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August 31, November 30,
2007 2006
$ $
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Assets
Current assets:
Cash and cash equivalents 6,201,996 4,077,065
Short-term investments 7,962,663 16,135,490
Receivables 246,191 716,727
Refundable tax credits 600,000 400,000
Prepaid expenses 493,864 340,695
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15,504,714 21,669,977
Property and equipment, net 1,988,053 1,539,536
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17,492,767 23,209,513
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Liabilities and Shareholders' Equity
Current liabilities:
Accounts payable and accrued liabilities 1,917,930 1,211,528
Current portion of capital lease obligation 25,265 29,630
Current portion of unearned revenue and
contract advances 1,525,980 165,012
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3,469,175 1,406,170
Leasehold inducements 287,147 318,261
Capital lease obligation 8,821 27,934
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