Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Cash Flows From Operating Activities:      
Net loss $ (4,486) $ (12,021) $ (2,956)
Adjustments to reconcile net loss to net cash and cash equivalents used in operating activities:      
Depreciation and amortization 695 1,070 1,444
Loss on disposal of assets, net 36 55 13
Impairment of property, plant and equipment   35  
Provision for (recovery of) bad debts 74 (80) (62)
Recovery of sales returns allowance     (77)
Provision for inventory excess and obsolescence 392   1,090
Amortization of discounts on term loan payable 78 37  
Amortization of debt issuance costs 99 70  
Stock-based compensation 1,528 727 1,357
Non-employee equity instruments 273 19  
Other non-cash compensation 250 87  
Deferred income taxes 3 77 109
Changes in operating assets and liabilities:      
Accounts receivable (5,642) 978 (290)
Inventory (4,716) 874 3,459
Prepaid expenses and other current assets (552) 173 (275)
Customer deposits (5,711) 5,877  
Accounts payable and accrued liabilities 4,280 (774) (4,990)
Deferred revenue 79 (1,016) (1,393)
Net cash and cash equivalents used in operating activities (13,320) (3,812) (2,571)
Cash Flows From Investing Activities:      
Additions to property, plant and equipment (428) (237) (449)
Proceeds from sale of property, plant and equipment     5
Net cash and cash equivalents used in investing activities (428) (237) (444)
Cash Flows From Financing Activities:      
Borrowings under line of credit     4,293
Payments under line of credit     (9,697)
Proceeds from term loan payable   3,000  
Payments under term loan payable (2,700) (300)  
Payment of debt issuance costs   (85)  
Proceeds from exercise of warrants 18    
Payment to repurchase equity warrants (130)    
Proceeds from equity offering, net of expenses 17,223    
Payment of stock repurchase costs (268)    
Proceeds from exercise of stock options 1,244 199 173
Net cash and cash equivalents provided by (used in) financing activities 15,387 2,814 (5,231)
Effect of exchange rate changes (26) (46) (14)
Increase (decrease) in cash and cash equivalents 1,613 (1,281) (8,260)
Cash and cash equivalents, beginning of year 1,694 2,975 11,235
Cash and cash equivalents, end of year 3,307 1,694 2,975
Cash activity during the year for:      
Interest paid 80 236 58
Income taxes paid (refunded) $ 44 $ (96) $ 34