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Statement of Cash Flows

Year ended December 31, 2009, with comparative figures for 2008 (in Thousands of Dollars)

2009 2008 NextGen

SD Tech Biofuels

Fund Fund Total Total

Cash provided by (used in):

Operating activities: Excess of revenue over

expenses $ –    $ –   $ –   $ –  Items not involving cash:

Amortization of capital assets 195 18 213 157 Amortization of deferred

contributions (57,001) (1,213) (58,214) (51,048) Investment fund management

fees paid (505) (63) (568) (511) Changes in non-cash operating

working capital items (173) 86 (87) (138) (57,484) (1,172) (58,656) (51,540)

Investing activities:

Purchase of capital assets (385) (156) (541) (101) Sales (purchase) of investments

- net 35,378 (6,789) 28,589 (3,606) Investment income 16,937 391 17,328 20,148 51,930 (6,554) 45,376 16,441

Financing activities:

Grant contribution –    –   –   63,031

Increase (decrease) in cash and

cash equivalents (5,554) (7,726) (13,280) 27,932

Cash and cash equivalents,

beginning of year 12,763 15,198 27,961 29

Cash and cash equivalents,

end of year $ 7,209 $ 7,472 $ 14,681 $ 27,961

The Foundation considers cash equivalents to be highly liquid investments with original maturities of three months or less, held by the Foundation to fund current operations.

See accompanying notes to financial statements.

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