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ICANN | Audited Financial Report for Fiscal Year Ending 30 June 2002 (Statements of Cash Flows)

Audited Financial Report for Fiscal Year Ending 30 June 2002 (Statements of Cash Flows)

INTERNET CORPORATION
FOR ASSIGNED NAMES AND NUMBERS
Statements of Cash Flows
June 30, 2002 and 2001

						2002	2001
Cash flows from operating activities:
	Change in net assets				$	73,318	1,589,242
	Adjustments to reconcile change in net assets to net cash provided by operating activities:
		Depreciation				141,468	105,059
		Loss on disposal of property and equipment				5,954	—
		Changes in operating assets and liabilities:
			Accounts receivable			637,075	(812,351)
			Grants and contributions receivable			—	100,000
			Other assets			26,273	(26,762)
			Accounts payable and accrued liabilities			(76,065)	340,308
			Deferred revenue			71,938	208,845
				Net cash provided by operating activities		879,961	1,504,341
Cash flows from investing activities:
	Purchases of property and equipment					(42,316)	(303,419)
	Proceeds from sales of property and equipment					510	—
				Net cash used in investing activities		(41,806)	(303,419)
Cash flows from financing activities:
	Proceeds from issuance of loan payable					—	43,700
	Principal payments on loan payable					(19,009)	—
	Principal payments on notes payable					(875,000)	(150,000)
				Net cash used in financing activities		(894,009)	(106,300)
				Net increase (decrease) in cash and cash equivalents		(55,854)	1,094,622
Cash and cash equivalents, beginning of year						1,874,952	780,330
Cash and cash equivalents, end of year					$	1,819,098	1,874,952
Supplemental disclosure of investing and financing activities:
	Cash paid during the year for interest				$	61,481	78,687
See accompanying notes to financial statements.

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