01 02 03 Financial Statements 04 Separate Statement of Cash Flows For the year ended 31 December (thousands of Georgian Lari unless otherwise stated) 31 December 31 December Notes 2018 2017 Cash flows used in operating activities Salaries and other employee benefits paid (1,958) (1,980) General and administrative expenses paid (2,541) (2,359) Other operating expenses paid (14) (1,235) Net cash flows used in operating activities (4,513) (5,574) Cash flows used in investing activities Proceeds from amounts due from credit institutions – 13,863 Net cash used in investing activities – 13,863 Cash flows from financing activities Repayment of borrowings – (5,689) Net cash flows from financing activities – (5,689) Effect of exchange rates changes on cash and cash equivalents (65) (160) Net increase/(decrease) in cash and cash equivalents (4,578) 2,440 Cash and cash equivalents, beginning 7 7,619 5,179 Cash and cash equivalents, end 7 3,041 7,619 The accompanying notes on pages 128 to 175 form an integral part of these consolidated Financial Statements. 123