Condensed Consolidating Financial Information | Note 18— Condensed Consolidating Financial Information Guarantees of Registered Securities Noble-Cayman, or one or more 100 percent owned subsidiaries of Noble-Cayman, is an issuer, co-issuer or full and unconditional guarantor or otherwise obligated as of December 31, 2018 with respect to registered securities as follows (see “ Note 7— Debt ” for additional information): Issuer Notes (1) (Co-Issuer(s)) Guarantor 5.75% Senior Notes due 2018 NHIL Noble-Cayman 7.50% Senior Notes due 2019 (2) NHUS Noble-Cayman Noble Drilling Holding, LLC (“NDH”) Noble Drilling Services 6 LLC (“NDS6”) 4.90% Senior Notes due 2020 NHIL Noble-Cayman 4.625% Senior Notes due 2021 NHIL Noble-Cayman 3.95% Senior Notes due 2022 NHIL Noble-Cayman 7.75% Senior Notes due 2024 NHIL Noble-Cayman 7.95% Senior Notes due 2025 NHIL Noble-Cayman 6.20% Senior Notes due 2040 NHIL Noble-Cayman 6.05% Senior Notes due 2041 NHIL Noble-Cayman 5.25% Senior Notes due 2042 NHIL Noble-Cayman 8.95% Senior Notes due 2045 NHIL Noble-Cayman (1) Our 2026 Notes are excluded from this list as they are unregistered securities issued in a non-public offering. (2) In February 2018 , the entire remaining principal amount of 2019 Notes were redeemed and, as a result, we have prospectively eliminated NHUS, NDH, and NDS6 as guarantors in the current year presentation of the Condensed Consolidating Financial Information. However, prior year information is presented as previously reported. The following condensed consolidating financial statements of Noble-Cayman, NHUS, NDH, NHIL, NDS6 and all other subsidiaries present investments in both consolidated and unconsolidated affiliates using the equity method of accounting. NOBLE CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2018 (Unless otherwise indicated, dollar amounts in tables are in thousands, except per share data) Noble - NHIL Other Consolidating Total ASSETS Current assets Cash and cash equivalents $ — $ 17,818 $ 356,557 $ — $ 374,375 Accounts receivable — — 200,722 — 200,722 Taxes receivable — — 20,498 — 20,498 Short-term notes receivable from affiliates — — 3,175,662 (3,175,662 ) — Accounts receivable from affiliates 275,726 61,046 4,823,902 (5,160,674 ) — Prepaid expenses and other current assets — — 61,917 — 61,917 Total current assets 275,726 78,864 8,639,258 (8,336,336 ) 657,512 Property and equipment, at cost — — 10,956,412 — 10,956,412 Accumulated depreciation — — (2,475,694 ) — (2,475,694 ) Property and equipment, net — — 8,480,718 — 8,480,718 Notes receivable from affiliates 5,145 — — (5,145 ) — Investments in affiliates 7,716,068 12,300,840 — (20,016,908 ) — Other assets 609 — 124,540 — 125,149 Total assets $ 7,997,548 $ 12,379,704 $ 17,244,516 $ (28,358,389 ) $ 9,263,379 LIABILITIES AND EQUITY Current liabilities Short-term notes payables to affiliates $ — $ 3,175,662 $ — $ (3,175,662 ) $ — Accounts payable 45 — 125,192 — 125,237 Accrued payroll and related costs — — 50,284 — 50,284 Accounts payable to affiliates 3,725,506 1,098,395 336,773 (5,160,674 ) — Taxes payable — — 29,386 — 29,386 Interest payable 3 99,997 100 — 100,100 Other current liabilities — — 60,012 — 60,012 Total current liabilities 3,725,554 4,374,054 601,747 (8,336,336 ) 365,019 Long-term debt — 3,817,153 60,249 — 3,877,402 Notes payable to affiliates — — 5,145 (5,145 ) — Deferred income taxes — — 91,695 — 91,695 Other liabilities 19,929 — 255,866 — 275,795 Total liabilities 3,745,483 8,191,207 1,014,702 (8,341,481 ) 