Consolidated Financial Statements

Voxtur Analytics Corp.

(previously known as - iLOOKABOUT Corp.)

For the years ended December 31, 2020 and 2019

(In thousands of Canadian dollars, except per share amounts)

Voxtur Analytics Corp. (previously known as - iLOOKABOUT Corp.) Consolidated Statements of Financial Position

(In thousands of Canadian dollars)

As at

Note

December 31, 2020

December 31, 2019

Assets

Current Assets:

Cash

$

6,002

$

3,560

Trade and other receivables, net

25

2,377

2,269

Contract assets

5

114

70

Prepaid expenses and other current assets

698

640

9,191

6,539

Non-current Assets:

Other non-current assets

507

165

Contract assets

5

133

157

Investment

26

3,297

1,994

Right-of-use assets

9

1,337

1,719

Property and equipment

6

461

505

Deferred tax asset

10

-

145

Intangible assets

7

16,048

11,054

Goodwill

8

8,178

7,455

29,961

23,194

Total Assets

$

39,152

$

29,733

Liabilities and Shareholders' Equity

Current Liabilities:

Accounts payable and accrued liabilities

$

3,510

$

3,737

Unearned revenue

11

2,018

1,389

Lease obligations

12

348

330

Current portion of long-term debt

13

1,250

188

7,126

5,644

Non-current Liabilities:

Unearned revenue

11

1,238

840

Lease obligations

12

1,071

1,439

Long-term debt

13

3,868

1,115

Convertible debentures

14

7,644

6,959

Deferred tax liability

10

324

170

14,145

10,523

Shareholders' Equity

17,881

13,566

Going concern

2(a)

Subsequent events

27

Total Liabilities and Shareholders' Equity

$

39,152

$

29,733

The accompanying notes are an integral part of these consolidated financial statements.

Page | 2

Voxtur Analytics Corp. (previously known as - iLOOKABOUT Corp.) Consolidated Statements of Comprehensive Loss

(In thousands of Canadian dollars, except per share amounts)

Years ended

Note

December 31, 2020

December 31, 2019

Revenue

16,17,19

$

20,511

$

14,934

Direct operating expenses

11,184

6,778

Gross margin

9,327

8,156

Other operating expenses:

Technology and operations

5,927

3,839

Selling and business development

1,739

1,270

General and administration

7,448

5,523

15,114

10,632

Loss from operations

(5,787)

(2,476)

Other income

20

2,282

413

Finance costs, net

22

(1,269)

(372)

Foreign exchange loss

(799)

(93)

Loss for the year before income tax recovery

$

(5,573)

$

(2,528)

Income tax recovery (expense)

10

(593)

645

Loss for the year

$

(6,166)

$

(1,883)

Other comprehensive loss:

Items that will not be reclassified to loss

for the year:

Change in fair value of investment

26

1,037

630

Foreign exchange gain on the translation of

foreign operations

245

84

1,282

714

Comprehensive loss for the year

$

(4,884)

$

(1,169)

Weighted average number of common shares

Basic and diluted

23

126,566,493

96,831,784

Loss per share

Basic and diluted

23

$

(0.05)

$

(0.02)

The accompanying notes are an integral part of these consolidated financial statements.

Page | 3

Voxtur Analytics Corp. (previously known as - iLOOKABOUT Corp.) Consolidated Statements of Changes in Shareholders' Equity

(In thousands of Canadian dollars)

Year ended December 31, 2020

Common

Warrant

Contributed

Other

AOCI1

Note

share capital

capital

surplus

reserve

Deficit

Total Equity

Balance at December 31, 2019

$

22,881

$

1,147

$

6,647

$

1,332

$

(18,850)

$

409

$

13,566

Loss for the year

-

-

-

-

(6,166)

-

(6,166)

Other comprehensive loss:

-

Change in fair value of investment

26

-

-

-

-

-

1,037

1,037

Foreign exchange gain on the translation of

foreign operations

-

-

-

-

-

245

245

Comprehensive loss for the year

-

-

-

-

(6,166)

