• Filing Date: 2012-09-13
  • Form Type: 10-Q
  • Description: Quarterly report
v2.4.0.6
Statement of Cash Flows (USD $)
3 Months Ended
Jul. 31, 2012
Jul. 31, 2011
Cash flows from operating activities:    
Net income (loss) for the period $ 867,538 $ (925,718)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 33,495 30,841
Amortization of intangible assets 9,908 280,880
Stock-based compensation 396,770 244,261
Share purchase warrants 0 0
Shares issued as part of share purchase plan 0 0
Fair value adjustment on derivative instruments (785,128) (145,714)
Foreign exchange gain (6,418) (687)
Accretion of debenture discount 0 159,798
Changes in assets and liabilities:    
Accounts receivable (1,376,773) 599,061
Other current assets 47,175 24,927
Decrease in other assets (12,752) (29,229)
Accounts payable and accrued liabilities (29,129) (387,661)
Unearned revenue 371,687 (188,252)
Customer deposits 0 65
Accrued warranty 9,124 (22,967)
Net cash used in operating activities (474,503) (360,395)
Cash flows from investing activities:    
Purchase of equipment (41,227) (671)
Deposits 6,726 (1,021)
Net cash used in investing activities (34,501) (1,692)
Cash flows from financing activities:    
Common stock issued, net of transaction costs 3,759,409 5,857,404
Net cash provided by financing activities 3,759,409 5,857,404
Foreign exchange effect on cash (105) 26,760
Increase (decrease) in cash 3,250,300 5,522,077
Cash, beginning of the period 8,154,139 1,707,397
Cash, end of the period 11,404,439 7,229,474
Non cash transactions -    
Interest $ 470 $ 5,297