Statement of Cash Flows Periods Ending August 31, 2013 and August 31, 2012
(Unaudited)
| YTD August 2013 | YTD August 2012 | |
|---|---|---|
| Reconciliation of net operating loss to net cash from operating activities | ||
| Operating income (loss) | 4,349,677 | 1,625,777 |
| Adjustments to reconcile operating income (loss) to net cash from operating activities: | ||
| Depreciation expense | 738,424 | 757,771 |
| Bad Debt Expense | - | - |
| Loss on disposal of capital assets | - | - |
| Changes in assets and liabilities: | ||
| Receivables, net | (9,704,244) | (2,863,736) |
| Inventory and prepaid expenses | (13,962) | (13,941) |
| Accounts payable and accrued liabilities | (441,628) | (2,160,778) |
| Accrued compensated absences | - | - |
| Other liabilities | 252,290 | (901,223) |
| Deferred revenue | 58,416 | (421,383) |
| Net cash from operating activities | (4,761,027) | (3,977,513) |