Encore Energy Systems, Inc. (ENCS)

Encore Energy Systems Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	FY 2003	FY 2002	FY 2001
Period Ending	Jun 30, 2003	Jun 30, 2002	Jun 30, 2001
Net Income	-1.59	-1.99	-1.09
Depreciation & Amortization	0.01	0.01	0.03
Stock-Based Compensation	-	0.07	-
Other Operating Activities	-	1.08	0.33
Change in Accounts Receivable	-0.03	-0	0
Change in Inventory	-0.04	-0.01	-
Change in Accounts Payable	0.06	-0.09	0.12
Change in Other Net Operating Assets	1.18	0.08	0.08
Operating Cash Flow	-0.4	-0.84	-0.53
Capital Expenditures	-0.04	-0	-0.01
Cash Acquisitions	-	-0.15	-
Other Investing Activities	-0.22	0.25	-0.25
Investing Cash Flow	-0.27	0.1	-0.26
Long-Term Debt Issued	0.41	1	0.73
Long-Term Debt Repaid	-0.02	-0.1	-0.07
Net Debt Issued (Repaid)	0.39	0.9	0.66
Issuance of Common Stock	-	0.12	0.1
Financing Cash Flow	0.39	1.02	0.77
Net Cash Flow	-0.28	0.28	-0.02
Free Cash Flow	-0.44	-0.85	-0.54
Free Cash Flow Margin	-78.02%	-1077.38%	-10684.28%
Free Cash Flow Per Share	-0.01	-0.03	-0.02
Cash Interest Paid	0.02	0	0.02
Levered Free Cash Flow	-0.86	-0.98	-0.72
Unlevered Free Cash Flow	-0.26	-0.31	-0.46
Change in Working Capital	1.17	-0.01	0.2

Source: S&P Global Market Intelligence. Standard template. Financial Sources.