4,609,911 Commitments and contingencies Total shareholder equity 4,252,065 4,188,497 15,828,411 (20,016,908 ) 4,252,065 Noncontrolling interests — — 401,403 — 401,403 Total equity 4,252,065 4,188,497 16,229,814 (20,016,908 ) 4,653,468 Total liabilities and equity $ 7,997,548 $ 12,379,704 $ 17,244,516 $ (28,358,389 ) $ 9,263,379 NOBLE CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2017 (Unless otherwise indicated, dollar amounts in tables are in thousands, except per share data) Noble- NHUS NDH NHIL NDS6 Other Consolidating Total ASSETS Current assets Cash and cash equivalents $ 11 $ — $ 23,160 $ 29,324 $ — $ 609,516 $ — $ 662,011 Accounts receivable — — 24,722 — — 179,974 — 204,696 Taxes receivable — 93,302 3 — — 12,040 — 105,345 Short-term notes receivable from affiliates — — 119,476 — 2,373,452 — (2,492,928 ) — Accounts receivable from affiliates 594,456 1,454 144,367 60,945 465,749 5,813,846 (7,080,817 ) — Prepaid expenses and other current assets — — 1,477 — 1 63,963 — 65,441 Total current assets 594,467 94,756 313,205 90,269 2,839,202 6,679,339 (9,573,745 ) 1,037,493 Property and equipment, at cost — — 857,784 — — 11,176,547 — 12,034,331 Accumulated depreciation — — (110,005 ) — — (2,435,086 ) — (2,545,091 ) Property and equipment, net — — 747,779 — — 8,741,461 — 9,489,240 Notes receivable from affiliates 3,177,248 — 1,199,815 — 3,943,299 1,175,300 (9,495,662 ) — Investments in affiliates 4,933,978 4,550,358 5,252,135 12,560,598 7,237,474 — (34,534,543 ) — Other assets 2,663 16,775 8,372 — — 238,718 — 266,528 Total assets $ 8,708,356 $ 4,661,889 $ 7,521,306 $ 12,650,867 $ 14,019,975 $ 16,834,818 $ (53,603,950 ) $ 10,793,261 LIABILITIES AND EQUITY Current liabilities Short-term notes payables to affiliates $ — $ 1,605,243 $ — $ — $ — $ 887,685 $ (2,492,928 ) $ — Current maturities of long-term debt — — — 249,843 — — — 249,843 Accounts payable — — 1,467 — — 82,406 — 83,873 Accrued payroll and related costs — — 4,780 — — 50,124 — 54,904 Accounts payable to affiliates 3,410,669 393,073 1,770,066 661,375 — 845,634 (7,080,817 ) — Taxes payable — — — — — 33,965 — 33,965 Interest payable 2,211 — — 83,960 12,018 — — 98,189 Other current liabilities — — 5,169 — — 66,297 — 71,466 Total current liabilities 3,412,880 1,998,316 1,781,482 995,178 12,018 1,966,111 (9,573,745 ) 592,240 Long-term debt — — — 3,594,332 201,535 — — 3,795,867 Notes payable to affiliates — 700,000 474,637 3,175,663 — 5,145,362 (9,495,662 ) — Deferred income taxes — — 5 — — 164,957 — 164,962 Other liabilities 19,929 — 30,330 — — 239,919 — 290,178 Total liabilities 3,432,809 2,698,316 2,286,454 7,765,173 213,553 7,516,349 (19,069,407 ) 4,843,247 Commitments and contingencies Total shareholder equity 5,275,547 1,963,573 5,234,852 4,885,694 13,806,422 8,644,002 (34,534,543 ) 5,275,547 Noncontrolling interests — — — — — 674,467 — 674,467 Total equity 5,275,547 1,963,573 5,234,852 4,885,694 13,806,422 9,318,469 (34,534,543 ) 5,950,014 Total liabilities and equity $ 8,708,356 $ 4,661,889 $ 7,521,306 $ 12,650,867 $ 14,019,975 $ 16,834,818 $ (53,603,950 ) $ 10,793,261 NOBLE CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS and COMPREHENSIVE INCOME (LOSS) Year Ended December 31, 2018 (Unless otherwise indicated, dollar amounts in tables are in thousands, except per share data) Noble- NHIL Other Consolidating Total Operating revenues Contract drilling services $ — $ — $ 1,036,082 $ — $ 1,036,082 Reimbursables and other — — 46,744 — 46,744 Total operating revenues — — 1,082,826 — 