Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Price to Earnings -5.38 -6.78 -9.09 -3.90
Price to Sales 24033.33 1406.25 -11750.00 85.77 51.18
Book Value Per Common Share 1.71 2.75 3.77 4.86 6.08
Price to Book 4.22 4.10 4.37 1.89 1.85
Price to Operating Cash Flow -6.41 -7.90 -12.33 -4.83 -12.17
Price to Free Cash Flow -7.90 -12.31 -4.18 -12.05
Enterprise Value to EBITDA
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-03-31 2022-12-31 2022-03-31 2021-12-31 2021-03-31 2020-12-31
Price to Earnings -17.95 -14.33 -19.23 -19.19 -19.00 -29.94 -6.67 -10.55 -13.84
Price to Sales 37700.00 38700.00 50000.00 61400.00 66500.00 101800.00 388.06 10550.00 8700.00 645.21
Book Value Per Common Share 1.94 1.90 1.83 1.71 1.88 2.15 2.44 2.75 2.85 3.40 3.77 4.28 4.86 6.44 6.08
Price to Book 1.94 2.04 2.74 4.22 3.27 3.10 4.17 4.10 0.91 1.24 4.37 1.42 1.89 2.19 1.85
Price to Operating Cash Flow -11.73 -16.29 -22.43 -10.04 -26.05 -44.07 -3.50 -10.90 -19.80 -27.62
Price to Free Cash Flow -10.87 -19.79 -22.67
Enterprise Value to EBITDA

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Earning YoY
Revenue YoY -95.31 -46.12
EBITDA YoY
Net Profit YoY
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-03-31 2022-12-31 2022-03-31 2021-12-31 2021-03-31 2020-12-31
Earning YoY
Revenue YoY 0.00 0.00 0.00 0.00 0.00 -98.62 1623.81 -34.38 -96.18
EBITDA YoY
Net Profit YoY

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Cash Per Common Share 1.86 3.72 3.94 4.61 5.81
Quick Ratio 12.66 16.39 10.85 10.44 18.35
Current Ratio 13.11 17.26 11.31 11.17 19.16
Debt to Equity 0.13 0.09 0.12 0.10 0.09
Long-Term Debt to Equity 0.04 0.02 0.02 0.01 0.03
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-03-31 2022-12-31 2022-03-31 2021-12-31 2021-03-31 2020-12-31
Cash Per Common Share 2.36 2.25 1.98 1.82 1.96 2.33 2.57 2.80 2.63 3.31 3.76 4.09 4.64 5.92 5.81
Quick Ratio 16.79 19.90 15.35 12.66 16.19 10.91 16.09 16.39 11.94 11.10 10.85 9.42 10.44 23.55 18.35
Current Ratio 17.18 20.44 15.85 13.11 16.87 11.30 16.55 17.26 12.89 11.58 11.31 9.99 11.17 24.96 19.16
Debt to Equity 0.18 0.18 0.11 0.13 0.11 0.14 0.09 0.09 0.11 0.12 0.12 0.11 0.10 0.07 0.09
Long-Term Debt to Equity 0.11 0.12 0.04 0.04 0.04 0.04 0.02 0.02 0.03 0.03 0.02 0.01 0.01 0.03 0.03

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
ROA -68.24 -41.99 -40.94 -44.36 -20.01
ROE -76.97 -45.57 -45.72 -48.76 -21.71
Gross Margin
Operating Margin -475250.00 -20753.99 -2201.13 -665.11
EBITDA Margin -457190.00 -20285.92 -2188.63 -661.47
Net Profit Margin -475295.00 -20762.21 -2201.43 -599.20
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-03-31 2022-12-31 2022-03-31 2021-12-31 2021-03-31 2020-12-31
ROA -8.70 -11.63 -12.45 -15.45 -14.21 -12.95 -12.41 -10.73 -9.45 -5.63
ROE -10.24 -13.72 -13.77 -17.13 -16.15 -14.11 -13.74 -11.97 -10.51 -6.03
Gross Margin
Operating Margin -370380.00 -437640.00 -405100.00 -456780.00 -492780.00 -487860.00 -5702.21 -95580.95 -60525.00 -1773.39
EBITDA Margin -353860.00 -429620.00 -391960.00 -420420.00 -472620.00 -470340.00 -5410.22 -93885.71 -60153.13 -1764.52
Net Profit Margin -380280.00 -442920.00 -391500.00 -456900.00 -492800.00 -487880.00 -5710.22 -95590.48 -60718.75 -1774.79

