INTERMAP TECHNOLOGIES CORPORATION
Condensed Consolidated Interim Statements of Cash Flows
(In thousands of United States dollars)
(as restated) |
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For the three months ended March 31, |
2015 |
2014 |
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Cash flows provided by: |
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Operating activities: |
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Net loss for the period |
$ (4,879) |
$ (2,335) |
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Adjusted for the following non-cash items: |
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Depreciation of property and equipment |
242 |
292 |
|||
Amortization of intangible assets |
13 |
29 |
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Share-based compensation expense |
110 |
82 |
|||
Gain on disposal of equipment |
(47) |
(362) |
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Amortization of deferred lease inducements |
(35) |
(47) |
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Deferred taxes |
- |
(318) |
|||
Change in fair value of derivative instruments |
(29) |
(1,229) |
|||
Financing costs |
1,120 |
189 |
|||
Current income tax expense |
20 |
- |
|||
Interest paid |
(4) |
(7) |
|||
Income tax paid |
(9) |
(10) |
|||
Changes in working capital: |
|||||
Amounts receivable |
416 |
2,409 |
|||
Work in process and other assets |
85 |
(239) |
|||
Accounts payable |
648 |
(51) |
|||
Accrued liabilities |
(499) |
(20) |
|||
Unearned revenue and deposits |
(18) |
45 |
|||
Gain on foreign currency translation |
425 |
(3) |
|||
(2,441) |
(1,575) |
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Investing activities: |
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Purchase of property and equipment |
(34) |
(147) |
|||
Proceeds from sale of equipment |
- |
132 |
|||
(34) |
(15) |
||||
Financing activities: |
|||||
Proceeds from notes payable |
7,800 |
5,000 |
|||
Financing costs of notes payable |
(74) |
(93) |
|||
Proceeds from reimbursable project funding |
46 |
- |
|||
Repayment of obligations under finance lease |
(32) |
(28) |
|||
Repayment of long-term debt and notes payable |
(5,800) |
(38) |
|||
1,940 |
4,841 |
||||
Effect of foreign exchange on cash |
(2) |
- |
|||
(Decrease) increase in cash and cash equivalents |
(537) |
3,251 |
|||
Cash and cash equivalents, beginning of period |
537 |
2,420 |
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Cash and cash equivalents, end of period |
$ - |
$ 5,671 |