Net earnings | -585K |
Adjustments to reconcile net earnings to net cash used in operating activities: | |
Depreciation and amortization | 6K |
Bad debt expense | 0 |
Amortization of unearned compensation | 6K |
Changes in current assets & liabilities | |
Accounts receivable | 9K |
Inventory | 4K |
Prepaid expenses & other | 38K |
Accounts payable | 29K |
Due to/from subcontractor | |
Accrued expenses | -72K |
Net cash used in operating activities | -565K |
Cash used in investing activities: | |
Additions to plant & equipment, net | 0 |
Net cash used in investing activities | 0 |
Cash provided by financing activities: | |
Borrowings - note payable | |
Proceeds from shares issued, options exercised and purchase plan | |
Net cash provided by financing activities | 0 |
Net increase in cash | -565K |
Cash at beginning of period | 3.14M |
Cash at end of period | 2.58M |
Supplemental cash flow disclosure: | |
Interest paid | 0 |
Taxes paid | 0 |