INTERNATIONAL BARRIER TECHNOLOGY INC
CIK:0000890543|SEC Filings
INTERNATIONAL BARRIER TECHNOLOGY, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) |
12 Months Ended | |
|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
|
| Operating Activities | ||
| Net income for the year | $ 492,439 | $ 317,005 |
| Items not involving cash: | ||
| Deferred income tax expense (recovery) | (62,000) | 8,000 |
| Depreciation - plant and equipment | 287,422 | 342,734 |
| Changes in non-cash working capital balances related to operations: | ||
| Accounts receivable | 324,013 | (164,407) |
| Inventory | (314,857) | (33,649) |
| Prepaid expenses and deposits | 18,781 | (6,132) |
| Accounts payable and accrued liabilities | (344,739) | 206,766 |
| Deferred Revenue | (50,000) | 50,000 |
| Net cash provided by operating activities | 351,059 | 720,317 |
| Cash Flows provided by (used) in Financing Activities | ||
| Issuance of Common Shares | 344,518 | |
| Decrease in obligations under capital lease | (40,140) | (48,739) |
| Net cash provided by (used in) financing activities | 304,378 | (48,739) |
| Cash Flows used in Investing Activities | ||
| Acquisition of equipment | (507,536) | (547,090) |
| Net cash used in investing activities | (507,536) | (547,090) |
| Increase in cash and cash equivalents during the period | 147,901 | 124,488 |
| Cash and cash equivalents, beginning of the period | 928,940 | 804,452 |
| Cash and cash equivalents, end of the period | 1,076,841 | 928,940 |
| Supplemental Cash Flow Information | ||
| Cash paid for interest | 17,753 | 31,750 |
| Cash paid for income taxes | $ 15,882 | $ 1,800 |
INTERNATIONAL BARRIER TECHNOLOGY, INC. CONSOLIDATED BALANCE SHEETS - USD ($) |
Jun. 30, 2017 |
Jun. 30, 2016 |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current assets | |||||||||||||
| Cash and cash equivalents | $ 1,076,841 | $ 928,940 | |||||||||||
| Accounts receivable | 246,253 | 570,266 | |||||||||||
| Inventory | [1] | 988,725 | 673,868 | ||||||||||
| Prepaid expenses and deposits | 47,230 | 66,011 | |||||||||||
| Total Current Assets | 2,359,049 | 2,239,085 | |||||||||||
| Property, plant and equipment | [2] | 3,438,946 | 3,218,832 | ||||||||||
| Deferred income taxes | [3] | 54,000 | |||||||||||
| Total Assets | 5,851,995 | 5,457,917 | |||||||||||
| Current liabilities | |||||||||||||
| Accounts payable and accrued liabilities | 515,958 | 860,697 | |||||||||||
| Obligation under capital leases, current | 13,151 | ||||||||||||
| Deferred revenue | 50,000 | ||||||||||||
| Convertible debentures | [4] | 240,000 | |||||||||||
| Total Current Liabilities | 515,958 | 1,163,848 | |||||||||||
| Deferred income taxes, noncurrent | [3] | 8,000 | |||||||||||
| Obligation under capital leases, noncurrent | 26,989 | ||||||||||||
| Total Liabilities | 515,958 | 1,198,837 | |||||||||||
| STOCKHOLDERS' EQUITY | |||||||||||||
| Authorized: Unlimited common shares without par value Issued: 53,684,926 common shares (June 30, 2016: 47,807,426) | [5] | 16,584,133 | 15,934,256 | ||||||||||
| Additional paid-in capital | 1,443,924 | 1,509,283 | |||||||||||
| Accumulated deficit | (12,692,020) | (13,184,459) | |||||||||||
| Total Stockholders' Equity | 5,336,037 | 4,259,080 | |||||||||||
| Total Liabilities and Stockholders' Equity | $ 5,851,995 | $ 5,457,917 | |||||||||||
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