| Cash Flow for Novavax Inc. (NVAX) | | | | | | | Cash Flow | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Net Income | (28,590) | (23,068) | (11,174) | (25,920) | (17,273) | | Depreciation & Amortization | 702 | 2,921 | 2,794 | 2,277 | 530 | | Deferred Income Taxes | - | - | - | - | - | | Operating Losses | - | - | 3,020 | (9,913) | 634 | | Extraordinary Losses | - | - | - | - | - | | | Decrease in Receivables | (298) | 2,186 | (248) | 720 | (261) | | Decrease in Inventories | 90 | 200 | 2,102 | (2,609) | (222) | | Decrease in Other Current Assets | - | - | - | - | - | | Increase in Payables | 206 | 594 | (3,866) | 5,436 | (1,387) | | Increase in Other Current Liabilities | - | (138) | - | - | (275) | | Decrease in Other Working Capital | 432 | (435) | - | - | - | | Other Non-Cash Items | 3,320 | 2,855 | 30 | 262 | - | | Net Cash from Continuing Operations | (25,717) | (14,810) | (5,809) | (30,099) | (17,547) | | Net Cash from Discontinued Operations | (1,025) | - | - | - | - | | Cash from Operating Activities | (26,742) | (14,810) | (5,809) | (30,099) | (17,547) | | | | Sale of Property, Plant, Equipment | - | - | 68 | - | 100 | | Sale of Short Term Investments | 121,608 | 56,247 | - | - | - | | | Purchase of Property, Plant, Equipment | (1,961) | (1,516) | (230) | (1,608) | (2,018) | | Acquisitions | - | - | - | - | - | | Purchase of Short Term Investments | (94,993) | (121,546) | - | - | - | | Other Investment Changes, Net | - | - | - | - | - | | Cash from Investing Activities | 24,651 | (66,815) | (162) | (1,608) | (1,918) | | | Issuance of Debt | - | - | - | 32,943 | 226 | | Issuance of Capital Stock | 89 | 57,702 | 21,058 | 5,081 | 44,086 | | | Repayment of Debt | (809) | (715) | (1,070) | (1,064) | (219) | | Repurchase of Capital Stock | - | (94) | - | - | - | | Payment of Cash Dividends | - | - | - | - | - | | Other Financing Charges, Net | - | - | - | (15,010) | - | | Cash from Financing Activities | (720) | 56,893 | 19,988 | 21,950 | 44,093 | | | | Effect of Exchange Rate Changes | - | - | - | - | - | | Net Change in Cash | (2,811) | (24,732) | 14,017 | (9,757) | 24,628 | | | Cash at Beginning of Year | 7,161 | 31,893 | 17,876 | 27,633 | 3,005 | | Cash at End of Period | 4,350 | 7,161 | 31,893 | 17,876 | 27,633 | | | |
