| Cash Flow for B.V.R. Systems Ltd. (BVRSF) | | | | | | | Cash Flow | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Net Income | (3,864) | (2,223) | 121 | (1,225) | (6,546) | | Depreciation & Amortization | 492 | 394 | 364 | 690 | 659 | | Deferred Income Taxes | - | - | - | - | - | | Operating Losses | - | 87 | 55 | (532) | (91) | | Extraordinary Losses | - | - | - | - | - | | | Decrease in Receivables | 1,899 | (2,836) | 2,549 | 593 | 12,172 | | Decrease in Inventories | - | 55 | 1,163 | 220 | (1,589) | | Decrease in Other Current Assets | 639 | - | (2,425) | (307) | 2,296 | | Increase in Payables | 377 | (124) | (640) | (1,064) | (6,405) | | Increase in Other Current Liabilities | - | 2,098 | (168) | (327) | - | | Decrease in Other Working Capital | (834) | (38) | - | - | - | | Other Non-Cash Items | 779 | 145 | - | - | - | | Net Cash from Continuing Operations | (512) | (2,442) | 1,019 | (1,952) | 496 | | Net Cash from Discontinued Operations | - | - | - | - | - | | Cash from Operating Activities | (512) | (2,442) | 1,019 | (1,952) | 496 | | | | Sale of Property, Plant, Equipment | - | - | 6 | - | 8 | | Sale of Short Term Investments | - | - | 199 | - | 78 | | | Purchase of Property, Plant, Equipment | (352) | (295) | (339) | (113) | (171) | | Acquisitions | - | - | - | - | - | | Purchase of Short Term Investments | - | - | - | - | - | | Other Investment Changes, Net | (1,487) | 18 | - | (2,572) | 4,292 | | Cash from Investing Activities | (1,839) | (277) | (109) | (2,685) | 4,207 | | | Issuance of Debt | 966 | - | - | - | 1,031 | | Issuance of Capital Stock | - | 3,600 | - | 12,874 | - | | | Repayment of Debt | (516) | (517) | (517) | (7,200) | (4,967) | | Repurchase of Capital Stock | - | - | - | - | - | | Payment of Cash Dividends | - | - | - | - | - | | Other Financing Charges, Net | - | - | - | - | - | | Cash from Financing Activities | 450 | 3,083 | (517) | 5,674 | (3,936) | | | | Effect of Exchange Rate Changes | - | - | - | - | - | | Net Change in Cash | (1,901) | 364 | 393 | 1,037 | 767 | | | Cash at Beginning of Year | 3,421 | 3,057 | 2,664 | 1,627 | 860 | | Cash at End of Period | 1,520 | 3,421 | 3,057 | 2,664 | 1,627 | | | |
