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VERIDIEN CORP - 10QSB - 20040816 - CASH_FLOW
Veridien Corporation
and Subsidiaries
Consolidated Statements of Cash Flows
(Unaudited)
For the six months ended
June 30, 2004 and June 30, 2003
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June 30,
2004
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June 30,
2003
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Cash flows from operating activities:
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Net Income (loss)
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$
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480,791
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$
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(472,917
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)
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Adjustments to reconcile net (loss) to net cash
(used) by operating activities:
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Depreciation and amortization
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9,480
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9,157
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Stock issuances for services
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122,223
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29,788
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Stock issuances for interest expense, non-cash
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182,399
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6,726
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Other, not affecting cash
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649,141
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-0-
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Realized (gains) losses on marketable securities
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(511,079
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)
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100,380
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Unrealized (gains) losses on marketable securities
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(81,085
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)
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-0-
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Proceeds from sale of marketable securities
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998,528
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272,622
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(Increase) decrease in:
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Accounts receivable
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6,958
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(249,869
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)
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Notes receivable
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125,000
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(59,718
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)
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Prepaid expenses and other current assets
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37,771
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26,918
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Inventories
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(65,438
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)
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(26,279
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Other assets
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-0-
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(73,049
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)
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Increase (decrease) in:
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Accounts payable and accrued expenses
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(1,784,044
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)
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458,816
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Due to stockholders
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1,031
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(118,805
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)
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Customer deposits
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241,500
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(16,800
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Net cash (used) by operating activities:
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413,176
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(113,030
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)
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Cash flow from investing activities:
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Purchase of investment — preferred
stock
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(185,000
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)
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-0-
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Net purchases and disposal of property and
equipment
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(1,687
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)
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-0-
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Net cash (used) by investing activities
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(186,687
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)
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-0-
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Cash flow from financing activities:
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Proceeds from convertible debentures
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330,000
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133,200
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Net payment on capital leases
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(2,896
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)
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(2,740
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)
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Net proceeds from borrowings
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(102,614
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)
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(38,146
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)
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Net cash provided by financing activities
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224,490
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92,314
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Net increase/(decrease) in cash
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450,979
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(20,716
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)
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Cash at beginning of year
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101,506
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89,048
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Cash at end of quarter
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$
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552,485
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$
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68,332
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