The accompanying notes are an integral part of these consolidated financial statements.
Advantex Marketing International Inc.Consolidated Statements of Cash FlowFor the six months ended December 31, 2012 and December 31, 2011 - (unaudited)(expressed in Canadian dollars)---------------------------------------------------------------------------- 31-12-2012 31-12-2011---------------------------------------------------------------------------- $ $----------------------------------------------------------------------------Cash flow provided by (used in)----------------------------------------------------------------------------Operating activities----------------------------------------------------------------------------Net income for the period $397,901 $508,113----------------------------------------------------------------------------Adjustments for:---------------------------------------------------------------------------- Write-off of investment 100,000 ----------------------------------------------------------------------------- Depreciation of property, plant and equipment, and intangibles 246,120 194,403---------------------------------------------------------------------------- Stock-based compensation - 2,555---------------------------------------------------------------------------- Accretion charge for debentures 291,280 265,662---------------------------------------------------------------------------- 1,035,301 970,733----------------------------------------------------------------------------Changes in items of working capital---------------------------------------------------------------------------- Accounts receivable (197,817) (221,717)---------------------------------------------------------------------------- Transaction credits (611,176) (692,454)---------------------------------------------------------------------------- Inventory 86,690 66,451---------------------------------------------------------------------------- Prepaid expenses and sundry assets (273,408) (27,724)---------------------------------------------------------------------------- Accounts payable and accrued liabilities (396,003) 473,249---------------------------------------------------------------------------- (1,391,714) (402,195)----------------------------------------------------------------------------Net cash provided by (used in) operating activities (356,413) 568,538--------------------------------------------------------------------------------------------------------------------------------------------------------Investing activities----------------------------------------------------------------------------Purchase of property, plant and equipment, and intangibles (380,191) (136,169)----------------------------------------------------------------------------Net cash used in investing activities (380,191) (136,169)--------------------------------------------------------------------------------------------------------------------------------------------------------Financing activities----------------------------------------------------------------------------(Repayment of)/proceeds from loan payable (185,800) 994,788----------------------------------------------------------------------------Partial prepayment of debentures (376,033) -----------------------------------------------------------------------------Debenture partial prepayment / renewal - additional transaction costs (8,700) (37,088)----------------------------------------------------------------------------Net cash (used in) generated from financing activities (570,533) 957,700--------------------------------------------------------------------------------------------------------------------------------------------------------Increase (decrease) in cash and cash equivalents during the period $(1,307,137) $1,390,069---------------------------------------------------------------------------- - From continuing operations (1,235,168) 1,427,323---------------------------------------------------------------------------- - From discontinued operations (note 17) (71,969) (37,254)----------------------------------------------------------------------------Increase (decrease) in cash and cash equivalents during the period $(1,307,137) $1,390,069----------------------------------------------------------------------------Cash and cash equivalents, including bank indebtedness - Beginning of period 1,084,773 (78,262)----------------------------------------------------------------------------Cash and cash equivalents, including bank indebtedness - End of period (222,364) 1,311,807----------------------------------------------------------------------------Additional Information--------------------------------------------Interest paid $1,041,584 $892,103For purposes of the cash flow statement, cash comprises:Cash / (Bank indebtedness) $(227,364) $1,306,807Term deposits $ 5,000 $5,000 -------------------------------- $(222,364) $1,311,807 --------------------------------
The accompanying notes are an integral part of these consolidated financial statements.
Contacts:
Advantex Marketing International Inc.
Kelly Ambrose
President and Chief Executive Officer
905-470-9558 ext. 280
[email protected]
