XML 17 R6.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Operating activities:        
Net income for the period $ 1,375 $ 716 $ 5,331 $ 3,707
Items not involving cash:        
Depreciation of property and equipment 4,758 3,110 12,728 9,255
Impairment of property and equipment 241 113 302 1,638
Amortization of debt discount and issuance costs 68 68 202 202
Amortization of intangible assets 2,288 2,645 7,253 8,776
Net amortization contract costs (189) (15) (444) 109
Impairment of definite life intangible assets 0 0 0 1,431
Other 0 0 0 223
Accretion of contingent consideration 96 86 287 258
Deferred income taxes (recovery) (488) 180 (1,368) (927)
Excess tax benefits on share-based compensation expense (323) (164) (868) (508)
Net Right of use operating assets/Operating lease liability (2,378) 137 (2,149) 249
Loss on disposal of domain names 0 0 1 15
Loss (gain) on change in the fair value of forward contracts 249 (175) 606 (263)
Disposal of Ting Mobile customer assets (note 17) 0 3,513 0 3,513
Stock-based compensation 1,126 1,016 3,357 2,664
Change in non-cash operating working capital:        
Accounts receivable (11) 118 718 2,670
Contract assets (2,783) 0 (2,783) 0
Inventory (275) (123) (1,236) 1,681
Prepaid expenses and deposits 918 2,905 (1,874) (317)
Deferred costs of fulfillment 1,442 984 (2,130) (4,073)
Income taxes recoverable 532 (2,475) (2,502) (1,681)
Accounts payable 271 509 2,289 759
Accrued liabilities (1,828) (668) 1,941 (334)
Customer deposits (673) 69 (263) 463
Deferred revenue (2,873) (1,070) (258) 4,927
Accreditation fees payable (51) (47) (45) 7
Net cash provided by operating activities 1,492 11,432 19,095 34,444
Financing activities:        
Proceeds received on exercise of stock options 1,368 632 2,844 678
Payment of tax obligations resulting from net exercise of stock options (89) (132) (387) (479)
Repurchase of common stock 0 0 0 (3,281)
Proceeds received on loan payable 10,000 0 28,000 0
Payment of loan payable costs 0 0 0 (32)
Net cash (used in) provided by financing activities 11,279 500 30,457 (3,114)
Investing activities:        
Additions to property and equipment (14,488) (10,636) (50,093) (32,729)
Investment in securities 0 0 (2,012) 0
Acquisition of intangible assets (6) 0 (223) (69)
Net cash used in investing activities (14,494) (10,636) (52,328) (41,568)
Increase (decrease) in cash and cash equivalents (1,723) 1,296 (2,776) (10,238)
Cash and cash equivalents, beginning of period 7,258 8,859 8,311 20,393
Cash and cash equivalents, end of period 5,535 10,155 5,535 10,155
Supplemental cash flow information:        
Interest paid 1,144 635 3,083 2,638
Income taxes paid, net 212 3,249 6,008 5,449
Supplementary disclosure of non-cash investing and financing activities:        
Property and equipment acquired during the period not yet paid for 1,772 1,697 1,772 1,697
Fair value of shares issued for acquisition of Cedar Holdings Group 0 0 0 2,000
Fair value of contingent consideration for acquisition of Cedar Holdings Group 0 0 0 3,072
Cedar Holdings Group, Incorporated [Member]        
Investing activities:        
Acquisition of Cedar Holdings Group, net of cash of $66 (note 4) $ 0 $ 0 $ 0 $ (8,770)