(U.S. Dollars in thousands)
| Three month period | ||||||||
| ended March 31, | ||||||||
|
2015
(Unaudited) |
2014
(Unaudited) |
|||||||
| Cash flows from operating activities: | ||||||||
| Loss for the period | $ | (5,202) | $ | (3,634) | ||||
| Adjustments: | ||||||||
| Depreciation and amortization | $ | 124 | $ | 161 | ||||
| Finance (income) expenses, net | $ | (32) | $ | 72 | ||||
| Share-based payment | $ | 758 | $ | 353 | ||||
| Income tax expense | $ | 29 | $ | 40 | ||||
| $ | 879 | $ | 626 | |||||
| Change in inventory | $ | (97) | $ | (234) | ||||
| Change in trade and other accounts receivable | $ | 615 | $ | (1,663) | ||||
| Change in prepaid lease fees | $ | 2 | $ | (5) | ||||
| Change in trade and other accounts payable | $ | (310) | $ | (446) | ||||
| Change in employee benefits | $ | (5) | $ | 25 | ||||
| $ | 205 | $ | (2,323) | |||||
| Interest received | $ | 12 | $ | 2 | ||||
| Income tax paid | $ | (108) | $ | (11) | ||||
| $ | (96) | $ | (9) | |||||
| Net cash used in operating activities | $ | (4,214) | $ | (5,340) | ||||
| Cash flows from investing activities: | ||||||||
| Proceeds from (investments in) short-term investments, net | $ | 1,998 | $ | (1,752) | ||||
| Purchase of property and equipment | $ | (43) | $ | (124) | ||||
| Net cash provided by (used in) investing activities | $ | 1,955 | $ | (1,876) | ||||
| Cash flows from financing activities: | ||||||||
| Issuance expenses | $ | - | $ | (294) | ||||
| Proceeds from exercise of share options by employees | $ | 183 | $ | 2,384 | ||||
| Repayment of loans to the Chief Scientist | $ | - | $ | (324) | ||||
| Net cash provided by financing activities | $ | 183 | $ | 1,766 | ||||
| Net decrease in cash and cash equivalents | $ | (2,076) | $ | (5,450) | ||||
| Cash and cash equivalents at the beginning of the period | $ | 22,255 | $ | 19,803 | ||||
| Effect of exchange rate differences on balances of | ||||||||
| cash and cash equivalents | $ | (95) | $ | (28) | ||||
| Cash and cash equivalents at the end of the period | $ | 20,084 | $ | 14,325 | ||||
Mazor Robotics Ltd.
