Pennexx Foods Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2002	FY 2001	FY 2000	FY 1999
Period Ending	Mar '03 Mar 31, 2003	Dec '02 Dec 31, 2002	Dec '01 Dec 31, 2001	Dec '00 Dec 31, 2000	Dec '99 Dec 31, 1999
Net Income	-11.94	-8.79	-2.69	-4.95	-1.27
Depreciation & Amortization	1.06	0.97	0.6	0.33	0.09
Loss (Gain) From Sale of Assets	-0.07	-0.07	-	-	-
Stock-Based Compensation	1	1	0.23	2.02	-
Provision & Write-off of Bad Debts	0.57	0.5	-	0.03	-
Other Operating Activities	-	-	0.03	0.23	-
Change in Accounts Receivable	-0.4	-0.46	-1.21	-1.31	-0.24
Change in Inventory	-0.55	-0.94	-0.66	-0.47	-0.03
Change in Accounts Payable	0.78	3.39	-0.79	2.68	0.5
Change in Other Net Operating Assets	-0.33	-0.26	-0.16	0.2	0.07
Operating Cash Flow	-9.87	-4.68	-4.65	-1.25	-0.88
Capital Expenditures	-17.08	-17.52	-1.01	-0.81	-1.27
Other Investing Activities	-2.69	-0.1	-0.02	-0.03	-0.03
Investing Cash Flow	-19.77	-17.61	-1.03	-0.84	-1.3
Long-Term Debt Issued	-	18.31	2.5	1.52	-
Total Debt Issued	18.31	18.31	2.5	1.52	1.55
Long-Term Debt Repaid	-	-0.24	-0.3	-0.76	-
Total Debt Repaid	-9.78	-0.24	-0.3	-0.76	-0.15
Net Debt Issued (Repaid)	8.53	18.08	2.2	0.76	1.4
Issuance of Common Stock	6.96	1.99	5.9	1.24	1.01
Financing Cash Flow	27.39	20.06	8.1	1.99	2.41
Net Cash Flow	-2.26	-2.23	2.42	-0.09	0.22
Free Cash Flow	-26.96	-22.2	-5.66	-2.06	-2.16
Free Cash Flow Margin	-53.33%	-45.59%	-13.37%	-15.14%	-378.35%
Free Cash Flow Per Share	-1.02	-0.87	-0.30	-0.22	-0.34
Cash Interest Paid	0.56	0.43	0.21	0.11	0.05
Levered Free Cash Flow	-21.84	-27.48	-4.83	-0.43	-
Unlevered Free Cash Flow	-21.47	-27.24	-4.68	-0.21	-
Change in Net Working Capital	-0.76	6.32	2.82	-1.13	-

Source: S&P Capital IQ. Standard template. Financial Sources.