CONSOLIDATED STATEMENT OF CHANGES IN EQUITY  For the year ended December 31, 2012  Share  Equity  Fair Value  Translation  Retained  Total  Notes  Capital  Reserve  Reserve  Reserve  Earnings  Equity  Balance at January 1, 2012  $200,822,160  $4,626,500  $2,292,939  $(124,947)  $28,897,018  $236,513,760  Total comprehensive income for the year  Earnings for the year  -  -  -  -  18,035,603  18,035,603  Other comprehensive income  Net change in fair value of available-for-sale financial  assets 5  -  -  50,000  -  -  50,000  Tax impact of change in fair value  (6,250)  (6,250)  Foreign currency translation differences  -  -  -  (140,273)  -  (140,273)  Total other comprehensive income  -  -  43,750  (140,273)  -  (96,523)  Total comprehensive income for the year  $-  $-  $43,750  $(140,273)  $18,035,603  $17,939,080  Transactions with shareholders of the Company,  recognized directly in equity  Contributions by and distributions to shareholders  of the Company  Non-cash stock based compensation  10  $-  $1,817,433  $-  $-  $-  $1,817,433  Dividends to shareholders  8  -  -  -  -  (24,959,880)  (24,959,880)  Options exercised in the period  8  673,150  (65,650)  -  -  -  607,500  Payments in lieu of dividends on RSUs  10  -  -  -  -  (241,738)  (241,738)  Shares issued after management RSU vesting  8  3,447,800  (3,447,800)  -  -  Shares issued in the period  8  49,042,500  -  -  -  -  49,042,500  Share issue costs, net of tax  8  (2,066,038)  -  -  -  -  (2,066,038)  Shares issued in lieu of dividends on RSUs  10  96,600  96,600  Total transactions with Shareholders of the  Company  51,194,012  (1,696,017)  -  -  (25,201,618)  24,296,377  Balance at December 31, 2012  $252,016,172  $2,930,483  $2,336,689  $(265,220)  $21,731,093  $278,749,217  43  Con s olida t e d  F i nanc ial St a t e m e nts A nnual  R eport 2013