Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.20.1
Consolidated Statements of Cash Flows - CAD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating activities      
Loss for the period $ (30,742,311) $ (10,038,145) $ (11,366,372)
Adjustments for:      
Amortization 1,066,906 278,621 124,134
Stock-based compensation expense 6,816,321 3,228,508 889,511
Share-based payment expense 213,720 1,109,531 1,085,716
Accretion interest expense     69,562
Interest income (99,477)    
Finder's fee on convertible loan     258,542
Impairment of goodwill     1,342,794
Impairment of trademark and patents     19,174
Changes in fair value of warrant derivative 2,926,392 (7,707,051) 186,269
Deferred income tax recovery (106,939)    
Changes in non-cash working capital items:      
Receivables 865,323 (946,552) 93,210
Prepaid expenses (4,312,200) (1,343,745) (657,713)
Inventory (329,414) (183,444) (44,092)
Trade payables and accrued liabilities 991,601 62,975 568,850
Customer deposits and construction contract liabilities 208,161 (44,288) 110,335
Net cash flows used in operating activities (22,501,917) (15,583,590) (7,320,080)
Investing activities      
Investments in restricted cash (73,607) (110,707)  
Expenditures on plant and equipment (3,642,838) (4,172,700) (1,264,265)
Purchase of Intermeccanica International Inc.     (900,000)
Cash Received on business combination     59,449
Expenditures on intangible assets (5,008) (8,042)  
Net cash flows used in investing activities (3,721,453) (4,291,449) (2,104,816)
Financing activities      
Proceeds/(repayment) of bank loan 0   123,637
Proceeds/(repayment) of bank loan   (123,637)  
Proceeds from convertible loans     2,441,225
Interest received 122,287    
Interest paid (482)    
Interest on lease payments (137,892)    
Repayment of shareholder loan (4,154) (4,153) (33,155)
Repayment of promissory note   (1,500,000)  
Repayment of leases (622,168)    
Proceeds from share subscription     750,000
Proceeds on issuance of common shares - net of issue costs 14,699,097 31,845,439 10,837,902
Proceeds from issuance of common shares for options exercised 74,101    
Proceeds from issuance of common shares for warrants exercised 4,195,286    
Net cash flows from financing activities 18,326,075 30,217,649 14,119,609
Increase (decrease) in cash and cash equivalents (7,897,295) 10,342,610 4,694,713
Effect of exchange rate changes on cash 66,210 (26,673)  
Cash and cash equivalents, beginning 18,926,933 8,610,996 3,916,283
Cash and cash equivalents, ending 11,095,848 18,926,933 8,610,996
Supplemental schedule of non-cash financing and investing transactions:      
Shares issued for services $ 213,720 $ 1,109,531 1,085,716
Issuance of promissory note for acquisition of Intermeccanica     $ 1,500,000