| [ | mood |
| | uncomfortable | ] | Included each day along with critical articles about Obama is the "Audacity Watch," the smart-alecky rubric under which they take the Illinois senator to task for some public comment or policy position. exploiting enumeration realest.woodcock.officials,ordinance churchgoing!heated Ponce find ) Consolidated balance sheets As at March 31, 2008 and December 31, 2007 (Unaudited) Audited March 31 December 31 ------------------------------------------------------------------------- 2008 2007 ------------------------------------------------------------------------- $ $ Assets
Current assets Cash and cash equivalents 7,720,541 8,662,634 Restricted cash 1,054,575 1,055,846 Receivables 13,822,823 11,299,053 Deferred contract costs 66,323 66,048 Inventories 544,326 615,430 Prepaid expenses 694,089 418,222 Derivative financial instruments - 12,450 ------------------------------------------------------------------------- 23,902,677 22,129,683
Long term investment 6,750,000 7,200,000 Property and equipment 1,951,958 2,093,671 Goodwill 20,407,126 20,407,126 Intangible assets 8,361,079 8,530,759 Future tax assets 39,196 72,596 ------------------------------------------------------------------------- 61,412,036 60,433,835 ------------------------------------------------------------------------- -------------------------------------------------------------------------
Liabilities
Current liabilities Bank credit facility 5,316,129 10,602,541 Accounts payable and accrued liabilities 16,853,051 15,765,232 Deferred revenue 430,535 349,515 Derivative financial instruments 227,548 - Current portion of long term debt 1,844,226 1,660,518 ------------------------------------------------------------------------- 24,671,489 28,377,806
Interest payable 651,493 651,493 Long-term debt related to long-term investment 7,200,000 - Long-term debt 11,969,747 11,178,087 Future tax liabilities 1,048,250 1,162,791 Pension obligation 400,866 391,650 ------------------------------------------------------------------------- 45,941,845 41,761,827 -------------------------------------------------------------------------
Shareholders' equity
Share capital 55,144,398 55,144,398 Contributed surplus 10,268,723 10,132,726 Deficit (49,942,930) (46,605,116) ------------------------------------------------------------------------- 15,470,191 18,672,008 ------------------------------------------------------------------------- 61,412,036 60,433,835 ------------------------------------------------------------------------- -------------------------------------------------------------------------
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