Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings -0.72 -1.30 -3.14
Price to Sales 65.75
Book Value Per Common Share 1.49 2.81 4.47 5.47
Price to Book 0.65 0.85 1.47 1.75
Price to Operating Cash Flow -0.85 -1.60 -3.65 -6.73
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 2022-03-31 2021-12-31 2021-09-30 2021-06-30
Price to Earnings -7.13 -0.79 -3.12 -1.08 -1.61 -3.94 -2.50 -6.36 -13.28 -8.77 -7.19
Price to Sales 35.14 35.58 139.26 84.17 191.43
Book Value Per Common Share 1.50 1.10 1.30 1.49 1.71 1.93 2.36 2.81 3.27 3.68 4.11 4.47 4.11 4.60 5.07 5.47 5.80 -12.17
Price to Book 0.33 0.31 0.50 0.65 0.69 0.69 0.78 0.85 1.03 1.54 1.39 1.47 3.52 1.64 1.38 1.75 3.03
Price to Operating Cash Flow -0.89 -0.82 -2.87 -1.28 -2.20 -4.88 -2.80 -7.10 -12.25 -10.52 -8.43 -16.34 -15.84
Price to Free Cash Flow
Enterprise Value to EBITDA

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
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 2022-03-31 2021-12-31 2021-09-30 2021-06-30
Earning YoY
Revenue YoY 50.00 100.00 100.00
EBITDA YoY
Net Profit YoY

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash Per Common Share 1.50 2.72 5.31 5.58
Quick Ratio
Current Ratio 10.87 12.39 16.71 27.61
Debt to Equity 0.10 0.09 0.07 0.04
Long-Term Debt to Equity 0.00 0.00 0.00 0.00
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 2021-12-31 2021-09-30 2021-06-30
Cash Per Common Share 1.32 1.02 1.22 1.58 1.74 2.09 2.31 2.91 3.01 3.42 3.74 4.47 4.33 4.84 5.02 5.58 5.82 19.78
Quick Ratio
Current Ratio 14.74 9.98 14.68 10.87 9.55 7.52 9.77 12.39 14.08 18.23 23.72 16.71 12.61 21.20 28.93 27.61 26.20 15.99
Debt to Equity 0.07 0.11 0.07 0.10 0.12 0.16 0.11 0.09 0.08 0.06 0.05 0.07 0.09 0.05 0.04 0.04 0.04 0.07
Long-Term Debt to Equity 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 0.00 0.00 0.00

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA -84.83 -64.49 -36.94 -25.81
ROE -93.71 -70.22 -39.37 -26.77
Gross Margin
Operating Margin -8732.08
EBITDA Margin -8711.48
Net Profit Margin -9084.12
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 2021-12-31 2021-09-30 2021-06-30
ROA -4.62 -37.53 -16.28 -59.15 -38.15 -19.15 -40.78 -24.36 -10.67 -35.12 -20.62 -8.56 -17.85 -20.32
ROE -4.96 -41.65 -17.46 -65.99 -44.07 -21.34 -43.96 -25.81 -11.16 -38.24 -21.70 -8.89 -18.55 -21.66
Gross Margin
Operating Margin -354.09 -4308.49 -4175.47 -7512.04 -11402.34
EBITDA Margin -340.09 -4295.75 -4162.26 -7495.15 -11379.26
Net Profit Margin -491.51 -4514.62 -4452.36 -7814.55 -11794.31

Dividends

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

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Assets 68,108.00 115,620.00 180,435.00 182,185.00
   Current Assets 67,841.00 114,789.00 179,496.00 180,869.00
      Cash and Short-Term Investments 65,500.00 109,900.00 169,000.00 179,334.00
            Cash and Cash Equivalents 13,903.00 24,494.00 56,958.00 179,334.00
            Short-Term Investments 51,608.00 85,435.00 112,036.00 0
      Net Receivables 0 0 0 0
      Inventory 0 0 0 0
      Other Current Assets 2,341.00 4,889.00 10,496.00 1,535.00
   Non-Current Assets 267.00 831.00 939.00 1,316.00
