Fitzroy Minerals Inc. (FTZFF)
Fitzroy Minerals Inc. functions as a junior natural resource firm, primarily concentrating on the acquisition, exploration, and advancement of mineral assets throughout Canada, Chile, and Argentina. The company's core exploration efforts are directed toward uncovering deposits rich in copper, gold, and silver. This entity was rebranded as Fitzroy Minerals Inc. in January 2024, having previously been known as Norseman Silver Inc. Founded in 1985, its corporate headquarters are located in Vancouver, Canada.
Industry: Other Precious Metals
Fitzroy Minerals Inc.
OTC:FTZFFBasic Materials · Other Precious Metals
+4.80%$0.3693
Mkt Cap$121.43M
Float135.11M
O/S328.82M
Inst Own-
SI0.1%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$0
Net Income-$3.09M
Total Assets$25.62M
Free Cash Flow-$4.68M
Debt & Equity
Equity 100%
Total Debt$0
Total Equity$25.07M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in FTZFF's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$25.62M
Liabilities$548K
Accounts Receivable$94K
Accounts Payable$0
Inventory$0
PP&E (Net)$15.98M
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 | FY 2003 | FY 2002 | FY 2001 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 | 2020-09-30 | 2019-09-30 | 2018-09-30 | 2017-09-30 | 2016-09-30 | 2015-09-30 | 2014-09-30 | 2013-09-30 | 2012-09-30 | 2011-09-30 | 2010-09-30 | 2009-09-30 | 2008-09-30 | 2007-09-30 | 2006-09-30 | 2005-09-30 | 2004-09-30 | 2003-09-30 | 2002-09-30 | 2001-09-30 |
| 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 | $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 |
| Gross Profit | $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 |
| Gross Margin | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $33K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $3.17M | $1.23M | $763K | $872K | $2.23M | $363K | $107K | $221K | $509K | $423K | $370K | $119K | $144K | $317K | $502K | $583K | $649K | $513K | $464K | $235K | $1.68M | $310K | $82K | $44K | $53K |
| Other | $3K | $4K | $0 | $0 | $0 | $0 | $0 | $0 | $23K | $0 | $0 | $9K | $10K | $16K | $15K | $7K | $2K | $2K | $3K | $4K | $2K | $0 | $0 | $0 | $0 |
| Total Operating Expenses | $3.17M | $1.23M | $763K | $872K | $2.23M | $363K | $107K | $221K | $531K | $423K | $370K | $128K | $153K | $367K | $516K | $591K | $650K | $515K | $467K | $239K | $1.68M | $310K | $82K | $44K | $53K |
| Operating Income (EBIT) | -$3.17M | -$1.23M | -$773K | -$873K | -$2.23M | -$367K | -$107K | -$220K | -$531K | $423K | $370K | -$123K | $153K | $370K | $516K | $591K | $651K | $515K | $467K | $2.58M | -$690K | $163K | $82K | $44K | $53K |
| Operating Margin | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Interest Expense | $3K | $4K | $8K | $2K | $4K | $4K | $16K | $17K | $478 | $0 | $0 | $0 | $0 | $3K | $0 | $0 | $140 | $376 | $482 | $137 | $0 | $0 | $0 | $0 | $0 |
| Interest Income | $81K | $20K | $19K | $6K | $1K | $4 | $4 | $4 | $48 | $138 | $140 | $38 | $11 | $301 | $3K | $2K | $21K | $62K | $32K | $4K | $0 | $0 | $0 | $0 | $3K |
| Other Income (Expense) | $81K | $26K | -$2.84M | $6K | $227 | $2K | $152K | -$17K | -$749K | -$847K | -$730K | -$11K | -$488K | -$2.72M | -$2.47M | -$9K | -$1.48M | $49K | $0 | $0 | -$990K | -$473K | $0 | $0 | $48K |
