HLTH 8-K/A Financial statements and exhibits

EXHIBIT 99.4

WebMD CORPORATION

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

				Three Months			Six Months			Nine Months
				Ended			Ended			Ended			Year Ended
				March 31,			June 30,			September 30,			December 31,
				2002			2002			2002			2002
				(unaudited)			(unaudited)			(unaudited)			(audited)
Cash flows from operating activities:
Net loss				$	(29,602	)	$	(51,811	)	$	(47,273	)	$	(49,702	)
Adjustments to reconcile net loss to net cash provided by operating activities:
	Depreciation and amortization				32,759			65,792			98,989			130,074
	Impairment of long-lived and other assets				—			609			609			609
	Amortization of debt issuance costs				—			374			740			1,109
	Non-cash content and distribution services				7,260			13,409			19,558			25,706
	Non-cash stock based compensation				7,576			14,890			21,559			25,265
	Non-cash portion of restructuring and integration charge				—			617			617			617
	Gain on investments				—			(5,866	)		(6,547	)		(6,547	)
	Changes in operating assets and liabilities:
		Accounts receivable			(1,692	)		2,097			3,409			(2,449	)
		Inventory			(1,894	)		1,481			2,110			381
		Federal income tax receivable			—			—			(12,887	)		—
		Prepaid content and distribution services			(1,649	)		(938	)		(201	)		753
		Other assets			807			(1,116	)		(8,202	)		(4,541	)
		Accounts payable			(3,389	)		(5,108	)		(3,976	)		(8,328	)
		Accrued expenses			10,049			1,210			(9,912	)		(32,380	)
		Deferred revenue			8,393			10,871			6,822			12,530
			Net cash provided by operating activities		28,618			46,511			65,415			93,097
Cash flows from investing activities:
Proceeds from maturities and sales of available-for-sale securities					79,248			101,826			106,108			108,991
Proceeds from maturities and redemption of held-to- maturity securities					1,055			1,055			59,095			59,095
Purchases of available-for-sale securities					—			(201,565	)		(206,983	)		(207,833	)
Purchases of held-to-maturity securities					(156,714	)		(246,072	)		(300,970	)		(300,970	)
Purchases of property and equipment					(5,753	)		(14,370	)		(22,410	)		(28,474	)
Cash paid in business combinations, net of cash acquired					(1,142	)		(2,924	)		(9,929	)		(33,471	)
			Net cash used in investing activities		(83,306	)		(362,050	)		(375,089	)		(402,662	)
Cash flows from financing activities:
Proceeds from issuance of common stock					5,351			13,369			14,313			28,764
Purchase of treasury shares					—			(88,747	)		(103,784	)		(104,960	)
Payment of notes payable and other					(645	)		(4,021	)		(4,046	)		(4,054	)
Net proceeds from issuance of convertible debt					—			292,000			292,000			292,000
Redemption of Series B Preferred Stock					(10,000	)		(10,000	)		(10,000	)		(10,000	)
			Net cash provided by (used in) financing activities		(5,294	)		202,601			188,483			201,750
Effects of foreign currency translation adjustment					(121	)		899			765			1,083
Net decrease in cash and cash equivalents					(60,103	)		(112,039	)		(120,426	)		(106,732	)
Cash and cash equivalents at beginning of period					286,273			286,273			286,273			286,273
Cash and cash equivalents at end of period				$	226,170		$	174,234		$	165,847		$	179,541

WebMD CORPORATION

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

				Three Months			Six Months			Nine Months
				Ended			Ended			Ended			Year Ended
				March 31,			June 30,			September 30,			December 31,
				2001			2001			2001			2001
				(unaudited)			(unaudited)			(unaudited)			(audited)
Cash flows from operating activities:
Net loss				$	(1,035,759	)	$	(1,852,542	)	$	(6,472,788	)	$	(6,672,318	)
Adjustments to reconcile net loss to net cash used in operating activities:
	Depreciation and amortization				762,618			1,520,536			2,274,834			2,400,804
	Impairment of long-lived and other assets				—			—			3,826,893			3,826,893
	Non-cash content and distribution services				8,175			16,383			26,230			45,474
	Non-cash stock based compensation				30,011			53,549			70,184			78,451
	Non-cash portion of restructuring and integration charge				185,498			185,498			185,498			185,498
	Changes in operating assets and liabilities:
		Accounts receivable			11,284			8,649			36,732			47,477
		Inventory			1,153			906			190			(891	)
		Prepaid content and distribution services			(12,591	)		(10,310	)		(8,071	)		(7,609	)
		Other assets			(6,039	)		4,350			18,715			20,282
		Accounts payable			(498	)		(4,522	)		(6,842	)		(5,114	)
		Accrued expenses			10,509			(13,259	)		(29,287	)		(44,724	)
		Deferred revenue			3,071			5,004			10,630			11,508
			Net cash used in operating activities		(42,568	)		(85,758	)		(67,082	)		(114,269	)
Cash flows from investing activities:
Proceeds from maturities and sales of available-for-sale securities					119,000			119,000			119,000			124,725
Proceeds from maturities and redemption of held-to- maturity securities					1,014			1,014			1,014			1,014
Purchases of held-to-maturity securities					(1,014	)		(1,014	)		(1,014	)		(1,014	)
Purchases of property and equipment					(7,854	)		(18,564	)		(26,603	)		(30,998	)
Cash paid in business combinations, net of cash acquired					—			(6,042	)		(6,042	)		(17,334	)
			Net cash provided by investing activities		111,146			94,394			86,355			76,393
Cash flows from financing activities:
Proceeds from issuance of common stock					2,859			7,208			9,545			12,995
Purchase of treasury shares					—			(2,835	)		(12,195	)		(191,823	)
Payment of notes payable and other					(104	)		(2,413	)		(2,854	)		(3,367	)
			Net cash (used in) provided by financing activities		2,755			1,960			(5,504	)		(182,195	)
Effects of foreign currency translation adjustment					(320	)		(526	)		(19	)		(312	)
Net (decrease) increase in cash and cash equivalents					71,013			10,070			13,750			(220,383	)
Cash and cash equivalents at beginning of period					506,656			506,656			506,656			506,656
Cash and cash equivalents at end of period				$	577,669		$	516,726		$	520,406		$	286,273