TaoWeave, Inc. (TWAV)
TaoWeave, Inc. functions as a digital asset treasury enterprise with a primary emphasis on Bittensor (TAO), a decentralized and open-source protocol. This innovative protocol establishes a marketplace for machine intelligence, enabling the training, sharing, and monetization of AI models in an unrestricted environment. The company supplies TAO, the native token of the Bittensor network, which facilitates activities like staking, governance, and remuneration for AI model contributors. Formerly known as Oblong, Inc., the company officially rebranded to TaoWeave, Inc. in December 2025. It was founded in 1996 and maintains its corporate headquarters in Denver, Colorado.
Sector: Services-Computer Programming, Data Processing, Etc.
Industry: Asset Management
TaoWeave, Inc.
NASDAQ:TWAVFinancial Services · Asset Management
-2.78%$1.40
AH Close$1.40+0.00%vs close
AH Close$1.40+0.00%vs close
Mkt Cap$5.43M
Float3.53M
O/S3.88M
Inst Own5.1%
SI1.1%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$2.44M
Net Income-$6.36M
Total Assets$8.22M
Free Cash Flow-$3.02M
Debt & Equity
Equity 100%
Total Debt$0
Total Equity$7.03M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in TWAV's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$8.22M
Liabilities$1.19M
Accounts Receivable$138K
Accounts Payable$112K
Inventory$0
PP&E (Net)$0
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 | 2005-12-31 |
| Revenue | $2.44M | $2.38M | $3.81M | $5.48M | $7.74M | $15.33M | $12.83M | $12.56M | $14.8M | $19.22M | $25.54M | $32.16M | $33.45M | $29.07M | $27.81M | $27.55M | $26.54M | $24.54M | $22.79M | $19.51M | $17.73M |
| YoY Growth | 2.5% | -37.6% | -30.4% | -29.2% | -49.5% | 19.5% | 2.2% | -15.1% | -23.0% | -24.8% | -20.6% | -3.9% | 15.1% | 4.5% | 0.9% | 3.8% | 8.2% | 7.7% | 16.8% | 10.0% | - |
| Cost of Revenue | $1.42M | $2.05M | $2.9M | $3.93M | $5.02M | $10.42M | $8.75M | $8.35M | $10.23M | $13.64M | $17.08M | $21.03M | $22.36M | $19.07M | $18.17M | $20.69M | $20.37M | $14.34M | $15.21M | $13.58M | $14.98M |
| Gross Profit | $1.01M | $331K | $911K | $1.55M | $2.72M | $4.91M | $4.08M | $4.2M | $4.57M | $5.58M | $8.46M | $11.13M | $11.09M | $9.99M | $9.63M | $6.86M | $6.17M | $10.2M | $7.58M | $5.93M | $2.75M |
| Gross Margin | 41.6% | 13.9% | 23.9% | 28.2% | 35.1% | 32.0% | 31.8% | 33.5% | 30.9% | 29.0% | 33.1% | 34.6% | 33.1% | 34.4% | 34.6% | 24.9% | 23.2% | 41.6% | 33.3% | 30.4% | 15.5% |
| Research and Development | $10K | $155K | $20K | $1.7M | $2.91M | $3.71M | $2.02M | $921K | $1.15M | $1.12M | $1.35M | $1.02M | $662K | $0 | $0 | $0 | $0 | $1.06M | $810K | $816K | $1.24M |
| Selling, General, and Administrative | $3.97M | $4.38M | $5.18M | $6.71M | $8.56M | $10.12M | $6.84M | $4.93M | $4.08M | $5.87M | $7.46M | $8.95M | $9.73M | $9.73M | $9.16M | $9.47M | $7.66M | $12.34M | $11.39M | $13.62M | $18.15M |
| Other | $0 | $0 | $207K | $15.13M | $3.04M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$2.5M | $0 | $0 | $0 | $0 |