| Income Before Tax (EBT) | -$3.09M | -$1.21M | -$3.6M | -$867K | -$2.23M | -$365K | $45K | -$237K | -$1.28M | -$423K | -$360K | -$133K | -$334K | -$2.35M | -$1.95M | $581K | -$830K | $564K | $0 | $239K | -$1.68M | -$309K | $0 | $0 | $101K |
| Income Tax Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $3K | $2.4M | -$2K | -$93K | -$61K | -$31K | $2.34M | $976K | $476K | $164K | $88K | $103K |
| Net Income | -$3.09M | -$1.21M | -$3.6M | -$867K | -$2.23M | -$365K | $45K | -$237K | -$1.28M | -$423K | -$360K | -$133K | -$334K | -$2.35M | -$2.98M | -$599K | -$2.11M | -$404K | -$436K | -$2.57M | -$2.66M | -$786K | -$82K | -$44K | -$2K |
| Net Income Margin | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Supplementary Data | |||||||||||||||||||||||||
| EPS | -0.02 | -0.02 | -0.08 | -0.02 | -0.09 | -0.03 | 0.01 | -0.07 | -0.35 | -0.26 | -0.45 | -0.67 | -1.68 | -12.43 | -18.95 | -5.97 | -29.09 | -5.87 | -10.35 | -90.00 | -124.40 | -138.44 | -22.72 | -12.13 | -0.58 |
| Diluted EPS | -0.02 | -0.02 | -0.08 | -0.02 | -0.09 | -0.03 | 0.01 | -0.07 | -0.35 | -0.26 | -0.45 | -0.67 | -1.68 | -12.43 | -18.95 | -5.97 | -29.09 | -5.87 | -10.35 | -90.00 | -124.40 | -138.44 | -22.72 | -12.13 | -0.58 |
| Weighted Average OS | 182.71M | 81.96M | 64.58M | 53.64M | 35.64M | 16.93M | 5.83M | 5.10M | 5.10M | 2.30M | 1.12M | 279,826 | 279,826 | 265,007 | 220,784 | 140,611 | 101,702 | 96,544 | 59,110 | 40,130 | 29,951 | 7,962 | 5,070 | 5,070 | 5,070 |
| EBITDA | -$3.09M | -$1.2M | -$763K | -$858K | -$2.23M | -$363K | -$107K | -$220K | -$531K | $423K | $370K | -$113K | $37K | -$350K | $1.9M | -$583K | -$720K | -$513K | -$464K | $2.1M | -$688K | $163K | $82K | $44K | $53K |
| EBITDA Margin | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
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 | FY 2002 | FY 2001 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 | 2020-09-30 | 2019-09-30 | 2018-09-30 | 2017-09-30 | 2016-09-30 | 2015-09-30 | 2014-09-30 | 2013-09-30 | 2012-09-30 | 2011-09-30 | 2010-09-30 | 2009-09-30 | 2008-09-30 | 2007-09-30 | 2006-09-30 | 2005-09-30 | 2004-09-30 | 2003-09-30 | 2002-09-30 | 2001-09-30 |
| Assets | |||||||||||||||||||||||||
| Current Assets | |||||||||||||||||||||||||
| Cash and Cash Equivalents | $9.36M | $1.16M | $158K | $699K | $818K | $252K | $56 | $1K | $2K | $19K | $8K | $14K | $15K | $23K | $474K | $162K | $21K | $34K | $35K | $45K | $449K | $170K | $175K | $625 | $4K |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $18K | $14K | $24K | $93K | $950K | $1.44M | $2.22M | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $9.36M | $1.16M | $158K | $699K | $818K | $252K | $56 | $1K | $2K | $19K | $8K | $14K | $33K | $37K | $498K | $255K | $971K | $1.48M | $2.26M | $45K | $449K | $170K | $175K | $625 | $4K |
| Accounts Receivable | $94K | $26K | $8K | $23K | $40K | $13K | $4K | $3K | $803 | $2K | $1K | $612 | $625 | $3K | $6K | $4K | $2K | $89K | $2K | $990 | $60K | $45K | $716 | $160 | $6K |
| Inventory | $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 Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $33K | $0 | $0 | $0 | $628 | $31K | $0 | $26K | $23K | $8K | $2K | $3K | $770 | $0 | $0 | $0 |
