CONOLOG CORPORATION
STATEMENTS OF CASH FLOWS
(UNAUDITED)
FOR THE SIX MONTHS
ENDED JANUARY 31,
1998 1998 1997
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income (Loss) $ (194,302) $(39,356)
Adjustments to Net Income to Reconcile to
Net Cash Provided by Operating Activities:
Depreciation and amortization 28,576 28,575
(Increase)/Decrease in Accounts Receivable (7,028) (7,879)
(Increase)/Decrease in Inventories (287,938) (36,066)
(Increase)/Decrease in Other Current Assets
(7,940) (10,226)
(Increase)/Decrease in Deferred Offering
Costs 113,813 -
Increase/(Decrease) in Accounts Payable (115,159) (226,930)
Increase/(Decrease) in Accrued Expenses
and other liabilities (85,755) (25,995)
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Net Cash Provided/(Used) in Operating
Activities (555,733) (317,877)
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CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of Property, Plant and Equipment (26,824) (8,610)
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CASH FLOWS FROM FINANCING ACTIVITIES:
Change in Capital Lease Obligations (3,802) (27,546)
Increase/(Decrease) in Other Assets - 13,832
Bridge Loan (Repayments)/Borrowings (200,000) 200,000
Repayments to Investors (916,235) -
Repayments of Long-term Borrowings - (93,703)
Issuance of Common Stock 716,000 200,001
Contributed Capital 2,014,660 -
Dividends (2,090) -
Repayments to Officers 7,000 -
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Net Cash Provided/(Used) by Financing
Activities 1,615,533 292,584
----------- ---------
NET INCREASE/(DECREASE) IN CASH $1,032,976 $ (33,903)
CASH AT BEGINNING OF YEAR 503,217 178,213
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CASH AT END OF PERIOD $1,536,193 $ 144,310
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Supplemental Disclosures of Cash Flow Information:
Cash paid during the period for:
Interest $ 22,447 $ 106,428
Income Taxes 2,260 4,960
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS
