Einstein Bros 2003 Annual Report Download - page 40

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http://www.sec.gov/Archives/edgar/data/949373/000104746904009609/a2132006z10-k.htm[9/11/2014 10:13:55 AM]
Comprehensive loss (67,708)
Conversion of Mandatorily Redeemable Series F
preferred stock to common stock 9,380,843 9 84,704 84,713
Conversion of common stock and warrants to
Mandatorily Redeemable Series Z preferred stock (386,428) (762) (762)
Issuance of warrants in connection with Mandatorily
Redeemable Series F preferred stock—
reclassification from derivative liability 318 318
Issuance of warrants in connection with
$140 Million Facility—reclassification from
derivative liability 573 573
Issuance of warrants in connections with the
Standstill Agreement 3,132 3,132
Issuance of warrants in connection with the
settlement of the Greenlight Obligation 963 963
Dividends and accretion on preferred stock (14,423) (14,423)
Balance, December 30, 2003 9,841,828 $ 10 $ 175,585 $ (257,461) $ — $ (81,866)
The accompanying notes are an integral part of these consolidated financial statements.
F-5
NEW WORLD RESTAURANT GROUP, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 30, 2003, DECEMBER 31, 2002, AND JANUARY 1, 2002
(in thousands)
December 30, 2003
December 31, 2002
January 1, 2002
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss $ (67,708) $ (40,473) $ (18,700)
Adjustments to reconcile net loss to net cash provided by (used in) operating
activities:
Depreciation and amortization 28,200 30,626 15,207
Charges for integration and reorganization 2,132 4,194 4,432
Impairment in value of intangible assets 5,292 — —
Permanent impairment in value of investment in debt securities — — 5,805
Cumulative change in fair value of derivatives (993) (233) (57,680)
Loss from extinguishment of Greenlight obligation — — 16,641
Amortization of debt issuance costs 1,222 1,723 5,014
Amortization of debt discount 1,916 8,882 25,300
Notes issued as paid in kind for interest on Bridge Loan 395 3,526 2,627
Greenlight Interest 1,025 1,784 —
Standstill and step-up warrants 3,132 — —
Stock issued for compensation and consulting — 117 2,636
Gain on sale of fixed assets (558) — (59)
Gain on investment in debt securities (374) (2,537) (241)
Impairment charge in connection with the realization of assets — — 3,259
Loss on exchange of Series F Preferred Stock due to Equity Recap 23,007 — —
Reduction in Bridge loan due to Equity Recap (500) — —
Changes in operating assets and liabilities:
Restricted Cash (worker's compensation insurance and adfund) (2,397) — —
Franchise and other receivables 127 4,033 (4,354)
Accounts payable and accrued expenses 8,516 (14,272) 5,851
Other assets and liabilities (419) (4,040) 2,017
Net cash provided by (used in) operating activities 2,015 (6,670) 7,755
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment (6,921) (5,172) (3,757)
Proceeds from the sale of assets 558 — —
Proceeds from the sale of assets held for sale — 1,397 880
Net cash paid for acquisitions — — (161,491)
Investment in debt securities — — (29,734)
Proceeds from investment in debt securities 374 36,711 3,885
Net cash provided by (used in) investing activities (5,989) 32,936 (190,217)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from line of credit 7,500 6,000 —
Repayments of line of credit (12,500) — —