Valuation for TMQ - findataslice

	Trilogy Metals Inc.
	Q4-CY2025	Q3-CY2025	Q2-CY2025	Q1-CY2025	Q4-CY2024	Q3-CY2024	Q2-CY2024	Q1-CY2024	Q4-CY2023	Q3-CY2023	Q2-CY2023	Q1-CY2023	Q4-CY2022	Q3-CY2022	Q2-CY2022	Q1-CY2022	Q4-CY2021	Q3-CY2021	Q2-CY2021	Q1-CY2021	Q4-CY2020	Q3-CY2020	Q2-CY2020	Q1-CY2020	Q4-CY2019	Q3-CY2019	Q2-CY2019	Q1-CY2019	Q4-CY2018	Q3-CY2018	Q2-CY2018	Q1-CY2018	Q4-CY2017	Q3-CY2017	Q2-CY2017	Q1-CY2017	Q4-CY2016	Q3-CY2016	Q2-CY2016	Q1-CY2016	Q4-CY2015	Q3-CY2015	Q2-CY2015	Q1-CY2015	Q4-CY2014	Q3-CY2014	Q2-CY2014	Q1-CY2014	Q4-CY2013
Balance Sheet Date		2025-Aug-31	2025-May-31	2025-Feb-28	2024-Nov-30	2024-Aug-31	2024-May-31	2024-Feb-29	2023-Nov-30	2023-Aug-31	2023-May-31	2023-Feb-28	2022-Nov-30	2022-Aug-31	2022-May-31	2022-Feb-28	2021-Nov-30	2021-Aug-31	2021-May-31	2021-Feb-28	2020-Nov-30	2020-Aug-31	2020-May-31	2020-Feb-29	2019-Nov-30	2019-Aug-31	2019-May-31	2019-Feb-28	2018-Nov-30	2018-Aug-31	2018-May-31	2018-Feb-28	2017-Nov-30	2017-Aug-31	2017-May-31	2017-Feb-28	2016-Nov-30	2016-Aug-31	2016-May-31	2016-Feb-29	2015-Nov-30	2015-Aug-31	2015-May-31	2015-Feb-28	2014-Nov-30	2014-Aug-31	2014-May-31	2014-Feb-28	2013-Nov-30
Fiscal Period		Q3-FY2025	Q2-FY2025	Q1-FY2025	Q4-FY2024	Q3-FY2024	Q2-FY2024	Q1-FY2024	Q4-FY2023	Q3-FY2023	Q2-FY2023	Q1-FY2023	Q4-FY2022	Q3-FY2022	Q2-FY2022	Q1-FY2022	Q4-FY2021	Q3-FY2021	Q2-FY2021	Q1-FY2021	Q4-FY2020	Q3-FY2020	Q2-FY2020	Q1-FY2020	Q4-FY2019	Q3-FY2019	Q2-FY2019	Q1-FY2019	Q4-FY2018	Q3-FY2018	Q2-FY2018	Q1-FY2018	Q4-FY2017	Q3-FY2017	Q2-FY2017	Q1-FY2017	Q4-FY2016	Q3-FY2016	Q2-FY2016	Q1-FY2016	Q4-FY2015	Q3-FY2015	Q2-FY2015	Q1-FY2015	Q4-FY2014	Q3-FY2014	Q2-FY2014	Q1-FY2014	Q4-FY2013
Close Price of Common Stock	6.50$	2.10$	1.36$	1.55$	1.15$	0.49$	0.51$	0.51$	0.42$	0.49$	0.59$	0.53$	0.55$	0.61$	0.77$	1.03$	1.65$	1.84$	2.51$	2.15$	2.00$	1.82$	2.00$	1.35$	2.54$	1.66$	2.95$	2.49$	1.75$	2.08$	1.70$	1.31$	1.11$	0.95$
Market Cap of Common Stock	1,068,024,165$	345,011,961$	222,513,236$	254,108,837$	184,233,722$	78,670,876$	81,701,079$	80,833,031$	65,081,504$	75,446,277$	88,435,570$	79,462,538$	80,423,769$	88,926,815$	112,022,047$	149,828,215$	238,344,950$	265,781,532$	362,174,863$	309,999,317$	286,008,356$	256,557,361$	280,628,137$	189,890,698$	355,609,502$	230,582,461$	389,617,704$	327,648,174$	229,563,510$	273,451,913$	181,109,969$	139,562,522$	117,298,476$	100,266,209$
Market Cap of Common Stock QoQ%	209.56%	55.05%	(12.43%)	37.93%	134.18%	(3.71%)	1.07%	24.20%	(13.74%)	(14.69%)	11.29%	(1.20%)	(9.56%)	(20.62%)	(25.23%)	(37.14%)	(10.32%)	(26.62%)	16.83%	8.39%	11.48%	(8.58%)	47.78%	(46.60%)	54.22%	(40.82%)	18.91%	42.73%	(16.05%)	50.99%	29.77%	18.98%	16.99%
