YEP...RAYTHEON $2M IS ALL BURNED UP... PER RECENT MD&A - DECEMBER 7, 2021 - PAGE 15
Three Months Ending Octobe 31, 2021 (Q1, FY2022
R&D Costs: $1,920,836
- Raytheon ITB. ($1,767,826). - ALL BURNED UP NOW
- Supercluster Funding ($410,530)
- R&D Allocation/Covid Relief ($188,326)
- Sub Total: ($2,366,682)
TOTAL. ($445,846)
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CASH BEGINNING OF PERIOD: $9.652,493
CASH USED IN OPERATION: ($2,642,408)
CASH USED IN INVESTMENT ($38,781)
CASH RECEIVED FOR FINANCING $15,634
CHANGE IN CASH FOR PERIOD: ($2,665, 555)
CASH END OF PERIOD: $6,986,938
During the three month period ended October 31, 2021, the Company had negative cash flow from operations, investing and financing activities of $2.7 million, compared with $3.5 million for the same period ended October 31, 2020.
The cash flow used in operating activities was $2.6 million for the three month period ended October 31, 2021 as compared with $3.1 million for the same period ended October 31 2020, representing a change of $0.4 million or 14%. The decrease in negative cash flow from operating activities can be attributed primarily to a reduction in the loss for the three month period of $2.2 million. This was partially offset by an increase in the investment of working capital of $1.2 million and a decrease of $0.7 million in non-cash operating expenses.
Cash flow used in investing activities was $0.04 million for the three month period ended October 31, 2021 as compared with $0.4 million for the same period in 2020 representing a decrease of $0.3 million or 90%. The decrease in negative cash flow from investing activities can be attributed primarily to reduced fixed asset purchases during the three month period ended October 31, 2021, as well as a leasehold improvement recovery during the three month period ended October 31, 2020.
Cash flow from financing activities was $0.02 million for the three month period ended October 31, 2021 as compared to $nil for the same period ended October 31, 2020. Cash received from financing activities for the current period relates to proceeds on issuance of share capital upon exercise of stock options net of lease payments.