XML 20 R5.htm IDEA: XBRL DOCUMENT v3.22.2
Consolidated Statements of Cash Flows - CAD ($)
3 Months Ended 12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities          
Net loss $ (11,023,121) $ (9,751,609) $ (44,699,313) $ (34,860,963) $ (27,894,834)
Items not affecting cash:          
Depreciation and amortization 1,943,213 1,970,950 8,924,812 6,778,100 4,044,143
Share-based compensation 252,933 375,274 1,867,915 1,454,235 1,468,361
Finance costs 1,858,637 2,235,927 8,618,794 6,020,636 3,217,500
Fair value (gain) loss on derivatives (2,493,270) 1,564,149 6,040,121    
Impairment         600,657
Other income (2,841) (697,237) (2,675,671) (92,535) (167,913)
Recovery of expected credit loss (54,782)        
Provision for expected credit loss     1,159,742 223,129 432,073
Unrealized foreign currency exchange (gain) loss (26,400) 71,956 (534,993) 1,034,501 542,016
Business acquisition costs       149,596 8,880,000
Current tax expense (recovery) 288,863 238,797 157,303 (295,709) 181,895
Deferred income tax recovery (890,816) (119,224) (1,822,109) (668,209) (2,692,313)
Gain on settlement of lease liability         (99,979)
Increase (decrease) in working capital 7,353,522 (41,509) (1,988,521) (904,212) (2,131,240)
Interest paid (976,459) (777,149) (3,377,851) (3,535,805) (1,992,496)
Taxes paid       (158,564) (376,093)
Net cash used in operating activities (3,770,521) (4,929,675) (28,329,771) (24,855,800) (15,988,223)
Investing activities          
Acquisition of property and equipment (11,040) (20,486) (625,202) (127,688) (138,123)
Acquisition of and expenditure on intangible assets   (440,965) (438,725) (809,764)  
Acquisition of royalty agreement         (204,604)
Acquisition of assets of AirFusion       (835,302)  
Acquisition of business, net of cash acquired       (4,622,400) (20,389,426)
Net cash used in investing activities (11,040) (461,451) (1,063,927) (6,395,154) (20,732,153)
Financing activities          
Payment of lease liabilities (121,068) (297,637) (1,095,327) (814,072) (422,783)
Repayment of loans (3,273,055) (2,641,604) (9,781,554) (9,011,638) (6,787,528)
Proceeds from loans and bank indebtedness, net of transaction costs 4,310,588 2,151,212 13,752,698 8,726,766 16,539,700
Net change in bank overdraft 173,102 66,153      
Net (repayments) advances of bank indebtedness     (1,004,211) (495,026) 1,471,805
Proceeds from issuance of shares, net of issuance costs     20,300,920 14,526,300  
Proceeds from issuance of convertible debentures, net of costs     5,424,661 5,285,997 22,865,049
Proceeds from issuance of warrants, net of issuance costs     5,415,864 12,217,171 1,727,202
Proceeds from the exercise of stock options, net of issuance costs   5,329,835 70,000 543,249
Proceeds from exercise of warrants, net       1,495,692  
Income tax withholding on RSUs     (86,173) (144,393)  
Net cash provided by financing activities 1,089,567 4,607,959 32,926,878 31,856,797 35,936,694
Net decrease in cash and cash equivalents (2,691,994) (783,167) 3,533,180 605,843 (783,682)
Effect of exchange rate fluctuations on cash held (23,042) (18,297) (56,012) (24,144) (12,922)
Cash and cash equivalents, beginning of year 4,588,057 1,110,889 1,110,889 529,190 1,325,794
Cash and cash equivalents, end of year $ 1,873,021 $ 309,425 $ 4,588,057 $ 1,110,889 $ 529,190