| Cash Flow for Wave Systems Corp. (WAVX) | | | | | | | Cash Flow | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Net Income | (19,952) | (18,785) | (17,562) | (14,498) | (19,595) | | Depreciation & Amortization | 356 | 663 | 842 | 855 | 1,241 | | Deferred Income Taxes | - | - | - | - | - | | Operating Losses | - | 1,553 | (564) | (4,447) | (1,308) | | Extraordinary Losses | - | - | - | - | - | | | Decrease in Receivables | (530) | (301) | - | - | 143 | | Decrease in Inventories | - | - | - | - | 1,113 | | Decrease in Other Current Assets | (5) | 64 | 176 | 371 | 51 | | Increase in Payables | 218 | (54) | 189 | 64 | (568) | | Increase in Other Current Liabilities | (115) | (100) | - | (31) | (20) | | Decrease in Other Working Capital | - | - | - | - | 98 | | Other Non-Cash Items | 1,969 | - | - | - | - | | Net Cash from Continuing Operations | (18,191) | (17,027) | (17,121) | (17,755) | (18,476) | | Net Cash from Discontinued Operations | - | - | - | - | - | | Cash from Operating Activities | (18,191) | (17,027) | (17,121) | (17,755) | (18,476) | | | | Sale of Property, Plant, Equipment | - | - | - | - | - | | Sale of Short Term Investments | - | - | 336 | 6,760 | - | | | Purchase of Property, Plant, Equipment | (619) | (329) | (161) | (304) | (985) | | Acquisitions | - | - | - | - | - | | Purchase of Short Term Investments | - | - | - | - | - | | Other Investment Changes, Net | - | - | - | - | 431 | | Cash from Investing Activities | (619) | (329) | 175 | 6,456 | (554) | | | Issuance of Debt | - | - | - | - | 1,135 | | Issuance of Capital Stock | 14,558 | 23,316 | 13,146 | 8,287 | 16,705 | | | Repayment of Debt | - | - | - | - | - | | Repurchase of Capital Stock | - | - | - | - | (213) | | Payment of Cash Dividends | - | - | - | - | - | | Other Financing Charges, Net | (0) | (1) | - | - | - | | Cash from Financing Activities | 14,558 | 23,315 | 13,146 | 8,287 | 17,628 | | | | Effect of Exchange Rate Changes | - | - | - | - | - | | Net Change in Cash | (4,252) | 5,960 | (3,800) | (3,012) | (1,403) | | | Cash at Beginning of Year | 7,966 | 2,006 | 5,806 | 8,818 | 10,221 | | Cash at End of Period | 3,714 | 7,966 | 2,006 | 5,806 | 8,818 | | | |
