Additional Other Total Paid-In Accumulated Comprehensive Equity Shares(1) Amount Capital Deficit Income (Loss) (Deficit) ----------- -------- ------------ ------------- --------------- ----------- Balance, June 30, 2023 25,000,000 $ 2 $ (1,898) $ (29,682) $ 132 $ (31,446) Net loss -- -- -- (2,484) -- (2,484) Other comprehensive loss, net of tax -- -- -- -- $(541.SI)$ (541) Balance, September 30, 2023 25,000,000 $ 2 $ (1,898) $ (32,166) $ (409) $ (34,471) ========== ==== ======== ========= ==== ========= ======= For the Six Months Ended September 30, ---------------------------------------------------------------------------------- Common Stock --------------------- Accumulated Additional Other Total Paid-In Accumulated Comprehensive Equity Shares Amount Capital Deficit Income (Loss) (Deficit) ----------- -------- ------------ ------------- --------------- ---------- Balance, March 31, 2024 34,544,935 $ 3 $ 2,613 $ (35,212) $ 50 $ (32,546) Net loss -- -- -- $(544.SI)$ -- (544) Out of period adjustment related to reverse recapitalization -- -- 710 -- -- 710 Other comprehensive loss, net of tax -- -- -- -- (2,015) (2,015) ---------- ---- -------- --------- ---- --------- --------- Balance, September 30, 2024 34,544,935 $ 3 $ 3,323 $ (35,756) $ (1,965) $ (34,395) ========== ==== ======== ========= ==== ========= ========= Accumulated Additional Other Total Paid-In Accumulated Comprehensive Equity Shares(1) Amount Capital Deficit Income (Loss) (Deficit) ----------- -------- ------------ ------------- --------------- ---------- Balance, March 31, 2023 25,000,000 $ 2 $ (1,898) $ (26,769) $ (289) $ (28,954) Net loss -- -- -- (5,397) -- (5,397) Other comprehensive loss, net of tax -- -- -- -- (120) (120) Balance, September 30, 2023 25,000,000 $ 2 $ (1,898) $ (32,166) $ (409) $ (34,471) ========== ==== ======== ========= ==== ========= =========
(1) All outstanding share and per-share amounts have been restated to reflect the reverse recapitalization as established in the Business Combination Agreement as described in Note 1 to the condensed consolidated financial statements.
DIH HOLDING US, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands, unaudited) For the Six Months Ended September 30, ---------------------------------------------- 2024 2023 --------------------- ------------------- Cash flows from operating activities: Net loss $ (544) $ (5,397) Adjustments to reconcile net loss to net cash provided by operating activities: Depreciation and amortization 351 147 Provision for credit losses (434) (869) Allowance for inventory obsolescence (108) 739 Pension contributions (309) (309) Pension expense 155 136 Change in fair value of convertible debt and warrant liability 400 -- Foreign exchange (gain) loss (38) 418 Noncash lease expense 828 770 Noncash interest expense -- 14 Deferred and other noncash income tax (income) expense 112 12 Changes in operating assets and liabilities: Accounts receivable (694) 2,149 Inventories (1,527) (1,528) Due from related parties (548) 343 Due to related parties (98) 988 Other assets (481) (1,350) Operating lease liabilities (820) (957) Accounts payable 813 1,764 Employee compensation 1,070 (59) Other liabilities (247) 197 Deferred revenue 846 1,265 Manufacturing warranty obligation 100 180 Advance payments from customers (1,737) 2,591 Accrued expense and other current liabilities 1,376 519 --- ---------------- --------------- Net cash provided by (used in) operating activities (1,534) 1,763 --- ---------------- --------------- Cash flows from investing activities: Purchases of property and equipment (423) (73) --- ---------------- --------------- Net cash used in investing activities (423) (73) --- ---------------- --------------- Cash flows from financing activities: Proceeds from issuance of convertible debt, net of issuance costs 2,809 -- Payments on related party notes payable (2,053) (3,744) --- ---------------- --------------- Net cash provided by (used in) financing activities 756 (3,744) --- ---------------- --------------- Effect of currency translation on cash and cash equivalents 35 15 --- ---------------- --------------- Net decrease in cash, and cash equivalents, and restricted cash (1,166) (2,039) Cash, cash equivalents and restricted cash - beginning of period 3,225 3,175 --- ---------------- --------------- Cash, cash equivalents and restricted cash- end of period $ 2,059 $ 1,136 === ================ =============== Reconciliation of cash, cash equivalents and restricted cash: Cash and cash equivalents $ 1,759 $ 1,136 Restricted cash 300 -- --- ---------------- --------------- Total cash, cash equivalents and restricted cash $ 2,059 $ 1,136 === ================ =============== Supplemental disclosure of cash flow information: Interest paid $ 162 $ 262 Income tax paid $ 15 $ -- Supplemental disclosure of non-cash investing and financing activity: Accounts payable settled upon reverse recapitalization $ 710 $ -- DIH HOLDING US, INC. RESTATED CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share data, unaudited) As of June 30, 2024 ---------------------------------------- As Previously Reported Adjustment As Restated ----------- ------------ ----------- Assets Current assets: Cash and cash equivalents $ 2,749 $ -- $ 2,749 Accounts receivable, net of allowances of
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