Intermap Reader Advisory
Certain information provided in this news release constitutes forward-looking statements, including the Company's profitability and revenue generating activities. The words "anticipate", "expect", "project", "estimate", "forecast" and similar expressions are intended to identify such forward-looking statements. Although Intermap believes that these statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily subject to a variety of known and unknown risks and uncertainties. You can find a discussion of such risks and uncertainties in our Annual Information Form and other securities filings. While the Company makes these forward-looking statements in good faith, should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that the Company will derive therefrom. All subsequent forward-looking statements, whether written or oral, attributable to Intermap or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. The forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements made herein, whether as a result of new information, future events or otherwise, except as may be required by applicable securities law.
INTERMAP TECHNOLOGIES CORPORATION
Consolidated Balance Sheets
UNAUDITED
(In thousands of United States dollars)
|
|
|
December 31, |
December 31, | ||
|
|
|
2017 |
2016 | ||
|
|
|
|
| ||
Assets |
|
|
| |||
|
|
|
|
| ||
Current assets: |
|
|
| |||
|
Cash |
|
$ |
6,363 |
$ |
6,527 |
|
Amounts receivable |
|
521 |
600 | ||
|
Unbilled revenue |
|
65 |
30 | ||
|
Prepaid expenses |
|
359 |
409 | ||
|
|
|
7,308 |
7,566 | ||
|
|
|
|
| ||
Property and equipment |
|
4,460 |
1,457 | |||
|
|
|
$ |
11,768 |
$ |
9,023 |
|
|
|
|
| ||
Liabilities and Shareholders' Deficiency |
|
|
| |||
|
|
|
|
| ||
Current liabilities: |
|
|
| |||
|
Accounts payable and accrued liabilities |
|
$ |
4,011 |
$ |
3,555 |
|
Current portion of notes payable |
|
- |
5,864 | ||
|
Current portion of project financing |
|
1,303 |
1,214 | ||
|
Current portion of deferred lease inducements |
|
30 |
24 | ||
|
Unearned revenue |
|
1,604 |
469 | ||
|
Warrant liability |
|
- |
137 | ||
|
Income taxes payable |
|
2 |
3 | ||
|
Obligations under finance leases |
|
10 |
49 | ||
|
Current portion of other long-term liabilities |
|
- |
100 | ||
|
|
|
6,960 |
11,415 | ||
|
|
|
|
| ||
Long-term notes payable |
|
26,496 |
21,837 | |||
Long-term project financing |
|
191 |
168 | |||
Deferred lease inducements |
|
120 |
133 | |||
Obligations under finance leases |
|
14 |
24 | |||
|
|
|
33,781 |
33,577 | ||
|
|
|
|
| ||
Shareholders' deficiency: |
|
|
| |||
|
Share capital |
|
199,634 |
196,686 | ||
|
Accumulated other comprehensive income |
|
(143) |
(146) | ||
|
Contributed surplus |
|
25,242 |
26,955 | ||
|
Deficit |
|
(246,746) |
(248,049) | ||
|
|
|
(22,013) |
(24,554) | ||
|
|
|
|
| ||
|
|
|
$ |
11,768 |
$ |
9,023 |