Intermap Technologies Reports 2016 Second 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 June 30,


 For the six months
 ended June 30,




2016


2015


2016


2015











Revenue 

$

864


$

719


$

2,302


$

1,675











Expenses:









Operating costs

4,114


4,839


8,047


9,497


Depreciation of property and equipment

205


244


419


486


Amortization of intangible assets

-


-


-


13




4,319


5,083


8,466


9,996











Operating loss

(3,455)


(4,364)


(6,164)


(8,321)











Gain on disposal of equipment

-


-


-


47

Change in fair value of derivative instruments

703


(3,672)


831


(3,643)

Financing costs 

(1,006)


(866)


(7,630)


(1,986)

Financing income

-


-


5


4

(Loss) gain on foreign currency translation

(19)


(114)


(130)


24

Loss before income taxes

(3,777)


(9,016)


(13,088)


(13,875)











Income tax expense:









Current  

(4)


-


(8)


(20)


Deferred

-


-


-


-




(4)


-


(8)


(20)











Net loss for the period

$

(3,781)


$

(9,016)


$

(13,096)


$

(13,895)











Other comprehensive loss:


















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







Foreign currency translation differences

(17)


25


4


(32)











Comprehensive loss for the period

$

(3,798)


$

(8,991)


$

(13,092)


$

(13,927)











Basic and diluted loss per share

$

(0.04)


$

(0.10)


$

(0.13)


$

(0.15)











Weighted average number of Class A common








shares - basic & fully diluted

100,335,233


92,952,350


100,429,225


92,370,739


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