AMARC RESOURCES LTD (AXREF)
Amarc Resources Ltd. is a Canadian firm specializing in the acquisition, exploration, and development of mineral properties throughout Canada. The company primarily focuses on discovering deposits rich in copper, gold, silver, and molybdenum. Among its wholly-owned assets are three significant projects: the IKE project, which spans 462 square kilometers in the Gold Bridge area of south-central British Columbia; the DUKE project, an extensive 704-square-kilometer site located northeast of Smithers in central British Columbia; and the JOY project, encompassing 482 square kilometers within British Columbia's Toodoggone region. Established in 1993 and headquartered in Vancouver, Canada, the company adopted its present name, Amarc Resources Ltd., in January 1994, having previously operated as Patriot Resources Ltd.
Sector: Gold and Silver Ores
Industry: Other Precious Metals
Amarc Resources Ltd.
OTC:AXREFBasic Materials · Industrial Materials
+0.45%$0.6549
Mkt Cap$147.59M
Float162.47M
O/S225.38M
Inst Own-
SI0.1%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$0
Net Income-$663K
Total Assets$1.46M
Free Cash Flow$144K
Debt & Equity
Debt 339%
Total Debt$751K
Total Equity-$530K
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in AXREF's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$1.46M
Liabilities$1.99M
Accounts Receivable$0
Accounts Payable$213K
Inventory$0
PP&E (Net)$1K
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2026 | 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 | FY 2003 | FY 2002 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2026-03-31 | 2025-03-31 | 2024-03-31 | 2023-03-31 | 2022-03-31 | 2021-03-31 | 2020-03-31 | 2019-03-31 | 2018-03-31 | 2017-03-31 | 2016-03-31 | 2015-03-31 | 2014-03-31 | 2013-03-31 | 2012-03-31 | 2011-03-31 | 2010-03-31 | 2009-03-31 | 2008-03-31 | 2007-03-31 | 2006-03-31 | 2005-03-31 | 2004-03-31 | 2003-03-31 | 2002-03-31 |
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| YoY Growth | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Cost of Revenue | $14K | $14K | $14K | $14K | $13K | $0 | $0 | $0 | $0 | $0 | $36K | $0 | -$88K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Gross Profit | -$14K | -$14K | -$14K | -$14K | -$13K | $0 | $0 | $0 | $0 | $0 | -$36K | $0 | $87K | $0 | $0 | $0 | $0 | $0 | $2.19M | $0 | $0 | $0 | $0 | $0 | $0 |
| Gross Margin | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $1.49M | $3.99M | $9.73M | $779K | $531K | $462K | $640K | $651K | $751K | $522K | $919K | $1.05M | $1.8M | $1.61M | $1.8M | $899K | $623K | $663K | $528K | $427K | $569K | $705K | $444K | $548K | $423K |
| Other | $13.67M | $16.09M | $8.86M | $11.35M | $4.24M | $1.15M | $1.06M | $3.24M | $4.91M | $462K | $25K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Operating Expenses | $15.16M | $3.99M | $9.73M | $11.31M | $4.38M | $1.46M | $1.81M | $4.38M | $6.01M | $3.04M | $2.88M | $4.02M | $1.87M | $7.61M | $6.57M | $4.82M | $2.91M | $3.97M | $2.72M | $1.17M | $2.72M | $6.25M | $917K | $852K | $3.08M |
