Research Solutions, Inc.

RSSS

RSSSResearch Solutions, Inc. US flag

NASDAQ Capital Market

2.15

USD

-0.04

- -

71.91MMarket Cap

Income Statement (USD)

API Chat

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Sales/Revenue/Turnover	34	43	45	28	32	24	26	28	29	31	32	33	38	45	49
+ Sales & Services Revenue	34	43	45	28	32	24	26	28	29	31	32	33	38	45	49
- Cost of Revenue	30	35	36	23	26	18	20	21	20	21	21	21	23	25	25
+ Cost of Goods & Services	30	35	36	23	26	18	20	21	20	21	21	21	23	25	25
Gross Profit	4	8	10	5	6	6	6	7	8	10	10	12	15	20	24
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	9	12	10	6	7	7	9	9	10	10	11	14	15	20	22
+ Selling, General & Admin	8	11	9	6	6	7	8	7	7	8	8	10	11	14	15
+ Research & Development	- -	- -	- -	- -	- -	- -	1	2	2	2	3	4	4	5	6
+ Other Operating Expense	1	1	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1	1
Operating Income (Loss)	-5	-4	- -	-1	- -	-1	-3	-2	-1	-1	- -	-1	- -	-1	2
- Non-Operating (Income) Loss	- -	3	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	3	1
+ Interest Expense, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Interest Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	- -	2	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	3	1
Pretax Income	-5	-7	- -	-1	-1	-1	-3	-2	-1	-1	- -	-2	1	-4	1
- Income Tax Expense (Benefit)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	-5	-7	- -	-1	-1	-1	-3	-2	-1	-1	- -	-2	1	-4	1
- Net Extraordinary Losses (Gains)	- -	- -	- -	1	-1	-1	-1	- -	- -	- -	- -	- -	- -	- -	- -
+ Discontinued Operations	- -	- -	- -	-1	1	1	1	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	- -	- -	- -	2	-3	-2	-2	-1	- -	- -	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	-5	-7	- -	-2	1	- -	-2	-2	-1	-1	- -	-2	1	-4	1
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	-5	-7	- -	-2	1	- -	-2	-2	-1	-1	- -	-2	1	-4	1
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	-5	-7	- -	-2	1	- -	-2	-2	-1	-1	- -	-2	1	-4	1
EBIT	-5	-4	- -	-1	- -	-1	-3	-2	-1	-1	- -	-1	- -	-1	2
EBITDA	-5	-3	1	-1	- -	-1	-3	-2	-1	-1	- -	-1	- -	- -	4
EBITDA Margin (%)	-13.45	-6.09	1.11	-2.87	-0.69	-4.94	-11.2	-6.05	-3.74	-2.22	-0.74	-4.46	0.45	0.2	7.22
EBITA	-5	-4	- -	-1	- -	-1	-3	-2	-1	-1	- -	-1	- -	-1	2
Gross Margin (%)	11.66	18.78	20.99	19.15	19.36	23.39	23.71	26.23	28.98	31.03	32.39	36.5	38.99	44.01	49.32
Operating Margin (%)	-15.69	-9.66	-0.25	-3.65	-1.24	-5.32	-11.9	-6.99	-4.27	-2.68	-1	-4.52	0.31	-1.68	4.69
Profit Margin (%)	-16.14	-15.26	0.42	-6.55	2.43	-2.07	-8.91	-5.99	-3.33	-2.13	-0.9	-4.96	1.52	-8.49	2.58
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Depreciation Expense	1	2	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1	1
Basic Weighted Avg Shares	15	17	17	17	17	18	23	23	24	25	26	26	27	29	31
Basic EPS, GAAP	-0.36	-0.38	0.01	-0.11	0.04	-0.03	-0.1	-0.07	-0.04	-0.03	-0.01	-0.06	0.02	-0.13	0.04
Basic EPS from Cont Ops	-0.36	-0.38	0.01	-0.06	-0.03	-0.08	-0.13	-0.08	-0.05	-0.03	-0.01	-0.06	0.02	-0.13	0.04
Diluted Weighted Avg Shares	15	17	17	17	18	18	23	23	24	25	26	26	29	29	32
Diluted EPS, GAAP	-0.36	-0.38	0.01	-0.11	0.04	-0.03	-0.1	-0.07	-0.04	-0.03	-0.01	-0.06	0.02	-0.13	0.04
Diluted EPS from Cont Ops	-0.36	-0.38	0.01	-0.06	-0.03	-0.08	-0.13	-0.08	-0.05	-0.03	-0.01	-0.06	0.02	-0.13	0.04

