RE:RE:sorry this works better(b) Liquidity risk Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The Company’s approach to managing liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company’s reputation. The Company endeavors to have sufficient cash on demand to meet expected operational expenses, including the servicing of financial obligations; this excludes the potential impact of extreme circumstances that cannot be reasonably predicted. At March 31, 2017, the Company has a cash and cash equivalents balance of $1,176,233 (December 31, 2016 - $1,773,279) to settle current liabilities of $1,149,525 (December 31, 2016 - $3,932,144). Included in current liabilities as at December 31, 2016 is $2,808,811 related to convertible debentures and derivatives, which automatically converted to equity on January 16, 2017 (See Note 11). All the Company’s financial liabilities generally have contractual maturities of less than 30 days and are subject to normal trade terms, except for loans payable (Note 9) and other liabilities (Note 10). In addition to the commitments disclosed in Note 16, the Company is obligated to the following contractual maturities of undiscounted cash flows as at March 31, 2017: Carrying amount Contractual cash flows April 1, 2017 to March 31, 2018 April 1, 2018 to March 31, 2020 April 1, 2020 and thereafter $ $ $ $ $ Accounts payable and accrued liabilities 811,511 811,511 811,511 - - Other liabilities (Note 10) 254,244 296,000 148,000 148,000 - Loans payable (Note 9) 1,973,336 3,657,663 256,372 824,715 2,576,576 Total 3,039,091 4,765,174 1,215,883 972,715 2,576,576
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