| Total Operating Expenses | $3.98M | $4.53M | $5.41M | $23.53M | $14.51M | $13.83M | $8.87M | $5.85M | $5.23M | $6.99M | $8.81M | $9.97M | $10.39M | $9.73M | $9.16M | $9.47M | $5.16M | $13.41M | $12.2M | $14.44M | $19.39M |
| Operating Income (EBIT) | -$2.96M | -$4.2M | -$4.5M | -$21.99M | -$11.79M | -$8.91M | -$4.79M | -$1.65M | -$654K | -$1.41M | -$351K | $1.16M | $696K | $261K | $470K | -$2.62M | $1.01M | -$3.21M | -$4.62M | -$8.51M | -$16.64M |
| Operating Margin | -121.5% | -176.7% | -118.0% | -401.5% | -152.4% | -58.1% | -37.3% | -13.1% | -4.4% | -7.3% | -1.4% | 3.6% | 2.1% | 0.9% | 1.7% | -9.5% | 3.8% | -13.1% | -20.3% | -43.6% | -93.8% |
| Interest Expense | $0 | $0 | $28K | $19K | $22K | $352K | $187K | $891K | $1.12M | $1.53M | $1.48M | $1.42M | $2.9M | $574K | $129K | $160K | $0 | $4.98M | $6.57M | $4.36M | $3K |
| Interest Income | $128K | $169K | $166K | $59K | $227K | $0 | $0 | $0 | $0 | $0 | $0 | $5K | $1K | $0 | $0 | $0 | $543K | $18K | $59K | $83K | $100K |
| Other Income (Expense) | -$3.39M | $169K | $138K | $40K | $2.65M | $1.6M | -$2.97M | -$5.51M | $6.21M | -$2.2M | -$1.62M | -$3.77M | -$4.94M | -$1.43M | -$129K | -$160K | -$1.56M | -$4.11M | -$850K | -$2.28M | $205K |
| Income Before Tax (EBT) | -$6.35M | -$4.03M | -$4.36M | -$21.95M | -$9.14M | -$7.32M | -$7.76M | -$7.16M | $5.55M | -$3.61M | -$1.97M | -$2.62M | -$4.24M | -$1.17M | $341K | -$2.77M | -$547K | -$7.32M | -$5.47M | -$10.79M | -$16.43M |
| Income Tax Expense | $2K | $10K | $27K | -$7K | -$90K | $103K | $0 | $13K | -$230K | -$79K | $170K | $139K | -$30K | -$2.22M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Income | -$6.36M | -$4.04M | -$4.38M | -$21.94M | -$9.05M | -$7.42M | -$7.76M | -$7.17M | $5.79M | -$3.53M | -$2.14M | -$2.75M | -$4.21M | $1.05M | $369K | -$3.6M | -$611K | -$4.9M | -$5.47M | -$10.79M | -$16.43M |
| Net Income Margin | -260.8% | -170.0% | -115.1% | -400.7% | -117.0% | -48.4% | -60.5% | -57.1% | 39.1% | -18.4% | -8.4% | -8.6% | -12.6% | 3.6% | 1.3% | -13.1% | -2.3% | -20.0% | -24.0% | -55.3% | -92.7% |
| Supplementary Data | |||||||||||||||||||||
| EPS | -2.76 | -15.71 | -18.81 | -424.80 | -176.23 | -889.78 | -914.80 | -898.44 | 911.88 | -600.00 | -360.00 | -480.00 | -840.00 | 240.00 | 120.00 | -1200.00 | -240.00 | -2640.00 | -2880.00 | -5760.00 | -9840.00 |
| Diluted EPS | -2.76 | -15.71 | -18.81 | -424.80 | -176.23 | -889.78 | -914.80 | -898.44 | 827.46 | -600.00 | -360.00 | -480.00 | -840.00 | 240.00 | 120.00 | -1200.00 | -240.00 | -2640.00 | -2880.00 | -5760.00 | -9840.00 |
| Weighted Average OS | 2.32M | 1.14M | 293,000 | 51,625 | 51,360 | 9,244 | 8,513 | 7,991 | 6,267 | 5,935 | 5,906 | 5,814 | 5,087 | 4,208 | 3,714 | 3,187 | 2,205 | 1,936 | 1,947 | 1,926 | 1,847 |
| EBITDA | -$2.96M | -$4.03M | -$3.98M | -$20.03M | -$6.38M | -$2.83M | -$6.25M | -$5.51M | -$9.79M | -$126K | $1.75M | $1.54M | $1.52M | $1.49M | $1.91M | -$1.54M | $509K | -$1.07M | $2.57M | -$4.49M | -$14.14M |
