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-26806000
-43898000
-68762000
20026000
5702000
75045000
7045000
-90784000
-22022000
-17092000
-19729000
-22022000
1320000
1067000
1343000
1320000
311000
148000
341000
250000
-93000
-102000
451000
-140000
248000
3025000
814000
814000
3157000
-132000
973000
973000
50000
147000
147000
50000
3287000
3145000
498000
538000
P3Y
50000000
The term loan bears interest at a variable rate of LIBOR plus 8.00% (with a LIBOR floor of 1.50%)
The facility bears interest at a variable rate of LIBOR plus 12.50% (with a LIBOR floor of 2.00%) up to the first $40 million of borrowing, a decrease from the variable rate of LIBOR plus 13.00% (with a LIBOR floor of 2.00%) under the previous Credit Facility - ST. The incremental portion of facility borrowings above $40 million bears interest at a variable rate of LIBOR plus 11.00% (with a LIBOR floor of 2.00%).
40000000
30000000
15000000
0.020
0.015
November 2021 to November 2026.
Five year warrants
January 2021 to September 2025.
1779453000
111000
74000
233000
67000
250000
182000
-90784000
-68762000
-63627000
86347000
61875000
68325000
73460000
84181000
960000
1206000
273000
-273000
86000
-86000
-38000
-38000
<p style="margin: 0pt"></p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" id="hdcell" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt"><b>Warrants Outstanding (000s)</b></font></td>
<td style="text-align: right"> </td>
<td style="text-align: right"> </td>
<td colspan="2" style="border-bottom: black 1pt solid">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><b>Weighted Average Grant Date Fair </b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Value $</b></p></td>
<td style="text-align: right"> </td>
<td style="text-align: right"> </td>
<td colspan="2" style="border-bottom: black 1pt solid">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><b>Weighted Average Exercise </b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Price $</b></p></td>
<td style="text-align: right"> </td>
<td style="text-align: right"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt"><b>Warrants Exercisable (000s)</b></font></td>
<td style="text-align: right"> </td>
<td style="text-align: right"> </td>
<td colspan="2" style="border-bottom: black 1pt solid">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><b>Weighted Average Exercise </b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Price $</b></p></td>
<td style="text-align: right"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt"><b>As at December 31, 2015</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td id="ffcell" style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>182</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td colspan="2" style="vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>4.89</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>182</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>4.89</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt"><b>Warrants granted</b></font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">1,696</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">1.23</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">2.69</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; width: 9%; text-align: right"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; width: 9%; text-align: right"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt"><b>As at December 31, 2016</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>1,878</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>2.90</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>881</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>2.84</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Warrants expired</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(99</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">0.90</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">7.35</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt"><b>As at December 31, 2017</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>1,779</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>2.66</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>783</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>2.28</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt"><b>As at December 31, 2018</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>1,779</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>2.66</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>982</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>2.42</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
</table>
<p style="margin: 0pt"></p>
<p style="margin: 0pt"></p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" id="hdcell" style="border-bottom: black 1pt solid">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><b>Options </b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><b>Outstanding </b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><b>(000s)</b></p></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" style="border-bottom: black 1pt solid">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><b>Weighted </b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><b>Average </b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><b>Grant Date </b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><b>Fair Value $</b></p></td>
<td style="text-align: right"> </td>
<td style="text-align: right"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt"><b>Weighted</b></font><br />
<font style="font-size: 10pt"><b>Average</b></font><br />
<font style="font-size: 10pt"><b>Exercise</b></font><br />
<font style="font-size: 10pt"><b>Price $</b></font></td>
<td style="text-align: right"> </td>
<td style="text-align: right"> </td>
<td colspan="2" style="border-bottom: black 1pt solid">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><b>Options </b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><b>Exercisable </b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><b>(000s)</b></p></td>
<td style="text-align: right"> </td>
<td style="text-align: right"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt"><b>Weighted</b></font><br />
<font style="font-size: 10pt"><b>Average</b></font><br />
<font style="font-size: 10pt"><b>Exercise</b></font><br />
<font style="font-size: 10pt"><b>Price $</b></font></td>
<td style="text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt"><b>As at December 31, 2015</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td id="ffcell" style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>1,506</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td colspan="2" style="vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>5.17</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>567</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>2.44</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Options granted</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">1,127</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">0.63</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">1.89</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Exercised</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(118</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">2.10</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Forfeited</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(213</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">3.56</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt"><b>As at December 31, 2016</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>2,302</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>3.50</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>767</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>4.01</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Options granted</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">984</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1.87</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">4.60</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Exercised</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(62</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">2.39</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Forfeited</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(125</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">5.67</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt"><b>As at December 31, 2017</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>3,099</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>3.80</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>1,529</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>3.85</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Options granted</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">468</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1.26</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">4.13</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Exercised</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(156</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1.99</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Forfeited</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(303</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">4.38</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; border-bottom: black 1pt solid; text-align: justify"><font style="font-size: 10pt"><b>As at December 31, 2018</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>3,108</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>3.88</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>1,965</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>3.80</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td></tr>
</table>
<p style="margin: 0pt"></p>
<p style="margin: 0pt"></p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" id="hdcell" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt"><b>2018</b></font></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt"><b>2017</b></font></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt"><b>2016</b></font></td>
<td style="text-align: justify"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="text-align: justify"><font style="font-size: 10pt">Risk-free interest rate</font></td>
<td style="text-align: justify"> </td>
<td colspan="2" style="text-align: right; text-indent: 6.85pt"><font style="font-size: 10pt">1.88 - 2.49</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">%</font></td>
<td style="text-align: justify"> </td>
<td colspan="2" style="text-align: right; text-indent: 6.85pt"><font style="font-size: 10pt">0.64 - 2.10</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">%</font></td>
<td style="text-align: justify"> </td>
<td colspan="2" style="text-align: right; text-indent: 6.85pt"><font style="font-size: 10pt">0.64 - 1.58</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">%</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td style="text-align: justify"><font style="font-size: 10pt">Expected life</font></td>
<td style="text-align: justify"> </td>
<td colspan="2" style="text-align: right; text-indent: 6.85pt"><font style="font-size: 10pt">2-8 years</font></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" style="text-align: right; text-indent: 6.85pt"><font style="font-size: 10pt">2-10 years</font></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" style="text-align: right; text-indent: 6.85pt"><font style="font-size: 10pt">2-10 years</font></td>
<td style="text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Expected volatility in market price of shares</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td id="ffcell" style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">50</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">%</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td colspan="2" style="text-align: right; text-indent: 6.85pt"><font style="font-size: 10pt">50 - 55</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">%</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td colspan="2" style="text-align: right; text-indent: 6.85pt"><font style="font-size: 10pt">50 - 55</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">%</font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Expected dividend yield</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">0</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font-size: 10pt">%</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">0</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font-size: 10pt">%</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">0</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font-size: 10pt">%</font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; border-bottom: black 1pt solid; text-align: justify"><font style="font-size: 10pt">Expected forfeiture rate</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">0</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font-size: 10pt">%</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">0</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font-size: 10pt">%</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">0</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font-size: 10pt">%</font></td></tr>
</table>
<p style="margin: 0pt"></p>
<p style="margin: 0pt"></p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" id="hdcell" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt"><b>2018</b></font></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt"><b>2017</b></font></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt"><b>2016</b></font></td>
<td style="text-align: justify"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="text-align: justify"><font style="font-size: 10pt">Risk-free interest rate</font></td>
<td style="text-align: justify"> </td>
<td colspan="2" style="text-align: right"><font style="font-size: 10pt">2.07 – 2.47</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">%</font></td>
<td style="text-align: justify"> </td>
<td colspan="2" style="text-align: right"><font style="font-size: 10pt">1.08 – 1.90</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">%</font></td>
<td style="text-align: justify"> </td>
<td colspan="2" style="text-align: right"><font style="font-size: 10pt">0.53 – 1.35</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">%</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td style="text-align: justify"><font style="font-size: 10pt">Expected life</font></td>
<td style="text-align: justify"> </td>
<td colspan="2" style="text-align: right"><font style="font-size: 10pt">5 years</font></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" style="text-align: right"><font style="font-size: 10pt">5 years</font></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" style="text-align: right"><font style="font-size: 10pt">5 years</font></td>
<td style="text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Expected volatility in market price of shares</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td id="ffcell" style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">50</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">%</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">50</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">%</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td colspan="2" style="text-align: right"><font style="font-size: 10pt">40-50</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">% </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Expected dividend yield</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">0</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font-size: 10pt">%</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">0</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font-size: 10pt">%</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">0</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font-size: 10pt">%</font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; border-bottom: black 1pt solid; text-align: justify"><font style="font-size: 10pt">Expected forfeiture rate</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">15</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font-size: 10pt">%</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">15</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font-size: 10pt">%</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">15</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font-size: 10pt">%</font></td></tr>
</table>
<p style="margin: 0pt"></p>
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39680000
2697000
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24397000
24397000
3750000
142000
766000
118000
62000
156000
41000
30000
the Company estimates that it will recognize a lease liability and right to use asset of approximately $6.0 million to $7.5 million as at January 1, 2019.
-3530000
-3688000
-176000
334000
5354000
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50000000
200000000
The prescribed minimum balance was $44 million. The prescribed minimum balance is reset to $33 million in the first quarter of 2019, and will rise incrementally up to $44 million by the maturity date.
40000000
50000000
Consistent with the previous facility, there is a 0.33% fee on the available but undrawn portion of the $50 million facility.
The Debentures are governed by the terms of a trust deed and, among other things, are subject to a subordination agreement which effectively extends the earliest maturity date of such debentures to July 2, 2020, the maturity date of the Credit Facility – Other.
Principal and interest are payable in cash or, at the Company's option, subject to regulatory approval and provided no events of default have occurred, in common shares of the Company issued at a price equal to the volume weighted average trading price ("VWAP") of the common shares for the 20 trading days ending on the fifth day prior to the maturity date or the date on which the Interest payment is due, as applicable.
The convertible debentures are convertible, at the option of the holder, in whole or in part, into common shares of the Company at any time before the maturity date at a price of $5.00 per common share (the "Conversion Price").
The Company may at any time that the 20-day VWAP of the common shares exceeds 115% of the Conversion Price, subject to regulatory approval and provided no events of default have occurred, convert the convertible debentures in whole or in part, including any accrued interest, to common shares at the Conversion Price of $5.00 per common share.
1865000
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2075000
1999000
A 0.50 basis point increase in LIBOR would increase annual credit facility interest expense by $428.
A 5% increase or decrease in the U.S. dollar exchange rate would increase or decrease the unrealized exchange gain (loss) by $266.
P0Y7M17D
P1Y10M14D
P1Y3M4D
1.89
4.60
4.13
2.10
2.39
1.99
3.56
5.67
4.38
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145000
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246000
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P0Y10M25D
7.35
the Company’s shareholders approved an amendment to increase the maximum number of common shares reserved for issuance under the Plan to the greater of i) 15% of the number of common shares issued and outstanding of the Company and ii) 3,800,000.
500000000
50% of the warrants were to vest in equal instalments over three years while the remaining 50% (the “Performance Warrants”) were to vest based on Mogo achieving certain quarterly revenue targets.
In connection with this amendment, Postmedia and Mogo agreed to change the vesting and term of the 598,060 Performance Warrants so that i) they vest equally over the remaining two years of the collaboration (50% in January 2020 and 50% in January 2021); and ii) their term is extended an additional two years, now expiring January 2023.
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false
No
No
<p style="margin: 0pt; text-align: justify"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Mogo
Finance Technology Inc. (“Mogo” or the "Company") was incorporated under the <i>Business Corporations Act
</i>(British Columbia) on August 26, 2003. The address of the Company's registered office is Suite 1700, Park Place, 666 Burrard
Street, Vancouver, British Columbia, Canada, V6C 2X8. The Company’s common shares are listed on the Toronto Stock Exchange
and the NASDAQ Stock Market under the symbol “MOGO”.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Mogo —
a financial technology company — is a digital challenger to the banks in Canada, empowering consumers with simple solutions
to help them manage and control their finances. Users can sign up for a free MogoAccount in only three minutes and get access
to six products including free credit score monitoring, identity fraud protection (“MogoProtect”), digital spending
account with Mogo Visa* Platinum Prepaid Card (“MogoCard”), digital mortgage experience (“MogoMortgage”),
the MogoCrypto account (“MogoCrypto”), the first product within MogoWealth, which enables the buying and selling of
bitcoin, and access to smart consumer credit products (“MogoMoney”). The platform has been engineered to deliver a
best-in-class digital experience, with best-in-class financial products all through one account.</font></p>
<p style="margin: 0pt; text-align: justify"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Statement
of compliance </b></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">These
consolidated financial statements have been prepared in accordance with International Financial Reporting Standards ("IFRS")
as issued by the International Accounting Standards Board ("IASB"). The policies applied in these consolidated financial
statements were based on IFRS issued and outstanding at December 31, 2018.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">  </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The
Company presents its consolidated statements of financial position on a non-classified basis in order of liquidity. Certain revenue
and expense captions in the consolidated statements of comprehensive loss were renamed and/or reallocated during the year, to
provide greater clarity and a broader description that appropriately captures new revenue streams or to reflect a more appropriate
classification by function.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">These
consolidated financial statements for the years ended December 31, 2018, 2017 and 2016 were authorized for issue by the Company’s
Board of Directors (the “Board”) on April 29, 2019.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">These
financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the payment
of liabilities in the ordinary course of business. Should the Company be unable to continue as a going concern, it may be unable
to realize the carrying value of its assets and to meet its liabilities as they become due in the normal course.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Management
routinely plans future activities including forecasting future cash flows. Management has reviewed their plan with the Board and
has collectively formed a judgment that the Company has adequate resources to continue as a going concern for the foreseeable
future, which Management and the Board have defined as being at least the next 12 months. In arriving at this judgment, Management
has considered the following: (i) cash flow projections of the Company, which incorporates a rolling forecast and detailed cash
flow modeling through the current fiscal year, (ii) global capital markets, and (iii) the base of investors and debt lenders historically
available to the Company. The expected cash flows have been modeled based on anticipated revenue and profit streams with debt
and equity funding programmed into the model.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">For
these reasons, the Company continues to adopt a going concern basis in preparing the consolidated financial statements.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Functional
and presentation currency</b></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">These
consolidated financial statements are presented in Canadian dollars, which is the Company's and its subsidiaries functional currency.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Basis
of consolidation </b></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The
Company has consolidated the assets, liabilities, revenues and expenses of all its subsidiaries and its structured entity. The
consolidated financial statements include the accounts of the Company, and its wholly-owned subsidiaries, Mogo Financial (Alberta)
Inc., Mogo Financial (B.C.) Inc., Mogo Financial Inc., Mogo Financial (Ontario) Inc., Mogo Mortgage Technology Inc., Hornby Loan
Brokers (Ottawa) Inc., Hornby Leasing Inc., Mogo Technology Inc. (a US subsidiary), Mogo Blockchain Technology Inc., Mogo Wealth
Technology Inc., Thurlow Management Inc., Thurlow Capital (Alberta) Inc., Thurlow Capital (B.C.) Inc., Thurlow Capital (Manitoba)
Inc., Thurlow Capital (Ontario) Inc., and Thurlow Capital (Ottawa) Inc. and its structured entity, Mogo Finance Trust (the “Trust”).
The financial statements of the subsidiaries and the Trust are prepared for the same reporting period as the Company, using consistent
accounting policies.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">All inter-company
balances, income and expenses and unrealized gains and losses resulting from inter-company transactions are eliminated in full.</font></p>
<p style="margin: 0pt"></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><b>Revenue recognition</b></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Revenue is comprised of subscription
and services, interest revenue and loan fees from our legacy short-term loan products, which were phased out in the third quarter
of 2018. The Company recognizes interest revenue, loan fees, nonsufficient funds fees, and any other fees or charges permitted
by applicable laws and pursuant to the agreement with the borrower. We record revenue on a net basis for those sales in which we
have in substance acted as an agent or broker in the transaction.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Subscription and services is comprised
of MogoProtect subscriptions, MogoCard revenue, MogoMortgage brokerage commissions, premium account revenues, loan protection premiums,
MogoCrypto revenue, Bitcoin mining revenue, and other fees and charges. Subscription and services revenue is recognized when the
underlying transactions have been completed or services are rendered and collection is reasonably assured. In 2018, the Company,
through a third-party hosting agreement, joined a Bitcoin mining pool that provides transaction verification services on the Bitcoin
network. The Company receives Bitcoin as compensation for these services, which are recognized as revenue and measured at fair
value according to the spot price at the time they were mined. Bitcoin is considered earned upon the addition of a block to the
Bitcoin blockchain at which time the economic benefit is received and can be reliably measured. Management has exercised judgement
in determining this accounting treatment for the recognition of revenue from Bitcoin mining, as there is no definitive guidance
in IFRS for the accounting of digital currency mining activities.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Interest revenue represents interest
on our long-term loan products. Our long-term loans fall into two categories: line of credit accounts and installment loans. For
line of credit accounts, interest is recognized during the period based upon the balance outstanding and the contractual interest
rate, and fees are recognized when assessed to the customer. For installment loans, revenue is recognized on an effective interest
basis over the term of the loan and fees are recognized when assessed to the customer.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">For legacy short-term loans that the
Company offered, loan fees were recognized when assessed to the customer.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Cost of revenue</b></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Cost of revenue consists of provision
for loan losses and transaction costs. Transaction costs are expenses that relate directly to the acquisition and processing of
new customers (excluding marketing) and include expenses such as credit scoring fees, loan system transaction fees, insurance commission
expense, and certain fees related to the MogoCard and MogoProtect programs.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Loans receivable </b></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Loans receivable consist of unsecured
installment loans and lines of credit. The Company phased out its legacy short-term loan products from its business in the third
quarter of 2018. Loans receivable are reported net of an allowance for loan losses. The Company maintains an allowance for loan
losses that reduces the carrying value of loans identified as impaired to their estimated realizable amounts.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Financial instruments</b></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Financial assets and liabilities are
recognized when the Company becomes a party to the contractual provisions of the instrument. Financial assets are derecognized
when the rights to receive cash flows from the assets have expired or have been transferred, and the Company has transferred substantially
all risks and rewards of ownership. Financial liabilities are derecognized when the obligation specified in the contract is discharged,
cancelled or expires.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Classification and measurement of
financial assets</b></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">At initial recognition, financial assets
are classified as measured at amortized cost, at fair value through profit or loss (“FVTPL”), or at fair value through
other comprehensive income. IFRS 9, Financial Instruments, removes the previous IAS 39 classifications of loans and receivables,
held to maturity, and available for sale.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company measures financial assets
at amortized cost if the financial asset is held within a “hold to collect” business model, and if the contractual
cash flows associated with the financial asset are solely payments of principal and interest on the principal amount outstanding.
