Company: MMTIF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001062993-25-003888
Chunk: 28

Company: MICROMEM TECHNOLOGIES INC
Filing Date: 2025-02-28
Form: 20-F
Item: Item 5
Chunk 28
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31, 2024          (6,100,773         28,393           144,827         (6,001,984  
  October 31, 2023          (4,818,699         32,767           168,350         (4,841,204  
  July 31, 2023             (6,148,332         36,331           240,608         (6,174,904  
  April 30, 2023            (6,847,503         39,466           309,695         (6,873,535  
  January 31, 2023          (4,786,678         43,779           105,556         (4,813,784  

B. Liquidity and Capital Resources:

Liquidity

We have not yet realized commercial revenues from the exploitation of our technology platforms. We currently do not have positive cash flow from operations and will not realize positive cash flow until we license or directly produce and sell products utilizing our technology platforms.

We currently have no lines of credit available. We have relied on obtaining equity financing from investors through private placements, through the exercise of common stock options by officers and directors, and through bridge loans that the Company has secured in order to meet our cash flow needs until we can generate sustainable revenues. At October 31, 2024, we had a working capital deficiency of $6,693,448 (2023: $4,818,699) including cash on hand of $125,705 (2023: $31,584). Since October 31, 2024, we have raised an additional $57,500 of bridge loan financing and $285,125 of financing from private placements. We have granted to our directors, officers, other employees and consultants a number of options to purchase shares at prices that are at or above market price on the date of grant. None of the optionees have any obligation to exercise their options and there can be no guarantee that we will realize any funds from the exercise of these options.

In 2025, we plan to continue to raise financing as required and we anticipate that we may report initial revenues from our development partners. In our opinion, despite the current working capital deficiency, in consideration of the future financing endeavours, business plan and existing cash resources, we expect the Company to have sufficient financial resources to fund the Company's planned operations through fiscal 2025.

We incurred $nil capital expenditures