EX-99.2 3 dex992.txt UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS EXHIBIT 99.2 OPENWAVE SYSTEMS INC. AND SUBSIDIARIES UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands)
Years ended June 30, ----------------------------- 2000 1999 1998 --------- -------- -------- Cash flows from operating activities: Net loss...................................... $(288,257) $(37,037) $(25,561) Adjustments to reconcile net loss to net cash provided by (used for) operating activities: Depreciation and amortization............... 225,425 3,922 2,739 Amortization of deferred stock-based compensation............................... 6,413 2,236 335 Nonemployee equity-based compensation....... 3,771 -- -- Loss on disposal of assets.................. 10 10 -- Accrued interest on convertible notes....... 26 -- -- Provision for doubtful accounts............. 1,907 790 554 In-process research and development......... 27,700 3,210 -- Changes in operating assets and liabilities: Accounts receivable....................... (41,832) (32,219) (9,857) Prepaid expenses and other assets......... (6,354) (2,148) (367) Accounts payable.......................... (2,423) 3,309 1,314 Accrued liabilities....................... 11,535 7,578 2,600 Deferred revenue.......................... 53,824 36,483 6,387 --------- -------- -------- Net cash used for operating activities.. (8,255) (13,866) (21,856) --------- -------- -------- Cash flows from investing activities: Purchases of property and equipment, net...... (28,374) (5,839) (1,957) Restricted cash and short term investments.... (20,700) -- -- Purchases of short-term investments........... (622,538) (84,877) (32,842) Proceeds from maturities of short-term investments.................................. 255,988 47,129 16,375 Acquisitions, net of cash acquired............ (32,694) (1,601) -- Other assets.................................. (386) (190) (746) --------- -------- -------- Net cash used for investing activities.. (448,704) (45,378) (19,170) --------- -------- -------- Cash flows from financing activities: Net proceeds from issuance of convertible preferred stock.............................. 15,783 29,979 37,532 Issuance of common stock...................... 410,411 139,062 883 Repayment of notes receivable from stockholders................................. 235 11 12 Proceeds (repayments) of note payable to bank, net.......................................... (546) (7,635) 3,157 Proceeds from capital lease obligations and long-term debt............................... 5,000 7,613 4,659 Repayments of capital lease obligations and long-term debt............................... (3,189) (1,747) (801) --------- -------- -------- Net cash provided by financing activities............................. 427,694 167,283 45,442 --------- -------- -------- Effect of exchange rate on cash and cash equivalents.................................... $ (172) $ -- $ -- --------- -------- -------- Effect of conforming fiscal year ends........... 23,044 -- -- --------- -------- -------- Net increase (decrease) in cash and cash equivalents.................................... (6,393) 108,039 4,416 Cash and cash equivalents at beginning of year.. 126,978 18,939 14,523 --------- -------- -------- Cash and cash equivalents at end of year........ $ 120,585 $126,978 $ 18,939 ========= ======== ========