Balance Sheet (USD)

API Chat

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Current Assets	12	10	8	8	7	12	12	10	10	15	17	17	21	15	20
+ Cash, Cash Equivalents & STI	3	3	2	2	1	6	6	5	5	9	11	11	14	6	12
+ Cash & Cash Equivalents	3	3	2	2	1	6	6	5	5	9	11	11	14	6	12
+ ST Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	7	6	5	4	5	6	5	4	4	4	5	5	6	7	7
+ Accounts Receivable, Net	7	6	5	4	5	6	5	4	4	4	5	5	6	7	7
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventories	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	2	1	1	2	- -	- -	1	- -	- -	1	1	1	2	2	1
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	5	2	1	1	- -	- -	1	- -	- -	- -	- -	- -	1	27	26
+ Property, Plant & Equip, Net	2	1	1	- -	- -	- -	1	- -	- -	- -	- -	- -	- -	- -	- -
+ Property, Plant & Equip	2	3	2	1	1	1	1	1	1	1	1	1	1	1	1
- Accumulated Depreciation	1	1	1	- -	1	1	1	1	1	1	1	1	1	1	1
+ LT Investments & Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	4	- -	- -	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	27	26
+ Total Intangible Assets	3	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	27	26
+ Goodwill	2	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	16	16
+ Other Intangible Assets	2	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	11	10
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	- -	- -	- -	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Assets	18	12	9	9	7	12	13	10	10	15	17	17	22	42	46
+ Payables & Accruals	7	10	8	6	6	6	6	5	5	6	7	7	8	9	7
+ Accounts Payable	7	10	8	9	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Accrued Taxes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	- -	- -	- -	-3	6	6	6	5	5	6	7	7	8	9	7
+ ST Debt	2	2	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Borrowings	1	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Finance Leases	1	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Liabilities	- -	- -	- -	3	- -	1	1	2	2	4	5	6	6	9	18
+ Deferred Revenue	- -	- -	- -	- -	- -	1	1	2	2	4	5	6	6	9	11
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	- -	- -	- -	3	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	7
Total Current Liabilities	10	12	8	9	6	6	8	6	7	10	11	12	15	18	26
+ LT Debt	1	1	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Borrowings	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Finance Leases	1	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Liabilities	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	12	7
+ Accrued Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	12	7
Total Noncurrent Liabilities	2	1	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	12	7
Total Liabilities	12	12	9	9	6	6	8	7	7	10	11	12	15	30	32
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	13	14	14	15	16	22	22	23	24	26	27	28	30	38	39
+ Common Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Additional Paid in Capital	13	14	14	15	16	22	22	23	24	26	27	28	30	38	39
- Treasury Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Retained Earnings	-8	-14	-14	-16	-15	-16	-18	-20	-21	-21	-21	-23	-23	-26	-25
+ Other Equity	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Equity Before Minority Interest	6	- -	- -	- -	1	6	4	3	3	5	5	5	7	12	14
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Equity	6	- -	- -	- -	1	6	4	3	3	5	5	5	7	12	14
Total Liabilities & Equity	18	12	9	9	7	12	13	10	10	15	17	17	22	42	46
Shares Outstanding	17	17	17	18	18	24	24	24	24	26	26	27	29	32	32
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	2	1	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt	-1	-2	-2	-2	-1	-6	-6	-5	-5	-9	-11	-11	-14	-6	-12
Net Debt to Equity	-21.79	470.37	-519.96	447.11	-123.91	-100.59	-132.9	-149.67	-176.57	-191.63	-202.77	-217.11	-184.78	-52.16	-87.79
Tangible Common Equity Ratio	16.68	-4.19	2.17	-5.28	15.5	48.39	34.37	32.92	29.11	32.8	32.08	28.68	32.14	-104.1	-60.47
Current Ratio	1.26	0.9	0.95	0.86	1.17	1.92	1.52	1.48	1.39	1.48	1.47	1.4	1.47	0.82	0.78
Cash Conversion Cycle	-6.36	-26.87	-38.64	-67.21	-8.51	82.75	79.58	63.29	55.42	52.55	52.68	55.24	55.2	53.3	52.35