Financial assets fall with a “hold to collect” business model when the Company’s primary objective is to collect
contractual cash flows on the assets rather than selling them.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Loans receivable are classified as amortized
cost. They are initially recognized at fair value, and subsequently measured at amortized cost using the effective interest method,
less any allowance for loan losses.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><b>Impairment of financial assets</b></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Expected credit loss model</u></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The expected credit loss (“ECL”)
model is a three-stage impairment approach used to measure the allowance for loan losses on all financial assets at each reporting
period date. Loans are classified under one of three stages based on changes in credit quality since initial recognition. Stage
1 loans consist of performing loans that have not had a significant increase in credit risk since initial recognition. Loans that
have experienced a significant increase in credit risk since initial recognition are classified as Stage 2, and loans considered
to be credit-impaired are classified as Stage 3. The Company routinely refinances its existing customers, and accordingly, does
not consider a modification to be an indicator of increased credit risk. The allowance for loan losses on both Stage 2 and Stage
3 loans is measured at lifetime ECLs. The allowance for loan losses on Stage 1 loans is measured at an amount equal to 12-month
ECLs, representing the portion of lifetime ECLs expected to result from default events possible within 12 months of the reporting
date.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Assessment of significant increase
in credit risk</u></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Significant increases in credit risk
are assessed based on changes in probability of default of a financial asset subsequent to initial recognition. The Company uses
past due information to determine whether credit risk has increased significantly since initial recognition. Financial assets are
considered to have experienced a significant increase in credit risk and are reclassified to Stage 2 if a contractual payment is
more than 30 days past due as at the reporting date.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -20pt"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company defines default as the earlier
of when a contractual loan payment is more than 90 days past due or when a loan becomes insolvent as a result of customer bankruptcy.
Loans that have experienced a default event are considered to be credit-impaired and are reclassified as Stage 3 loans.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Measurement of expected credit losses</u></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">ECLs are measured as the calculated
expected value of cash shortfalls over the remaining life of a financial instrument, using a probability-weighted approach that
reflects reasonable and supportable information about past events, current conditions and forward looking indicators such as forecasts
of future events and macroeconomic conditions. The measurement of ECLs primarily involves using this information to determine both
the expected probability of a default event occurring and expected losses resulting from such default events. Loans are grouped
according to product type, customer tenure and aging for the purpose of assessing ECLs. Scenarios and probability weights are re-assessed
quarterly and subject to management review.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Summary of IFRS 9 adoption impact</b></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has elected not to restate
comparative information for prior periods with respect to classification and measurement (including impairment) requirements. Therefore,
comparative periods have not been restated. Differences in the carrying amounts of financial assets and financial liabilities resulting
from the adoption of IFRS 9 were recognized in retained earnings as at 1 January 2018. Accordingly, the information presented for
2017 does not generally reflect the requirements of IFRS 9, but rather those of IAS 39.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table summarizes the classifications
and carrying amounts of the Company’s financial instruments as previously established under IAS 39 as at December 31, 2017,
and the new IFRS 9 classifications and carrying amounts established as at January 1, 2018.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b> </b></p>
<table cellspacing="0" cellpadding="0" style="border-top: black 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: justify; line-height: 107%"> </td>
<td style="text-align: justify; line-height: 107%"> </td>
<td style="border-bottom: black 1pt solid">
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: right"><b>Original classification </b></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: right"><b>under IAS 39</b></p></td>
<td style="text-align: justify; line-height: 107%"> </td>
<td style="border-bottom: black 1pt solid">
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: right"><b>New classification </b></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: right"><b>under IFRS 9</b></p></td>
<td style="text-align: justify; line-height: 107%"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>Original carrying amount, IAS 39</b></font></td>
<td style="text-align: justify; line-height: 107%"> </td>
<td style="text-align: justify; line-height: 107%"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>New carrying amount, IFRS 9</b></font></td>
<td style="text-align: justify; line-height: 107%"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Cash</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"> </td>
<td style="width: 18%; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Loans and receivables</font></td>
<td style="vertical-align: bottom; width: 2%; text-align: justify; line-height: 107%"> </td>
<td style="width: 14%; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Amortized cost</font></td>
<td style="vertical-align: bottom; width: 2%; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">40,560</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">40,560</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Loans receivable, net</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Loans and receivables</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Amortized cost</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">73,460</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">68,325</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Accounts payable and accruals</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Amortized cost</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Amortized cost</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">7,468</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">7,468</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Credit facilities</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Amortized cost</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Amortized cost</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">57,110</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">57,110</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Debentures</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Amortized cost</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Amortized cost</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">39,680</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">39,680</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Convertible debentures</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Amortized cost</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Amortized cost</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">12,864</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">12,864</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Derivative financial liabilities</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">FVTPL</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">FVTPL</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">2,697</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">2,697</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"> </td></tr>
</table>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">  </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Financial assets reclassified from loans
and receivables under IAS 39 to amortized cost under IFRS 9 were previously also subject to the amortized cost measurement method
under IAS 39. The following table summarizes the transition adjustment required upon adoption of IFRS 9 as at January 1, 2018:</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%">
<tr>
<td style="border-bottom: black 1pt solid; text-align: justify; line-height: 107%"> </td>
<td style="border-bottom: black 1pt solid; text-align: justify; line-height: 107%"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: justify; line-height: 107%"> </td>
<td style="border-bottom: black 1pt solid; text-align: justify; line-height: 107%"> </td>
<td style="border-bottom: black 1pt solid; text-align: justify; line-height: 107%"> </td>
<td style="border-bottom: black 1pt solid; line-height: 107%"> </td>
<td colspan="5" style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>As at January 1, 2018</b></font></td>
<td style="border-bottom: black 1pt solid; text-align: justify; line-height: 107%"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: justify; line-height: 107%"> </td>
<td style="text-align: justify; line-height: 107%"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>Original carrying amount, IAS 39</b></font></td>
<td style="text-align: justify; line-height: 107%"> </td>
<td style="text-align: justify; line-height: 107%"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>Transition Adjustment<sup>(1)</sup></b></font></td>
<td style="text-align: justify; line-height: 107%"> </td>
<td style="text-align: justify; line-height: 107%"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>New carrying amount, IFRS 9</b></font></td>
<td style="text-align: justify; line-height: 107%"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>Gross loans receivable</b></font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">80,894</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">80,894</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>Allowance for loan losses</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">(7,434</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">(5,135</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">(12,569</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>Loans receivable, net</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>73,460</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>(5,135</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>)</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>68,325</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>Deficit</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>(63,627</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>)</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>(5,135</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>)</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>(68,762</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>)</b></font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>Loss per share</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>(1.07</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>)</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>(0.28</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>)</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>(1.35</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>)</b></font></td></tr>
</table>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b> </b></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">(1)       Re-measurement
of the allowance for loan losses relates to the application of the ECL impairment methodology effective upon transition to IFRS
9. Under IFRS 9, credit losses are recognized earlier than under IAS 39, since it replaces the “incurred loss” model
in IAS 39 with “ECL” model. This adjustment was recorded to the opening deficit as at January 1, 2018. </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -20pt"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Accounts payable and accruals, deferred
revenue, credit facilities, debentures, and convertible debentures are classified as “other financial liabilities”
and are initially recorded at fair value, net of any transaction costs incurred. Subsequently, these items are measured at amortized
cost using the effective interest method.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -20pt"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Derivative financial liabilities are
classified as “financial liabilities at fair value through profit or loss” and are initially and subsequently measured
at fair value. The subsequent changes in fair value are recorded as a gain or loss in the consolidated statements of comprehensive
loss.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -20pt"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has also adopted consequential
amendments to IFRS 7 Financial Instruments: Disclosures that are applied to disclosures about 2018 but have not been generally
applied to comparative information.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Property and equipment</b></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">All property and equipment are measured
at cost less accumulated depreciation and impairment losses. Cost includes expenditures that are directly attributable to the acquisition
of the asset. When parts of an item of property and equipment have different useful lives, they are accounted for as separate items
of property and equipment.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">All assets having limited useful lives
are depreciated using the declining balance method at rates intended to depreciate the cost of assets over their estimated useful
lives except leasehold improvements, which are depreciated over the term of lease.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The depreciation rate for each class
of asset during the current and comparative period are as follows:</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<table cellspacing="0" cellpadding="0" style="border-top: black 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: justify; line-height: 107%"> </td>
<td style="text-align: justify; line-height: 107%"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>Rate</b></font></td>
<td style="text-align: justify; line-height: 107%"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Computer equipment </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">30</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Computer equipment – Bitcoin rigs</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">75</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Furniture and fixtures </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">20</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Leasehold improvements </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"> </td>
<td style="border-bottom: black 1pt solid; line-height: 107%"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Term of lease </font></td>
<td style="border-bottom: black 1pt solid; text-align: justify; line-height: 107%"> </td></tr>
</table>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The useful lives of items of property
and equipment are reviewed periodically and the useful life is altered if estimates have changed significantly.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Intangible assets</b></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Intangible assets are stated at cost
less accumulated amortization and impairment losses. Intangible assets include both internally generated and acquired software
with finite useful lives. Internally generated software costs primarily consist of salaries and payroll-related costs for employees
directly involved in the development efforts and fees paid to outside consultants. Amortization is recorded at rates intended to
amortize the cost of the intangible assets over their estimated useful lives as follows:</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<table cellspacing="0" cellpadding="0" style="border-top: black 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%">
<tr style="background-color: #CCEEFF">
<td style="vertical-align: bottom; text-align: right; line-height: 107%"> </td>
<td style="width: 1%; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; width: 20%; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>Rate</b></font></td>
<td style="width: 1%; text-align: justify; line-height: 107%"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Software - Internally generated</font></td>
<td style="text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">5 years straight line </font></td>
<td style="text-align: justify; line-height: 107%"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Software - Acquired</font></td>
<td style="border-bottom: black 1pt solid; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">30% declining balance </font></td>
<td style="border-bottom: black 1pt solid; text-align: justify; line-height: 107%"> </td></tr>
</table>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b> </b></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Development costs, including those related
to the development of software, are recognized as an intangible asset when the Company can demonstrate:</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b> </b></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 18.75pt">        •      the
technical feasibility of completing the intangible asset so that it will be available for use or sale;</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 18.75pt">        •      its
intention to complete and its ability to use or sell the asset;</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 18.75pt">        •     how
the asset will generate future economic benefits;</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 18.75pt">        •      the
availability of resources to complete the asset; and</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 18.75pt">        •     the
ability to measure reliably the expenditure during development.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b> </b></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Following initial recognition of the
development expenditure as an asset, the cost model is applied requiring the asset to be carried at cost less any accumulated amortization
and accumulated impairment losses. Amortization of the asset begins when development is complete and the asset is available for
use. During the period of development, the asset is tested for impairment annually.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Impairment of non-financial assets</b></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">At the end of each reporting period,
the Company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that
those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated
in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of
an individual asset, the Company estimates the recoverable amount of the cash-generating units (“CGU”) to which the
asset belongs. Where a reasonable and consistent basis of allocation can be identified, corporate assets are also allocated to
individual CGU’s, or otherwise they are allocated to the smallest group of CGU’s for which a reasonable and consistent
allocation basis can be identified. The Company has identified its intangible asset, the digital platform, as one CGU for the purpose
of assessing impairment as synergies are realized between its digital products such that the products cannot be considered in insolation.
Intangible assets with indefinite useful lives and intangible assets not yet available for use are tested for impairment at least
annually, and whenever there is an indication that the asset may be impaired.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -20pt"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The recoverable amount is the higher
of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to
their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks
specific to the asset for which the estimates of future cash flows have not been adjusted.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -20pt"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">If the recoverable amount of an asset
or CGU is estimated to be less than its carrying amount, the carrying amount of the asset or CGU is reduced to its recoverable
amount. An impairment loss is recognized immediately in the consolidated statements of comprehensive loss.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -20pt"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Where an impairment loss subsequently
reverses, the carrying amount of the asset or CGU is increased to the revised estimate of its recoverable amount, but so that the
increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognized
for the asset or CGU in prior years. A reversal of an impairment loss is recognized immediately in the consolidated statements
of comprehensive loss.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Foreign currencies </b></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Transactions in foreign currencies are
initially recorded at the foreign currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated
in foreign currencies are translated into the functional currency of the Company at the rates prevailing on the balance sheet date.
For the purpose of presenting consolidated financial statements, the assets and liabilities of foreign operations with a functional
currency other than Canadian dollars are translated into Canadian dollars using exchange rates prevailing as at the balance sheet
date.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Leases</b></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Leases which do not transfer to the
Company substantially all the risks and benefits incidental to ownership of the leased item are classified as operating leases.
Leases entered into by the Company are solely operating leases, with costs recognized within general and administration expenses
in the consolidated statements of comprehensive loss in the period incurred.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><b>Income taxes</b></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Income tax expense is comprised of current
and deferred tax. Current tax is the expected tax payable or receivable on the taxable income or loss for the period, using tax
rates enacted or substantively enacted at the reporting date, and any adjustment to tax payable in respect of previous years.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Deferred tax is recognized in respect
of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts
used for taxation purposes. Deferred tax is measured at the tax rates that are expected to be applied to temporary differences
when they reverse, based on the laws that have been enacted or substantively enacted by the reporting date.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Deferred tax assets are recognized to
the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilized.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Investment tax credits</b></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The benefits of investment tax credits
for scientific research and development expenditures are recognized in the year the qualifying expenditure is made, providing there
is reasonable assurance of recovery.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><b>Provisions</b></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Provisions are recognized when the Company
has a present legal or constructive obligation that is the result of a past event, when it is probable that the Company will be
required to settle the obligation, and a reliable estimate of the amount of the obligation can be made. If the effect of the time
value of money is material, provisions are discounted using a current pre-tax rate that reflects the risk specific to the obligation.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Earnings per share</b></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The computation of earnings per share
is based on the weighted average number of shares outstanding during the period. Diluted earnings per share are computed in a similar
way to basic earnings per share except that the weighted average shares outstanding are increased to include additional shares
assuming the exercise of share options or warrants, or conversion of convertible debentures, if dilutive.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Share-based payments</b></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company measures equity settled
stock options granted based on their fair value at the grant date and recognizes compensation expense over the vesting period.
Measurement inputs include the Company’s share price on the measurement date, the exercise price of the option or warrant,
the expected volatility of the Company’s shares, the expected life of the options or warrants, and the risk-free rate of
return. Dividends are not factored in as the Company does not expect to pay dividends in the foreseeable future. Expected forfeitures
are estimated at the date of grant and subsequently adjusted if further information indicates actual forfeitures may vary from
the original estimate.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -20pt"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Share-based payment arrangements in
which the Company receives goods or services as consideration for its own equity instruments are accounted for as equity-settled
share-based payments transactions. In situations where equity instruments are issued and some or all of the goods or services received
by the entity as consideration cannot be specifically identified, they are measured at fair value of the share-based payment.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -20pt"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">For each restricted share unit (“RSU”)
granted, compensation expense is recognized equal to the market value of one common share at the date of grant based on the number
of RSUs expected to vest, recognized over the term of the vesting period, with a corresponding credit to contributed surplus.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Significant accounting judgements,
estimates and assumptions</b></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of the consolidated
financial statements requires management to make estimates, assumptions and judgments that affect the reported amount of assets
and liabilities, and the reported amount of revenues and expenses during the year. Actual results may differ from these estimates.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Estimates, assumptions, and judgments
are reviewed on an ongoing basis. Revisions to accounting estimates are recognized on a prospective basis beginning from the period
in which they are revised.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><i> </i></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><b>Significant accounting judgements</b></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The following are the critical judgements,
apart from those involving estimations that have been made in the process of applying the Company’s accounting policies,
which have the most significant effect on the amounts recognized in the consolidated financial statements.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Capitalization of intangible assets</i></b></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">In applying its accounting policy for
costs incurred during the development phase for new software, the Company must determine whether the criteria for capitalization
have been met. The most difficult and subjective estimate is whether a project will generate probable future economic benefits.
