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TENEX ENTERPRISES, INC. <br />STATEMENT OF CASH FLOWS <br />FOR THE SIX MONTHS ENDED JUNE 30, 2007 <br />Cash Flows from G)p Prating Act' Ivilties: <br />Net income <br />$ 162,445 <br />Adjustments to reconcile net income <br />to net cash provided by operating activities: <br />Depreciation <br />55,000 <br />(Increase) decrease in: <br />Contract receivables <br />283,059 <br />Costs and estimated earnings in excess of <br />billings on uncompleted contracts <br />(275,000) <br />repaid insurance <br />(19,17 "u) <br />Increase (decrease) in: <br />Accounts payable & accrued expenses 47,759 <br />Income tax payable 24,840 <br />Deferred income tax payable 20,000 <br />Billings ni excess of costs and estimated eaiuings <br />m uncompleted contracts 0 <br />�%t Cash Provided v Operating Activities 298,933 <br />Cash Flows from Investing Activities: <br />Purchases of property and equipment <br />Loans to shareholder 0 <br />Credit line (200,000) <br />Instalhnent loan payments (54,931) <br />(263,764) <br />lit increase in Cash 35,169 <br />Cash - December 31, 2006 123,571 <br />Cash at June 30, 2007 $ 158,740 <br />See accompanying notes and accountants report <br />