Market Cap of Common Stock YoY%	479.71%	338.55%	172.35%	214.36%	183.08%	4.27%	(7.62%)	1.73%	(19.08%)	(15.16%)	(21.06%)	(46.96%)	(66.26%)	(66.54%)	(69.07%)	(51.67%)	(16.67%)	3.60%	29.06%	63.25%	(19.57%)	11.27%	(27.97%)	(42.04%)	54.91%	(15.68%)	115.13%	134.77%	95.71%	172.73%
Common Shares Outstanding	164,311,410	164,291,410	164,241,410	164,020,851	161,085,313	160,567,514	160,186,788	159,766,930	155,925,990	155,559,334	155,269,296	148,722,699	146,225,035	145,868,502	145,871,247	145,464,286	145,009,811	144,451,485	144,446,485	144,214,485	144,137,850	142,978,805	140,922,886	140,659,776	140,427,761	138,905,097	132,143,407	132,042,343	131,585,612	131,533,953	131,348,458	106,535,276	105,684,523	105,667,125	105,554,489	105,520,261	105,286,469	105,267,504	105,024,874	104,979,820	104,796,421	104,334,683	60,633,701	60,633,701	60,296,365	60,296,365	53,707,957	53,629,245	53,066,656
Common Shares Outstanding QoQ%	.01%	.03%	.13%	1.82%	.32%	.24%	.26%	2.46%	.24%	.19%	4.40%	1.71%	.24%	.00%	.28%	.31%	.39%	.00%	.16%	.05%	.81%	1.46%	.19%	.17%	1.10%	5.12%	.08%	.35%	.04%	.14%	23.29%	.81%	.02%	.11%	.03%	.22%	.02%	.23%	.04%	.18%	.44%	72.07%	.00%	(99.90%)	.00%	12.27%	.15%	1.06%	.10%
Common Shares Outstanding YoY%	2.00%	2.32%	2.53%	2.66%	3.31%	3.22%	3.17%	7.43%	6.63%	6.64%	6.44%	2.24%	.84%	.98%	.99%	.87%	.61%	1.03%	2.50%	2.53%	2.64%	2.93%	6.64%	6.53%	6.72%	5.60%	.61%	23.94%	24.51%	24.48%	24.44%	.96%	.38%	.38%	.50%	.52%	.47%	.89%	73.21%	73.14%	(99.83%)	73.04%	12.90%	13.06%	13.62%	13.73%	1.78%	1.63%	13.72%
Total Revenue TTM
Total Revenue																									0$				0$	(12,000$)								34,000$				209,000$			9,000$	0$			8,000$
Total Revenue QoQ%																													100.00%																.00%				(91.58%)
Total Revenue YoY%																									.00%													(83.73%)				.00%			12.50%	(100.00%)			172.73%
Gross Margin																														100.00%								100.00%				100.00%			100.00%				100.00%
Earnings to Common Shareholders TTM		(9,183,000$)	(9,027,000$)	(8,609,000$)	(8,587,000$)	(9,975,000$)	(12,436,000$)	(13,480,000$)	(14,951,000$)	(17,149,000$)	(23,035,000$)	(24,306,000$)	(24,257,000$)	(25,102,000$)	(22,828,000$)	(22,167,000$)	(21,660,000$)	(18,819,000$)	(14,339,000$)	(13,928,000$)	161,767,000$	158,468,000$	149,117,000$	147,610,000$	(27,905,000$)	(26,699,000$)	(24,084,000$)	(23,239,000$)	(21,849,000$)	(23,256,000$)	(22,328,000$)	(21,054,000$)	(21,104,000$)	(11,643,000$)	(6,906,000$)	(6,163,000$)	(4,862,000$)	(9,687,000$)	(9,594,000$)	(9,697,000$)	(9,532,000$)	(9,471,000$)	(8,220,000$)	(8,563,000$)	(9,648,000$)	(12,551,000$)	(16,530,000$)	(20,384,000$)	(24,395,000$)
