Analyze the companys investing and financing activities for the most recent year as identified in the statement of cash flows, specifically identifying the two largest investing activities and the two largest financing activities. Discuss whether you agree or disagree with the investing and financing strategies that your company appears to be employing and whether the companys cash flow is well-managed.

Operating activities Net loss (539) (78) (1,235) Adjustments to reconcile net loss to net cash flows Depreciation of property and equipment Amortization of intangible assets Share-based payments expense Finance income Finance costs Income tax (benefitVexpense Share in losses/(earnings) of associate 21 13 (455) 584 (95) (118) 974 (152) 336 Changes in working capital (112) 447 (60) 245 Increase in trade receivables and other assets 291 Increase in trade and other liabilities Increase in deferred revenue DecreaseVIncrease in provisions Interest received Income tax (received paid Net cash flows from operating activities Investing activities Purchases of property and equipment Purchases of short term investments Sales and matur ities of short term investment:s Change in restricted cash 18 344 179 101 (125) (1,069) (27) (1,397) 609 12 (36) (1,386) (34) (59) (435) (10) (44) (22) Net cash flows used in investing activities Financing activities Proceeds from issuance of Convertible Notes, net of costs Proceeds from exercise of share options Repurchases of ordinary shares (827) 861 163 (72) Net cash flows from financing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at January Net foreign exchange gains (losses) on cash and cash equivalents Cash and cash equivalents at December 31 Supplemental disclosure of cash flow informa tion Non-cash investing and financing activities 92 414 477 916 190 597 (222) 755 (56) 477 891 755 Issuance of shares for business combinations Purchases of property and equipment in trade and other payables Repurchases of ordinary shares in trade and other payables Issuance of shares upon exchange of Convertible Notes Issuance of shares in exchange for long term investment 1,145 910 The accompanying notes are an integral part of these consolidated financial statements