INTERIM UNAUDITED CONSOLIDATED CONDENSED BALANCE SHEETS
(in thousands of Canadian dollars)
As at
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May 31 August 31
2009 2008
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ASSETS
Total current assets $ 41,912 $ 6,057
Long-term receivable 30,000 -
Restricted cash 502 490
Property and equipment 2,054 7,503
Deferred charges - 63
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$ 74,468 $ 14,113
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LIABILITIES AND SHAREHOLDERS' EQUITY/DEFICIT
Total current liabilities $ 36,917 $ 19,486
Liability component of convertible debentures 919 903
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Total liabilities 37,836 20,389
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Non controlling interest 21,083 422
Shareholders' equity/deficit
Share capital 58,139 58,139
Contributed surplus 3,335 2,643
Deficit (45,925) (67,480)
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Total shareholders' equity/deficit 15,549 (6,698)
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$ 74,468 $ 14,113
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UNIQUE BROADBAND SYSTEMS, INC.
INTERIM UNAUDITED CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS AND
DEFICIT
(in thousands of Canadian dollars, except per share amounts)
Three and nine months ended May 31, 2009 and 2008
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Three months ended Nine months ended
May 31 May 31
2009 2008 2009 2008
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Service and sales revenue $ 3,096 $ 4,095 $ 10,011 $ 12,979
Carrier charges and cost
of sales 2,470 2,280 6,224 6,995
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Gross margin 626 1,815 3,787 5,984
Operating expenses 6,948 4,422 16,698 14,125
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(6,322) (2,607) (12,911) (8,141)
Accretion on liability
component of convertible
debentures (29) (39) (87) (117)
Net interest income (expense) (50) (32) (87) 42
Gain on settlement of Microcell
et al. litigation 4,000 - 4,000 -
Gain on disposition of
spectrum and broadcast
licence 78,243 - 78,243 -
Loss on settlement of
Bell litigation (5,817) - (5,817) -
Gain on disposal of
capital assets - 2 2 10
Restructuring charges (25,718) - (25,718) -
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Income/(loss) from
continuing operations before
non-controlling interest 44,307 (2,676) 37,625 (8,206)
Non-controlling interest
in continuing operations (20,666) 193 (20,601) 2,572
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Income/(loss) from
continuing operations 23,641 (2,483) 17,024 (5,634)
Income from discontinued
operations before
non-controlling interest - 546 4,531 1,688
Non-controlling interest
in discontinued operations - (42) - (602)
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Income from discontinued
operations - 504 4,531 1,086
Income (loss) and
comprehensive loss for
the period 23,641 (1,979) 21,555 (4,548)
Deficit, beginning of period (69,566) (62,453) (67,480) (59,884)
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Deficit, end of period $ (45,925) $ (64,432) $ (45,925) $ (64,432)
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Income (loss) per share
from continuing operations:
Basic $ 0.23 $ (0.02) $ 0.17 $ (0.05)
Diluted $ 0.22 $ (0.02) $ 0.16 $ (0.05)
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Income per share from
discontinued operations:
Basic $ 0.00 $ 0.00 $ 0.04 $ 0.01
Diluted $ 0.00 $ 0.00 $ 0.04 $ 0.01
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Income (loss) and
comprehensive loss per share:
Basic $ 0.23 $ (0.02) $ 0.21 $ (0.04)
Diluted $ 0.22 $ (0.02) $ 0.20 $ (0.04)
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Weighted average number
of shares outstanding:
Basic (in thousands) 102,748 102,748 102,748 102,748
Diluted (in thousands) 108,172 102,748 104,556 102,748
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UNIQUE BROADBAND SYSTEMS, INC.
INTERIM UNAUDITED CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
(in thousands of Canadian dollars)
Three and nine months ended May 31, 2009 and 2008
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Three months ended Nine months ended
May 31 May 31
2009 2008 2009 2008
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OPERATING ACTIVITIES
Income (loss) from
continuing operations $ 23,641 $ (2,483) $ 17,024 $ (5,634)
Items not affecting cash (47,862) 1,253 (45,545) 1,891
Changes in non-cash
working capital 18,214 266 18,314 77
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Cash flows used in
continuing operations (6,007) (964) (10,207) (3,666)
Cash flows from (used in)
discontinued operations 12 555 507 (33)
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Cash flows used in operating
activities (5,995) (409) (9,700) (3,699)
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Cash flows from (used in)
financing activities - - 1 (14)
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Cash flows from (used in)
financing activities 22,463 (34) 25,872 (59)
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Increase (decrease) in cash
and cash equivalents 16,468 (443) 16,173 (3,772)
Cash and cash equivalents,
beginning of period 4,873 6,321 5,168 9,650
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Cash and cash equivalents,
end of period $ 21,341 $ 5,878 $ 21,341 $ 5,878
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