ACCESS PHARMACEUTICALS, INC. STATEMENT OF CASH FLOW
SIX MONTHS ENDING JUNE 30, YEAR ENDED DECEMBER 31, ------------------------- ------------------------------------- 1995 1994 1994 1993 1992 ---------- ----------- --------- ----------- ----------- (UNAUDITED) (UNAUDITED) Cash Flows From Operating Activities: Net income/loss..................... $(270,325) $(390,927) $(476,232) $(1,383,528) $ (859,546) Adjustments to reconcile net income/loss to net cash used in operating activities: Depreciation and amortization of assets......................... 62,448 55,458 115,338 110,907 95,623 Change in assets and liabilities: Accounts receivable............ (5,067) (5,034) (18) 29,136 (27,141) Accrued interest receivable.... -- -- 112 13,775 (4,887) Prepaid expenses and other assets....................... 19,628 -- (19,628) -- (418) Other assets................... 418 -- (667) -- -- Accounts payable and accrued expenses..................... (17,671) (21,829) 7,318 18,475 (1,454) Deferred income taxes.......... -- -- -- -- (43,876) Unearned revenue............... (135,000) 250,000 (180,000) -- (298,666) --------- --------- --------- ----------- ---------- Total adjustments.............. (137,692) 223,249 (167,117) 61,386 (376,442) --------- --------- --------- ----------- ---------- Net Cash (Used In) Operating Activities........................ (345,569) (112,220) (193,777) (1,211,235) (1,140,365) Cash Flows From Investing Activities: Capital expenditures.............. (324) (960) (81,253) (12,846) (140,098) Marketable securities............. -- -- -- 1,203,625 (603,625) Capitalized patent costs.......... -- (2,396) (30,573) (93,641) (24,173) --------- --------- --------- ----------- ---------- Net Cash Provided by (Used In) Investing Activities.............. (324) (3,356) (111,826) 1,097,138 (767,896) Cash Flows From Financing Activities Proceeds from notes payable....... -- -- 502,248 -- -- Repayment of notes payable........ (67,033) -- (30,516) -- -- Proceeds from capital equipment... -- -- -- -- 89,014 --------- --------- --------- ----------- ---------- Net Cash Provided By Financing Activities........................ (67,033) -- 471,732 -- 89,014 --------- --------- --------- ----------- ---------- Net Increase (Decrease) in Cash and Cash Equivalents.................. (412,926) (115,576) 166,129 (114,097) (1,819,247) Cash and Cash Equivalents At Beginning of Period............... $ 533,456 $ 367,327 $ 367,327 $ 481,424 $ 2,300,671 ========= ========= ========= =========== ========== Cash and Cash Equivalents At End of Period............................ $ 120,530 $ 251,751 $ 533,456 $ 367,327 $ 481,424 ========= ========= ========= =========== ========== Cash Paid for Interest.............. 35,676 -- 18,510 -- -- Cash Paid for Income Taxes.......... -- -- -- 32,222 --
See Notes to Financial Statements F-19