CHANGE IN PRESENTATION CURRENCY AND ADOPTION OF NEW STANDARDS (Tables)

12 Months Ended

Dec. 31, 2018

Change In Presentation Currency And Adoption Of New Standards Tables Abstract

Changes in presentation currency and adoption of new standards

The impact of the changes in presentation currency and the adoption of new accounting pronouncements (see note 3) on the consolidated financial statements is as follows:

Consolidated Statement of Financial Position – As at January 1, 2017

		Previously
		Reported		Reported		IFRS		Restated
(in thousands)		in USD		in CAD		Adoption		CAD
Assets
Current	$	17,113	$	22,976	$	-	$	22,976
Non-Current		200,310		268,657		-		268,657
Total assets		217,423		291,633		-		291,633
Liabilities
Current	$	7,260	$	9,749	$	-	$	9,749
Non-Current		37,452		50,282		-		50,282
Total liabilities		44,712		60,031		-		60,031
Equity
Share capital	$	1,140,631	$	1,295,235	$	-	$	1,295,235
Share purchase warrants		-		-		-		-
Contributed surplus		54,306		60,612		-		60,612
Deficit
Opening		(961,440)		(1,124,532)		9 (1)		(1,124,523)
Accumulated other comprehensive income (loss)
Cumulative foreign currency translation		(61,371)		(446)		-		(446)
Unamortized experience gain		578		724		-		724
Unrealized gain on investments		7		9		(9) (1)		-
Total equity		172,711		231,602		-		231,602
Total liabilities and equity	$	217,423	$	291,633	$	-	$	291,633

(1) Represents adjustments related to the adoption of IFRS 9 (see note 3).

Consolidated Statement of Financial Position – As at December 31, 2017

		Previously
		Reported		Reported		IFRS		Restated
(in thousands)		in USD		in CAD		Adoption		CAD
Assets
Current	$	40,135	$	50,352	$	-	$	50,352
Non-Current		219,933		275,948		-		275,948
Total assets		260,068		326,300		-		326,300
Liabilities
Current
Deferred revenue	$	2,498	$	3,134	$	1,802 (2)	$	4,936
All other current liabilities		8,497		10,660		-		10,660
		10,995		13,794		1,802		15,596
Non-Current
Deferred revenue		27,181		34,100		(384) (2)		33,716
Deferred income tax liability		14,182		17,792		(370) (3)		17,422
All other non-current liabilities		23,758		29,805		-		29,805
		65,121		81,697		(754)		80,943
Total liabilities		76,116		95,491		1,048		96,539
Equity
Share capital	$	1,151,927	$	1,310,473	$	-	$	1,310,473
Share purchase warrants		333		435		-		435
Contributed surplus		55,165		61,799		-		61,799
Deficit
Opening		(961,440)		(1,124,532)		9 (1)		(1,124,523)
Net income (loss)		(14,168)		(18,520)		5 (1)
						(1,418) (2)
						370 (3)		(19,563)
Accumulated other comprehensive income (loss)
Cumulative foreign currency translation		(48,454)		416		-		416
Unamortized experience gain		578		724		-		724
Unrealized gain on investments		11		14		(14) (1)		-
Total equity		183,952		230,809		(1,048)		229,761
Total liabilities and equity	$	260,068	$	326,300	$	-	$	326,300

(1) Represents adjustments related to the adoption of IFRS 9 (see note 3);

(2) Represents adjustments related to the adoption of IFRS 15 (see note 3); and

(3) Represents adjustments related to the tax impact of the adoption of IFRS 15 (see note 3).

Consolidated Statement of Income (Loss) and Comprehensive Income (Loss) – year ended December 31, 2017

		Previously
		Reported		Reported		IFRS		Restated
(in thousands)		in USD		in CAD		Adoption		CAD
Revenues	$	11,085	$	14,370	$	1,697 (2)	$	16,067
Other income (expense) (3)		1,599		1,990		5 (1)		1,995
Finance income (expense)		(858)		(1,111)		(3,115) (2)		(4,226)
Deferred income tax recovery (expense)		3,638		4,796		370 (2)		5,166
Net loss for the period	$	(14,168)	$	(18,520)	$	(1,043)	$	(19,563)
Other comprehensive income (loss)
Unrealized gain (loss) on investments		4		5		(5) (1)		-
Foreign currency translation change		12,917		862		-		862
Comprehensive income (loss) for the period	$	(1,247)	$	(17,653)	$	(1,048)	$	(18,701)

(1) Represents adjustments related to the adoption of IFRS 9;

(2) Represents before tax and tax adjustments related to the adoption of IFRS 15; and

(3) The amount reported separately as “Foreign exchange” has been grouped into “Other income (expense)” to be consistent with the presentation for fiscal 2018.

Consolidated Statement of Cash Flow – year ended December 31, 2017

		Previously
		Reported		Reported		IFRS		Restated
(in thousands)		in USD		in CAD		Adoption		CAD
Net cash provided by operating activities	$	12,380		16,875		-		16,875
Net cash used in investing activities		(35,502)		(47,724)		-		(47,724)
Net cash provided by financing activities		13,743		18,591		-		18,591
Increase (decrease) in cash and equivalents		(9,379)		(12,258)		-		(12,258)
Foreign exchange effect on cash and equivalents		439		-		-		-
Cash and equivalents, beginning of period		11,838		15,894		-		15,894
Cash and equivalents, end of period	$	2,898	$	3,636	$	-	$	3,636