exactEarth Announces Q3 Fiscal 2021 Financial Results and Agreement to be Acquired by Spire Global

 

 
exactEarth™ Ltd.
Interim Condensed Consolidated Statements of Cash Flows
(in thousands of Canadian dollars)
(unaudited)
           
      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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