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2,397,7992,085,262Inventories
810,120677,960Other
450,608348,100Total current assets
15,961,52217,195,472Property, plant, and equipment, net
1,180,0951,210,542Intangible assets, net
1,161,3391,725,136Long-term investments
4,437,0705,508,701Deferred tax assets
84,29287,031Total assets
$22,824,318$25,726,882Liabilities and Shareholders’ EquityCurrent liabilities:Accounts payable
$565,764$658,107Current portion – deferred rent
35,00035,000Income tax payable
11,8656,901Accrued liabilities:Compensation
1,693,5021,597,657Other
488,344247,451Total current liabilities
2,794,4752,545,116Deferred rent – less current portion
50,85177,272Accrued pension liability
416,114475,845Total liabilities
3,261,4403,098,233Total shareholders’ equity
19,562,87822,628,649Total liabilities and shareholders’ equity
$22,824,318$25,726,882UROPLASTY, INC. AND SUBSIDIARIESCONDENSED Consolidated Statements of Cash Flows (Unaudited)Nine Months EndedDecember 31,20112010Cash flows from operating activities:Net loss
($3,677,332)($3,319,911)Adjustments to reconcile net loss to net cash used in operating activities:Depreciation and amortization
832,309848,385Loss on disposal of equipment
6,475192Amortization of premium on marketable securities
27,2107,226Share-based consulting expense
4,1259,739Share-based compensation expense
498,906279,083Deferred income taxes
(4,698)(5,863)Deferred rent
(26,421)(26,421)Changes in operating assets and liabilities:Accounts receivable, net
(374,068)(261,136)Inventories
(146,058)(248,656)Other current assets
(106,156)(48,492)Accounts payable
(82,491)4,474Accrued liabilities
356,589616,036Accrued pension liability, net
(25,428)(16,109)Net cash used in operating activities
(2,717,038)(2,161,453)Cash
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