Stablecoin Development Corp (SDEV)
Stablecoin Development Corporation engages in the accumulation and holding of digital assets for participation in blockchain-based networks. The company focuses on the accumulation, holding, and deployment of SKY, a protocol token of the decentralized Sky Protocol. Its services intend to support protocol-level services, including staking, governance participation, validation, and related activities. The company was formerly known as NovaBay Pharmaceuticals, Inc. and changed its name to Stablecoin Development Corporation in April 2026. Stablecoin Development Corporation was incorporated in 2000 and is headquartered in Emeryville, California.
Sector: Finance Services
Industry: Asset Management - Cryptocurrency
Stablecoin Development Corp.
NYSE:SDEVHealthcare · Medical - Pharmaceuticals
-7.00%$0.9300
AH Close$0.9310+0.11%vs close
AH Close$0.9310+0.11%vs close
Mkt Cap$47.07M
Float22.18M
O/S50.62M
Inst Own2.9%
SI5.7%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$0
Net Income-$641.98M
Total Assets$10.65M
Free Cash Flow-$8.43M
Debt & Equity
Total Debt$776K
Total Equity-$22.83M
Preferred Stock$356K
Shares Outstanding
Short Interest
Split History1 split · 1 reverse
2-year cumulative
1:5
Nasdaq bars a compliance period at 1:250
- 1:5Reverse splitFeb 23, 20265 shares → 1
Balance Sheet Details
Assets$10.65M
Liabilities$33.47M
Accounts Receivable$0
Accounts Payable$257K
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | 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 |
| Revenue | $0 | $0 | $10.46M | $14.4M | $10.2M | $9.93M | $6.6M | $12.51M | $18.23M | $11.9M | $4.38M | $1.05M | $3.48M | $6.95M | $11.02M | $9.75M | $15.68M | $6.72M | $5.91M | $1.53M |
| YoY Growth | - | - | -27.4% | 41.2% | 2.7% | 50.5% | -47.2% | -31.4% | 53.2% | 171.6% | 315.7% | -69.7% | -49.9% | -37.0% | 13.0% | -37.8% | 133.3% | 13.7% | 285.7% | - |
| Cost of Revenue | $140K | $341K | $4.37M | $6.62M | $3.69M | $3.97M | $1.74M | $1.5M | $2.78M | $2.46M | $1.26M | $486K | $476K | $341K | $425K | $427K | $0 | $0 | $0 | $0 |
| Gross Profit | -$140K | -$341K | $6.08M | $7.78M | $6.51M | $5.96M | $4.86M | $11.01M | $15.45M | $9.43M | $3.12M | $568K | $3M | $6.61M | $10.59M | $9.33M | $0 | $0 | $0 | $0 |
| Gross Margin | - | - | 58.2% | 54.0% | 63.8% | 60.0% | 73.7% | 88.0% | 84.7% | 79.3% | 71.2% | 53.9% | 86.3% | 95.1% | 96.1% | 95.6% | - | - | - | - |
| Research and Development | $0 | $42K | $34K | $174K | $44K | $285K | $184K | $259K | $410K | $1.6M | $6.04M | $9.51M | $12.46M | $9.28M | $9.91M | $8.62M | $7.34M | $9.6M | $7.42M | $4.09M |
| Selling, General, and Administrative | $7.45M | $7.04M | $10.15M | $15.29M | $15.33M | $12.1M | $13.92M | $18.62M | $22.35M | $18.97M | $18.09M | $7.93M | $6.03M | $5.64M | $5M | $5.23M | $5.23M | $5.33M | $4.18M | $2.9M |
