GEROVA Financial Group Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2009	FY 2008	FY 2007
Period Ending	Dec '09 Dec 31, 2009	Dec '08 Dec 31, 2008	Dec '07 Dec 31, 2007
Net Income	0.34	0.13	-0
Other Amortization	0.7	0.01	-
Change in Accounts Payable	0.37	0.27	0.34
Change in Other Net Operating Assets	0.01	0.13	-0.33
Operating Cash Flow	1.4	0.54	0
Operating Cash Flow Growth	160.41%	20072.48%	-
Other Investing Activities	-	-115	-
Investing Cash Flow	-	-115	-
Short-Term Debt Issued	0.75	0.69	-
Total Debt Issued	0.75	0.69	0.67
Short-Term Debt Repaid	-1.25	-0.69	-
Total Debt Repaid	-1.25	-0.69	-
Net Debt Issued (Repaid)	-0.5	-	0.67
Issuance of Common Stock	-	115	0.03
Other Financing Activities	-0.02	-0.64	-0.44
Financing Cash Flow	-0.52	114.36	0.26
Net Cash Flow	0.88	-0.1	0.26
Cash Interest Paid	0.12	0	-
Levered Free Cash Flow	0.55	-0.71	-
Unlevered Free Cash Flow	-	-0.7	-
Change in Net Working Capital	-0.37	0.13	-

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