Dividends

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Dividend Yield
Dividend Payout Ratio
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-03-31 2022-12-31 2022-03-31 2021-12-31 2021-03-31 2020-12-31
Dividend Yield
Dividend Payout Ratio

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Assets 139,306.00 210,640.00 206,928.00 218,864.84 245,115.21
   Current Assets 137,254.00 209,626.00 192,813.00 204,126.11 230,257.21
      Cash and Short-Term Investments 131,933.00 197,856.00 184,914.00 190,334.95 215,957.54
            Cash and Cash Equivalents 36,968.00 135,158.00 111,131.00 190,334.95 115,951.98
            Short-Term Investments 94,965.00 62,698.00 73,783.00 0 100,005.56
      Net Receivables 544.00 1,111.00 173.00 428.84 4,610.20
      Inventory 0 0 0 0 0
      Other Current Assets 4,777.00 10,659.00 7,726.00 13,362.33 9,689.47
   Non-Current Assets 2,052.00 1,014.00 14,115.00 14,738.73 14,858.00
      Property, Plant, Equipment Net 2,052.00 1,014.00 1,677.00 2,245.96 1,960.74
      Goodwill 0 0 0 0 0
      Intangible Assets 0 0 12,419.00 12,418.97 12,823.85
      Long-Term Investments 0 0 0 0 0
      Non-Current Deferred Assets 0 0 0 0 0
      Other Non-Current Assets 0.00 0.00 19.00 73.80 73.41
Liabilities 15,798.00 16,541.00 21,635.00 19,730.13 19,238.89
   Current Liabilities 10,468.00 12,143.00 17,054.00 18,275.93 12,020.45
      Payables and Expenses 3,290.00 5,385.00 7,759.00 4,347.93 12,020.45
            Account Payables 211.00 2,070.00 4,804.00 2,034.49 612.29
            Current Accrued Liabilities 3,079.00 3,315.00 2,955.00 2,313.44 11,408.15
      Short-Term Debt 279.00 496.00 452.00 411.45 356.72
      Other Current Liabilities 6,899.00 6,262.00 8,843.00 13,516.55 -356.72
   Non-Current Liabilities 5,330.00 4,398.00 4,581.00 1,454.20 7,218.44
      Long-Term Debt 1,402.00 175.00 4,581.00 1,454.20 1,828.44
      Other Non-Current Liabilities 3,928.00 4,223.00 0.00 0.00 5,390.00
Equity 123,508.00 194,099.00 185,293.00 199,134.71 225,876.32
   Shareholders Equity 123,508.00 194,099.00 185,293.00 199,134.71 225,876.32
      Capital Stock 7.00 7.00 5.00 4.09 3.70
      Share Premium 689,864.00 665,427.00 568,399.00 497,342.21 417,337.74
      Retained Earnings -561,390.00 -466,331.00 -377,884.00 -293,171.42 -186,420.60
      Treasury Shares 0 0 0 0 0
      Accumulated Other Comprehensive Income -4,973.00 -5,004.00 -5,227.00 -5,040.16 -5,044.52
   Minority Interest 0 0 0 0 0
Investments 94,965.00 62,698.00 73,783.00 0 100,005.56
Debt 1,681.00 671.00 4,581.00 1,454.20 1,828.44
Common Shares Outstanding 72,352.70 70,677.40 49,199.85 40,993.77 37,142.95
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Revenues 20.00 426.00 -68.00 4,410.36 8,185.03
Operating Expenses 103,192.00 96,355.00 87,672.00 101,324.40 62,983.77
   Selling, General and Administrative Expenses 20,966.00 18,137.00 17,134.00 15,413.28 13,209.44
   Research and Development Expenses 82,226.00 65,799.00 70,538.00 86,141.12 49,774.33
   Other Operating Expenses 0.00 12,419.00 0.00 -230.00 0.00
Operating Income -103,172.00 -95,929.00 -87,740.00 -96,914.04 -54,798.74