| Operating Income (EBIT) | -$15.18M | -$4.01M | -$9.73M | -$11.04M | -$4.27M | -$1.37M | -$1.75M | -$4.38M | -$5.93M | -$3.04M | -$2.88M | -$3.97M | $1.78M | -$7.61M | -$6.57M | -$4.82M | -$2.94M | -$3.97M | -$2.72M | -$1.25M | -$2.73M | -$6.31M | -$917K | -$852K | -$3.08M |
| Operating Margin | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Interest Expense | $98K | $253K | $175K | $91K | $71K | $79K | $75K | $64K | $91K | $98K | $59K | $12K | $16K | $4K | $0 | $356 | $0 | $0 | $0 | $0 | $0 | $66K | $0 | $0 | $0 |
| Interest Income | $91K | $229K | $265K | $99K | $13K | $19K | $4K | $27K | $19K | $6K | $7K | $27K | $49K | $92K | $59K | $45K | $17K | $220K | $225K | $0 | $93K | $173K | $53K | $0 | $34K |
| Other Income (Expense) | $14.51M | $1.22M | $9.7M | $11.02M | $4.01M | $2.3M | -$76K | -$65K | -$88K | $2.29M | $2.09M | $521K | $263K | $180K | $1.17M | $207K | $28K | $108K | -$49K | -$44K | -$110K | -$7K | $1.46M | -$474K | $280K |
| Income Before Tax (EBT) | -$663K | -$2.79M | -$31K | -$23K | -$255K | $970K | -$894K | -$1.39M | -$1.48M | -$743K | -$798K | -$3.48M | -$1.54M | -$7.43M | -$5.4M | -$4.61M | -$2.91M | -$3.86M | -$2.77M | -$1.29M | -$2.84M | -$6.32M | $539K | -$1.33M | -$2.8M |
| Income Tax Expense | $0 | $0 | $0 | $11.44M | $4.32M | $0 | $0 | $3.18M | $4.97M | $0 | $0 | -$16K | $16K | $4K | $0 | $356 | $11K | -$329K | -$176K | -$194K | $18K | -$101K | -$1.51M | $471K | -$313K |
| Net Income | -$663K | -$2.79M | -$31K | -$23K | -$259K | $970K | -$894K | -$1.39M | -$1.48M | -$743K | -$798K | -$3.48M | -$1.54M | -$7.43M | -$5.4M | -$4.61M | -$2.92M | -$3.64M | -$2.54M | -$981K | -$2.74M | -$6.15M | $592K | -$1.32M | -$2.77M |
| Net Income Margin | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Supplementary Data | |||||||||||||||||||||||||
| EPS | -0.00 | -0.02 | -0.00 | -0.00 | -0.00 | 0.01 | -0.01 | -0.01 | -0.01 | -0.01 | -0.01 | -0.04 | -0.02 | -0.08 | -0.07 | -0.07 | -0.05 | -0.07 | -0.06 | -0.03 | -0.08 | -0.19 | 0.04 | -0.12 | -0.26 |
| Diluted EPS | -0.00 | -0.02 | -0.00 | -0.00 | -0.00 | 0.01 | -0.01 | -0.01 | -0.01 | -0.01 | -0.01 | -0.04 | -0.02 | -0.08 | -0.07 | -0.07 | -0.05 | -0.07 | -0.06 | -0.03 | -0.08 | -0.19 | 0.04 | -0.12 | -0.37 |
| Weighted Average OS | 224.93M | 216.72M | 194.99M | 186.60M | 181.48M | 178.67M | 171.77M | 169.50M | 156.83M | 141.44M | 141.41M | 139.36M | 138.65M | 138.60M | 102.76M | 89.13M | 75.38M | 68.47M | 63.34M | 54.56M | 49.88M | 45.41M | 21.42M | 15.17M | 14.82M |
| EBITDA | -$576K | -$2.52M | -$9.73M | $85K | -$114K | $1.13M | -$663K | -$1.17M | -$986K | -$2.57M | -$698K | -$3.2M | -$1.74M | -$7.52M | -$5.38M | -$4.76M | -$2.91M | -$3.63M | -$2.54M | -$977K | -$2.73M | -$6.23M | -$2.36M | -$363K | -$3.36M |
| EBITDA Margin | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Balance Sheet
| Period | FY 2026 | 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 | FY 2003 | FY 2002 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2026-03-31 | 2025-03-31 | 2024-03-31 | 2023-03-31 | 2022-03-31 | 2021-03-31 | 2020-03-31 | 2019-03-31 | 2018-03-31 | 2017-03-31 | 2016-03-31 | 2015-03-31 | 2014-03-31 | 2013-03-31 | 2012-03-31 | 2011-03-31 | 2010-03-31 | 2009-03-31 | 2008-03-31 | 2007-03-31 | 2006-03-31 | 2005-03-31 | 2004-03-31 | 2003-03-31 | 2002-03-31 |
