TSO3 Reports Second Quarter 2019 Results

Monday, August 12, 2019 General News
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Consolidated Statements of Cash Flows

As of June 30, 2019 and 2018 (Unaudited, IFRS Basis, in thousands of US dollars)

Six months

2019

2018

$

$

Cash flows from operating activities

Net loss

(7,646)

(8,464)

Adjustments for:

Depreciation and amortization

596

607

Loss on disposal of property, plant and equipment   

7

-

Share-based Compensation

632

998

Capitalized interest on long term debt

1,438

-

Loss (gain) on re-measurement at fair-value on embedded derivative

217

-

Investment income

(82)

(62)

(4,838)

(6,921)

Changes in non-cash operating working capital items

1,073

(1,087)

Interest received

82

83

Cash flows used by operating activities

(3,683)

(7,925)

Cash flows from investing activities

Disposal of investments

-

5,126

Acquisition of property, plant and equipment

(8)

(134)

Acquisition of intangible assets

(108)

(80)

Proceed from disposal of property, plant and equipment

4

-

Cash flows (used) generated by investing activities

(112)

4,912

Cash flows from financing activities

Financing fee

32

-

Options exercised

-

25

Cash flows generated by financing activities

32

25

Decrease in cash and cash equivalents

(3,763)

(2,988)

Cash and cash equivalents at the beginning

12,961

8,044

Cash and cash equivalents at the end

9,198

5,056



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