Management considers all appropriate facts and circumstances in making this assessment including historical experience, costs and
anticipated future economic conditions.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><b>Significant accounting estimates and assumptions</b></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">These estimates and assumptions are
based on management’s historical experience, best knowledge of current events, conditions and actions that the Company may
undertake in the future and other factors that management believes are reasonable under the circumstances.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -20pt"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">These estimates and assumptions are
reviewed periodically, and the effect of a change in accounting estimate or assumption is recognized prospectively by including
it in the consolidated statement of comprehensive loss in the period of the change and in any future periods affected.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -20pt"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The areas where estimates and assumptions
have the most significant effect on the amounts recognized in the consolidated financial statements include the following:</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Valuation of long-lived assets
and asset impairment</i></b></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Estimated useful lives of property and
equipment and intangible assets are based on management’s judgment and experience.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -20pt"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">When management identifies that the
actual useful lives for these assets differ materially from the estimates used to calculate depreciation and amortization, that
change is adjusted prospectively. Due to the significant investment in intangible assets by the Company, variations between actual
and estimated useful lives could impact operating results both positively and negatively. Asset lives, depreciation and amortization
methods, and residual values are reviewed periodically.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -20pt"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company periodically assesses the
recoverability of values assigned to long-lived assets after considering potential impairment indicated by such factors as significant
changes in technological, market, economic or legal environment, business and market trends, future prospects, current market value
and other economic factors. In performing its review of recoverability, management estimates either the value in use or fair value
less costs to sell.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Allowance for loan losses</i></b></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Our provision for loan losses consists
of amounts charged to the consolidated statement of comprehensive loss during the period to maintain an adequate allowance for
loan losses. Our allowance for loan losses represents our estimate of the expected credit losses inherent in our existing loan
portfolio and is based on a variety of factors, including the composition and quality of the portfolio, loan-specific information
gathered through our collection efforts, delinquency levels, our historical charge-off and loss experience, our expectations of
future loan performance, and general forward-looking macroeconomic conditions. The methodology and assumptions used in setting
the loan loss allowance are reviewed regularly to reduce any difference between loss estimates and actual loss experience.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">         </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Fair value of share-based payments</i></b></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company uses the Black-Scholes valuation
model to determine the fair value of equity-settled stock options. Management exercises judgment in determining certain inputs
to this model including the expected life of the options, expected volatility and forfeiture rates, and expected dividend yield.
Variation in actual results for any of these inputs will result in a different fair value of the stock option as compared to the
original estimate.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Income taxes</i></b></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Provisions for income taxes are made
using the best estimate of the amount expected to be paid based on a qualitative assessment of all relevant factors. The Company
reviews the adequacy of these provisions at the end of the reporting period. However, it is possible that at some future date an
additional liability could result from audits by tax authorities. Where the final outcome of these tax-related matters is different
from the amounts that were initially recorded, such differences will affect the tax provisions in the period in which such determination
is made.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Derivative financial liability </b></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Warrants issued with a cashless exercise
option are recorded at fair value, and classified as a derivative financial liability at initial recognition. Subsequent changes
in fair value recorded as a gain or loss in the consolidated statements of comprehensive loss. As the warrants are exercised, the
value of the recorded liability will be included in share capital along with the proceeds from the exercise. If these warrants
expire, the related liability is reversed through the consolidated statements of comprehensive loss.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Recent IFRS standards adopted in
2018</b></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We adopted the following new accounting
standards and amendments, which are effective for our interim and annual consolidated financial statements commencing January 1,
2018.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>IFRS 9, Financial Instruments</i></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">On January 1, 2018, the Company adopted
IFRS 9, <i>Financial Instruments</i>, which replaces IAS 39, Financial Instruments: <i>Recognition and Measurement</i>. This standard
establishes new measurement categories for classifying financial assets, and new guidance in relation to impairment and hedge accounting.
The new hedge accounting requirements have no material impact on the Company’s consolidated financial statements.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -20pt"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">IFRS 9 is effective for annual periods
beginning on or after January 1, 2018. As permitted by the standard, the Company has chosen not to restate comparative consolidated
financial statements. Refer to “Summary of IFRS 9 adoption impact” earlier within Note 3 to these consolidated financial
statements for further discussion.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>IFRS 15, Revenue from Contacts with
Customers</i></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">On January 1, 2018, the Company adopted
IFRS 15 – <i>Revenue from Contracts with Customers</i>. The new standard includes a five-step recognition and measurement
approach for revenue arising from contracts with customers, and includes new requirements for accounting for contract costs. Revenues
arising from financial instruments within the scope of <i>IFRS 9 – Financial Instruments</i>, specifically interest revenue
and loan fees, are excluded from the scope of IFRS 15. All other revenue streams are included within the scope of IFRS 15.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -20pt"><b>          </b></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">IFRS 15 is effective for annual periods
beginning on or after January 1, 2018, and supersedes IAS 11, Construction Contracts, and IAS 18, Revenue, as well as various International
Financial Reporting Interpretative Committee (<i>“</i>IFRIC<i>”</i>) and Standards Interpretations Committee (<i>“</i>SIC<i>”</i>)
interpretations regarding revenue. The adoption of this standard did not have any significant impact on the Company’s consolidated
financial statements.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>New IFRS standards and interpretations
not yet applied</b></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>IFRS 16, Leases</i></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">In January 2016, the IASB issued IFRS
16, <i>Leases</i>, effective for annual periods beginning on or after January 1, 2019, with earlier adoption permitted. IFRS 16
will replace IAS 17, <i>Leases</i>. The Company intends to adopt IFRS 16 in its financial statements for the fiscal year beginning
on January 1, 2019.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -20pt"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">IFRS 16 removes the distinction between
operating and finance leases from the lessee’s perspective and introduces a single lessee accounting model. The standard
requires a lessee to recognize a “right of use” asset and a corresponding lease liability for substantially all leases,
with the exception of leases with terms less than 12 months and leases of low value assets. Requirements for lessor accounting
are largely unchanged from IAS 17. IFRS 16 will also result in reclassification of the nature of lease expenses to depreciation
and interest expense, from their classification of “premises expense” under IAS 17.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">IFRS 16 offers a range of transition
options. The Company plans to apply IFRS 16 using the modified retrospective approach. Therefore the cumulative effect of adopting
IFRS 16, if any, will be recognized as an adjustment to opening retained earnings as at January 1, 2019, with no restatement of
comparative information. Under this method using the practical expedient available the Company is planning to recognize the right
of use asset equal to the lease liability. Additionally, the Company will elect to apply the standard to contracts that were previously
identified as leases applying IAS 17 and IFRIC 4.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Based on the information currently
available, the Company estimates that it will recognize a lease liability and right to use asset of approximately $6.0 million
to $7.5 million as at January 1, 2019. This preliminary estimate is subject to adjustment as management continues to monitor and
refine certain elements of its IFRS 16 adoption in advance of Q1 2019 reporting. The Company is on track to complete its implementation
of IFRS 16 effective January 1, 2019. Further, the Company has discussed the impact of IFRS 16 adoption with its lender and concluded
that the adoption of the Standard will have no impact on the financial covenants as described in Note 9.</p>
<p style="margin: 0pt"></p>
<table cellspacing="0" cellpadding="0" style="width: 100%">
<tr>
<td style="font: 12pt Times New Roman, Times, Serif; text-align: justify"><font style="font-size: 10pt">Loans receivable represent unsecured installment loans and lines of credit advanced to customers in the normal course of business. The terms of the loans vary from 2-5 years for installment loans and 1 year for lines of credit. The Company phased out its legacy short-term loan products from its business in the third quarter of 2018. Installment loans are issued with maturity dates beyond one year and are thus considered non-current. The breakdown of the Company’s gross loans receivable as at December 31, 2018 and 2017 is as follows:</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b> </b></p>
<table cellspacing="0" cellpadding="0" style="border-top: black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%; font-size-adjust: none; font-stretch: normal">
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" id="hdcell" style="border-bottom: black 1pt solid">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><b>December 31, </b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><b>2018</b></p></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" style="border-bottom: black 1pt solid">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">December 31,</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">2017</p></td>
<td style="text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Current</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td id="ffcell" style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt"><b>62,439</b></font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">46,977</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Non-Current</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>39,317</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">33,917</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>101,756</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">80,894</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; font-size-adjust: none; font-stretch: normal">
<tr style="vertical-align: top">
<td style="text-align: justify"><font style="font-size: 10pt">The following table provides a breakdown of gross loans receivable and allowance for loan losses by aging bucket according to their IFRS 9 ECL measurement stage. In this presentation, the entire customer loan balance is aged in the same category as its oldest individual past due payment, to align with the stage groupings used in calculating the allowance for loan losses under IFRS 9:</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; font-size-adjust: none; font-stretch: normal">
<tr>
<td colspan="16" style="text-align: right"><font style="font-size: 10pt"><b>As at December 31, 2018</b></font></td>
<td style="text-align: justify"> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td style="border-top: black 1pt solid; text-align: justify"> </td>
<td style="border-top: black 1pt solid; text-align: justify"> </td>
<td colspan="2" style="border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt"><b>Stage 1</b></font></td>
<td style="border-top: black 1pt solid; text-align: justify"> </td>
<td style="border-top: black 1pt solid; text-align: justify"> </td>
<td colspan="2" style="border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt"><b>Stage 2</b></font></td>
<td style="border-top: black 1pt solid; text-align: justify"> </td>
<td style="border-top: black 1pt solid; text-align: justify"> </td>
<td colspan="2" style="border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt"><b>Stage 3</b></font></td>
<td style="border-top: black 1pt solid; text-align: justify"> </td>
<td style="border-top: black 1pt solid; text-align: justify"> </td>
<td colspan="2" style="border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt"><b>Total</b></font></td>
<td style="border-top: black 1pt solid; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Not past due</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">88,035</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">-</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">99</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">88,134</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">1-30 days past due</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">3,097</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">257</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">3,354</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">31-60 days past due</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,838</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">491</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">2,329</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">61-90 days past due</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,240</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">469</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,709</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">91-180 days past due</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">6,230</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">6,230</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Gross loans receivable</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">91,132</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">3,078</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">7,546</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">101,756</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Allowance for loan losses</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(6,951</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(2,118</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(6,340</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(15,409</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; border-bottom: black 1pt solid; text-align: justify"><font style="font-size: 10pt"><b>Loans receivable, net</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>84,181</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>960</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>1,206</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>86,347</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; font-size-adjust: none; font-stretch: normal">
<tr style="vertical-align: top">
<td style="text-align: justify"><font style="font-size: 10pt">The following table presents the aging of loans as at December 31, 2017 and 2016 in accordance with IAS 39. In contrast to IFRS 9, these receivables were aged on an individual payment basis rather than at the customer balance level:</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>  </b></p>
<table cellspacing="0" cellpadding="0" style="border-bottom: black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%; font-size-adjust: none; font-stretch: normal">
<tr>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="6" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt"><b>As at December 31,</b></font></td>
<td style="text-align: justify"> </td></tr>
<tr style="vertical-align: bottom">
<td style="border-bottom: black 1pt solid; text-align: justify"><font style="font-size: 10pt"><b>Age analysis of loans receivable</b></font></td>
<td style="text-align: justify"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt"><b>2017</b></font></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt"><b>2016</b></font></td>
<td style="text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Not past due</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">73,965</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">61,648</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">1-30 days past due</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,546</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,338</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">31-60 days past due</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,296</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,205</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">61-90 days past due</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,183</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,223</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">91-180 days past due</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">2,904</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">3,772</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Gross loans receivable</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">80,894</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">69,186</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Allowance for loan losses</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(7,434</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(7,311</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Loans receivable, net</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">73,460</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">61,875</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b> </b> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b></b></p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; font-size-adjust: none; font-stretch: normal">
<tr>
<td style="text-align: justify"><font style="font-size: 10pt">The following table provides an analysis of changes in the allowance for loan losses according to their IFRS 9 stage grouping for the year ended December 31, 2018: </font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"><b>    
   </b></p>
<table cellspacing="0" cellpadding="0" style="border-top: black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%; font-size-adjust: none; font-stretch: normal">
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt"><b>Stage 1</b></font></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt"><b>Stage 2</b></font></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt"><b>Stage 3</b></font></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt"><b>Total</b></font></td>
<td style="text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Balance as at January 1, 2018</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">6,853</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">1,579</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">4,137</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">12,569</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Gross loans originated</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">5,354</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">5,354</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Principal payments and net re-measurement of allowance</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(3,688</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(176</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">334</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(3,530</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Transfers to:</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; padding-left: 11.25pt; text-align: justify"><font style="font-size: 10pt">Stage 1 – 12 month ECLs</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">5</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(24</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(16</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(35</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; padding-left: 11.25pt; text-align: justify"><font style="font-size: 10pt">Stage 2 – Lifetime ECLs</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(270</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">2,116</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,846</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; padding-left: 11.25pt; text-align: justify"><font style="font-size: 10pt">Stage 3 – Lifetime ECLs</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(1,303</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(1,377</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">17,451</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">14,771</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Net amounts written off against allowance</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(15,566</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(15,566</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; border-bottom: black 1pt solid; text-align: justify"><font style="font-size: 10pt"><b>Balance as at December 31, 2018</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>6,951</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>2,118</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>6,340</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>15,409</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; font-size-adjust: none; font-stretch: normal">
<tr style="vertical-align: top">
<td style="text-align: justify"><font style="font-size: 10pt">The overall changes in the allowance for loan losses are summarized below for December 31, 2018 and 2017:</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">  </p>
<table cellspacing="0" cellpadding="0" style="border-bottom: black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%; font-size-adjust: none; font-stretch: normal">
<tr style="vertical-align: bottom">
<td style="border-bottom: black 1pt solid; text-align: justify"><font style="font-size: 10pt"><b>Allowance for loan losses</b></font></td>
<td style="text-align: justify"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt"><b>2018</b></font></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt">2017</font></td>
<td style="text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Balance, beginning of period</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt"><b>7,434</b></font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">7,311</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">January 1, 2018 IFRS 9 adjustment</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>5,135</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Provision for loan losses</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>18,406</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">13,343</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Charge offs</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>(15,566</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt"><b>)</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(13,220</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Balance, end of period</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>15,409</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">7,434</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; font-size-adjust: none; font-stretch: normal">
<tr>
<td style="text-align: justify"><font style="font-size: 10pt">The provision for loan losses in the consolidated statement of comprehensive loss is recorded net of recoveries of $2,039 (2017 –$1,934).</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>
<p style="margin: 0pt"></p>
<table cellspacing="0" cellpadding="0" style="width: 100%">
<tr>
<td style="font: 12pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The
significant related-party transactions that occurred during the year ended December 31, 2018 were transactions with
debenture holders that incur interest. Related party debentures at year end totaled $3,287 (December 31, 2017 –
$3,145) with principal amounts maturing at various periods through to August 1, 2021. The debentures bear interest rates
from 12.0% to 18.0% (December 31, 2017 – 15.0% to 18.0%) with interest expense of $538 for the year ended December 31,
2018 (December 31, 2017 – $498). The related parties involved in such transactions include shareholders,
officers, directors, and management; members of their families; or entities which are directly or indirectly
controlled by members of their families. The debentures are ongoing contractual obligations that are used to fund our
corporate and operational activities. These debentures are contractually obligated to be paid on the maturity
date.</font></td></tr>
<tr>
<td style="font: 12pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr>
<td><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b><i>Key
management personnel</i></b></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Key
management personnel (“KMP”) are those persons having authority and responsibility for planning, directing
and controlling the activities of the entity, directly or indirectly. Key management personnel consists of officers and
directors.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Aggregate
compensation of KMP during the year consisted of:</font></p></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b> </b></font></p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; font-size-adjust: none; font-stretch: normal">
<tr style="vertical-align: bottom">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" id="hdcell" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>2018</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2017</font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Salary
and short term benefits</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td id="ffcell" style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>2,087</b></font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,281</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Share
– based payments</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>489</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">632</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>2,576</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,913</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The
Company and Postmedia Network Inc. (“Postmedia”) entered into a three year Marketing Collaboration Agreement (the
“Postmedia Agreement”) effective January 25, 2016, whereby Postmedia provides Mogo with a minimum value of $50 million
of promotional commitments in exchange for entering into a revenue sharing arrangement with Mogo.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 18.7pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">During
April 2018, Mogo extended the term of the Postmedia Agreement for an additional two years beyond the end of the original agreement.
