Korver Corp. (KOVR)

Korver Cash Flow Statement

Financials in millions USD. Fiscal year is April - March.

Fiscal Year	FY 2004	FY 2003	FY 2002
Period Ending	Mar 31, 2004	Mar 31, 2003	Mar 31, 2002
Net Income	-0.31	-0.38	-0.02
Depreciation & Amortization	0.02	0.01	0.02
Other Amortization	0.04	0.04	0.05
Loss (Gain) From Sale of Assets	0	0	0
Loss (Gain) From Sale of Investments	-0	-	-0.05
Other Operating Activities	-0.05	-	0.01
Change in Accounts Receivable	-0.02	-0.01	0.03
Change in Inventory	0.13	0.16	0.01
Change in Accounts Payable	-0.03	0.05	-0.05
Change in Other Net Operating Assets	0.07	-0.02	-0.03
Operating Cash Flow	-0.15	-0.13	-0.02
Capital Expenditures	-0	-0.01	-0
Sale (Purchase) of Intangibles	-	-	-0.01
Investment in Securities	0.01	-	0.14
Other Investing Activities	-0.01	0.01	0.01
Investing Cash Flow	0	0.01	0.13
Short-Term Debt Issued	0.05	-	-
Long-Term Debt Issued	0.01	0.07	0.06
Total Debt Issued	0.06	0.07	0.06
Net Debt Issued (Repaid)	0.06	0.07	0.06
Financing Cash Flow	0.06	0.07	0.06
Net Cash Flow	-0.09	-0.05	0.17
Free Cash Flow	-0.15	-0.14	-0.02
Free Cash Flow Margin	-20.62%	-13.85%	-1.80%
Cash Interest Paid	0.02	0.01	-
Levered Free Cash Flow	0.02	0.04	-
Unlevered Free Cash Flow	0.02	0.04	-
Change in Working Capital	0.15	0.19	-0.03

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