INTERMAP TECHNOLOGIES CORPORATION
Condensed Consolidated Interim Statements of Cash Flows
(In thousands of United States dollars)
For the Three Months Ended March 31, | 2014 | 2013 | |||||||||||||
Cash flows provided by: | |||||||||||||||
Operating activities: | |||||||||||||||
Net loss for the period | $ | (3,818) | $ | (2,000) | |||||||||||
Adjusted for the following non-cash items: | |||||||||||||||
Depreciation of property and equipment | 292 | 359 | |||||||||||||
Amortization of data library | - | 1,152 | |||||||||||||
Amortization of intangible assets | 29 | 29 | |||||||||||||
Share-based compensation expense | 82 | 77 | |||||||||||||
Gain on disposal of equipment | (362) | (4) | |||||||||||||
Amortization of deferred lease inducements | (47) | (29) | |||||||||||||
Deferred taxes | (79) | - | |||||||||||||
Financing costs | 204 | 222 | |||||||||||||
Current income tax expense | - | 47 | |||||||||||||
Interest paid | (7) | (27) | |||||||||||||
Income tax paid | (10) | (13) | |||||||||||||
Changes in working capital: | |||||||||||||||
Amounts receivable | 2,409 | 1,090 | |||||||||||||
Work in process and other assets | (239) | 154 | |||||||||||||
Accounts payable | (51) | 181 | |||||||||||||
Accrued liabilities | (20) | (148) | |||||||||||||
Unearned revenue and deposits | 45 | 169 | |||||||||||||
Gain on foreign currency translation | (3) | (37) | |||||||||||||
(1,575) | 1,222 | ||||||||||||||
Investing activities: | |||||||||||||||
Purchase of property and equipment | (147) | (248) | |||||||||||||
Proceeds from sale of equipment | 132 | 4 | |||||||||||||
(15) | (244) | ||||||||||||||
Financing activities: | |||||||||||||||
Proceeds from issuance of convertible note | 5,000 | - | |||||||||||||
Financing costs of convertible note | (93) | - | |||||||||||||
Repayment of obligations under finance lease | (28) | (88) | |||||||||||||
Repayment of long-term debt and notes payable | (38) | (208) | |||||||||||||
4,841 | (296) | ||||||||||||||
Effect of foreign exchange on cash | - | (19) | |||||||||||||
Increase in cash and cash equivalents | 3,251 | 663 | |||||||||||||
Cash and cash equivalents, beginning of period | 2,420 | 2,055 | |||||||||||||
Cash and cash equivalents, end of period | $ | 5,671 | $ | 2,718 |