Assignment
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AuroraCannabisDeck.pptx
Aurora Cannabis(ACB)
Cash Flow- Operating Activities
| Year ended June 30, | |||||
| Restated - Note 2(h) | |||||
| Notes | 2020 | 2019 | |||
| $ | $ | ||||
| Operating activities | |||||
| Net loss from continuing operations | (3,300,493 | ) | (300,740 | ) | |
| Adjustments for non-cash items: | |||||
| Unrealized gain on changes in fair value of biological assets | 8 | (56,614 | ) | (92,503 | ) |
| Changes in fair value included in inventory sold | 91,825 | 71,821 | |||
| Depreciation of property, plant and equipment | 10 | 74,314 | 45,362 | ||
| Amortization of intangible assets | 14 | 40,577 | 42,893 | ||
| Share-based compensation | 18(a)(b) | 59,899 | 107,039 | ||
| Non-cash acquisition costs | — | 4,243 | |||
| Impairment of property, plant and equipment | 10 | 157,838 | — | ||
| Impairment of investment in associate | 7 | 75,035 | 73,289 | ||
| Impairment of intangible assets and goodwill | 14 | 2,544,144 | 9,002 | ||
| Accrued interest and accretion expense | 15, 16 | 18,591 | 22,798 | ||
| Interest and other income | (4,835 | ) | (265 | ) | |
| Deferred tax expense (recovery) | (78,303 | ) | (23,909 | ) | |
| Other (losses) gains, net | 20 | 28,643 | (109,464 | ) | |
| Foreign exchange loss | 12,779 | (3,814 | ) | ||
| Changes in non-cash working capital | 21 | 7,643 | (37,285 | ) | |
| Net cash used in operating activities from discontinued operations | (8,995 | ) | (712 | ) | |
| Net cash used in operating activities | (337,952 | ) | (192,245 | ) | |
Cash Flow- Investing Activities
| Investing activities | |||||
| Marketable securities and derivative investments | 6 | (2,000 | ) | (50,584 | ) |
| Proceeds from disposal of marketable securities and derivatives | 6 | 90,843 | 46,975 | ||
| Purchase of property, plant and equipment, and intangible assets | 10 | (355,006 | ) | (414,190 | ) |
| Disposal of property, plant and equipment | 10 | 3,739 | — | ||
| Acquisition of businesses, net of cash acquired | 12 | 280 | 114,213 | ||
| Payment of contingent consideration | (1,993 | ) | (4,112 | ) | |
| Loan receivable | (3,643 | ) | — | ||
| Dividends received | — | 828 | |||
| Deposits | (17,744 | ) | (5,452 | ) | |
| Proceeds from disposal of investment in associates | 5(c) | 27,600 | 134 | ||
| Net cash used in investing activities from discontinued operations | 8,441 | (109 | ) | ||
| Net cash used in investing activities | (249,483 | ) | (312,297 | ) | |
Cash Flow- Financing Activities
| Proceeds from long-term loans | 86,394 | 605,104 | ||||
| Repayment of long-term loans | (115,130 | ) | (21,126 | ) | ||
| Repayment of short-term loans | — | (238 | ) | |||
| Repayment of convertible debenture | (2,306 | ) | — | |||
| Payments of principal portion of lease liabilities | (7,788 | ) | — | |||
| Proceeds from lease inducements | 1,746 | — | ||||
| Restricted cash | 46,066 | (32,668 | ) | |||
| Financing fees | (1,789 | ) | (18,709 | ) | ||
| Shares issued for cash, net of share issue costs | 575,506 | 59,331 | ||||
| Capital contribution from non-controlling interest | — | 5,854 | ||||
| Net cash used in financing activities from discontinued operations | (137 | ) | — | |||
| Net cash provided by financing activities | 582,562 | 597,548 | ||||
| Effect of foreign exchange on cash and cash equivalents | (5,675 | ) | 2,936 | |||
| Increase (decrease) in cash and cash equivalents | (10,548 | ) | 95,942 | |||
| Cash and cash equivalents, beginning of year | 172,727 | 76,785 | ||||
| Cash and cash equivalents, end of year | 162,179 | 172,727 |
Balance Sheet- Assets
| Restated - Note 2(h) | |||||
| Notes | June 30, 2020 | June 30, 2019 | |||
| $ | |||||
| Assets | |||||
| Current | |||||
| Cash and cash equivalents | 162,179 | 172,727 | |||
| Restricted cash | — | 46,066 | |||
| Accounts receivable | 4, 28(a) | 54,110 | 103,493 | ||
| Income taxes receivable | — | 8,833 | |||
| Marketable securities | 6(a) | 7,066 | 143,248 | ||
| Derivatives | 6(b) | 11,791 | — | ||
