5,241,014Adjustments to Reconcile Net Income (Loss) to Net Cash
Provided by (Used In) Operating Activities:Depreciation and Amortization of Fixed Assets309,162294,194Amortization of Intangible and Other Assets18,14214,253Reduction of Allowance for Doubtful Accounts(55,818)(55,550)Reduction of Inventory Reserve(418,406)(842,587)Compensation Expense on Stock Option Grants888,147118,103Stock Issued for Consulting Services63,00031,521Loss on Stockholder Litigation-3,250,000Gain on Reduction of Accrued Stockholder Litigation(410,000)-Changes in Operating Assets and Liabilities:Accounts Receivable155,278183,716Inventory456,3541,797,956Prepaid Expenses and Other Current Assets84,016216,548Other Assets-120,573Accounts Payable(147,915)(729,756)Accrued Expenses(295,167)387,529Accrued Interest Payable 86,392(134,422)Accrued Stockholder Litigation(2,840,000)-Deferred Research and Development Obligation-(3,332,863)Income Taxes Payable(599)(7,892)Net Cash Provided by (Used In) Operating Activities(7,635,346)6,552,337Investing ActivitiesPurchases of Fixed Assets(188,684)(94,376)Patent Costs(180,953)-Restricted Cash 69,04728,227Net Cash (Used In) Investing Activities(300,590)(66,149)Financing ActivitiesRepayment of Note Payable to Stockholder-(1,000,000)Proceeds from Issuance of Convertible Subordinated Debt4,000,000-Proceeds from Stock Warrant Exercises16,64286,654Proceeds from Stock Option Exercises34,63920,550Net Cash (Used In) Provided by Financing Activities4,051,281(892,796)Net Increase (Decrease) in Cash and Cash Equivalents (3,884,655)5,593,392Cash and Cash Equivalents at Beginning of Year8,419,9342,826,542Cash and Cash Equivalents at End of Year
8,419,934Supplemental Cash Flow Information:Cash Paid for Interest
|SOURCE Dyadic International, Inc.|
Copyright©2010 PR Newswire.
All rights reserved