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NATURAL COOL HOLDINGS LIMITED
Annual Report 2011 48
Consolidated Statement of Cash Flows
For the year ended 31st December 2011
The accompanying notes form an integral part of these fnancial statements.
Group
Note 2011 2010
$ $
Financing activities
Computer software grant received 98,825 –
Dividends paid (3,272,054) –
Fixed deposits pledged 100,559 1,399,498
Interest paid (1,237,339) (2,596,261)
Non-trade amounts due to subsidiaries directors – (76,137)
Non-trade amounts due from related party (775) –
Payment of listing expenses (490,980) (1,365,655)
Proceeds from issue of shares from the exercise of
warrants of the Company 2,201,903 129,384
Proceeds from borrowings 1,629,718 5,352,600
Repayment of bank borrowings (3,470,777) (31,332,727)
Repayment of fnance lease liabilities (1,383,857) (1,449,110)
Security deposit paid – (6,482,715)
Cash fows used in fnancing activities (5,824,777) (36,421,123)
Net (decrease)/increase in cash and cash equivalents (15,613,974) 19,404,222
Effect of changes in foreign exchange rate 60,677 (78,914)
Cash and cash equivalents at beginning of year 25,348,352 6,023,044
Cash and cash equivalents at end of year 11 9,795,055 25,348,352
Signifcant non-cash transaction
In 2010, the Company issued 7,500,000 ordinary shares upon exercise of warrants by the warrant holder
as settlement of $1,500,000 loan owing to them.