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