The main drivers for our net loss was a $5.9 million inventory write-down noted earlier and increased expenses incurred in support of top-of-funnel marketing. Our weighted average shares outstanding on a diluted basis used in the calculation of loss per share for the quarter or approximately 30.4 million shares for the period ended June 30, 2023 compared to 31.2 million shares for the period ended June 30, 2022. Now let’s move on to a snapshot of our balance sheet. Our liquidity and capital position remained strong as we ended the quarter with $15.6 million of total cash compared to $16 million at the end of the third quarter ended March 31, 2023, and $21.2 million as of June 30, 2022. Working capital remained strong at $17.3 million. In addition, the company continues to be debt-free.
Our cash flow used in operations was $48,000 during the quarter, compared to $500,000 of cash flow used in operations during the same quarter a year ago. In terms of other sources of liquidity, we have access to our $5 million cash secured credit facility with JPMorgan Chase Bank, which was renewed for another year in June 30, 2023. As of June 30, 2023, and through today, we have not accessed funds through our credit facility agreement. Inventory as of June 30, 2023, totaled $26.8 million compared to $33.3 million at March 31, 2023, a reduction of nearly $6.5 million due to the inventory write-down previously mentioned. Inventory as of June 30, 2022, was $33.5 million. Loose jewels inventory was $9.1 million as of June 30, 2023, compared to $15.6 million as of March 31, 2023, again, due to the inventory write-down which was all related to loose jewels inventory.
Loose jewels inventories at June 30, 2022, was $16.2 million. Finished jewelry inventory was $17.3 million as of June 30, 2023, compared to $17.4 million as of March 31, 2023, showing a reduction of $100,000, demonstrating a solid sell-through of our finished jewelry in our direct-to-consumer online channels, while maintaining a higher percentage of in-stock rates above 90% to meet our service level agreements. Plan to remain focused on prudent inventory management strategies going forward. Finished jewelry as of June 30, 2023, was $17.2 million. Book value per share at the end of the quarter and the year was $1.30 per share, sequentially lower to Q3 2023 and at June 30, 2022, due to the inventory write-downs that I described earlier in my comments as well as the tax valuation allowance and cumulative losses over the quarters in FY 2023.
In summary, we remain steadfast in our cash management while diligently deploying capital and support of our ongoing business and technology advancements towards growth initiatives and further brand awareness. With that, I’ll turn it back over to Don.
Don O’Connell: Thank you, Clint. In conclusion, despite the facing headwinds throughout the full fiscal year, we remain optimistic and excited about the future of our company. While we acknowledge the challenges we’ve encountered. We have also made significant progress in implementing strategic initiatives that we believe will drive growth and enhance our overall performance. Moving forward, we are committed to leveraging our strengths, refining our strategies and capitalizing on new opportunities. Our dedicated team, coupled with our innovative approach positions us well for success in the coming years. We firmly believe that our proactive measures, combined with our unwavering determination will enable us to overcome the obstacles we have encountered and paved the way for a brighter future.
We are confident our long-term business strategy will yield favorable results and create long-term value for our shareholders. We extend our gratitude to our valued investors, employees and stakeholders for their continued support and trust in our company. Together, we will navigate these challenges, and we believe, emerge stronger than ever. At this time, I will turn the call back over to the operator, who will open the lines for any questions.
Operator: Thank you. We will now begin the question-and-answer session. [Operator Instructions]
Adam Lowensteiner: Hi, Sarah. This is Adam Lowensteiner from Lytham Partners. I’m going to pose a few questions to the management team.
Don O’Connell: Hey, Adam, go ahead. Sure.
Adam Lowensteiner: Hi, Don and Clint. Where do you see the company streaming, Made Shopping, going?