Earnings to Common Shareholders		(1,747,000$)	(2,177,000$)	(3,623,000$)	(1,636,000$)	(1,591,000$)	(1,759,000$)	(3,601,000$)	(3,024,000$)	(4,052,000$)	(2,803,000$)	(5,072,000$)	(5,222,000$)	(9,938,000$)	(4,074,000$)	(5,023,000$)	(6,067,000$)	(7,664,000$)	(3,413,000$)	(4,516,000$)	(3,226,000$)	(3,184,000$)	(3,002,000$)	171,179,000$	(6,525,000$)	(12,535,000$)	(4,509,000$)	(4,336,000$)	(5,319,000$)	(9,920,000$)	(3,664,000$)	(2,946,000$)	(6,726,000$)	(8,992,000$)	(2,390,000$)	(2,996,000$)	2,735,000$	(4,255,000$)	(1,647,000$)	(1,695,000$)	(2,090,000$)	(4,162,000$)	(1,750,000$)	(1,530,000$)	(2,029,000$)	(2,911,000$)	(2,093,000$)	(2,615,000$)	(4,932,000$)
Earnings to Common Shareholders QoQ%		19.75%	39.91%	(121.46%)	(2.83%)	9.55%	51.15%	(19.08%)	25.37%	(44.56%)	44.74%	2.87%	47.45%	(143.94%)	18.89%	17.21%	20.84%	(124.55%)	24.42%	(39.99%)	(1.32%)	(6.06%)	(101.75%)	2,723.43%	47.95%	(178.00%)	(3.99%)	18.48%	46.38%	(170.74%)	(24.37%)	56.20%	25.20%	(276.23%)	20.23%	(209.54%)	164.28%	(158.35%)	2.83%	18.90%	49.78%	(137.83%)	(14.38%)	24.59%	30.30%	(39.08%)	19.96%	46.98%	28.42%
Earnings to Common Shareholders YoY%		(9.81%)	(23.76%)	(.61%)	45.90%	60.74%	37.25%	29.00%	42.09%	59.23%	31.20%	(.98%)	13.93%	(29.67%)	(19.37%)	(11.23%)	(88.07%)	(140.70%)	(13.69%)	(102.64%)	50.56%	74.60%	33.42%	4,047.86%	(22.67%)	(26.36%)	(23.06%)	(47.18%)	20.92%	(10.32%)	(53.31%)	1.67%	(345.92%)	(111.33%)	(45.11%)	(76.76%)	230.86%	(2.24%)	5.89%	(10.78%)	(3.01%)	(42.98%)	16.39%	41.49%	58.86%	57.75%	64.81%	60.53%	37.10%
Profit Margin																														82,666.67%								(12,514.71%)				(1,991.39%)			(22,544.44%)				(61,650.00%)
Equity to Common Shareholders		128,665,000$	130,016,000$	131,590,000$	132,794,000$	133,823,000$	134,875,000$	136,095,000$	137,555,000$	140,013,000$	143,530,000$	142,691,000$	145,428,000$	150,048,000$	159,415,000$	162,950,000$	166,039,000$	171,408,000$	178,660,000$	181,443,000$	183,811,000$	186,286,000$	188,406,000$	190,638,000$	18,263,000$	23,740,000$	25,960,000$	29,805,000$	32,202,000$	37,357,000$	47,059,000$	23,641,000$	25,665,000$	32,289,000$	41,176,000$	43,463,000$	46,154,000$	43,348,000$	47,456,000$	48,988,000$	50,430,000$	52,129,000$	32,938,000$	34,599,000$	35,847,000$	37,106,000$	32,718,000$	34,675,000$	37,157,000$
Equity to Common Shareholders QoQ		(1,351,000$)	(1,574,000$)	(1,204,000$)	(1,029,000$)	(1,052,000$)	(1,220,000$)	(1,460,000$)	(2,458,000$)	(3,517,000$)	839,000$	(2,737,000$)	(4,620,000$)	(9,367,000$)	(3,535,000$)	(3,089,000$)	(5,369,000$)	(7,252,000$)	(2,783,000$)	(2,368,000$)	(2,475,000$)	(2,120,000$)	(2,232,000$)	172,375,000$	(5,477,000$)	(2,220,000$)	(3,845,000$)	(2,397,000$)	(5,155,000$)	(9,702,000$)	23,418,000$	(2,024,000$)	(6,624,000$)	(8,887,000$)	(2,287,000$)	(2,691,000$)	2,806,000$	(4,108,000$)	(1,532,000$)	(1,442,000$)	(1,699,000$)	19,191,000$	(1,661,000$)	(1,248,000$)	(1,259,000$)	4,388,000$	(1,957,000$)	(2,482,000$)	(2,853,000$)
