Snipp Interactive Inc.
CIK:0001613092|SEC Filings
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) |
12 Months Ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2016 |
|||||||
| CASH FLOWS FROM OPERATING ACTIVITIES | |||||||||
| Net loss for the year | $ (3,096,169) | $ (4,443,871) | $ (8,572,722) | ||||||
| Items not involving cash: | |||||||||
| Amortization of intangible assets | 1,952,641 | 1,714,339 | 1,472,943 | ||||||
| Depreciation of equipment | 30,635 | 45,825 | 51,627 | ||||||
| Stock-based compensation | 257,313 | 560,093 | 1,117,642 | ||||||
| Change in fair value of derivative liability | 0 | 0 | (31,834) | ||||||
| Change in fair value of acquisition consideration payable in equity | 0 | 0 | (537,381) | ||||||
| Changes in non-cash working capital items: | |||||||||
| Accounts receivable | 1,436,607 | 427,110 | (1,300,575) | ||||||
| Deposits, prepaid expenses and other assets | (218,726) | (211,559) | 30,275 | ||||||
| Accounts payable and accrued liabilities | 318,166 | (133,761) | 406,563 | ||||||
| Deferred revenue | (398,121) | (1,001,741) | 1,069,857 | ||||||
| Due to related parties | 32,272 | (31,638) | (480,445) | ||||||
| Net cash flows generated by (used in) operating activities | 314,618 | (3,075,203) | (6,774,050) | ||||||
| CASH FLOWS FROM INVESTING ACTIVITIES | |||||||||
| Additions to equipment | (7,725) | (6,315) | (35,507) | ||||||
| Additions to intangible assets | (1,006,995) | (1,351,597) | (1,639,771) | ||||||
| Acquisition of Ziploop assets (Note 10) | [1] | (25,000) | |||||||
| Due to Swiss Post | 0 | 0 | (861,956) | ||||||
| Net cash flows used in investing activities | (1,039,720) | (1,357,912) | (2,537,234) | ||||||
| CASH FLOWS FROM FINANCING ACTIVITIES | |||||||||
| Proceeds from common shares issued | 3,018,950 | 3,375,076 | 5,275,554 | ||||||
| Share issuance costs | (109,791) | (19,927) | (72,980) | ||||||
| Proceeds from warrants exercised | 0 | 0 | 17,268 | ||||||
| Proceeds from options exercised | 0 | 15,888 | 14,600 | ||||||
| (Repayment of) proceeds from working capital line of credit | (933,159) | (1,066,841) | 2,000,000 | ||||||
| Net cash flows provided by financing activities | 1,976,000 | 2,304,196 | 7,234,442 | ||||||
| Effect of exchange rate changes on cash | (43,099) | 139,930 | (244,156) | ||||||
| Change in cash for the year | 1,207,799 | (1,988,989) | (2,320,998) | ||||||
| Cash and cash equivalents, beginning of year | 386,630 | [2] | 2,375,619 | 4,696,617 | |||||
| Cash and cash equivalents, end of year | $ 1,594,429 | [2] | $ 386,630 | [2] | $ 2,375,619 | ||||
| |||||||||
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($) |
Dec. 31, 2018 |
Dec. 31, 2017 |
|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current | |||||||||||||||
| Cash | [1] | $ 1,594,429 | $ 386,630 | ||||||||||||
| Accounts receivable, net of allowance for doubtful accounts | 2,378,671 | 3,815,278 | |||||||||||||
| Deposits, prepaid expenses and other assets | 716,877 | 498,151 | |||||||||||||
| Current assets | 4,689,977 | 4,700,059 | |||||||||||||
| Equipment | [2] | 43,419 | 66,329 | ||||||||||||
| Intangible assets | [3] | 4,701,199 | 5,121,845 | ||||||||||||
| Goodwill | 3,343,129 | 3,343,129 | |||||||||||||
| Assets | 12,777,724 | 13,231,362 | |||||||||||||
| Current | |||||||||||||||
| Accounts payable and accrued liabilities | 2,861,051 | 2,542,885 | |||||||||||||
| Deferred revenue | 561,760 | 959,881 | |||||||||||||
| Due to related parties | [4] | 77,244 | 44,972 | ||||||||||||
| Working Capital Line of Credit | [5] | 0 | 933,159 | ||||||||||||
| Liabilities | 3,500,055 | 4,480,897 | |||||||||||||
| Shareholders' equity | |||||||||||||||
| Common shares | [6] | 29,523,285 | 26,186,684 | ||||||||||||
| Warrants | [6] | 421,796 | 421,796 | ||||||||||||
| Contributed surplus | [6] | 5,127,412 | 4,797,541 | ||||||||||||
| Deficit | (24,492,047) | (21,395,878) | |||||||||||||
| Accumulated other comprehensive loss | (1,302,777) | (1,259,678) | |||||||||||||
| Equity | 9,277,669 | 8,750,465 | |||||||||||||
| Equity and liabilities | $ 12,777,724 | $ 13,231,362 | |||||||||||||
| |||||||||||||||