exactEarth Announces Q3 Fiscal 2021 Financial Results and Agreement to be Acquired by Spire Global
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exactEarth™ Ltd. |
Interim Condensed Consolidated Statements of Cash Flows |
(in thousands of Canadian dollars) |
(unaudited) |
|
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|
Three months ended |
|
Nine months ended |
|
|
|
July 31, |
|
July 31, |
|
July 31, |
|
July 31, |
|
|
|
2021 |
|
2020 |
|
2021 |
|
2020 |
|
|
|
$ |
|
$ |
|
$ |
|
$ |
Operating activities |
|
|
|
|
|
|
|
|
|
Net loss |
|
(249 |
) |
|
(941 |
) |
|
(1,483 |
) |
|
(4,432 |
) |
Add (deduct) items not involving cash |
|
|
|
|
|
|
|
|
|
Non-cash interest |
|
43 |
|
|
151 |
|
|
358 |
|
|
400 |
|
|
Depreciation and amortization |
|
170 |
|
|
178 |
|
|
525 |
|
|
669 |
|
|
(Recovery) loss on disposal |
|
- |
|
|
(13 |
) |
|
- |
|
|
825 |
|
|
Share of equity investment loss |
|
- |
|
|
450 |
|
|
- |
|
|
450 |
|
|
Operating grant recognized on SIF loan |
|
(96 |
) |
|
(237 |
) |
|
(252 |
) |
|
(598 |
) |
|
Long-term incentive plan expense |
|
327 |
|
|
373 |
|
|
1,491 |
|
|
759 |
|
|
Stock-based compensation |
|
- |
|
|
49 |
|
|
- |
|
|
117 |
|
|
Net change in non-cash balances |
|
215 |
|
|
124 |
|
|
(554 |
) |
|
(1,207 |
) |
Other operating cash flows |
|
|
|
|
|
|
|
|
|
Settlement of restricted share units |
|
(15 |
) |
|
- |
|
|
(15 |
) |
|
- |
|
Cash flows from (used in) operating activities |
|
395 |
|
|
134 |
|
|
70 |
|
|
(3,017 |
) |
|
|
|
|
|
|
|
|
|
|
Investing activities |
|
|
|
|
|
|
|
|
|
Acquisition of property, plant and equipment |
|
(19 |
) |
|
(213 |
) |
|
(686 |
) |
|
(1,786 |
) |
|
Reimbursement of acquisition costs of property, plant and equipment |
|
- |
|
|
- |
|
|
- |
|
|
331 |
|
|
Net change in non-cash working capital related to investing activities |
|
- |
|
|
(450 |
) |
|
- |
|
|
(450 |
) |
Cash flows used in investing activities |
|
(19 |
) |
|
(663 |
) |
|
(686 |
) |
|
(1,905 |
) |
|
|
|
|
|
|
|
|
|
|
Financing activities |
|
|
|
|
|
|
|
|
|
Government loan repayment |
|
- |
|
|
- |
|
|
- |
|
|
(205 |
) |
|
Government loan advance |
|
- |
|
|
439 |
|
|
688 |
|
|
1,647 |
|
|
Payment of principal portion of lease obligations |
|
(39 |
) |
|
(37 |
) |
|
(115 |
) |
|
(110 |
) |
|
Debenture transaction costs |
|
- |
|
|
- |
|
|
(91 |
) |
|
- |
|
Cash flows (used in) from financing activities |
|
(39 |
) |
|
402 |
|
|
482 |
|
|
1,332 |
|
|
|
|
|
|
|
|
|
|
|
Effect of exchange rate changes on cash |
|
12 |
|
|
32 |
|
|
(248 |
) |
|
143 |
|
|
|
|
|
|
|
|
|
|
|
Net increase (decrease) in cash |
|
349 |
|
|
(95 |
) |
|
(382 |
) |
|
(3,447 |
) |
Cash, beginning of the period |
|
6,692 |
|
|
6,836 |
|
|
7,423 |
|
|
10,188 |
|
Cash, end of the period |
|
7,041 |
|
|
6,741 |
|
|
7,041 |
|
|
6,741 |
|
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