| EBITDA Margin | -121.5% | -169.6% | -104.6% | -365.7% | -82.5% | -18.4% | -48.7% | -43.9% | -66.2% | -0.7% | 6.8% | 4.8% | 4.5% | 5.1% | 6.9% | -5.6% | 1.9% | -4.4% | 11.3% | -23.0% | -79.7% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 | 2005-12-31 |
| Assets | |||||||||||||||||||||
| Current Assets | |||||||||||||||||||||
| Cash and Cash Equivalents | $2.26M | $4.96M | $5.49M | $3.08M | $8.94M | $5.22M | $4.6M | $2.01M | $3.95M | $1.14M | $1.76M | $1.94M | $2.29M | $2.22M | $1.82M | $2.04M | $587K | $1.23M | $2.31M | $2.15M | $2.02M |
| Short-Term Investments | $0 | $0 | $500K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $2.26M | $4.96M | $5.99M | $3.08M | $8.94M | $5.22M | $4.6M | $2.01M | $3.95M | $1.14M | $1.76M | $1.94M | $2.29M | $2.22M | $1.82M | $2.04M | $587K | $1.23M | $2.31M | $2.15M | $2.02M |
| Accounts Receivable | $138K | $186K | $424K | $731K | $1.17M | $3.17M | $2.54M | $1.37M | $1.22M | $1.64M | $2.7M | $3.27M | $4.1M | $4.13M | $2.52M | $2.71M | $3.32M | $3.09M | $2.55M | $2.78M | $2.31M |
| Inventory | $0 | $0 | $239K | $723K | $1.82M | $920K | $1.82M | $0 | $0 | $0 | $0 | $0 | $0 | $37K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $5.45M | $12K | $98K | $90K | $225K | $28K | $209K | $0 | $0 | $0 | $0 | $0 | $0 | $363K | $0 | $99K | $0 | $0 | $0 | $0 | $0 |
| Total Current Assets | $8.21M | $5.27M | $6.9M | $4.87M | $12.75M | $9.99M | $9.93M | $3.92M | $5.88M | $3.75M | $5.01M | $6.12M | $6.72M | $7.11M | $4.67M | $5.13M | $4.2M | $4.61M | $5.21M | $5.23M | $4.7M |
| Long-Term Assets | |||||||||||||||||||||
| Property, Plant & Equipment Net | $0 | $0 | $17K | $145K | $818K | $1.48M | $4.43M | $728K | $1.16M | $2.2M | $2.99M | $3.25M | $2.87M | $4.26M | $4.74M | $3.15M | $2.68M | $2.53M | $2.69M | $2.76M | $4.12M |
| Goodwill | $0 | $0 | $0 | $0 | $7.37M | $7.37M | $7.91M | $2.79M | $7.75M | $9.22M | $9.82M | $0 | $9.82M | $9.9M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $604K | $7.56M | $10.14M | $12.57M | $499K | $626K | $1.31M | $2.18M | $12.87M | $6M | $7.26M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $61K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $104K | $374K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $4K | $6K | $12K | $40K | $109K | $106K | $71K | $15K | $8K | $10K | $30K | $376K | $479K | $791K | $59K | $83K | $31K | $33K | $664K | $403K | $216K |
| Total Long-Term Assets | $4K | $6K | $29K | $789K | $15.86M | $19.15M | $24.98M | $4.04M | $9.54M | $12.85M | $15.39M | $16.49M | $19.17M | $22.2M | $4.8M | $3.23M | $2.71M | $2.57M | $3.36M | $3.17M | $4.33M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $8.22M | $5.28M | $6.92M | $5.66M | $28.61M | $29.14M | $34.91M | $7.96M | $15.42M | $16.6M | $20.41M | $22.62M | $25.89M | $29.32M | $9.46M | $8.36M | $6.91M | $7.18M | $8.56M | $8.39M | $9.04M |
| Liabilities | |||||||||||||||||||||
| Current Liabilities | |||||||||||||||||||||