The extended agreement is effective until December 31, 2020 and provides Mogo a similar minimum annual media value from Postmedia
to the original agreement. Under the extended agreement, Postmedia receives a fixed quarterly payment equivalent to the Q4 2017
revenue share payment, instead of receiving a percentage of Mogo’s revenue. In connection with the amendment of the Postmedia
Agreement, the vesting and term of the Performance Warrants previously granted to Postmedia were also adjusted. See Note 18(d)
for further information. In 2016, Mogo paid Postmedia a one-time program setup fee of $1,171 plus tax, which is being amortized
over the life of the Postmedia Agreement, until December 31, 2020. The remaining balance as at December 31, 2018 is $273 (December
31, 2017 - $410).</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>
<table cellspacing="0" cellpadding="0" style="border-top: black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" id="hdcell" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Computer
equipment</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Furniture
and fixtures</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Leasehold
improvements</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Total</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr>
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Cost</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" id="ffcell" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Balance
at December 31, 2016</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,067</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,585</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,592</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">6,244</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Additions</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">271</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">30</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">65</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">366</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Disposals</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(1</font></td>
<td style="vertical-align: bottom; padding-bottom: 0.75pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(115</font></td>
<td style="vertical-align: bottom; padding-bottom: 0.75pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(148</font></td>
<td style="vertical-align: bottom; padding-bottom: 0.75pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(264</font></td>
<td style="vertical-align: bottom; padding-bottom: 0.75pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Balance
at December 31, 2017</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,337</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,500</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,509</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">6,346</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Additions</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,814</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,816</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Impairment</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(1,105</font></td>
<td style="vertical-align: bottom; padding-bottom: 0.75pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(1,105</font></td>
<td style="vertical-align: bottom; padding-bottom: 0.75pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Balance
at December 31, 2018</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>5,046</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>1,502</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>2,509</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>9,057</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Accumulated
depreciation</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Balance
at December 31, 2016</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,031</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">612</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">679</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,322</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Additions</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">357</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">168</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">457</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">982</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Disposals</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(1</font></td>
<td style="vertical-align: bottom; padding-bottom: 0.75pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(32</font></td>
<td style="vertical-align: bottom; padding-bottom: 0.75pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(131</font></td>
<td style="vertical-align: bottom; padding-bottom: 0.75pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(164</font></td>
<td style="vertical-align: bottom; padding-bottom: 0.75pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Balance
at December 31, 2017</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,387</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">748</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,005</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,140</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Additions</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,285</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">151</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">465</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,901</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Balance
at December 31, 2018</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>3,672</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>899</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>1,470</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>6,041</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Net
book value</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">At
December 31, 2017</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">950</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">752</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,504</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,206</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>At
December 31, 2018</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>1,374</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>603</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>1,039</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>3,016</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">During
2018, the Company recognized $1,105 of impairment on Bitcoin mining equipment due to a reduction in the market value of mining
equipment and the market price of Bitcoin. This non-cash expense was recorded within other one-time expenses in the consolidated
statement of comprehensive loss. The recoverable amount of the Bitcoin mining equipment was determined to be $504 under the fair
value less costs to sell method, using a Level 1 input under the fair value hierarchy.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -20pt"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Depreciation
of leasehold improvements are included in general and administration expenses. Depreciation expense for all other property and
equipment are included in technology and development costs.</font></p>
<table cellspacing="0" cellpadding="0" style="border-top: black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" id="hdcell" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Internally
generated – Completed</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Internally</b></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>generated
–</b></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>In
Process</b></font></p></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Vendor
</b></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Purchases</b></font></p></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Total</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr>
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Cost</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" id="ffcell" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Balance
at December 31, 2016</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">8,593</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">6,333</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,340</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">18,266</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Additions</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">5,143</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">11</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">5,154</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Transfers</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">7,935</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(7,935</font></td>
<td style="vertical-align: bottom; padding-bottom: 0.75pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Balance
at December 31, 2017</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>16,528</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>3,541</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>3,351</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>23,420</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Additions</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">7,730</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">5</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">7,735</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Transfers</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">10,373</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(10,373</font></td>
<td style="vertical-align: bottom; padding-bottom: 0.75pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Balance
at December 31, 2018</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>26,901</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>898</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>3,356</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>31,155</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Accumulated
depreciation</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Balance
at December 31, 2016</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,122</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,895</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">6,017</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Additions</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,369</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">137</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,506</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Balance
at December 31, 2017</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>5,491</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>3,032</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>8,523</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Additions</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,883</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">91</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,974</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Balance
at December 31, 2018</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>9,374</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>3,123</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>12,497</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Net
book value</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">At
December 31, 2017</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">11,037</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,541</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">319</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">14,897</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>At
December 31, 2018</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>17,527</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>898</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>233</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>18,658</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Intangible
assets include both internally generated and acquired software with finite useful lives. Amortization of intangible assets is
included in technology and development costs.</font></p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company currently has two credit facilities,
the “Credit Facility – Liquid”, which is used to finance the Company’s installment loan products (“Liquid
loans”), and the “Credit Facility – Other”, which is used to finance other loan products.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On September 1, 2015 the Company entered into
the Credit Facility – Liquid through a structured entity called Mogo Finance Trust. The Credit Facility – Liquid consists
of a term loan that authorizes an operating line for a maximum of $50 million and matures on August 31, 2020. Under the terms of
the agreement, the facility may be increased up to $200 million upon certain conditions. The amount drawn on the facility as at
December 31, 2018 was $32,375 (December 31, 2017 – $29,439) with unamortized deferred financing costs of $554 (December 31,
2017 – $887) netted against the amount owing. The term loan bears interest at a variable rate of LIBOR plus 8.00% (with a
LIBOR floor of 1.50%), payable on the greater of the actual aggregate unpaid principal balance, or the prescribed minimum balance
under the term loan agreement. For the three month period ended December 31, 2018 the prescribed minimum balance was $44 million.
The prescribed minimum balance is reset to $33 million in the first quarter of 2019, and will rise incrementally up to $44 million
by the maturity date. As at December 31, 2018, LIBOR was 2.50% (December 31, 2017 – 1.56%). Interest expense on the Credit
Facility - Liquid is included in credit facility interest expense in the consolidated statements of comprehensive loss.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On September 25, 2017, the Company finalized
a new senior secured credit facility of up to $40 million (“Credit Facility – Other” and, together with the Credit
Facility – Liquid) which was used to repay and replace Mogo’s previous $30 million “Credit Facility – ST”
entered into on February 24, 2014. This transaction resulted in the extinguishment of the (“Credit Facility – ST”).
The Credit Facility – Other matures on July 2, 2020, compared to the maturity date of July 2, 2018 under the previous facility.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On December 18, 2018, the Company increased
the borrowing limit on the Credit Facility – Other from $40 million to $50 million. The facility bears interest at a variable
rate of LIBOR plus 12.50% (with a LIBOR floor of 2.00%) up to the first $40 million of borrowing, a decrease from the variable
rate of LIBOR plus 13.00% (with a LIBOR floor of 2.00%) under the previous Credit Facility - ST. The incremental portion of facility
borrowings above $40 million bears interest at a variable rate of LIBOR plus 11.00% (with a LIBOR floor of 2.00%). Consistent with
the previous facility, there is a 0.33% fee on the available but undrawn portion of the $50 million facility. The amount drawn
on the new facility as at December 31, 2018 was $44,327 (December 31, 2017 – $28,749) with unamortized deferred financing
costs of $214 (December 31, 2017 – $191) netted against the amount owing.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Both credit facilities are subject to certain
covenants and events of default. As of December 31, 2018, the Company is in compliance with these covenants. Interest expense
on both credit facilities is included in credit facility interest expense in the consolidated statements of comprehensive loss.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Debentures
require monthly interest only payments and bear interest at annual rates ranging between 10.0% and 18.0% (2017 – 12.0% and
18.2%) with principal amounts due at various periods up to March 1, 2022. Interest expense on the debentures is included in debenture
interest expense in the consolidated statements of comprehensive loss. Debentures are subordinated to the Credit Facility –
Other and are secured by the assets of the Company. The Debentures are governed by the terms of a trust deed and, among other
things, are subject to a subordination agreement which effectively extends the earliest maturity date of such debentures to July
2, 2020, the maturity date of the Credit Facility – Other.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -20pt"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Management
routinely reviews its outstanding debentures and actively renegotiates terms, including interest rates and maturity dates, and
will continue to refinance these long-term debentures as they become due and payable.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -20pt"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The
debenture principal repayment dates, after giving effect to the subordination agreement referenced above, are as follows:</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b> </b></font></p>
<table cellspacing="0" cellpadding="0" style="border-top: black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">2019</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td id="ffcell" style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">2020</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">27,968</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">2021</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">9,787</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">2022</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,870</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>41,625</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="margin: 0pt"></p>
<table cellspacing="0" cellpadding="0" style="width: 100%">
<tr>
<td><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">On
June 6, 2017, the Company issued 10% convertible debentures of $15.0 million aggregate principal amount at a price of
one thousand dollars per debenture. The interest is payable semi-annually on November 30 and May 31. The convertible debentures
are subordinated to existing credit facilities, but senior to all other secured and subordinated indebtedness, and are
secured by the assets of the Company. The maturity date of the convertible debentures is June 6, 2020. The convertible
debentures are convertible, at the option of the holder, in whole or in part, into common shares of the Company at any
time before the maturity date at a price of $5.00 per common share (the “Conversion Price”).</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Principal
and interest are payable in cash or, at the Company’s option, subject to regulatory approval and provided no events
of default have occurred, in common shares of the Company issued at a price equal to the volume weighted average trading
price (“VWAP”) of the common shares for the 20 trading days ending on the fifth day prior to the maturity
date or the date on which the Interest payment is due, as applicable.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><i>Prepayment</i></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The
Company may, at its option any time after 12 months from the closing date and at any time prior to maturity, subject to
regulatory approval and provided that no events of default have occurred, prepay the convertible debentures in whole or
in part, plus accrued interest, in cash. If the prepayment occurs:</font></p></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b> </b></font></p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; font-size-adjust: none; font-stretch: normal">
<tr style="vertical-align: top">
<td style="width: 8%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="width: 4%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">(i)</font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">within 24 months
of the closing date, then the debenture holders are entitled to receive (1) an additional payment equal to 5% of the prepayment
amount and (2) the interest that would have accrued from the date of prepayment to, but excluding, the day that is 24 months
from the closing date; or</font></td></tr>
<tr>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="vertical-align: top">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">(ii)</font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">after 24 months
of the closing date but prior to the maturity date, then the debenture holders are entitled to receive the interest that would
have accrued from the date of prepayment to, but excluding, the maturity date.</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">  </font></p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font-size-adjust: none; font-stretch: normal">
<tr>
<td><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><i>Early
Conversion</i></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The
Company may at any time that the 20-day VWAP of the common shares exceeds 115% of the Conversion Price, subject to regulatory
approval and provided no events of default have occurred, convert the convertible debentures in whole or in part, including
any accrued interest, to common shares at the Conversion Price of $5.00 per common share.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">On
the date of issuance, the gross proceeds of $15.0 million were first allocated to the debt component of the convertible
debentures by discounting the future principal and interest payments at the prevailing interest rate at the date of issuance
for a similar non-convertible debt instrument. The difference between gross proceeds and the debt component, or residual
value, was then allocated to contributed surplus within shareholders’ equity. Transaction costs were allocated to
the debt and equity components on a pro-rata basis, and amortized as a component of accretion of the convertible debenture.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The
following table summarizes the carrying value of the convertible debentures as at December 31, 2018 and 2017:</font></p></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b> </b></font></p>
<table cellspacing="0" cellpadding="0" style="border-top: black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%; font-size-adjust: none; font-stretch: normal">
<tr style="vertical-align: bottom">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" id="hdcell" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">Liability
component of convertible debentures</font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">Equity
component of convertible debentures</font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Net
book value</b></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>2018</b></font></p></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">Net
book value</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2017</font></p></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Convertible
debentures</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td id="ffcell" style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">11,973</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">939</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>12,912</b></font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">14,905</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Transaction costs</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(1,248</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(98</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>(1,346</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>)</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(1,472</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Net proceeds</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">10,725</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">841</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>11,566</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">13,433</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Accretion in carrying
value of debenture liability</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,056</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>1,056</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">404</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">11,781</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">841</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>12,622</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">13,837</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; font-size-adjust: none; font-stretch: normal">
<tr>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Interest expense,
which includes interest payable and the accretion of the convertible debenture, in the amounts of $1,947 for the year ended
December 31, 2018 (December 31, 2017 – $1,248) is included in debenture interest expense in the consolidated statements
of comprehensive loss.In 2018, the Company issued 367,270 shares in lieu of interest payable (December 31, 2017 – 122,655)
and 398,600 (December 31, 2017 – 19,000) shares for the conversion of $1,865 of principal (December 31, 2017 –
$87).</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 4%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">(a)</font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Provision for income
taxes</font></td></tr>
<tr>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The major components
of provision for income taxes are as follows:</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<table cellspacing="0" cellpadding="0" style="border-top: black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" id="hdcell" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>2018</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2017</font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" id="ffcell" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Current
tax expense</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Provision
for income taxes</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The reconciliation
of the provision for income taxes to the amount of income taxes calculated using statutory income tax rates applicable to
the Company in Canada is as follows:</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>
<table cellspacing="0" cellpadding="0" style="border-top: black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt"><b>2018</b></font></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt">2017</font></td>
<td style="text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Canadian federal and provincial recovery of income taxes using statutory rate of 27% (2017 – 27%)</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt"><b>(5,946</b></font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font-size: 10pt"><b>)</b></font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">(5,381</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font-size: 10pt">)</font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Change in unrecognized deductible temporary differences and unused tax losses</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>6,098</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">4,397</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Permanent differences and other</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>(152</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt"><b>)</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">984</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; border-bottom: black 1pt solid; text-align: justify"><font style="font-size: 10pt"><b>Provision for income taxes</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>-</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">  </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 4%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">(b)</font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Deferred tax assets</font></td></tr>
<tr>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">As at December 31,
the Company’s deferred tax assets are as follows:</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<table cellspacing="0" cellpadding="0" style="border-top: black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>2018</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2017</font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; border-bottom: black 1pt solid; width: 78%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Unused
tax losses</font></td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; width: 8%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>141</b></font></td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; width: 8%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">776</font></td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 4%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">(c)</font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Deferred tax liabilities</font></td></tr>
<tr>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">As at December 31,
the Company’s deferred tax liabilities are as follows:</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<table cellspacing="0" cellpadding="0" style="border-top: black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>2018</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2017</font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Convertible
debentures</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>67</b></font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">233</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Deferred
cost</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>74</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">111</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Intangible
assets</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">250</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Investment
tax credits</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Property
and equipment</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">182</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>141</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">776</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 4%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">(d)</font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Deductible temporary
differences and unused tax losses</font></td></tr>
<tr>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">As at December 31,
the Company has deductible temporary differences for which no deferred tax assets are recognized as follows: </font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>
<table cellspacing="0" cellpadding="0" style="border-top: black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt"><b>2018</b></font></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt">2017</font></td>
<td style="text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Property and equipment</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt"><b>2,250</b></font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">-</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Intangible assets</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>4,368</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,412</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Debentures</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>1,658</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,123</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Financing costs</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>2,390</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">4,161</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Research and development expenditures</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>1,163</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,342</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Other</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>21</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">326</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>11,850</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">8,364</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">As at December 31,
the company has unused tax losses for which no deferred tax assets are recognised as follows:</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="border-top: black 1pt solid; text-align: justify"> </td>
<td style="border-top: black 1pt solid; text-align: justify"> </td>
<td colspan="2" style="border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt"><b>2018</b></font></td>
<td style="border-top: black 1pt solid; text-align: justify"> </td>
<td style="border-top: black 1pt solid; text-align: justify"> </td>
<td colspan="2" style="border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt">2017</font></td>
<td style="border-top: black 1pt solid; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Expires 2024</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">610</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">610</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Expires 2025</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,075</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,075</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Expires 2026</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">2,136</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">2,136</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Expires 2027</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">5,203</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">5,203</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Expires 2028</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">2,064</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">2,064</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Expires 2029</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">4,663</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">4,663</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Expires 2030</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">3,698</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">3,698</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Expires 2031</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,614</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,614</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Expires 2032</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">4,849</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">4,849</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Expires 2033</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">10,454</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">10,454</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Expires 2034</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">7,416</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">7,416</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Expires 2035</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">9,835</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">9,835</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Expires 2036 </font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">19,008</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">19,008</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Expires 2037 </font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">19,824</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">19,824</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Expires 2038</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">16,277</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>108,726</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">92,449</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify"> </p>
<p style="margin: 0pt"></p>
<table cellspacing="0" cellpadding="0" style="border-top: black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" id="hdcell" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt"><b>2018</b></font></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt">2017</font></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt">2016</font></td>
<td style="text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Personnel expense</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td id="ffcell" style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt"><b>16,702</b></font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">17,869</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">18,552</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Marketing</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>8,291</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">5,916</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">5,277</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Depreciation and amortization</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>7,062</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">4,045</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">2,707</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Hosting and software licences</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>4,110</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">2,075</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,999</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Professional services</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>1,281</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,389</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,628</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Premises</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>1,036</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,053</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,235</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Insurance and licenses</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>1,091</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">470</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">391</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Others</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>3,506</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">2,899</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">2,614</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>43,079</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">35,716</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">34,403</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td></tr>
</table>
<p style="margin: 0pt"></p>
<p style="margin: 0pt"></p>
<table cellspacing="0" cellpadding="0" style="width: 100%">
<tr>
<td>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Loss per share is based on consolidated comprehensive
loss for the year divided by the weighted average number of shares outstanding during the year. Diluted loss per share is computed
in accordance with the treasury stock method and is based on the weighted average number of shares and dilutive share equivalents.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following reflects consolidated comprehensive
loss and weighted average number of shares used in the basic and diluted loss per share computations:</p></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b> </b></p>
<table cellspacing="0" cellpadding="0" style="border-top: black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%; font-size-adjust: none; font-stretch: normal">
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" id="hdcell" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt"><b>2018</b></font></td>
<td style="text-align: right"> </td>
<td style="text-align: right"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt">2017</font></td>
<td style="text-align: right"> </td>
<td style="text-align: right"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt">2016</font></td>
<td style="text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Loss attributed to shareholders</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td id="ffcell" style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt"><b>(22,022</b></font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font-size: 10pt"><b>)</b></font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">(19,729</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font-size: 10pt">)</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">(17,092</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font-size: 10pt">)</font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Basic weighted average number of shares (in 000s)</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>22,714</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">18,381</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">18,251</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; border-bottom: black 1pt solid; text-align: justify"><font style="font-size: 10pt">Basic and diluted loss per share</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>(0.97</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font-size: 10pt"><b>)</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(1.07</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font-size: 10pt">)</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(0.94</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font-size: 10pt">)</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b></b></p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; font-size-adjust: none; font-stretch: normal">
<tr style="vertical-align: top">
<td style="text-align: justify"><font style="font-size: 10pt">The outstanding stock options and warrants were excluded from the calculation of diluted loss per share because their effect is anti-dilutive.</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>
<p style="margin: 0pt"></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company’s objectives when
managing capital are to maintain financial flexibility in order to preserve its ability to meet financial obligations and continue
as a going concern, and to deploy capital to provide future investment return to its shareholders.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -20pt"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company sets the amount and type
of capital required relative to its assessment of risk and makes adjustments when necessary to respond to changes to economic conditions,
the risk characteristics of the underlying assets, and externally imposed capital requirements. In order to maintain or modify
its capital structure, the Company may issue new shares, seek other forms of financing, or sell assets to reduce debt.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -20pt"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company manages the following as
capital:</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b> </b></p>
<table cellspacing="0" cellpadding="0" style="border-top: black 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: justify; line-height: 107%"> </td>
<td style="text-align: justify; line-height: 107%"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>2018</b></font></td>
<td style="text-align: justify; line-height: 107%"> </td>
<td style="text-align: justify; line-height: 107%"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">2017</font></td>
