Consolidated Statement of Cash Flows for the year ended December 31, 2008
(in thousands of dollars)
| 2008 | 2007 | |
|---|---|---|
| $ | $ | |
Cash provided by (used in) |
||
Operating activities |
||
| Deficiency of revenue over expenses for the year | (1,320) | (618) |
| Add (deduct): Non-cash items reflected in operations | ||
| Amortization of property and equipment | 1,208 | 1,194 |
| Amortization of deferred election costs | 113 | 113 |
| Amortization of deferred lease inducements | (198) | (198) |
| Amortization of deferred capital contribution | (225) | (226) |
| Changes in non-cash working capital items | ||
| Accounts receivable | 58 | (94) |
| Prepaid expenses | (67) | (61) |
| Accounts payable and accrued liabilities | 684 | (169) |
| Deferred revenue | 480 | (332) |
| 733 | (391) | |
Investing activities |
||
| Net purchases of short-term investments | 625 | 1,054 |
| Purchase of property and equipment | (1,029) | (707) |
| (404) | 347 | |
Increase (decrease) in cash during the year |
329 | (44) |
Cash – Beginning of year |
717 | 761 |
Cash – End of year |
1,046 | 717 |