Page 71 - English

STATEMENT OF CASH
FLOWS
For the year ended 31 December 2015
Notes
2015 2014 USD ‘000 USD ‘000
OPERATING ACTIVITIES
Excess of expenses over income for the year before appropriations (36,282) (37,001)
Adjustments for:
Depreciation 4 189 161
Amortisation of intangible assets 5 457 301
Allowance for impairment of doubtful debts 6 - 83
Loss on sale of furniture and equipment 7 3
Interest income (299) (385)
Operating loss before working capital changes (35,928) (36,838)
Working capital changes:
Accounts receivable and prepayments 656 (43)
Accounts payable and accruals (819) 542
Cash flows used in operating activities (36,091) (36,334)
Interest received 197 417
Net cash flows used in operating activities (35,894) (35,922)
INVESTING ACTIVITIES
Acquisition of furniture and equipment 4 (172) (115)
Acquisition of intangible assets 5 (406) (1,021)
Cash flows used in investing activities (578) (1,136)
FINANCING ACTIVITY
Appropriations received from the Government 2 37,135 24,366
Appropriations from the Government received in advance (112) 11
Cash flows from financing activity 37,023 24,377
INCREASE \ (DECREASE) IN CASH AND CASH EQUIVALENTS 551 (12,681)
Cash and cash equivalents at the beginning of the year 25,593 38,274
CASH AND CASH EQUIVALENTS AT 31 DECEMBER
7 26,144 25,593
The attached notes 1 to 16 form part of these financial statements.
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