Consolidated Statement of Cash Flows
Year ended March 31, 2012, with comparative figures for 2011
| 2012 | 2011 | |
|---|---|---|
| Cash provided by (used in): | ||
| Operations: | ||
| Deficiency of revenue over expenses | (3,017) | (154,517) |
| Items not involving cash: | ||
| Amortization of deferred contributions | (19,480,520) | (20,845,810) |
| Amortization of lease inducement | — | (13,500) |
| Write down of long-term advances (note 3) | 300,000 | 100,000 |
| Loss on disposal of long-term advances (note 3) | — | 50,753 |
| Amortization of capital assets | 17,206 | 62,575 |
| Loss on disposal of capital assets | — | 1,416 |
| (19,166,331) | (20,799,083) | |
| Change in non-cash assets and liabilities: | ||
| Accounts receivable | 111,747 | (91,589) |
| Advances to genomics research projects | (1,904,164) | 15,513 |
| Deposits and prepaid expenses | 4,800 | 9,334 |
| Accounts payable and accrued liabilities | 5,778 | 22,072 |
| Deferred contributions | 20,163,205 | 19,422,893 |
| (784,965) | (1,420,860) | |
| Investments: | ||
| Increase in long-term advances (note 3) | (175,000) | (225,000) |
| Proceeds from long-term advances (note 3) | 50,000 | 49,247 |
| Purchase of capital assets | (18,692) | — |
| (143,692) | (175,753) | |
| Decrease in cash | (928,657) | (1,596,613) |
| Cash, beginning of year | 4,819,079 | 6,415,692 |
| Cash, end of year | 3,890,422 | 4,819,079 |
See accompanying notes to consolidated financial statements.