| Other | $0 | -$42K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Operating Expenses | $7.45M | $7.04M | $10.19M | $15.46M | $15.38M | $12.39M | $14.1M | $18.88M | $22.76M | $20.58M | $24.13M | $17.45M | $18.49M | $14.91M | $14.91M | $13.84M | $12.57M | $14.93M | $11.61M | $6.99M |
| Operating Income (EBIT) | -$7.58M | -$7.38M | -$4.1M | -$7.68M | -$8.86M | -$6.42M | -$9.24M | -$7.87M | -$7.31M | -$11.14M | -$21.01M | -$16.88M | -$15.49M | -$8.31M | -$4.32M | -$4.52M | $2.74M | -$8.51M | -$5.88M | -$5.53M |
| Operating Margin | - | - | -39.2% | -53.3% | -86.8% | -64.7% | -140.0% | -62.9% | -40.1% | -93.7% | -479.7% | -1601.3% | -445.4% | -119.6% | -39.2% | -46.3% | 17.5% | -126.6% | -99.4% | -360.5% |
| Interest Expense | $277K | $904K | $1.69M | $0 | $0 | $275K | $1.05M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Interest Income | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $397K | $0 | $0 |
| Other Income (Expense) | -$634.28M | -$1.37M | -$2.04M | -$2.93M | $3.04M | -$4.61M | -$412K | $1.33M | -$89K | -$2M | $2.05M | $1.69M | -$554K | $1.28M | -$762K | $258K | -$36K | $397K | $488K | $240K |
| Income Before Tax (EBT) | -$641.86M | -$8.75M | -$6.14M | -$10.61M | -$5.82M | -$11.03M | -$9.65M | -$6.54M | -$7.4M | -$13.15M | -$18.96M | -$15.19M | -$16.04M | -$7.03M | -$5.08M | -$4.26M | $2.7M | -$8.11M | -$5.39M | -$5.29M |
| Income Tax Expense | $0 | $0 | $0 | $0 | $0 | $5K | $6K | $4K | $3K | $2K | $12K | $2K | $2K | $2K | $2K | $50K | $7K | $2K | $12K | $0 |
| Net Income | -$641.98M | -$7.22M | -$6.14M | -$10.61M | -$5.82M | -$11.04M | -$9.66M | -$6.54M | -$7.4M | -$13.15M | -$18.97M | -$15.19M | -$16.04M | -$7.03M | -$5.08M | -$4.31M | $2.7M | -$8.11M | -$5.4M | -$5.29M |
| Net Income Margin | - | - | -58.8% | -73.6% | -57.1% | -111.1% | -146.4% | -52.3% | -40.6% | -110.5% | -433.1% | -1441.6% | -461.4% | -101.2% | -46.1% | -44.2% | 17.2% | -120.7% | -91.3% | -344.8% |
| Supplementary Data | ||||||||||||||||||||
| EPS | -110.31 | -12.68 | -550.08 | -1767.93 | -920.46 | -1927.66 | -2968.11 | -2369.15 | -2940.00 | -8575.00 | -41772.00 | -47468.00 | -64312.00 | -36750.00 | -30625.00 | -27562.00 | 18375.00 | -58187.00 | -91875.00 | -38291.00 |
| Diluted EPS | -110.31 | -12.68 | -550.08 | -1767.93 | -920.46 | -1927.66 | -2968.11 | -2820.87 | -2940.00 | -8575.00 | -41772.00 | -47468.00 | -64312.00 | -36750.00 | -30625.00 | -27562.00 | 18375.00 | -58187.00 | -91875.00 | -38291.00 |
| Weighted Average OS | 5.82M | 679,000 | 24,000 | 9,199 | 7,125 | 5,726 | 3,533 | 2,762 | 2,501 | 1,536 | 455 | 324 | 249 | 192 | 168 | 152 | 146 | 139 | 59 | 138 |
| EBITDA | -$7.45M | -$7.04M | -$3.75M | -$7.2M | -$8.74M | -$6.37M | -$9.18M | -$7.61M | -$7.22M | -$11.03M | -$20.85M | -$16.65M | -$15.17M | -$7.97M | -$3.9M | -$4.09M | $3.11M | -$8.21M | -$5.69M | -$5.45M |
| EBITDA Margin | - | - | -35.8% | -50.0% | -85.7% | -64.2% | -139.0% | -60.8% | -39.6% | -92.7% | -475.9% | -1579.3% | -436.4% | -114.7% | -35.4% | -41.9% | 19.8% | -122.1% | -96.3% | -355.6% |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | 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 |
