TreeCon Resources Cash Flow Statement

Financials in millions USD. Fiscal year is October - September.

Millions USD. Fiscal year is Oct - Sep.

Fiscal Year	FY 2003	FY 2002	FY 2001	FY 2000
Period Ending	Sep '03 Sep 30, 2003	Sep '02 Sep 30, 2002	Sep '01 Sep 30, 2001	Sep '00 Sep 30, 2000
Net Income	-2.91	-4.98	-1.08	3.82
Depreciation & Amortization	0.75	0.6	0.92	0.91
Loss (Gain) From Sale of Assets	-1	-0.36	-	-
Asset Writedown & Restructuring Costs	-	3.77	-	-
Loss (Gain) on Equity Investments	0.28	0.77	-	-
Stock-Based Compensation	-	-	-	0.05
Provision & Write-off of Bad Debts	0.82	0.7	0.54	0.27
Other Operating Activities	2.07	0.87	2.16	-2.83
Change in Accounts Receivable	2.09	3.2	-3	1.96
Change in Inventory	2.37	2.61	0.95	-0.43
Change in Accounts Payable	-0.43	-0.57	0.53	2
Change in Other Net Operating Assets	0.31	-0.58	-0.89	-2.01
Operating Cash Flow	4.34	5.66	-0.17	3.75
Operating Cash Flow Growth	-23.31%	-	-	24.30%
Capital Expenditures	-0.81	-0.56	-0.7	-0.31
Sale of Property, Plant & Equipment	1.01	0.39	-	-
Divestitures	-	0.95	0.45	1.45
Other Investing Activities	0.73	1.54	-1.54	-0.18
Investing Cash Flow	0.93	2.32	-1.79	0.96
Short-Term Debt Issued	-	-	2.79	-
Long-Term Debt Issued	0.17	1.83	-	-
Total Debt Issued	0.17	1.83	2.79	-
Short-Term Debt Repaid	-3.14	-2.57	-	-
Long-Term Debt Repaid	-2.07	-5.59	-1.12	-3.64
Total Debt Repaid	-5.21	-8.16	-1.12	-3.64
Net Debt Issued (Repaid)	-5.04	-6.33	1.66	-3.64
Issuance of Common Stock	-	-	0.06	-
Other Financing Activities	-	-	-0.05	-
Financing Cash Flow	-5.04	-6.33	1.68	-4.09
Net Cash Flow	0.23	1.64	-0.28	0.62
Free Cash Flow	3.53	5.1	-0.87	3.44
Free Cash Flow Growth	-30.75%	-	-	70.90%
Free Cash Flow Margin	8.54%	13.17%	-2.01%	7.81%
Free Cash Flow Per Share	0.19	0.27	-0.05	0.19
Cash Interest Paid	0.16	0.59	0.84	1
Cash Income Tax Paid	-	0.06	0.08	0.02
Levered Free Cash Flow	23.92	6.69	1.36	-6.32
Unlevered Free Cash Flow	25.35	7.96	2.86	-4.74
Change in Working Capital	4.33	4.66	-2.42	1.52