<td style="text-align: justify; line-height: 107%"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Share capital</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>75,045</b></font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">71,389</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Deficit</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>(90,784</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>)</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">(63,627</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Debentures</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>41,625</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">39,680</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Convertible debentures</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>12,622</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">13,837</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Credit facilities</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>75,934</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">57,110</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"> </td></tr>
</table>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><b> </b></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">There have been no changes in the Company’s
capital management objectives, policies and processes during the year. There are certain capital requirements of the Company resulting
from the Company’s credit facility that include financial covenants and ratios. Management uses these capital requirements
in the decisions made in managing the level and make-up of the Company’s capital structure. The Company is in compliance
with all of the financial covenants as at December 31, 2018.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -20pt"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Changes in the share capital of the
Company over the year ended December 31, 2018 are mainly attributed to the conversion of convertible debentures and related interest,
and the conversion of stock options and RSUs, as disclosed in Note 11 and Note 18, respectively.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Assets
and liabilities recorded at fair value in the consolidated statement of financial position are measured and classified in a hierarchy
consisting of three levels for disclosure purposes. The three levels are based on the priority of the inputs to the respective
valuation technique. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets
or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). An asset or liability’s classification
within the fair value hierarchy is based on the lowest level of significant input to its valuation. The input levels are defined
as follows:</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b> </b></font></p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr>
<td style="width: 4%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: top; width: 4%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">•</font></td>
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Level
1: Unadjusted quoted prices in an active market for identical assets and liabilities.</font></td></tr>
<tr>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">•</font></td>
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Level
2: Quoted prices in markets that are not active or inputs that are derived from quoted prices of similar (but not identical)
assets or liabilities in active markets. Level 2 inputs include quoted prices for assets in markets that are considered less
active.</font></td></tr>
<tr>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">•</font></td>
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Level
3: Unobservable inputs that are supported by little or no market activity and are significant to the estimated fair value
of the assets or liabilities.</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The fair value of
cash, current loans receivable, accounts payable and accruals, and other liabilities is approximated by their carrying amount
due to their short-term nature. The fair value of the Company’s non-current loans receivable is determined by discounting
expected future contractual cash flows, taking into account expected prepayments and using management’s best estimate
of average market interest rates with similar remaining terms, which are classified as Level 3 input within the fair value
hierarchy:</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<table cellspacing="0" cellpadding="0" style="border-top: black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="6" id="hdcell" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>December
31, 2018</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="6" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">December
31, 2017</font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Total
Fair </b></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Value
</b></font></p></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Total
Carrying Value</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Total
Fair</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Value</font></p></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Total
Carrying Value</font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; border-bottom: black 1pt solid; width: 56%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Loans
Receivable – Non-Current (Level 3)</b></font></td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td id="ffcell" style="vertical-align: bottom; border-bottom: black 1pt solid; width: 8%; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">41,595</font></td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; width: 8%; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">39,317</font></td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; width: 8%; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">36,567</font></td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; width: 8%; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">33,917</font></td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0.35pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The
fair values of the Company’s debentures and convertible debentures are estimated using discounted cash flows based upon
the Company’s current borrowing rates for similar borrowing arrangements, which are classified as Level 2 inputs within
the fair value hierarchy. The carrying values of debentures approximate their fair value as new debt granted with similar risk
profiles bear similar rates of return. The fair value of the Company’s derivative financial liability is determined using
the Black Scholes option pricing model and is classified as Level 2. Management has determined that the fair values of the credit
facilities do not materially differ from its carrying values as the facilities are subject to a floating interest rate, effecting
current market conditions, and there have been no significant changes in the Company’s risk profile since issuance of the
credit facilities.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">During
the year ended December 31, 2018, there were no transfers of assets or liabilities within the fair value hierarchy levels.</font></p>
<p style="margin: 0pt"></p>
<table cellspacing="0" cellpadding="0" style="width: 100%">
<tr>
<td><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b><i>Risk
management policy</i></b></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">In
the normal course of business, the Company is exposed to financial risk that arises from a number of sources. Management’s
involvement in operations helps identify risks and variations from expectations. As a part of the overall operation of
the Company, Management takes steps to avoid undue concentrations of risk. The Company manages the risks as follows:</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b><i>Credit
risk</i></b></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Credit
risk is the risk of financial loss to the Company if a customer or counter-party to a financial instrument fails to meet
its contractual obligations and arises primarily from the Company’s loans receivable. The maximum amount of credit
risk exposure is limited to the gross carrying amount of the loans receivable disclosed in these financial statements.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The
Company acts as a lender of unsecured consumer loans and lines of credit and has little concentration of credit risk with
any particular individual, company or other entity, relating to these services. However, the credit risk relates to the
possibility of default of payment on the Company’s loans receivable. The Company performs on-going credit evaluations,
monitors aging of the loan portfolio, monitors payment history of individual loans, and maintains an allowance for loan
loss to mitigate this risk.</font></p></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b> </b></font></p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font-size-adjust: none; font-stretch: normal">
<tr>
<td><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The
credit risk decisions on the Company’s loans receivable are made in accordance with the Company’s credit policies
and lending practices, which are overseen by the Company’s senior management. Credit quality of the customer is
assessed based on a credit rating scorecard and individual credit limits are defined in accordance with this assessment.
The consumer loans receivable are unsecured. The Company develops underwriting models based on the historical performance
of groups of customer loans which guide its lending decisions. To the extent that such historical data used to develop
its underwriting models is not representative or predictive of current loan book performance, the Company could suffer
increased loan losses.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The
Company cannot guarantee that delinquency and loss levels will correspond with the historical levels experienced and there
is a risk that delinquency and loss rates could increase significantly.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b><i>Liquidity
risk </i></b></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Liquidity
risk is the risk that the Company will not be able to meet its financial obligations as they become due or will not receive
sufficient funds from its third party lenders to advance to the Company’s customers. The Company manages all liquidity
risk through maintaining a sufficient working capital amount through daily monitoring of controls, cash balances and operating
results. The Company’s principal sources of cash are funds from operations, which the Company believes will be sufficient
to cover its normal operating and capital expenditures.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The
Company’s accounts payable and accruals are substantially due within 12 months. The maturity schedule of the Company’s
credit facilities, debentures, and convertible debentures are described in Notes 9, 10 and 11 respectively. Management
will continue to refinance any outstanding amounts owing under the credit facilities and debentures as they become due
and payable.</font></p></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b> 
</b></font></p>
<table cellspacing="0" cellpadding="0" style="width: 100%; font-size-adjust: none; font-stretch: normal">
<tr>
<td><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b><i>Foreign
currency risk </i></b></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Currency
risk is the risk that changes in foreign exchange rates may have an effect on future cash flows associated with financial
instruments. The Company is exposed to foreign currency risk on the following financial instruments denominated in U.S.
dollars. A 5% increase or decrease in the U.S. dollar exchange rate would increase or decrease the unrealized exchange
gain (loss) by $266.</font></p></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; font-size-adjust: none; font-stretch: normal">
<tr style="vertical-align: bottom">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" id="hdcell" style="border-bottom: black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>December
31, </b></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>2018</b></font></p></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">December
31,</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2017</font></p></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">December
31,</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> 2016</font></p></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Cash</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td id="ffcell" style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>874</b></font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">171</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">65</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Debentures</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>4,770</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">4,770</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">4,870</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; font-size-adjust: none; font-stretch: normal">
<tr>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b><i>Interest rate
risk</i></b></font></td></tr>
<tr>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr>
<td><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Changes
in market interest rates may have an effect on the cash flows associated with some financial assets and liabilities, known
as cash flow risk, and on the fair value of other financial assets or liabilities, known as price risk. The Company is
exposed to interest rate risk primarily relating to its credit facilities that bear interest fluctuating with LIBOR. The
credit facilities have a LIBOR floor of 1.5% & 2.0% for Credit Facility – Liquid and Credit Facility –
Other, respectively. As at December 31, 2018, LIBOR is 2.50% (December 31, 2017 – 1.56%; December 31, 2016 –
0.77%). A 0.50 basis point increase in LIBOR would increase annual credit facility interest expense by $428.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The
debentures and convertible debentures have fixed rates of interest and are not subject to interest rate risk.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b><i>Other
price risk</i></b></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Other
price risk is the risk that changes in market prices, including commodity or equity prices, will have an effect on future
cash flows associated with financial instruments. The cash flows associated with financial instruments of the Company
are not exposed to other price risk.</font></p></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>
<p style="margin: 0pt"></p>
<table cellspacing="0" cellpadding="0" style="width: 100%">
<tr style="vertical-align: top">
<td style="width: 4%; font: 11pt/107% Calibri, Helvetica, Sans-Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">(a)</font></td>
<td style="font: 11pt/107% Calibri, Helvetica, Sans-Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Share
capital</font></td></tr>
<tr>
<td style="font: 11pt/107% Calibri, Helvetica, Sans-Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 11pt/107% Calibri, Helvetica, Sans-Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr>
<td style="font: 11pt/107% Calibri, Helvetica, Sans-Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The
Company’s authorized share capital is comprised of an unlimited number of common shares and an unlimited number
of preferred shares issuable in one or more series, the latter of which was approved by the Company’s shareholders
on September 15, 2017. The Board is authorized to determine the rights and privileges and number of shares of each series.</font></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">As
at December 31, 2018, there are 23,226,846 common shares and no preferred shares issued and outstanding.</font></p></td></tr>
</table>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<table cellspacing="0" cellpadding="0" style="width: 100%">
<tr style="vertical-align: top">
<td style="width: 4%; font: 11pt/107% Calibri, Helvetica, Sans-Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">(b)</font></td>
<td style="font: 11pt/107% Calibri, Helvetica, Sans-Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Options</font></td></tr>
<tr>
<td style="font: 11pt/107% Calibri, Helvetica, Sans-Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="font: 11pt/107% Calibri, Helvetica, Sans-Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr>
<td style="font: 11pt/107% Calibri, Helvetica, Sans-Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The
Company has a stock option plan (the “Plan”) that provides for the granting of options to directors, officers,
employees and consultants. On June 18, 2018, the Company’s shareholders approved an amendment to increase the maximum
number of common shares reserved for issuance under the Plan to the greater of i) 15% of the number of common shares issued
and outstanding of the Company and ii) 3,800,000. The exercise price of an option is set at the time that such option
is granted under the Plan.</font></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Each
option converts into one common share of the Company upon exercise. No amounts are paid or payable by the recipient on
receipt of the option. The options carry neither rights to dividends nor voting rights. Options may be exercised at any
time from the date of vesting to the date of expiry, based on a maximum term of eight years.</font></p></td></tr>
</table>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">  </font></p>
<table cellspacing="0" cellpadding="0" style="width: 100%">
<tr>
<td style="font: 11pt/107% Calibri, Helvetica, Sans-Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">A
summary of the status of the stock options and changes in the period is as follows:</font></td></tr>
</table>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">  </font></p>
<table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid"><p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Options
</b></font></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Outstanding
</b></font></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>(000s)</b></font></p></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid"><p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Weighted
</b></font></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Average
</b></font></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Grant
Date </b></font></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Fair
Value $</b></font></p></td>
<td style="text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>Weighted</b><br />
<b>Average</b><br />
<b>Exercise</b><br />
<b>Price $</b></font></td>
<td style="text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid"><p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Options
</b></font></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Exercisable
</b></font></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>(000s)</b></font></p></td>
<td style="text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>Weighted</b><br />
<b>Average</b><br />
<b>Exercise</b><br />
<b>Price $</b></font></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">As
at December 31, 2015</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>1,506</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>5.17</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>567</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>2.44</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Options
granted</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">1,127</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">0.63</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">1.89</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Exercised</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">(118</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">2.10</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Forfeited</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">(213</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">3.56</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">As
at December 31, 2016</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>2,302</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>3.50</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>767</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>4.01</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Options
granted</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">984</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">1.87</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">4.60</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Exercised</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">(62</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">2.39</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Forfeited</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">(125</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">5.67</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">As
at December 31, 2017</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>3,099</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>3.80</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>1,529</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>3.85</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Options
granted</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">468</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">1.26</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">4.13</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Exercised</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">(156</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">1.99</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Forfeited</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">(303</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">4.38</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">As
at December 31, 2018</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>3,108</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>3.88</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>1,965</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>3.80</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%">
<tr style="vertical-align: top">
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">The
above noted options have expiry dates ranging from November 2021 to November 2026.</font></td></tr>
<tr>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">The
fair value of each option granted was estimated using the Black-Scholes option pricing model with the following assumptions
for the years ended December 31, 2018, 2017 and 2016:</font></td></tr>
</table>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>2018</b></font></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>2017</b></font></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>2016</b></font></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Risk-free
interest rate</font></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">2.07
– 2.47</font></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">1.08
– 1.90</font></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">0.53
– 1.35</font></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Expected
life</font></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">5
years</font></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">5
years</font></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">5
years</font></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Expected
volatility in market price of shares</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">50</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">50</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">40-50</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">% </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Expected
dividend yield</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">0</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">0</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">0</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Expected
forfeiture rate</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">15</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">15</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">15</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td></tr>
</table>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%">
<tr style="vertical-align: top">
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">These
options generally vest either immediately or monthly over a three to four year period after an initial one year cliff. Volatility
is estimated using historical data of comparable publicly traded companies operating in a similar segment.</font></td></tr>
<tr>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Total
share based compensation costs related to options and RSUs for the year ended December 31, 2018 were $1,320 (2017 - $1,343;
2016 – $1,067).</font></td></tr>
</table>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 4%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">(c)</font></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Restricted
share units</font></td></tr>
<tr>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">RSUs
are granted to executives and other key employees. The fair value of an RSU at the grant date is equal to the market value
of one of the Company’s common shares. Executives and other key employees are granted a specific number of RSUs
for a given performance period based on their position and level of contribution. RSUs vest fully after three years of
continuous employment from the date of grant and, in certain cases, if performance objectives are met as determined by
the Board of Directors. On June 18, 2018, the Company’s shareholders approved an amendment to increase the maximum
number of shares which may be made subject to issuance under RSUs awarded under the RSU Plan to 500,000.</font></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">A
summary of the outstanding RSUs and changes in the period is as follows:</font></p></td></tr>
</table>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>Number
of RSUs (000s)</b></font></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>Outstanding,
December 31, 2015</b></font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>100</b></font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Granted</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">73</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Expired</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">(28</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>Outstanding,
December 31, 2016</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>145</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Granted</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">71</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Converted</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">(41</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Expired</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">(30</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>Outstanding,
December 31, 2017</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>145</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Granted</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">164</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Converted</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">(30</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Expired</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">(33</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; border-bottom: black 1pt solid; text-align: justify; line-height: 107%; text-indent: 0.65pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>Outstanding,
December 31, 2018</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>246</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 4%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">(d)</font></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Warrants</font></td></tr>
</table>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">    </font></p>
<table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>Warrants
Outstanding (000s)</b></font></td>
<td style="text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid"><p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Weighted
Average Grant Date Fair </b></font></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Value
$</b></font></p></td>
<td style="text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid"><p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Weighted
Average Exercise </b></font></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Price
$</b></font></p></td>
<td style="text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>Warrants
Exercisable (000s)</b></font></td>
<td style="text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid"><p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Weighted
Average Exercise </b></font></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Price
$</b></font></p></td>
<td style="text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>As
at December 31, 2015</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>182</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>4.89</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>182</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>4.89</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>Warrants
granted</b></font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">1,696</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">1.23</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">2.69</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>As
at December 31, 2016</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>1,878</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>2.90</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>881</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>2.84</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Warrants
expired</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">(99</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">0.90</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">7.35</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>As
at December 31, 2017</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>1,779</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>2.66</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>783</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>2.28</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>As
at December 31, 2018</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>1,779</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>2.66</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>982</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>2.42</b></font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%">
<tr>
<td><p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The
1,779,453 warrants noted above have expiry dates ranging from January 2021 to September 2025.</font></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">There
are 583,333 warrants outstanding to Drawbridge Special Opportunities Fund LP, an affiliate of Fortress Credit Co LLC,
that contain a net equity settlement option based on share prices on the open market at the time of exercise, and the
exercise price attached to the outstanding warrants. These warrants are treated as a derivative financial liability subject
to re-measurement at each reporting period end, and the fair value movement during the period is recognized in the consolidated
statement of comprehensive loss.</font></p></td></tr>
</table>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%">
<tr>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">The
fair value of the warrants outstanding was estimated using the Black-Scholes option pricing model with the following assumptions
for the year ended December 31, 2018, 2017 and 2016:</font></td></tr>
</table>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b> </b></font></p>
<table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>2018</b></font></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>2017</b></font></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"><b>2016</b></font></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Risk-free
interest rate</font></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="text-align: right; line-height: 107%; text-indent: 6.85pt"><font style="font: 10pt Times New Roman, Times, Serif">1.88
- 2.49</font></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="text-align: right; line-height: 107%; text-indent: 6.85pt"><font style="font: 10pt Times New Roman, Times, Serif">0.64
- 2.10</font></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="text-align: right; line-height: 107%; text-indent: 6.85pt"><font style="font: 10pt Times New Roman, Times, Serif">0.64
- 1.58</font></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Expected
life</font></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="text-align: right; line-height: 107%; text-indent: 6.85pt"><font style="font: 10pt Times New Roman, Times, Serif">2-8
years</font></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="text-align: right; line-height: 107%; text-indent: 6.85pt"><font style="font: 10pt Times New Roman, Times, Serif">2-10
years</font></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="text-align: right; line-height: 107%; text-indent: 6.85pt"><font style="font: 10pt Times New Roman, Times, Serif">2-10
years</font></td>
<td style="text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Expected
volatility in market price of shares</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">50</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="text-align: right; line-height: 107%; text-indent: 6.85pt"><font style="font: 10pt Times New Roman, Times, Serif">50
- 55</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="text-align: right; line-height: 107%; text-indent: 6.85pt"><font style="font: 10pt Times New Roman, Times, Serif">50
- 55</font></td>
<td style="vertical-align: bottom; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Expected
dividend yield</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">0</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">0</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">0</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">Expected
forfeiture rate</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">0</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">0</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">0</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify; line-height: 107%"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td></tr>
</table>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">  </font></p>
<table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%">
<tr>
<td><p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">On
January 25, 2016, in connection with the original Postmedia Agreement, Mogo issued Postmedia five year warrants to acquire
1,196,120 common shares of Mogo at an exercise price of $2.96. 50% of the warrants were to vest in equal instalments over
three years while the remaining 50% (the “Performance Warrants”) were to vest based on Mogo achieving certain
quarterly revenue targets.</font></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">During
April 2018, the Postmedia Agreement was extended for an additional two years beyond the end of the current agreement,
as described in Note 6. In connection with this amendment, Postmedia and Mogo agreed to change the vesting and term of
the 598,060 Performance Warrants so that i) they vest equally over the remaining two years of the collaboration (50% in
January 2020 and 50% in January 2021); and ii) their term is extended an additional two years, now expiring January 2023.</font></p></td></tr>
</table>
<p style="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>
<table cellspacing="0" cellpadding="0" style="width: 100%">
<tr>
<td style="width: 100%; font: 12pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Details
of changes in financing activities for the year ended December 31, 2018 are as follows: </font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b> </b></font></p>
<table cellspacing="0" cellpadding="0" style="border-top: black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" id="hdcell" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="10" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Non-cash
changes</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>January
1, </b></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>2018</b></font></p></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Cash
flows</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Conversion</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Foreign
exchange</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Fair
Value/ Amortization</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>December 31,
2018</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Share
capital</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td id="ffcell" style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">71,389</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">311</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,345</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>75,045</b></font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Credit
facility</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">57,110</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">18,414</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">410</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>75,934</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Debentures</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">39,680</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,410</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">535</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>41,625</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Convertible
debentures</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">12,864</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(1,735</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">652</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>11,781</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Derivative
financial liability</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,697</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(1,733</font></td>
<td style="vertical-align: bottom; padding-bottom: 0.75pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>964</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Total</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>183,740</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>20,135</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>1,610</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>535</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>(671</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>)</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>205,349</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Details of changes
in financing activities for the year ended December 31, 2017 are as follows:</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<table cellspacing="0" cellpadding="0" style="border-top: black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="10" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Non-cash
changes</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>January
1, </b></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>2017</b></font></p></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Cash
flows</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Conversion</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Foreign
exchange</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Fair
Value/ Amortization</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>December 31,
2017</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Share
capital</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">45,655</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">24,397</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,337</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>71,389</b></font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Credit
facility</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">45,943</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">10,642</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">525</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>57,110</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Debentures</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">40,092</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">5</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(417</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>39,680</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Convertible
debentures</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">12,460</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">404</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>12,864</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Derivative
financial liability</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">490</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,207</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>2,697</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Total</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>132,180</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>47,504</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>1,337</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>(417</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>)</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>3,136</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>183,740</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
false
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Revenue
is comprised of subscription and services, interest revenue and loan fees from our legacy short-term loan products, which were
phased out in the third quarter of 2018. The Company recognizes interest revenue, loan fees, nonsufficient funds fees, and any
other fees or charges permitted by applicable laws and pursuant to the agreement with the borrower. We record revenue on a net
basis for those sales in which we have in substance acted as an agent or broker in the transaction.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Subscription
and services is comprised of MogoProtect subscriptions, MogoCard revenue, MogoMortgage brokerage commissions, premium account
revenues, loan protection premiums, MogoCrypto revenue, Bitcoin mining revenue, and other fees and charges. Subscription and services
revenue is recognized when the underlying transactions have been completed or services are rendered and collection is reasonably
assured. In 2018, the Company, through a third-party hosting agreement, joined a Bitcoin mining pool that provides transaction
verification services on the Bitcoin network. The Company receives Bitcoin as compensation for these services, which are recognized
as revenue and measured at fair value according to the spot price at the time they were mined. Bitcoin is considered earned upon
the addition of a block to the Bitcoin blockchain at which time the economic benefit is received and can be reliably measured.
