Belgravia Hartford Capital Inc. (BLGVF)
Belgravia Hartford Capital Inc. operates a multifaceted business model, primarily centered on venture incubation, strategic investments, and the provision of royalty and management services. The company actively supports the development of nascent enterprises, offering specialized assistance alongside comprehensive merchant banking solutions. Its investment portfolio is diverse, encompassing both private and publicly traded entities, with a particular emphasis on the resources, technology, and healthcare sectors. Formerly known as Belgravia Capital International Inc., the firm adopted its current name, Belgravia Hartford Capital Inc., in December 2019. The company's operations are headquartered in Kelowna, Canada.
Sector: Asset Management
Industry: Asset Management
Belgravia Hartford Capital Inc.
OTC:BLGVFFinancial Services · Asset Management
Mkt Cap-
Float93.5M
O/S104.53M
Inst Own-
SI<0.1%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue-$831K
Net Income-$4.96M
Total Assets$5.94M
Free Cash Flow-$875K
Debt & Equity
Debt 85%
Equity 15%
Total Debt$3.65M
Total Equity$626K
Shares Outstanding
Short Interest
Split History2 splits · 2 reverse
2-year cumulative
1:10
Nasdaq bars a compliance period at 1:250
- 1:10Reverse splitOct 23, 202610 shares → 1
- 1:10Reverse splitMar 8, 202110 shares → 1
Balance Sheet Details
Assets$5.94M
Liabilities$5.31M
Accounts Receivable$0
Accounts Payable$361K
Inventory$0
PP&E (Net)$2K
Goodwill$0
Intangible Assets$5.88M
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 | FY 2003 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | 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 | 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 | 2003-12-31 |
| Revenue | -$831K | -$413K | -$454K | -$4.48M | $498K | $1.03M | $540K | $485K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| YoY Growth | 101.3% | -9.1% | -89.9% | -999.1% | -51.5% | 90.3% | 11.4% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Cost of Revenue | $784 | $171K | $335K | $848K | $2.38M | $948K | $843K | $858K | $867K | $991K | $1.79M | $1.57M | $1.65M | $2.01M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Gross Profit | -$832K | -$584K | -$789K | -$5.33M | -$1.88M | $80K | -$302K | -$373K | -$867K | -$991K | -$1.79M | -$1.57M | -$1.65M | -$2.01M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Gross Margin | 100.1% | 141.6% | 173.7% | 118.9% | -377.0% | 7.8% | -55.9% | -76.9% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Research and Development | $0 | $0 | $16K | $67K | $216K | $30K | $0 | $183K | $0 | $192K | $0 | $0 | $532K | $533K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $2.37M | $623K | $741K | $1.48M | $1.16M | $1.43M | $636K | $3.24M | $979K | $1.13M | $2.45M | $2.22M | $1.85M | $3.48M | $5.7M | $2.21M | $1.47M | $719K | $1.58M | $1.23M | $686K | $0 | $0 |
| Other | $1.56M | $31K | $41K | $89K | -$339K | $92K | $1.11M | $707K | $1.14M | $776K | $3.66M | $736K | $301K | $1.08M | $24K | $1.54M | $33K | -$18K | $99K | $2.14M | $321K | $577K | $188K |
