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Toronto, Canada
March 11, 2014
F-3
Tucows Inc.
Consolidated Balance Sheets
(Dollar amounts in U.S. dollars)
December 31,
2013
December 31,
2012
Assets
Current assets:
Cash and cash equivalents
$
12,418,888
$
6,415,679
Accounts receivable, net of allowance for doubtful accounts of $91,226 as of December
31, 2013 and $73,970 as of December 31, 2012
5,305,403
4,413,265
Inventory
309,686
587,104
Prepaid expenses and deposits
4,309,039
5,081,408
Derivative instrument asset, current portion (note 4)
-
412,944
Prepaid domain name registry and ancillary services fees, current portion
44,209,591
45,170,167
Deferred tax asset, current portion (note 10)
1,081,526
-
Income taxes recoverable
475,889
1,730,631
Total current assets
68,110,022
63,811,198
Derivative instrument asset, long-term portion (note 4)
-
31,838
Prepaid domain name registry and ancillary services fees, long-term portion
11,838,579
12,318,723
Property and equipment (note 5)
1,757,836
1,352,144
Deferred tax asset, long-term portion (note 10)
5,370,037
5,970,462
Intangible assets (note 6)
15,403,228
16,415,651
Goodwill (note 3)
18,873,127
18,873,127
Total assets
$
121,352,829
$
118,773,143
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable
$
2,361,481
$
1,928,459
Accrued liabilities
3,913,034
2,522,229
Customer deposits
4,500,946
4,955,671
Derivative instrument liability, current portion (note 4)
491,098
-
Loan payable (note 7)
6,300,000
3,700,000
Deferred revenue, current portion
54,379,719
54,997,887
Accreditation fees payable, current portion
473,811
512,847
Deferred tax liability, current portion (note 10)
-
914,429
Income taxes payable (note10)
1,024,004
1,255,108
Total current liabilities
73,444,093
70,786,630
Deferred revenue, long-term portion
15,638,517
16,002,464
Accreditation fees payable, long-term portion
135,522
145,592
Deferred rent, long-term portion
75,979
54,150
Deferred tax liability, long-term portion (note 10)
5,141,500
5,234,100
Stockholders' equity (note 8)
Preferred stock - no par value, 1,250,000 shares authorized; none issued and
outstanding
-
-
Common stock - no par value, 250,000,000 shares authorized;10,907,063 shares issued
and outstanding as of December 31, 2013 and 11,080,540 shares issued and outstanding
11,859,267
10,084,417