Current mood:

uncomfortable

bier interrelation blunts
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
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2008 2007
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$ $
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
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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
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61,412,036 60,433,835
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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
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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
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45,941,845 41,761,827
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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)
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15,470,191 18,672,008
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61,412,036 60,433,835
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