Equity to Common Shareholders QoQ%		(1.04%)	(1.20%)	(.91%)	(.77%)	(.78%)	(.90%)	(1.06%)	(1.76%)	(2.45%)	.59%	(1.88%)	(3.08%)	(5.88%)	(2.17%)	(1.86%)	(3.13%)	(4.06%)	(1.53%)	(1.29%)	(1.33%)	(1.13%)	(1.17%)	943.85%	(23.07%)	(8.55%)	(12.90%)	(7.44%)	(13.80%)	(20.62%)	99.06%	(7.89%)	(20.52%)	(21.58%)	(5.26%)	(5.83%)	6.47%	(8.66%)	(3.13%)	(2.86%)	(3.26%)	58.26%	(4.80%)	(3.48%)	(3.39%)	13.41%	(5.64%)	(6.68%)	(7.13%)
Equity to Common Shareholders YoY		(5,158,000$)	(4,859,000$)	(4,505,000$)	(4,761,000$)	(6,190,000$)	(8,655,000$)	(6,596,000$)	(7,873,000$)	(10,035,000$)	(15,885,000$)	(20,259,000$)	(20,611,000$)	(21,360,000$)	(19,245,000$)	(18,493,000$)	(17,772,000$)	(14,878,000$)	(9,746,000$)	(9,195,000$)	165,548,000$	162,546,000$	162,446,000$	160,833,000$	(13,939,000$)	(13,617,000$)	(21,099,000$)	6,164,000$	6,537,000$	5,068,000$	5,883,000$	(19,822,000$)	(20,489,000$)	(11,059,000$)	(6,280,000$)	(5,525,000$)	(4,276,000$)	(8,781,000$)	14,518,000$	14,389,000$	14,583,000$	15,023,000$	220,000$	(76,000$)	(1,310,000$)	(2,904,000$)	(13,425,000$)	(14,312,000$)	(16,566,000$)
Equity to Common Shareholders YoY%		(3.85%)	(3.60%)	(3.31%)	(3.46%)	(4.42%)	(6.03%)	(4.62%)	(5.41%)	(6.69%)	(9.97%)	(12.43%)	(12.41%)	(12.46%)	(10.77%)	(10.19%)	(9.67%)	(7.99%)	(5.17%)	(4.82%)	906.47%	684.69%	625.76%	539.62%	(43.29%)	(36.45%)	(44.84%)	26.07%	25.47%	15.70%	14.29%	(45.61%)	(44.39%)	(25.51%)	(13.23%)	(11.28%)	(8.48%)	(16.85%)	44.08%	41.59%	40.68%	40.49%	.67%	(.22%)	(3.53%)	(7.26%)	(29.09%)	(29.22%)	(30.84%)
Dividends Paid
Additional Paid-In Capital QoQ		136,000$	101,000$	674,000$	60,000$	94,000$	92,000$	318,000$	126,000$	125,000$	114,000$	520,000$	25,000$	221,000$	284,000$	832,000$	240,000$	383,000$	286,000$	1,778,000$	279,000$	363,000$	389,000$	1,149,000$	(60,000$)	247,000$	302,000$	1,558,000$	65,000$	69,000$	85,000$	455,000$	10,000$	12,000$	29,000$	217,000$	23,000$	30,000$	56,000$	184,000$	195,000$	214,000$	64,000$	279,000$	465,000$	(42,000$)	15,000$	(597,000$)	822,000$
Treasury Stock
Treasury Stock QoQ
Price to Sales
Price to Earnings	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.77x	1.62x	1.88x	1.29x	-	-	-	-	-	-	-	-	-	-
Price to Book	8.30x	2.68x	1.71x	1.93x	1.39x	.59x	.61x	.59x	.47x	.54x	.62x	.56x	.55x	.59x	.70x	.92x	1.44x	1.55x	2.03x	1.71x	1.56x	1.38x	1.49x	1.00x	19.47x	9.71x	15.01x	10.99x	7.13x	7.32x	3.85x	5.90x	4.57x	3.11x
Goodwill
Goodwill QoQ%
Goodwill YoY%
Other Intangible Assets
Other Intangible Assets QoQ
Amortization of Intangible Assets
Forward Price to Sales MRQ																						-	-	-	-	-	-	-	-	-