| Assets | ||||||||||||||||||||
| Current Assets | ||||||||||||||||||||
| Cash and Cash Equivalents | $7.96M | $430K | $2.92M | $5.36M | $7.5M | $11.95M | $6.94M | $3.18M | $3.2M | $9.51M | $2.38M | $5.43M | $10.5M | $12.73M | $8.43M | $11.53M | $10.99M | $12.1M | $10.94M | $4.9M |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $2.55M | $4.13M | $5.71M | $1.27M | $300K | $0 | $11.41M | $6.18M |
| Cash and Short-Term Investments | $7.96M | $430K | $2.92M | $5.36M | $7.5M | $11.95M | $6.94M | $3.18M | $3.2M | $9.51M | $2.38M | $5.43M | $13.05M | $16.87M | $14.14M | $12.81M | $11.29M | $12.1M | $22.35M | $11.09M |
| Accounts Receivable | $0 | $0 | $680K | $1.97M | $1.67M | $1.11M | $1.07M | $3.49M | $3.71M | $2.12M | $536K | $273K | $784K | $943K | $3K | $500K | $3.8M | $0 | $0 | $0 |
| Inventory | $0 | $0 | $501K | $3.44M | $3.22M | $608K | $492K | $280K | $504K | $873K | $1.34M | $521K | $231K | $23K | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $177K | $1.46M | $2.87M | $113K | $129K | $102K | $105K | $279K | $347K | $1.97M | $261K | $729K | $723K | $445K | $417K | $448K | $513K | $414K | $419K | $226K |
| Total Current Assets | $8.43M | $1.94M | $7.15M | $11.33M | $13.17M | $14.24M | $9.38M | $8.61M | $8.99M | $14.47M | $4.53M | $6.95M | $14.79M | $18.28M | $14.56M | $13.75M | $15.61M | $12.51M | $22.77M | $11.31M |
| Long-Term Assets | ||||||||||||||||||||
| Property, Plant & Equipment Net | $0 | $955K | $1.38M | $1.95M | $604K | $520K | $1.36M | $201K | $471K | $371K | $395K | $436K | $718K | $891K | $1.27M | $1.59M | $1.81M | $1.46M | $1.15M | $554K |
| Goodwill | $0 | $0 | $0 | $348K | $4.53M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $2.28M | $5.2M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $267K | $477K | $476K | $484K | $475K | $475K | $475K | $475K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $1.61M | $42.48M | $41.38M | $0 | $0 | $33.01M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $334K | $56K | $21K | $5K | $1K | $1K | $2K | $77K | $613K | $539K | $155K | $149K | $141K | $63K | $135K | $174K | $105K | $0 | $0 | $0 |
| Total Long-Term Assets | $2.21M | $43.97M | $43.27M | $5.07M | $10.81M | $34M | $1.84M | $753K | $1.08M | $910K | $550K | $585K | $859K | $954K | $1.4M | $1.76M | $1.92M | $1.46M | $1.15M | $554K |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $10.65M | $45.91M | $50.42M | $16.4M | $23.98M | $48.24M | $11.22M | $9.36M | $10.08M | $15.38M | $5.08M | $7.54M | $15.65M | $19.23M | $15.96M | $15.52M | $17.52M | $13.97M | $23.92M | $11.87M |
| Liabilities | ||||||||||||||||||||
| Current Liabilities | ||||||||||||||||||||
| Accounts Payable | $257K | $109K | $906K | $1.08M | $1.04M | $302K | $331K | $551K | $466K | $455K | $2.48M | $1.86M | $1.67M | $455K | $472K | $406K | $272K | $406K | $142K | $365K |
