2023 Shares Amount Shares Shares Capital Loss Deficit Total
----------- --------
January
1, 2023 266,812,131 $332,882 $ - $ - $184,960 $ (1,216) $(475,121) $ 41,505
Exercise of
stock
options 120,000 144 - - (67) - - 77
Exercise of
warrant by
Allseas 11,578,620 70,016 - - (69,900) - - 116
Shares issued
to Allseas 15,000,000 15,910 - - - - - 15,910
Conversion of
restricted
share units,
net of
shares
withheld for
taxes 3,573,993 3,704 - - (3,674) - - 30
Issuance of
shares and
warrants
under
Registered
Direct
Offering,
net of
expenses 7,961,540 11,349 - - 3,179 - - 14,528
Share
purchase
under
Employee
Share
Purchase
Plan 83,572 94 - - (45) - - 49
Share-based
compensation
and expenses
settled with
equity - - - - 9,715 - - 9,715
Net loss for
the period - - - - - - (40,322) (40,322)
----------- ------- -------- ------- ------- ------- ---- -------- -------
September 30,
2023 305,129,856 $434,099 $ - $ - 124,168 $ (1,216) $(515,443) $ 41,608
------------- ----------- ------- -------- ------- ------- ------- --- -------- -------
TMC the metals company Inc.
Condensed Consolidated Statements of Cash Flows
(in thousands of US Dollars)
(Unaudited)
Nine months ended Nine months ended
September 30, September 30,
------------------- ---------------------
2024 2023
------------------- ---------------------
Cash provided by (used in)
Operating activities
Loss for the period $ (65,882) $ (40,322)
Items not affecting cash:
Amortization 280 262
Lease Expense 1,430 318
Accrued interest on credit
facilities 150 -
Share-based compensation and
expenses settled with
equity 19,129 9,715
Equity-accounted investment
loss 197 475
Change in fair value of
warrants liability (1,103) 1,214
Unrealized foreign exchange (334) (24)
Changes in working capital:
Receivables and prepayments $(580.SI)$ (2,393)
Accounts payable and accrued
liabilities 17,036 (13,633)
-------------- --------------
Net cash used in operating
activities (29,677) (44,388)
Investing activities
Acquisition of equipment and
software (465) (175)
Net cash used in investing
activities (465) (175)
Financing activities
Proceeds from registered direct
offering 9,000 15,723
Expenses paid for registered
direct offering (142) (779)
Proceeds from Shares issued from
ATM 4,866 -
Proceeds from Drawdown of Credit
Facilities 4,175 -
Proceeds from Drawdown of Loan
with Allseas Affiliate 2,000 -
Repayment of Loan with Allseas
Affiliate (2,000) -
Proceeds from Drawdown of Loan
with Allseas 5,000 -
Interest paid on amounts drawn
from credit facilities (73) -
Proceeds from Low Carbon
Royalties Investment - 5,000
Proceeds from employee stock
plans 24 49
Proceeds from exercise of stock
options 463 77
Proceeds from exercise of
warrants by Allseas - 116
Proceeds from issuance of shares - 30
Net cash provided by financing
activities 23,313 20,216
Decrease in cash $ (6,829) $ (24,347)
Impact of exchange rate changes
on cash 347 24
Cash - beginning of period 6,842 46,876
-------------------------------- -------------- --------------
Cash - end of period $ 360 $ 22,553
-------------------------------- -------------- ------
(MORE TO FOLLOW) Dow Jones Newswires
November 14, 2024 16:55 ET (21:55 GMT)
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