Glori Energy Inc. Cashflow Statement

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Financial Statements

Income Statement Balance Sheet Cashflow Statement

Consolidated Statements of Cash Flows

In millions of USD, except per-share amounts

	FY2015 12 months to Dec 31, 2015	FY2014 12 months to Dec 31, 2014	FY2013 12 months to Mar 31, 2014
Net loss
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation, depletion and amortization of property and equipment
Exploration expenses
Stock-based compensation
Bad debt expense
Amortization of deferred loan costs and other
Accretion of end-of-term charge
Unrealized gain on change in fair value of commodity derivatives
Write-off of deferred offering costs
Gain on change in fair value of warrant liabilities
Increase in fair value of Trust Fund
Accretion of discount on long-term debt
Loss on disposal of property and equipment
Gain on the sale of Etzold
Settlement of asset retirement obligations
Impairment of oil and gas properties
Changes in operating assets and liabilities:
Accounts receivable
Prepaid expenses and other current assets
Inventory
Accounts payable
Deferred revenues
Accrued expenses
Deferred legal fees
Net cash used in operating activities
Cash flows from investing activities:
Cash contributed to Trust Fund
Purchase of proved oil and gas property
Purchase of other property and equipment
Proceeds from the sale of long-term commodity derivatives
Proceeds from the sale of Etzold
Net cash used in investing activities
Cash flows from financing activities:
Proceeds from shareholder's loans
Proceeds from issuance of common stock, preferred stock and preferred warrants
Proceeds from note and advances payable to affiliate
Proceeds from issuance of warrants
Portion of net proceeds from sale of units through Public offering allocable to shares subject to possible redemption
Net proceeds from sale of units through public offering allocable to shareholders' equity
Proceeds from issuance of long-term debt
Proceeds from exercise of warrants and stock options
Proceeds from merger with Infinity Corp. including private placement of common stock
Payments on long-term debt
Payments for deferred offering costs
Payments for deferred loan costs
Net cash provided by (used in) financing activities
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents, beginning of period
Cash and cash equivalents, end of period
Non-cash financing and investing activities:
Deferred offering costs included in accrued offering costs
Deferred legal fees
Adjustment for warrant liability in connection with the public offering
Contribution of capital equal to fair value of derivative due to termination of derivative liability
Fair value of preferred stock and preferred warrants in excess of proceeds
Asset retirement obligation assumed
Issuance of preferred stock in settlement of accrued expense
Supplemental cash flow information:
Interest paid

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