Company: DSNY
Filing Date: 2025-04-14
Form Type: 10-Q
Source: 0001062993-25-007398
Chunk: 62

Company: DESTINY MEDIA TECHNOLOGIES INC
Filing Date: 2025-04-14
Form: 10-Q
Item: Part I, Item 1
Chunk 62
---
13,685) (15,461) (11,526) (10,460) (9,593)Adjusted EBITDA$(116,719) 287,470  72,273  219,910  (47,792) 332,893  124,043  172,726 

LIQUIDITY AND FINANCIAL CONDITION

As at February 28, 2025, we held $1,216,378 (August 31, 2024 - $1,481,582) in cash and cash equivalents. The Company's cash equivalents consist of investments in mutual funds with a major Canadian financial institution that earn interest at variable interest rates.

At February 28, 2025, we had working capital of $1,687,699 compared to $1,842,071 as at August 31, 2024. The decrease in our working capital was primarily due to operating results.

Cash Flows

The following table sets forth a summary of the net cash flow activity for the periods indicated:

  Six Months Ended       Net cash and cash equivalents provided by (used in) February 28,2025  February 29,2024  $ Change  % Change Operating activities$47,646 $132,797  (85,152)  (64.1%) Investing activities (223,440) (281,563) 58,123   (20.6%) Financing activity -  (306,680) 306,680   (100.0%) Effect of foreign exchange rate changes on cash (89,410) (7,638)  (81,772) 1070.6% Net decrease in cash and cash equivalents$(265,204)$(463,084)  197,880   (42.7%) 

19

Operating Activities 

Net cash provided by operating activities during the six months ended February 28, 2025 was $47,646 (February 29, 2024 – $132,797). The primary reason for the decrease in cash flows from operating activities is related to the timing of receipts of refundable taxes.

Investing Activities 

Net cash used in investing activities for the six months ended February 28, 2025 was $223,440, compared to cash used in investing activities of $281,