DiaMedica Therapeutics Inc. (DMAC)
DiaMedica Therapeutics Inc. operates as a clinical-stage biopharmaceutical entity dedicated to advancing therapeutic solutions for neurological and renal disorders. Its primary drug candidate, DM199, a recombinant human tissue kallikrein-1 protein, is currently undergoing a Phase 2 REDUX trial to assess its efficacy in treating moderate to severe chronic kidney disease linked to Type 1 or Type 2 diabetes. Furthermore, DM199 is being evaluated in Phase 2/3 REMEDY2 trials for acute ischemic stroke patients. In addition to DM199, the company is also developing DM300, which is in its pre-clinical stage for the treatment of various inflammatory conditions. Founded in 2000 and headquartered in Minneapolis, Minnesota, the company was previously known as DiaMedica Inc. before adopting its current name, DiaMedica Therapeutics Inc., in December 2016.
Sector: Pharmaceutical Preparations
Industry: Biotechnology
DiaMedica Therapeutics Inc.
NASDAQ:DMACHealthcare · Biotechnology
-2.84%$9.25
AH$9.25+0.00%vs close
Mkt Cap$498.81M
Float24.33M
O/S53.93M
Vol
$ Vol
RVOL
Inst Own23.1%
SI21.6%
Earnings
Dilution
Financials Summary
Revenue$0
Net Income-$32.77M
Total Assets$61.37M
Free Cash Flow-$29.1M
Debt & Equity
Debt 0%
Equity 100%
Total Debt$240K
Total Equity$56.11M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in DMAC's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$61.37M
Liabilities$5.26M
Accounts Receivable$258K
Accounts Payable$1.48M
Inventory$0
PP&E (Net)$342K
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 | FY 2004 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 | 2005-12-31 | 2004-12-31 |
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $500K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $161K | $26K | $26K | $34K |
| YoY Growth | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 524.1% | 0.2% | -24.2% | - |
| Cost of Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $4K | $2K | $4K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Gross Profit | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $500K | -$4K | -$2K | -$4K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $161K | $26K | $26K | $34K |
| Gross Margin | - | - | - | - | - | - | - | 100.0% | - | - | - | - | - | - | - | - | - | - | 100.0% | 100.0% | 100.0% | 100.0% |
| Research and Development | $24.61M | $19.06M | $13.11M | $7.84M | $8.77M | $8.21M | $7.9M | $4.52M | $3.21M | $1.76M | $886K | $3.71M | $3.78M | $5.21M | $2.33M | $804K | $1.37M | $1.04M | $1.07M | $617K | $23K | $462K |
| Selling, General, and Administrative | $9.78M | $7.62M | $8.16M | $6.16M | $4.88M | $4.49M | $3.69M | $2.74M | $1.31M | $718K | $423K | $1.12M | $2.54M | $2.53M | $2.08M | $1.3M | $1M | $619K | $1.38M | $192K | $178K | $169K |
| Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $6K | $0 | $3K | $0 | $0 | $0 | $0 | $0 | $7K | -$5K | $0 | $0 | $0 | $0 |
| Total Operating Expenses | $34.4M | $26.68M | $21.27M | $14M | $13.65M | $12.7M | $11.59M | $7.26M | $4.28M | $2.48M | $1.31M | $4.83M | $7.43M | $10.11M | $6.71M | $3.84M | $2.4M | $1.69M | $2.47M | $813K | $229K | $637K |
| Operating Income (EBIT) | -$34.4M | -$26.68M | -$21.27M | -$14M | -$13.65M | -$12.7M | -$11.59M | -$6.76M | -$4.52M | -$2.48M | -$1.31M | -$4.83M | -$7.43M | -$10.11M | -$6.71M | -$3.84M | -$2.4M | -$1.69M | -$2.31M | -$787K | -$203K | -$603K |