| Accounts Payable | $112K | $105K | $211K | $184K | $259K | $313K | $647K | $222K | $337K | $75K | $385K | $1.22M | $1.89M | $2.38M | $1.38M | $2.33M | $3.23M | $2.37M | $1.57M | $1.96M | $1.59M |
| Short-Term Debt | $0 | $0 | $0 | $0 | $0 | $2.84M | $3.96M | $0 | $1.19M | $10.66M | $400K | $441K | $1.17M | $1.64M | $927K | $750K | $0 | $161K | $125K | $4.33M | $0 |
| Current Income Tax Payable | $0 | $201K | $22K | $59K | $92K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $13K | $113K | $250K | $564K | $928K | $1.22M | $1.9M | $43K | $393K | $25K | $105K | $76K | $197K | $155K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $715K | $646K | $552K | $764K | $620K | $790K | $942K | $678K | $740K | $1.45M | $1.61M | $1.71M | $1.94M | $1.77M | $741K | $1.33M | $836K | $1.27M | $7.8M | $6.18M | $2.79M |
| Total Current Liabilities | $1.19M | $1.27M | $1.4M | $1.91M | $2.49M | $5.58M | $8.26M | $1.13M | $2.79M | $12.34M | $2.75M | $3.72M | $5.94M | $6.45M | $4.19M | $5.66M | $5.57M | $8.84M | $14.3M | $17.1M | $8.23M |
| Long-Term Liabilities | |||||||||||||||||||||
| Long-Term Debt | $0 | $0 | $0 | $0 | $0 | $403K | $2.84M | $0 | $369K | $0 | $10.59M | $10.79M | $10.23M | $9.63M | $0 | $0 | $0 | $1.48M | $6.87M | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $26K | $114K | $381K | $506K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $334K | $683K | $142K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $3K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $195K | $0 | $0 | $0 | $324K |
| Total Long-Term Liabilities | $0 | $0 | $26K | $131K | $617K | $1.51M | $4.87M | $0 | $369K | $334K | $11.27M | $10.93M | $10.28M | $9.86M | $334K | $0 | $195K | $1.55M | $7.11M | $0 | $324K |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $1.19M | $1.27M | $1.42M | $2.04M | $3.11M | $7.09M | $13.12M | $1.13M | $3.16M | $12.68M | $14.03M | $14.65M | $16.22M | $16.31M | $4.53M | $5.66M | $5.76M | $10.39M | $21.4M | $17.1M | $8.55M |
| Stockholders' Equity | |||||||||||||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $100K | $100K | $167K | $167K | $10.17M | $10.7M | $17.95M | $33.81M | $28.42M | $4.33M | $2.89M | $2.89M |
| Common Stock | $0 | $0 | $2K | $0 | $3K | $1K | $1K | $5K | $5K | $4K | $4K | $4K | $4K | $3K | $3K | $9K | $7K | $5K | $5K | $5K | $5K |
| Retained Earnings | -$238.63M | -$232.27M | -$228.23M | -$223.85M | -$201.91M | -$192.85M | -$185.43M | -$177.67M | -$170.5M | -$176.29M | -$172.76M | -$170.61M | -$167.86M | -$163.65M | -$164.7M | -$165.07M | -$162.41M | -$185.41M | -$178.09M | -$172.62M | -$161.83M |
| Comprehensive Income & Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$556K |
| Other Stockholders' Equity | $245.66M | $236.28M | $233.73M | $227.46M | $227.4M | $214.91M | $207.22M | $184.5M | $182.76M | $180.21M | $179.14M | $178.58M | $177.52M | $176.65M | $169.64M | $167.76M | $163.55M | $182.19M | $165.25M | $163.91M | $162.31M |
