Intermap Technologies Reports 2016 Fourth Quarter and Year-End Financial Results

 

INTERMAP TECHNOLOGIES CORPORATION
Consolidated Statements of Profit and Loss and Other Comprehensive Income
UNAUDITED

(In thousands of United States dollars, except per share information)

For the years ended December 31,


2016

2015





Revenue


$

7,049

$

8,642





Expenses:





Operating costs


14,781

16,860


Depreciation of property and equipment


837

974


Amortization of intangible assets


-

13




15,618

17,847






Operating loss


(8,569)

(9,205)





Restructuring costs


(941)

-

Gain on disposal of equipment


-

94

Change in fair value of derivative instruments


1,948

(2,572)

Financing costs


(10,069)

(6,661)

Financing income


7

8

(Loss) gain on foreign currency translation


(105)

136

Loss before income taxes


(17,729)

(18,200)





Income tax expense:





Current  


(14)

(27)


Deferred


-

73




(14)

46






Net loss for the period


$

(17,743)

$

(18,154)





Other comprehensive loss:








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




Foreign currency translation differences


(44)

(45)





Comprehensive loss for the period


$

(17,787)

$

(18,199)





Basic and diluted loss per share


$

(0.18)

$

(0.19)





Weighted average number of Class A common





shares - basic & diluted


100,878,954

96,102,755


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