Net Non-Operating Income 8,113.00 7,482.00 2,830.00 -176.78 337.24
Interest Income 8,083.00 7,386.00 2,878.00 215.96 344.56
Interest Expense 9.00 35.00 8.00 13.22 22.05
Net Interest 8,074.00 7,351.00 2,870.00 202.74 322.51
EBT -95,059.00 -88,447.00 -84,910.00 -97,090.82 -54,461.50
Income Tax 0.00 0.00 197.00 0.00 5,417.02
Net Income -95,059.00 -88,447.00 -84,713.00 -97,090.82 -49,044.48
EBIT -95,050.00 -88,412.00 -84,902.00 -97,077.60 -54,439.46
Deprecation and Amortization 3,612.00 1,994.00 205.00 551.30 298.06
EBITDA -91,438.00 -86,418.00 -84,697.00 -96,526.30 -54,141.40
EPS -0.00 -0.00 -0.00 -0.00 0
Diluted EPS -0.00 -0.00 -0.00 -0.00 0
Average Shares Outstanding Basic 71,003.40 53,246.94 46,926.35 41,283.50 0
Average Shares Outstanding Diluted 71,003.40 53,246.94 46,926.35 41,283.50 0
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Operating Cash Flow -79,848.00 -75,810.00 -62,586.00 -78,237.94 -34,436.64
   Operating Net Income -95,059.00 -88,447.00 -84,713.00 -97,090.82 -49,044.48
   Deprecation and Amortization -3,612.00 -1,994.00 -205.00 551.30 298.06
   Deferred Income Tax 0 0 0 0 0
   Share Based Compensation 14,393.00 10,640.00 8,101.00 5,518.89 2,576.01
   Change in Working Capital 3,421.00 -5,017.00 5,676.00 -304.31 -11,499.97
   Other Operating Activities 1,009.00 9,008.00 8,555.00 13,087.00 23,233.75
Investing Cash Flow -28,386.00 13,732.00 -73,399.00 87,523.13 -72,094.96
   Capital Expenditure 0.00 -47.00 -126.00 -12,311.65 -342.42
   Net Purchase/Sale of PPE 0 -47.00 -126.00 -12,311.65 -342.42
   Net Purchase/Sale of Investments Net -28,386.00 13,779.00 -73,273.00 99,834.78 -71,752.53
   Net Purchase/Sale of Business 0 0 0 0 0
   Other Investing Activities 0.00 47.00 126.00 12,311.65 342.42
Financing Cash Flow 10,044.00 86,105.00 56,781.00 65,097.78 213,486.71
   Net Issuance/Repayment of Debt 0 0 0 0 -632.00
   Net Issuance/Repurchase of Equity 10,894.00 86,929.00 56,781.00 65,216.31 89,458.90
   Dividends Paid 0 0 0 0 0
   Other Financing Activities -850.00 -824.00 0.00 -118.52 124,659.82
Net Change in Cash -98,190.00 24,027.00 -79,204.00 74,382.97 106,955.12
   Cash at Beginning of Period 135,158.00 111,131.00 190,335.00 115,951.98 8,996.86
   Cash at End of Period 36,968.00 135,158.00 111,131.00 190,334.95 115,951.98
Free Cash Flow 0 -75,857.00 -62,712.00 -90,549.59 -34,779.06
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-03-31 2022-12-31 2022-03-31 2021-12-31 2021-03-31 2020-12-31
Assets 218,447.00 190,350.00 157,263.00 139,306.00 147,864.00 173,346.00 188,358.00 210,640.00 166,573.00 187,083.00 206,928.00 205,660.00 218,864.84 264,250.76 245,115.21
   Current Assets 216,615.00 188,422.00 155,262.00 137,254.00 145,759.00 171,186.00 187,515.00 209,626.00 152,964.00 173,111.00 192,813.00 191,093.00 204,126.11 245,191.82 230,257.21
      Cash and Short-Term Investments 210,818.00 183,147.00 149,868.00 131,933.00 139,422.00 164,949.00 182,065.00 197,856.00 140,820.00 165,763.00 184,914.00 179,981.00 190,334.95 226,541.33 215,957.54
            Cash and Cash Equivalents 61,278.00 183,147.00 49,146.00 36,968.00 31,516.00 57,169.00 79,019.00 135,158.00 86,896.00 104,724.00 111,131.00 179,981.00 190,334.95 149,966.56 115,951.98
