Annual reports filed by certain Canadian issuers pursuant to Section 15(d) and Rule 15d-4

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows
$ in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2017
USD ($)
Dec. 31, 2016
USD ($)
Dec. 31, 2015
USD ($)
Cash flows from operating activities:      
Net loss for the year $ (11,661) $ (14,240) $ (11,711)
Items not involving cash:      
Stock-based compensation 817 1,706 2,500
Depreciation and amortization 84 116 75
Interest income (68) (79) (226)
Unrealized foreign exchange loss (7) 233 (726)
Interest and accretion expense 34
Change in non-cash operating working capital (note 6) 544 (126) 163
Cash used in operating activities (10,291) (12,390) (9,891)
Cash flows from financing activities:      
Issuance of common shares under the ATM, net of issuance costs (note 9(b)(ii)) 13,394 5,726 8
Issuance of common shares under share purchase agreement, net of issuance costs (note 9(b)(i)) 324
Exercise of warrants, options and DSU’s (note 9) 798
Interest paid on notes and loans 0 0 (21)
Cash provided by financing activities 13,718 5,726 785
Cash flows from (used in) investing activities:      
Maturity (acquisition) of investments (798) 6,401 6,205
Purchase of equipment (13) (3) (258)
Interest received 68 79 226
Cash provided by (used in) investing activities (743) 6,477 6,173
Effect of exchange rate fluctuations on cash and cash equivalents held 7 (184) (1,139)
Increase (decrease) in cash and cash equivalents 2,691 (371) (4,072)
Cash and cash equivalents, beginning of year 7,940 8,311 12,383
Cash and cash equivalents, end of year $ 10,631 $ 7,940 $ 8,311