| Short-Term Debt | $489K | $963K | $1.5M | $453K | $305K | $416K | $3.54M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $106K | $371K | $408K | $256K | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $488K | $946K | $1.81M | $1.29M | $0 | $0 | $142K | $2.84M | $2.07M | $170K | $425K | $337K | $1.22M | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $363K | $923K | $580K | $656K | $360K | $1.48M | $1.35M | $2.45M | $564K | $1.8M | $776K | $388K | $767K | $595K | $1.67M | $1.66M | $2.65M | $3.24M | $3.49M | $2.9M |
| Total Current Liabilities | $1.14M | $2.84M | $4.28M | $4.26M | $3.44M | $2.83M | $5.69M | $3.85M | $4.98M | $4.32M | $4.63M | $3.35M | $3.63M | $3.17M | $2.84M | $2.72M | $4.04M | $4.48M | $4.58M | $3.39M |
| Long-Term Liabilities | ||||||||||||||||||||
| Long-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1.66M | $0 | $0 | $0 | $0 | $0 | $106K | $470K | $497K | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $534K | $1.99M | $2.25M | $2.17M | $1.67M | $731K | $1.06M | $2.2M | $0 | $1.67M | $4.48M | $6.67M |
| Long-Term Deferred Tax Liabilities | $1.61M | $42.48M | $41.38M | $0 | $0 | $33.01M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $34K | $0 | $0 | $0 |
| Other Long-Term Liabilities | $30.43M | $0 | $334K | $0 | $10.12M | $0 | $4.05M | $560K | $1.97M | $1.97M | $1.64M | $173K | $1.84M | $1.28M | $2.72M | $99K | $0 | $0 | $0 | $0 |
| Total Long-Term Liabilities | $32.33M | $43.19M | $42.83M | $1.59M | $10.37M | $33.09M | $4.56M | $560K | $2.51M | $3.96M | $5.54M | $2.34M | $3.51M | $2.01M | $3.78M | $2.3M | $140K | $2.14M | $5.02M | $6.67M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $33.47M | $46.03M | $47.1M | $5.84M | $13.81M | $35.92M | $10.25M | $4.41M | $7.49M | $8.28M | $10.18M | $5.69M | $7.13M | $5.19M | $6.62M | $5.03M | $4.18M | $6.62M | $9.6M | $10.05M |
| Stockholders' Equity | ||||||||||||||||||||
| Preferred Stock | $356K | $6K | $1.95M | $2.97M | $680K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $192K |
| Common Stock | $252K | $10K | $3K | $652K | $478K | $418K | $279K | $171K | $154K | $153K | $35K | $516K | $446K | $369K | $286K | $234K | $233K | $215K | $212K | $63K |
| Retained Earnings | -$210.41M | -$183.46M | -$174.85M | -$158.15M | -$141.89M | -$136.06M | -$125.02M | -$114.98M | -$111.07M | -$103.67M | -$90.52M | -$71.55M | -$56.35M | -$40.31M | -$33.28M | -$28.2M | -$23.89M | -$26.59M | -$18.47M | -$13.07M |
| Comprehensive Income & Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$15K | -$13K | -$44K | -$14K | $0 | $0 | -$3K | $12K |
| Other Stockholders' Equity | $187.34M | $183.32M | $178.16M | $168.05M | $151.58M | $147.96M | $125.72M | $119.76M | $113.51M | $110.62M | $85.39M | $72.88M | $64.42M | $53.99M | $42.34M | $38.45M | $37M | $33.72M | $32.58M | $14.82M |
| Total Equity | -$22.83M | -$129K | $3.31M | $10.55M | $10.17M | $12.32M | $973K | $4.95M | $2.59M | $7.1M | -$5.1M | $1.85M | $8.52M | $14.05M | $9.34M | $10.49M | $13.35M | $7.34M | $14.32M | $1.81M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $10.65M | $45.91M | $50.42M | $16.4M | $23.98M | $48.24M | $11.22M | $9.36M | $10.08M | $15.38M | $5.08M | $7.54M | $15.65M | $19.23M | $15.96M | $15.52M | $17.52M | $13.97M | $23.92M | $11.87M |
