EX-99.1B5 12 dex991b5.htm STATEMENTS OF CASH FLOWS Statements of Cash Flows

Exhibit 99.1 (b) 5

 

ARCLIGHT SYSTEMS LLC

 

Statements of Cash Flows

 

Year ended December 31, 2002 and Period from April 1, 2001

(date of inception of operations) to December 31, 2001

 

     2002

    2001

 

Cash flows from operating activities:

                

Net income (loss)

   $ 55,537,075     $ (5,802,593 )

Adjustments to reconcile net loss to net cash used in operating activities:

                

Net income from discontinued operations

     (78,862,837 )     (3,272,883 )

Depreciation

     1,403,794       728,570  

Amortization of intangible assets

     3,256,305       985,161  

Amortization of capitalized software

     401,294       10,325  

Net loss from disposal of assets

     550,682       —    

Non-cash data costs

     77,261       —    

Changes in assets and liabilities:

                

Accounts receivable

     11,901       (612,951 )

Prepaid expenses and other assets

     (536,347 )     66,140  

Accounts payable

     164,852       162,673  

Payable to Cardinal Health

     (658,305 )     934,643  

Other assets and liabilities, net of investing activity related accruals

     2,759,431       1,120,669  
    


 


Net cash used in continuing operations

     (15,894,894 )     (5,680,246 )

Net cash provided by discontinued operations

     1,219,419       3,181,294  
    


 


Net cash used in operating activities

     (14,675,475 )     (2,498,952 )
    


 


Cash flows from investing activities:

                

Net proceeds from sale of ScriptLINE business

     77,950,455       —    

Purchases of property and equipment

     (1,049,434 )     (1,398,167 )

Capitalized software

     (1,500,307 )     (165,531 )
    


 


Net cash provided by (used in) investing activities

     75,400,714       (1,563,698 )
    


 


Cash flows from financing activities:

                

Proceeds from issuance of note payable to related parties

     4,000,000       5,000,000  

Repayments of notes payable to related parties

     (9,000,000 )     —    

Distributions

     (450,000 )     —    
    


 


Net cash provided by (used in) financing activities

     (5,450,000 )     5,000,000  
    


 


Net increase in cash and cash equivalents

     55,275,239       937,350  

Cash and cash equivalents at beginning of period

     937,350       —    
    


 


Cash and cash equivalents at end of period

   $ 56,212,589     $ 937,350  
    


 


Supplemental disclosure of cash flow information:

                

Interest paid

   $ 114,045     $ 63,195  
    


 


Noncash financing activities:

                

Intangible assets received through the issuance of Class B and C units

   $ 3,542,285     $ 14,514,512  
    


 


 

See accompanying notes to financial statements.