INTERMAP TECHNOLOGIES CORPORATION
Condensed Consolidated Interim Statements of Cash Flows
(In thousands of United States dollars)
| For the Nine Months Ended September 30, | 2013 | 2012 | |||||
| Cash flows provided by: | |||||||
| Operating activities: | |||||||
| Net loss for the period | $ | (2,299) | $ | (3,855) | |||
| Adjusted for the following non-cash items: | |||||||
| Depreciation of property and equipment | 1,080 | 1,471 | |||||
| Amortization of data library | 3,457 | 3,457 | |||||
| Amortization of intangible assets | 89 | 138 | |||||
| Share-based compensation expense | 341 | 613 | |||||
| Gain on disposal of equipment | (342) | (26) | |||||
| Amortization of deferred lease inducements | (49) | 104 | |||||
| Extinguishment of facility closure provision | (720) | - | |||||
| Deferred taxes | - | (8) | |||||
| Net financing costs | 487 | 313 | |||||
| Current income tax expense | 58 | 50 | |||||
| Interest paid | (61) | (99) | |||||
| Income tax paid | (39) | (109) | |||||
| Changes in working capital, net of investing activities: | |||||||
| Amounts receivable, net | 622 | 3,955 | |||||
| Work in process and other assets | 731 | (86) | |||||
| Accounts payable | (436) | (13) | |||||
| Accrued liabilities | (556) | (987) | |||||
| Unearned revenue and deposits | 62 | (1,239) | |||||
| Loss on foreign currency translation | 9 | (229) | |||||
| 2,434 | 3,450 | ||||||
| Investing activities: | |||||||
| Purchase of property and equipment | (463) | - | |||||
| Investment in intangible assets | - | (113) | |||||
| Proceeds from sale of equipment | 112 | 33 | |||||
| (351) | (80) | ||||||
| Financing activities: | |||||||
| Proceeds from issuance of convertible note | - | 2,500 | |||||
| Financing costs of convertible note | - | (70) | |||||
| Issuance costs of convertible note and shares issued upon conversion | (6) | (5) | |||||
| Proceeds from reimbursable project funding | - | 151 | |||||
| Repayment of obligations under finance lease | (262) | (238) | |||||
| Repayment of long-term debt and notes payable | (618) | (644) | |||||
| (886) | 1,694 | ||||||
| Effect of foreign exchange on cash | (15) | 7 | |||||
| Increase in cash and cash equivalents | 1,182 | 5,071 | |||||
| Cash and cash equivalents, beginning of period | 2,055 | 597 | |||||
| Cash and cash equivalents, end of period | $ | 3,237 | $ | 5,668 | |||