| Total Operating Expenses | $3.93M | $654K | $798K | $1.64M | $1.03M | $1.55M | $1.75M | $4.13M | $2.11M | $2.1M | $6.33M | $3.13M | $2.68M | $5.09M | $5.73M | $3.75M | $1.51M | $701K | $1.68M | $3.36M | $1.01M | $577K | $188K |
| Operating Income (EBIT) | -$4.76M | -$1.24M | -$1.59M | -$6.97M | -$2.91M | -$1.47M | -$2.05M | -$4.5M | -$2.98M | -$3.09M | -$8.25M | -$4.71M | -$4.34M | -$7.1M | -$5.73M | -$3.75M | -$1.51M | -$701K | -$1.68M | -$3.36M | -$1.01M | -$577K | -$188K |
| Operating Margin | 572.4% | 299.8% | 349.3% | 155.6% | -584.3% | -143.4% | -379.5% | -927.4% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Interest Expense | $211K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $53K | $217K | $1.88M | $150K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Interest Income | $0 | $0 | $0 | $0 | $88K | $4K | $2K | $63K | $3K | $1K | $4K | $28K | $66K | $185K | $169K | $8K | $12K | $39K | $70K | $37K | $51K | $0 | $0 |
| Other Income (Expense) | -$202K | -$35K | $8K | -$58K | -$4K | $5.89M | $1.88M | -$509K | -$3M | -$40.68M | -$1.9M | -$129K | -$222K | $177K | $178K | $0 | $0 | -$86K | -$2.29M | $30K | -$8K | -$69K | $0 |
| Income Before Tax (EBT) | -$4.96M | -$1.27M | -$1.58M | -$7.03M | -$2.91M | $4.42M | -$170K | -$5.01M | -$5.98M | -$43.77M | -$10.15M | -$4.84M | -$4.56M | -$6.92M | -$5.55M | -$3.75M | -$1.51M | -$787K | -$3.97M | -$3.33M | -$1.02M | -$646K | -$188K |
| Income Tax Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $181K | $0 | $0 | $0 | $37K | $280K | -$125K | -$288K | -$804K | -$413K | -$113K | -$63K |
| Net Income | -$4.96M | -$1.27M | -$1.58M | -$7.03M | -$2.91M | $4.42M | -$170K | -$5.01M | -$5.98M | -$43.77M | -$10.15M | -$4.84M | -$4.56M | -$6.92M | -$5.55M | -$3.79M | -$1.79M | -$662K | -$3.68M | -$2.53M | -$603K | -$533K | -$124K |
| Net Income Margin | 596.7% | 308.3% | 347.5% | 156.9% | -585.0% | 429.6% | -31.4% | -1032.3% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Supplementary Data | |||||||||||||||||||||||
| EPS | -0.06 | -0.03 | -0.05 | -0.21 | -0.09 | 0.15 | -0.01 | -0.17 | -0.37 | -3.36 | -0.83 | -0.35 | -0.40 | -0.68 | -0.66 | -0.80 | -0.88 | -0.40 | -3.64 | -3.86 | -1.20 | -1.80 | -1.45 |
| Diluted EPS | -0.06 | -0.03 | -0.05 | -0.21 | -0.09 | 0.15 | -0.01 | -0.17 | -0.37 | -3.30 | -0.82 | -0.35 | -0.40 | -0.68 | -0.66 | -0.80 | -0.88 | -0.40 | -3.64 | -3.86 | -1.20 | -1.80 | -1.45 |
| Weighted Average OS | 80.74M | 56.85M | 44.37M | 46.54M | 45.26M | 40.18M | 40.18M | 40.37M | 22.76M | 18.57M | 17.29M | 17.27M | 15.29M | 14.29M | 11.72M | 7.04M | 2.86M | 2.58M | 1.42M | 919,867 | 716,260 | 416,638 | 120,606 |
| EBITDA | -$4.75M | -$1.24M | -$1.59M | -$6.97M | -$2.91M | -$1.47M | -$1.46M | -$4.13M | -$5.93M | -$43.52M | -$8.2M | -$5.1M | -$4.67M | -$6.72M | -$5.7M | -$3.73M | -$1.5M | -$658K | -$1.62M | -$1.32M | -$787K | -$567K | -$186K |
| EBITDA Margin | 571.2% | 299.7% | 349.1% | 155.5% | -584.0% | -143.4% | -269.3% | -850.5% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
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 | FY 2003 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | 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 | 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 | 2003-12-31 |
