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

Consolidated Statements of Cash Flows

v3.19.1
Consolidated Statements of Cash Flows - CAD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Operating activities      
Loss for the year $ (10,038,145) $ (11,366,372) $ (8,973,347)
Adjustments for:      
Amortization 278,621 124,134 22,567
Stock-based compensation expense 3,228,508 889,511 1,461,189
Share-based payment expense 1,109,531 1,085,716 3,264,681
Accretion interest expense   69,562 25,908
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 (7,707,051) 186,269  
Changes in non-cash working capital items:      
Receivables (946,552) 93,210 (242,645)
Prepaid expenses (1,343,745) (657,713) (202,238)
Inventory (183,444) (44,092) 14,966
Trade payables and accrued liabilities 62,975 568,850 325,090
Customer deposits (44,288) 110,335 140,994
Net cash flows used in operating activities (15,583,590) (7,320,080) (4,162,835)
Investing activities      
Restricted cash (110,707)    
Expenditures on plant and equipment (4,172,700) (1,264,265) (232,027)
Purchase of Intermeccanica International Inc.   (900,000) (100,000)
Cash received on business combination   59,449  
Expenditures on intangible assets (8,042)   (25,345)
Net cash flows used in investing activities (4,291,449) (2,104,816) (357,372)
Financing activities      
Proceeds from bank loans 0 123,637 0
Repayment of bank loan (123,637)    
Proceeds from convertible loans   2,441,225 300,000
Repayment of shareholder loans (4,153) (33,155) (135,000)
Repayment of promissory note (1,500,000)    
Proceeds from share subscription   750,000 101,500
Proceeds on issuance of common shares - net of issue costs 31,845,439 10,837,902 8,063,633
Net cash flows from financing activities 30,217,649 14,119,609 8,330,133
Increase in cash and cash equivalents 10,342,610 4,694,713 3,809,926
Effect of exchange rate changes on cash (26,673)    
Cash and cash equivalents, beginning 8,610,996 3,916,283 106,357
Cash and cash equivalents, ending $ 18,926,933 8,610,996 $ 3,916,283
Non-cash financing and investing transactions:      
Issuance of promissory note for acquisition of Intermeccanica   $ 1,500,000