Date: Thu, 18 Dec 1997 06:30:04 GMT Server: Stronghold/2.0.1 Apache/1.2.0 Connection: close Content-Type: text/html BIG ROCK BREWERY: FINANCIAL STATEMENTS

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FINANCIAL STATEMENTS

Big Rock Brewery Ltd.

 

STATEMENT OF CHANGES IN FINANCIAL POSITION

Years ended March 31	
 
                                                             1996	    1995	
                                                              $	  	     $	
                                                          __________     __________
					     	        (Denominated in Canadian Dollars)
 
Operating activities
Net income for year 	    	  			  1,303,923	 1,742,332
Items not affecting cash    
Amortization						    681,025        405,451    
(Gain) loss on disposal of capital assets		    (22,554)	   441,130    
Deferred income taxes					    532,400	   522,000
Net change in non-cash working capital [note 14]	   (442,811)	(1,333,187)	
							 ___________	 __________
Cash provided by operating activities			  2,051,983	 1,777,726	
							 ___________	 __________	
 
Financing activities
Construction loan borrowings				  8,751,246	        --
Term loan repayments					   (225,007)	  (292,426)
Term loan borrowings					         --	 1,300,000
Advances (repayments) under demand operating loans, net	   (365,754)	   365,754
Share capital issued					     41,502	    40,000
Increase in construction costs payable			  1,281,187	        --	
							 ___________	 __________
Cash provided by financing activities			  9,483,174	 1,413,328	
							 ___________	 __________
 
Investing activities
Additions to capital assets				(11,323,613)	(3,681,936)
Increase in deferred charges and other assets		    (33,290)	   (19,535)
Proceeds on disposal of capital assets			     39,997	   198,457	
							 ___________	 __________
Cash used in investing activities			(11,316,906)	(3,503,014)	
							 ___________	 __________
Net increase (decrease) in cash 			    218,251	  (311,960)
Cash, beginning of year 				         --	   311,960	
							 ___________	 __________
Cash, end of year					    218,251	        --	
							 ___________	 __________	
							 ___________	 __________
 
See accompanying notes.

This Annual Report
Financial Highlights | Report to Shareholders
Management Discussion and Analysis | Auditors' Report
Financial Statements and Notes | Corporate Information


Big Rock Brewery
5555 76th Ave S.E., Calgary, Alberta, Canada, Phone: 403-720-3239, Fax: 403-236-7523
ale@bigrockbeer.com

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