| Assets | |||||||||||||||||||||||
| Current Assets | |||||||||||||||||||||||
| Cash and Cash Equivalents | $16K | $254K | $53K | $16K | $131K | $77K | $466K | $2.43M | $780K | $2.98M | $730K | $8.35M | $9.02M | $25.91M | $18.8M | $10M | $5.24M | $228K | $1.28M | $1.67M | $2.58M | $2.75M | $473K |
| Short-Term Investments | $2K | $395 | $791K | $2.1M | $8.88M | $10.85M | $5.29M | $3.35M | $700K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $128K | $1.41M | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $18K | $254K | $844K | $2.12M | $9.01M | $10.93M | $5.76M | $5.78M | $1.48M | $2.98M | $730K | $8.35M | $9.02M | $25.91M | $18.8M | $10M | $5.24M | $356K | $2.69M | $1.67M | $2.58M | $2.75M | $473K |
| Accounts Receivable | $0 | $0 | $3K | $0 | $0 | $92K | $210K | $61K | $1.26M | $14K | $711 | $5K | $45K | $43K | $13K | $14K | $33K | $7K | $76K | $34K | $103K | $454K | $26K |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | -$49K | $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 | $18K | $269K | $883K | $2.24M | $9.05M | $11.05M | $6.01M | $5.89M | $2.92M | $3.09M | $781K | $8.53M | $9.12M | $26.06M | $18.88M | $10.04M | $5.32M | $402K | $2.8M | $1.74M | $2.7M | $3.34M | $499K |
| Long-Term Assets | |||||||||||||||||||||||
| Property, Plant & Equipment Net | $2K | $1K | $928 | $2K | $3K | $3K | $3K | $5K | $901 | $18.9M | $55.37M | $44.55M | $41.85M | $26.67M | $11.29M | $4.52M | $2.37M | $4.49M | $4.37M | $3.77M | $2.96M | $182K | $8K |
| Goodwill | $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 | $5.88M | $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 | $83K | $0 | $38K | $53K | $3K | $55K | $269K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1.57M | $46K | $0 | $0 | $85K | $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 |
| Other Long-Term Assets | $44K | $61K | $0 | -$38K | $0 | $0 | $0 | $0 | $0 | $73K | $210K | $72K | $64K | $216K | $138K | $275K | $38K | $0 | -$46K | $0 | $27K | $1.23M | $886K |
| Total Long-Term Assets | $5.92M | $146K | $928 | $2K | $56K | $6K | $58K | $274K | $901 | $18.98M | $55.58M | $44.62M | $41.92M | $26.89M | $11.43M | $4.79M | $2.41M | $6.06M | $4.37M | $3.77M | $2.99M | $1.5M | $894K |
| 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 |
| Total Assets | $5.94M | $415K | $883K | $2.24M | $9.11M | $11.06M | $6.07M | $6.16M | $2.92M | $22.07M | $56.36M | $53.15M | $51.04M | $52.95M | $30.31M | $14.83M | $7.72M | $6.46M | $7.17M | $5.5M | $5.69M | $4.84M | $1.39M |
| Liabilities | |||||||||||||||||||||||
| Current Liabilities | |||||||||||||||||||||||
| Accounts Payable | $361K | $494K | $510K | $318K | $145K | $13K | $69K | $35K | $28K | $378K | $679K | $326K | $565K | $1.39M | $1.06M | $0 | $0 | $0 | $464K | $314K | $76K | $0 | $0 |
| Short-Term Debt | $3.65M | $82K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $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 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $92K | $71K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | -$1.52M | -$82K | $0 | $0 | $0 | $0 | $0 | $0 | $294K | $1.09M | $571K | $0 | $0 | $0 | $17K | $612K | $943K | $285K | $0 | $0 | $0 | $121K | $76K |
