Intermap Technologies Reports 2016 First Quarter Financial Results

 

 

INTERMAP TECHNOLOGIES CORPORATION

Condensed Consolidated Interim Statements of Profit and Loss and Other Comprehensive Income

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




For the three months ended March 31,

2016

2015







Revenue 

$

1,438

$

956







Expenses:






Operating costs 


3,933


4,658


Depreciation of property and equipment


214


242


Amortization of intangible assets


-


13




4,147


4,913







Operating loss


(2,709)


(3,957)







Gain on disposal of equipment


-


47

Change in fair value of derivative instruments


128


29

Financing costs 


(6,624)


(1,120)

Financing income


5


4

(Loss) gain on foreign currency translation


(111)


138

Loss before income taxes


(9,311)


(4,859)







Income tax expense:






Current  


(4)


(20)


Deferred


-


-




(4)


(20)







Net loss for the period

$

(9,315)

$

(4,879)







Other comprehensive loss:











Items that are or may be reclassified subsequently to profit or loss:






Foreign currency translation differences                          


21


(57)







Comprehensive loss for the period

$

(9,294)

$

(4,936)







Basic and diluted loss per share

$

(0.09)

$

(0.05)







Weighted average number of Class A common






shares - basic & diluted

100,237,372

91,782,665


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