Stereotaxis
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S-1/A
STEREOTAXIS, INC. filed this Form S-1/A on 06/17/2004
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STEREOTAXIS, INC.

STATEMENTS OF CASH FLOWS
                                             
Year Ended December 31 Three Months Ended March 31


2001 2002 2003 2003 2004





(Unaudited)
Cash flows from operating activities
                                       
Net loss
  $ (17,005,198 )   $ (21,458,658 )   $ (24,036,837 )   $ (4,905,670 )   $ (7,849,997 )
Adjustments to reconcile net loss to cash used in operating activities:
                                       
 
Depreciation
    253,441       406,766       447,786       104,855       193,721  
 
Amortization
                55,556             33,333  
 
Stock-based compensation
    622,299       483,638       492,168       125,001       183,553  
 
Noncash research and development services
    49,501                          
 
Interest receivable from sale of stock
    (12,284 )     (28,758 )     (21,653 )     (7,483 )     (6,296 )
 
Changes in operating assets and liabilities:
                                       
   
Accounts receivable
    (355,596 )     (80,550 )     (123,575 )     (305,429 )     (3,225,038 )
   
Notes receivable
                (621,324 )           169,401  
   
Inventories
          (2,360,607 )     (2,069,621 )     (823,089 )     (196,769 )
   
Prepaid expenses and other current assets
    (47,888 )     (368,106 )     (405,987 )     (2,939 )     (105,527 )
   
Other assets
    (27,088 )     (77,337 )     18,778       13,363       7,862  
   
Accounts payable
    260,797       169,638       192,136       217,134       180,069  
   
Accrued liabilities
    1,551,274       468,440       2,379,901       (24,762 )     (311,671 )
   
Deferred revenue
    547,600       826,000       (837,607 )     252,182       1,877,850  
   
Other
    1,912       (9,401 )     60,885       (1,616 )     59,072  
     
     
     
     
     
 
Net cash used in operating activities
    (14,161,230 )     (22,028,935 )     (24,469,394 )     (5,358,453 )     (8,990,437 )
Cash flows from investing activities
                                       
Purchase of equipment
    (665,436 )     (308,512 )     (2,057,671 )     (123,374 )     (393,757 )
Sale (purchase) of short-term investments, net
    17,905,006       1,788,105       (5,124,365 )           3,338  
     
     
     
     
     
 
Net cash (used in) provided by investing activities
    17,239,570       1,479,593       (7,182,036 )     (123,374 )     (390,419 )
Cash flows from financing activities
                                       
Proceeds from long-term debt
          3,874,627       1,829,690       366,769        
Payments under long-term debt
          (688,995 )     (2,482,240 )     (227,432 )     (246,432 )
Proceeds from issuance of stock and warrants, net of issuance costs
    20,557,273       17,521,148       24,829,113       6,033,514       15,876,719  
Purchase of treasury stock
    (2,156 )           (15,594 )           (90 )
Payments received on notes receivable from sale of common stock
    11,500       12,585       12,585             8,592  
     
     
     
     
     
 
Net cash provided by financing activities
    20,566,617       20,719,365       24,173,554       6,172,851       15,638,789  
     
     
     
     
     
 
Net increase (decrease) in cash and cash equivalents
    23,644,957       170,023       (7,477,876 )     691,024       6,257,933  
Cash and cash equivalents at beginning of period
    5,019,143       28,664,100       28,834,123       28,834,123       21,356,247  
     
     
     
     
     
 
Cash and cash equivalents at end of period
  $ 28,664,100     $ 28,834,123     $ 21,356,247     $ 29,525,147     $ 27,614,180  
     
     
     
     
     
 
Supplemental disclosures of cash flow information:
                                       
 
Interest paid
  $     $ 371,051     $ 394,287     $ 114,000     $ 50,109  
     
     
     
     
     
 
 
Noncash acquisition of purchased technology upon issuance of convertible note payable
  $     $     $ 2,000,000     $     $  
     
     
     
     
     
 

See accompanying notes.

F-9


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