| Total Current Liabilities | $3.65M | $574K | $615K | $396K | $199K | $132K | $214K | $141K | $443K | $1.91M | $1.79M | $444K | $1.05M | $2.49M | $1.34M | $612K | $943K | $285K | $464K | $314K | $76K | $121K | $76K |
| Long-Term Liabilities | |||||||||||||||||||||||
| Long-Term Debt | $0 | $82K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $2.42M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $615K | $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 | $113K |
| Other Long-Term Liabilities | $1.66M | $0 | -$615K | $0 | $0 | $0 | $0 | $0 | $0 | $17.75M | $10.57M | $7.41M | $545K | $191K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Long-Term Liabilities | $1.66M | $82K | $615K | $292K | $157K | $0 | $0 | $0 | $0 | $20.17M | $10.57M | $7.41M | $545K | $191K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $113K |
| Other Liabilities | $0 | $0 | -$615K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $5.31M | $656K | $615K | $396K | $199K | $132K | $214K | $141K | $443K | $22.08M | $12.35M | $7.85M | $1.59M | $2.68M | $1.34M | $612K | $943K | $285K | $464K | $314K | $76K | $121K | $189K |
| 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 |
| Common Stock | $82.14M | $77.44M | $76.81M | $76.81M | $76.9M | $75.99M | $75.99M | $75.99M | $69.75M | $68.7M | $67.38M | $77.72M | $71.23M | $63.69M | $0 | $0 | $0 | $4.08M | $0 | $0 | $0 | $5.37M | $1.49M |
| Retained Earnings | -$106.17M | -$101.29M | -$100.02M | -$98.44M | -$91.41M | -$88.5M | -$92.91M | -$92.74M | -$87.74M | -$81.75M | -$37.98M | -$32.17M | -$25.07M | -$19.47M | -$12.55M | -$6.46M | -$2.47M | -$8.39M | -$7.65M | -$3.97M | -$1.44M | -$834K | -$300K |
| Comprehensive Income & Other | $24.66M | $23.61M | $23.47M | $23.47M | $23.42M | $23.43M | $22.78M | $22.78M | $20.46M | $13.04M | $14.61M | -$252K | $3.3M | $6.05M | $4.22M | $0 | $0 | $0 | $0 | $0 | $201K | $0 | $0 |
| Other Stockholders' Equity | $24.66M | $23.61M | $23.47M | $23.47M | $23.42M | $23.43M | $22.78M | $22.78M | $20.46M | $13.04M | $14.61M | -$252K | $3.3M | $6.05M | $41.51M | $20.67M | $9.25M | $10.48M | $14.36M | $9.16M | $7.05M | $184K | $15K |
| Total Equity | $626K | -$241K | $268K | $1.85M | $8.91M | $10.93M | $5.85M | $6.02M | $2.48M | -$10K | $44.01M | $45.3M | $49.45M | $50.27M | $28.97M | $14.22M | $6.78M | $6.18M | $6.71M | $5.19M | $5.62M | $4.72M | $1.2M |
| 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 |
| Total Liabilities and Equity | $5.94M | $415K | $883K | $2.24M | $9.11M | $11.06M | $6.07M | $6.16M | $2.92M | $22.07M | $56.36M | $53.15M | $51.04M | $52.95M | $30.31M | $14.83M | $7.72M | $6.46M | $7.17M | $5.5M | $5.69M | $4.84M | $1.39M |
| Supplementary Data | |||||||||||||||||||||||
| Total Debt | $3.65M | $164K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $2.42M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Debt | $3.64M | -$90K | -$53K | -$16K | -$131K | -$77K | -$466K | -$2.43M | -$780K | -$558K | -$730K | -$8.35M | -$9.02M | -$25.91M | -$18.8M | -$10M | -$5.24M | -$228K | -$1.28M | -$1.67M | -$2.58M | -$2.75M | -$473K |
