Construct Group - Laserfiche WebLink

Home Browse Search

j :' . CONSTRUCT GROUP CORP. STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED DECEMBER 31. 2009 2008 Cash flows from operating activities: Net Income (Loss) $ (I 39.932) $ 1.442,476 Adjustments to reconcile net income to cash provided by operating activities: Depreciation 273,751 180,619 Changes in assets and liabilities: Decrease (increase) in contracts receivable 462.074 (2,440,047) Decrease in other receivables 344,011 Decrease (increase) in costs and estimated earnings in excess of billings on uncompleted contracts 651,191 (983,507) Decrease (increase) in other assets (2,264 ) 2.050 Increase (decrease) in accounts payable - trade (l,0 11,436) 1,171,177 Increase in accrued liabilities 116,333 Increase in billings in excess of costs and estimated earnings all uncompleted contracts 24,371 17,285 Cash nows provided by (used in) operating activities 374,088 (265,936) Cash f10ws used in investing activitics: Purchase of property and equipment (J 27,296) (220,152) Cash f10ws provided by (used in) financing activities: Proceeds from (Repayment of) short - term borrowings (132,787) 979,217 Proceeds from refinance of short - term borrowings 250.000 Dividend distribution (139,470) (366,000) Repayment of long - term debt (198,001) (143,678) (220,258) 469,539 Net increase (decrease) in cash and cash equi valents 26.534 (16,549) Cash and cash equivalents at the beginning of the year 12,469 29,018 Cash and cash equivalents at the end of the year $ 39.003 S 12.469 Supplementarv disclosure of cash now information Non-monetary investing and financing transactions: Debt incurred to acquire property and equipment Cash paid for interest $ $ 106,677 72.220 $ $ 453,907 33.893 The accompanying notes are an integral part of this statement 5