| Total Current Assets | $9.58M | $1.19M | $166K | $722K | $965K | $266K | $4K | $4K | $3K | $54K | $9K | $14K | $34K | $40K | $534K | $259K | $999K | $1.59M | $2.27M | $48K | $512K | $216K | $176K | $785 | $10K |
| Long-Term Assets | |||||||||||||||||||||||||
| Property, Plant & Equipment Net | $15.98M | $2.33M | $1.31M | $3.89M | $2.91M | $230K | $0 | $0 | $0 | $393K | $0 | $0 | $13K | $219K | $1.86M | $3.36M | $374K | $1.35M | $1.37M | $755K | $1.2M | $1.15M | $214K | $168K | $168K |
| 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 | $63K | $63K | $23K | $0 | $0 | $0 | $0 | $712 | $713 | $713 | $713 | $0 | $2K | $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 | $63K | $577K | $200 | $597 | $30 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $739 | $40K | $203K | $1.95M | $2.36M | $205K | $713 | $1.24M | $748K | $125K | $72K | $68K |
| Total Long-Term Assets | $16.04M | $2.9M | $1.38M | $3.96M | $2.93M | $230K | $0 | $0 | $0 | $394K | $713 | $713 | $14K | $219K | $1.9M | $3.57M | $2.32M | $3.71M | $1.58M | $755K | $2.44M | $1.9M | $340K | $239K | $236K |
| 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 | $25.62M | $4.09M | $1.54M | $4.68M | $3.89M | $496K | $4K | $4K | $3K | $448K | $10K | $15K | $48K | $260K | $2.44M | $3.83M | $3.32M | $5.3M | $3.85M | $804K | $2.96M | $2.11M | $516K | $240K | $246K |
| Liabilities | |||||||||||||||||||||||||
| Current Liabilities | |||||||||||||||||||||||||
| Accounts Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $282K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $265K | $7K | $378K | $393K | $31K | $3K | $55K | $16K |
| Short-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $123K | $101K | $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 | $0 | $0 |
| Current 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 |
| Other Current Liabilities | $548K | $234K | $13K | $206K | $333K | $139K | $214K | $0 | $144K | $27K | $50K | $226K | $125K | $3K | $34K | $22K | $10K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Current Liabilities | $548K | $234K | $13K | $206K | $333K | $139K | $338K | $383K | $144K | $27K | $50K | $226K | $125K | $3K | $34K | $22K | $10K | $265K | $7K | $378K | $393K | $31K | $3K | $55K | $16K |
| Long-Term Liabilities | |||||||||||||||||||||||||
| Long-Term Debt | $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 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 | $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 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 | $548K | $234K | $13K | $206K | $333K | $139K | $338K | $383K | $144K | $27K | $50K | $226K | $125K | $3K | $34K | $22K | $10K | $265K | $7K | $378K | $393K | $31K | $3K | $55K | $16K |
| 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 | $51.58M | $29.73M | $26.76M | $26.17M | $24.49M | $19.97M | $19.05M | $19.05M | $19.05M | $18.38M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Retained Earnings | -$33.44M | -$30.35M | -$29.15M | -$25.53M | -$24.67M | -$22.43M | -$22.07M | -$22.11M | -$21.88M | -$20.6M | -$20.17M | -$19.81M | -$19.68M | -$19.34M | -$17M | -$14.01M | -$13.41M | -$11.31M | -$10.9M | -$10.46M | -$7.89M | -$5.03M | -$4.24M | -$4.16M | -$4.12M |