            Short-Term Investments 149,540.00 0 100,722.00 94,965.00 107,906.00 107,780.00 103,046.00 62,698.00 53,924.00 61,039.00 73,783.00 0 0 76,574.77 100,005.56
      Net Receivables 845.00 321.00 507.00 544.00 428.00 424.00 307.00 1,111.00 876.00 252.00 173.00 193.00 428.84 4,801.43 4,610.20
      Inventory 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
      Other Current Assets 4,952.00 4,954.00 4,887.00 4,777.00 5,909.00 5,813.00 5,143.00 10,659.00 11,268.00 7,096.00 7,726.00 10,919.00 13,362.33 13,849.07 9,689.47
   Non-Current Assets 1,832.00 1,928.00 2,001.00 2,052.00 2,105.00 2,160.00 843.00 1,014.00 13,609.00 13,972.00 14,115.00 14,567.00 14,738.73 19,058.94 14,858.00
      Property, Plant, Equipment Net 337.00 364.00 384.00 2,052.00 2,105.00 2,160.00 844.00 1,014.00 1,189.00 1,548.00 1,677.00 2,087.00 2,245.96 6,064.39 1,960.74
      Goodwill 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
      Intangible Assets 0 0 0 0 0 0 0 0 12,419.00 12,419.00 12,419.00 12,419.00 12,418.97 12,879.25 12,823.85
      Long-Term Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
      Non-Current Deferred Assets 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
      Other Non-Current Assets 1,495.00 1,564.00 1,617.00 0.00 0.00 0.00 -1.00 0.00 1.00 5.00 19.00 61.00 73.80 115.30 73.41
Liabilities 32,846.00 28,983.00 15,101.00 15,798.00 14,487.00 20,815.00 15,421.00 16,541.00 16,176.00 19,351.00 21,635.00 20,792.00 19,730.13 17,813.33 19,238.89
   Current Liabilities 12,606.00 9,220.00 9,798.00 10,468.00 8,638.00 15,155.00 11,333.00 12,143.00 11,871.00 14,951.00 17,054.00 19,124.00 18,275.93 9,823.89 12,020.45
      Payables and Expenses 7,215.00 2,679.00 2,081.00 3,290.00 3,447.00 4,717.00 4,798.00 5,385.00 5,473.00 6,238.00 7,759.00 3,322.00 4,347.93 9,823.89 12,020.45
            Account Payables 4,804.00 851.00 1,077.00 211.00 1,133.00 2,688.00 3,760.00 2,070.00 3,046.00 5,238.00 4,804.00 2,205.00 2,034.49 418.24 612.29
            Current Accrued Liabilities 2,411.00 1,828.00 1,004.00 3,079.00 2,314.00 2,029.00 1,038.00 3,315.00 2,427.00 1,000.00 2,955.00 1,117.00 2,313.44 9,405.65 11,408.15
      Short-Term Debt 247.00 239.00 245.00 279.00 313.00 345.00 508.00 496.00 485.00 463.00 452.00 421.00 411.45 365.50 356.72
      Other Current Liabilities 5,144.00 6,302.00 7,472.00 6,899.00 4,878.00 10,093.00 6,027.00 6,262.00 5,913.00 8,250.00 8,843.00 15,381.00 13,516.55 -365.50 -356.72
   Non-Current Liabilities 20,240.00 19,763.00 5,303.00 5,330.00 5,849.00 5,660.00 4,088.00 4,398.00 4,305.00 4,400.00 4,581.00 1,668.00 1,454.20 7,989.44 7,218.44
      Long-Term Debt 14,445.00 14,332.00 1,342.00 1,402.00 1,460.00 1,517.00 44.00 175.00 4,305.00 4,400.00 4,581.00 1,668.00 1,454.20 1,719.44 1,828.44
      Other Non-Current Liabilities 5,795.00 5,431.00 3,961.00 3,928.00 4,389.00 4,143.00 4,044.00 4,223.00 0.00 0.00 0.00 0.00 0.00 6,270.00 5,390.00
Equity 185,601.00 161,367.00 142,162.00 123,508.00 133,377.00 152,531.00 172,937.00 194,099.00 150,397.00 167,732.00 185,293.00 184,868.00 199,134.71 246,437.43 225,876.32
