Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31
Price to Earnings -1.33 -2.06 -3.02
Price to Sales
Book Value Per Common Share 3.64 4.55 7.58
Price to Book 1.04 1.49 1.76
Price to Operating Cash Flow -1.45 -2.35 -3.53
Price to Free Cash Flow
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 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30
Price to Earnings -2.16 -0.68 -1.53 -3.94 -10.50 -23.33 -2.04 -5.92 -17.72 -2.17 -2.11
Price to Sales
Book Value Per Common Share 4.90 2.18 2.81 3.64 4.40 5.07 6.25 4.55 5.29 6.19 6.94 7.58 14.89 27.79
Price to Book 0.94 0.51 0.50 1.04 1.94 3.15 2.35 1.49 0.96 1.44 1.76 1.76 0.61 0.36
Price to Operating Cash Flow -2.34 -0.78 -2.00 -4.25 -12.54 -18.70 -2.44 -6.42 -18.84 -2.56 -3.01
Price to Free Cash Flow
Enterprise Value to EBITDA

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31
Earning YoY
Revenue YoY
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 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30
Earning YoY
Revenue YoY
EBITDA YoY
Net Profit YoY

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31
Cash Per Common Share 3.81 4.64 11.62
Quick Ratio 9.66
Current Ratio 7.41 6.43 9.88
Debt to Equity 0.27 0.32 0.21
Long-Term Debt to Equity 0.13 0.16 0.11
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 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30
Cash Per Common Share 4.92 2.28 2.99 3.68 4.45 5.28 6.11 4.63 5.45 6.18 6.96 7.66 15.11 28.93
Quick Ratio 9.66 12.87 10.84
Current Ratio 13.15 4.74 4.95 7.41 8.47 7.45 15.78 6.43 6.35 8.88 9.35 9.88 13.16 11.01
Debt to Equity 0.17 0.44 0.39 0.27 0.24 0.25 0.16 0.32 0.31 0.24 0.22 0.21 0.08 0.10
Long-Term Debt to Equity 0.09 0.21 0.17 0.13 0.12 0.11 0.09 0.16 0.14 0.12 0.11 0.11 0.00 0.00

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31
ROA -59.64 -54.96 -31.78
ROE -75.86 -72.52 -38.47
Gross Margin
Operating Margin
EBITDA Margin
Net Profit Margin
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 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30
ROA -37.52 -52.12 -23.71 -39.79 -23.95 -8.71 -36.00 -19.68 -8.12 -25.98 -15.41
ROE -43.71 -74.89 -32.90 -49.28 -29.90 -10.07 -46.98 -24.33 -9.90 -28.07 -16.92
Gross Margin
Operating Margin
EBITDA Margin
Net Profit Margin

Dividends

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

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31
Assets 150,883.00 143,052.00 217,440.00
   Current Assets 123,761.00 112,678.00 186,083.00
      Cash and Short-Term Investments 120,200.00 110,400.00 181,752.00
            Cash and Cash Equivalents 49,421.00 80,774.00 181,752.00
            Short-Term Investments 70,770.00 29,633.00 0
      Net Receivables 0 0 58.00
      Inventory 0 0 0
      Other Current Assets 3,561.00 2,278.00 4,273.00
   Non-Current Assets 27,122.00 30,374.00 31,357.00
      Property, Plant, Equipment Net 25,148.00 28,384.00 29,884.00
      Goodwill 0 0 0
      Intangible Assets 0 0 0
      Long-Term Investments 0 0 0
      Non-Current Deferred Assets 0 0 0
      Other Non-Current Assets 1,974.00 1,990.00 1,473.00
Liabilities 32,263.00 34,631.00 37,809.00
   Current Liabilities 16,696.00 17,531.00 18,828.00
      Payables and Expenses 13,602.00 14,527.00 13,275.00
            Account Payables 1,752.00 1,005.00 1,362.00
            Current Accrued Liabilities 11,850.00 13,522.00 11,913.00
      Short-Term Debt 3,094.00 3,004.00 5,553.00