| Operating Margin | - | - | - | - | - | - | - | -1352.2% | - | - | - | - | - | - | - | - | - | - | -1438.0% | -3058.7% | -790.6% | -1781.0% |
| Interest Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $48K | $44K | $0 | $8K | $3K | $13K | $0 | $0 | $0 | $0 | $0 | $8K | $37K |
| Interest Income | $0 | $2.3M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $2K | $2K | $11K | $15K | $41K | $51K | $0 | $0 | $0 | $0 | $0 | $0 | -$0 |
| Other Income (Expense) | $1.66M | $2.27M | $1.93M | $353K | $82K | $434K | $975K | $747K | $259K | $281K | -$104K | -$185K | -$231K | $38K | -$174K | -$423K | $101K | -$168K | $57K | -$12K | $10K | $67K |
| Income Before Tax (EBT) | -$32.74M | -$24.41M | -$19.34M | -$13.65M | -$13.56M | -$12.27M | -$10.62M | -$5.65M | -$4.26M | -$2.2M | -$1.43M | -$4.78M | -$7.41M | -$10.05M | -$6.61M | -$4.27M | -$2.44M | -$1.85M | -$2.31M | $0 | -$193K | -$570K |
| Income Tax Expense | $28K | $30K | $43K | $28K | $28K | $27K | $31K | $80K | -$9K | $22K | $12K | $42K | $8K | -$3K | $13K | $499K | $42K | $163K | $20K | -$9K | $18K | $70K |
| Net Income | -$32.77M | -$24.44M | -$19.38M | -$13.68M | -$13.59M | -$12.29M | -$10.65M | -$5.73M | -$4.26M | -$2.22M | -$1.44M | -$4.82M | -$7.41M | -$10.05M | -$6.61M | -$4.27M | -$2.44M | -$1.85M | -$2.33M | -$778K | -$211K | -$640K |
| Net Income Margin | - | - | - | - | - | - | - | -1146.8% | - | - | - | - | - | - | - | - | - | - | -1452.8% | -3023.0% | -820.1% | -1889.0% |
| Supplementary Data | ||||||||||||||||||||||
| EPS | -0.70 | -0.60 | -0.60 | -0.52 | -0.65 | -0.78 | -0.89 | -0.74 | -0.72 | -0.47 | -0.40 | -1.55 | -2.71 | -4.11 | -2.93 | -2.98 | -2.54 | -2.04 | -2.91 | -0.89 | -0.24 | -0.02 |
| Diluted EPS | -0.70 | -0.60 | -0.60 | -0.52 | -0.65 | -0.78 | -0.89 | -0.74 | -0.72 | -0.47 | -0.40 | -1.55 | -2.71 | -4.11 | -2.93 | -2.98 | -2.54 | -2.04 | -2.91 | -0.89 | -0.24 | -0.02 |
| Weighted Average OS | 46.98M | 40.40M | 32.57M | 26.44M | 20.77M | 15.68M | 11.99M | 7.74M | 5.94M | 4.74M | 3.62M | 3.11M | 2.73M | 2.45M | 2.26M | 1.43M | 960,478 | 909,716 | 802,304 | 876,028 | 876,028 | 27.22M |
| EBITDA | -$32.7M | -$24.38M | -$19.31M | -$13.62M | -$13.54M | -$12.68M | -$11.57M | -$5.64M | -$4.26M | -$2.15M | -$1.5M | -$5.01M | -$6.51M | -$7.7M | -$4.51M | -$3.32M | -$2.27M | -$2.34M | -$2.29M | -$784K | -$190K | -$630K |
| EBITDA Margin | - | - | - | - | - | - | - | -1127.8% | - | - | - | - | - | - | - | - | - | - | -1426.6% | -3045.8% | -740.9% | -1860.3% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 | FY 2004 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 | 2005-12-31 | 2004-12-31 |
| Assets | ||||||||||||||||||||||
| Current Assets | ||||||||||||||||||||||
| Cash and Cash Equivalents | $15.65M | $3.02M | $4.54M | $4.73M | $4.71M | $7.41M | $3.88M | $16.82M | $1.35M | $1.74M | $166K | $204K | $2.52M | $2.34M | $2.65M | $2.84M | $630K | $2.47M | $3.5M | $270K | $275K | $8K |
| Short-Term Investments | $44.24M | $41.12M | $48.35M | $28.77M | $40.41M | $20.1M | $4M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $59.89M | $44.15M | $52.9M | $33.5M | $45.11M | $27.51M | $7.88M | $16.82M | $1.35M | $1.74M | $166K | $204K | $2.52M | $2.34M | $2.65M | $2.84M | $630K | $2.47M | $3.5M | $270K | $275K | $8K |
| Accounts Receivable | $258K | $236K | $369K | $82K | $0 | $0 | $823K | $646K | $80K | $52K | $10K | $8K | $0 | $0 | $50K | $221K | $48K | $31K | $96K | $57K | $30K | $20K |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1 | -$0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1 | $2 | $0 |
