Basic loss per share 0.02 (0.01) (0.44) (0.11)
Diluted loss per
share 0.02 (0.01) (0.44) (0.11)
Condensed Consolidated Interim Statement of Cash Flows
(Unaudited)
(Expressed in United States dollars)
For the three months ended For the nine months ended
September 30 September 30
2021 2020 2021 2020
Cash provided by
(used in):
Operating
activities:
Net income (loss)
for the period $ 673,240 $ (196,386) $(12,927,217) $(2,427,433)
Add (deduct)
adjustments and
items not
affecting cash:
Depreciation 794,995 168,970 2,746,238 614,420
Income tax
expense 474,031 - 1,283,537 -
Stock-based
compensation
expense 196,284 57,520 1,250,114 172,561
Other interest
and finance
cost 428,276 113,271 1,516,191 331,980
Interest on
leases 99,132 70,552 313,075 259,212
Interest
earned on
lease
receivables
and other (23,836) (36,005) (64,106) (92,592)
Fair value
adjustment on
convertible
debt and
warrants (4,964,539) - 1,455,090 -
Finance costs 374,652 - 1,444,745 -
Listing
expenses 1,017,659 - 1,017,659 -
Unrealized
foreign
exchange
(gain) loss (106,672) 86,201 (2,693) (101,301)
Gain on lease
modification - - - (129,148)
(1,036,778) 264,123 (1,967,367) (1,372,301)
Changes in non-cash
operating working
capital:
Short-term
investments - - - (83,000)
Trade and
other
receivables (248,624) 64,327 (496,573) 62,519
Inventories (362,857) 355,623 (757,175) (137,978)
Prepaid
materials,
expenses and
deposits 29,693 (108,352) 179,483 1,235,941
Advances to
vendors (1,519,636) (56,407) (2,479,256) 347,061
Accounts
payable and
accrued
liabilities 2,193,898 1,394,718 4,081,745 2,158,478
Deferred
revenue (433,406) (1,945,101) 1,157,391 (678,864)
Total operating
activities (1,377,710) (31,069) (281,752) 1,531,856
Investing
activities:
Purchase of
property and
equipment (26,081) (98,672) (54,730) (105,508)
Principal received
on lease
receivables 56,384 51,548 165,430 151,241
Interest received 23,836 36,005 64,106 92,592
Cash acquired from
reverse
acquisition 220,920 - 220,920 -
Total investing
activities 275,059 (11,119) 395,726 138,325
Financing
activities:
Subscription
receipts proceeds - - 16,177,383 -
Restricted cash
related to
subscription
receipts 15,032,370 - (74,921) -
Subscription
receipts issuance
costs (374,652) - (1,444,745) -
Proceeds from
exercise of stock
options 7,097 - 17,265 -
Principal lease
payments (234,520) (153,198) (744,902) (517,046)
Interest paid (431,864) (183,823) (1,471,445) (591,192)
Loan repayment - - (114,382) -
Total financing
activities 13,998,431 (337,021) 12,344,253 (1,108,238)
Increase/(Decrease)
in cash and cash
equivalents 12,895,780 (379,209) 12,458,227 561,943
Cash and cash
equivalents,
beginning of period 4,978,958 4,398,665 5,416,511 3,457,513
Cash and cash
equivalents, end of
period $17,874,738 $ 4,019,456 $ 17,874,738 $ 4,019,456
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SOURCE BuildDirect.com Technologies Inc.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/November2021/18/c0678.html
/CONTACT:
Investor Relations: Ashley Nuell, ir@builddirect.com; Media Relations: Reid Adrian, media@builddirect.com
/Web site: http://www.builddirect.com
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