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 | FY 2003 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | 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 | 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 | 2003-12-31 |
| Operating Activities | |||||||||||||||||||||||
| Net Income | -$4.96M | -$1.27M | -$1.58M | -$7.03M | -$2.91M | $4.42M | -$170K | -$5.01M | -$5.98M | -$43.77M | -$10.15M | -$4.84M | -$4.56M | -$6.92M | -$5.55M | -$3.79M | -$1.79M | -$662K | -$3.68M | -$2.53M | -$603K | -$533K | -$124K |
| Depreciation & Amortization | $784 | $1K | $760 | $1K | $1K | $871 | $2K | $2K | $5K | $31K | $41K | $45K | $61K | $53K | $24K | $25K | $4K | $42K | $57K | $66K | $59K | $10K | $1K |
| Deferred Income Tax | $0 | $0 | $0 | $4.58M | -$1.11M | -$6.81M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$288K | -$804K | -$413K | -$113K | -$63K |
| Stock-Based Compensation | $0 | $127K | $0 | $59K | $1.14M | $659K | $0 | $2.07M | $230K | $277K | $129K | $433K | $0 | $1.84M | $2.74M | $1.23M | $97K | $341K | $347K | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | |||||||||||||||||||||||
| Accounts Receivable | $0 | $3K | -$3K | $0 | $52K | -$31K | -$29K | -$47K | -$10K | -$13K | $5K | $44K | -$2K | -$30K | $755 | $19K | $890 | -$7K | -$42K | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $21K | -$24K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $1.21M | -$35K | $219K | $197K | $67K | $9K | $53K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$163K | $214K | $0 | $0 | $0 | $0 |
| Other Working Capital | $97K | $24K | $88K | -$88K | $37K | -$26K | -$33K | -$172K | $28K | -$488K | $966K | -$285K | -$65K | $138K | -$26K | -$88K | $98K | $256K | -$594 | $0 | $0 | $0 | $0 |
| Total Working Capital Change | $1.31M | -$9K | $305K | $109K | $156K | -$26K | -$33K | -$218K | $18K | -$501K | $971K | -$241K | -$67K | $108K | -$25K | -$68K | $99K | $87K | $171K | $84K | $407K | -$522K | $50K |
| Other Non-Cash Items | $2.78M | $646K | $1.31M | $2.25M | $3.03M | -$3K | -$1.71M | $1.15M | $4.24M | $40.69M | $2.01M | $329K | $33K | $332K | -$9K | $320K | $0 | -$40K | $2.27M | $2.37M | $237K | $145K | $15K |
| Net Cash from Operating | -$873K | -$508K | $37K | -$24K | $303K | -$1.76M | -$1.91M | -$2M | -$1.5M | -$3.28M | -$7M | -$4.27M | -$4.53M | -$4.58M | -$2.82M | -$2.28M | -$1.59M | -$232K | -$1.12M | -$808K | -$312K | -$1.01M | -$121K |
| Investing Activities | |||||||||||||||||||||||
| Capital Expenditures | -$1K | -$2K | $0 | $0 | -$1K | -$2K | $0 | -$6K | -$975K | -$3.03M | -$2.14M | -$17K | -$34K | -$121K | -$6.4M | -$7K | -$913K | -$804K | -$3.87M | -$3.26M | -$2.68M | -$184K | -$9K |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1.25M | -$784K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | $0 | $0 | $0 | -$3.02M | -$3.35M | -$1.86M | -$1.73M | -$7.73M | -$143K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$353K | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $50K | $0 | $0 | $5.33M | $6.47M | $3.24M | $1.71M | $3.84M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $911K | $0 | $20K | $0 | $0 | $0 |
