Date: Thu, 18 Dec 1997 06:32:09 GMT Server: Stronghold/2.0.1 Apache/1.2.0 Connection: close Content-Type: text/html
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|
|
$ |
$ |
|
| |
Operating Activites |
|
|
Net income for year |
515,149 |
1,303,923 |
Items not affecting cash |
|
|
|
823,200 |
681,025 |
|
500,000 |
-- |
|
578,000 |
532,400 |
|
(14,394) |
(22,554) |
|
|
|
Cash flow from operations
|
2,401,955
|
2,494,794
|
Net change in non-cash working capital [note 12] |
33,185 |
(442,811) |
Cash provided by operating activities |
2,435,140 |
2,051,983 |
|
|
|
Amortization |
823,200 |
681,025 |
Bad debt expense |
348,412 |
244,414 |
Writedown of surplus facilities and equipment [note 4] |
500,000 |
-- |
|
|
|
Financing activities |
|
|
Construction loan borrowings |
7,248,754 |
8,751,246 |
Term loan repayments |
(269,275) |
(225,007) |
Repayment of long term debt [note 6] |
(5,000,000) |
-- |
Share capital issued, net of share issue costs |
5,113,626 |
41,502 |
(Decrease) increase in construction costs payable |
(1,281,187) |
1,281,187 |
|
|
|
Cash provided by financing activities |
5,811,918 |
9,848,928 |
|
|
|
Investing activities |
|
|
Additions to capital assets |
(8,599,290) |
(11,323,613) |
Increase in deferred charges and other assets |
(81,668) |
(33,290) |
Proceeds on disposal of capital assets |
66,188 |
39,997 |
|
|
|
Cash used in investing activites
|
(8,614,770)
|
(11,316,906)
|
|
|
|
Net (decrease) increase in cash |
(367,712) |
584,005 |
Cash position, beginning of year |
218,251 |
(365,754) |
|
|
|
Cash position, end of year |
(149,461) |
218,251 |
|
|
|
See accompanying notes.