Q4 and FY2022At December 31, 2022, the Company had cash and cash equivalents of $52.7 million, compared to $34.9 million at December 31, 2021.
Key components included:
• Cash - was $45.4 million; up $10.5 million from the end of fiscal 2021
• Short-term investments - was $7.4 million, up $7.4 from fiscal 2021
• Deposits and prepaid expenses - was $0.8 million, up $0.2 million
• Inventories - was $2.7 million, down $0.4 million
• AP and accrued liabilities - was $5.1 million, down $6.6
• Current portion of long-term liabilities - was $1.1 million, down $0.1 mil
• Income tax payable - was $10.6 million, up $3.5 million
• Loans payable - was $4.3 million, down $0.4 million
Majestic began fiscal 2022, with $34.9 million in cash. During the year ended December 31, 2022, the Company generated $30.3 million from the Company’s operating activities, net of working capital changes, expended $15.1 million in net investing activities and $1.5 million in net financing activities, and had a foreign exchange gain of $3.2 million, to end at December 31, 2022 with $52.7 million in cash.