| Other Current Assets | $481K | $227K | $0 | $0 | $243K | $350K | $47K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Current Assets | $60.63M | $44.61M | $53.67M | $33.84M | $45.44M | $27.92M | $8.84M | $17.97M | $1.49M | $1.85M | $208K | $266K | $2.62M | $2.46M | $2.74M | $3.14M | $695K | $2.54M | $3.65M | $337K | $318K | $28K |
| Long-Term Assets | ||||||||||||||||||||||
| Property, Plant & Equipment Net | $342K | $427K | $485K | $560K | $112K | $174K | $217K | $96K | $37K | $19K | $14K | $16K | $20K | $7K | $7K | $9K | $88K | $100K | $154K | $13K | $16K | $20K |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $269K | $1.38M | $3.58M | $5.93M | $463K | $357K | $536K | $357K | $228K | $169K |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $400K | $1.31M | $0 | $0 | $0 | $0 | $0 | $271K | $271K | $0 | -$0 | $0 | $0 | -$0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Long-Term Assets | $742K | $1.74M | $485K | $560K | $112K | $174K | $217K | $367K | $308K | $19K | $14K | $16K | $289K | $1.38M | $3.59M | $5.94M | $551K | $457K | $690K | $370K | $244K | $189K |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $61.37M | $46.34M | $54.16M | $34.4M | $45.55M | $28.09M | $9.05M | $18.34M | $1.8M | $1.87M | $222K | $282K | $2.91M | $3.85M | $6.33M | $9.08M | $1.25M | $3M | $4.34M | $707K | $563K | $216K |
| Liabilities | ||||||||||||||||||||||
| Current Liabilities | ||||||||||||||||||||||
| Accounts Payable | $1.48M | $940K | $926K | $734K | $509K | $1.1M | $182K | $483K | $513K | $250K | $674K | $960K | $372K | $1.13M | $139K | $0 | $0 | $0 | $272K | $53K | $56K | $665K |
| Short-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $60K | $0 | $0 | $0 | $261K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $168K |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $34K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $34K | $0 | -$200K | $33K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $1.38M | $1.06M | $766K | $667K | $484K | $0 | $657K | $417K | $439K | $98K | -$264K | -$999K | $197K | $59K | $0 | $554K | $198K | $218K | $0 | $0 | $0 | $443K |
| Total Current Liabilities | $5.13M | $5.39M | $2.79M | $2.17M | $1.52M | $2.03M | $1.32M | $1.3M | $1M | $627K | $1.06M | $1.81M | $1.52M | $1.58M | $365K | $554K | $198K | $218K | $272K | $53K | $56K | $1.28M |
| Long-Term Liabilities | ||||||||||||||||||||||
| Long-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $18K | $0 | $0 | $389K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$18K | $0 | $0 | -$1K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Long-Term Liabilities | $128K | $237K | $317K | $400K | $3K | $53K | $118K | $18K | $0 | $0 | $388K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $5.26M | $5.63M | $3.1M | $2.57M | $1.53M | $2.08M | $1.44M | $1.31M | $1M | $627K | $1.45M | $1.81M | $1.52M | $1.58M | $365K | $554K | $198K | $218K | $272K | $53K | $56K | $1.28M |
| Stockholders' Equity | ||||||||||||||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $40.99M | $28.05M | $32K | $34K | $30K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Retained Earnings | -$172.77M | -$140M | -$115.56M | -$96.18M | -$82.5M | -$68.91M | -$56.62M | -$45.97M | -$40.23M | -$46.71M | -$33.95M | -$38.86M | -$37.12M | -$31.8M | -$21.19M | -$14.9M | -$10.16M | -$6.64M | -$5.89M | -$3.02M | -$2.25M | -$1.97M |
