INTERMAP TECHNOLOGIES CORPORATION

Consolidated Statements of Changes in Equity

(In thousands of United States dollars)

Share
Capital

Contributed
Surplus

Cumulative
Translation
Adjustments

Deficit

Total

Balance at January 1, 2013

$

189,263

$

10,222

58

$

(185,823)

$

13,720

Comprehensive loss for the period

-

-

(21)

(13,529)

(13,550)

Share-based compensation

81

449

-

-

530

Convertible note conversion

3,025

-

-

-

3,025

Conversion option of convertible note

1,974

-

-

-

1,974

Issuance costs

(6)

-

-

-

(6)

Balance at December 31, 2013

$

194,337

$

10,671

$

37

$

(199,352)

$

5,693

Comprehensive loss for the period

-

-

(94)

(12,800)

(12,894)

Share-based compensation

40

408

-

-

448

Conversion option of convertible note

-

704

-

-

704

Issuance costs

-

(5)

-

-

(5)

Deferred tax effect of convertible note

-

(383)

-

-

(383)

Balance at December 31, 2014

$

194,377

$

11,395

$

(57)

$

(212,152)

$

(6,437)