Management has exercised judgement in determining this accounting treatment for the recognition of revenue from Bitcoin mining,
as there is no definitive guidance in IFRS for the accounting of digital currency mining activities.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Interest
revenue represents interest on our long-term loan products. Our long-term loans fall into two categories: line of credit accounts
and installment loans. For line of credit accounts, interest is recognized during the period based upon the balance outstanding
and the contractual interest rate, and fees are recognized when assessed to the customer. For installment loans, revenue is recognized
on an effective interest basis over the term of the loan and fees are recognized when assessed to the customer.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">For legacy
short-term loans that the Company offered, loan fees were recognized when assessed to the customer</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Cost
of revenue consists of provision for loan losses and transaction costs. Transaction costs are expenses that relate directly to
the acquisition and processing of new customers (excluding marketing) and include expenses such as credit scoring fees, loan system
transaction fees, insurance commission expense, and certain fees related to the MogoCard and MogoProtect programs.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Loans
receivable consist of unsecured installment loans and lines of credit. The Company phased out its legacy short-term loan products
from its business in the third quarter of 2018. Loans receivable are reported net of an allowance for loan losses. The Company
maintains an allowance for loan losses that reduces the carrying value of loans identified as impaired to their estimated realizable
amounts.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Financial
assets and liabilities are recognized when the Company becomes a party to the contractual provisions of the instrument. Financial
assets are derecognized when the rights to receive cash flows from the assets have expired or have been transferred, and the Company
has transferred substantially all risks and rewards of ownership. Financial liabilities are derecognized when the obligation specified
in the contract is discharged, cancelled or expires.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">At
initial recognition, financial assets are classified as measured at amortized cost, at fair value through profit or loss (“FVTPL”),
or at fair value through other comprehensive income. IFRS 9, Financial Instruments, removes the previous IAS 39 classifications
of loans and receivables, held to maturity, and available for sale.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The
Company measures financial assets at amortized cost if the financial asset is held within a “hold to collect” business
model, and if the contractual cash flows associated with the financial asset are solely payments of principal and interest on
the principal amount outstanding. Financial assets fall with a “hold to collect” business model when the Company’s
primary objective is to collect contractual cash flows on the assets rather than selling them.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Loans receivable are classified
as amortized cost. They are initially recognized at fair value, and subsequently measured at amortized cost using the effective
interest method, less any allowance for loan losses.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Expected
credit loss model</u></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The
expected credit loss (“ECL”) model is a three-stage impairment approach used to measure the allowance for loan losses
on all financial assets at each reporting period date. Loans are classified under one of three stages based on changes in credit
quality since initial recognition. Stage 1 loans consist of performing loans that have not had a significant increase in credit
risk since initial recognition. Loans that have experienced a significant increase in credit risk since initial recognition are
classified as Stage 2, and loans considered to be credit-impaired are classified as Stage 3. The Company routinely refinances
its existing customers, and accordingly, does not consider a modification to be an indicator of increased credit risk. The allowance
for loan losses on both Stage 2 and Stage 3 loans is measured at lifetime ECLs. The allowance for loan losses on Stage 1 loans
is measured at an amount equal to 12-month ECLs, representing the portion of lifetime ECLs expected to result from default events
possible within 12 months of the reporting date.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Assessment
of significant increase in credit risk</u></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Significant
increases in credit risk are assessed based on changes in probability of default of a financial asset subsequent to initial recognition.
The Company uses past due information to determine whether credit risk has increased significantly since initial recognition.
Financial assets are considered to have experienced a significant increase in credit risk and are reclassified to Stage 2 if a
contractual payment is more than 30 days past due as at the reporting date.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The
Company defines default as the earlier of when a contractual loan payment is more than 90 days past due or when a loan becomes
insolvent as a result of customer bankruptcy. Loans that have experienced a default event are considered to be credit-impaired
and are reclassified as Stage 3 loans.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Measurement
of expected credit losses</u></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">ECLs
are measured as the calculated expected value of cash shortfalls over the remaining life of a financial instrument, using a probability-weighted
approach that reflects reasonable and supportable information about past events, current conditions and forward looking indicators
such as forecasts of future events and macroeconomic conditions. The measurement of ECLs primarily involves using this information
to determine both the expected probability of a default event occurring and expected losses resulting from such default events.
Loans are grouped according to product type, customer tenure and aging for the purpose of assessing ECLs. Scenarios and probability
weights are re-assessed quarterly and subject to management review.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The
Company has elected not to restate comparative information for prior periods with respect to classification and measurement (including
impairment) requirements. Therefore, comparative periods have not been restated. Differences in the carrying amounts of financial
assets and financial liabilities resulting from the adoption of IFRS 9 were recognized in retained earnings as at 1 January 2018.
Accordingly, the information presented for 2017 does not generally reflect the requirements of IFRS 9, but rather those of IAS
39.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The following table summarizes
the classifications and carrying amounts of the Company’s financial instruments as previously established under IAS 39 as
at December 31, 2017, and the new IFRS 9 classifications and carrying amounts established as at January 1, 2018.</font></p>
<p style="margin: 0"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="margin: 0"></p>
<table cellspacing="0" cellpadding="0" style="border-top: black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td id="hdcell" style="border-bottom: black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Original
classification </b></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>under
IAS 39</b></font></p></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>New
classification </b></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>under
IFRS 9</b></font></p></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Original
carrying amount, IAS 39</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>New
carrying amount, IFRS 9</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Cash</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="width: 18%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">Loans
and receivables</font></td>
<td style="vertical-align: bottom; width: 2%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="width: 14%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">Amortized
cost</font></td>
<td style="vertical-align: bottom; width: 2%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td id="ffcell" style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">40,560</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">40,560</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Loans
receivable, net</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">Loans and receivables</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">Amortized cost</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">73,460</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">68,325</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Accounts
payable and accruals</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">Amortized cost</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">Amortized cost</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">7,468</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">7,468</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Credit
facilities</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">Amortized cost</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">Amortized cost</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">57,110</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">57,110</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Debentures</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">Amortized cost</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">Amortized cost</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">39,680</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">39,680</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Convertible
debentures</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">Amortized cost</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">Amortized cost</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">12,864</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">12,864</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Derivative
financial liabilities</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">FVTPL</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">FVTPL</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,697</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,697</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<p style="margin: 0"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="margin: 0"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Financial
assets reclassified from loans and receivables under IAS 39 to amortized cost under IFRS 9 were previously also subject to the
amortized cost measurement method under IAS 39. The following table summarizes the transition adjustment required upon adoption
of IFRS 9 as at January 1, 2018:</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; font-size-adjust: none; font-stretch: normal">
<tr>
<td style="border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="5" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>As
at January 1, 2018</b></font></td>
<td style="border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Original
carrying amount, IAS 39</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Transition
Adjustment<sup>(1)</sup></b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>New
carrying amount, IFRS 9</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Gross
loans receivable</b></font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">80,894</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">80,894</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Allowance
for loan losses</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(7,434</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(5,135</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(12,569</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Loans
receivable, net</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>73,460</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>(5,135</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>)</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>68,325</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Deficit</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>(63,627</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>)</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>(5,135</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>)</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>(68,762</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>)</b></font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Loss
per share</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>(1.07</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>)</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>(0.28</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>)</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>(1.35</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>)</b></font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b> </b></font></p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; font-size-adjust: none; font-stretch: normal">
<tr>
<td style="vertical-align: top; width: 4%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">(1)</font></td>
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Re-measurement
of the allowance for loan losses relates to the application of the ECL impairment methodology effective upon transition to
IFRS 9. Under IFRS 9, credit losses are recognized earlier than under IAS 39, since it replaces the “incurred loss”
model in IAS 39 with “ECL” model. This adjustment was recorded to the opening deficit as at January 1, 2018. </font></td></tr>
</table>
<p style="margin: 0"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="margin: 0"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Accounts
payable and accruals, deferred revenue, credit facilities, debentures, and convertible debentures are classified as “other
financial liabilities” and are initially recorded at fair value, net of any transaction costs incurred. Subsequently, these
items are measured at amortized cost using the effective interest method.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Derivative
financial liabilities are classified as “financial liabilities at fair value through profit or loss” and are initially
and subsequently measured at fair value. The subsequent changes in fair value are recorded as a gain or loss in the consolidated
statements of comprehensive loss.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The
Company has also adopted consequential amendments to IFRS 7 Financial Instruments: Disclosures that are applied to disclosures
about 2018 but have not been generally applied to comparative information.</font></p>
<p style="margin: 0"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">All
property and equipment are measured at cost less accumulated depreciation and impairment losses. Cost includes expenditures that
are directly attributable to the acquisition of the asset. When parts of an item of property and equipment have different useful
lives, they are accounted for as separate items of property and equipment.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">All
assets having limited useful lives are depreciated using the declining balance method at rates intended to depreciate the cost
of assets over their estimated useful lives except leasehold improvements, which are depreciated over the term of lease.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The depreciation rate for each
class of asset during the current and comparative period are as follows:</font></p>
<p style="margin: 0"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>
<table cellspacing="0" cellpadding="0" style="border-top: black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" id="hdcell" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Rate</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Computer
equipment </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td id="ffcell" style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">30</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Computer
equipment – Bitcoin rigs</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">75</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Furniture
and fixtures </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">20</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Leasehold
improvements </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">Term
of lease </font></td>
<td style="border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The
useful lives of items of property and equipment are reviewed periodically and the useful life is altered if estimates have changed
significantly.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>
<p style="margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Intangible assets are stated at
cost less accumulated amortization and impairment losses. Intangible assets include both internally generated and acquired software
with finite useful lives. Internally generated software costs primarily consist of salaries and payroll-related costs for employees
directly involved in the development efforts and fees paid to outside consultants. Amortization is recorded at rates intended
to amortize the cost of the intangible assets over their estimated useful lives as follows:</font></p>
<p style="margin: 0"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="margin: 0"></p>
<table cellspacing="0" cellpadding="0" style="border-top: black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="background-color: #CCEEFF">
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 20%; border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Rate</b></font></td>
<td style="width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Software
- Internally generated</font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">5
years straight line </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Software
- Acquired</font></td>
<td style="border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">30%
declining balance </font></td>
<td style="border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<p style="margin: 0"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> Development costs, including
those related to the development of software, are recognized as an intangible asset when the Company can demonstrate:</font></p>
<p style="margin: 0"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="margin: 0"></p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr>
<td style="width: 4%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: top; width: 4%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">·</font></td>
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">the
technical feasibility of completing the intangible asset so that it will be available for use or sale;</font></td></tr>
<tr>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">·</font></td>
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">its
intention to complete and its ability to use or sell the asset;</font></td></tr>
<tr>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">·</font></td>
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">how
the asset will generate future economic benefits;</font></td></tr>
<tr>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">·</font></td>
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">the
availability of resources to complete the asset; and</font></td></tr>
<tr>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">·</font></td>
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">the
ability to measure reliably the expenditure during development.</font></td></tr>
</table>
<p style="margin: 0"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="margin: 0"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Following
initial recognition of the development expenditure as an asset, the cost model is applied requiring the asset to be carried at
cost less any accumulated amortization and accumulated impairment losses. Amortization of the asset begins when development is
complete and the asset is available for use. During the period of development, the asset is tested for impairment annually.</font></p>
<p style="margin: 0"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">At
the end of each reporting period, the Company reviews the carrying amounts of its tangible and intangible assets to determine
whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable
amount of the asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to
estimate the recoverable amount of an individual asset, the Company estimates the recoverable amount of the cash-generating units
(“CGU”) to which the asset belongs. Where a reasonable and consistent basis of allocation can be identified, corporate
assets are also allocated to individual CGU’s, or otherwise they are allocated to the smallest group of CGU’s for
which a reasonable and consistent allocation basis can be identified. The Company has identified its intangible asset, the digital
platform, as one CGU for the purpose of assessing impairment as synergies are realized between its digital products such that
the products cannot be considered in insolation. Intangible assets with indefinite useful lives and intangible assets not yet
available for use are tested for impairment at least annually, and whenever there is an indication that the asset may be impaired.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The
recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future
cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the
time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">If
the recoverable amount of an asset or CGU is estimated to be less than its carrying amount, the carrying amount of the asset or
CGU is reduced to its recoverable amount. An impairment loss is recognized immediately in the consolidated statements of comprehensive
loss.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Where
an impairment loss subsequently reverses, the carrying amount of the asset or CGU is increased to the revised estimate of its
recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined
had no impairment loss been recognized for the asset or CGU in prior years. A reversal of an impairment loss is recognized immediately
in the consolidated statements of comprehensive loss.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Transactions
in foreign currencies are initially recorded at the foreign currency rate prevailing at the date of the transaction. Monetary
assets and liabilities denominated in foreign currencies are translated into the functional currency of the Company at the rates
prevailing on the balance sheet date. For the purpose of presenting consolidated financial statements, the assets and liabilities
of foreign operations with a functional currency other than Canadian dollars are translated into Canadian dollars using exchange
rates prevailing as at the balance sheet date.</font></p>
<p style="margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Leases which do not transfer to
the Company substantially all the risks and benefits incidental to ownership of the leased item are classified as operating leases.
