ORBIT GAR ANT DRILLING INC. NOTES TO THE CONSOLID A TED FINANCIAL ST A TEMENTS (Continued) (Amounts as at March 31, 2008 and for the nine and three months ended March 31, 2008 and for the six and three months ended March 31, 2007 are unaudited) 13. ADDITIONAL INFORMA TION RELA TING TO THE ST A TEMENT OF C ASH FLOWS Changes in non-cash operating working capital items March 31, March 31, March 31, March 31, June 30, 2008 2007 2008 2007 2007 (3 months) (3 months) (9 months) (6 months) (9 months) (unaudited) (unaudited) (unaudited) (unaudited) $$$$$ A ccounts receivable ........................ (4,777,645) (4,609,229) (6,450,894) (4,231,283) (3,415,833) Inventories ............................. (2,391,626) (637,233) (6,858,006) (887,233) (1,737,186) P repaid expenses ......................... (205,786) (148,109) (405,254) (171,785) (196,177) A ccounts payable and accrued liabilities ........... 3,693,717 860,022 5,487,845 1,643,081 618,054 Client deposits ........................... (24,005) (277,064) 518,796 (277,064) (101,490) Income taxes payable ....................... 592,259 646,384 (885,837) 473,764 1,346,719 (3,113,086) (4,165,229) (8,593,350) (3,450,520) (3,485,913) Cash and cash equivalents Cash ................................. 788,082 — 788,082 — — Bank overdraft ........................... (488,422) (4,170,257) (488,422) (4,170,257) (1,494,525) 299,660 (4,170,257) 299,660 (4,170,257) (1,494,525) Non-cash investing and financing activities Issuance of share in consideration of business acquisitions (see Note 3) ................... — 11,538,000 — 14,038,000 14,203,000 A ccounts payable related to intangible assets ........ 1,125,000 — — — 2,040,000 Non-cash transactions A cquisition of assets under capital lease ........... 264,419 — 264,419 — — Other information Interest paid ............................ 524,198 401,667 1,480,692 606,091 1,062,663 Income taxes paid (received) .................. 873,152 (11,581) 4,783,044 1,337,206 736,138 14. COMMITMENTS Under the terms of operating leases of business premises expiring 2009 and 2012, the company is committed to make minimum payments totaling $355,500 as at March 31, 2008 detailed as follows: $ 2008 .......................................................................... 164,500 2009 .......................................................................... 114,000 2010 .......................................................................... 42,000 2011 .......................................................................... 35,000 15. RELA TED P A R TY TR ANSACTIONS The company is related to 2867-3820 Qu ? ebec Inc. and Ironbridge Equity P artners due to the significant influence exercised by these companies on Orbit Garant Drilling Inc. The company is also related to 6483976 Canada Inc. (Usinage X-SPEC) due to the significant influence exercised by the company. F-23