APPI filed their March 31, 2002 10-Q today, little over a
month late. Their cash flow looks interesting in that $260M
was Amortization Exp. and $370M was for services paid with stock.
It looks like they paid off $212M in debt without generating more debt.
The following is their cash flow for the quarter:
ADVANCED PLANT PHARMACEUTICALS, INC.
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STATEMENTS OF CASH FLOWS
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FOR THE THREE MONTHS ENDED MARCH 31, 2002 AND 2001
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(UNAUDITED)
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2001 2001
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Cash Flows from Operating Activities:
Net Loss from operations $ (436,818) $ (173,787)
Adjustments to reconcile net loss from
operations to net cash used by operating
activities:
Depreciation and amortization expense 259,799 242
Inventory Adjustment 891
Services paid with common stock 370,200 -
Decrease in Accounts Receivable 1,454 -
(Decrease) Increase in accounts payable 4,460 11,769
Increase in accrued expenses 4,885 119,876
Net cash used by operations 204,871 (41,900)
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Cash Flows from Investing Activities:
Purchase of computer equipment - -
Net cash used by investing activities - -
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Cash Flows from Financing Activities:
Proceeds from short-term loans payable 0 41,900
Repayments on short-term loans payable (212,000) -
Net cash provided by financing activities (212,000) 41,900
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Net increase in Cash and cash equivalents (7,129) -
Cash and cash equivalents at beginning of period 7,316 -
Cash and cash equivalents at end of period $ 187 $ -
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