1,282

(4,884)

Issuance of common shares and warrants

15(a)

7,204

1,315

-

-

-

-

8,519

Conversion of debentures

15(c)

279

-

-

(41)

-

-

238

Warrants exercised

15(b)

38

(6)

-

-

-

-

32

Share-based compensation

21

-

-

410

-

-

-

410

Balance at December 31, 2020

$

30,402

$

2,456

$

7,057

$

1,291

$

(25,016)

$

1,691

$

17,881

Year ended December 31, 2019

Common

Warrant

Contributed

Other

AOCI1

Note

share capital

capital

surplus

reserve

Deficit

Total Equity

Balance at December 31, 2018

$

18,352

$

230

$

6,287

$

-

$

(16,967)

$

(305)

$

7,597

Loss for the year

-

-

-

-

(1,883)

-

(1,883)

Other comprehensive loss:

Change in fair value of investment

-

-

-

-

-

630

630

Foreign exchange gain on the translation of

foreign operations

-

-

-

-

-

84

84

Comprehensive loss for the year

-

-

-

-

(1,883)

714

(1,169)

Issuance of common shares, warrants and

convertible debentures

4,354

1,050

-

1,332

-

-

6,736

Warrants expired

-

(133)

133

-

-

-

-

Options exercised

175

-

(82)

-

-

-

93

Share-based compensation

-

-

309

-

-

-

309

Balance at December 31, 2019

$

22,881

$

1,147

$

6,647

$

1,332

$

(18,850)

$

409

$

13,566

1 AOCI is defined as Accumulated other comprehensive income.

The accompanying notes are an integral part of these consolidated financial statements.

Page | 4

Voxtur Analytics Corp. (previously known as - iLOOKABOUT Corp.) Consolidated Statements of Cash Flows

(In thousands of Canadian dollars)

Years ended

Note

December 31, 2020

December 31, 2019

Cash flows from operating activities

Loss for the year

$

(6,166)

$

(1,883)

Adjustments for:

Amortization of equipment

6

150

152

Amortization of intangible assets

7

2,018

926

Amortization of right-of-use assets

9

371

235

Bad debt expense

-

39

Unrealized foreign exchange (gain) loss

(781)

46

Finance costs, net

22

1,269

372

Loan foregiveness

20 (c)

(623)

-

Income tax (recovery) expense

10

593

(645)

Share-based compensation expense

410

309

(2,760)

(449)

Changes in non-cash operating assets and liabilities

24

(373)

(2,036)

Interest paid

(162)

(17)

Interest received

12

113

Tax credits received

20 (a)

76

1,320

Cash used in operating activities

(3,207)

(1,069)

Cash flows from financing activities

Repayment of lease obligations

(409)

(260)

Repayment of secured term credit facility

(188)

-

Repayment of debt financing of vehicles

-

(6)

Proceeds from term loans, net

13

4,625

1,287

Proceeds from issuance of common shares and

warrants

15(a)

7,626

-

Proceeds from warrants exercised

15(b)

32

-

Proceeds from options exercised

-

93

Debt and equity issuance costs

(52)

(48)

Cash provided by financing activities

11,634

1,066

Cash flows from investing activities

Advances of note receivable

4

-

(1,056)

Purchase of Apex, net of cash received

4

(5,879)

-

Settlement of pre-existing relationship

4

-

(261)

Purchase of equipment

6

(80)

(38)

Purchase of intangible asset

7

(26)

(22)

Cash used in investing activities

(5,985)

(1,377)

Increase (decrease) in cash for the year

2,442

(1,380)

Effect of exchange rate fluctuations on cash

-

(12)

Cash - beginning of year

3,560

4,253

Cash - obtained from acquisition

4

-

699

Cash - end of year

$

6,002

$

3,560

The accompanying notes are an integral part of these consolidated financial statements.

Page | 5

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Voxtur Analytics Corp. published this content on 30 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 May 2021 14:14:05 UTC.