Exhibit 99.1 (b) 5
ARCLIGHT SYSTEMS LLC
Statements of Cash Flows
Year ended December 31, 2002 and Period from April 1, 2001
(date of inception of operations) to December 31, 2001
2002 | 2001 | |||||||
Cash flows from operating activities: | ||||||||
Net income (loss) | $ | 55,537,075 | $ | (5,802,593 | ) | |||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||
Net income from discontinued operations | (78,862,837 | ) | (3,272,883 | ) | ||||
Depreciation | 1,403,794 | 728,570 | ||||||
Amortization of intangible assets | 3,256,305 | 985,161 | ||||||
Amortization of capitalized software | 401,294 | 10,325 | ||||||
Net loss from disposal of assets | 550,682 | — | ||||||
Non-cash data costs | 77,261 | — | ||||||
Changes in assets and liabilities: | ||||||||
Accounts receivable | 11,901 | (612,951 | ) | |||||
Prepaid expenses and other assets | (536,347 | ) | 66,140 | |||||
Accounts payable | 164,852 | 162,673 | ||||||
Payable to Cardinal Health | (658,305 | ) | 934,643 | |||||
Other assets and liabilities, net of investing activity related accruals | 2,759,431 | 1,120,669 | ||||||
Net cash used in continuing operations | (15,894,894 | ) | (5,680,246 | ) | ||||
Net cash provided by discontinued operations | 1,219,419 | 3,181,294 | ||||||
Net cash used in operating activities | (14,675,475 | ) | (2,498,952 | ) | ||||
Cash flows from investing activities: | ||||||||
Net proceeds from sale of ScriptLINE business | 77,950,455 | — | ||||||
Purchases of property and equipment | (1,049,434 | ) | (1,398,167 | ) | ||||
Capitalized software | (1,500,307 | ) | (165,531 | ) | ||||
Net cash provided by (used in) investing activities | 75,400,714 | (1,563,698 | ) | |||||
Cash flows from financing activities: | ||||||||
Proceeds from issuance of note payable to related parties | 4,000,000 | 5,000,000 | ||||||
Repayments of notes payable to related parties | (9,000,000 | ) | — | |||||
Distributions | (450,000 | ) | — | |||||
Net cash provided by (used in) financing activities | (5,450,000 | ) | 5,000,000 | |||||
Net increase in cash and cash equivalents | 55,275,239 | 937,350 | ||||||
Cash and cash equivalents at beginning of period | 937,350 | — | ||||||
Cash and cash equivalents at end of period | $ | 56,212,589 | $ | 937,350 | ||||
Supplemental disclosure of cash flow information: | ||||||||
Interest paid | $ | 114,045 | $ | 63,195 | ||||
Noncash financing activities: | ||||||||
Intangible assets received through the issuance of Class B and C units | $ | 3,542,285 | $ | 14,514,512 | ||||
See accompanying notes to financial statements.