Forward Price to Earnings MRQ	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	.28x	-	-	-	-	-	-	-	-	-	-
Total Assets		129,120,000$	130,983,000$	132,390,000$	133,697,000$	134,376,000$	135,338,000$	136,559,000$	138,020,000$	140,577,000$	144,258,000$	143,537,000$	145,995,000$	150,825,000$	160,299,000$	163,895,000$	167,305,000$	172,255,000$	180,093,000$	182,534,000$	185,265,000$	188,172,000$	189,544,000$	192,559,000$	51,617,000$	59,252,000$	58,441,000$	61,872,000$	54,659,000$	62,121,000$	69,626,000$	45,101,000$	40,279,000$	47,048,000$	52,376,000$	43,884,000$	46,747,000$	44,202,000$	47,925,000$	49,485,000$	51,181,000$	53,503,000$	34,203,000$	35,326,000$	36,826,000$	38,856,000$	34,228,000$	36,440,000$	38,899,000$
Total Assets QoQ		(1,863,000$)	(1,407,000$)	(1,307,000$)	(679,000$)	(962,000$)	(1,221,000$)	(1,461,000$)	(2,557,000$)	(3,681,000$)	721,000$	(2,458,000$)	(4,830,000$)	(9,474,000$)	(3,596,000$)	(3,410,000$)	(4,950,000$)	(7,838,000$)	(2,441,000$)	(2,731,000$)	(2,907,000$)	(1,372,000$)	(3,015,000$)	140,942,000$	(7,635,000$)	811,000$	(3,431,000$)	7,213,000$	(7,462,000$)	(7,505,000$)	24,525,000$	4,822,000$	(6,769,000$)	(5,328,000$)	8,492,000$	(2,863,000$)	2,545,000$	(3,723,000$)	(1,560,000$)	(1,696,000$)	(2,322,000$)	19,300,000$	(1,123,000$)	(1,500,000$)	(2,030,000$)	4,628,000$	(2,212,000$)	(2,459,000$)	(3,403,000$)
Total Assets YoY		(5,256,000$)	(4,355,000$)	(4,169,000$)	(4,323,000$)	(6,201,000$)	(8,920,000$)	(6,978,000$)	(7,975,000$)	(10,248,000$)	(16,041,000$)	(20,358,000$)	(21,310,000$)	(21,430,000$)	(19,794,000$)	(18,639,000$)	(17,960,000$)	(15,917,000$)	(9,451,000$)	(10,025,000$)	133,648,000$	128,920,000$	131,103,000$	130,687,000$	(3,042,000$)	(2,869,000$)	(11,185,000$)	16,771,000$	14,380,000$	15,073,000$	17,250,000$	1,217,000$	(6,468,000$)	2,846,000$	4,451,000$	(5,601,000$)	(4,434,000$)	(9,301,000$)	13,722,000$	14,159,000$	14,355,000$	14,647,000$	(25,000$)	(1,114,000$)	(2,073,000$)	(3,446,000$)	(14,820,000$)	(15,404,000$)	(16,797,000$)
Total Liabilities		455,000$	967,000$	800,000$	903,000$	553,000$	463,000$	464,000$	465,000$	564,000$	728,000$	846,000$	567,000$	777,000$	884,000$	945,000$	1,266,000$	847,000$	1,433,000$	1,091,000$	1,454,000$	1,886,000$	1,138,000$	1,921,000$	33,354,000$	35,512,000$	32,481,000$	32,067,000$	22,457,000$	24,764,000$	22,567,000$	21,460,000$	14,614,000$	14,759,000$	11,200,000$	421,000$	593,000$	854,000$	469,000$	497,000$	751,000$	1,374,000$	1,265,000$	727,000$	979,000$	1,750,000$	1,510,000$	1,765,000$	1,742,000$
