Company: DSNY
Filing Date: 2025-01-14
Form Type: 10-Q
Source: 0001062993-25-000745
Chunk: 13

Company: DESTINY MEDIA TECHNOLOGIES INC
Filing Date: 2025-01-14
Form: 10-Q
Item: Part I, Item 2
Chunk 13
---
, 2024, we had working capital of $1,975,296 compared to $1,842,071 as at August 31, 2024. The decrease in our working capital was primarily due to operating results.Cash FlowsThe following table sets forth a summary of the net cash flow activity for each of the periods indicated:   Three Months Ended November 30,       Net cash and cash equivalents provided by (used in)  2024  2023  $ Change  % Change Operating activities $217,619 $188,769  28,850  15.3% Investing activities  (96,980) (177,402) 80,422) 5.3% Financing activities  -  (170,778) 170,778  (100.0%) Effect of foreign exchange rate changes on cash  (75,460) (10,993) (64,467) 584.4% Net increase (decrease) in cash and cash equivalents $(45,179)$(170,404) (215,583) 126.5% Operating Activities Net cash provided by operating activities during the three months ended November 30, 2024 was $217,619 (November 30, 2023 -$188,769). The primary reason for the increase in cash flows from operating activities is related to the timing of receipts from our customers and the timing of payments to our vendors.17Investing Activities Net cash used in investing activities for the three months ended November 30, 2024 was $96,980, compared to cash used by investing activities of $177,402 for the three months ended November 30, 2023. The period-over-period decrease was mainly driven by the lower proportion of software development salaries and wages capitalized in the current period.Financing Activities Net cash used in financing activities during the three months ended November 30, 2024 was $0 (November 30, 2023 - $170,778. Related to nil (November 30, 2023 - 172,000 shares of common stock were repurchased) of the Company under the Normal Course Issuer Bid ("NCIB").CRITICAL ACCOUNTING POLICIES AND SIGNIFICANT JUDGEMENTS AND ESTIMATESOur management's discussion and analysis of our financial condition and results of operations is based on