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<br />TENEX ENTERPRISES, INC. <br />STATEMENT OF CASH FLOWS <br />FOR THE SIX MONTHS ENDED JUNE 30, 2007 <br /> <br />Cash Flows from Operating Activities: <br />Net income <br />Adjustments to reconcile net income <br />to net cash provided by operating activities: <br />Depreciation <br />(Increase) decrease in: <br />Contract receivables <br />Costs and estimated earnings in excess of <br />billing; on uncompleted contracts <br />Frepaid insurance <br /> <br />Net Cash Provided By Operating Activities <br /> <br />$ 162,445 <br /> 55,000 <br /> 283,059 <br /> (275,000) <br /> (19,170) <br /> 47,759 <br /> 24,840 <br /> 20,000 <br /> 0 <br /> 298,933 <br /> <br />Increase (decrease) in: <br />Accounts payable & accrued expenses <br />Income tax payable <br />Thferred income tax payable <br />Billings in excess of costs and estimated earnings <br />m uncompleted contracts <br /> <br />Cash Flows from Investing Activities: <br />Purchases of property and equipment <br />Loans to shareholder <br />Credit line <br />Installment loan payments <br /> <br />(8,833) <br />o <br />(200,000) <br />(54,931 ) <br /> <br />(263,764) <br /> <br />Net increase in Cash <br /> <br />35,169 <br /> <br />Cash-December 31, 2006 <br /> <br />123,571 <br /> <br />Cash at June 30, 2007 <br /> <br />$ <br /> <br />158,740 <br /> <br />See accompanying notes and accountants report <br />