Total Liabilities QoQ		(512,000$)	167,000$	(103,000$)	350,000$	90,000$	(1,000$)	(1,000$)	(99,000$)	(164,000$)	(118,000$)	279,000$	(210,000$)	(107,000$)	(61,000$)	(321,000$)	419,000$	(586,000$)	342,000$	(363,000$)	(432,000$)	748,000$	(783,000$)	(31,433,000$)	(2,158,000$)	3,031,000$	414,000$	9,610,000$	(2,307,000$)	2,197,000$	1,107,000$	6,846,000$	(145,000$)	3,559,000$	10,779,000$	(172,000$)	(261,000$)	385,000$	(28,000$)	(254,000$)	(623,000$)	109,000$	538,000$	(252,000$)	(771,000$)	240,000$	(255,000$)	23,000$	(550,000$)
Total Liabilities YoY		(98,000$)	504,000$	336,000$	438,000$	(11,000$)	(265,000$)	(382,000$)	(102,000$)	(213,000$)	(156,000$)	(99,000$)	(699,000$)	(70,000$)	(549,000$)	(146,000$)	(188,000$)	(1,039,000$)	295,000$	(830,000$)	(31,900,000$)	(33,626,000$)	(31,343,000$)	(30,146,000$)	10,897,000$	10,748,000$	9,914,000$	10,607,000$	7,843,000$	10,005,000$	11,367,000$	21,039,000$	14,021,000$	13,905,000$	10,731,000$	(76,000$)	(158,000$)	(520,000$)	(796,000$)	(230,000$)	(228,000$)	(376,000$)	(245,000$)	(1,038,000$)	(763,000$)	(542,000$)	(1,395,000$)	(1,092,000$)	(231,000$)
Current Ratio		63.63x	28.26x	36.08x	32.84x	60.98x	30.42x	4.64x	6.20x	6.23x	5.82x	2.21x	5.45x	5.25x	5.55x	6.75x	6.41x	13.06x	8.44x	13.77x	10.93x	9.23x	19.93x	11.29x	8.56x	6.15x	18.56x	28.94x	14.26x	7.86x	15.05x	9.64x	2.14x	3.36x	17.79x		26.39x												4.11x
Total Current Assets		23,733,000$	24,695,000$	25,329,000$	26,045,000$	26,098,000$	14,083,000$	2,151,000$	2,882,000$	3,516,000$	4,240,000$	1,871,000$	2,910,000$	3,631,000$	4,135,000$	5,106,000$	6,612,000$	7,328,000$	9,170,000$	9,872,000$	11,438,000$	13,280,000$	13,515,000$	15,935,000$	20,157,000$	27,731,000$	27,490,000$	30,883,000$	23,633,000$	31,171,000$	38,631,000$	14,071,000$	9,100,000$	15,981,000$	21,347,000$	12,920,000$	15,649,000$	13,381,000$	13,730,000$	15,241,000$	16,885,000$	19,143,000$	3,436,000$	4,468,000$	5,825,000$	7,730,000$	2,959,000$	4,963,000$	7,165,000$
Total Current Assets QoQ		(962,000$)	(634,000$)	(716,000$)	(53,000$)	12,015,000$	11,932,000$	(731,000$)	(634,000$)	(724,000$)	2,369,000$	(1,039,000$)	(721,000$)	(504,000$)	(971,000$)	(1,506,000$)	(716,000$)	(1,842,000$)	(702,000$)	(1,566,000$)	(1,842,000$)	(235,000$)	(2,420,000$)	(4,222,000$)	(7,574,000$)	241,000$	(3,393,000$)	7,250,000$	(7,538,000$)	(7,460,000$)	24,560,000$	4,971,000$	(6,881,000$)	(5,366,000$)	8,427,000$	(2,729,000$)	2,268,000$	(349,000$)	(1,511,000$)	(1,644,000$)	(2,258,000$)	15,707,000$	(1,032,000$)	(1,357,000$)	(1,905,000$)	4,771,000$	(2,004,000$)	(2,202,000$)	(3,141,000$)
Total Current Liabilities		373,000$	874,000$	702,000$	793,000$	428,000$	463,000$	464,000$	465,000$	564,000$	728,000$	846,000$	534,000$	692,000$	745,000$	757,000$	1,031,000$	561,000$	1,086,000$	717,000$	1,046,000$	1,439,000$	678,000$	1,411,000$	2,354,000$	4,512,000$	1,481,000$	1,067,000$	1,657,000$	3,964,000$	2,567,000$	1,460,000$	4,249,000$	4,759,000$	1,200,000$		593,000$												1,742,000$