| Comprehensive Income & Other | $50K | $23K | $6K | -$74K | -$51K | -$2K | $2K | -$24K | $611K | $587K | -$21K | -$20K | -$19K | -$16K | -$11K | -$8K | -$95K | -$57K | $91K | -$23K | -$20K | $14K |
| Other Stockholders' Equity | $228.88M | $180.72M | $166.62M | $128M | $126.53M | $94.92M | $64.23M | $62.99M | $41.03M | $6.96M | $4.67M | $37.3M | $38.47M | $34.03M | $27.15M | $23.42M | $11.21M | $9.42M | $9.95M | $3.67M | $2.76M | $910K |
| Total Equity | $56.11M | $40.72M | $51.06M | $31.83M | $44.02M | $26.01M | $7.62M | $17.02M | $799K | $1.25M | -$1.23M | -$1.53M | $1.38M | $2.26M | $5.96M | $8.52M | $1.05M | $2.78M | $4.06M | $654K | $506K | -$1.06M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $61.37M | $46.34M | $54.16M | $34.4M | $45.55M | $28.09M | $9.05M | $18.34M | $1.8M | $1.87M | $222K | $282K | $2.91M | $3.85M | $6.33M | $9.08M | $1.25M | $3M | $4.34M | $707K | $563K | $216K |
| Supplementary Data | ||||||||||||||||||||||
| Total Debt | $240K | $340K | $400K | $469K | $52K | $118K | $178K | $23K | $0 | $200K | $649K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $168K |
| Net Debt | -$15.41M | -$2.69M | -$4.14M | -$4.26M | -$4.66M | -$7.29M | -$3.71M | -$16.8M | -$1.35M | -$1.54M | $484K | -$204K | -$2.52M | -$2.34M | -$2.65M | -$2.84M | -$630K | -$2.47M | -$3.5M | -$270K | -$275K | $161K |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 | FY 2004 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 | 2005-12-31 | 2004-12-31 |
| Operating Activities | ||||||||||||||||||||||
| Net Income | -$32.77M | -$24.44M | -$19.38M | -$13.68M | -$13.59M | -$12.29M | -$10.65M | -$5.73M | -$4.26M | -$2.22M | -$1.44M | -$4.82M | -$7.41M | -$10.05M | -$6.61M | -$4.27M | -$2.44M | -$1.85M | -$2.33M | -$778K | -$211K | -$640K |
| Depreciation & Amortization | $43K | $39K | $30K | $25K | $24K | $21K | $21K | $15K | $4K | $2K | $4K | $2K | $1.11M | $2.37M | $2.3M | $1.67M | $30K | $27K | $18K | $3K | $28K | $6K |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $85K | -$170K | $22K | -$343K | -$705K | -$1.03M | $0 | -$218K | -$252K | -$155K | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $3.85M | $2.08M | $1.68M | $1.5M | $1.56M | $1.84M | $1.16M | $620K | $409K | $263K | $125K | $343K | $705K | $1.03M | $0 | $294K | $252K | $155K | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | ||||||||||||||||||||||
| Accounts Receivable | -$22K | $133K | -$287K | $48K | $210K | $483K | -$43K | -$700K | -$27K | -$42K | -$3K | $5K | $5 | $31 | $0 | -$171K | -$12K | $47K | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$372K | -$756K | -$32K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $535K | $14K | $192K | $225K | -$590K | $917K | -$301K | $372K | $248K | -$599K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Working Capital | $162K | $1.36M | $188K | $312K | -$81K | -$205K | $731K | $64K | $491K | -$245K | -$53K | $433K | $67K | $1.17M | $36K | $22K | -$24K | -$5K | $143K | -$26K | -$655K | $500K |
| Total Working Capital Change | $675K | $1.51M | $93K | $585K | -$461K | $1.2M | $387K | -$636K | -$44K | -$918K | -$53K | $438K | $67K | $1.17M | $36K | -$149K | -$36K | $42K | $143K | -$26K | -$655K | $500K |
| Other Non-Cash Items | -$860K | -$1.27M | -$1.15M | $53K | $219K | $48K | -$25K | $39K | -$94K | $23K | -$22K | $622K | $734K | $1.03M | $833K | $294K | $294K | $319K | $959K | $0 | $6K | $34K |