1,082,826 Operating costs and expenses Contract drilling services 2 (22 ) 628,148 — 628,128 Reimbursables — — 37,084 — 37,084 Depreciation and amortization — — 482,660 — 482,660 General and administrative 57 214 37,932 — 38,203 Loss on impairment — — 802,133 — 802,133 Total operating costs and expenses 59 192 1,987,957 — 1,988,208 Operating loss (59 ) (192 ) (905,131 ) — (905,382 ) Other income (expense) Income (loss) of unconsolidated affiliates - continuing operations (2,738,475 ) (258,687 ) — 2,997,162 — Interest expense, net of amounts capitalized (1,324 ) (449,824 ) (1,911,822 ) 2,065,359 (297,611 ) Gain (loss) on extinguishment of debt, net (2,336 ) 12,651 (12,108 ) — (1,793 ) Interest income and other, net 1,897,709 (74 ) 176,006 (2,065,359 ) 8,282 Income (loss) before income taxes (844,485 ) (696,126 ) (2,653,055 ) 2,997,162 (1,196,504 ) Income tax benefit (provision) — — 106,534 — 106,534 Net income (loss) (844,485 ) (696,126 ) (2,546,521 ) 2,997,162 (1,089,970 ) Net income attributable to noncontrolling interests — — 245,485 — 245,485 Net income (loss) attributable to Noble Corporation (844,485 ) (696,126 ) (2,301,036 ) 2,997,162 (844,485 ) Other comprehensive income (loss), net (8,644 ) — (8,644 ) 8,644 (8,644 ) Comprehensive income (loss) attributable to Noble Corporation $ (853,129 ) $ (696,126 ) $ (2,309,680 ) $ 3,005,806 $ (853,129 ) NOBLE CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS and COMPREHENSIVE INCOME (LOSS) Year Ended December 31, 2017 (Unless otherwise indicated, dollar amounts in tables are in thousands, except per share data) Noble- NHUS NDH NHIL NDS6 Other Consolidating Total Operating revenues Contract drilling services $ — $ — $ 168,592 $ — $ — $ 1,086,320 $ (47,886 ) $ 1,207,026 Reimbursables and other — — 3,443 — — 26,446 — 29,889 Total operating revenues — — 172,035 — — 1,112,766 (47,886 ) 1,236,915 Operating costs and expenses Contract drilling services 304 12,090 43,161 3,115 — 629,699 (47,886 ) 640,483 Reimbursables — — 1,992 — — 16,443 — 18,435 Depreciation and amortization — — 58,236 — — 484,883 — 543,119 General and administrative 129 5,761 — 1,588 9 33,600 — 41,087 Loss on impairment — — 45,012 — — 76,627 — 121,639 Total operating costs and expenses 433 17,851 148,401 4,703 9 1,241,252 (47,886 ) 1,364,763 Operating income (loss) (433 ) (17,851 ) 23,634 (4,703 ) (9 ) (128,486 ) — (127,848 ) Other income (expense) Income (loss) of unconsolidated affiliates - continuing operations (476,382 ) (528,702 ) 82,596 188,809 17,874 — 715,805 — Income (loss) of unconsolidated affiliates - discontinued operations, net of tax 2,967 4,566 — — — — (7,533 ) — Interest expense, net of amounts capitalized (10,951 ) (32,838 ) (13,493 ) (430,580 ) (15,288 ) (130,442 ) 341,603 (291,989 ) Interest income and other, net 10,483 (141 ) 87,287 4,771 224,772 22,164 (341,603 ) 7,733 Income (loss) before income taxes (474,316 ) (574,966 ) 180,024 (241,703 ) 227,349 (236,764 ) 708,272 (412,104 ) Income tax benefit (provision) — 241,960 (440 ) — — (284,115 ) — (42,595 ) Net income (loss) from continuing operations (474,316 ) (333,006 ) 179,584 (241,703 ) 227,349 (520,879 ) 708,272 (454,699 ) Net income (loss) from discontinuing operations, net of tax — (1,598 ) — — — 4,565 — 2,967 Net income (loss) (474,316 ) (334,604 ) 179,584 (241,703 ) 227,349 (516,314 ) 708,272 (451,732 ) Net income attributable to noncontrolling interests — — — — — (20,589 ) (1,995 ) (22,584 ) Net income (loss) attributable to Noble Corporation (474,316 ) (334,604 ) 179,584 (241,703 ) 227,349 (536,903 ) 706,277 (474,316 ) Other comprehensive income (loss), net 9,252 — — — — 9,252 (9,252 ) 9,252 Comprehensive income (loss) attributable to Noble Corporation $ (465,064 ) $ (334,604 ) $ 179,584 $ (241,703 ) $ 227,349 $ (527,651 ) $ 697,025 $ (465,064 ) NOBLE CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF INCOME and COMPREHENSIVE INCOME (LOSS) Year Ended December 31, 2016 (Unless otherwise indicated, dollar amounts in tables are in thousands, except per share data) Noble- NHUS NDH NHIL NDS6 Other Consolidating Total Operating revenues Contract drilling services $ — $ — $ 250,049 $ — $ — $ 2,086,848 $ (94,697 ) $ 2,242,200 Reimbursables and other — — 9,190 — — 51,375 — 60,565 Total operating revenues — — 259,239 — — 2,138,223 (94,697 ) 2,302,765 Operating costs and expenses Contract drilling services 4,532 18,902 70,801 84,309 — 788,065 (94,697 ) 871,912 Reimbursables — — 8,231 — — 37,268 — 45,499 Depreciation and amortization — — 91,802 — — 519,211 — 611,013 General and administrative 1,264 8,716 — 40,082 1 (4,018 ) — 46,045 Loss on impairment — — — — — 1,458,749 — 1,458,749 Total operating costs and expenses 5,796 27,618 170,834 124,391 1 2,799,275 (94,697 ) 3,033,218 Operating income (loss) (5,796 ) (27,618 ) 88,405 (124,391 ) (1 ) (661,052 ) — (730,453 ) Other income (expense) Income (loss) of unconsolidated affiliates (962,662 ) (257,142 ) (980,099 ) (333,446 ) 515,518 — 2,017,831 — Interest expense, net of amounts capitalized (27,891 ) (70,494 ) (11,461 ) (228,423 ) (15,117 ) (122,345 ) 252,816 (222,915 ) Gain on extinguishment of debt, net — — — 17,814 — — — 17,814 Interest income and other, net 96,635 120 12,616 20,412 15,058 106,359 (252,816 ) (1,616 ) Income (loss) before income taxes (899,714 ) (355,134 ) (890,539 ) (648,034 ) 515,458 (677,038 ) 2,017,831 (937,170 ) Income tax benefit (provision) — (42,522 ) 163 — — 151,522 — 109,163 Net income (loss) (899,714 ) (397,656 ) (890,376 ) (648,034 ) 515,458 (525,516 ) 2,017,831 (828,007 ) Net (income) loss attributable to noncontrolling interests — — — — — (39,294 ) (32,413 ) (71,707 ) Net income (loss) attributable to Noble Corporation (899,714 ) (397,656 ) (890,376 ) (648,034 ) 515,458 (564,810 ) 1,985,418 (899,714 ) Other comprehensive income (loss), net 11,035 — — — — 11,035 (11,035 ) 11,035 Comprehensive income (loss) attributable to Noble Corporation $ (888,679 ) $ (397,656 ) $ (890,376 ) $ (648,034 ) $ 515,458 $ (553,775 ) $ 1,974,383 $ (888,679 ) NOBLE CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Year Ended December 31, 2018 (Unless otherwise indicated, dollar amounts in tables are in thousands) Noble- NHIL Other Consolidating Total Cash flows from operating activities Net cash provided by (used in) operating activities $ 1,920,724 $ (426,298 ) $ (1,281,667 ) $ — $ 212,759 Cash flows from investing activities Capital expenditures — — (194,779 ) — (194,779 ) Proceeds from disposal of assets — — 5,402 — 5,402 Net cash used in investing activities — — (189,377 ) — (189,377 ) Cash flows from financing activities Issuance of senior notes — 750,000 — — 750,000 Repayment of long-term debt — (759,053 ) (213,655 ) — (972,708 ) Debt issuance costs (845 ) (13,027 ) (1,767 ) — (15,639 ) Dividends paid to noncontrolling interests — — (27,579 ) — (27,579 ) Distribution to parent company, net (44,417 ) — — — (44,417 ) Advances (to) from affiliates (1,875,473 ) 436,872 1,438,601 — — Net cash provided by (used in) financing activities (1,920,735 ) 414,792 1,195,600 — (310,343 ) Net change in cash, cash equivalents and restricted cash (11 ) (11,506 ) (275,444 ) — (286,961 ) Cash, cash equivalents and restricted cash, beginning of period 11 29,324 632,676 — 662,011 Cash, cash equivalents and restricted cash, end of period $ — $ 17,818 $ 357,232 $ — $ 375,050 NOBLE CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Year Ended December 31, 2017 (Unless otherwise indicated, dollar amounts in tables are in thousands) Noble- NHUS NDH NHIL NDS6 Other Consolidating Total Cash flows from operating activities Net cash provided by (used in) operating activities $ 32,195 $ 100,883 $ 209,898 $ (403,391 ) $ 217,080 $ 298,409 $ — $ 455,074 Cash flows from investing activities Capital expenditures — — (3,622 ) — — (117,085 ) — (120,707 ) Proceeds from disposal of assets — — 46 — — 2,336 — 2,382 Net cash used in investing activities — — (3,576 ) — — (114,749 ) — (118,325 ) Cash flows from financing activities Repayment of long-term debt — — — (300,000 ) — — — (300,000 ) Debt issuance costs on senior notes and credit facilities — — — (42 ) — — — (42 ) Dividends paid to noncontrolling interests — — — — — (56,881 ) — (56,881 ) Contributions from parent company, net 28,352 — — — — — — 28,352 Advances (to) from affiliates (63,073 ) (100,883 ) (194,017 ) 732,757 (217,080 ) (157,704 ) — — Net cash provided by (used in) financing activities (34,721 ) (100,883 ) (194,017 ) 432,715 (217,080 ) (214,585 ) — (328,571 ) Net change in cash, cash equivalents and restricted cash (2,526 ) — 12,305 29,324 — (30,925 ) — 8,178 Cash, cash equivalents and restricted cash, beginning of period 2,537 — 10,855 — — 640,441 — 653,833 Cash, cash equivalents and restricted cash, end of period $ 11 $ — $ 23,160 $ 29,324 $ — $ 609,516 $ — $ 662,011 NOBLE CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Year Ended December 31, 2016 (Unless otherwise indicated, dollar amounts in tables are in thousands) Noble- NHUS NDH NHIL NDS6 Other Consolidating Total Cash flows from operating activities Net cash provided by (used in) operating activities $ 97,388 $ (150,735 ) $ 149,431 $ (344,112 ) $ (60 ) $ 1,421,023 $ — $ 1,172,935 Cash flows from investing activities Capital expenditures — — (492,985 ) — — (218,418 ) — (711,403 ) Proceeds from disposal of assets — — — — — 24,808 — 24,808 Net cash provided by (used in) investing activities — — (492,985 ) — — (193,610 ) — (686,595 ) Cash flows from financing activities Repayment of long-term debt — — — (1,049,338 ) — — — (1,049,338 ) Issuance of senior notes — — — 980,100 — — — 980,100 Tender offer premium — — — (24,649 ) — — — (24,649 ) Debt issuance costs on senior notes and credit facilities — — — (12,111 ) — — — (12,111 ) Dividends paid to noncontrolling interests — — — — — (85,944 ) — (85,944 ) Distributions to parent company, net (152,360 ) — — — — — — (152,360 ) Advances (to) from affiliates 55,882 150,735 352,308 450,110 60 (1,009,095 ) — — Net cash provided by (used in) financing activities (96,478 ) 150,735 352,308 344,112 60 (1,095,039 ) — (344,302 ) Net change in cash, cash equivalents and restricted cash 910 — 8,754 — — 132,374 — 142,038 Cash, cash equivalents and restricted cash, beginning of period 1,627 — 2,101 — — 508,067 — 511,795 Cash, cash equivalents and restricted cash, end of period $ 2,537 $ — $ 10,855 $ — $ — $ 640,441 $ — $ 653,833 Revision of Prior Period Financial Statements During the preparation of our 2018 financial statements, we identified a computational error