CGEN » Topics » Net Cash Used in Investing Activities

This excerpt taken from the CGEN 20-F filed Feb 28, 2005.

Net Cash Used in Investing Activities

 

Net cash used in investing activities consists of purchase of marketable securities, proceeds from short-term and long-term bank deposits, purchases of property and equipment, and proceeds from redemption of marketable securities. Net cash provided by investing activities was approximately $5.8 million in 2002, approximately $4.9 million in 2003, and approximately $5.9 million in 2004. The increase in net cash provided by investing activities in 2004 is mainly attributable to the investment of approximately $8 million in marketable securities, and the proceeds from redemption of marketable securities, of approximately $15.6 million.

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Net Cash Provided by Financing Activities

 

Our net cash provided by financing activities was approximately $161,000 in 2002, approximately $3.3 million in 2003, and approximately $2.7 in 2004. The principal sources of cash provided by financing activities in 2002 and 2004 were derived from proceeds received from the issuance of ordinary shares as result of the exercise of stock options by employees. The increase in net cash provided by financing activates in 2003 is attributable to proceeds that we received from the issuance of ordinary shares as result of the exercise of stock options by employees, and from proceeds of approximately $2 million that our then-consolidated subsidiary, Evogene, raised through a convertible loan (See Note 1 of our 2004 Consolidated Financial Statements).

 

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