Cash Flow Statement (USD)

API Chat

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
+ Net Income	-5	-7	- -	-1	1	- -	-2	-2	-1	-1	- -	-2	1	-4	1
+ Depreciation & Amortization	1	2	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1	1
+ Non-Cash Items	1	2	- -	- -	-1	1	- -	1	1	1	1	1	2	5	3
+ Stock-Based Compensation	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Income Taxes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Asset Impairment Charge	- -	3	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Cash Adj	1	- -	- -	- -	-1	1	- -	1	1	1	1	1	2	5	3
+ Chg in Non-Cash Work Cap	-2	5	-1	1	-1	- -	1	- -	1	2	1	- -	1	1	1
+ (Inc) Dec in Accts Receiv	- -	1	1	- -	-1	-1	- -	1	- -	- -	- -	-1	-1	- -	- -
+ (Inc) Dec in Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ (Inc) Dec in Prepaid Assets	-1	1	- -	- -	- -	- -	- -	1	- -	-1	- -	- -	- -	- -	1
+ Inc (Dec) in Accts Payable	-1	3	-2	1	- -	- -	1	-2	- -	1	- -	- -	1	1	-1
+ Inc (Dec) in Other	- -	- -	- -	- -	- -	- -	1	- -	1	1	1	1	1	1	2
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	-5	2	- -	- -	- -	- -	- -	-1	1	2	2	- -	3	4	7
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	3	- -	- -	- -	- -	5	- -	- -	- -	- -	- -	- -	- -	-1	-1
+ Increase in Capital Stock	3	- -	- -	- -	- -	5	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Decrease in Capital Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-1	-1
+ Net Change in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Dec in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Acq & Div	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-10	- -
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-10	- -
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-10	- -
+ Dividends Paid	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Debt	1	-2	-2	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash From Debt	1	- -	- -	- -	2	1	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Repayments of Debt	- -	-2	-2	- -	-2	-1	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Financing Activities	2	- -	- -	1	- -	- -	- -	- -	- -	2	- -	- -	- -	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	6	-1	-2	- -	- -	5	- -	- -	- -	2	- -	- -	- -	-1	-1
Effect of Foreign Exchange Rates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Changes in Cash	1	- -	-1	1	-1	5	- -	-1	- -	4	2	- -	3	-7	6
EBITDA	-5	-3	1	-1	- -	-1	-3	-2	-1	-1	- -	-1	- -	- -	4
EBITDA Margin (%)	-13.45	-6.09	1.11	-2.87	-0.69	-4.94	-11.2	-6.05	-3.74	-2.22	-0.74	-4.46	0.45	0.2	7.22
Free Cash Flow	-5	2	- -	- -	- -	- -	-1	-1	1	2	2	- -	3	3	7
Net Cash Paid for Acquisitions	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	10	- -
Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	3	- -	7
Free Cash Flow to Equity	-4	- -	-1	- -	- -	- -	- -	-1	1	2	2	- -	3	3	7
Free Cash Flow per Basic Share	-0.36	0.09	-0.01	0.02	-0.02	- -	-0.02	-0.03	0.02	0.1	0.07	-0.02	0.12	0.12	0.23
Price/Free Cash Flow	-9.97	9.6	1,163.08	37.81	-83.48	50.31	-63.35	-88.27	111.79	24.26	39.39	-126.12	17.33	20.32	12.84
Cash Flow to Net Income	0.94	-0.3	-0.5	-0.25	-0.43	-0.37	0.19	0.36	-0.6	-3.65	-6.55	0.26	5.92	-0.94	5.55
Capital Expenditures	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -