|
|
|
For the years ended March 31, 2012 and 2011 |
|
|
|
|
|
|
|
2012 |
2011 |
|
|
$ |
$ |
|
Cash flows from operating activities |
|
|
Loss for the year |
(5,962,342) |
(8,806,474) |
|
Items not affecting cash |
|
|
|
Amortizaion of property and equipment |
101,148 |
178,050 |
|
Gain on disposal of property and equipment |
(3,359) |
-- |
|
Stock-based compensation expense |
1,716,062 |
4,091,119 |
|
|
|
|
|
|
(4,148,491) |
(4,537,305) |
|
Changes in non-cash working capital items |
|
|
Amounts receivable |
4,892 |
(16,867) |
|
Prepaid expenses |
(36,421) |
(3,634) |
|
Accounts payable and accrued liabilities |
(412,268) |
927,741 |
|
Deferred revenue |
222,656 |
-- |
|
|
|
|
|
|
(4,369,632) |
(3,630,065) |
|
Cash flows from investing activities |
|
|
Decrease in short-term investments |
2,504 |
15,907 |
|
Increase in restricted cash |
(361,600) |
-- |
|
Acquisition of property and equipment |
(78,546) |
(180,608) |
|
Development costs deferred |
(1,511,886) |
(105,852) |
|
Proceeds from disposal of property and equipment |
3,745 |
-- |
|
|
(1,945,783) |
(270,553) |
|
|
|
|
|
Cash flows from financing activities |
|
|
Issue of capital stock |
544,324 |
1,866,893 |
|
|
|
|
|
Decrease in cash and cash equivalents |
(5,771,
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|
