| Mar'20 | Dec'19 | Sep'19 | Jun'19 | Mar'19 | Dec'18 | Sep'18 | Jun'18 | Mar'18 |
|---|---|---|---|---|---|---|---|---|
Operating activities: | ||||||||
Net income (loss) | ||||||||
-2,134 | 2,103 | 2,099 | 2,618 | 1,390 | 4,148 | 2,484 | 3,225 | 3,157 |
Adjustments for: | ||||||||
Depreciation of property, equipment and intangibles | ||||||||
9,408 | 9,034 | 8,555 | 8,750 | 8,667 | 8,338 | 8,208 | 7,719 | 7,219 |
Stock-based compensation | ||||||||
652 | 696 | 706 | -990 | 564 | - | 744 | 718 | - |
Stock-based compensation | ||||||||
- | - | - | - | - | - | - | - | 737 |
Unrealized foreign exchange | ||||||||
2 | -8 | 0 | -2 | 2 | -35 | 45 | 1 | -7 |
Deferred income tax recovery | ||||||||
-579 | -690 | -776 | -781 | -1,192 | -222 | -617 | -848 | -717 |
Change in fair value of contingent consideration | ||||||||
-190 | 89 | 181 | 1,188 | 1,400 | 735 | 673 | -271 | -165 |
Accretion on contingent consideration and deferred consideration | ||||||||
10 | 10 | 10 | 59 | 53 | 43 | 35 | 42 | 44 |
Amortization of deferred financing fees | ||||||||
90 | 80 | 65 | 65 | 65 | 65 | 65 | 65 | 65 |
(Gain) loss from equity investment | ||||||||
-15 | 1,350 | 77 | 214 | 125 | - | - | - | - |
Change in current tax receivable | ||||||||
1,181 | - | 17 | 1,139 | -1,003 | - | 673 | 2,266 | -674 |
Change in trade and other receivables | ||||||||
-3,168 | -1,479 | 182 | 450 | -529 | 2,200 | 1,157 | 2,139 | -1,515 |
Change in prepaid expenses | ||||||||
264 | 135 | 59 | -213 | -114 | 147 | -57 | -417 | 155 |
Change in inventories | ||||||||
-26 | -7 | -153 | -119 | 227 | -168 | 176 | -94 | 64 |
Change in trade and other payables | ||||||||
-1,385 | 29 | -83 | 81 | 94 | -744 | 2,088 | -141 | -1,101 |
Change in employee benefits | ||||||||
151 | -123 | 135 | 59 | 39 | -3 | 225 | 39 | 65 |
Net cash provided by operating activities | ||||||||
7,784 | 12,335 | 10,711 | 9,582 | 12,375 | 11,144 | 11,912 | 6,653 | 11,282 |
Financing activities | ||||||||
Repayment of member loans | ||||||||
- | - | 14 | - | 49 | - | 186 | - | 435 |
Proceeds (repayment) of member loans | ||||||||
- | - | - | 45 | - | - | - | 186 | - |
Equity investment loan | ||||||||
- | - | - | 30 | -30 | - | - | - | - |
Proceeds from short-term advances | ||||||||
- | - | - | - | 72 | - | 110 | - | - |
Payment of deferred consideration | ||||||||
465 | - | - | 1,100 | - | - | - | 1,000 | - |
Repayment of short-term advances | ||||||||
- | - | - | 99 | - | - | - | - | - |
Payment of contingent consideration | ||||||||
- | - | - | 4,795 | - | - | - | - | - |
Repayment of notes payable and bank indebtedness | ||||||||
3,000 | - | 5,625 | - | 5,925 | - | - | - | - |
Proceeds from bank indebtedness | ||||||||
5,000 | - | - | - | - | - | - | - | - |
Repayment of notes payable and bank indebtedness | ||||||||
- | - | - | 1,625 | - | - | - | 0 | 11,000 |
Proceeds on bank indebtedness | ||||||||
- | - | 7,000 | 4,300 | - | 4,500 | 4,500 | 4,500 | 9,300 |
Payment of deferred financing fees | ||||||||
34 | - | - | - | - | - | - | - | - |
Proceeds from exercise of stock options | ||||||||
- | - | 6 | 419 | - | - | - | - | - |
Distributions to non-controlling interest | ||||||||
2,229 | 4,021 | 3,615 | 4,153 | 4,034 | 4,671 | 4,149 | 3,694 | 6,774 |
Repurchase of shares for cancellation | ||||||||
-127 | -759 | -1,109 | -1,380 | -1,493 | -2,171 | -564 | -511 | -528 |
Net cash used in financing activities | ||||||||
-857 | -4,616 | -3,357 | -8,359 | -11,459 | -5,627 | -288 | -519 | -9,437 |
Investing activities | ||||||||
Acquisition of property and equipment | ||||||||
1 | 13 | 4 | 10 | 30 | 25 | 2 | 0 | 5 |
Deferred asset acquisition costs | ||||||||
159 | 58 | -38 | 14 | 24 | - | - | - | - |
Acquisition of equity interest from non-controlling interest | ||||||||
- | - | 7,018 | 2,415 | - | - | - | - | - |
Acquisition of anesthesia services providers | ||||||||
- | 5,847 | 2,174 | 1,791 | 5,239 | 2,255 | 9,275 | 6,483 | 9,495 |
Distribution received from equity investment | ||||||||
- | - | 92 | - | - | - | - | - | - |
Purchase adjustment relating to anesthesia service providers acquired in prior periods | ||||||||
- | - | 4,366 | - | - | - | - | - | - |
Net cash used in investing activities | ||||||||
-160 | -6,366 | -4,700 | -4,231 | -5,293 | -2,397 | -9,278 | -6,484 | -9,500 |
Effects of foreign exchange on cash and cash equivalents | ||||||||
-7 | 0 | -0 | 0 | 0 | -4 | 17 | -11 | 1 |
Increase (decrease) in cash and cash equivalents | ||||||||
6,758 | 1,353 | 2,652 | -3,007 | -4,376 | 3,114 | 2,362 | -362 | -7,654 |
Supplemental disclosures: | ||||||||
Cash interest paid | ||||||||
606 | 523 | 772 | 875 | 884 | 1,139 | 600 | 772 | 668 |
Non-cash acquisition financing | ||||||||
- | - | 586 | - | - | - | - | - | - |
Taxes paid | ||||||||
786 | 487 | 1,359 | 1,924 | 355 | 953 | 1,681 | 3,708 | 712 |
Operating lease payments | ||||||||
69 | 90 | 90 | 95 | 92 | - | 73 | 71 | - |
Non-cash acquisition costs | ||||||||
- | - | - | - | 116 | - | - | - | - |