WARRANTS (Tables)
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6 Months Ended |
Sep. 30, 2016 |
Warrants and Rights Note Disclosure [Abstract] |
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Schedule Of Share Based Compensation Stock Purchase Warrants Activity [Table Text Block] |
The following is a continuity schedule of the Company’s common share purchase warrants: | | Number of Warrants | | Average Exercise Price ($) | | Outstanding and exercisable, March 31, 2015 | | | 10,823,450 | | | 1.35 | | Issued | | | 7,225,625 | | | 1.35 | | Outstanding and exercisable, December 31, 2015 | | | 18,049,075 | | | 1.35 | | Exercised | | | (148,787) | | | (0.80) | | Outstanding and exercisable, March 31, 2016 | | | 17,900,288 | | | 1.35 | | Exercised | | | (262,045) | | | (0.80) | | Outstanding and exercisable, September 30, 2016 | | | 17,638,243 | | | 1.36
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Schedule of Common Share Purchase Warrants Outstanding [Table Text Block] |
The following is a summary of common share purchase warrants outstanding as of September 30, 2016: Exercise Price ($) | | | | Number of Warrants | | | | | 1.40 | | | | | 7,735,750 | | February 26, 2019 | | | 1.40 | | | | | 1,212,500 | | March 27, 2019 | | | 1.40 | | | | | 891,250 | | March 31, 2019 | | | 1.40 | | Note 9(i) | | | 3,115,000 | | April 21, 2019 | | | 1.40 | | Note 9 (ii) | | | 1,418,750 | | May 27, 2019 | | | 1.40 | | Note 9(iii) | | | 2,035,000 | | June 30, 2019 | | | 0.80 | | Note 9 (i) to (iii) | | | 1,229,993 | | February 26, 2019 | | | | | | | | 17,638,243
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Schedule Of Warrant derivative liability [Table Text Block] |
The following summarizes the changes in the value of the warrant derivative liability from inception until September 30, 2016: | | Number of Warrants | | Value ($) | | | | | | | | | | Balance at March 31, 2015 | | | 10,823,450 | | | 8,382,648 | | Warrants issued in April 21, 2015 financing | | | 3,426,500 | | | 2,588,722 | | Warrants issued in May 27, 2015 financing | | | 1,560,625 | | | 1,025,173 | | Warrants issued in June 30, 2015 financing | | | 2,238,500 | | | 1,490,969 | | Change in fair value of warrant derivative liability | | | - | | | (7,419,643) | | Balance at December 31, 2015 | | | 18,049,075 | | | 6,067,869 | | Fair value of warrants exercised | | | (148,787) | | | (60,966) | | Change in fair value of warrant derivative liability | | | - | | | (870,913) | | Balance at March 31, 2016 | | | 17,900,288 | | | 5,135,990 | | Change in fair value of warrant derivative liability | | | - | | | (1,739,047) | | Fair value of warrants exercised | | | (262,045) | | | (43,562) | | Balance at September 30, 2016 | | | 17,638,243 | | | 3,353,381
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Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] |
The key inputs and assumptions used in the simulation model at inception and at September 30, 3016 and March 31, 2016 are as follows: Grant date | | Number of Warrants | | Expected life in years | | Exercise Price ($) | | Risk free rate | | Dividend rate | | Expected volatility | | Fair value ($) | | At Inception: | | | | | | | | | | | | | | | | | | | | | | | February 26, 2015 | | | 7,735,750 | | | 4 | | | 1.4 | | | 0.44 | % | | 0 | % | | 51.83 | % | | 464,784 | | February 26, 2015 | | | 773,575 | | | 4 | | | 0.8 | | | 0.44 | % | | 0 | % | | 51.83 | % | | 85,590 | | March 27, 2015 | | | 1,212,500 | | | 3.92 | | | 1.4 | | | 0.43 | % | | 0 | % | | 52.37 | % | | 950,913 | | March 27, 2015 | | | 121,250 | | | 3.92 | | | 0.8 | | | 0.43 | % | | 0 | % | | 52.37 | % | | 85,412 | | March 31, 2015 | | | 891,250 | | | 3.91 | | | 1.4 | | | 0.41 | % | | 0 | % | | 52.45 | % | | 696,582 | | March 31, 2015 | | | 89,125 | | | 3.91 | | | 0.8 | | | 0.41 | % | | 0 | % | | 52.45 | % | | 62,708 | | April 21, 2015 | | | 3,115,000 | | | 3.85 | | | 1.4 | | | 0.68 | % | | 0 | % | | 51.54 | % | | 2,371,956 | | April 21, 2015 | | | 311,500 | | | 3.85 | | | 0.8 | | | 0.68 | % | | 0 | % | | 51.54 | % | | 216,766 | | May 27, 2015 | | | 1,418,750 | | | 3.76 | | | 1.4 | | | 0.46 | % | | 0 | % | | 51.74 | % | | 933,065 | | May 27, 2015 | | | 141,875 | | | 3.76 | | | 0.8 | | | 0.46 | % | | 0 | % | | 51.74 | % | | 92,108 | | June 30, 2015 | | | 2,035,000 | | | 3.66 | | | 1.4 | | | 0.37 | % | | 0 | % | | 52.94 | % | | 1,356,512 | | June 30, 2015 | | | 203,500 | | | 3.66 | | | 0.8 | | | 0.37 | % | | 0 | % | | 52.94 | % | | 134,457 | | | | | | | | | | | | | | | | | | | | | | | | | At year end March 31, 2016: | | | | | | | | | | | | | | | | | | | | | | | March 31, 2016 | | | 16,408,250 | | | 2.91 | | | 1.4 | | | 0.21 | % | | 0 | % | | 62.96 | % | | 4,585,539 | | March 31, 2016 | | | 1,492,038 | | | 2.91 | | | 0.8 | | | 0.21 | % | | 0 | % | | 62.96 | % | | 550,451 | | | | | | | | | | | | | | | | | | | | | | | | | At Period End: | | | | | | | | | | | | | | | | | | | | | | | September 30, 2016 | | | 16,408,250 | | | 2.50 | | | 1.4 | | | 0.84 | % | | 0 | % | | 69.68 | % | | 3,008,245 | | September 30, 2016 | | | 1,229,993 | | | 2.50 | | | 0.8 | | | 0.84 | % | | 0 | % | | 69.68 | % | | 345,136
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