META MATERIALS INC. Cashflow Statement

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Financial Statements

Income Statement Balance Sheet Cashflow Statement

Consolidated Statements of Cash Flows

In millions of USD, except per-share amounts

	FY2023 12 months to Dec 31, 2023	FY2022 12 months to Dec 31, 2022	FY2021 12 months to Dec 31, 2021	FY2020 12 months to Dec 31, 2020	FY2019 12 months to Dec 31, 2019
Net loss
Cash flows from operating activities:
Net loss
Adjustments to reconcile net loss to net cash used in operating activities:
Non-cash finance expense (income)
Non-cash interest expense
Non-cash interest income
Non- cash lease expense
Non-cash goodwill impairment
Deferred income tax
Depreciation and amortization
Depreciation and amortization expense
Net settlement offset
Inventory write off
Credit loss expense
Amortization of debt issuance costs
Accretion of note discounts
Amortization of beneficial conversion on convertible notes
Debt conversion expense
Impairment of long-lived assets
Unrealized foreign currency exchange loss
Loss on financial instruments, net
Unrealized foreign currency exchange (gain) loss
Gain on deconsolidation of wholly-owned subsidiary
Change in deferred revenue
Non-cash government assistance
Gain on sale of property, plant and equipment
Loss on debt settlement
Loss on sale of oil and gas property
Impairment loss

Accounts receivable
Accounts receivable, related party
Production revenue receivable
Prepayments - development costs
Other assets
Prepaid expenses
Accounts payable and accrued expenses
Related party payables
Accrued interest payable
Other income
Gain on sale of Next Bridge Notes Receivable
Stock-based compensation expense and other non-cash personnel expense (recovery)
Stock issued for interest payments on notes payable
Accrued interest payable in stock
Stock-based compensation and other non-cash personnel expense (recovery)
Non-cash consulting expense
Changes in operating assets and liabilities
Net cash used in operating activities

Cash flows from investing activities:
Investment in oil and gas properties
Convertible note receivable
Proceeds from sale of oil and gas property
Purchase of property, plant, and equipment
Purchases of intangible assets
Purchases of property, plant and equipment
Proceeds from sale of property, plant and equipment
Proceeds from (Purchases of) short-term investments
Proceeds from short-term investments
Proceeds from below-market capital government loan
Purchase of short-term investments
Proceeds from collection of Next Bridge Notes Receivable
Acquisition of business, net of cash acquired
Proceeds from sale of Next Bridge Notes Receivable
Loan advance pursuant to deconsolidation
Proceeds from reverse takeover
Net cash used in investing activities

Cash flows from financing activities
Issuance of common stock
Issuance of common stock, net of offering costs
Proceeds from stock subscription receivable
Proceeds from long-term debt
Proceeds from the issuance of common stock and warrants
Stock issuance costs paid on the issuance of common stock and warrants
Repayments of long-term debt
Proceeds from secured promissory notes
Proceeds from convertible promissory notes
Repayment of promissory notes
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Proceeds from exercise of warrants into common stock
Proceeds from government grants
Proceeds from unsecured promissory notes
Proceeds from secured convertible debentures
Proceeds from unsecured convertible debentures
Proceeds on funding obligation
Proceeds from issuance of common stock and warrants, net
Proceeds from stock option exercises
Proceeds from stock option and warrants exercises
Repurchases of common stock for income tax withheld upon settlement of restricted stock units
Proceeds from warrant exercises
Net cash provided by financing activities
Net increase (decrease) in cash
Cash - beginning of period
Cash - end of period
Cash - beginning of year
Cash - end of year

Net decrease in cash, cash equivalents and restricted cash
Cash, cash equivalents and restricted cash at beginning of the year
Effects of exchange rate changes on cash, cash equivalents and restricted cash
Cash, cash equivalents and restricted cash at end of the year
Supplemental cash flow information
Common stock issued for oil and gas lease extension
Common stock issued for partial payment of unpaid compensation
Common stock issued for payment in kind on notes payable
Common stock issued in conversion of convertible note principal
Subscription receivable for sale of common stock
Accrued purchases of property, equipment, and patents
Right-of-use assets obtained in exchange for lease liabilities
Right-of-use assets and prepaid expenses recognized in exchange for common stock
Settlement of liabilities in common stock
Beneficial conversion feature on convertible debt
Debt discount from fair value of warrants with convertible notes
Note receivable from third party
Account payable relieved in transfer of oil and gas properties
Interest paid on debt
Cash paid for state franchise tax

Debt converted by transfer of working interest
Common stock issued for prepayment of development costs
Common stock issued for oil and gas lease extension
Common stock issued for payment in kind on notes payable
Common stock issued for note principal and interest conversion
Common stock issued for note extension
Increase (decrease) in accounts payable for property development costs
Subscription receivable for sale of common stock
Common stock issuance costs in accrued liabilities or accounts payable
Deemed dividends on warrants upon trigger of downround feature
Non-cash issuance costs as a result of amendment of June 2022 warrants

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