| Assets | |||||||||||||||||||||||||
| Current Assets | |||||||||||||||||||||||||
| Cash and Cash Equivalents | $1.01M | $863K | $6.42M | $3.66M | $264K | $220K | $178K | $202K | $2.36M | $664K | $533K | $349K | $3.4M | $4.18M | $11.03M | $4.86M | $3.07M | $2.12M | $5.5M | $2.08M | $3.23M | $5.23M | $9.78M | $7K | $733K |
| Short-Term Investments | $4K | $16K | $30K | $99K | $222K | $732K | $13K | $25K | $41K | $21K | $19K | $43K | $69K | $58K | $97K | $81K | $32K | $0 | $0 | $0 | $0 | $207K | $89K | $431K | $0 |
| Cash and Short-Term Investments | $1.01M | $879K | $6.45M | $3.76M | $486K | $951K | $191K | $227K | $2.4M | $685K | $552K | $391K | $3.47M | $4.24M | $11.13M | $4.94M | $3.11M | $2.12M | $5.5M | $2.08M | $3.23M | $5.44M | $9.87M | $438K | $733K |
| Accounts Receivable | $0 | $47K | $113K | $142K | $18K | $19K | $12K | $219K | $31K | $28K | $84K | $649K | $15K | $3K | $28K | $865K | $144K | $286K | $178K | $4.15M | $238K | $187K | $145K | $183K | $1.03M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $57K | $30K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$885K |
| Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Current Assets | $1.09M | $958K | $6.6M | $3.91M | $521K | $985K | $250K | $446K | $2.46M | $712K | $635K | $1.08M | $3.53M | $4.34M | $12.25M | $5.83M | $3.25M | $2.4M | $5.68M | $6.23M | $3.47M | $5.62M | $10.02M | $622K | $1.76M |
| Long-Term Assets | |||||||||||||||||||||||||
| Property, Plant & Equipment Net | $1K | $16K | $30K | $44K | $59K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $860 | $1K | $20K | $27K | $39K | $15K | $18K | $97K | $145K | $96K | $55K | $15K |
| Goodwill | $0 | $0 | $0 | $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 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $385K | $127K | $127K | $127K | $123K | $123K | $80K | $146K | $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 | $0 | $0 | $0 |
| Other Long-Term Assets | $367K | $367K | $381K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $167K | $257K | $1.1M | $705K | $957K | $66K | $0 | $0 | $0 | $0 | $0 | $0 | $50K | $50K |
| Total Long-Term Assets | $368K | $383K | $411K | $429K | $186K | $127K | $127K | $123K | $123K | $80K | $146K | $167K | $257K | $1.11M | $707K | $976K | $93K | $39K | $15K | $18K | $97K | $145K | $96K | $105K | $65K |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $1.46M | $1.34M | $7.02M | $4.34M | $707K | $1.11M | $377K | $569K | $2.58M | $793K | $781K | $1.25M | $3.78M | $5.45M | $12.96M | $6.81M | $3.34M | $2.44M | $5.69M | $6.25M | $3.57M | $5.77M | $10.11M | $726K | $1.82M |
| Liabilities | |||||||||||||||||||||||||
| Current Liabilities | |||||||||||||||||||||||||
| Accounts Payable | $213K | $348K | $601K | $673K | $125K | $37K | $71K | $26K | $260K | $11K | $15K | $8K | $6K | $3K | $444K | $25K | $9K | $24K | $14K | $56K | $27K | $555K | $130K | $64K | $158K |
| Short-Term Debt | $749K | $689K | $0 | $0 | $0 | $0 | $214K | $637K | $0 | $278K | $713K | $713K | $0 | $189K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $135K | $786K | $0 | $0 | $0 | $0 | -$50K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $378K | $453K | $4.21M | $2.95M | $337K | $4K | $4K | $0 | $0 | $125K | $0 | $0 | $50K | $115K | $93K | $424K | $0 | -$18K | $111K | $0 | $0 | $0 | $0 | $118K | $0 |
