Bontan Corporation Inc.
Consolidated Statements of Cash Flows
(Canadian Dollars)
For the Years Ended March 31, 2005, 2004 and 2003
Page 5 Financial Statements
2005
2004
2003
Cash flows from operating activities
Net loss for year
$
(5,056,576)
$ (1,360,958)
$ (319,363)
Write off of product development costs
88,831
Unrealized loss on investments
16,348
-
Provision for rent reversed
(34,287)
Loss from discontinued operations
179,678
Other non-cash expenses
4,815,922
703,702
(179,678)
Prepaid and other receivable
27,732
(45,862)
11,769
Accounts payable and accrued liabilities
(206,667)
281,552
3,145
(437,528)
(421,566)
(215,618)
Investing Activities
Short term investments
275,632
Interest in gas properties
(216,568)
Advances
(2,530,353)
Product development costs
49,460
59,064
Financing Activities
Net advances from shareholders
(500,961)
241,517
138,298
Common shares issued
1,239,214
3,191,095
738,253
3,432,612
Increase (decrease) in cash during year
359,789
480,693
(27,860)
Cash at beginning of year
500,541
19,848
47,708
Cash at end of year
860,330
$ 500,541
$ 19,848
Supplemental disclosures
Non-cash operating activities
Consulting fees settled for common
shares and options
$ 148,675
$ -
Consulting fees accruals to be settled for
common shares
555,027
Consulting fees prepaid in shares
1,732,929
6,548,851
$ 703,702
Non-cash investing activities
Advances converted into interest in oil
properties and investment
2,530,353
Interest in oil properties acquired by
converting advances
(2,161,986)
Investments acquired by converting advances
(368,367)