曝光台 注意防骗
网曝天猫店富美金盛家居专营店坑蒙拐骗欺诈消费者
129,668 127,233
The fair value of each option granted was estimated using the Black-Scholes option pricing model. On the date of the grant, the options weighted
average fair value was $0.11 per option ($0.14 in 2008). The following weighted average assumptions were used for the calculation:
43
CLEMEX TECHNOLOGIES INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
APRIL 30, 2009 AND 2008
18. RESEARCH AND DEVELOPMENT COSTS 2009 2008
$ $
Research and Development expenses 748,303 841,059
Refundable provincial tax credit for research and development ( 258,020 ) ( 273,394 )
Federal tax credit for Research and Development
recognized in the year ( note 5) ( 90,000 ) ( 95,000 )
400,283 472,665
19. COMMITMENTS
20. FINANCIAL INSTRUMENTS
The Company has signed long-term lease agreements for a total of $593,930 as at April 30, 2009. Annual payments under the terms of these
leases are approximately as follows: 2010, $156,229; 2011, $148,351; 2012, $143,712; 2013, $134,435; 2014, $11,203.
Risk Management Objectives and Policies
CREDIT RISK
LIQUIDITY RISK
The Company is exposed to various financial risks arising from its operations and financing. Financial risks are managed by the Company's
directors. There was no significant change in the Company's risk exposure, nor its objectives, policies and procedures for risk management in prior
periods.
The main risks to which the Company is subject and its management methods are as follows:
Liquidity risk is the risk that the Company cannot meet its contractual obligations when they become due. Liquidity risk management serves to
maintain a sufficient amount of cash and cash equivalents and to ensure that the Company has financing sources such as bank loans for a sufficient
authorized amount. The Company establishes budget and cash estimates to ensure it has the necessary funds to fulfill its obligations.
Credit risk arises from the possibility that a loss occurs because of failure of a third party to fulfill its obligations under the contract. In general, the
amount recognized in the Company's consolidated balance sheet, net of provisions for losses, represents the maximum amount that is exposed to
credit risk.
The Company provides credit to its customers in the normal course of its business. The Company performs, on an ongoing basis, a credit history of
its customers and maintains provisions for potential losses on receivables. The Company generally does not require bonds or guarantees. Finally,
the Company ensures some sales transactions deemed as more risky to third parties.
The Company may also be exposed to credit risk from its cash, which is managed by only dealing with reputable financial institutions.
As at April 30, 2009, the maximum exposure to credit risk is $986,897 ($935,434 in 2008), which represents the carrying amount of financial
instruments classified as assets.
44
CLEMEX TECHNOLOGIES INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
APRIL 30, 2009 AND 2008
20. FINANCIAL INSTRUMENTS (Continued)
Total 1 - 2 years 3 - 4 years
$ $ $ $
125,000 125,000 - -
131,189 131,189 - -
532,726 532,726 - -
200,000 - 200,000 -
196,884 43,752 87,504 65,628
125,530 51,384 74,146 -
1,311,329 884,051 361,650 65,628
(a) The amount is equivalent to the nominal value of the convertible debenture payable upon maturity.
MARKET RISK
The following table presents the financial liability instalments payables when contractually due, excluding future interest payments but including
Bank indebtedness
Demand loan
Accounts payable
Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate due to changes in market prices. The principal
market risks to which the Company is exposed include currency risk and interest rate risk.
Total
Less than 1 year
Liability component of the
convertible debenture (a)
Obligations under capital leases
Term loans
i ) CURRENCY RISK
2009 2008
US dollars
Cash 47,101 35,171
Accounts receivable 497,931 709,012
Accounts payable 97,375 175,161
Euros
Accounts receivable 128,019 26,670
Accounts payable 12,820 18,176
Yens
Accounts payable 3,577,000 90,000
Pounds Sterling
Accounts receivable - 4,171
Effect in canadian
Currency dollars $
US dollars 53,450
Euros 18,905
Yens ( 4,760 )
Total 67,595
The Company carries out approximately 86% (2008: 76%) of its sales in foreign currency. The Company also carried out 62% (2008: 46%) of its
purchases in foreign currencies. Consequently, some assets and liabilities are exposed to foreign exchange fluctuations. As at April 30, 2009 and
中国航空网 www.aero.cn
航空翻译 www.aviation.cn
本文链接地址：
航空资料25(141)
