Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.20.2
Consolidated Statements of Cash Flows
$ in Thousands, $ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2020
USD ($)
Mar. 31, 2019
USD ($)
Mar. 31, 2020
USD ($)
Mar. 31, 2019
USD ($)
Cash flows used in operating activities:        
Net loss for the year $ (25,513) $ (39,366) $ (25,513) $ (39,366)
Adjustments:        
Amortization of intangible assets 1,910 1,949 1,910 1,949
Depreciation of equipment 410 384 410 384
Stock-based compensation expense 1,953 777    
Fair value of warrant liabilities 1,116 4,745 1,116 4,745
Accretion of interest on convertible debenture 145 156    
Unrealized exchange loss 246 380    
Total adjustments 5,780 8,391    
Changes in non-cash working capital items (2,993) 6,294 (2,993) 6,294
Changes in other assets (225) 28    
Changes in deferred financing costs 7 (134)    
Net cash used in operating activities (22,944) (24,787)    
Cash flows from (used in) investing activities:        
Acquisition of equipment (319) (534)    
Acquisition of short-term investments (1,923) (18,850)    
Maturity of short-term investments 10,380 9,942    
Net cash from (used in) investing activities 8,138 (9,442)    
Cash flows from (used in) financing activities:        
Proceeds from exercise of warrants 7,706 796 7,706  
Proceeds from exercise of stock options 45 2    
Payment upon maturity of debentures (1,556)    
Net cash from financing activities 13,176 45,690    
Effect of exchange rate fluctuations on cash and cash equivalents (254) 29    
Translation effect on cash and cash equivalents related to reporting currency (747) (1,042)    
Net (decrease) increase in cash and cash equivalents (2,631) 10,448    
Cash and cash equivalents, beginning of year 16,871 6,423 16,871  
Cash and cash equivalents, end of year 14,240 16,871 14,240 16,871
Cash and cash equivalents are comprised of:        
Cash 4,869 1,420 4,869 1,420
Cash equivalents 9,371 15,451 9,371 $ 15,451
At-the-market Offering [Member]        
Cash flows from (used in) financing activities:        
Net proceeds from shares issued 6,981 $ 7,000  
Public Offering [Member]        
Cash flows from (used in) financing activities:        
Net proceeds from shares issued $ 44,892