The following table sets forth selected financial information derived from the Company's unaudited interim condensed consolidated financial statements for the three and nine months ended October 31, 2015, July 31, 2015 and October 31, 2014. The selected financial information was prepared in accordance with IAS 34 in a manner consistent with the Company's annual financial statements. The following information should be read in conjunction with these statements and the accompanying notes.
Nine-month Period
Three-month Period Ended Ended
October October October October
31, July 31, 31, 31, 31,
Dollar amounts in U.S.
dollars 2015 2015 2014 2015 2014
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Amounts in thousands,
except loss per share
Revenue $5,138 $5,974 $10,757 $21,074 $27,187
Cost of sales 2,884 3,927 5,552 12,084 14,952
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Gross margin 2,254 2,047 5,205 8,990 12,235
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Operating expenses
Research and development 3,215 2,698 4,669 10,017 12,579
Selling, general and
administrative 1,970 1,923 3,077 6,478 11,578
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Total operating expenses
(1) 5,185 4,621 7,746 16,495 24,157
------------------------------ -------------------
Loss before finance costs
and income, currency
gains (2,931) (2,574) (2,541) (7,505) (11,922)
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Other income (expense):
Finance costs (89) (155) (33) (336) (90)
Finance income 3 8 19 33 65
Currency gains (losses) (173) (274) (302) (133) 225
------------------------------ -------------------
Total other income
(expense) (259) (421) (316) (436) 200
------------------------------ -------------------
Loss before taxes ($3,190) ($2,995) ($2,857) ($7,941) ($11,722)
Income tax expense (4) (5) (22) (18) (27)
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Net loss for the period (3,194) (3,000) (2,879) (7,959) (11,749)
Other comprehensive income
(loss)
Item subject to
reclassification
Exchange difference on
translating foreign
operations 11 (13) (27) (7) (45)
------------------------------ -------------------
Comprehensive loss for the
period ($3,183) ($3,013) ($2,906) ($7,966) ($11,794)
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Loss per share attributed
to common equity holders
Basic ($0.06) ($0.06) ($0.06) ($0.16) ($0.23)
Diluted ($0.06) ($0.06) ($0.06) ($0.16) ($0.23)
Weighted average number of
common shares outstanding
Basic 50,377 50,377 50,375 50,377 50,368
Diluted 50,377 50,377 50,375 50,377 50,368
(1) Includes share-based
transaction expense of:
Research and development 92 (130) 251 125 702
Selling, general and
administrative 111 55 156 (48) 815
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$203 ($75) $407 $77 $1,517
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BALANCE SHEET
