This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Ocean Power Technologies Announces Results For The Fiscal Third Quarter Ended January 31, 2012

Consolidated Statements of Cash Flows For the Nine Months Ended January 31, 2012 and 2011 (Unaudited)

 

January 31,

2012

  January 31,

2011

Cash flows from operating activities:  
Net loss $ (11,076,911) (15,143,395)
Adjustments to reconcile net loss to net cash used in operating activities:
Foreign exchange loss 93,080 205,824
Depreciation and amortization 294,820 270,209
Loss on disposals of property, plant and equipment 9,715 933
Treasury note (discount) premium amortization (31,633) 57,752
Compensation expense related to stock option grants and restricted stock 935,370 953,738
Changes in operating assets and liabilities:
Accounts receivable 334,946 776,316
Unbilled receivables 316,084 (192,577)
Other current assets 20,340 325,440
Other noncurrent assets 54,183 756,172
Accounts payable (761,241) (715,927)
Accrued expenses (860,101) (787,537)
Unearned revenues 928,016 (351,625)
Other noncurrent liabilities (142,586)
 
Net cash used in operating activities (9,743,332) (13,987,263)
 
Cash flows from investing activities:
Purchases of marketable securities (12,849,207) (7,528,436)
Maturities of marketable securities 26,727,857 27,011,971
Restricted cash 53,936 (250,000)
Purchases of equipment (210,316) (67,356)
Payments of patent costs (138,889) (190,547)
 
Net cash provided by investing activities 13,583,381 18,975,632
 
Cash flows from financing activities:
Proceeds from long-term debt 250,000
Repayment of debt (114,378) (6,008)
Acquisition of treasury stock (55,783) (30,859)
 
Net cash (used in) provided by financing activities (170,161) 213,133
 
Effect of exchange rate changes on cash and cash equivalents (216,273) 64,525
 
Net increase in cash and cash equivalents 3,453,615 5,266,027
 
Cash and cash equivalents, beginning of period 4,376,136 4,236,597
 
Cash and cash equivalents, end of period $ 7,829,751 9,502,624




8 of 9

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,880.36 -31.75 -0.19%
S&P 500 1,970.07 +0.12 0.01%
NASDAQ 4,462.9020 +20.2040 0.45%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs