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Consolidated Statements of Cash Flows
12 Months Ended
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Operating Activities      
Net loss $ (2,101,886) $ (1,355,417) $ (2,758,567)
Items not involving cash:      
Amortization 785,505 1,044,222 1,573,091
Write-off of inventory 214,225 260,040 117,403
Loss (gain) on sale of property, plant and equipment 0 20,602 (8,389)
Share-based expense 129,490 163,051 133,645
Bad debts 0 0 2,000
Gain on repurchase of RSUs (40,785) (45,806) 0
Gain on revaluation of derivative warrant liability (3,665) (263,446) (658,626)
Unrealized foreign exchange loss (gain) 1,154 (31,648) (9,631)
Cash flows from (used in) operations before changes in working capital (1,015,962) (208,402) (1,609,074)
Changes in non-cash working capital      
Accounts receivable 316,568 (574,970) (273,350)
Prepaid expenses (41,581) 68,722 1,249
Inventory 556,043 1,133,347 (182,655)
Accounts payable and accrued liabilities (69,717) (134,915) 332,076
Income tax payable (20,602) 30,626 (91,566)
Changes in non-cash working capital 740,711 522,810 (214,246)
Cash Provided by (Used in) Operating Activities (275,251) 314,408 (1,823,320)
Investing Activities      
Proceeds from disposition of property, plant and equipment 0 27,339 27,704
Acquisition of property, plant and equipment (754,770) (754,020) (131,382)
Deposit on intangible assets 0 0 (127,643)
Acquisition of intangible assets (92,062) (148,814) (169,973)
Cash Used in Investing Activities (846,832) (875,495) (401,294)
Financing Activities      
Issue of common shares, net of issue costs 0 0 4,589,849
Exercise of options 0 0 55,000
Repurchase of RSUs (25,288) (35,269) 0
Lease liability payments (130,081) (100,310) (104,493)
Cash Provided by (Used in) Financing Activities (155,369) (135,579) 4,540,356
Foreign Exchange Effect on Cash (1,156) 31,648 12,673
Inflow (Outflow) of Cash (1,278,608) (665,018) 2,328,415
Cash, Beginning of Year 2,712,446 3,377,464 1,049,049
Cash, End of Year $ 1,433,838 $ 2,712,446 $ 3,377,464