Print Page  Close Window

SEC Filings

S-4/A
AVALON CABLE OF MICHIGAN INC/ filed this Form S-4/A on 05/28/1999
Entire Document
 
<PAGE>

                AVALON CABLE OF MICHIGAN, INC. AND SUBSIDIARIES

                      CONSOLIDATED STATEMENT OF CASH FLOWS

     For the Period from June 2, 1998 (inception) through December 31, 1998
                                 (in thousands)


<TABLE>
<S>                                                                   <C>
Cash flows from operating activities:
  Net (loss)......................................................... $ (5,121)
  Extraordinary loss on extinguishment of debt.......................    1,460
  Depreciation and amortization......................................    6,554
  Deferred income taxes, net.........................................   (8,234)
  Provision for loss on accounts receivable..........................       75
  Increase (decrease) in minority interest...........................      398
  Net change in certain assets and liabilities, net of business
   acquisitions......................................................
    Increase in accounts receivable..................................     (832)
    Increase in prepayment and other current assets..................     (446)
    Increase in accounts payable and accrued expenses................    3,834
    Increase in deferred revenue.....................................      967
                                                                      --------
      Net cash used by operating activities..........................   (1,345)
                                                                      --------
Cash flows from investing activities:
  Additions to property, plant and equipment.........................   (4,673)
  Payment for acquisition............................................ (431,629)
                                                                      --------
    Net cash used in investing activities............................ (436,302)
                                                                      --------
Cash flows from Financing Activities:
  Proceeds from the issuance of the Credit Facility..................  265,888
  Principal payment on debt.......................................... (125,013)
  Proceeds from the issuance of senior subordinated notes............  150,000
  Proceeds from the issuance of note payable affiliate...............   33,200
  Payments made on note payable--affiliate...........................  (18,037)
  Payments made for debt financing costs.............................   (3,995)
  Proceeds from the issuance of common stock.........................  137,375
                                                                      --------
    Net cash provided by financing activities........................  439,418
                                                                      --------
Net increase in cash.................................................    1,771
Cash at beginning of the period......................................    7,300
                                                                      --------
    Cash at end of the period........................................ $  9,071
                                                                      --------
Supplemental disclosures of cash flow information
Cash paid during the year for
  Interest........................................................... $  2,639
  Income taxes.......................................................      --
</TABLE>


    The accompanying notes are an integral part of these consolidated financial
                                  statements.

                                     F-113