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)


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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