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 noncash 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 4777645 4609229 6450894 4231283 3415833 Inventories 2391626 637233 6858006 887233 1737186 P repaid expenses 205786 148109 405254 171785 196177 A ccounts payable and accrued liabilities 3693717 860022 5487845 1643081 618054 Client deposits 24005 277064 518796 277064 101490 Income taxes payable 592259 646384 885837 473764 1346719 3113086 4165229 8593350 3450520 3485913 Cash and cash equivalents Cash 788082 788082 Bank overdraft 488422 4170257 488422 4170257 1494525 299660 4170257 299660 4170257 1494525 Noncash investing and financing activities Issuance of share in consideration of business acquisitions see Note 3 11538000 14038000 14203000 A ccounts payable related to intangible assets 1125000 2040000 Noncash transactions A cquisition of assets under capital lease 264419 264419 Other information Interest paid 524198 401667 1480692 606091 1062663 Income taxes paid received 873152 11581 4783044 1337206 736138 14 COMMITMENTS Under the terms of operating leases of business premises expiring 2009 and 2012 the company is committed to make minimum payments totaling 355500 as at March 31 2008 detailed as follows 2008 164500 2009 114000 2010 42000 2011 35000 15 RELA TED P A R TY TR ANSACTIONS The company is related to 28673820 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 XSPEC due to the significant influence exercised by the company F23