| Net Cash from Operating | -$29.06M | -$22.08M | -$18.73M | -$11.51M | -$12.25M | -$9.19M | -$9.1M | -$5.7M | -$3.9M | -$3.02M | -$1.37M | -$3.76M | -$5.5M | -$5.48M | -$3.44M | -$2.38M | -$2.15M | -$1.47M | -$1.21M | -$801K | -$831K | -$99K |
| Investing Activities | ||||||||||||||||||||||
| Capital Expenditures | -$40K | -$25K | -$24K | -$81K | -$22K | -$47K | -$2K | -$50K | -$22K | -$7K | -$5K | -$31K | -$134K | -$63K | -$79K | -$58K | -$92K | -$85K | -$296K | -$109K | -$77K | -$103K |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $2K | $0 | $0 | $0 | $0 | $0 | $149 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | -$59.28M | -$50.41M | -$69.41M | -$45.68M | -$69.81M | -$39.75M | -$12.92M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $57.13M | $59M | $51.13M | $57.3M | $49.3M | $23.64M | $9M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $0 | $0 | $0 | $0 | $2K | $16K | $13K | $0 | $0 | $1 | $0 | -$31 | -$117 | -$59 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Investing | -$2.19M | $8.56M | -$18.3M | $11.54M | -$20.54M | -$16.13M | -$3.91M | -$50K | -$22K | -$7K | -$5K | -$31K | -$134K | -$63K | -$79K | -$58K | -$92K | -$85K | -$296K | -$109K | -$77K | -$103K |
| Financing Activities | ||||||||||||||||||||||
| Debt Repaid | $10K | $9K | $6K | $6K | $6K | $5K | $5K | - | - | - | - | - | - | - | - | - | - | - | - | - | $167K | -$135K |
| Common Stock Issuance | $44.29M | $11.75M | $36.85M | $0 | $29.85M | $28.8M | $0 | $20.57M | $2.92M | $4.12M | $1.5M | $1.61M | $5.89M | $283K | $3.18M | $1.79M | $0 | $1.17M | $4.69M | $906K | $1.35M | $25K |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | -$400K | $256K | $0 | $0 | $244K | $45K | $75K | $650K | $622K | $471K | -$23K | $152K | $95K | $5.16M | $212K | $2.82M | $0 | $0 | $0 | $0 | -$0 | $0 |
| Net Cash from Financing | $43.88M | $11.99M | $36.84M | -$6K | $30.09M | $28.84M | $70K | $21.22M | $3.54M | $4.59M | $1.37M | $1.68M | $5.97M | $5.17M | $3.39M | $4.61M | $0 | $1.17M | $4.69M | $906K | $1.18M | $160K |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $67K | $8K | $0 | $0 | -$0 | $0 | -$0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $12.62M | -$1.52M | -$185K | $21K | -$2.7M | $3.53M | -$12.94M | $15.47M | -$383K | $1.57M | -$5K | -$2.11M | $335K | -$382K | -$127K | $2.18M | -$2.24M | -$381K | $3.18M | -$4K | $267K | -$43K |
| Supplementary Data | ||||||||||||||||||||||
| Operating Cash Flow | -$29.06M | -$22.08M | -$18.73M | -$11.51M | -$12.25M | -$9.19M | -$9.1M | -$5.7M | -$3.9M | -$3.02M | -$1.37M | -$3.76M | -$5.5M | -$5.48M | -$3.44M | -$2.38M | -$2.15M | -$1.47M | -$1.21M | -$801K | -$831K | -$99K |
| Capital Expenditure | -$40K | -$25K | -$24K | -$81K | -$22K | -$47K | -$2K | -$50K | -$22K | -$7K | -$5K | -$31K | -$134K | -$63K | -$79K | -$58K | -$92K | -$85K | -$296K | -$109K | -$77K | -$103K |
| Free Cash Flow | -$29.1M | -$22.1M | -$18.75M | -$11.59M | -$12.27M | -$9.23M | -$9.1M | -$5.75M | -$3.92M | -$3.03M | -$1.37M | -$3.79M | -$5.64M | -$5.55M | -$3.52M | -$2.43M | -$2.24M | -$1.55M | -$1.51M | -$910K | -$908K | -$203K |
| Cash at Beginning | $3.02M | $4.54M | $4.73M | $4.71M | $7.41M | $3.88M | $16.82M | $1.35M | $1.74M | $166K | $170K | $2.31M | $2.19M | $2.72M | $2.78M | $659K | $2.87M | $2.85M | $317K | $274K | $8K | $51K |
| Cash at End | $15.65M | $3.02M | $4.54M | $4.73M | $4.71M | $7.41M | $3.88M | $16.82M | $1.35M | $1.74M | $166K | $204K | $2.52M | $2.34M | $2.65M | $2.84M | $630K | $2.47M | $3.5M | $270K | $275K | $8K |