THERMOGENESIS CORP. Condensed Consolidated Statements of Cash Flows (Unaudited) | ||||
Nine Months Ended March 31, | ||||
2011 | 2010 | |||
Cash flows from operating activities: | ||||
Net loss | ($1,399,000) | ($5,022,000) | ||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||
Depreciation and amortization | 362,000 | 361,000 | ||
Stock based compensation expense | 761,000 | 419,000 | ||
Gain on disposal of equipment | (1,000) | -- | ||
Loss on impairment of equipment | -- | 26,000 | ||
Accretion of discount on short-term investments | -- | (2,000) | ||
Net change in operating assets and liabilities: | ||||
Accounts receivable, net | 1,631,000 | (782,000) | ||
Inventories | (1,034,000) | (391,000) | ||
Other current assets | 186,000 | 454,000 | ||
Other assets | (96,000) | 59,000 | ||
Accounts payable | (485,000) | 509,000 | ||
Accrued payroll and related expenses | 173,000 | (437,000) | ||
Deferred revenue | (540,000) | (477,000) | ||
Other liabilities | (543,000) | 248,000 | ||
Net cash used in operating activities | (985,000) | (5,035,000) | ||
Cash flows from investing activities: | ||||
Capital expenditures | (156,000) | (469,000) | ||
Proceeds from sale of equipment | 17,000 | -- | ||
Purchase of investments | -- | (6,741,000) | ||
Maturities of investments | -- | 10,727,000 | ||
Net cash (used in)/provided by investing activities: | (139,000) | 3,517,000 | ||
Cash flows from financing activities: | ||||
Exercise of stock options | 7,000 | -- | ||
Issuance of common stock | 3,932,000 | -- | ||
Payments on capital lease obligations | (1,000) | (3,000) | ||
Net cash provided by/(used in) financing activities | 3,938,000 | (3,000) | ||
Net increase/(decrease) in cash and cash equivalents | 2,814,000 | (1,521,000) | ||
Cash and cash equivalents at beginning of period | 10,731,000 | 6,655,000 | ||
Cash and cash equivalents at end of period | $13,545,000 | $5,134,000 | ||