      Other Current Liabilities 0.00 0.00 0.00
   Non-Current Liabilities 15,567.00 17,100.00 18,981.00
      Long-Term Debt 15,567.00 17,100.00 18,981.00
      Other Non-Current Liabilities 0.00 0.00 0.00
Equity 118,620.00 108,421.00 179,631.00
   Shareholders Equity 118,620.00 108,421.00 179,631.00
      Capital Stock 3.00 2.00 2.00
      Share Premium 390,057.00 289,867.00 282,566.00
      Retained Earnings -271,463.00 -181,482.00 -102,856.00
      Treasury Shares 0 0 0
      Accumulated Other Comprehensive Income 23.00 34.00 -81.00
   Minority Interest 0 0 0
Investments 70,770.00 29,633.00 0
Debt 18,661.00 20,104.00 24,534.00
Common Shares Outstanding 32,619.66 23,823.24 23,713.20
Breakdown 2024-12-31 2023-12-31 2022-12-31
Operating Expenses 97,739.00 84,766.00 68,301.00
   Selling, General and Administrative Expenses 21,261.00 16,640.00 14,224.00
   Research and Development Expenses 76,478.00 68,126.00 54,077.00
   Other Operating Expenses 0.00 0.00 0.00
Operating Income -97,739.00 -84,766.00 -68,301.00
Net Non-Operating Income 7,141.00 6,213.00 2,903.00
Interest Expense 0.00 0.00 0.00
Net Interest 7,142.00 6,400.00 2,793.00
EBT -90,598.00 -78,553.00 -65,398.00
Income Tax 617.00 73.00 3,706.00
Net Income -89,981.00 -78,626.00 -69,104.00
EBIT -90,598.00 -78,553.00 -65,398.00
Deprecation and Amortization 5,430.00 1,184.00 493.00
EBITDA -85,168.00 -77,369.00 -64,905.00
EPS -0.00 -0.00 -0.00
Diluted EPS -0.00 -0.00 -0.00
Average Shares Outstanding Basic 31,583.07 23,796.00 15,639.73
Average Shares Outstanding Diluted 31,583.07 23,796.00 15,639.73
Breakdown 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow -82,372.00 -68,997.00 -59,265.00
   Operating Net Income -89,981.00 -78,626.00 -69,104.00
   Deprecation and Amortization 5,430.00 1,184.00 493.00
   Deferred Income Tax 0 0 0
   Share Based Compensation 11,457.00 7,048.00 4,763.00
   Change in Working Capital -2,644.00 -2,177.00 -291.00
   Other Operating Activities -6,634.00 3,574.00 4,874.00
Investing Cash Flow -37,668.00 -32,003.00 -3,755.00
   Capital Expenditure 0.00 0.00 0.00
   Net Purchase/Sale of PPE 497.00 2,599.00 3,755.00
   Net Purchase/Sale of Investments Net 253,171.00 29,404.00 0
   Net Purchase/Sale of Business 0 0 0
   Other Investing Activities -291,336.00 -64,006.00 -7,510.00
Financing Cash Flow 88,749.00 -189.00 112,193.00
   Net Issuance/Repayment of Debt 0 0 0
   Net Issuance/Repurchase of Equity 89,260.00 253.00 115,090.00
   Dividends Paid 0 0 0
   Other Financing Activities -511.00 -442.00 -2,897.00
Net Change in Cash -31,353.00 -100,903.00 48,857.00
   Cash at Beginning of Period 82,322.00 183,225.00 134,368.00
   Cash at End of Period 50,969.00 82,322.00 183,225.00
Free Cash Flow 0 0 0
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 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31
Assets 190,057.00 102,242.00 127,393.00 150,883.00 170,234.00 193,510.00 207,000.00 143,052.00 164,271.00 182,085.00 201,041.00 217,440.00 208,461.00 230,796.00 131,879.00
   Current Assets 166,206.00 77,486.00 101,047.00 123,761.00 142,369.00 164,778.00 177,619.00 112,678.00 133,090.00 150,378.00 168,470.00 186,083.00 204,248.00 226,480.00 125,668.00
      Cash and Short-Term Investments 163,700.00 74,700.00 97,800.00 120,200.00 138,900.00 161,300.00 175,200.00 110,400.00 129,538.00 147,027.00 165,403.00 181,752.00 195,783.00 218,817.00 118,854.00