| Total Equity | $7.03M | $4M | $5.5M | $3.62M | $25.5M | $22.06M | $21.79M | $6.83M | $12.26M | $3.93M | $6.38M | $7.97M | $9.67M | $13M | $4.94M | $2.71M | $1.15M | -$3.21M | -$12.84M | -$8.7M | $483K |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $8.22M | $5.28M | $6.92M | $5.66M | $28.61M | $29.14M | $34.91M | $7.96M | $15.42M | $16.6M | $20.41M | $22.62M | $25.89M | $29.32M | $9.46M | $8.36M | $6.91M | $7.18M | $8.56M | $8.39M | $9.04M |
| Supplementary Data | |||||||||||||||||||||
| Total Debt | $0 | $0 | $17K | $236K | $728K | $3.85M | $8.82M | $0 | $1.56M | $10.66M | $10.99M | $11.23M | $11.45M | $11.5M | $1.26M | $750K | $0 | $1.72M | $7.23M | $4.33M | $0 |
| Net Debt | -$2.26M | -$4.96M | -$5.47M | -$2.85M | -$8.21M | -$1.37M | $4.22M | -$2.01M | -$2.38M | $9.52M | $9.22M | $9.29M | $9.15M | $9.28M | -$557K | -$1.28M | -$587K | $488K | $4.92M | $2.17M | -$2.02M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 | 2005-12-31 |
| Operating Activities | |||||||||||||||||||||
| Net Income | -$6.36M | -$4.04M | -$4.38M | -$21.94M | -$9.05M | -$7.42M | -$7.76M | -$7.17M | $5.79M | -$3.53M | -$2.14M | -$2.75M | -$4.21M | $1.05M | $341K | -$3.71M | -$611K | -$4.9M | -$5.47M | -$10.79M | -$16.43M |
| Depreciation & Amortization | $0 | $0 | $345K | $1.9M | $2.74M | $4.14M | $1.32M | $755K | $1.62M | $1.96M | $2.23M | $2.73M | $2.86M | $2.08M | $1.44M | $1.08M | $1.06M | $1.26M | $1.47M | $1.95M | $2.29M |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$230K | -$79K | $170K | $142K | $0 | -$2.22M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $169K | $62K | $504K | $146K | $987K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | |||||||||||||||||||||
| Accounts Receivable | $66K | $236K | $43K | $316K | $2M | -$792K | $780K | -$160K | $421K | $1.04M | $539K | $935K | -$179K | -$410K | $84K | $67K | -$491K | -$801K | $202K | -$577K | -$299K |
| Inventory | $0 | $239K | $484K | $615K | -$390K | $820K | $19K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $7K | -$107K | $27K | -$75K | -$54K | -$335K | $129K | -$115K | $262K | -$310K | -$835K | -$726K | -$499K | $31K | -$951K | -$874K | $865K | $793K | -$382K | $371K | -$1.4M |
| Other Working Capital | -$225K | $188K | -$347K | -$501K | -$2.4M | -$1.49M | -$269K | -$38K | $307K | -$797K | $196K | -$1.19M | $697K | -$701K | -$684K | -$147K | -$3.71M | $1.57M | $1.7M | $1.8M | $1.26M |
| Total Working Capital Change | -$152K | $556K | $207K | $355K | -$850K | -$1.8M | $659K | -$313K | $990K | -$64K | -$100K | -$984K | $19K | -$1.08M | -$1.55M | -$954K | -$3.33M | $1.56M | $1.52M | $1.59M | -$432K |
| Other Non-Cash Items | $3.32M | $19K | $335K | $13.6M | -$1.55M | -$1.49M | $2.53M | $5.57M | -$6.56M | $1.9M | $1.07M | $2.55M | $3.63M | $986K | $526K | $2.14M | $3.01M | $806K | $609K | $2.56M | $904K |
| Net Cash from Operating | -$3.02M | -$3.41M | -$2.99M | -$5.93M | -$7.73M | -$6.57M | -$3.25M | -$1.16M | $1.61M | $183K | $1.24M | $1.69M | $2.3M | $821K | $752K | -$1.44M | $124K | -$1.26M | -$1.88M | -$4.69M | -$13.67M |
