Earthworks Entertainment, Inc. (EWKS)

Earthworks Entertainment Cash Flow Statement

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

Fiscal Year	FY 2005	FY 2004	FY 2003	FY 2002
Period Ending	Sep 30, 2005	Sep 30, 2004	Sep 30, 2003	Sep 30, 2002
Net Income	-2.36	-1.85	-0.85	-1.58
Depreciation & Amortization	0	0	0.04	0.03
Other Amortization	0.81	0.33	-	-
Asset Writedown & Restructuring Costs	-	-	0.05	-
Stock-Based Compensation	0.43	0.4	0.33	0.99
Other Operating Activities	-	-	-0.11	-
Change in Accounts Payable	0.19	0.14	-0.08	0.04
Change in Other Net Operating Assets	-1.61	0.15	0.5	0.36
Operating Cash Flow	-2.57	-0.82	-0.13	-0.16
Capital Expenditures	-	-0	-	-
Investing Cash Flow	-	-0	-	-
Long-Term Debt Issued	0.35	0.72	-	-
Total Debt Issued	0.35	0.72	-	-
Long-Term Debt Repaid	-0.07	-0.01	-	-
Net Debt Issued (Repaid)	0.28	0.71	-	-
Issuance of Common Stock	-	0.23	0.21	0.15
Other Financing Activities	2.28	-0.05	-	-
Financing Cash Flow	2.56	0.88	0.21	0.15
Net Cash Flow	-0.01	0.06	0.09	-0.01
Free Cash Flow	-2.57	-0.83	-0.13	-0.16
Free Cash Flow Per Share	-0.79	-0.29	-0.07	-0.14
Cash Interest Paid	0.09	-	-	-
Levered Free Cash Flow	-0.8	-0.6	-0.09	0.31
Unlevered Free Cash Flow	-0.94	-0.65	-0.07	0.33
Change in Net Working Capital	0.32	0.18	-0.11	-0.28

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