      Property, Plant, Equipment Net 267.00 592.00 909.00 1,211.00
      Goodwill 0 0 0 0
      Intangible Assets 0 0 0 0
      Long-Term Investments 0 439.00 30.00 1,605.00
      Non-Current Deferred Assets 0 0 0 0
      Other Non-Current Assets 0.00 -200.00 0.00 -1,500.00
Liabilities 6,454.00 9,436.00 11,118.00 6,583.00
   Current Liabilities 6,242.00 9,263.00 10,744.00 6,551.00
      Payables and Expenses 5,240.00 9,044.00 10,563.00 6,551.00
            Account Payables 278.00 976.00 1,114.00 603.00
            Current Accrued Liabilities 4,962.00 8,068.00 9,449.00 5,948.00
      Short-Term Debt 154.00 219.00 181.00 0
      Other Current Liabilities 848.00 0.00 0.00 0.00
   Non-Current Liabilities 212.00 173.00 374.00 32.00
      Long-Term Debt 0 173.00 374.00 0
      Other Non-Current Liabilities 0 0.00 0.00 0
Equity 61,654.00 106,184.00 169,317.00 175,602.00
   Shareholders Equity 61,654.00 106,184.00 169,317.00 175,602.00
      Capital Stock 4.00 4.00 4.00 3.00
      Share Premium 354,602.00 341,410.00 330,208.00 269,626.00
      Retained Earnings -293,020.00 -235,245.00 -160,681.00 -94,027.00
      Treasury Shares 0 0 0 0
      Accumulated Other Comprehensive Income 68.00 15.00 -214.00 0
   Minority Interest 0 0 0 0
Investments 51,608.00 85,874.00 112,096.00 1,605.00
Debt 154.00 392.00 555.00 0
Common Shares Outstanding 41,510.16 37,829.57 37,837.37 32,129.97
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenues 636.00 0 0 0
Operating Expenses 61,132.00 78,932.00 67,884.00 45,648.00
   Selling, General and Administrative Expenses 19,625.00 25,388.00 27,195.00 18,739.00
   Research and Development Expenses 124,921.00 54,444.00 43,789.00 26,909.00
   Other Operating Expenses -83,414.00 -900.00 -3,100.00 0.00
Operating Income -60,496.00 -78,932.00 -67,884.00 -45,648.00
Net Non-Operating Income 4,960.00 6,409.00 2,305.00 140.00
Interest Expense 0.00 0.00 0.00 10.00
EBT -55,536.00 -72,523.00 -65,579.00 -45,508.00
Income Tax 0.00 0.00 0.00 0.00
Equity Method Investments Income -39.00 -41.00 25.00 -5.00
Net Income -57,775.00 -74,564.00 -66,654.00 -47,013.00
EBIT -55,536.00 -72,523.00 -65,579.00 -45,498.00
Deprecation and Amortization 131.00 150.00 167.00 109.00
EBITDA -55,405.00 -72,373.00 -65,412.00 -45,389.00
EPS -0.00 -0.00 -0.00 0
Diluted EPS -0.00 -0.00 -0.00 0
Average Shares Outstanding Basic 43,544.82 40,447.39 31,821.31 0
Average Shares Outstanding Diluted 43,544.82 40,447.39 31,821.31 0
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow -49,282.00 -60,265.00 -57,284.00 -45,533.00
   Operating Net Income -173,325.00 -74,564.00 -66,654.00 -47,013.00
   Deprecation and Amortization 131.00 150.00 167.00 109.00
   Deferred Income Tax 0 0 0 0
   Share Based Compensation 7,993.00 10,920.00 9,499.00 3,645.00
   Change in Working Capital -5,706.00 -7,361.00 8,354.00 5,235.00
   Other Operating Activities 121,625.00 10,590.00 -8,650.00 -7,509.00
Investing Cash Flow 33,492.00 27,658.00 -112,170.00 -2,333.00
   Capital Expenditure 0.00 0.00 0.00 0.00
   Net Purchase/Sale of PPE 0 12.00 54.00 333.00
   Net Purchase/Sale of Investments Net 133,358.00 246,748.00 290,816.00 0