| Biological assets | 8 | 35,435 | 50,567 | ||
| Inventory | 9 | 121,827 | 111,321 | ||
| Prepaids and other current assets | 22,137 | 24,323 | |||
| Assets held for sale | 11(a) | 6,194 | — | ||
| 420,739 | |||||
| Property, plant and equipment | 10 | 946,380 | 765,567 | ||
| Derivatives | 6(b) | 41,791 | 86,409 | ||
| Deposits | 12,329 | 6,926 | |||
| Loan receivable | 23 | 3,643 | — | ||
| Investments in associates and joint ventures | 7 | 18,114 | 118,845 | ||
| Intangible assets | 14 | 412,267 | 688,366 | ||
| Goodwill | 14 | 928,432 | 3,172,550 | ||
| Total assets | 2,783,695 | 5,499,241 |
Balance Sheet- Liability
| Liabilities | |||||
| Current | |||||
| Accounts payable and accrued liabilities | 28(b) | 95,574 | 152,884 | ||
| Deferred revenue | 3,505 | 749 | |||
| Convertible debentures | 15 | 32,110 | 235,909 | ||
| Loans and borrowings | 16 | 120,508 | 13,758 | ||
| Contingent consideration payable | 27 | 19,604 | 28,137 | ||
| Deferred gain on derivatives | 20 | 728 | |||
| Provisions | 3, 24 | 1,485 | 4,200 | ||
| 272,806 | 436,365 | ||||
| Convertible debentures | 15 | 294,928 | 267,672 | ||
| Loans and borrowings | 16 | 83,701 | 127,486 | ||
| Derivative liability | 15(iii) | 1,827 | 177,395 | ||
| Other long-term liability | 37 | 11,979 | |||
| Deferred tax liability | 22 | 3,946 | 90,970 | ||
| Total liabilities | 657,245 | 1,111,867 | |||
Balance Sheet- Equity
| Shareholders’ equity | |||||
| Share capital | 17 | 5,785,395 | 4,673,118 | ||
| Reserves | 145,395 | 139,327 | |||
| Accumulated other comprehensive loss | (187,197 | ) | (143,170 | ) | |
| Deficit | (3,592,787 | ) | (286,311 | ) | |
| Total equity attributable to Aurora shareholders | 2,150,806 | 4,382,964 | |||
| Non-controlling interests | 13 | (24,356 | ) | 4,410 | |
| Total equity | 2,126,450 | 4,387,374 | |||
| Total liabilities and equity | 2,783,695 | 5,499,241 |
Income Statement- Revenue From Sales
| Notes | 2020 | 2019 | |||
| $ | $ | ||||
| Revenue from sale of goods | 25 | 323,201 | 271,105 | ||
| Revenue from provision of services | 25 | 5,002 | 7,589 | ||
| Excise taxes | 25 | (49,297 | ) | (33,158 | ) |
| Net revenue | 278,906 | 245,536 | |||
| Cost of sales | 277,234 | 123,778 | |||
| Gross profit before fair value adjustments | 1,672 | 121,758 | |||
| Changes in fair value of inventory sold | 91,825 | 71,821 | |||
| Unrealized gain on changes in fair value of biological assets | 8 | (56,614 | ) | (92,503 | ) |
Income Statement- Gross Profit(Loss)
| Gross (loss) profit | (33,539 | ) | |||
| Expense | |||||
| General and administration | 205,276 | 159,069 | |||
| Sales and marketing | 91,271 | 99,272 | |||
| Acquisition costs | 6,493 | 17,217 | |||
| Research and development | 26,070 | 14,778 | |||
| Depreciation and amortization | 10, 14 | 68,414 | 63,343 | ||
| Share-based compensation | 18(a)(b) | 59,899 | 107,039 | ||
| 457,423 | 460,718 |
Income Statement- Loss From Operations
| Loss from operations | (490,962 | ) | (318,278 | ) | |
| Other (expense) income | |||||
| Interest and other income | 4,990 | 3,679 | |||
| Finance and other costs | (77,538 | ) | (39,409 | ) | |
| Foreign exchange (“FX”) loss | (12,779 | ) | (5,147 | ) | |
| Other (losses) gains | 20 | (28,643 | ) | 110,797 | |
| Restructuring charges | 3 | (1,947 | ) | — | |
| Impairment of property, plant and equipment | 10, 11(a) | (157,838 | ) | — | |
| Impairment of investment in associates | 7 | (75,035 | ) | (73,289 | ) |
| Impairment of intangible assets and goodwill | 14 | (2,544,144 | ) | (9,002 | ) |
| (2,892,934 | ) | (12,371 | ) | ||
| Loss from operations before taxes and discontinued operations | (3,383,896 | ) | (330,649 | ) | |
| Income tax recovery | |||||
| Current | 22 | 5,100 | 6,000 | ||
| Deferred, net | 22 | 78,303 | 23,909 | ||
| 83,403 | 29,909 | ||||
| Net loss from continuing operations | (3,300,493 | ) | (300,740 | ) | |
| Net (loss) income from discontinued operations, net of tax | (9,844 | ) | 144 | ||
| Net loss | (3,310,337 | ) | (300,596 | ) |