Leases entered into by the Company are solely operating leases, with costs recognized within general and administration expenses
in the consolidated statements of comprehensive loss in the period incurred.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Income
tax expense is comprised of current and deferred tax. Current tax is the expected tax payable or receivable on the taxable income
or loss for the period, using tax rates enacted or substantively enacted at the reporting date, and any adjustment to tax payable
in respect of previous years.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Deferred
tax is recognized in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting
purposes and the amounts used for taxation purposes. Deferred tax is measured at the tax rates that are expected to be applied
to temporary differences when they reverse, based on the laws that have been enacted or substantively enacted by the reporting
date.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Deferred
tax assets are recognized to the extent that it is probable that future taxable profit will be available against which the temporary
differences can be utilized.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The
benefits of investment tax credits for scientific research and development expenditures are recognized in the year the qualifying
expenditure is made, providing there is reasonable assurance of recovery.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Provisions
are recognized when the Company has a present legal or constructive obligation that is the result of a past event, when it is
probable that the Company will be required to settle the obligation, and a reliable estimate of the amount of the obligation can
be made. If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects
the risk specific to the obligation.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The
computation of earnings per share is based on the weighted average number of shares outstanding during the period. Diluted earnings
per share are computed in a similar way to basic earnings per share except that the weighted average shares outstanding are increased
to include additional shares assuming the exercise of share options or warrants, or conversion of convertible debentures, if dilutive.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The
Company measures equity settled stock options granted based on their fair value at the grant date and recognizes compensation
expense over the vesting period. Measurement inputs include the Company’s share price on the measurement date, the exercise
price of the option or warrant, the expected volatility of the Company’s shares, the expected life of the options or warrants,
and the risk-free rate of return. Dividends are not factored in as the Company does not expect to pay dividends in the foreseeable
future. Expected forfeitures are estimated at the date of grant and subsequently adjusted if further information indicates actual
forfeitures may vary from the original estimate.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Share-based
payment arrangements in which the Company receives goods or services as consideration for its own equity instruments are accounted
for as equity-settled share-based payments transactions. In situations where equity instruments are issued and some or all of
the goods or services received by the entity as consideration cannot be specifically identified, they are measured at fair value
of the share-based payment.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">For
each restricted share unit (“RSU”) granted, compensation expense is recognized equal to the market value of one common
share at the date of grant based on the number of RSUs expected to vest, recognized over the term of the vesting period, with
a corresponding credit to contributed surplus.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The
preparation of the consolidated financial statements requires management to make estimates, assumptions and judgments that affect
the reported amount of assets and liabilities, and the reported amount of revenues and expenses during the year. Actual results
may differ from these estimates.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Estimates, assumptions, and judgments
are reviewed on an ongoing basis. Revisions to accounting estimates are recognized on a prospective basis beginning from the period
in which they are revised.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The
following are the critical judgements, apart from those involving estimations that have been made in the process of applying the
Company’s accounting policies, which have the most significant effect on the amounts recognized in the consolidated financial
statements.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">In
applying its accounting policy for costs incurred during the development phase for new software, the Company must determine whether
the criteria for capitalization have been met. The most difficult and subjective estimate is whether a project will generate probable
future economic benefits. Management considers all appropriate facts and circumstances in making this assessment including historical
experience, costs and anticipated future economic conditions.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">These
estimates and assumptions are based on management’s historical experience, best knowledge of current events, conditions
and actions that the Company may undertake in the future and other factors that management believes are reasonable under the circumstances.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">These
estimates and assumptions are reviewed periodically, and the effect of a change in accounting estimate or assumption is recognized
prospectively by including it in the consolidated statement of comprehensive loss in the period of the change and in any future
periods affected.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The
areas where estimates and assumptions have the most significant effect on the amounts recognized in the consolidated financial
statements include the following:</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Estimated
useful lives of property and equipment and intangible assets are based on management’s judgment and experience.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">When
management identifies that the actual useful lives for these assets differ materially from the estimates used to calculate depreciation
and amortization, that change is adjusted prospectively. Due to the significant investment in intangible assets by the Company,
variations between actual and estimated useful lives could impact operating results both positively and negatively. Asset lives,
depreciation and amortization methods, and residual values are reviewed periodically.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The
Company periodically assesses the recoverability of values assigned to long-lived assets after considering potential impairment
indicated by such factors as significant changes in technological, market, economic or legal environment, business and market
trends, future prospects, current market value and other economic factors. In performing its review of recoverability, management
estimates either the value in use or fair value less costs to sell.</font></p>
<p style="margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Our provision for loan losses consists
of amounts charged to the consolidated statement of comprehensive loss during the period to maintain an adequate allowance for
loan losses. Our allowance for loan losses represents our estimate of the expected credit losses inherent in our existing loan
portfolio and is based on a variety of factors, including the composition and quality of the portfolio, loan-specific information
gathered through our collection efforts, delinquency levels, our historical charge-off and loss experience, our expectations of
future loan performance, and general forward-looking macroeconomic conditions. The methodology and assumptions used in setting
the loan loss allowance are reviewed regularly to reduce any difference between loss estimates and actual loss experience.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The
Company uses the Black-Scholes valuation model to determine the fair value of equity-settled stock options. Management exercises
judgment in determining certain inputs to this model including the expected life of the options, expected volatility and forfeiture
rates, and expected dividend yield. Variation in actual results for any of these inputs will result in a different fair value
of the stock option as compared to the original estimate.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Provisions
for income taxes are made using the best estimate of the amount expected to be paid based on a qualitative assessment of all relevant
factors. The Company reviews the adequacy of these provisions at the end of the reporting period. However, it is possible that
at some future date an additional liability could result from audits by tax authorities. Where the final outcome of these tax-related
matters is different from the amounts that were initially recorded, such differences will affect the tax provisions in the period
in which such determination is made.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Warrants
issued with a cashless exercise option are recorded at fair value, and classified as a derivative financial liability at initial
recognition. Subsequent changes in fair value recorded as a gain or loss in the consolidated statements of comprehensive loss.
As the warrants are exercised, the value of the recorded liability will be included in share capital along with the proceeds from
the exercise. If these warrants expire, the related liability is reversed through the consolidated statements of comprehensive
loss.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">We
adopted the following new accounting standards and amendments, which are effective for our interim and annual consolidated financial
statements commencing January 1, 2018.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><i>IFRS
9, Financial Instruments</i></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">On
January 1, 2018, the Company adopted IFRS 9, <i>Financial Instruments</i>, which replaces IAS 39, Financial Instruments: <i>Recognition
and Measurement</i>. This standard establishes new measurement categories for classifying financial assets, and new guidance in
relation to impairment and hedge accounting. The new hedge accounting requirements have no material impact on the Company’s
consolidated financial statements.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">IFRS
9 is effective for annual periods beginning on or after January 1, 2018. As permitted by the standard, the Company has chosen
not to restate comparative consolidated financial statements. Refer to “Summary of IFRS 9 adoption impact” earlier
within Note 3 to these consolidated financial statements for further discussion.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><i>IFRS
15, Revenue from Contacts with Customers</i></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">On January 1, 2018, the Company
adopted IFRS 15 – <i>Revenue from Contracts with Customers</i>. The new standard includes a five-step recognition and measurement
approach for revenue arising from contracts with customers, and includes new requirements for accounting for contract costs. Revenues
arising from financial instruments within the scope of <i>IFRS 9 – Financial Instruments</i>, specifically interest revenue
and loan fees, are excluded from the scope of IFRS 15. All other revenue streams are included within the scope of IFRS 15.</font></p>
<p style="margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="margin: 0; text-align: justify"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">IFRS
15 is effective for annual periods beginning on or after January 1, 2018, and supersedes IAS 11, Construction Contracts, and IAS
18, Revenue, as well as various International Financial Reporting Interpretative Committee (<i>“</i>IFRIC<i>”</i>)
and Standards Interpretations Committee (<i>“</i>SIC<i>”</i>) interpretations regarding revenue. The adoption of this
standard did not have any significant impact on the Company’s consolidated financial statements.</font> </p>
<table cellspacing="0" cellpadding="0" style="border-top: black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td id="hdcell" style="border-bottom: black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Original
classification </b></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>under
IAS 39</b></font></p></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>New
classification </b></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>under
IFRS 9</b></font></p></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Original
carrying amount, IAS 39</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>New
carrying amount, IFRS 9</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Cash</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="width: 18%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">Loans
and receivables</font></td>
<td style="vertical-align: bottom; width: 2%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="width: 14%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">Amortized
cost</font></td>
<td style="vertical-align: bottom; width: 2%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td id="ffcell" style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">40,560</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">40,560</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Loans
receivable, net</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">Loans and receivables</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">Amortized cost</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">73,460</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">68,325</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Accounts
payable and accruals</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">Amortized cost</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">Amortized cost</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">7,468</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">7,468</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Credit
facilities</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">Amortized cost</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">Amortized cost</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">57,110</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">57,110</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Debentures</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">Amortized cost</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">Amortized cost</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">39,680</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">39,680</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Convertible
debentures</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">Amortized cost</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">Amortized cost</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">12,864</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">12,864</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Derivative
financial liabilities</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">FVTPL</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">FVTPL</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,697</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,697</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr>
<td style="border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="5" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>As
at January 1, 2018</b></font></td>
<td style="border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" id="hdcell" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Original
carrying amount, IAS 39</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Transition
Adjustment<sup>(1)</sup></b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>New
carrying amount, IFRS 9</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Gross
loans receivable</b></font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td id="ffcell" style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">80,894</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">80,894</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Allowance
for loan losses</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(7,434</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(5,135</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(12,569</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Loans
receivable, net</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>73,460</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>(5,135</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>)</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>68,325</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Deficit</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>(63,627</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>)</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>(5,135</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>)</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>(68,762</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>)</b></font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Loss
per share</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>(1.07</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>)</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>(0.28</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>)</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>(1.35</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>)</b></font></td></tr>
</table>
<table cellspacing="0" cellpadding="0" style="border-top: black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" id="hdcell" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Rate</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Computer
equipment </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td id="ffcell" style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">30</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Computer
equipment – Bitcoin rigs</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">75</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Furniture
and fixtures </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">20</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Leasehold
improvements </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">Term
of lease </font></td>
<td style="border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<table cellspacing="0" cellpadding="0" style="border-top: black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="background-color: #CCEEFF">
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 20%; border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Rate</b></font></td>
<td style="width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Software
- Internally generated</font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">5
years straight line </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Software
- Acquired</font></td>
<td style="border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">30%
declining balance </font></td>
<td style="border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<table cellspacing="0" cellpadding="0" style="border-top: black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" id="hdcell" style="border-bottom: black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>December
31, </b></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>2018</b></font></p></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">December
31,</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2017</font></p></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Current</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td id="ffcell" style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>62,439</b></font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">46,977</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Non-Current</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>39,317</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">33,917</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>101,756</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">80,894</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<p style="margin: 0pt"></p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr>
<td colspan="16" style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>As
at December 31, 2018</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td style="border-top: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-top: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" id="hdcell" style="border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Stage
1</b></font></td>
<td style="border-top: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-top: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Stage
2</b></font></td>
<td style="border-top: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-top: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Stage
3</b></font></td>
<td style="border-top: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-top: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Total</b></font></td>
<td style="border-top: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Not
past due</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td id="ffcell" style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">88,035</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">99</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">88,134</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">1-30
days past due</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,097</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">257</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,354</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">31-60
days past due</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,838</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">491</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,329</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">61-90
days past due</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,240</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">469</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,709</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">91-180
days past due</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">6,230</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">6,230</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Gross
loans receivable</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">91,132</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,078</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">7,546</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">101,756</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Allowance
for loan losses</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(6,951</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(2,118</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(6,340</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(15,409</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Loans
receivable, net</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>84,181</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>960</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>1,206</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>86,347</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; font-size-adjust: none; font-stretch: normal">
<tr style="vertical-align: top">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The following table
presents the aging of loans as at December 31, 2017 and 2016 in accordance with IAS 39. In contrast to IFRS 9, these receivables
were aged on an individual payment basis rather than at the customer balance level:</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>  </b></font></p>
<table cellspacing="0" cellpadding="0" style="border-bottom: black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%; font-size-adjust: none; font-stretch: normal">
<tr>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="6" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>As
at December 31,</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="vertical-align: bottom">
<td style="border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Age
analysis of loans receivable</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>2017</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>2016</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Not
past due</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">73,965</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">61,648</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">1-30
days past due</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,546</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,338</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">31-60
days past due</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,296</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,205</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">61-90
days past due</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,183</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,223</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">91-180
days past due</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,904</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,772</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Gross
loans receivable</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">80,894</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">69,186</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Allowance
for loan losses</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(7,434</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(7,311</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Loans
receivable, net</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">73,460</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">61,875</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<p style="margin: 0pt"></p>
<p style="margin: 0pt"></p>
<table cellspacing="0" cellpadding="0" style="border-top: black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" id="hdcell" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt"><b>Stage 1</b></font></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt"><b>Stage 2</b></font></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt"><b>Stage 3</b></font></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt"><b>Total</b></font></td>
<td style="text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Balance as at January 1, 2018</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td id="ffcell" style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">6,853</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">1,579</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">4,137</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">12,569</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Gross loans originated</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">5,354</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">5,354</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Principal payments and net re-measurement of allowance</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(3,688</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(176</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">334</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(3,530</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Transfers to:</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; padding-left: 11.25pt; text-align: justify"><font style="font-size: 10pt">Stage 1 – 12 month ECLs</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">5</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(24</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(16</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(35</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; padding-left: 11.25pt; text-align: justify"><font style="font-size: 10pt">Stage 2 – Lifetime ECLs</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(270</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">2,116</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,846</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; padding-left: 11.25pt; text-align: justify"><font style="font-size: 10pt">Stage 3 – Lifetime ECLs</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(1,303</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(1,377</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">17,451</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">14,771</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Net amounts written off against allowance</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(15,566</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(15,566</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; border-bottom: black 1pt solid; text-align: justify"><font style="font-size: 10pt"><b>Balance as at December 31, 2018</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>6,951</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>2,118</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>6,340</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>15,409</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; font-size-adjust: none; font-stretch: normal">
<tr style="vertical-align: top">
<td style="text-align: justify"><font style="font-size: 10pt">The overall changes in the allowance for loan losses are summarized below for December 31, 2018 and 2017:</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">  </p>
<table cellspacing="0" cellpadding="0" style="border-bottom: black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%; font-size-adjust: none; font-stretch: normal">
<tr style="vertical-align: bottom">
<td style="border-bottom: black 1pt solid; text-align: justify"><font style="font-size: 10pt"><b>Allowance for loan losses</b></font></td>
<td style="text-align: justify"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt"><b>2018</b></font></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt">2017</font></td>
<td style="text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Balance, beginning of period</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt"><b>7,434</b></font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">7,311</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">January 1, 2018 IFRS 9 adjustment</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>5,135</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Provision for loan losses</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>18,406</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">13,343</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Charge offs</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>(15,566</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt"><b>)</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(13,220</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Balance, end of period</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>15,409</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">7,434</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" id="hdcell" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>2018</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>2017</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Salary
and short term benefits</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td id="ffcell" style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>2,087</b></font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>3,281</b></font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Share
– based payments</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>489</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>632</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>2,576</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>3,913</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<table cellspacing="0" cellpadding="0" style="border-top: black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" id="hdcell" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Computer
equipment</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Furniture
and fixtures</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Leasehold
improvements</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Total</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr>
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Cost</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" id="ffcell" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Balance
at December 31, 2016</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,067</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,585</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,592</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">6,244</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Additions</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">271</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">30</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">65</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">366</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Disposals</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(1</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(115</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(148</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(264</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Balance
at December 31, 2017</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,337</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,500</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,509</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">6,346</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Additions</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,814</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,816</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Impairment</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(1,105</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(1,105</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Balance
at December 31, 2018</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>5,046</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>1,502</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>2,509</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>9,057</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Accumulated
depreciation</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Balance
at December 31, 2016</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,031</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">612</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">679</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,322</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Additions</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">357</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">168</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">457</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">982</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Disposals</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(1</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(32</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(131</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(164</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Balance
at December 31, 2017</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,387</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">748</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,005</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,140</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Additions</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,285</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">151</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">465</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,901</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Balance
at December 31, 2018</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>3,672</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>899</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>1,470</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>6,041</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Net
book value</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">At
December 31, 2017</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">950</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">752</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,504</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,206</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>At
December 31, 2018</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>1,374</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>603</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>1,039</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>3,016</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<table cellspacing="0" cellpadding="0" style="border-top: black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" id="hdcell" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Internally
generated – Completed</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Internally</b></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>generated
–</b></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>In
Process</b></font></p></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Vendor
</b></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Purchases</b></font></p></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Total</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr>
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Cost</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" id="ffcell" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Balance
at December 31, 2016</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">8,593</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">6,333</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,340</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">18,266</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Additions</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">5,143</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">11</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">5,154</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Transfers</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">7,935</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(7,935</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Balance
at December 31, 2017</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>16,528</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>3,541</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>3,351</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>23,420</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Additions</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">7,730</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">5</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">7,735</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Transfers</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">10,373</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(10,373</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Balance
at December 31, 2018</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>26,901</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>898</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>3,356</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>31,155</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Accumulated
depreciation</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Balance
at December 31, 2016</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,122</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,895</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">6,017</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Additions</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,369</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">137</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,506</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Balance
