Attached files
Exhibit 99.3
| Previous June 2011 to Dec 2012 |
Current Aug 2011 to Dec 2012 |
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| Opening Cash |
$ | 41,822 | $ | 58,000 | ||||
| Manufacturing & Operating Expenses: |
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| Gross margin |
(1,775 | ) | — | |||||
| R&D |
(31,596 | ) | (21,346 | ) | ||||
| SG&A |
(34,145 | ) | (9,944 | ) | ||||
| Midland |
(2,800 | ) | (1,957 | ) | ||||
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| Net cash used in operating activities |
(70,316 | ) | (33,247 | ) | ||||
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| Non Operating Costs |
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| Severance payments |
(1,532 | ) | (3,930 | ) | ||||
| Other transition charges |
(4,063 | ) | (2,120 | ) | ||||
| Factory start up |
(13,528 | ) | ||||||
| Capex for wide wafer development |
(6,528 | ) | (4,000 | ) | ||||
| Capex for expansion |
(136,000 | ) | — | |||||
| Working capital and other |
42,963 | 4,500 | ||||||
| Cash Interest Payments |
(3,224 | ) | — | |||||
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| (121,913 | ) | (5,550 | ) | |||||
| Fund Raising |
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| Sale of LBIE claim & Devens assets (1) |
40,000 | 100,000 | ||||||
| Cash to Note holders |
— | (80,000 | ) | |||||
| U.S. Financing |
63,625 | — | ||||||
| China debt financing |
91,120 | — | ||||||
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| 194,745 | 20,000 | |||||||
| Fees & Other |
(8,000 | ) | (12,500 | ) | ||||
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| Ending Cash at December 31, 2012 |
$ | 36,338 | $ | 26,703 | ||||
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| Cash balance - August 31, 2012 |
$ | 33,591 | ||||||
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| (1) | Recent indications value LBIE in excess of $60 million |