The information rics quoted was found in Item #13 entitled "Subsequent Events" in the "Notes to the Financial Statements" section of the annual report of April 30, 1998, listed as "Audited Annual Financial Statements—English." This financial statement and others are found at SEDAR (which is apparently the Canadian version of EDGAR), the URL of which you posted in message #1926.
The most recent filing, "Interim Financial Statement—English," is the quarterly report for July 31, 1998. Parenthetically, year end is April 30, so the quarters end in July, October, and January. Dollar amounts in the reports refer to Canadian dollars. One new item for 1998 under Current Assets is "Capitalized film production costs" of $2,770,526. I wonder if this was money spent to make "Speedway." I suspect this item will be amortized over the expected productive run of the film.
Under Shareholders' Equity is a somewhat confusing item entitled "Common stock, unlimited shares authorized 99,040,793 and 31,119,584 shares issued and outstanding." Associated dollar amount is $16,393,041.
Three months of operating expenses were $728,522. This implies an annual cash burn rate of about $2.6 million {$728,522 less $82,035 (deprec.) x 4}. This amount doesn't include any movie production costs, so this appears to be the basic cost of running the company outside of making movies.
Comments welcome.
Regards, Suzanne
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