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<br />LINK CONSTRUCTION GROUP, INC. <br /> <br />STATEMENT OF CASH FLOWS <br /> <br />SIX MONTHS ENDED JUNE 30, 2008 <br /> <br />Cash flows from operating activities: <br />Net income <br />Adjustments to reconcile net income to net cash from <br />operating activities: <br />Depreciation and amortization <br />Bad debt provision <br />Change in assets and liabilities: <br />Contracts receivable <br />Costs and estimated emnings in excess of billings <br />on uncompleted contracts <br />Other receivables <br />Prepaid expenses <br />Accounts payable and accrued liabilities <br />Billings in excess of costs and estimated earnings <br />on uncompleted contracts <br /> <br />Net cash used for operating activities <br /> <br />Cash flows from investing activities: <br />Purchase of property and equipment <br />Advances to joint venture <br /> <br />Net cash used for investing activities <br /> <br />Cash flows from fmancing activities: <br />Proceeds from short-term debt <br />Payments on short-term debt <br />Payments on long-term debt <br />Distributions to stockholders <br /> <br />Net cash used for financing activities <br />Net decrease in cash and cash equivalents <br />Cash and cash equivalents, January 1,2008 <br />Cash and cash equivalents, June 30, 2008 <br /> <br />~ <br /> <br />See accompanying notes to the financial statements <br />and accountant's review report. <br />-5- <br /> <br />, <br />~W <br /> <br />$ 941,497 <br /> 20,964 <br /> 75,000 <br /> 1,226,159 <br /> 48,102 <br /> (4,077) <br /> 115,878 <br /> (1,347,071) <br /> (1.398.605) <br /> (322.153 ) <br /> (27.231) <br /> (11.000) <br /> (38,231) <br /> 50,000 <br /> (50.000) <br /> (15,053 ) <br /> (620.377) <br /> (635.430) <br /> (995,814) <br /> 3,263.308 <br />$ 2.267.494 <br />