INTERMAP TECHNOLOGIES CORPORATION

Consolidated Statements of Profit and Loss and Other Comprehensive Income

(In thousands of United States dollars, except per share information)

(as restated)

For the years ended December 31,

2014

2013

Revenue

$

8,254

$

24,442

Expenses:

Operating costs

20,718

23,097

Depreciation of property and equipment

1,123

1,421

Amortization of data library

-

4,610

Impairment of data library

-

9,219

Amortization of intangible assets

103

119

21,944

38,466

Operating loss

(13,690)

(14,024)

Gain on disposal of equipment

456

163

Change in fair value of derivative instruments

2,035

1,817

Financing costs

(2,006)

(951)

Financing income

15

-

Gain (loss) on foreign currency translation

7

(506)

Loss before income taxes

(13,183)

(13,501)

Income tax (expense) recovery:

Current  

-

(28)

Deferred

383

-

383

(28)

$

(12,800)

$

(13,529)

Other comprehensive loss:

Foreign currency translation differences

(94)

(21)

Comprehensive loss for the period

$

(12,894)

$

(13,550)

Basic and diluted loss per share

$

(0.14)

$

(0.16)

Weighted average number of Class A common

shares - basic & diluted

91,707,540

84,566,288