            Cash and Cash Equivalents 142,775.00 35,072.00 43,633.00 49,421.00 42,289.00 66,085.00 133,854.00 80,774.00 129,538.00 147,027.00 165,403.00 181,752.00 195,783.00 218,817.00 118,854.00
            Short-Term Investments 20,890.00 39,581.00 54,148.00 70,770.00 96,568.00 95,221.00 41,369.00 29,633.00 0 0 0 0 0 0 0
      Net Receivables 0 0 0 0 0 0 0 0 0 0 0 58.00 3,881.00 4,230.00 4,574.00
      Inventory 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
      Other Current Assets 2,506.00 2,786.00 3,247.00 3,561.00 3,469.00 3,478.00 2,419.00 2,278.00 3,552.00 3,351.00 3,067.00 4,273.00 4,584.00 3,433.00 2,240.00
   Non-Current Assets 23,851.00 24,756.00 26,346.00 27,122.00 27,865.00 28,732.00 29,381.00 30,374.00 31,181.00 31,707.00 32,571.00 31,357.00 4,213.00 4,316.00 6,211.00
      Property, Plant, Equipment Net 21,931.00 22,782.00 24,372.00 25,148.00 25,891.00 26,776.00 27,523.00 28,384.00 29,191.00 30,005.00 31,098.00 29,884.00 2,740.00 2,843.00 2,569.00
      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 0 0 0 0 0 0 0
      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 1,920.00 1,974.00 1,974.00 1,974.00 1,974.00 1,956.00 1,858.00 1,990.00 1,990.00 1,702.00 1,473.00 1,473.00 1,473.00 1,473.00 3,642.00
Liabilities 26,917.00 31,084.00 35,588.00 32,263.00 32,779.00 38,470.00 28,001.00 34,631.00 38,406.00 34,801.00 36,198.00 37,809.00 15,519.00 20,577.00 16,290.00
   Current Liabilities 12,642.00 16,360.00 20,431.00 16,696.00 16,810.00 22,107.00 11,258.00 17,531.00 20,955.00 16,936.00 18,027.00 18,828.00 15,519.00 20,577.00 16,122.00
      Payables and Expenses 9,479.00 13,220.00 17,314.00 13,602.00 13,739.00 19,058.00 8,232.00 14,527.00 17,973.00 13,444.00 14,372.00 13,275.00 15,519.00 20,577.00 16,122.00
            Account Payables 766.00 856.00 2,699.00 1,752.00 5,930.00 7,741.00 1,480.00 1,005.00 3,989.00 1,815.00 1,472.00 1,362.00 4,622.00 5,392.00 1,888.00
            Current Accrued Liabilities 8,713.00 12,364.00 14,615.00 11,850.00 7,809.00 11,317.00 6,752.00 13,522.00 13,984.00 11,629.00 12,900.00 11,913.00 10,897.00 15,185.00 14,234.00
      Short-Term Debt 3,163.00 3,140.00 3,117.00 3,094.00 3,071.00 3,049.00 3,026.00 3,004.00 2,982.00 3,492.00 3,655.00 5,553.00 0 0 0
      Other Current Liabilities 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
   Non-Current Liabilities 14,275.00 14,724.00 15,157.00 15,567.00 15,969.00 16,363.00 16,743.00 17,100.00 17,451.00 17,865.00 18,171.00 18,981.00 0.00 0.00 168.00
      Long-Term Debt 14,275.00 14,724.00 15,157.00 15,567.00 15,969.00 16,363.00 16,743.00 17,100.00 17,451.00 17,865.00 18,171.00 18,981.00 0 0 0
      Other Non-Current Liabilities 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0 0 0
Equity 163,140.00 71,158.00 91,805.00 118,620.00 137,455.00 155,040.00 178,999.00 108,421.00 125,865.00 147,284.00 164,843.00 179,631.00 192,942.00 210,219.00 115,589.00
   Shareholders Equity 163,140.00 71,158.00 91,805.00 118,620.00 137,455.00 155,040.00 178,999.00 108,421.00 125,865.00 147,284.00 164,843.00 179,631.00 192,942.00 210,219.00 -99,174.00
      Capital Stock 7.00 3.00 3.00 3.00 3.00 3.00 3.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 0
      Share Premium 505,936.00 395,950.00 393,489.00 390,057.00 386,582.00 382,949.00 378,535.00 289,867.00 287,907.00 285,966.00 284,044.00 282,566.00 280,990.00 279,629.00 2,468.00