| Total Current Liabilities | $1.99M | $1.92M | $5.13M | $4.17M | $643K | $687K | $707K | $956K | $1.15M | $414K | $857K | $912K | $75K | $328K | $685K | $470K | $24K | $24K | $160K | $56K | $27K | $621K | $130K | $182K | $158K |
| Long-Term Liabilities | |||||||||||||||||||||||||
| Long-Term Debt | $0 | $0 | $560K | $462K | $460K | $406K | $365K | $0 | $544K | $670K | $167K | $0 | $0 | $0 | $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 | $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 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Long-Term Liabilities | $0 | $2K | $580K | $499K | $511K | $406K | $365K | $0 | $544K | $670K | $167K | $0 | $0 | $0 | $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 | $0 | $0 | $0 |
| Total Liabilities | $1.99M | $1.92M | $5.71M | $4.67M | $1.15M | $1.09M | $1.07M | $956K | $1.7M | $1.08M | $1.02M | $912K | $75K | $328K | $685K | $470K | $24K | $24K | $160K | $56K | $27K | $621K | $130K | $182K | $158K |
| 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 | $0 | $0 | $0 |
| Common Stock | $49.65M | $49.09M | $47.93M | $46.5M | $46.5M | $46.15M | $45.87M | $45.65M | $45.54M | $42.46M | $42.03M | $0 | $41.89M | $0 | $0 | $0 | $0 | $22.27M | $21.92M | $0 | $0 | $0 | $0 | $0 | $0 |
| Retained Earnings | -$53.37M | -$52.71M | -$49.92M | -$49.89M | -$49.86M | -$49.6M | -$50.57M | -$49.68M | -$48.32M | -$46.84M | -$46.1M | -$45.3M | -$41.82M | -$40.28M | -$32.85M | -$27.45M | -$24M | -$21.08M | -$17.43M | -$14.89M | -$13.91M | -$11.17M | -$5.02M | -$5.62M | -$4.29M |
| Comprehensive Income & Other | -$1.16M | -$1.15M | -$1.14M | $3.06M | $2.92M | $3.47M | $4.01M | $3.64M | $3.67M | $4.09M | $3.82M | $3.61M | $3.64M | $3.52M | $3.25M | $1.37M | -$2K | $0 | $0 | $0 | $0 | $361K | $295K | $4K | $0 |
| Other Stockholders' Equity | $3.2M | $3.04M | $3.29M | $3.06M | $2.92M | $3.47M | $4.01M | $3.64M | $3.67M | $4.09M | $3.82M | $45.64M | $3.64M | $45.4M | $45.12M | $33.79M | $27.32M | $1.22M | $1.05M | $21.09M | $17.45M | $16.32M | $15.01M | $6.16M | $5.96M |
| Total Equity | -$530K | -$577K | $1.3M | -$332K | -$448K | $19K | -$695K | -$387K | $888K | -$291K | -$243K | $339K | $3.71M | $5.12M | $12.27M | $6.34M | $3.32M | $2.42M | $5.53M | $6.19M | $3.54M | $5.15M | $9.98M | $544K | $1.67M |
| Minority Interest | $0 | $0 | $0 | $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 | $1.46M | $1.34M | $7.02M | $4.34M | $707K | $1.11M | $377K | $569K | $2.58M | $793K | $781K | $1.25M | $3.78M | $5.45M | $12.96M | $6.81M | $3.34M | $2.44M | $5.69M | $6.25M | $3.57M | $5.77M | $10.11M | $726K | $1.82M |
| Supplementary Data | |||||||||||||||||||||||||
| Total Debt | $751K | $709K | $597K | $514K | $524K | $406K | $579K | $637K | $544K | $948K | $880K | $713K | $0 | $189K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $66K | $0 | $0 | $0 |
| Net Debt | -$257K | -$154K | -$5.82M | -$3.14M | $259K | $187K | $401K | $435K | -$1.81M | $285K | $347K | $364K | -$3.4M | -$3.99M | -$11.03M | -$4.86M | -$3.07M | -$2.12M | -$5.5M | -$2.08M | -$3.23M | -$5.16M | -$9.78M | -$7K | -$733K |