   Shareholders Equity 185,601.00 161,367.00 142,162.00 123,508.00 133,377.00 152,531.00 172,937.00 194,099.00 150,397.00 167,732.00 185,293.00 184,868.00 199,134.71 246,437.43 225,876.32
      Capital Stock 10.00 9.00 8.00 7.00 7.00 7.00 7.00 7.00 5.00 5.00 5.00 4.00 4.09 3.81 3.70
      Share Premium 812,732.00 769,508.00 728,122.00 689,864.00 676,425.00 673,081.00 668,816.00 665,427.00 590,206.00 570,786.00 568,399.00 502,505.00 497,342.21 462,417.71 417,337.74
      Retained Earnings -622,125.00 -603,111.00 -580,965.00 -561,390.00 -538,210.00 -515,365.00 -490,725.00 -466,331.00 -434,690.00 -397,958.00 -377,884.00 -312,601.00 -293,171.42 -210,944.71 -186,420.60
      Treasury Shares 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
      Accumulated Other Comprehensive Income -5,016.00 -5,039.00 -5,003.00 -4,973.00 -4,845.00 -5,192.00 -5,161.00 -5,004.00 -5,124.00 -5,101.00 -5,227.00 -5,040.00 -5,040.16 -5,039.38 -5,044.52
   Minority Interest 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Investments 149,540.00 0 100,722.00 94,965.00 107,906.00 107,780.00 103,046.00 62,698.00 53,924.00 61,039.00 73,783.00 0 0 76,574.77 100,005.56
Debt 14,445.00 14,332.00 1,342.00 1,681.00 1,773.00 1,862.00 552.00 671.00 4,305.00 4,400.00 4,581.00 1,668.00 1,454.20 1,719.44 1,828.44
Common Shares Outstanding 95,598.66 85,076.30 77,825.45 72,352.70 71,124.41 71,046.27 70,899.13 70,677.40 52,858.92 49,286.71 49,199.85 43,219.90 40,993.77 38,257.18 37,142.95
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-09-30 2023-03-31 2022-03-31 2021-03-31
Revenues 5.00 5.00 5.00 5.00 5.00 5.00 5.00 362.00 21.00 32.00 837.52
Operating Expenses 20,864.00 22,927.00 21,820.00 24,871.00 24,772.00 26,750.00 26,799.00 22,902.00 21,780.00 19,531.00 15,699.32
   Selling, General and Administrative Expenses 5,904.00 5,691.00 5,993.00 5,090.00 4,969.00 5,595.00 5,312.00 4,514.00 4,531.00 4,427.00 3,821.42
   Research and Development Expenses 14,960.00 17,236.00 15,827.00 19,781.00 19,803.00 21,155.00 21,487.00 18,388.00 17,249.00 15,104.00 11,877.90
   Other Operating Expenses 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Income -20,859.00 -22,922.00 -21,815.00 -24,866.00 -24,767.00 -26,745.00 -26,794.00 -22,540.00 -21,759.00 -19,499.00 -14,861.80
Net Non-Operating Income 1,845.00 776.00 1,559.00 1,686.00 1,922.00 2,105.00 2,400.00 1,869.00 1,685.00 69.00 -2.30
Interest Income 2,921.00 1,396.00 1,546.00 1,570.00 1,916.00 2,183.00 2,414.00 1,913.00 1,670.00 83.00 54.17
Interest Expense 495.00 264.00 1.00 1.00 6.00 1.00 1.00 29.00 2.00 62.00 11.67
Net Interest 2,426.00 1,132.00 1,545.00 1,569.00 1,910.00 2,182.00 2,413.00 1,884.00 1,668.00 21.00 42.50
EBT -19,014.00 -22,146.00 -20,256.00 -23,180.00 -22,845.00 -24,640.00 -24,394.00 -20,671.00 -20,074.00 -19,430.00 -14,864.11
Income Tax 0.00 0.00 681.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Income -19,014.00 -22,146.00 -19,575.00 -23,180.00 -22,845.00 -24,640.00 -24,394.00 -20,671.00 -20,074.00 -19,430.00 -14,864.11
EBIT -18,519.00 -21,882.00 -20,255.00 -23,179.00 -22,839.00 -24,639.00 -24,393.00 -20,642.00 -20,072.00 -19,368.00 -14,852.44
Deprecation and Amortization 826.00 401.00 657.00 -90.00 1,818.00 1,008.00 876.00 1,057.00 356.00 119.00 74.30