   Net Purchase/Sale of Business 2,000.00 4,550.00 300.00 2,000.00
   Other Investing Activities -101,866.00 -223,652.00 -403,340.00 -4,666.00
Financing Cash Flow 5,199.00 143.00 51,078.00 82,967.00
   Net Issuance/Repayment of Debt 0 0 0 0
   Net Issuance/Repurchase of Equity 5,467.00 282.00 238.00 86,200.00
   Dividends Paid 0 0 0 0
   Other Financing Activities -268.00 -139.00 50,840.00 -3,233.00
Net Change in Cash -10,591.00 -32,464.00 -118,376.00 35,101.00
   Cash at Beginning of Period 24,494.00 56,958.00 175,334.00 140,233.00
   Cash at End of Period 13,903.00 24,494.00 56,958.00 175,334.00
Free Cash Flow 0 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 2021-12-31 2021-09-30 2021-06-30
Assets 67,661.00 51,003.00 57,983.00 68,108.00 79,007.00 92,431.00 99,359.00 115,620.00 133,194.00 147,576.00 162,318.00 180,435.00 143,666.00 155,607.00 169,353.00 182,185.00 193,865.00 120,097.00
   Current Assets 66,627.00 50,265.00 57,381.00 67,841.00 78,230.00 91,436.00 98,545.00 114,789.00 132,422.00 146,834.00 161,276.00 179,496.00 142,429.00 154,299.00 167,782.00 180,869.00 192,392.00 118,431.00
      Cash and Short-Term Investments 59,300.00 45,700.00 54,500.00 65,500.00 75,100.00 88,600.00 94,200.00 109,900.00 121,400.00 137,800.00 150,400.00 169,000.00 132,400.00 147,400.00 161,400.00 179,334.00 186,978.00 112,729.00
            Cash and Cash Equivalents 32,122.00 9,445.00 14,779.00 13,903.00 25,320.00 16,671.00 19,301.00 24,494.00 19,158.00 32,559.00 39,519.00 56,958.00 51,711.00 60,753.00 81,425.00 179,334.00 186,978.00 112,729.00
            Short-Term Investments 27,197.00 36,304.00 39,716.00 51,608.00 49,819.00 71,943.00 74,874.00 85,435.00 102,226.00 105,279.00 110,870.00 112,036.00 80,709.00 86,615.00 79,984.00 0 0 0
      Net Receivables 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
      Inventory 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
      Other Current Assets 7,327.00 4,565.00 2,881.00 2,341.00 3,130.00 2,836.00 4,345.00 4,889.00 11,022.00 9,034.00 10,876.00 10,496.00 10,029.00 6,899.00 6,382.00 1,535.00 5,414.00 5,702.00
   Non-Current Assets 1,034.00 738.00 602.00 267.00 777.00 995.00 814.00 831.00 772.00 742.00 1,042.00 939.00 1,237.00 1,308.00 1,571.00 1,316.00 1,473.00 1,666.00
      Property, Plant, Equipment Net 224.00 112.00 189.00 267.00 346.00 427.00 510.00 592.00 670.00 742.00 825.00 909.00 993.00 1,081.00 1,156.00 1,211.00 445.00 306.00
      Goodwill 0 0 0 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 0 0 0
      Long-Term Investments 0 1,226.00 813.00 0 831.00 1,168.00 604.00 439.00 102.00 0 417.00 30.00 444.00 427.00 815.00 1,605.00 2,028.00 2,760.00
      Non-Current Deferred Assets 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
      Other Non-Current Assets 810.00 -600.00 -400.00 0.00 -400.00 -600.00 -300.00 -200.00 0.00 0.00 -200.00 0.00 -200.00 -200.00 -400.00 -1,500.00 -1,000.00 -1,400.00
Liabilities 4,627.00 5,039.00 3,910.00 6,454.00 8,189.00 12,414.00 10,202.00 9,436.00 9,613.00 8,319.00 7,121.00 11,118.00 11,723.00 7,756.00 6,317.00 6,583.00 7,379.00 7,435.00
