Hoku Scientific, Inc.

(NASDAQ:HOKU)

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Quarterly Data
Annual Data
Note: All numbers in thousands

	Sep 30, 2008	Jun 30, 2008	Mar 31, 2008	Dec 31, 2007
Assets
Current Assets
Cash & Equivalents	13,837	5,255	27,768	16,882
Restricted Cash	—	—	—	—
Marketable Securities	—	2,993	1,992	2,010
Accounts Receivable	622	944	113	1,410
Loans Receivable	—	—	—	—
Other Receivable	—	—	—	—
Receivables	622	944	113	1,410
Raw Materials	—	—	—	—
Work in Progress	—	—	—	—
Purchased Components	—	—	—	—
Finished Goods	—	—	—	—
Other Inventories	1,285	1,669	803	908
Inventories Adjustments and Allowances	—	—	—	—
Inventories	1,285	1,669	803	908
Prepaid Expenses	—	—	—	—
Current Deferred Income Taxes	—	—	—	—
Other Current Assets	6,793	7,555	3,870	214
Total Current Assets	22,537	18,416	34,546	21,424
Land and Improvements	—	—	1,366	1,366
Building and Improvements	—	—	3,830	3,830
Machinery Furniture and Equipment	320	293	293	346
Construction in Progress	88,735	57,641	28,515	17,600
Other Fixed Assets	—	—	—	—
Total Fixed Assets	89,055	57,934	34,004	23,142
Gross Fixed Assets	89,055	57,934	34,004	23,142
Accumulated Depreciation and Depletion	211	200	441	427
Net Fixed Assets	88,844	57,734	33,563	22,715
Intangibles	—	—	—	—
Cost in Excess	—	—	—	—
Non Current Deferred Income Taxes	—	—	—	—
Other Non Current Assets	—	—	—	—
Total Non Current Assets	88,844	57,734	33,563	22,715
Total Assets	111,381	76,150	68,109	44,139
Liabilities
Current Liabilities
Accounts Payable	6,680	8,705	3,258	1,442
Notes Payable	3,380	—	—	—
Short Term Debt	—	—	—	—
Accrued Expenses	—	—	—	—
Accrued Liabilities	—	—	—	—
Deferred Revenues	12	24	36	355
Current Deferred Income Tax Liabilities	—	—	—	—
Other Current Liabilities	1,430	4,751	5,820	793
Total Current Liabilities	11,502	13,480	9,114	2,590
Non Current Liabilities
Long Term Debt	—	13,000	13,000	—
Capital Lease Obligations	—	—	—	—
Deferred Income Tax Liabilities	—	—	—	—
Other Non Current Liabilities	48,000	—	—	17,000
Minority Interest Liabilities	—	—	—	—
Preferred Securities of Subsidiary Trust Liabilities	—	—	—	—
Preferred Equity Outside Stock Equity	—	—	—	—
Total Non Current Liabilities	59,502	26,480	22,114	19,590
Total Liabilities	48,000	13,000	13,000	17,000
Shareholders' Equity
Preferred Stock Equity	—	—	—	—
Common Stock Equity	51,879	49,670	45,995	24,549
Common Par	22	20	20	17
Additional Paid in Capital	65,259	61,679	58,182	34,639
Cumulative Translation Adjustment	—	—	—	—
Retained Earnings	-13,402	-12,209	-12,207	-10,108
Treasury Stock	—	—	—	—
Other Equity Adjustments	—	—	—	1
Total Capitalization	51,879	62,670	58,995	24,549
Cash Flow	-3,710	-3,347	-4,150	-4,166
Working Capital	11,035	4,936	25,432	18,834
Free Cash Flow	-61,568	-25,134	-28,693	-16,190
Invested Capital	51,879	62,670	58,995	24,549
Total Equity	51,879	49,670	45,995	24,549
Total Liabilities and Stock Equity	111,381	76,150	68,109	44,139

	Mar 31, 2008	Mar 31, 2007	Mar 31, 2006	Mar 31, 2005
Assets
Current Assets
Cash & Equivalents	27,768	2,567	166	2,552
Restricted Cash	—	—	—	—
Marketable Securities	1,992	17,389	22,522	1,607
Accounts Receivable	113	377	250	3,572
Loans Receivable	—	—	—	—
Other Receivable	—	—	2,029	261
Receivables	113	377	2,279	3,833
Raw Materials	—	—	—	61
Work in Progress	—	—	—	—
Purchased Components	—	—	—	—
Finished Goods	—	—	—	—
Other Inventories	803	2,385	182	—
Inventories Adjustments and Allowances	—	—	—	—
Inventories	803	2,385	182	61
Prepaid Expenses	—	—	—	—
Current Deferred Income Taxes	—	—	—	—
Other Current Assets	3,870	1,309	578	180
Total Current Assets	34,546	24,027	25,727	8,233
Land and Improvements	1,366	1,366	1,366	1,366
Building and Improvements	3,830	3,830	3,830	454
Machinery Furniture and Equipment	293	283	1,442	670
Construction in Progress	28,515	544	—	—
Other Fixed Assets	—	70	—	—
Total Fixed Assets	34,004	6,093	6,638	2,490
Gross Fixed Assets	34,004	6,093	6,638	2,490
Accumulated Depreciation and Depletion	441	298	283	272
Net Fixed Assets	33,563	5,795	6,355	2,218
Intangibles	—	—	—	—
Cost in Excess	—	—	—	—
Non Current Deferred Income Taxes	—	—	—	—
Other Non Current Assets	—	803	1	331
Total Non Current Assets	33,563	6,598	6,356	2,549
Total Assets	68,109	30,625	32,083	10,782
Liabilities
Current Liabilities
Accounts Payable	3,258	653	495	17
Notes Payable	—	—	—	—
Short Term Debt	—	—	—	9
Accrued Expenses	—	—	—	263
Accrued Liabilities	—	—	—	—
Deferred Revenues	36	990	3,989	4,244
Current Deferred Income Tax Liabilities	—	—	—	—
Other Current Liabilities	5,820	1,488	207	12
Total Current Liabilities	9,114	3,131	4,691	4,545
Non Current Liabilities
Long Term Debt	13,000	—	—	—
Capital Lease Obligations	—	—	—	5
Deferred Income Tax Liabilities	—	—	—	—
Other Non Current Liabilities	—	2,000	—	—
Minority Interest Liabilities	—	—	—	—
Preferred Securities of Subsidiary Trust Liabilities	—	—	—	—
Preferred Equity Outside Stock Equity	—	—	—	—
Total Non Current Liabilities	22,114	5,131	4,691	4,550
Total Liabilities	13,000	2,000	—	5
Shareholders' Equity
Preferred Stock Equity	—	—	—	7,820
Common Stock Equity	45,995	25,494	27,392	-1,588
Common Par	20	17	16	6
Additional Paid in Capital	58,182	33,396	32,555	4,959
Cumulative Translation Adjustment	—	—	—	—
Retained Earnings	-12,207	-7,914	-5,162	-6,506
Treasury Stock	—	—	—	—
Other Equity Adjustments	—	-5	-17	-47
Total Capitalization	58,995	25,494	27,392	6,232
Cash Flow	-4,150	-2,531	1,565	-543
Working Capital	25,432	20,896	21,036	3,688
Free Cash Flow	-28,693	-2,758	-146	-1,561
Invested Capital	58,995	25,494	27,392	6,237
Total Equity	45,995	25,494	27,392	6,232
Total Liabilities and Stock Equity	68,109	30,625	32,083	10,782