Victor Mining Industry Group Inc. (VMTG)

VMTG Cash Flow Statement

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

Fiscal Year	TTM	FY 2005	FY 2004	FY 2003
Period Ending	Sep 30, 2006	Dec 31, 2005	Dec 31, 2004	Dec 31, 2003
Net Income	-3.18	-2.73	-3.66	-0.96
Depreciation & Amortization	0.08	0.09	0.11	0.11
Other Amortization	0.64	0.53	0.65	0.12
Stock-Based Compensation	0.94	0.81	1.85	0.05
Other Operating Activities	-	-	0.14	-
Change in Accounts Receivable	-0.01	-0.13	-0.03	-0.02
Change in Inventory	0.01	-0.08	-0.02	-0.03
Change in Accounts Payable	0.51	0.65	0.37	0.23
Change in Other Net Operating Assets	-0.04	-0.08	-0	-0
Operating Cash Flow	-1.08	-0.93	-0.59	-0.5
Capital Expenditures	-0	-0.01	-0	-0
Investing Cash Flow	0.08	-0.01	-0	-0
Short-Term Debt Issued	-	0.05	0.02	0.1
Long-Term Debt Issued	-	1.65	0.59	0.41
Total Debt Issued	1.67	1.7	0.61	0.51
Long-Term Debt Repaid	-	-0.61	-0.01	-
Net Debt Issued (Repaid)	1.02	1.09	0.6	0.51
Financing Cash Flow	1.02	1.09	0.6	0.51
Net Cash Flow	0.02	0.16	0.01	0
Free Cash Flow	-1.08	-0.94	-0.6	-0.5
Free Cash Flow Margin	-68.42%	-70.60%	-90.46%	-115.35%
Free Cash Flow Per Share	-30.63	-31.28	-	-
Cash Interest Paid	0.06	0.05	0.01	0.01
Cash Income Tax Paid	-	0	0	0
Levered Free Cash Flow	0.2	0.08	-	-
Unlevered Free Cash Flow	-0.05	-0.12	-	-
Change in Net Working Capital	-0.5	-0.36	-	-

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