Intermap Technologies Reports 2016 Second Quarter Financial Results

 

INTERMAP TECHNOLOGIES CORPORATION
Condensed Consolidated Interim Statements of Cash Flows
(In thousands of United States dollars)

For the six months ended June 30,

2016


2015







Cash flows provided by:










Operating activities:





Net loss for the period

$

(13,096)


$

(13,895)


Adjusted for the following non-cash items:






Depreciation of property and equipment

419


486



Amortization of intangible assets

-


13



Share-based compensation expense

192


539



Gain on disposal of equipment

-


(47)



Amortization of deferred lease inducements

(76)


(70)



Change in fair value of derivative instruments

(831)


3,643



Financing costs

7,630


1,986



Current income tax expense

8


20



Interest paid

(6)


(11)



Income tax paid

(9)


(14)


Changes in working capital:






Amounts receivable

1,672


733



Work in process and other assets

(35)


(61)



Accounts payable and accrued liabilities

(701)


123



Unearned revenue and deposits

151


297



Loss (gain) on foreign currency translation

(45)


783




(4,727)


(5,475)







Investing activities:





Purchase of property and equipment

(91)


(34)




(91)


(34)







Financing activities:





Proceeds from notes payable

5,000


11,800


Issuance costs of convertible notes and notes payable

-


(94)


Proceeds from reimbursable project funding

-


93


Proceeds from exercise of warrants

-


97


Movement from (to) restricted cash

512


(69)


Repayment of obligations under finance lease

(77)


(64)


Repayment of long-term debt and notes payable

(617)


(6,300)




4,818


5,463







Effect of foreign exchange on cash

-


(2)







Decrease in cash and cash equivalents

-


(48)







Cash and cash equivalents, beginning of period

-


537







Cash and cash equivalents, end of period

$

-


$

489


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