Cash Flow Statement
| Period | FY 2026 | 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 | FY 2003 | FY 2002 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2026-03-31 | 2025-03-31 | 2024-03-31 | 2023-03-31 | 2022-03-31 | 2021-03-31 | 2020-03-31 | 2019-03-31 | 2018-03-31 | 2017-03-31 | 2016-03-31 | 2015-03-31 | 2014-03-31 | 2013-03-31 | 2012-03-31 | 2011-03-31 | 2010-03-31 | 2009-03-31 | 2008-03-31 | 2007-03-31 | 2006-03-31 | 2005-03-31 | 2004-03-31 | 2003-03-31 | 2002-03-31 |
| Operating Activities | |||||||||||||||||||||||||
| Net Income | -$663K | -$2.79M | -$31K | -$23K | -$259K | $970K | -$894K | -$1.39M | -$1.48M | -$743K | -$798K | -$3.48M | -$1.54M | -$7.43M | -$5.4M | -$4.61M | -$2.92M | -$3.64M | -$2.54M | -$981K | -$2.74M | -$6.15M | $592K | -$1.32M | -$2.77M |
| Depreciation & Amortization | $14K | $14K | $14K | $14K | $13K | $41K | $78K | $64K | $91K | $0 | $0 | $134K | $859 | $368 | $19K | $8K | $12K | $15K | $4K | $5K | $7K | $9K | $12K | $15K | $3K |
| Deferred Income Tax | $0 | $0 | $0 | $2K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$15K | $0 | -$63K | $0 | $0 | -$193K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $195K | $250K | $303K | $188K | $88K | $13K | $30K | $112K | $483K | $0 | $0 | $0 | $73K | $309K | $570K | $0 | $99K | $174K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | |||||||||||||||||||||||||
| Accounts Receivable | -$245 | $76K | $2K | -$121K | -$1K | $26K | $160K | -$158K | -$33K | $56K | $609K | -$547K | $871K | $636K | -$261K | -$759K | $2K | -$12K | -$98K | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $19K | -$301K | $66K | $206K | -$651K | $786K | -$4K | -$23K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $81K | -$248K | -$37K | $547K | $175K | $49K | $46K | -$234K | $249K | -$5K | -$31K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Working Capital | -$51K | -$3.1M | $449K | $2.68M | -$45 | -$245 | -$138K | $53K | -$62K | $66K | $21K | $123K | -$11K | -$468K | $838K | $320K | $50K | -$210K | $120K | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Working Capital Change | $29K | -$3.27M | $414K | $3.13M | -$128K | $139K | $273K | -$991K | $940K | $113K | $576K | -$424K | $860K | $168K | $577K | -$438K | $52K | -$222K | $23K | $34K | -$677K | $449K | -$14K | $867K | -$608K |
| Other Non-Cash Items | $569K | -$430K | $88K | $117K | $117K | -$1.3M | $285K | $66K | $289K | $226K | $95K | -$38K | -$232K | $16K | -$555K | -$220K | -$15K | $174K | -$87K | $71K | $111K | $406K | -$1.17M | -$456K | -$2K |
| Net Cash from Operating | $144K | -$6.23M | $789K | $3.43M | -$169K | -$136K | -$227K | -$2.14M | $326K | -$405K | -$126K | -$3.81M | -$849K | -$6.94M | -$4.85M | -$5.26M | -$2.78M | -$3.69M | -$2.6M | -$872K | -$3.3M | -$5.29M | -$582K | -$896K | -$3.38M |
| Investing Activities | |||||||||||||||||||||||||
