BIFS TECHNOLOGIES CORPORATION
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CONSOLIDATED STATEMENTS OF CASH FLOWS
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FOR THE THREE MONTHS ENDED
MARCH 31, 2001 AND 2000
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Three months ended
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2000 2000
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(Unaudited) (Unaudited)
CASH FLOWS FROM OPERATING ACTIVITIES
Cash received from customers $ 98,743 $ -
Cash paid for expenses (856,972) ( 55,983)
Interest 2,662 ( 443)
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Net cash used by operating activities (755,570) ( 56,426)
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CASH FLOWS FROM INVESTING ACTIVITIES
Advances to related company - ( 40,000)
Purchase of fixed assets 75,500 -
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Net cash used by investing
activities ( 75,500) ( 40,000)
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CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from sale of stock 331,000 -
Collections on stock subscription
receivable - 312,500
Proceeds from stockholder note
payable 250,000 6,746
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Net cash provided by financing
activities 581,000 319,246
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NET (DECREASE) INCREASE IN CASH (250,070) 222,820
CASH, BEGINNING OF PERIOD 682,803 6
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CASH, END OF PERIOD $ 432,733 $ 222,826
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