| Supplementary Data | ||||||||||||||||||||
| Total Debt | $776K | $1.67M | $2.61M | $2.04M | $551K | $503K | $4.05M | $0 | $0 | $0 | $1.66M | $0 | $0 | $0 | $0 | $106K | $477K | $885K | $802K | $0 |
| Net Debt | -$7.18M | $1.24M | -$311K | -$3.32M | -$6.95M | -$11.45M | -$2.89M | -$3.18M | -$3.2M | -$9.51M | -$730K | -$5.43M | -$10.5M | -$12.73M | -$8.43M | -$11.43M | -$10.52M | -$11.21M | -$10.14M | -$4.9M |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | 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 |
| Operating Activities | ||||||||||||||||||||
| Net Income | -$33.22M | -$8.75M | -$6.14M | -$16.27M | -$5.82M | -$11.04M | -$9.69M | -$6.54M | -$7.4M | -$13.15M | -$18.97M | -$15.19M | -$16.04M | -$7.03M | -$5.08M | -$4.31M | $2.7M | -$8.11M | -$5.4M | -$5.29M |
| Depreciation & Amortization | $140K | $341K | $356K | $483K | $119K | $51K | $65K | $266K | $95K | $114K | $164K | $232K | $314K | $341K | $425K | $427K | $373K | $304K | $183K | $74K |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $34K | $0 | $0 | $0 |
| Stock-Based Compensation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | ||||||||||||||||||||
| Accounts Receivable | $0 | $291K | $846K | -$305K | $452K | -$317K | $2.32M | $774K | -$1.51M | -$1.58M | -$299K | $555K | $159K | -$940K | $497K | $3.25M | -$3.8M | $0 | $0 | $0 |
| Inventory | $0 | -$272K | $162K | -$217K | -$243K | -$116K | -$212K | $198K | $369K | $472K | -$751K | -$451K | -$208K | -$23K | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | -$37K | -$195K | -$1.13M | $667K | -$163K | $321K | -$1.8M | $516K | -$260K | -$2.16M | $1.66M | -$252K | $1.41M | $665K | $345K | -$319K | -$70K | $289K | $397K | $576K |
| Other Working Capital | -$928K | -$287K | -$314K | $388K | -$84K | $249K | $651K | -$138K | -$205K | $115K | $413K | $691K | -$345K | $46K | -$1.31M | $1.57M | -$2.2M | -$3.35M | -$1.84M | $9.02M |
| Total Working Capital Change | -$965K | -$463K | -$433K | $533K | -$38K | $137K | $958K | $1.35M | -$1.6M | -$3.16M | $1.02M | $543K | $1.02M | -$252K | -$472K | $4.5M | -$6.08M | -$3.06M | -$1.45M | $9.6M |
| Other Non-Cash Items | $25.62M | $1.38M | $1.96M | $8.6M | -$3.45M | $6.06M | $489K | -$639K | $2.64M | $4.06M | -$768K | -$636K | $1.74M | $410K | $1.99M | $1.41M | $1.32M | $925K | $392K | $356K |
| Net Cash from Operating | -$8.43M | -$7.5M | -$4.26M | -$6.65M | -$9.19M | -$4.79M | -$8.18M | -$5.57M | -$6.27M | -$12.13M | -$18.56M | -$15.05M | -$12.97M | -$6.53M | -$3.14M | $2.03M | -$1.65M | -$9.94M | -$6.27M | $4.74M |
| Investing Activities | ||||||||||||||||||||
| Capital Expenditures | $0 | $0 | -$19K | -$112K | -$52K | -$26K | -$19K | -$44K | -$244K | -$160K | -$123K | -$68K | -$141K | -$148K | -$119K | -$203K | -$731K | -$610K | -$663K | -$362K |
