$38,909, $82,573, $21,396, $109,670, $34,671, $222,376, $36,833, and
(4) We issued 4,600,000 common shares for net cash proceeds of
$12,063,394 during 2007 (2006 - 284,000 common shares for cash
proceeds of $241,400; 2005 - 4,321,252 common shares for cash
proceeds of $18,789,596).
(5) The long-term debt recorded represents repayable loans from the
Alberta Heritage Foundation. On January 1, 2007, in conjunction with
the adoption of the CICA Handbook section 3855 "Financial
Instruments", this loan was recorded at fair value (see note 1 of the
September 30, 2007 interim financial statements).
(6) We have not declared or paid any dividends since incorporation.
LIQUIDITY AND CAPITAL RESOURCES
As at September 30, 2007, we had cash and cash equivalents (including short-term investments) and working capital positions of $28,191,464 and $26,343,848, respectively compared to $27,613,748 and $25,719,870, respectively for December 31, 2006. The increase in 2007 reflects the cash inflow from financing activities of $12,063,394 offset by cash usage from operating activities and additions to our intellectual property of $10,849,863 and $586,124, respectively.
We desire to maintain adequate cash and short-term investment reserves
to support our planned activities which include our clinical trial program,
product manufacturing, administrative costs, and our intellectual property
expansion and protection. For the remainder of 2007, we are expecting to
continue to enroll patients in our existing trials and we also expect to
expand our clinical trial program. As well, we expect to continue with our
collaborative studies pursuing support for our future clinical trial
program. We will therefore need to ensure that we have enough REOLYSIN(R)
to supply our clinical trial and collaborative programs. We continue to
expect our cash usage i
|SOURCE Oncolytics Biotech Inc.|
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