      Retained Earnings -342,778.00 -324,752.00 -301,665.00 -271,463.00 -249,221.00 -227,837.00 -199,502.00 -181,482.00 -161,987.00 -138,697.00 -119,175.00 -102,856.00 -87,920.00 -69,313.00 -51,998.00
      Treasury Shares 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
      Accumulated Other Comprehensive Income -25.00 -43.00 -22.00 23.00 91.00 -75.00 -37.00 34.00 -57.00 13.00 -28.00 -81.00 -130.00 -99.00 -57.00
   Minority Interest 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Investments 20,890.00 39,581.00 54,148.00 70,770.00 96,568.00 95,221.00 41,369.00 29,633.00 0 0 0 0 0 0 0
Debt 17,438.00 17,864.00 18,274.00 18,661.00 19,040.00 19,412.00 19,769.00 20,104.00 20,433.00 21,357.00 21,826.00 24,534.00 0 0 0
Common Shares Outstanding 0 0 0 32,619.66 0 0 0 23,823.24 0 0 0 23,713.20 0 0 0
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 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31
Operating Expenses 73,907.00 55,253.00 31,321.00 -45,676.00 73,394.00 50,223.00 19,798.00 -36,395.00 63,955.00 39,175.00 18,031.00 -28,214.00 51,088.00 31,534.00 13,893.00
   Selling, General and Administrative Expenses 16,715.00 11,484.00 5,943.00 -10,110.00 15,877.00 10,428.00 5,066.00 -7,049.00 12,129.00 7,889.00 3,671.00 -5,726.00 10,177.00 6,587.00 3,186.00
   Research and Development Expenses 57,192.00 43,769.00 25,378.00 -35,566.00 57,517.00 39,795.00 14,732.00 -29,346.00 51,826.00 31,286.00 14,360.00 -22,488.00 40,911.00 24,947.00 10,707.00
   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 0.00 0.00 0.00 0.00
Operating Income -73,907.00 -55,253.00 -31,321.00 45,676.00 -73,394.00 -50,223.00 -19,798.00 36,395.00 -63,955.00 -39,175.00 -18,031.00 28,214.00 -51,088.00 -31,534.00 -13,893.00
Net Non-Operating Income 2,592.00 1,964.00 1,119.00 -4,160.00 5,655.00 3,868.00 1,778.00 -3,657.00 4,824.00 3,334.00 1,712.00 1,103.00 1,340.00 393.00 67.00
Interest Expense 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Interest 2,598.00 1,964.00 1,122.00 -4,131.00 5,682.00 3,856.00 1,735.00 -3,922.00 5,054.00 3,476.00 1,792.00 1,323.00 1,202.00 259.00 9.00
EBT -71,315.00 -53,289.00 -30,202.00 41,516.00 -67,739.00 -46,355.00 -18,020.00 32,738.00 -59,131.00 -35,841.00 -16,319.00 29,317.00 -49,748.00 -31,141.00 -13,826.00
Income Tax 0.00 0.00 0.00 617.00 0.00 0.00 0.00 73.00 0.00 0.00 0.00 -9,554.00 4,420.00 4,420.00 4,420.00
Net Income -71,315.00 -53,289.00 -30,202.00 42,133.00 -67,739.00 -46,355.00 -18,020.00 32,665.00 -59,131.00 -35,841.00 -16,319.00 38,871.00 -54,168.00 -35,561.00 -18,246.00
EBIT -71,315.00 -53,289.00 -30,202.00 41,516.00 -67,739.00 -46,355.00 -18,020.00 32,738.00 -59,131.00 -35,841.00 -16,319.00 29,317.00 -49,748.00 -31,141.00 -13,826.00
Deprecation and Amortization 1,061.00 722.00 1,084.00 278.00 4,030.00 746.00 376.00 -277.00 830.00 481.00 150.00 -126.00 348.00 205.00 66.00
EBITDA -70,254.00 -52,567.00 -29,118.00 41,794.00 -63,709.00 -45,609.00 -17,644.00 32,461.00 -58,301.00 -35,360.00 -16,169.00 29,191.00 -49,400.00 -30,936.00 -13,760.00
EPS -0.00 -0.00 -0.00 0.00 -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 -0.00 0.00 -0.00 -0.00 0
Average Shares Outstanding Basic 33,268.26 32,711.89 32,674.72 35,872.47 31,240.62 30,562.79 28,656.40 23,856.69 23,788.95 23,776.45 23,761.92 42,040.70 12,954.92 7,563.28 0
