Innovative Card Technologies, Inc.

(NASDAQ:INVC)
  Sep 30, 2008 Jun 30, 2008 Mar 31, 2008 Dec 31, 2007
Assets
Current Assets
Cash & Equivalents 201 1,680 301 340
Restricted Cash — — — —
Marketable Securities — — — —
Accounts Receivable 671 824 237 13
Loans Receivable — — — —
Other Receivable — — — —
Receivables 671 824 237 13
Raw Materials 993 1,365 1,194 1,316
Work in Progress 2,561 1,755 1,369 886
Purchased Components — — — —
Finished Goods — — — —
Other Inventories — — — —
Inventories Adjustments and Allowances — — — —
Inventories 3,554 3,120 2,562 2,202
Prepaid Expenses 268 341 54 54
Current Deferred Income Taxes — — — —
Other Current Assets 361 869 575 606
Total Current Assets 5,055 6,835 3,729 3,215
Land and Improvements — — — —
Building and Improvements — — 6 6
Machinery Furniture and Equipment 407 420 406 406
Construction in Progress — — — —
Other Fixed Assets — — — —
Total Fixed Assets 407 420 412 412
Gross Fixed Assets 407 420 412 412
Accumulated Depreciation and Depletion 239 255 241 219
Net Fixed Assets 169 165 171 193
Intangibles 1,607 1,763 1,918 2,076
Cost in Excess — — — —
Non Current Deferred Income Taxes — — — —
Other Non Current Assets 567 597 411 178
Total Non Current Assets 2,343 2,525 2,500 2,447
Total Assets 7,397 9,360 6,229 5,662
Liabilities
Current Liabilities
Accounts Payable 2,221 2,479 2,637 4,317
Notes Payable — — — —
Short Term Debt — — — —
Accrued Expenses — — — —
Accrued Liabilities — — — —
Deferred Revenues 1,036 949 968 899
Current Deferred Income Tax Liabilities — — — —
Other Current Liabilities 165 109 41 28
Total Current Liabilities 3,422 3,536 3,646 5,244
Non Current Liabilities
Long Term Debt 2,784 2,490 581 —
Capital Lease Obligations — — — —
Deferred Income Tax Liabilities — 1,225 — —
Other Non Current Liabilities 221 1,063 1,339 —
Minority Interest Liabilities — — — —
Preferred Securities of Subsidiary Trust Liabilities — — — —
Preferred Equity Outside Stock Equity — — — —
Total Non Current Liabilities 6,427 8,314 5,566 5,244
Total Liabilities 3,006 4,777 1,920 —
Shareholders' Equity
Preferred Stock Equity — — — —
Common Stock Equity 970 1,046 663 418
Common Par 28 28 28 28
Additional Paid in Capital 33,334 31,848 30,664 28,457
Cumulative Translation Adjustment — — — —
Retained Earnings -32,392 -30,830 -30,030 -28,067
Treasury Stock — — — —
Other Equity Adjustments — — — —
Total Capitalization 3,754 3,536 1,244 418
Cash Flow -8,716 -11,203 -13,263 -13,554
Working Capital 1,633 3,299 83 -2,029
Free Cash Flow -8,161 -6,682 -3,249 -7,967
Invested Capital 3,754 3,536 1,244 418
Total Equity 970 1,046 663 418
Total Liabilities and Stock Equity 7,397 9,360 6,229 5,662