   Current Liabilities 4,519.00 5,039.00 3,910.00 6,242.00 8,189.00 12,161.00 10,086.00 9,263.00 9,402.00 8,053.00 6,800.00 10,744.00 11,295.00 7,278.00 5,800.00 6,551.00 7,344.00 7,408.00
      Payables and Expenses 4,005.00 4,345.00 2,946.00 5,240.00 6,862.00 10,733.00 9,863.00 9,044.00 9,185.00 7,840.00 6,603.00 10,563.00 11,130.00 7,128.00 5,652.00 6,551.00 7,344.00 7,408.00
            Account Payables 269.00 119.00 400.00 278.00 583.00 1,218.00 470.00 976.00 464.00 689.00 782.00 1,114.00 828.00 633.00 1,057.00 603.00 2,599.00 2,622.00
            Current Accrued Liabilities 3,736.00 4,226.00 2,546.00 4,962.00 6,279.00 9,515.00 9,393.00 8,068.00 8,721.00 7,151.00 5,821.00 9,449.00 10,302.00 6,495.00 4,595.00 5,948.00 4,745.00 4,786.00
      Short-Term Debt 90.00 58.00 116.00 154.00 230.00 226.00 223.00 219.00 217.00 213.00 197.00 181.00 165.00 150.00 148.00 0 0 0
      Other Current Liabilities 424.00 636.00 848.00 848.00 1,097.00 1,202.00 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 108.00 0.00 0.00 212.00 0.00 253.00 116.00 173.00 211.00 266.00 321.00 374.00 428.00 478.00 517.00 32.00 35.00 27.00
      Long-Term Debt 108.00 0 0 0 0 58.00 116.00 173.00 211.00 266.00 321.00 374.00 428.00 478.00 517.00 0 0 0
      Other Non-Current Liabilities 0.00 0 0 0 0 195.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0 0 0
Equity 63,034.00 45,964.00 54,073.00 61,654.00 70,818.00 80,017.00 89,157.00 106,184.00 123,581.00 139,257.00 155,197.00 169,317.00 131,943.00 147,851.00 163,036.00 175,602.00 186,486.00 112,662.00
   Shareholders Equity 63,034.00 45,964.00 54,073.00 61,654.00 70,818.00 80,017.00 89,157.00 106,184.00 123,581.00 139,257.00 155,197.00 169,317.00 131,943.00 147,851.00 163,036.00 175,602.00 186,486.00 -69,365.00
      Capital Stock 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 3.00 3.00 3.00 3.00 3.00 536.00
      Share Premium 359,152.00 358,105.00 356,481.00 354,602.00 352,621.00 350,594.00 343,498.00 341,410.00 338,788.00 336,154.00 333,253.00 330,208.00 276,852.00 274,327.00 271,680.00 269,626.00 268,095.00 0
      Retained Earnings -296,146.00 -312,162.00 -302,459.00 -293,020.00 -281,976.00 -270,510.00 -254,274.00 -235,245.00 -215,003.00 -196,629.00 -177,999.00 -160,681.00 -144,478.00 -126,108.00 -108,525.00 -94,027.00 -81,612.00 -71,416.00
      Treasury Shares 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
      Accumulated Other Comprehensive Income 24.00 17.00 47.00 68.00 169.00 -71.00 -71.00 15.00 -208.00 -272.00 -61.00 -214.00 -434.00 -371.00 -122.00 0 0 0
   Minority Interest 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Investments 27,197.00 37,530.00 40,529.00 51,608.00 50,650.00 73,111.00 75,478.00 85,874.00 102,430.00 105,279.00 111,287.00 112,096.00 81,153.00 87,042.00 80,799.00 1,605.00 2,028.00 2,760.00
Debt 198.00 58.00 116.00 154.00 230.00 284.00 339.00 392.00 428.00 479.00 518.00 555.00 593.00 628.00 665.00 0 0 0
Common Shares Outstanding 41,935.84 41,707.15 41,612.04 41,510.16 41,487.59 41,487.59 37,811.97 37,829.57 37,800.86 37,790.86 37,746.21 37,837.37 32,091.40 32,130.97 32,130.97 32,129.97 32,129.97 5,700.00
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 2021-09-30 2021-06-30
