ZST Digital Networks, Inc.

ZSTN · OTC
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12/31/2010
12/31/2009
12/31/2008
12/31/2007
Operating Activities
Net Income$22,094$10,179$6,108$2,867
Dep. & Amort.$316$110$21$44
Deferred Tax-$685$0$0$0
Stock-Based Comp.$149$34$0$0
Change in WC-$3,419-$19,000-$2,909-$10,584
Other Non-Cash$149$31$82$70
Operating Cash Flow$18,455-$8,646$3,303-$7,603
Investing Activities
PP&E Inv.-$9,632-$887$0-$43
Net Acquisitions$0$0$0$0
Inv. Purchases$0$0$0$0
Inv. Sales/Matur.$0$0$0$0
Other Inv. Act.-$29-$235$0$1,078
Investing Cash Flow-$9,661-$1,123$0$1,035
Financing Activities
Debt Repay.$0-$3,931-$833$7,085
Stock Issued$0$25,769$0$0
Stock Repurch.-$198$0$0$0
Dividends Paid$0$0$0$0
Other Fin. Act.$0-$3,534$0-$856
Financing Cash Flow-$198$21,838-$3,457$6,229
Forex Effect$1,478$424$163$281
Net Chg. in Cash$10,074$12,493$9-$58
Supplemental Information
Beg. Cash$13,628$1,135$1,126$1,184
End Cash$23,702$13,628$1,135$1,126
Free Cash Flow$8,794-$9,769$3,303-$7,646