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<br />HUERFANO-CUCHARAS IRRIGATION COMPANY <br />STATEMENTS OF CASH FLOWS <br />FOR THE YEARS ENDED DECEMBER 31, 2009 AND 2008 <br /> <br /> <br /> <br />The accompanying notes to financial statements are an integral part of these statements. <br /> <br /> <br /> 2009 2008 <br />CASH FLOWS FROM OPERATING ACTIVITIES: <br />Net (loss) $(164,060) $(4,589) <br />Adjustments to reconcile net loss to net cash provided by operating activities: <br />Depreciation 3,100 2,583 <br />Impairments 14,017 - <br />Decrease in accounts receivable 8,881 897 <br />Decrease in other assets 32 61 <br />Increase in accounts payable 2,360 1,755 <br />CASH (USED) PROVIDED BY OPERATING ACTIVITIES (135,670) 707 <br /> <br />CASH FLOWS FROM INVESTING ACTIVITIES: <br />Dam construction (162,948) - <br />Purchase of Equipment - (21,700) <br />Proceeds from sale of investment - 1,541 <br />CASH USED IN INVESTING ACTIVITIES (162,948) (20,159) <br /> <br />CASH FLOWS FROM FINANCING ACTIVITES: <br />Advances from Two Rivers Water Company 295,762 - <br />CASH PROVIDED BY FINANCING ACTIVITIES 295,762 - <br /> <br />NET DECREASE IN CASH (2,856) (19,452) <br /> <br />CASH, Beginning of Year 34,253 53,705 <br /> <br />CASH, End of Year $31,397 $34,253 <br /> <br />Page 7