at December 31, 2017</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>5,491</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>3,032</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>8,523</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Additions</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,883</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">91</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,974</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Balance
at December 31, 2018</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>9,374</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>3,123</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>12,497</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Net
book value</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">At
December 31, 2017</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">11,037</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,541</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">319</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">14,897</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>At
December 31, 2018</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>17,527</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>898</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>233</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>18,658</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<p style="margin: 0pt"></p>
<table cellspacing="0" cellpadding="0" style="border-top: black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" id="hdcell" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt">Liability component of convertible debentures</font></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt">Equity component of convertible debentures</font></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" style="border-bottom: black 1pt solid">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><b>Net book value</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><b>2018</b></p></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" style="border-bottom: black 1pt solid">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">Net book value</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">2017</p></td>
<td style="text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Convertible debentures</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td id="ffcell" style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">11,973</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">939</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt"><b>12,912</b></font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">14,905</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top"><font style="font-size: 10pt">Transaction costs</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(1,248</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(98</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>(1,346</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt"><b>)</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(1,472</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top"><font style="font-size: 10pt">Net proceeds</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">10,725</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">841</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>11,566</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">13,433</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top"><font style="font-size: 10pt">Accretion in carrying value of debenture liability</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,056</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>1,056</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">404</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">11,781</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">841</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>12,622</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">13,837</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td></tr>
</table>
<p style="margin: 0pt"></p>
<table cellspacing="0" cellpadding="0" style="border-top: black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" id="hdcell" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>2018</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2017</font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" id="ffcell" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Current
tax expense</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Provision
for income taxes</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<table cellspacing="0" cellpadding="0" style="border-top: black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" id="hdcell" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>2018</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2017</font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Unused
tax losses</font></td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td id="ffcell" style="vertical-align: bottom; border-bottom: black 1pt solid; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>141</b></font></td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">776</font></td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<table cellspacing="0" cellpadding="0" style="border-top: black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" id="hdcell" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>2018</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2017</font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Convertible
debentures</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td id="ffcell" style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>67</b></font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">233</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Deferred
cost</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>74</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">111</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Intangible
assets</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">250</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Investment
tax credits</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Property
and equipment</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">182</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>141</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">776</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<p style="margin: 0pt"></p>
<table cellspacing="0" cellpadding="0" style="border-top: black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" id="hdcell" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt"><b>2018</b></font></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt">2017</font></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt">2016</font></td>
<td style="text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Personnel expense</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td id="ffcell" style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt"><b>16,702</b></font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">17,869</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">18,552</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Marketing</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>8,291</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">5,916</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">5,277</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Depreciation and amortization</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>7,062</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">4,045</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">2,707</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Hosting and software licences</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>4,110</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">2,075</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,999</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Professional services</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>1,281</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,389</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,628</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Premises</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>1,036</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,053</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,235</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Insurance and licenses</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>1,091</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">470</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">391</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Others</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>3,506</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">2,899</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">2,614</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>43,079</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">35,716</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">34,403</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td></tr>
</table>
<p style="margin: 0pt"></p>
<p style="margin: 0pt"></p>
<table cellspacing="0" cellpadding="0" style="border-top: black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" id="hdcell" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt"><b>2018</b></font></td>
<td style="text-align: right"> </td>
<td style="text-align: right"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt">2017</font></td>
<td style="text-align: right"> </td>
<td style="text-align: right"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt">2016</font></td>
<td style="text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Loss attributed to shareholders</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td id="ffcell" style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt"><b>(22,022</b></font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font-size: 10pt"><b>)</b></font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">(19,729</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font-size: 10pt">)</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">(17,092</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font-size: 10pt">)</font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Basic weighted average number of shares (in 000s)</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>22,714</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">18,381</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">18,251</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; border-bottom: black 1pt solid; text-align: justify"><font style="font-size: 10pt">Basic and diluted loss per share</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>(0.97</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font-size: 10pt"><b>)</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(1.07</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font-size: 10pt">)</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(0.94</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font-size: 10pt">)</font></td></tr>
</table>
<p style="margin: 0pt"></p>
<table cellspacing="0" cellpadding="0" style="border-top: black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" id="hdcell" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>2018</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2017</font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Share
capital</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td id="ffcell" style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>75,045</b></font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">71,389</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Deficit</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>(90,784</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>)</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(63,627</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Debentures</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>41,625</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">39,680</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Convertible
debentures</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>12,622</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">13,837</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Credit
facilities</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>75,934</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">57,110</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<table cellspacing="0" cellpadding="0" style="border-top: black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="6" id="hdcell" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>December
31, 2018</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="6" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">December
31, 2017</font></td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Total
Fair </b></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Value
</b></font></p></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Total
Carrying Value</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Total
Fair</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Value</font></p></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Total
Carrying Value</font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; border-bottom: black 1pt solid; width: 56%; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"><b>Loans
Receivable – Non-Current (Level 3)</b></font></td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td id="ffcell" style="vertical-align: bottom; border-bottom: black 1pt solid; width: 8%; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">41,595</font></td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; width: 8%; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">39,317</font></td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; width: 8%; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">36,567</font></td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; width: 8%; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">33,917</font></td>
<td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="margin: 0pt"></p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" id="hdcell" style="border-bottom: black 1pt solid">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><b>December 31, </b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><b>2018</b></p></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" style="border-bottom: black 1pt solid">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">December 31,</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">2017</p></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" style="border-bottom: black 1pt solid">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">December 31,</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"> 2016</p></td>
<td style="text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Cash</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td id="ffcell" style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt"><b>874</b></font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">171</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">65</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; border-bottom: black 1pt solid; text-align: justify"><font style="font-size: 10pt">Debentures</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>4,770</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">4,770</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">4,870</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td></tr>
</table>
<p style="margin: 0pt"></p>
<p style="margin: 0pt"></p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" id="hdcell" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt"><b>Number of RSUs (000s)</b></font></td>
<td style="text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Outstanding, December 31, 2015</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td id="ffcell" style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt"><b>100</b></font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Granted</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">73</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Expired</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(28</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Outstanding, December 31, 2016</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>145</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Granted</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">71</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Converted</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(41</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Expired</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(30</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Outstanding, December 31, 2017</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>145</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Granted</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">164</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Converted</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(30</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Expired</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(33</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; border-bottom: black 1pt solid; text-align: justify; text-indent: 0.65pt"><font style="font-size: 10pt">Outstanding,
December 31, 2018</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>246</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td></tr>
</table>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<table cellspacing="0" cellpadding="0" style="border-top: black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%; font-size-adjust: none; font-stretch: normal">
<tr style="vertical-align: bottom">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" id="hdcell" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="10" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Non-cash
changes</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>January
1, </b></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>2018</b></font></p></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Cash
flows</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Conversion</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Foreign
exchange</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Fair
Value/ Amortization</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>December 31,
2018</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Share
capital</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td id="ffcell" style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">71,389</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">311</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,345</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>75,045</b></font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Credit
facility</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">57,110</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">18,414</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">410</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>75,934</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Debentures</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">39,680</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,410</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">535</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>41,625</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Convertible
debentures</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">12,864</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(1,735</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">652</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>11,781</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Derivative
financial liability</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,697</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(1,733</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>964</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Total</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>183,740</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>20,135</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>1,610</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>535</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>(671</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>)</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>205,349</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; font-size-adjust: none; font-stretch: normal">
<tr style="vertical-align: top">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Details of changes
in financing activities for the year ended December 31, 2017 are as follows:</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<table cellspacing="0" cellpadding="0" style="border-top: black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%; font-size-adjust: none; font-stretch: normal">
<tr style="vertical-align: bottom">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="10" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Non-cash
changes</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>January
1, </b></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>2017</b></font></p></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>Cash
flows</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Conversion</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Foreign
exchange</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Fair
Value/ Amortization</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>December 31,
2017</b></font></td>
<td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Share
capital</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">45,655</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">24,397</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,337</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>71,389</b></font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Credit
facility</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">45,943</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">10,642</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">525</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>57,110</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Debentures</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">40,092</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">5</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(417</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>39,680</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Convertible
debentures</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">12,460</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">404</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>12,864</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Derivative
financial liability</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">490</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,207</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>2,697</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Total</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>132,180</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>47,504</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>1,337</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>(417</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>)</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>3,136</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>183,740</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
132234000
7045000
75045000
140928000
964000
11781000
41625000
75934000
973000
9651000
132234000
273000
3501000
17794000
1487000
-651000
8036000
9353000
-4228000
43079000
11177000
8383000
8772000
14747000
38851000
22426000
6059000
16367000
61277000
8111000
26433000
26733000
-0.97
-1.07
-0.28
-1.35
22714000
-29203000
-116000
2917000
-1824000
343000
-36428000
5905000
668000
1733000
18406000
1105000
689000
410000
7062000
3409000
7644000
-11053000
20135000
311000
18414000
1410000
20439000
40560000
-20121000
8291000
5916000
5277000
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>IFRS 16, Leases</i></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">In January 2016, the IASB issued IFRS
16, <i>Leases</i>, effective for annual periods beginning on or after January 1, 2019, with earlier adoption permitted. IFRS 16
will replace IAS 17, <i>Leases</i>. The Company intends to adopt IFRS 16 in its financial statements for the fiscal year beginning
on January 1, 2019.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -20pt"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">IFRS 16 removes the distinction between
operating and finance leases from the lessee’s perspective and introduces a single lessee accounting model. The standard
requires a lessee to recognize a “right of use” asset and a corresponding lease liability for substantially all leases,
with the exception of leases with terms less than 12 months and leases of low value assets. Requirements for lessor accounting
are largely unchanged from IAS 17. IFRS 16 will also result in reclassification of the nature of lease expenses to depreciation
and interest expense, from their classification of “premises expense” under IAS 17.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">IFRS 16 offers a range of transition
options. The Company plans to apply IFRS 16 using the modified retrospective approach. Therefore the cumulative effect of adopting
IFRS 16, if any, will be recognized as an adjustment to opening retained earnings as at January 1, 2019, with no restatement of
comparative information. Under this method using the practical expedient available the Company is planning to recognize the right
of use asset equal to the lease liability. Additionally, the Company will elect to apply the standard to contracts that were previously
identified as leases applying IAS 17 and IFRIC 4.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Based on the information currently
available, the Company estimates that it will recognize a lease liability and right to use asset of approximately $6.0 million
to $7.5 million as at January 1, 2019. This preliminary estimate is subject to adjustment as management continues to monitor and
refine certain elements of its IFRS 16 adoption in advance of Q1 2019 reporting. The Company is on track to complete its implementation
of IFRS 16 effective January 1, 2019. Further, the Company has discussed the impact of IFRS 16 adoption with its lender and concluded
that the adoption of the Standard will have no impact on the financial covenants as described in Note 9.</p>
0
23226846
1453000
1453000
<p style="margin-top: 0; margin-bottom: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">On April 15, 2018, the
Company announced the signing of a definitive agreement (the “Arrangement Agreement”) to merge the Company (the
“Transaction”) with Difference Capital Financial Inc. (“Difference”). The Transaction will be
accounted for as a business combination under <i>IFRS 3, Business Combinations, </i>with Mogo as the acquirer.</font></p>
<p style="margin-top: 0; margin-bottom: 0"> </p>
<table cellspacing="0" cellpadding="0" style="width: 100%">
<tr style="vertical-align: top">
<td style="font: 12pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">On
April 15, 2018, the Company announced the signing of a definitive agreement (the “Arrangement Agreement”) to merge
the Company (the “Transaction”) with Difference Capital Financial Inc. (“Difference”).</font></td></tr>
<tr>
<td style="font: 12pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="vertical-align: top">
<td style="font: 12pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Under
the terms of the Arrangement Agreement, each Mogo common share, excluding those already owned by Difference, will be exchanged
for one Difference common share. As a result of the exchange, former Mogo shareholders will hold approximately 80% of the
common shares of the resulting company (the “Resulting Issuer”), and former Difference shareholders will hold
approximately 20% of the common shares of the Resulting Issuer. Following the combination, the Resulting Issuer is expected
to be named Mogo Inc.</font></td></tr>
<tr>
<td style="font: 12pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="vertical-align: top">
<td style="font: 12pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">As
at December 31, 2018, Difference held 2,449,163 Mogo common shares. Michael Wekerle, Difference’s Executive Chair and
largest minority shareholder, also directly held 2,550,972 Mogo common shares. Difference is an investment company with cash
resources and a portfolio of investments in some of the premier private technology companies in Canada.</font></td></tr>
<tr>
<td style="font: 12pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="vertical-align: top">
<td style="font: 12pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The
Transaction has been unanimously approved by the Special Committees and Board of Directors of both Mogo and Difference and
is expected to close in the second quarter of 2019. The Transaction is subject to customary closing conditions, including
required regulatory approvals, as well as approval by the Company’s shareholders.</font></td></tr>
</table>
1696000
P1Y2M23D
2.69
0.80
0.20
2550972000
2449163000
The Company may, at its option any time after 12 months from the closing date and at any time prior to maturity, subject to regulatory approval and provided that no events of default have occurred, prepay the convertible debentures in whole or in part, plus accrued interest, in cash. If the prepayment occurs: within 24 months of the closing date, then the debenture holders are entitled to receive (1) an additional payment equal to 5% of the prepayment amount and (2) the interest that would have accrued from the date of prepayment to, but excluding, the day that is 24 months from the closing date; or after 24 months of the closing date but prior to the maturity date, then the debenture holders are entitled to receive the interest that would have accrued from the date of prepayment to, but excluding, the maturity date.
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b></b></font></p>
<table cellspacing="0" cellpadding="0" style="border-top: black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">2019</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td id="ffcell" style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">2020</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">27,968</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">2021</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">9,787</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">2022</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,870</font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>41,625</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="border-top: black 1pt solid; text-align: justify"> </td>
<td style="border-top: black 1pt solid; text-align: justify"> </td>
<td colspan="2" id="hdcell" style="border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt"><b>2018</b></font></td>
<td style="border-top: black 1pt solid; text-align: justify"> </td>
<td style="border-top: black 1pt solid; text-align: justify"> </td>
<td colspan="2" style="border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt">2017</font></td>
<td style="border-top: black 1pt solid; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Expires 2024</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td id="ffcell" style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">610</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">610</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Expires 2025</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,075</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,075</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Expires 2026</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">2,136</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">2,136</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Expires 2027</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">5,203</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">5,203</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Expires 2028</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">2,064</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">2,064</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Expires 2029</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">4,663</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">4,663</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Expires 2030</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">3,698</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">3,698</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Expires 2031</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,614</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,614</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Expires 2032</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">4,849</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">4,849</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Expires 2033</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">10,454</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">10,454</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Expires 2034</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">7,416</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">7,416</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Expires 2035</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">9,835</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">9,835</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Expires 2036 </font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">19,008</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">19,008</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Expires 2037 </font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">19,824</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">19,824</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Expires 2038</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">16,277</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>108,726</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">92,449</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify"> </p>
92449000
108726000
16277000
19824000
19824000
19008000
19008000
9835000
9835000
7416000
7416000
10454000
10454000
4849000
4849000
1614000
1614000
3698000
3698000
4663000
4663000
2064000
2064000
5203000
5203000
2136000
2136000
1075000
1075000
610000
610000
<table cellspacing="0" cellpadding="0" style="border-top: black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" id="hdcell" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt"><b>2018</b></font></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt">2017</font></td>
<td style="text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Canadian federal and provincial recovery of income taxes using statutory rate of 27% (2017 – 27%)</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td id="ffcell" style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt"><b>(5,946</b></font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font-size: 10pt"><b>)</b></font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">(5,381</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font-size: 10pt">)</font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Change in unrecognized deductible temporary differences and unused tax losses</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>6,098</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">4,397</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Permanent differences and other</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>(152</b></font></td>
<td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt"><b>)</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">984</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; border-bottom: black 1pt solid; text-align: justify"><font style="font-size: 10pt"><b>Provision for income taxes</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>-</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td></tr>
</table>
<table cellspacing="0" cellpadding="0" style="border-top: black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" id="hdcell" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt"><b>2018</b></font></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 10pt">2017</font></td>
<td style="text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Property and equipment</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td id="ffcell" style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt"><b>2,250</b></font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td>
<td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">-</font></td>
<td style="vertical-align: bottom; width: 1%; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Intangible assets</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>4,368</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,412</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Debentures</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>1,658</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,123</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Financing costs</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>2,390</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">4,161</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Research and development expenditures</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>1,163</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,342</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Other</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>21</b></font></td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">326</font></td>
<td style="vertical-align: bottom; text-align: justify"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>11,850</b></font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td>
<td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">8,364</font></td>
<td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"> </td></tr>
</table>
8364000
11850000
326000
21000
1342000
1163000
4161000
2390000
Re-measurement of the allowance for loan losses relates to the application of the ECL impairment methodology effective upon transition to IFRS 9. This adjustment was recorded to the opening deficit as at January 1, 2018.
(1)The consolidated statement of financial position as at December 31, 2018 reflects the adoption of IFRS 9 on January 1, 2018. The comparative information has not been restated. For additional information on IFRS 9 adoption, refer to the sections "Impairment of financial assets" and "Summary of IFRS 9 adoption impact" within Note 3 to these consolidated financial statements.
(1)The consolidated statement of comprehensive loss for the year ended December 31, 2018 reflects the adoption of IFRS 9 on January 1, 2018. The comparative information has not been restated. For additional information on IFRS 9 adoption, refer to the sections "Impairment of financial assets" and "Summary of IFRS 9 adoption impact" within Note 3 to these consolidated financial statements.
(1)The consolidated statement of changes in equity (deficit) for the year ended December 31, 2018 reflects the adoption of IFRS 9 on January 1, 2018. The comparative information has not been restated. For additional information on IFRS 9 adoption, refer to the sections "Impairment of financial assets" and "Summary of IFRS 9 adoption impact" within Note 3 to these consolidated financial statements.
(1)The consolidated statement of cash flows for the year ended December 31, 2018 reflects the adoption of IFRS 9 on January 1, 2018. The comparative information has not been restated. For additional information on IFRS 9 adoption, refer to the sections "Impairment of financial assets" and "Summary of IFRS 9 adoption impact" within Note 3 to these consolidated financial statements.