| Capital Expenditures | $0 | $0 | -$4 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$877 | -$1K | $0 | -$53K | $0 | $0 | $0 | -$120K | -$53K | -$55K | -$17K |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $214K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$89K | -$89K | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $1K | $0 | $0 | $4K | $27K | $19K | $14K | $6K | $28K | $49K | $0 | $0 | $0 | $0 | $0 | $225K | $0 | $0 | $104K | $1.89M | $67K | $0 |
| Other Investing Activities | $0 | $0 | $0 | $0 | $0 | $0 | $4K | $18K | $475 | $6K | $7K | $27K | $49K | $0 | $115K | $2K | $0 | $0 | $3.92M | -$3.92M | $0 | $0 | $50K | $0 | -$46K |
| Net Cash from Investing | $0 | $0 | $0 | $1K | $0 | $214K | $8K | $45K | $20K | $20K | $13K | $56K | $98K | $92K | $114K | $1K | $24K | -$53K | $4.15M | -$3.92M | $171K | -$104K | $1.8M | $12K | -$64K |
| Financing Activities | |||||||||||||||||||||||||
| Debt Repaid | - | - | - | - | - | - | -$214K | - | $713K | -$356K | -$356K | -$713K | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Common Stock Issuance | $36K | $0 | $1.97M | $0 | $214K | $178K | $0 | $0 | $1.77M | $257K | $0 | $0 | $0 | $0 | $0 | $7.04M | $3.71M | $356K | $1.88M | $3.63M | $1.13M | $836K | $8.56M | $158K | $1.3M |
| 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 | $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 | $0 | $0 | $0 |
| Other Financing Activities | -$36K | $669K | $1.97M | -$34K | $214K | -$36K | -$18K | -$64K | $294K | $159K | -$59K | -$12K | -$16K | $0 | $10.91M | $356 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Financing | $22 | $669K | $1.97M | -$34K | $214K | -$36K | $195K | -$64K | $1.35M | $515K | $298K | $701K | -$31K | $0 | $10.91M | $7.04M | $3.71M | $356K | $1.88M | $3.63M | $1.13M | $836K | $8.56M | $158K | $1.3M |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$187 | $13 | -$7K | $9K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $145K | -$5.56M | $2.76M | $3.39M | $45K | $42K | -$24K | -$2.16M | $1.69M | $131K | $184K | -$3.05M | -$782K | -$6.85M | $6.18M | $1.78M | $955K | -$3.38M | $3.42M | -$1.16M | -$1.99M | -$4.55M | $9.78M | -$726K | -$2.14M |
| Supplementary Data | |||||||||||||||||||||||||
| Operating Cash Flow | $144K | -$6.23M | $789K | $3.43M | -$169K | -$136K | -$227K | -$2.14M | $326K | -$405K | -$126K | -$3.81M | -$849K | -$6.94M | -$4.85M | -$5.26M | -$2.78M | -$3.69M | -$2.6M | -$872K | -$3.3M | -$5.29M | -$582K | -$896K | -$3.38M |
| Capital Expenditure | $0 | $0 | -$4 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$877 | -$1K | $0 | -$53K | $0 | $0 | $0 | -$120K | -$53K | -$55K | -$17K |
| Free Cash Flow | $144K | -$6.23M | $789K | $3.43M | -$169K | -$136K | -$227K | -$2.14M | $326K | -$405K | -$126K | -$3.81M | -$849K | -$6.94M | -$4.85M | -$5.26M | -$2.78M | -$3.75M | -$2.6M | -$872K | -$3.3M | -$5.41M | -$635K | -$951K | -$3.4M |
| Cash at Beginning | $863K | $6.42M | $3.66M | $264K | $220K | $178K | $202K | $2.36M | $664K | $533K | $349K | $3.4M | $4.18M | $11.03M | $4.86M | $3.07M | $2.12M | $5.5M | $2.08M | $3.23M | $5.23M | $9.78M | $7K | $733K | $2.88M |
| Cash at End | $1.01M | $863K | $6.42M | $3.66M | $264K | $220K | $178K | $202K | $2.36M | $664K | $533K | $349K | $3.4M | $4.18M | $11.03M | $4.86M | $3.07M | $2.12M | $5.5M | $2.08M | $3.23M | $5.23M | $9.78M | $7K | $733K |