ICBS, Ltd. Cash Flow Statement

Financials in millions CAD. Fiscal year is July - June.

Millions CAD. Fiscal year is Jul - Jun.

Fiscal Year	FY 2001	FY 2000
Period Ending	Jun '01 Jun 30, 2001	Jun '00 Jun 30, 2000
Net Income	-0.74	-0.57
Depreciation & Amortization	0.06	0.03
Other Operating Activities	-0.05	-
Change in Accounts Receivable	-0.65	-0.28
Change in Inventory	0.05	-0.05
Change in Accounts Payable	0.83	0.18
Change in Unearned Revenue	0.19	-
Change in Other Net Operating Assets	-0.23	-0.05
Operating Cash Flow	-1	-0.58
Capital Expenditures	-0.06	-0.14
Investing Cash Flow	-0.06	-0.14
Short-Term Debt Issued	0.16	0.3
Long-Term Debt Issued	0.83	0.42
Total Debt Issued	0.99	0.72
Long-Term Debt Repaid	-0.03	-0.19
Net Debt Issued (Repaid)	0.95	0.53
Issuance of Common Stock	0.25	-
Financing Cash Flow	1.2	0.53
Net Cash Flow	0.15	-0.19
Free Cash Flow	-1.05	-0.72
Free Cash Flow Margin	-8.65%	-7.58%
Levered Free Cash Flow	-4.1	-
Unlevered Free Cash Flow	-4.05	-
Change in Net Working Capital	3.67	-

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