T YR AT ECH, INC. / ANNUAL R EPORT 20 0 9
Consolidated Statements of Cash Flows
Years Ended December 31, 2009 and 2008
2009
2008
Cash flows from operating activities:
Net loss
$ (13,881,314
)
$ (17,404,811
)
Adjustments to reconcile net loss to net cash used in operating activities:
D
epreciation and amortisation
453,595
479,618
I
nventory valuation adjustment
1,922,359
712,293
P
rovision for a doubtful receivable
90,893
878,697
C
hange in fair value of warrants
(612
)
(997,312
)
A
mortisation of stock awards
3,302,530
4,090,831
Changes in operating assets and liabilities:
A
ccounts receivable
(105,962
)
(952,895
)
I
nventory
(866,889
)
(1,643,438
)
P
repaid expenses
581,723
(513,425
)
A
ccounts payable and accrued liabilities
1,342,328
(2,127,515
)
D
eferred revenue
(722,492
)
(406,674
)
Net cash used in operating activities
(7,883,841
)
(17,884,631
)
Cash flows used for investing activities:
Purchase of property and equipment
(33,659
)
(404,626
)
Loan to director
-
(497,297
)
Net cash used in investing activities
(33,659
)
(901,923
)
Cash flows provided by financing activities:
Payments made under a capital lease
(20,339
)
(18,462
)
Contribution from non-controlling interest
27,500
-
Net proceeds from sale of common stock
-
459,101
Net cash provided by financing activities
7,161
440,641
Net decrease in cash:
(7,910,339
)
(18,345,913
)
Cash and cash equivalents, beginning of year
9,175,712
27,521,625
Cash and cash equivalents, end of year
$ 1,265,373
$ 9,175,712
Supplemental disclosures:
Cash paid for interest
$ 3,138
$ 4,579
Cash paid for income taxes
$ -
$ -
Non-cash investing and financing activities:
T
he Company received 59,502 shares of treasury stock in settlement of a loan
with an employee
$ -
$ 497,294
Capital expenditures included in accounts payable
$ 24,592
$ -
The accompanying notes are an integral part of these consolidated financial statements.
