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

Consolidated Statements of Cash Flows

v3.21.1
Consolidated Statements of Cash Flows
 12 Months Ended
Dec. 31, 2020
CAD ($)
Dec. 31, 2019
CAD ($)
Dec. 31, 2018
CAD ($)
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES      
Loss for the year $ (9,271,160) $ (9,627,605) $ (9,373,171)
Items not affecting cash:      
Amortization (Note 6) 24,062 30,695 29,642
Amortization of intangible assets (Note 8) 1,706,972 2,530,590 2,965,035
Amortization of right-of-use assets (Note 6) 298,998 296,526
Shares issued for services (Note 11) 349,225
Finance expense 371,061 257,448 125,903
Interest expense 80,637 273,574 77,669
Loss on sale of investment 508,050
Factoring fees 50,306
Effect of foreign exchange 41,855 (86,125)
Forgiveness on government loan (Note 10) (601,668)
Share-based compensation 1,407,414 839,249 651,316
Changes in non-cash working capital items:      
Receivables (559,470) (39,622) 5,454
Prepaids and deposits 4,327 34,369 (36,000)
Accounts payable and accrued liabilities 495,829 23,026 478,207
Cash used in operating activities (5,093,562) (5,467,875) (5,075,945)
FINANCING ACTIVITIES      
Proceeds from notes payable 1,261,254 2,633,667 3,106,652
Proceeds from government PPP loan (Note 10) 829,937
Repayment of notes payable (336,000) (1,258,194)
Proceeds from share issuances, net 7,980,413 6,156,588
Payments for lease liabilities (409,819) (359,119) 4,061,900
Receivable factoring costs (50,306)
Proceeds from subscriptions received in advance 300,000
Deferred financing costs (93,768)   (446,659)
Cash provided by financing activities 9,181,711 7,472,942 6,721,893
INVESTING ACTIVITIES      
Proceeds from sale of investments 190,396
Development of intangible assets (1,411,797) (1,939,858) (1,804,207)
Purchase of equipment (38,843)
Cash used in investing activities (1,221,401) (1,939,858) (1,842,690)
Change in cash during the year 2,866,748 65,209 (196,742)
Cash - Beginning of year 99,209 34,000 230,742
Cash - End of year $ 2,965,957 $ 99,209 $ 34,000