Revenues 636.00 424.00 212.00 -261.00 598.00 299.00 0 0 0 0 0 0 0 0 0 0 0
Operating Expenses 27,288.00 20,151.00 9,882.00 -45,262.00 49,486.00 37,121.00 19,787.00 -35,719.00 57,820.00 38,457.00 18,374.00 -29,160.00 50,793.00 31,933.00 14,318.00 33,335.00 23,354.00
   Selling, General and Administrative Expenses 11,346.00 8,352.00 4,157.00 -13,829.00 15,364.00 11,239.00 6,851.00 -16,109.00 20,200.00 14,125.00 7,172.00 -14,519.00 20,897.00 14,147.00 6,670.00 12,520.00 7,499.00
   Research and Development Expenses 47,826.00 35,397.00 17,175.00 51,981.00 34,122.00 25,882.00 12,936.00 -18,710.00 37,620.00 24,332.00 11,202.00 -17,741.00 32,996.00 20,886.00 7,648.00 20,815.00 15,855.00
   Other Operating Expenses -31,884.00 -23,598.00 -11,450.00 -83,414.00 0.00 0.00 0.00 -900.00 0.00 0.00 0.00 3,100.00 -3,100.00 -3,100.00 0.00 0.00 0.00
Operating Income -26,652.00 -19,727.00 -9,670.00 45,001.00 -48,888.00 -36,822.00 -19,787.00 35,719.00 -57,820.00 -38,457.00 -18,374.00 29,160.00 -50,793.00 -31,933.00 -14,318.00 -33,335.00 -23,354.00
Net Non-Operating Income 24,400.00 1,459.00 818.00 -3,178.00 3,966.00 2,729.00 1,443.00 -3,425.00 4,926.00 3,289.00 1,619.00 312.00 1,203.00 580.00 210.00 19.00 -98.00
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 10.00 10.00
EBT -2,252.00 -18,268.00 -8,852.00 41,823.00 -44,922.00 -34,093.00 -18,344.00 32,294.00 -52,894.00 -35,168.00 -16,755.00 29,472.00 -49,590.00 -31,353.00 -14,108.00 -33,316.00 -23,452.00
Income Tax 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 0.00 0.00
Equity Method Investments Income 26.00 26.00 13.00 -73.00 -9.00 28.00 15.00 4,330.00 -2,828.00 -1,580.00 37.00 1,804.00 -1,761.00 -28.00 10.00 18.00 50.00
Net Income -3,126.00 -19,142.00 -9,439.00 43,250.00 -46,731.00 -35,265.00 -19,029.00 33,024.00 -54,322.00 -35,948.00 -17,318.00 30,376.00 -50,451.00 -32,081.00 -14,498.00 -34,598.00 -24,402.00
EBIT -2,252.00 -18,268.00 -8,852.00 41,823.00 -44,922.00 -34,093.00 -18,344.00 32,294.00 -52,894.00 -35,168.00 -16,755.00 29,472.00 -49,590.00 -31,353.00 -14,108.00 -33,306.00 -23,442.00
Deprecation and Amortization 89.00 54.00 28.00 -74.00 101.00 69.00 35.00 -80.00 114.00 77.00 39.00 -89.00 128.00 86.00 42.00 74.00 48.00
EBITDA -2,163.00 -18,214.00 -8,824.00 41,749.00 -44,821.00 -34,024.00 -18,309.00 32,214.00 -52,780.00 -35,091.00 -16,716.00 29,383.00 -49,462.00 -31,267.00 -14,066.00 -33,232.00 -23,394.00
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 0 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 0 0
Average Shares Outstanding Basic 44,892.49 44,808.06 44,774.60 47,784.67 43,170.18 42,450.84 40,773.61 40,851.32 40,382.62 40,306.71 40,248.89 66,268.61 30,562.72 30,453.91 0 0 0
Average Shares Outstanding Diluted 44,892.49 44,808.06 44,774.60 47,784.67 43,170.18 42,450.84 40,773.61 40,851.32 40,382.62 40,306.71 40,248.89 66,268.61 30,562.72 30,453.91 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 2021-09-30 2021-06-30
Operating Cash Flow -25,134.00 -18,584.00 -10,205.00 31,470.00 -39,420.00 -25,875.00 -15,457.00 39,269.00 -48,620.00 -32,149.00 -18,765.00 25,752.00 -42,020.00 -27,285.00 -13,731.00 -35,647.00 -24,775.00
