Intermap Technologies Reports 2014 Fourth Quarter and Year-End Financial Results

 

INTERMAP TECHNOLOGIES CORPORATION

Consolidated Statements of Profit and Loss and Other Comprehensive Income

(In thousands of United States dollars, except per share information)





















(as restated)

For the years ended December 31,




2014



2013












Revenue




$

8,254



$

24,442












Expenses:











Operating costs





20,718




23,097


Depreciation of property and equipment





1,123




1,421


Amortization of data library





-




4,610


Impairment of data library





-




9,219


Amortization of intangible assets





103




119







21,944




38,466












Operating loss





(13,690)




(14,024)












Gain on disposal of equipment





456




163

Change in fair value of derivative instruments





2,035




1,817

Financing costs





(2,006)




(951)

Financing income





15




-

Gain (loss) on foreign currency translation





7




(506)

Loss before income taxes





(13,183)




(13,501)












Income tax (expense) recovery:











Current  





-




(28)


Deferred





383




-







383




(28)












Net loss for the period




$

(12,800)



$

(13,529)












Other comprehensive loss:











Foreign currency translation differences





(94)




(21)












Comprehensive loss for the period




$

(12,894)



$

(13,550)












Basic and diluted loss per share




$

(0.14)



$

(0.16)












Weighted average number of Class A common











shares - basic & diluted





91,707,540




84,566,288


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