| Comprehensive Income & Other | -$62K | $2K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Stockholders' Equity | $6.94M | $4.48M | $3.92M | $3.84M | $3.74M | $2.82M | $2.69M | $2.69M | $2.69M | $2.63M | $20.13M | $19.6M | $19.6M | $19.6M | $19.4M | $17.82M | $16.72M | $16.34M | $14.74M | $10.89M | $10.45M | $7.11M | $4.76M | $4.35M | $4.35M |
| Total Equity | $25.07M | $3.86M | $1.53M | $4.47M | $3.56M | $357K | -$334K | -$379K | -$141K | $421K | -$40K | -$211K | -$77K | $257K | $2.4M | $3.8M | $3.31M | $5.04M | $3.84M | $426K | $2.56M | $2.08M | $513K | $185K | $229K |
| 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 | $25.62M | $4.09M | $1.54M | $4.68M | $3.89M | $496K | $4K | $4K | $3K | $448K | $10K | $15K | $48K | $260K | $2.44M | $3.83M | $3.32M | $5.3M | $3.85M | $804K | $2.96M | $2.11M | $516K | $240K | $246K |
| Supplementary Data | |||||||||||||||||||||||||
| Total Debt | $0 | $0 | $0 | $0 | $0 | $0 | $123K | $101K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Debt | -$9.36M | -$1.16M | -$158K | -$699K | -$818K | -$252K | $123K | $99K | -$2K | -$19K | -$8K | -$14K | -$15K | -$23K | -$474K | -$162K | -$21K | -$34K | -$35K | -$45K | -$449K | -$170K | -$175K | -$625 | -$4K |
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 | FY 2002 | FY 2001 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 | 2020-09-30 | 2019-09-30 | 2018-09-30 | 2017-09-30 | 2016-09-30 | 2015-09-30 | 2014-09-30 | 2013-09-30 | 2012-09-30 | 2011-09-30 | 2010-09-30 | 2009-09-30 | 2008-09-30 | 2007-09-30 | 2006-09-30 | 2005-09-30 | 2004-09-30 | 2003-09-30 | 2002-09-30 | 2001-09-30 |
| Operating Activities | |||||||||||||||||||||||||
| Net Income | -$3.09M | -$1.21M | -$3.61M | -$867K | -$2.23M | -$365K | $45K | -$238K | -$1.28M | -$424K | -$360K | -$133K | -$334K | -$2.35M | -$2.51M | -$599K | -$1.73M | -$404K | -$436K | -$2.57M | -$2.66M | -$786K | -$82K | -$44K | -$2K |
| Depreciation & Amortization | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $9K | $10K | $16K | $15K | $7K | $2K | $2K | $3K | $4K | $2K | $0 | $0 | $0 | $0 |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $69K | $0 | -$71K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $2.04M | $406K | $64K | $88K | $1.01M | $128K | $0 | $0 | $66K | $69K | $99K | $0 | $0 | $0 | $77K | $163K | $380K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | |||||||||||||||||||||||||
| Accounts Receivable | -$67K | -$18K | $15K | $17K | -$27K | -$10K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $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 |
| Accounts 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 |
| Other Working Capital | -$136K | $43K | -$488 | $38K | -$117K | -$13K | $0 | $0 | $153K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Working Capital Change | -$204K | $25K | $15K | $55K | -$144K | -$23K | -$69K | $136K | $153K | -$58K | -$176K | $101K | $125K | $2K | -$21K | $37K | -$173K | -$107K | -$408K | $45K | $345K | -$17K | -$53K | $44K | $6K |
| Other Non-Cash Items | $0 | -$6K | $2.86M | -$34K | $0 | $0 | $0 | $0 | $750K | $0 | $0 | $4K | $160K | $1.98M | $1.93M | $9K | $1.17M | $220K | $254K | $2.34M | $1.13M | $0 | $0 | $0 | -$48K |
| Net Cash from Operating | -$1.26M | -$779K | -$675K | -$757K | -$1.37M | -$260K | -$24K | -$101K | -$312K | -$413K | -$437K | -$19K | -$39K | -$346K | -$443K | -$382K | -$421K | -$290K | -$587K | -$186K | -$1.17M | -$802K | -$135K | $6 | -$44K |
