PEI Cannabis Annual Report 2024

PRINCE EDWARD ISLAND CANNABIS MANAGEMENT CORPORATION Statement of Cash Flow Year Ended March 31, 2024

2024

2023

Cash flows from operating activities Net income Items not affecting cash: Amortization of property and equipment Amortization of right-of-use assets

$ 3,035,779

$ 2,909,096

319,503 179,663

303,927 131,868

3,534,945

3,344,891

Changes in non-cash working capital: Accounts receivable

109,345 1,214,781

153,982 (1,452,428)

Inventory

(500)

Prepaid expenses

-

(598,820)

Accounts payable and accrued liabilities

(668,253)

3,893

Deferred revenue

2,191

PLEASE CONSUME RESPONSIBLY

728,699

(1,964,508)

4,263,644

1,380,383

Cash flows from investing activities

(1,069,894)

Purchase of property and equipment Purchase of right-of-use assets

(77,275) (637,276)

-

(1,069,894)

(714,551)

Cash flows from financing activities

(688,421) (3,035,779) (157,033)

Advances (to) from Province of Prince Edward Island Annual income distribution to Province of Prince Edward Island

1,920,844 (2,909,096) (115,889)

Repayment of lease liabilities Proceeds from lease liabilities

-

637,276

(3,881,233)

(466,865)

Increase (decrease) in cash

(687,483)

198,967

Cash - beginning of year

2,704,776

2,505,809

Cash - end of year

$ 2,017,293

$ 2,704,776

Cash consists of: Cash on hand

$ 44,782 1,972,511

$ 36,782 2,667,994

Cash in financial institution

$ 2,017,293

$ 2,704,776

Cash flow supplementary information Interest received

$ 218,505

$ 72,945

$ 64,519

Interest paid

$ 44,172

Notes 1 to 18 are an integral part of these financial statements 6

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PEICMC 2023-2024 Annual Report