• Filing Date: 2012-12-13
  • Form Type: 10-Q
  • Description: Quarterly report
v2.4.0.6
INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
6 Months Ended
Oct. 31, 2012
Oct. 31, 2011
Cash flows from operating activities:    
Net loss for the period $ 542,433 $ (813,669)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 81,830 60,050
Amortization of intangible assets 19,591 484,174
Stock-based compensation 611,375 374,184
Change in fair value of derivative liability (993,164) (427,728)
Foreign exchange gain (loss) 4,537 (11,311)
Accretion of debenture discount 0 159,798
Changes in assets and liabilities:    
Accounts receivable (715,238) (661,921)
Other current assets 86,818 24,693
Decrease in other assets (47,560) (25,658)
Accounts payable and accrued liabilities (76,320) (265,299)
Unearned revenue 286,469 (39,056)
Customer deposits 0 65
Accrued warranty 2,607 (36,796)
Net cash used in operating activities (196,622) (1,178,474)
Cash flows from investing activities:    
Purchase of equipment (213,927) (671)
Deposits (42,560) (1,004)
Net cash used in investing activities (256,487) (1,675)
Cash flows from financing activities:    
Common stock issued, net of transaction costs 3,977,598 6,683,718
Net cash provided by financing activities 3,977,598 6,683,718
Foreign exchange effect on cash (8,882) 29,668
Increase (decrease) in cash 3,515,607 5,533,237
Cash, beginning of the period 8,154,139 1,707,397
Cash, end of the period 11,669,746 7,240,634
Supplemental disclosure of cash flow information Cash paid for:    
Interest $ 624 $ 5,297