| Investing Activities | |||||||||||||||||||||
| Capital Expenditures | -$8.74M | $0 | $0 | -$11K | -$50K | -$38K | -$45K | -$335K | -$133K | -$382K | -$1.25M | -$2.18M | -$856K | -$740K | -$940K | -$1.62M | -$1.21M | -$1.18M | -$1.05M | -$761K | -$1.31M |
| Acquisitions | $0 | $0 | $0 | $30K | $1K | $7K | $2.19M | $0 | $0 | $0 | $3K | $4K | -$44K | -$7.55M | $12K | $61K | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $3.09M |
| Net Cash from Investing | -$8.74M | $0 | $0 | $19K | -$49K | -$31K | $2.15M | -$335K | -$133K | -$382K | -$1.24M | -$2.17M | -$900K | -$8.29M | -$928K | -$1.56M | -$1.21M | -$1.18M | -$1.05M | -$761K | $1.78M |
| Financing Activities | |||||||||||||||||||||
| Debt Repaid | - | - | - | - | - | $83K | - | $1.83M | -$1.42M | $400K | $43K | $216K | $1.03M | -$7.86M | $41K | $307K | $1.37M | $125K | -$3.09M | -$5.58M | $35K |
| Common Stock Issuance | $9.04M | $2.38M | $5.36M | $0 | $11.5M | $7.37M | $3.75M | $1.53M | $2.23M | -$12K | $16K | $416K | $0 | $12K | $0 | $4.01M | $1.82M | $1.48M | $0 | $0 | $9.45M |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | -$51K | -$144K | -$2.33M | -$13K | -$140K | -$71K | -$289K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | $0 | $0 | $534K | $0 | $0 | -$16K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $750K | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Financing | $9.04M | $2.38M | $5.9M | $0 | $11.5M | $7.27M | $3.7M | -$449K | $1.33M | -$425K | -$167K | $129K | -$1.32M | $7.87M | -$41K | $4.45M | $449K | $1.36M | $3.09M | $5.58M | $9.41M |
| Forex Effect | $1K | $0 | $0 | $0 | $0 | -$61K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $4.5M |
| Net Change in Cash | -$2.71M | -$1.02M | $2.9M | -$5.92M | $3.72M | $614K | $2.6M | -$1.94M | $2.81M | -$624K | -$174K | -$356K | $76K | $400K | -$217K | $1.45M | -$640K | -$1.08M | $159K | $130K | $2.02M |
| Supplementary Data | |||||||||||||||||||||
| Operating Cash Flow | -$3.02M | -$3.41M | -$2.99M | -$5.93M | -$7.73M | -$6.57M | -$3.25M | -$1.16M | $1.61M | $183K | $1.24M | $1.69M | $2.3M | $821K | $752K | -$1.44M | $124K | -$1.26M | -$1.88M | -$4.69M | -$13.67M |
| Capital Expenditure | $0 | $0 | $0 | -$11K | -$50K | -$38K | -$45K | -$335K | -$133K | -$382K | -$1.25M | -$2.18M | -$856K | -$740K | -$940K | -$1.62M | -$1.21M | -$1.18M | -$1.05M | -$761K | -$1.31M |
| Free Cash Flow | -$3.02M | -$3.41M | -$2.99M | -$5.95M | -$7.78M | -$6.6M | -$3.3M | -$1.49M | $1.48M | -$199K | -$10K | -$489K | $1.44M | $81K | -$188K | -$3.06M | -$1.09M | -$2.44M | -$2.93M | -$5.46M | -$14.98M |
| Cash at Beginning | $4.96M | $5.99M | $3.08M | $9M | $5.28M | $4.6M | $2.01M | $3.95M | $1.14M | $1.76M | $1.94M | $2.29M | $2.22M | $1.82M | $2.04M | $587K | $1.23M | $2.31M | $2.15M | $2.02M | $0 |
| Cash at End | $2.26M | $4.96M | $5.99M | $3.08M | $9M | $5.22M | $4.6M | $2.01M | $3.95M | $1.14M | $1.76M | $1.94M | $2.29M | $2.22M | $1.82M | $2.04M | $587K | $1.23M | $2.31M | $2.15M | $2.02M |