Consolidated Statements of Cash Flows
Years Ended December 31, 2010 and 2009
2010 2009
Cash flows from operating activities:
N et loss $ (6,096,543) $ (13,881,314)
A djustments to reconcile net loss to net cash used in operating activities:
Discontinued operations (10,070) 2,797,950
Depreciation and amortization 238,676 453,595
Inventory valuation adjustment - 496,087
C hange in fair value of warrants - (612)
A mortization of stock awards 943,255 3,302,530
N on-cash performance bonus 150,000 -
L oss on disposal of property and equipment 7,356 -
C hanges in operating assets and liabilities:
A ccounts receivable (263,363) (27,412)
Inventory (117,410) 29,629
Prepaid expenses 109,789 169,468
A ccounts payable and accrued liabilities (1,049,238) 998,409
Deferred revenue 3,472,914 (722,492)
N et cash used in discontinued operations (76,564) (1,292,560)
N et cash used in operating activities (2,691,198) (7,676,722)
Cash flows from investing activities:
Purchase of property and equipment (64,193) (33,660)
S ale of property and equipment 26,400 -
N et cash used in investing activities (37,793) (33,660)
Cash flows from financing activities:
Payments made under a capital lease (16,601) (20,339)
C ontribution from non-controlling interest 1,648 27,500
N et proceeds from sale of common stock 4,822,864 -
N et cash provided by financing activities 4,807,911 7,161
Net increase (decrease) in cash 2,078,920 (7,703,221)
Cash and cash equivalents, beginning of year 1,264,661 8,967,882
Cash and cash equivalents, end of year $ 3,343,581 $ 1,264,661
Supplemental disclosures
C ash paid for interest $ 706 $ 3,138
C ash paid for income taxes $ - $ -
Non-cash investing and financing activities
S ettlement of Sustainable Solutions, LLC operations $ 342,328 $ -
C apital expenditures included in accounts payable $ - $ 24,592
The accompanying notes are an integral part of these consolidated financial statements.
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T y r a T e c h , I n c . : A n n u a l R e p o rt 2 0 1 0
