NovMetaPharma Cash Flow Statement

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

Millions KRW. Fiscal year is Jan - Dec.

Fiscal Year	FY 2014	FY 2013
Period Ending	Dec '14 Dec 31, 2014	Dec '13 Dec 31, 2013
Net Income	408.03	19.62
Depreciation & Amortization	48.18	31.88
Loss (Gain) From Sale of Investments	-417.3	-
Provision & Write-off of Bad Debts	-1.4	-
Other Operating Activities	-44.09	18.52
Change in Accounts Receivable	140	-138.6
Change in Inventory	-447.31	202.24
Change in Accounts Payable	42.6	18.65
Change in Other Net Operating Assets	91.93	12.43
Operating Cash Flow	-179.36	164.74
Capital Expenditures	-84.45	-0.48
Sale (Purchase) of Intangibles	-0.62	-3.79
Investment in Securities	-582.7	-
Other Investing Activities	-768.17	-453.43
Investing Cash Flow	-1,436	-457.7
Issuance of Common Stock	2,703	1,360
Financing Cash Flow	2,703	1,360
Miscellaneous Cash Flow Adjustments	0	-0
Net Cash Flow	1,087	1,067
Free Cash Flow	-263.81	164.26
Free Cash Flow Margin	-20.36%	15.39%
Free Cash Flow Per Share	-77.58	58.60
Levered Free Cash Flow	268.76	-
Unlevered Free Cash Flow	268.76	-
Change in Net Working Capital	-382.76	-

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