Total Current Liabilities QoQ		(501,000$)	172,000$	(91,000$)	365,000$	(35,000$)	(1,000$)	(1,000$)	(99,000$)	(164,000$)	(118,000$)	312,000$	(158,000$)	(53,000$)	(12,000$)	(274,000$)	470,000$	(525,000$)	369,000$	(329,000$)	(393,000$)	761,000$	(733,000$)	(943,000$)	(2,158,000$)	3,031,000$	414,000$	(590,000$)	(2,307,000$)	1,397,000$	1,107,000$	(2,789,000$)	(510,000$)	3,559,000$															(315,000$)
Debt to Asset Ratio		-	.01x	.01x	.01x	-	-	-	-	-	.01x	.01x	-	.01x	.01x	.01x	.01x	-	.01x	.01x	.01x	.01x	.01x	.01x	.65x	.60x	.56x	.52x	.41x	.40x	.32x	.48x	.36x	.31x	.21x	.01x	.01x	.02x	.01x	.01x	.01x	.03x	.04x	.02x	.03x	.05x	.04x	.05x	.04x
Long Term Debt
Long Term Debt QoQ
Long Term Debt YoY
Capital Lease Obligations																					93,006$	93,006$	93,006$	93,006$
Interest Expenses																									0$	0$	0$	0$	0$	0$	0$	0$	0$	0$	0$	0$	0$	0$	0$	0$	0$	0$	0$	0$	0$	0$	0$	0$	0$
Cash and Cash Equivalents		23,372,000$	24,616,000$	25,213,000$	25,834,000$	25,738,000$	14,022,000$	2,012,000$	2,590,000$					3,133,000$	3,497,000$	4,847,000$	6,308,000$	6,831,000$	8,449,000$	9,631,000$	11,125,000$	12,780,000$	12,343,000$	15,217,000$	19,174,000$	26,852,000$	25,806,000$	29,955,000$	22,991,000$	30,468,000$	37,469,000$	12,146,000$	5,391,000$	10,205,000$	14,529,000$	6,447,000$	7,340,000$	9,227,000$	12,907,000$	14,654,000$	16,064,000$	18,143,000$	2,732,000$	3,988,000$	5,074,000$	6,999,000$	2,083,000$	4,364,000$	6,484,000$
Cash and Cash Equivalents QoQ		(1,244,000$)	(597,000$)	(621,000$)	96,000$	11,716,000$	12,010,000$	(578,000$)						(364,000$)	(1,350,000$)	(1,461,000$)	(523,000$)	(1,618,000$)	(1,182,000$)	(1,494,000$)	(1,655,000$)	437,000$	(2,874,000$)	(3,957,000$)	(7,678,000$)	1,046,000$	(4,149,000$)	6,964,000$	(7,477,000$)	(7,001,000$)	25,323,000$	6,755,000$	(4,814,000$)	(4,324,000$)	8,082,000$	(893,000$)	(1,887,000$)	(3,680,000$)	(1,747,000$)	(1,410,000$)	(2,079,000$)	15,411,000$	(1,256,000$)	(1,086,000$)	(1,925,000$)	4,916,000$	(2,281,000$)	(2,120,000$)	(2,956,000$)
Cash and Cash Equivalents YoY		(2,366,000$)	10,594,000$	23,201,000$	23,244,000$									(3,698,000$)	(4,952,000$)	(4,784,000$)	(4,817,000$)	(5,949,000$)	(3,894,000$)	(5,586,000$)	(8,049,000$)	(14,072,000$)	(13,463,000$)	(14,738,000$)	(3,817,000$)	(3,616,000$)	(11,663,000$)	17,809,000$	17,600,000$	20,263,000$	22,940,000$	5,699,000$	(1,949,000$)	978,000$	1,622,000$	(8,207,000$)	(8,724,000$)	(8,916,000$)	10,175,000$	10,666,000$	10,990,000$	11,144,000$	649,000$	(376,000$)	(1,410,000$)	(2,441,000$)	(13,604,000$)	(14,375,000$)	(15,760,000$)
Interest Income