<<
ZI CORPORATION
CONSOLIDATED BALANCE SHEETS
(unaudited) (audited) (unaudited)
31-Mar-01 31-Dec-00 31-Mar-00
------------------------------------------------------------------------
Assets
Current assets
Cash and cash equivalents $43,715,481 $46,891,866 $54,503,981
Short-term investments - - 7,359,342
Accounts receivable 2,198,965 3,265,301 1,099,757
Prepayments and deposits 1,553,798 1,244,111 742,086
------------------------------------------------------------------------
47,468,244 51,401,278 63,705,166
Capital assets - net 3,224,118 2,984,978 960,376
Intangible assets - net (note 2) 9,137,154 8,467,096 3,359,882
------------------------------------------------------------------------
$59,829,516 $62,853,352 $68,025,424
------------------------------------------------------------------------
------------------------------------------------------------------------
Liabilities and shareholders' equity
Current liabilities
Accounts payable and accrued
liabilities $2,820,448 $2,658,223 $1,225,561
Deferred revenue - 140,975
Current portion of capital
lease obligations 149,814 152,948 -
------------------------------------------------------------------------
2,970,262 2,952,146 1,225,561
Capital lease obligations 220,551 238,066 -
------------------------------------------------------------------------
3,190,813 3,190,212 1,225,561
------------------------------------------------------------------------
------------------------------------------------------------------------
Shareholders' equity
Share capital 91,993,823 91,975,823 89,163,085
Deficit (35,355,120) (32,312,683) (22,363,220)
------------------------------------------------------------------------
56,638,703 59,663,140 66,799,865
------------------------------------------------------------------------
$59,829,516 $62,853,352 $68,025,426
------------------------------------------------------------------------
------------------------------------------------------------------------
ZI CORPORATION
CONSOLIDATED STATEMENTS OF LOSS AND DEFICIT
3 months ended
------------------------------
(UNAUDITED) 31-Mar-01 31-Mar-00
-------------------------------------------------------------------------
Revenue
License & implementation fees $ 1,151,163 $ 637,690
Engineering Services 94,268 34,218
Other product revenue 77,114 547
------------------------------
1,322,545 672,455
Cost of sales
License & implementation fees 223,208 114,904
Engineering Services 38,535 35,307
------------------------------
261,743 150,211
------------------------------
Gross margin 1,060,802 522,244
------------------------------
Selling general and administrative (4,803,383) (1,565,775)
Product research and development (1,251,926) (1,395,516)
Depreciation and amortization (777,455) (548,013)
Foreign exchange gain 1,997,339 293,335
Interest income and other income 732,186 685,122
------------------------------
Net loss (3,042,437) (2,008,603)
Deficit, beginning of year (32,312,683) (20,354,617)
------------------------------
Deficit, end of period $(35,355,120) $(22,363,220)
------------------------------
------------------------------
Earning (loss) per share $ (0.08) $ (0.06)
------------------------------
------------------------------
Weighted average common shares 37,032,978 36,060,845
------------------------------
------------------------------
ZI CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
3 months ended
------------------------------
(UNAUDITED) 31-Mar-01 31-Mar-00
-------------------------------------------------------------------------
Operating activities:
Net earnings (loss) $ (3,042,437) $ (2,008,603)
Add: items not affecting cash:
Loss (gain) on dispositions of
capital assets (20,983) 4,784
Depreciation and amortization 777,455 548,013
------------------------------
Funds applied to operations (2,285,965) (1,455,806)
Decrease (increase) in non-cash working
capital 777,899 1,109,295
------------------------------
Cash flow applied to operations (1,508,066) (346,511)
------------------------------
Financing activities:
Proceeds from issuance of common shares 18,000 35,836,405
Payment of capital lease obligations (37,000) -
------------------------------
(19,000) 35,836,405
------------------------------
Investing activities:
Short-term investments - (1,247,356)
Purchase of capital assets (354,846) (378,532)
Acquisition of subsidiaries net of
cash acquired - -
Proceeds from capital dispositions - 7,042
Deferred development costs (1,353,547) (886,804)
Other deferred costs (793) -
------------------------------
(1,709,186) (2,505,649)
------------------------------
Net cash inflow (3,236,252) 32,984,245
Cash and cash equivalents,
at the beginning of period 46,891,866 21,519,737
------------------------------
Cash and cash equivalents,
at the end of the period $ 43,655,614 $ 54,503,982
------------------------------
------------------------------
Non cash financing activity
Equipment acquired under capital lease $ 16,351 $ -
------------------------------
>> |