Average Shares Outstanding Diluted 33,268.26 32,711.89 32,674.72 35,872.47 31,240.62 30,562.79 28,656.40 23,856.69 23,788.95 23,776.45 23,761.92 42,040.70 12,954.92 7,563.28 0
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 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31
Operating Cash Flow -65,790.00 -46,531.00 -22,930.00 41,942.00 -62,897.00 -38,885.00 -22,532.00 29,095.00 -49,573.00 -33,097.00 -15,422.00 23,796.00 -45,878.00 -24,911.00 -12,272.00
   Operating Net Income -71,315.00 -53,289.00 -30,202.00 42,133.00 -67,739.00 -46,355.00 -18,020.00 32,665.00 -59,131.00 -35,841.00 -16,319.00 38,871.00 -54,168.00 -35,561.00 -18,246.00
   Deprecation and Amortization 1,061.00 722.00 1,084.00 278.00 4,030.00 746.00 376.00 -277.00 830.00 481.00 150.00 -126.00 348.00 205.00 66.00
   Deferred Income Tax 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
   Share Based Compensation 8,172.00 5,795.00 3,432.00 -3,559.00 8,110.00 4,884.00 2,022.00 -2,611.00 5,126.00 3,185.00 1,348.00 -1,499.00 3,404.00 2,043.00 815.00
   Change in Working Capital -7,835.00 -2,658.00 2,592.00 1,560.00 -1,841.00 4,040.00 -6,403.00 718.00 2,300.00 -2,023.00 -3,172.00 -21,250.00 6,154.00 10,260.00 4,545.00
   Other Operating Activities 4,127.00 2,899.00 164.00 1,530.00 -5,457.00 -2,200.00 -507.00 -1,400.00 1,302.00 1,101.00 2,571.00 7,800.00 -1,616.00 -1,858.00 548.00
Investing Cash Flow 51,009.00 32,106.00 17,149.00 101,829.00 -64,169.00 -64,036.00 -11,292.00 -26,217.00 -2,415.00 -2,190.00 -1,181.00 2,735.00 -2,653.00 -2,223.00 -1,614.00
   Capital Expenditure 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
   Net Purchase/Sale of PPE 265.00 168.00 125.00 91.00 269.00 84.00 53.00 -3,187.00 2,415.00 2,190.00 1,181.00 -2,735.00 2,653.00 2,223.00 1,614.00
   Net Purchase/Sale of Investments Net 64,726.00 45,726.00 30,726.00 -101,920.00 183,900.00 123,952.00 47,239.00 29,404.00 0 0 0 0 0 0 0
   Net Purchase/Sale of Business 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
   Other Investing Activities -13,982.00 -13,788.00 -13,702.00 203,658.00 -248,338.00 -188,072.00 -58,584.00 -52,434.00 -4,830.00 -4,380.00 -2,362.00 5,470.00 -5,306.00 -4,446.00 -3,228.00
Financing Cash Flow 108,150.00 98.00 0 -175,133.00 88,621.00 88,294.00 86,967.00 -423.00 -215.00 319.00 130.00 -113,161.00 111,976.00 113,396.00 -18.00
   Net Issuance/Repayment of Debt 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
   Net Issuance/Repurchase of Equity 108,225.00 98.00 0 -175,770.00 89,132.00 88,725.00 87,173.00 -307.00 215.00 215.00 130.00 -114,256.00 114,673.00 114,673.00 0
   Dividends Paid 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
   Other Financing Activities -75.00 0.00 0 637.00 -511.00 -431.00 -206.00 -116.00 -430.00 104.00 0.00 1,095.00 -2,697.00 -1,277.00 -18.00
Net Change in Cash 93,354.00 -14,349.00 -5,788.00 -31,259.00 -38,485.00 -14,689.00 53,080.00 2,235.00 -52,139.00 -34,650.00 -16,349.00 -85,913.00 62,889.00 85,922.00 -14,041.00
   Cash at Beginning of Period 50,969.00 50,969.00 50,969.00 82,228.00 82,322.00 82,322.00 82,322.00 80,087.00 183,225.00 183,225.00 183,225.00 269,138.00 134,367.00 134,368.00 134,368.00
   Cash at End of Period 144,323.00 36,620.00 45,181.00 50,969.00 43,837.00 67,633.00 135,402.00 82,322.00 131,086.00 148,575.00 166,876.00 183,225.00 197,256.00 220,290.00 120,327.00
Free Cash Flow 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0