INTERMAP TECHNOLOGIES CORPORATION
Condensed Consolidated Interim Statements of Cash Flows
(In thousands of United States dollars)
(as restated) |
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For the six months ended June 30, |
2015 |
2014 |
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Cash flows provided by: |
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Operating activities: |
|||||||
Net loss for the period |
$ |
(13,895) |
$ |
(5,717) |
|||
Adjusted for the following non-cash items: |
|||||||
Depreciation of property and equipment |
486 |
587 |
|||||
Amortization of intangible assets |
13 |
59 |
|||||
Share-based compensation expense |
539 |
233 |
|||||
Gain on disposal of equipment |
(47) |
(413) |
|||||
Amortization of deferred lease inducements |
(70) |
(42) |
|||||
Deferred taxes |
- |
(318) |
|||||
Change in fair value of derivative instruments |
3,643 |
(1,405) |
|||||
Financing costs |
1,986 |
510 |
|||||
Current income tax expense |
20 |
- |
|||||
Interest paid |
(11) |
(12) |
|||||
Income tax paid |
(14) |
(5) |
|||||
Changes in working capital: |
|||||||
Amounts receivable |
733 |
3,764 |
|||||
Work in process and other assets |
(61) |
(49) |
|||||
Accounts payable |
301 |
(447) |
|||||
Accrued liabilities |
(178) |
(9) |
|||||
Unearned revenue and deposits |
297 |
12 |
|||||
Gain on foreign currency translation |
783 |
(1) |
|||||
(5,475) |
(3,253) |
||||||
Investing activities: |
|||||||
Purchase of property and equipment |
(34) |
(437) |
|||||
Proceeds from sale of equipment |
- |
353 |
|||||
(34) |
(84) |
||||||
Financing activities: |
|||||||
Proceeds from notes payable |
11,800 |
5,000 |
|||||
Financing costs of notes payable |
(94) |
(93) |
|||||
Proceeds from reimbursable project funding |
93 |
44 |
|||||
Proceeds from exercise of warrants |
97 |
- |
|||||
Movement to restricted cash |
(69) |
- |
|||||
Repayment of obligations under finance lease |
(64) |
(57) |
|||||
Repayment of long-term debt and notes payable |
(6,300) |
(65) |
|||||
5,463 |
4,829 |
||||||
Effect of foreign exchange on cash |
(2) |
8 |
|||||
Increase in cash and cash equivalents |
(48) |
1,500 |
|||||
Cash and cash equivalents, beginning of period |
537 |
2,420 |
|||||
Cash and cash equivalents, end of period |
$ |
489 |
$ |
3,920 |