| Other Investing Activities | -$2.93M | $0 | $0 | $0 | -$3.12M | $0 | -$37K | $0 | $0 | $6K | $11K | -$3.85M | -$16.1M | -$14.18M | -$77K | -$2.78M | $27K | -$602K | $34K | $843K | $923K | -$498K | -$203K |
| Net Cash from Investing | -$2.88M | -$2K | $0 | $2.31M | -$1K | $1.38M | -$55K | -$2.65M | -$1.9M | -$3.03M | -$2.13M | -$3.87M | -$16.13M | -$14.3M | -$6.47M | -$2.79M | -$887K | -$847K | -$3.84M | -$2.39M | -$1.75M | -$682K | -$212K |
| Financing Activities | |||||||||||||||||||||||
| Debt Repaid | - | -$82K | - | - | - | - | - | - | - | -$7.17M | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Common Stock Issuance | $3.46M | $672K | $0 | $0 | $0 | $0 | $0 | $4.77M | $1.13M | $1.56M | $0 | $19K | $4.08M | $28.32M | $19.32M | $10.9M | $5.08M | $4.09M | $5.11M | $2.55M | $0 | $4.83M | $844K |
| Common Stock Repurchases | $0 | $0 | $0 | -$92K | -$248K | $0 | $0 | -$207K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$12K | -$548K | $0 | $2.22M | $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 |
| Other Financing Activities | $60K | -$43K | $0 | $0 | $0 | $0 | $0 | $1.75M | $68K | -$4.96M | -$5K | -$1.13M | -$564K | -$2M | -$1.24M | -$799K | -$369K | $35K | $0 | -$252K | -$325K | -$865K | -$37K |
| Net Cash from Financing | $3.52M | $710K | $0 | -$92K | -$248K | $0 | $0 | $6.31M | $1.2M | $8.55M | -$5K | $7.15M | $3.52M | $26.32M | $18.08M | $10.1M | $4.71M | $4.08M | $4.57M | $2.29M | $1.9M | $3.97M | $807K |
| Forex Effect | $12K | $0 | $0 | -$2.31M | $0 | $0 | $0 | $0 | $0 | $0 | -$107K | -$505K | $252K | -$324K | $16K | -$274K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | -$226K | $201K | $37K | -$116K | $54K | -$388K | -$1.97M | $1.66M | -$2.2M | $2.25M | -$9.25M | -$1.49M | -$16.9M | $7.11M | $8.8M | $4.76M | $2.24M | $3M | -$394K | -$909K | -$166K | $2.27M | $473K |
| Supplementary Data | |||||||||||||||||||||||
| Operating Cash Flow | -$873K | -$508K | $37K | -$24K | $303K | -$1.76M | -$1.91M | -$2M | -$1.5M | -$3.28M | -$7M | -$4.27M | -$4.53M | -$4.58M | -$2.82M | -$2.28M | -$1.59M | -$232K | -$1.12M | -$808K | -$312K | -$1.01M | -$121K |
| Capital Expenditure | -$1K | -$2K | $0 | $0 | -$1K | -$2K | $0 | -$6K | -$975K | -$3.03M | -$2.14M | -$17K | -$34K | -$121K | -$6.4M | -$2.55M | -$913K | -$804K | -$3.87M | -$3.26M | -$2.68M | -$184K | -$9K |
| Free Cash Flow | -$875K | -$510K | $37K | -$24K | $302K | -$1.77M | -$1.91M | -$2.01M | -$2.47M | -$6.31M | -$9.15M | -$4.29M | -$4.57M | -$4.71M | -$9.22M | -$4.83M | -$2.5M | -$1.04M | -$4.99M | -$4.06M | -$2.99M | -$1.2M | -$130K |
| Cash at Beginning | $242K | $53K | $16K | $131K | $77K | $466K | $2.43M | $780K | $2.98M | $730K | $9.98M | $9.83M | $25.91M | $18.8M | $10M | $5.24M | $3M | $0 | $1.67M | $2.58M | $2.75M | $473K | $0 |
| Cash at End | $16K | $254K | $53K | $16K | $131K | $77K | $466K | $2.43M | $780K | $2.98M | $732K | $8.35M | $9.01M | $25.91M | $18.8M | $10M | $5.24M | $3M | $1.28M | $1.67M | $2.58M | $2.75M | $473K |