Input Capital (TSXV: INP) â Initiating Coverage - First ... - Baystreet.ca

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Page 22 Appendix Input Capital current Canola contracts Source: Input Capital Income Statement 2012 2013E 2014E Capital Deployed $ 6,000,000 $ 19,500,000 $ 25,282,288 Base Tonnage Received N/A 14,625 18,962 Avg Contract Price $ per tonne N/A $ 50 $ 50 Avg Canola Price $ per tonne N/A $ 500 $ 500 Sales $ - $ 6,581,250 $ 8,532,772 COGS $ - $ - $ - Gross Profit $ - $ 6,581,250 $ 8,532,772 G&A Expenses $ (364,969) $ (1,200,000) $ (1,236,000) EBITDA $ (364,969) $ 5,381,250 $ 7,296,772 Amortization $ (100) $ (3,250,000) $ (4,213,715) EBIT $ (365,069) $ 2,131,250 $ 3,083,058 Non-recurring income (expenses) $ (121,105) Income before income tax (loss) $ (486,174) $ 2,131,250 $ 3,083,058 Income tax (recovery) expense $ (116,568) $ 575,438 $ 832,425.55 Net income (loss) $ (369,606) $ 1,555,813 $ 2,250,632 Weighted average number of common shares $ 11,415,448 $ 35,577,273 $ 35,577,273 Earnings per share (loss) $ (0.03) $ 0.04 $ 0.06 © 2013 Fundamental Research Corp. “10 Years of Bringing Undiscovered Investment Opportunities to the Forefront “ www.researchfrc.com PLEASE READ THE IMPORTANT DISCLOSURES AT THE BACK OF THIS REPORT
Page 23 Cash Flow Statement 2012 2013E 2014E Operating activities Net income (loss) for the year $ (369,606) $ 1,555,813 $ 2,250,632 Adjustments Amortization of intangible assets $ 100 $ 3,250,000 $ 4,213,715 Equity pick up Input Capital Limited Partnership $ 11,125 Income tax (recovery) expense $ (116,568) Interest income $ (58,094) Share based payments $ 123,080 Unrealized market value adjustment $ 120,721 Interest received from marketable securities $ 5,905 Changes in non-cash working capital $ 1,238,706 $ 976,476 $ 65,607 $ 955,369 $ 5,782,288 $ 6,529,954 Investing activities $ 5.05 13% Acquisition of canola interests $ (6,133,703) $ (17,500,000) $ (5,782,288) Acquisition of marketable securities $ (15,500,000) Proceeds from sale marketable securities $ 2,694,095 $ 12,805,905 Purchase of intangible assets $ (5,985) Cash acquired in partnership acquisitions $ 118,007 $ 860,746 $ (18,827,586) $ (3,833,349) $ (5,782,288) Financing activities Shares issued $ 20,352,522 $ - Share issuance costs $ (969,835) $ - $ 19,382,687 $ - $ - Net increase (decrease ) in cash $ 1,510,470 $ 1,948,939 $ 747,665 Cash – beginning of year - - - $ 1,510,470 $ 3,459,409 Cash – end of year $ 1,510,470 $ 3,459,409 $ 4,207,075 © 2013 Fundamental Research Corp. “10 Years of Bringing Undiscovered Investment Opportunities to the Forefront “ www.researchfrc.com PLEASE READ THE IMPORTANT DISCLOSURES AT THE BACK OF THIS REPORT
Page 1 and 2: Siddharth Rajeev, B.Tech, MBA, CFA
Page 3 and 4: Page 3 • Public company status gi
Page 5 and 6: Page 5 Gord Nystuen - Vice-Presiden
Page 7 and 8: Page 7 Source: Barchart Inflation:
Page 9 and 10: Page 9 Source: Ontario Ministry of
Page 11 and 12: Page 11 below shows the seasonality
Page 13 and 14: Page 13 will cause rent/mortgages t
Page 15 and 16: Page 15 Canola cash receipts (in $1
Page 17 and 18: Page 17 Source:Barcharts We believe
Page 19 and 20: Page 19 million (EPS: 0.06) in FY20
Page 21: Page 21 Input Comparable Input's FV
Page 25: Page 25 Fundamental Research Corp.

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