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Consolidated Statements of Cash Flows
(Unaudited)
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(expressed in Canadian dollars)
Three month period ended
March 31, March 31,
2008 2007
$ $
Cash provided by (used in)
Operating activities
Net loss for the period (5,017,055) (3,228,411)
Add items not affecting cash:
Amortization 493,834 228,058
Stock-based compensation 179,903 179,050
Unrealized foreign exchange loss (gain) 44,011 (21,010)
Non-cash interest expense 18,780 -
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(4,280,527) (2,842,313)
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Change in non-cash working capital and
other balances related to operations 209,916 1,481,767
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Cash used in operating activities (4,070,611) (1,360,546)
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Financing activities
Issuance of capital stock - 15,904,488
Share issue costs (57,884) (1,356,539)
Exercise of stock options 31,750
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