8x8 2002 Annual Report Download - page 47

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--------- --------- ---------
Cash flows from financing activities:
Proceeds from issuance of convertible subordinated
debentures............................................... -- -- 7,500
Debt issuance costs........................................ -- -- (617)
Debt repayments............................................ (4,581) (891) --
Proceeds from issuance of common stock, net................ 335 2,763 29,763
Repayment of notes receivable from stockholders............ -- 60 240
Repurchase of common stock and Exchangeable Shares......... -- (514) (76)
--------- --------- ---------
Net cash (used in) provided by financing activities. (4,246) 1,418 36,810
--------- --------- ---------
Net increase (decrease) in cash and cash equivalents......... (11,704) (24,450) 32,766
Cash and cash equivalents, beginning of year................. 24,126 48,576 15,810
--------- --------- ---------
Cash and cash equivalents, end of year....................... $ 12,422 $ 24,126 $ 48,576
========= ========= =========
Supplemental and non-cash disclosures:
Income taxes paid.......................................... $ 12 $ 25 $ 34
========= ========= =========
Interest paid.............................................. $ 204 $ 308 $ --
========= ========= =========
Common stock issued to satisfy interest obligations........ $ 97 $ -- $ --
========= ========= =========
Issuance of shares and repricing of warrants in
connection with the debt extinguishment................. $ 1,109 $ -- $ --
========= ========= =========
Issuance of shares and assumption of options in
connection with the acquisition of U|Force.............. $ -- $ 44,586 $ --
========= ========= =========
Public stock received in exchange for
furniture and equipment................................. $ -- $ 412 $ --
========= ========= =========
Issuance of shares in connection with the acquisition
of Odisei............................................... $ -- $ -- $ 13,267
========= ========= =========
The accompanying notes are an integral part of these consolidated financial statements.
8X8, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
NOTE 1 -- THE COMPANY AND ITS SIGNIFICANT ACCOUNTING POLICIES
THE COMPANY
8x8, Inc., or 8x8, and its subsidiaries (collectively, the Company) develop and market communication technology for