that resulted in misstatements of certain line items on the Consolidated Statements of Cash Flows for Noble Corporation (Cayman) for the years ended December 31, 2017 and 2016 . These errors did not impact our cash, cash equivalents and restricted cash balances. We assessed the materiality of the misstatements and concluded the misstatements were immaterial to the previously issued financial statements. We have revised the Consolidated Statements of Cash Flows for the years ended December 31, 2017 and 2016 . The impacts on the Consolidated Statements of Cash Flows and related notes to the financial statements are presented below: Year Ended December 31, 2017 As Reported - Noble Corporation (Cayman) Noble- Cayman NHUS NDH NHIL NDS6 Other Non-guarantor Subsidiaries of Noble Consolidating Adjustments Total Cash flow from operating activities Net cash provided by (used in) operating activities $ 32,195 $ 100,883 $ 209,898 $ (403,391 ) $ 217,080 $ 335,672 $ — $ 492,337 Cash flows from investing activities Capital expenditures — — (3,622 ) — — (154,348 ) — (157,970 ) Net cash used in investing activities — — (3,576 ) — — (152,012 ) — (155,588 ) Adjustments - Noble Corporation (Cayman) Noble- Cayman NHUS NDH NHIL NDS6 Other Non-guarantor Subsidiaries of Noble Consolidating Adjustments Total Cash flow from operating activities Net cash provided by (used in) operating activities — — — — — (37,263 ) — (37,263 ) Cash flows from investing activities Capital expenditures — — — — — 37,263 — 37,263 Net cash used in investing activities — — — — — 37,263 — 37,263 As Revised - Noble Corporation (Cayman) Noble- Cayman NHUS NDH NHIL NDS6 Other Non-guarantor Subsidiaries of Noble Consolidating Adjustments Total Cash flow from operating activities Net cash provided by (used in) operating activities 32,195 100,883 209,898 (403,391 ) 217,080 298,409 — 455,074 Cash flows from investing activities Capital expenditures — — (3,622 ) — — (117,085 ) — (120,707 ) Net cash used in investing activities — — (3,576 ) — — (114,749 ) — (118,325 ) Year Ended December 31, 2016 As Reported - Noble Corporation (Cayman) Noble- Cayman NHUS NDH NHIL NDS6 Other Non-guarantor Subsidiaries of Noble Consolidating Adjustments Total Cash flow from operating activities Net cash provided by (used in) operating activities $ 97,388 $ (150,735 ) $ 149,431 $ (344,112 ) $ (60 ) $ 1,404,359 $ — $ 1,156,271 Cash flows from investing activities Capital expenditures — — (492,985 ) — — (201,754 ) — (694,739 ) Net cash used in investing activities — — (492,985 ) — — (176,946 ) — (669,931 ) Adjustments - Noble Corporation (Cayman) Noble- Cayman NHUS NDH NHIL NDS6 Other Non-guarantor Subsidiaries of Noble Consolidating Adjustments Total Cash flow from operating activities Net cash provided by (used in) operating activities $ — $ — $ — $ — $ — $ 16,664 $ — $ 16,664 Cash flows from investing activities Capital expenditures — — — — — (16,664 ) — (16,664 ) Net cash used in investing activities — — — — — (16,664 ) — (16,664 ) As Revised - Noble Corporation (Cayman) Noble- Cayman NHUS NDH NHIL NDS6 Other Non-guarantor Subsidiaries of Noble Consolidating Adjustments Total Cash flow from operating activities Net cash provided by (used in) operating activities $ 97,388 $ (150,735 ) $ 149,431 $ (344,112 ) $ (60 ) $ 1,421,023 $ — $ 1,172,935 Cash flows from investing activities Capital expenditures — — (492,985 ) — — (218,418 ) — (711,403 ) Net cash used in investing activities — — (492,985 ) — — (193,610 ) — (686,595 ) |