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SEC Filings
10-Q
ARGON ST, INC. filed this Form 10-Q on 12/13/1995
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                DAEDALUS ENTERPRISES, INC. AND SUBSIDIARIES
             CONSOLIDATED STATEMENT OF CASH FLOWS - UNAUDITED

                                             Increase (Decrease) in Cash
                                                    Three Months Ended
                                                       October 31, 
                                                  1995           1994 
                                             -------------   ------------
Operating Activities  
  Net loss................................    $ (280,642)    $ (296,639) 
  Adjustments to reconcile net income to
    net cash used in opearting activities
      Depreciation........................        46,919         38,364 
      Amortization of software............        17,997         24,198 
      Increase in deferred tax asset......       (17,000)      (151,000)
      Decrease in accounts receivable.....       589,946        194,605 
      Increase in inventory...............       (20,659)       (38,546) 
      Decrease (increase) in other assets.       132,626         (1,206) 
      Decrease in accounts payable and
        accrued expenses..................      (161,055)       (56,253) 
      Decrease in customer deposits.......        (9,652)      (108,842) 
                                                ---------      --------- 
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES  298,480       (395,319) 
                                                ---------      ---------
Investing Activities  
  Purchase of property and equipment.......      (15,385)       (52,482)
                                                ---------      --------- 
          CASH (USED IN) INVESTING ACTIVITIES    (15,385)       (52,482) 
                                                ---------      ---------
Financing Activities  
  Proceeds from revolving line of credit....     610,000        631,000 
  Payments on revolving line of credit......    (847,000)      (255,000) 
  Payments on long-term debt................      (8,385)        (8,474) 
  Proceeds of stock issued pursuant to
    stock option and stock purchase plan....       2,001          1,714
                                                ---------      ---------
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES (243,384)       369,240 
                                                ---------      ---------
Increase (Decrease) in Cash.................      39,711        (78,561)
Cash and Cash Equivalents at Beginning
  of Year...................................      76,797        163,158
                                                ---------      --------
CASH AND CASH EQUIVALENTS AT END OF QUARTER     $116,508       $ 84,597
                                                =========      ========

The accompanying notes are an integral part of these condensed financial
statements


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