| Acquisitions | $0 | $0 | $0 | $0 | -$11.99M | $0 | $0 | $0 | $0 | $0 | $37K | $128K | $0 | $6K | $0 | $0 | $2K | $0 | $1K | $1K |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$4.01M | -$4.33M | -$4.87M | -$7.58M | -$2.45M | -$3.98M | -$32.1M | -$49.2M | -$11.29M |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $6.55M | $5.88M | $6.38M | $3.04M | $1.46M | $3.63M | $43.57M | $44.2M | $6.14M |
| Other Investing Activities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Investing | $0 | $0 | -$19K | -$112K | -$12.04M | -$26K | -$19K | -$44K | -$244K | -$160K | -$86K | $2.6M | $1.41M | $1.36M | -$4.67M | -$1.19M | -$1.07M | $10.86M | -$5.66M | -$5.51M |
| Financing Activities | ||||||||||||||||||||
| Debt Repaid | - | - | - | - | - | - | -$2.15M | - | - | $1.66M | -$1.66M | - | - | - | - | $371K | $408K | -$83K | $31K | - |
| Common Stock Issuance | $12.63M | $3.1M | $565K | $4.74M | $16.68M | $12.32M | $9.56M | $5.6M | $249K | $21.08M | $13.95M | $7.39M | $9.33M | $9.54M | $103K | $81K | $2.02M | $153K | $17.28M | $3.46M |
| Common Stock Repurchases | -$2.18M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | -$4.82M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | -$525K | -$115K | -$181K | $0 | $0 | $0 | $0 | $0 | -$48K | $0 | $0 | $0 | $0 | $0 | $4.53M | -$2K | $0 | $0 | $716K | $0 |
| Net Cash from Financing | $4.62M | $1.5M | $1.91M | $4.63M | $16.79M | $9.84M | $11.95M | $5.6M | $201K | $19.42M | $15.6M | $7.39M | $9.33M | $9.47M | $4.7M | -$292K | $1.61M | $236K | $17.97M | $3.46M |
| Forex Effect | $11.34M | $3.5M | -$68K | -$9K | $0 | $0 | $0 | -$1K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $2.21M |
| Net Change in Cash | $7.53M | -$2.49M | -$2.44M | -$2.14M | -$4.45M | $5.01M | $3.75M | -$16K | -$6.31M | $7.13M | -$3.04M | -$5.07M | -$2.23M | $4.31M | -$3.11M | $542K | -$1.11M | $1.16M | $6.04M | $4.9M |
| Supplementary Data | ||||||||||||||||||||
| Operating Cash Flow | -$8.43M | -$7.5M | -$4.26M | -$6.65M | -$9.19M | -$4.79M | -$8.18M | -$5.57M | -$6.27M | -$12.13M | -$18.56M | -$15.05M | -$12.97M | -$6.53M | -$3.14M | $2.03M | -$1.65M | -$9.94M | -$6.27M | $4.74M |
| Capital Expenditure | $0 | $0 | -$19K | -$112K | -$52K | -$26K | -$19K | -$44K | -$244K | -$160K | -$123K | -$68K | -$141K | -$148K | -$119K | -$203K | -$731K | -$610K | -$663K | -$362K |
| Free Cash Flow | -$8.43M | -$7.5M | -$4.28M | -$6.77M | -$9.24M | -$4.82M | -$8.19M | -$5.61M | -$6.51M | -$12.29M | -$18.68M | -$15.12M | -$13.11M | -$6.68M | -$3.26M | $1.82M | -$2.38M | -$10.55M | -$6.93M | $4.38M |
| Cash at Beginning | $430K | $2.92M | $5.36M | $7.5M | $11.95M | $6.94M | $3.18M | $3.2M | $9.51M | $2.38M | $5.43M | $10.5M | $12.73M | $8.43M | $11.53M | $10.99M | $12.1M | $10.94M | $4.9M | $0 |
| Cash at End | $7.96M | $430K | $2.92M | $5.36M | $7.5M | $11.95M | $6.94M | $3.18M | $3.2M | $9.51M | $2.38M | $5.43M | $10.5M | $12.73M | $8.43M | $11.53M | $10.99M | $12.1M | $10.94M | $4.9M |