PEI Cannabis 2023 Annual Report

PRINCE EDWARD ISLAND CANNABIS MANAGEMENT CORPORATION Statement of Cash Flow Year Ended March 31, 2023

2023

2022

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

$ 2,909,096

$ 2,609,580

303,927 131,868

284,393 131,868 33,592

-

Loss on disposal of property and equipment

3,344,891

3,059,433

Changes in non-cash working capital: Accounts receivable

153,982 (1,452,428)

(72,637) 1,434,604

Inventory

-

Prepaid expenses

4,545

(668,253)

Accounts payable and accrued liabilities

1,457,869

2,190

Deferred revenue

4,359

PLEASE CONSUME RESPONSIBLY

(1,964,509)

2,828,740

1,380,382

5,888,173

Cash flows from investing activities

(77,275) (637,276)

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

(162,590)

-

(714,551)

(162,590)

Cash flows from financing activities

1,920,844 (2,909,096) 637,276 (115,888)

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

2,542,292 (2,609,580) (111,951) (5,054,613) -

Proceeds from lease liabilities Repayment of lease liabilities Repayment of debentures payable

-

(466,864)

(5,233,852)

Increase in cash

198,967

491,731

Cash - beginning of year

2,505,809

2,014,078

Cash - end of year

$ 2,704,776

$ 2,505,809

Cash consists of: Cash on hand

$ 36,782 2,667,994

$ 36,115 2,469,694

Cash in financial institution

$ 2,704,776

$ 2,505,809

Cash flow supplementary information Interest received

$ 72,945

$ 14,841

$ 44,172

Interest paid

$ 230,258

33

PEICMC 2022-2023 Annual Report

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