   Operating Net Income -9,378.00 -57,426.00 -28,317.00 -72,300.00 -46,731.00 -35,265.00 -19,029.00 33,024.00 -54,322.00 -35,948.00 -17,318.00 30,376.00 -50,451.00 -32,081.00 -14,498.00 -34,598.00 -24,402.00
   Deprecation and Amortization 89.00 54.00 28.00 -74.00 101.00 69.00 35.00 -80.00 114.00 77.00 39.00 -89.00 128.00 86.00 42.00 74.00 48.00
   Deferred Income Tax 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
   Share Based Compensation 4,540.00 3,493.00 1,879.00 -4,128.00 6,030.00 4,003.00 2,088.00 -6,233.00 8,371.00 5,737.00 3,045.00 -4,461.00 7,205.00 4,701.00 2,054.00 2,116.00 1,061.00
   Change in Working Capital 1,031.00 670.00 -2,038.00 -3,607.00 -3,161.00 833.00 229.00 1,393.00 -979.00 -4,256.00 -3,519.00 -1,373.00 8,106.00 1,788.00 -167.00 4,251.00 2,066.00
   Other Operating Activities -21,416.00 34,625.00 18,243.00 111,579.00 4,341.00 4,485.00 1,220.00 11,165.00 -1,804.00 2,241.00 -1,012.00 1,299.00 -7,008.00 -1,779.00 -1,162.00 -7,490.00 -3,548.00
Investing Cash Flow 43,343.00 14,116.00 11,081.00 -24,697.00 35,065.00 12,860.00 10,264.00 7,765.00 10,749.00 7,679.00 1,465.00 136,828.00 -81,524.00 -87,296.00 -80,178.00 -2,196.00 -2,066.00
   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 0.00 0.00
   Net Purchase/Sale of PPE 0 0 0 0 0 0 0 12.00 0 0 0 -86.00 54.00 50.00 36.00 196.00 66.00
   Net Purchase/Sale of Investments Net 46,087.00 35,384.00 23,919.00 -73,551.00 100,283.00 74,140.00 32,486.00 -149,271.00 203,599.00 131,635.00 60,785.00 -112,592.00 192,170.00 131,096.00 80,142.00 0 0
   Net Purchase/Sale of Business 23,000.00 1,500.00 1,000.00 -3,050.00 2,000.00 1,500.00 1,550.00 -50.00 1,500.00 1,550.00 1,550.00 -150.00 300.00 150.00 0 2,000.00 2,000.00
   Other Investing Activities -25,744.00 -22,768.00 -13,838.00 51,904.00 -67,218.00 -62,780.00 -23,772.00 157,074.00 -194,350.00 -125,506.00 -60,870.00 249,656.00 -274,048.00 -218,592.00 -160,356.00 -4,392.00 -4,132.00
Financing Cash Flow 10.00 10.00 0 -5,174.00 5,181.00 5,192.00 0 140.00 71.00 71.00 -139.00 51,157.00 -79.00 0 0 84,588.00 -663.00
   Net Issuance/Repayment of Debt 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
   Net Issuance/Repurchase of Equity 0 0 0 -5,431.00 5,449.00 5,449.00 0 -136.00 209.00 209.00 0 217.00 21.00 0 0 86,200.00 0
   Dividends Paid 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
   Other Financing Activities 10.00 10.00 0 257.00 -268.00 -257.00 0 276.00 -138.00 -138.00 -139.00 50,940.00 -100.00 0 0 -1,612.00 -663.00
Net Change in Cash 18,219.00 -4,458.00 876.00 1,599.00 826.00 -7,823.00 -5,193.00 47,174.00 -37,800.00 -24,399.00 -17,439.00 213,737.00 -123,623.00 -114,581.00 -93,909.00 46,745.00 -27,504.00
   Cash at Beginning of Period 13,903.00 13,903.00 13,903.00 12,304.00 24,494.00 24,494.00 24,494.00 -22,680.00 56,958.00 56,958.00 56,958.00 -156,779.00 175,334.00 175,334.00 175,334.00 140,233.00 140,233.00
   Cash at End of Period 32,122.00 9,445.00 14,779.00 13,903.00 25,320.00 16,671.00 19,301.00 24,494.00 19,158.00 32,559.00 39,519.00 56,958.00 51,711.00 60,753.00 81,425.00 186,978.00 112,729.00
Free Cash Flow 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0