| Investing Activities | |||||||||||||||||||||||||
| Capital Expenditures | -$3.41M | -$593K | -$383K | -$705K | -$502K | -$48K | $0 | $0 | $0 | -$393K | $0 | $0 | $0 | -$310K | -$746K | -$620K | $0 | $0 | -$622K | -$328K | -$59K | -$307K | -$20K | $0 | -$168K |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$357K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | $0 | $0 | $0 | -$40K | -$23K | $0 | $0 | $0 | -$357K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$31K | -$2.15M | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $18K | $0 | $0 | $0 | $847K | $565K | $810K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $0 | -$392K | $0 | -$381 | -$30 | $0 | $0 | $0 | $357K | $0 | $0 | $0 | $31K | $2K | -$2K | -$203K | -$158K | -$1.87M | -$204K | $110K | -$492K | -$623K | -$53K | -$3K | -$68K |
| Net Cash from Investing | -$3.41M | -$985K | -$383K | -$745K | -$525K | -$48K | $0 | $0 | -$357K | -$393K | $0 | $18K | $31K | -$308K | -$749K | $24K | $408K | -$1.09M | -$2.98M | -$218K | -$551K | -$929K | -$73K | -$3K | -$235K |
| Financing Activities | |||||||||||||||||||||||||
| Debt Repaid | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Common Stock Issuance | $12.59M | $2.92M | $517K | $1.38M | $2.37M | $606K | $0 | $0 | $634K | $817K | $431K | $0 | $0 | $203K | $1.46M | $494K | $0 | $1.38M | $3.6M | $0 | $2M | $1.73M | $383K | $0 | $190K |
| 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 | $340K | -$158K | $0 | $0 | $93K | $561K | $23K | $101K | $652K | $817K | $431K | $0 | $0 | $203K | $1.5M | $498K | $0 | $1.38M | $3.6M | $0 | $2M | $1.73M | $383K | $0 | $190K |
| Net Cash from Financing | $12.93M | $2.77M | $517K | $1.38M | $2.46M | $561K | $23K | $101K | $652K | $817K | $431K | $0 | $0 | $203K | $1.5M | $498K | $0 | $1.38M | $3.6M | $0 | $2M | $1.73M | $383K | $0 | $190K |
| Forex Effect | -$60K | $2K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $8.19M | $1M | -$541K | -$119K | $566K | $252K | -$1K | -$763 | -$17K | $11K | -$6K | -$1K | -$8K | -$451K | $312K | $141K | -$13K | -$1K | $29K | -$404K | $279K | -$5K | $175K | -$3K | -$89K |
| Supplementary Data | |||||||||||||||||||||||||
| Operating Cash Flow | -$1.26M | -$779K | -$675K | -$757K | -$1.37M | -$260K | -$24K | -$101K | -$312K | -$413K | -$437K | -$19K | -$39K | -$346K | -$443K | -$382K | -$421K | -$290K | -$587K | -$186K | -$1.17M | -$802K | -$135K | $6 | -$44K |
| Capital Expenditure | -$3.41M | -$593K | -$383K | -$705K | -$502K | -$48K | $0 | $0 | $0 | -$393K | $0 | $0 | $0 | -$310K | -$746K | -$620K | $0 | $0 | -$622K | -$328K | -$59K | -$307K | -$20K | $0 | -$168K |
| Free Cash Flow | -$4.68M | -$1.37M | -$1.06M | -$1.46M | -$1.87M | -$309K | -$24K | -$101K | -$312K | -$806K | -$437K | -$19K | -$39K | -$657K | -$1.19M | -$1M | -$421K | -$290K | -$1.21M | -$515K | -$1.23M | -$1.11M | -$155K | $6 | -$211K |
| Cash at Beginning | $1.16M | $158K | $699K | $818K | $252K | $56 | $1K | $2K | $19K | $8K | $14K | $15K | $23K | $474K | $162K | $21K | $34K | $35K | $6K | $449K | $170K | $175K | $625 | $4K | $93K |
| Cash at End | $9.36M | $1.16M | $158K | $699K | $818K | $252K | $56 | $1K | $2K | $19K | $8K | $14K | $15K | $23K | $474K | $162K | $21K | $34K | $35K | $45K | $449K | $170K | $175K | $625 | $4K |