EBITDA -17,693.00 -21,481.00 -19,598.00 -23,269.00 -21,021.00 -23,631.00 -23,517.00 -19,585.00 -19,716.00 -19,249.00 -14,778.14
EPS -0.00 -0.00 -0.00 0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 0
Diluted EPS -0.00 -0.00 -0.00 0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 0
Average Shares Outstanding Basic 89,418.03 81,477.55 75,547.75 71,202.73 71,084.79 70,924.37 70,801.71 53,633.35 50,125.68 43,969.48 0
Average Shares Outstanding Diluted 89,418.03 81,477.55 75,547.75 71,202.73 71,084.79 70,924.37 70,801.71 53,633.35 50,125.68 43,969.48 0
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-09-30 2023-03-31 2022-03-31 2021-03-31
Operating Cash Flow -28,737.00 -19,350.00 -16,840.00 -1,908.00 -43,475.00 -18,108.00 -16,357.00 -39,870.00 -19,407.00 -13,526.00 -19,569.16
   Operating Net Income -38,589.00 -22,146.00 -19,575.00 1,214.00 -47,239.00 -24,640.00 -24,394.00 -36,732.00 -20,074.00 -19,430.00 -14,864.11
   Deprecation and Amortization -826.00 -401.00 -657.00 90.00 -1,818.00 -1,008.00 -876.00 -1,057.00 -356.00 119.00 74.30
   Deferred Income Tax -681.00 0.00 -681.00 0 0.00 0.00 0 0.00 0 0 0
   Share Based Compensation 7,569.00 3,566.00 4,015.00 -296.00 6,728.00 4,311.00 3,650.00 5,496.00 2,675.00 2,033.00 1,218.35
   Change in Working Capital 3,896.00 -1,507.00 475.00 -6,785.00 5,209.00 -1,543.00 6,540.00 -6,448.00 1,943.00 3,453.00 -4,721.17
   Other Operating Activities -106.00 1,138.00 -417.00 3,869.00 -6,355.00 4,772.00 -1,277.00 -1,129.00 -3,595.00 299.00 -1,276.53
Investing Cash Flow -154,422.00 101,107.00 -5,101.00 53,153.00 -38,322.00 -3,696.00 -39,521.00 8,389.00 13,302.00 -9.00 19,165.10
   Capital Expenditure 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -51.00 -9.00 -4,270.83
   Net Purchase/Sale of PPE 0.00 -10.00 0 0 0.00 0.00 0 4.00 -51.00 -9.00 -4,270.83
   Net Purchase/Sale of Investments Net -154,422.00 101,117.00 -5,101.00 53,153.00 -38,322.00 -3,696.00 -39,521.00 8,385.00 13,353.00 0 23,435.93
   Net Purchase/Sale of Business 0.00 0.00 0 0 0.00 0.00 0 0.00 0 0 0
   Net Loan & Lease Activity 0 0 0 0 0
   Other Investing Activities 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 51.00 9.00 4,270.83
Financing Cash Flow 73,468.00 52,244.00 34,119.00 10,346.00 5.00 -46.00 -261.00 13,653.00 -302.00 3,181.00 34,418.64
   Net Issuance/Repayment of Debt 0.00 15,000.00 0 0 0.00 0.00 0 0.00 0 0 0
   Net Issuance/Repurchase of Equity 74,593.00 37,827.00 34,922.00 9,748.00 609.00 198.00 339.00 14,003.00 135.00 3,300.00 34,284.23
   Dividends Paid 0.00 0.00 0 0 0.00 0.00 0 0.00 0 0 0
   Other Financing Activities -1,125.00 -583.00 -803.00 598.00 -604.00 -244.00 -600.00 -350.00 -437.00 -119.00 134.41
Net Change in Cash -109,691.00 134,001.00 12,178.00 61,591.00 -81,792.00 -21,850.00 -56,139.00 -17,828.00 -6,407.00 -10,354.00 34,014.58
   Cash at Beginning of Period 170,969.00 49,146.00 36,968.00 -24,623.00 113,308.00 79,019.00 135,158.00 104,724.00 111,131.00 190,335.00 115,951.98
   Cash at End of Period 61,278.00 183,147.00 49,146.00 36,968.00 31,516.00 57,169.00 79,019.00 86,896.00 104,724.00 179,981.00 149,966.56
Free Cash Flow 0.00 0.00 0 0 0.00 0.00 0 0.00 -19,458.00 -13,535.00 -23,839.99