Consolidated Statements of Cash Flows
YEARS ENDED DECEMBER 31, 2011 & 2010
TYRATECH, INC. • ANNUAL REPORT 2011 • PAGE 33
2011 2010
Cash flows from operating activities:
Net loss $(2,721,500) $(6,096,543)
Adjustments to reconcile net loss to net cash used in operating activities:
Discontinued operations - (10,070)
Depreciation and amortization 246,934 238,676
Amortization of stock awards 716,848 943,255
Non-cash performance bonus - 150,000
Loss on disposal of fixed assets 130,717 7,356
Changes in operating assets and liabilities:
Accounts receivable 779,607 (263,363)
Inventory 173,517 (117,410)
Prepaid expenses 32,485 109,789
Accounts payable and accrued liabilities (564,991) (1,049,238)
Other liabilities (1,193) -
Deposits (65,000) -
Deferred revenue (1,044,544) 3,472,914
Net cash (used) provided from discontinued operations 597 (76,564)
Net cash used in operating activities (2,316,523) (2,691,198)
Cash flows from investing activities:
Purchase of property and equipment (131,639) (64,193)
Sale of property and equipment - 26,400
Net cash used in investing activities (131,639) (37,793)
Cash flows from financing activities:
Payments made under a capital lease - (16,601)
Contribution from non-controlling interest 847 1,648
Net proceeds from sale of treasury stock 8,830 -
Net proceeds from sale of common stock 19 4,822,864
Net cash provided by financing activities 9,696 4,807,911
Net (decrease) increase in cash (2,438,466) 2,078,920
Cash and cash equivalents, beginning of year 3,343,581 1,264,661
Cash and cash equivalents, end of year $905,115 $3,343,581
Supplemental disclosures
Cash paid for interest - $706
Cash paid for income taxes - -
Non-cash investing and financing activities
Settlement of Sustainable Solutions, LLC operations - $342,328
The accompanying notes are an integral part of these consolidated financial statements.
