ER Urgent Care Holdings, Inc. (ERUC)

ER Urgent Care Holdings Cash Flow Statement

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

Fiscal Year	FY 2007	FY 2006	FY 2005	FY 2004
Period Ending	Dec 31, 2007	Dec 31, 2006	Dec 31, 2005	Dec 31, 2004
Net Income	-1.28	-1.17	-0.57	-0.52
Depreciation & Amortization	0.14	0.16	0.12	0.11
Provision & Write-off of Bad Debts	0.11	0.27	0.39	0.03
Change in Accounts Receivable	-1.04	-1.31	-0.67	-0.11
Change in Inventory	-0.04	-0.02	-0.04	-
Change in Accounts Payable	0.03	0.08	-0.05	0.09
Change in Other Net Operating Assets	-0.33	-0.69	-0.19	0
Operating Cash Flow	-2.41	-2.69	-1.01	-0.4
Capital Expenditures	-0.07	-0.42	-0.22	-0.05
Investing Cash Flow	-0.07	-0.42	-0.22	-0.05
Short-Term Debt Issued	-	0.1	0.17	0.03
Long-Term Debt Issued	-	0.36	-	-
Total Debt Issued	-	0.46	0.17	0.03
Short-Term Debt Repaid	-	-0.34	-	-
Long-Term Debt Repaid	-0.36	-	-	-
Total Debt Repaid	-0.36	-0.34	-	-
Net Debt Issued (Repaid)	-0.36	0.12	0.17	0.03
Issuance of Common Stock	2.82	3.39	1.24	0.39
Other Financing Activities	-	-0.37	-0.16	-0.14
Financing Cash Flow	2.46	3.14	1.25	0.27
Net Cash Flow	-0.02	0.02	0.02	-0.19
Free Cash Flow	-2.48	-3.11	-1.22	-0.46
Free Cash Flow Margin	-91.75%	-135.33%	-87.18%	-72.23%
Free Cash Flow Per Share	-0.02	-0.47	-0.80	-0.30
Cash Interest Paid	0.01	0	0	0.09
Levered Free Cash Flow	-1.59	-2.1	-1.01	-
Unlevered Free Cash Flow	-1.59	-2.1	-1.01	-
Change in Net Working Capital	0.86	1.1	0.56	-

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