|
FY2012
12 months to Dec 31, 2012
|
FY2011
12 months to Dec 31, 2011
|
|
|---|---|---|
| Operating activities: | ||
| Net income (loss) | ||
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
| Gain on sale of equipment | ||
| Bad debt expense | ||
| Depreciation and amortization | ||
| Amortization of discount on convertible notes | ||
| Tax Expense (benefit) from deferred income taxes | ||
| (Increase) decrease in operating assets and increase (decrease) in operating liabilities: | ||
| Accounts receivable | ||
| Costs on uncompleted projects applicable to future billings | ||
| Billings and estimated profit in excess of costs on uncompleted contracts | ||
| Accrued litigation reserve | ||
| Prepaid expenses, inventory and other assets | ||
| Other long term assets | ||
| Accounts payable and accrued expenses | ||
| Accrued future project losses | ||
| Net cash provided by (used in) operating activities | ||
| Investing activities: | ||
| Purchase of property and equipment | ||
| Prepaid rent payments | ||
| Proceeds from sale of equipment | ||
| Net cash used in investing activities | ||
| Financing activities: | ||
| Proceeds from issuance of convertible notes payable | ||
| Redemption of convertible note payable | ||
| Proceeds from note payable to bank and current and long-term borrowings, net of financing costs | ||
| Principal payments on current and long-term borrowings | ||
| Net cash provided by (used in) financing activities | ||
| Increase (decrease) in cash | ||
| Cash at beginning of period | ||
| Cash at end of period | ||
| Non-cash item | ||
| Non-cash debt refinancing | ||
| Non-cash financing of insurance |
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