Intermap Technologies Reports 2016 First Quarter Financial Results

 

 

INTERMAP TECHNOLOGIES CORPORATION

Condensed Consolidated Interim Statements of Cash Flows

(In thousands of United States dollars)








For the three months ended March 31,




2016


2015












Cash flows provided by:




















Operating activities:










Net loss for the period




$

(9,315)


$

(4,879)


Adjusted for the following non-cash items:











Depreciation of property and equipment





214



242



Amortization of intangible assets





-



13



Share-based compensation expense





173



110



Gain on disposal of equipment





-



(47)



Amortization of deferred lease inducements





(38)



(35)



Change in fair value of derivative instruments





(128)



(29)



Financing costs





6,624



1,120



Current income tax expense





4



20



Interest paid





(3)



(4)



Income tax paid





(6)



(9)


Changes in working capital:











Amounts receivable





973



416



Work in process and other assets





(25)



85



Accounts payable and accrued liabilities





1,015



149



Unearned revenue and deposits





(76)



(18)



Loss (gain) on foreign currency translation





(35)



425








(623)



(2,441)












Investing activities:










Purchase of property and equipment





(49)



(34)








(49)



(34)












Financing activities:










Proceeds from notes payable





-



2,000


Issuance costs of convertible notes and notes payable





-



(74)


Proceeds from reimbursable project funding





-



46


Decrease in restricted cash





710



-


Repayment of obligations under finance lease





(39)



(32)








671



1,940












Effect of foreign exchange on cash





1



(2)












Decrease in cash and cash equivalents





-



(537)












Cash and cash equivalents, beginning of period





-



537












Cash and cash equivalents, end of period




$

-


$

-


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