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

Consolidated Cash Flow Statements

v3.21.1
Consolidated Cash Flow Statements - USD ($)
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating activities      
Loss for the year $ (63,046,905) $ (23,212,698) $ (7,745,313)
Adjustments for:      
Amortization 1,603,654 804,206 214,981
Stock-based compensation expense 6,260,985 5,147,573 2,491,078
Share-based payment expense   159,833 856,101
Interest expense/(income) (169,707) (75,753)  
Lease modification loss 62,935    
Changes in fair value of warrant derivative 31,923,727 2,228,256 (5,946,668)
Deferred income tax recovery (32,148) (80,725)  
Changes in non-cash working capital items:      
Receivables 183,863 660,621 (730,348)
Prepaid expenses 292,146 (3,228,192) (1,036,818)
Inventory 6,875 (245,301) (141,543)
Trade payables and accrued liabilities 392,539 755,098 48,591
Customer deposits and construction contract liability 35,406 157,259 (34,172)
Net cash flows used in operating activities (22,486,630) (16,929,823) (12,024,111)
Investing activities      
Investments in restricted cash 964 (55,775) (85,420)
Expenditures on plant and equipment (1,400,032) (2,747,495) (3,219,605)
Acquisition of intangible assets   (3,833) (6,205)
Net cash flows used in investing activities (1,399,068) (2,807,103) (3,311,230)
Financing activities      
Interest received 178,925 92,550  
Interest from net investment in sublease 11,420    
Interest paid (300) (364)  
Interest on lease payments (79,655) (103,946)  
Repayment of bank loans     (95,397)
Repayment of promissory note     (1,157,382)
Repayment of shareholder loans (1,521) (3,131) (3,204)
Repayment of leases (486,136) (469,113)  
Payment received for net investment in sublease 73,586    
Proceeds on issuance of common shares - net of issue costs (126,392,128) (11,058,573) (24,571,559)
Proceeds from issuance of common shares for options exercised 405,305 55,791  
Proceeds from issuance of common shares for warrants exercised 12,433,257 3,155,574  
Net cash flows from financing activities 138,927,009.00 13,785,934 23,315,576
Increase/(decrease) in cash and cash equivalents 115,041,311 (5,950,992) 7,980,235
Effect of exchange rate changes on cash 5,848,741 559,665 (867,456)
Cash and cash equivalents, beginning 8,560,624 13,951,951 6,839,172
Cash and cash equivalents, ending $ 129,450,676 $ 8,560,624 $ 13,951,951