Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Interim Statements of Operations and Comprehensive Income (Loss)

v3.6.0.2
Condensed Consolidated Interim Statements of Operations and Comprehensive Income (Loss) - USD ($)
3 Months Ended 9 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2016
Dec. 31, 2015
Sales $ 372,426 $ 0 $ 553,900 $ 0
Cost of Sales 334,786 0 405,680 0
Gross Margin 37,640 0 148,220 0
Operating expenses        
Sales and marketing 377,046 0 646,509 0
Research and development 571,671 593,686 1,803,234 1,971,809
General and administrative 409,669 438,628 2,291,136 1,313,071
Share-based compensation expense (Notes 9(v) and 10) 227,540 13,291 651,630 1,337,573
Depreciation (Note 6) 24,028 20,877 57,781 53,357
Total operating expenses 1,609,954 1,066,482 5,450,290 4,675,810
Other expenses (income)        
Interest expense (Note 7) 13,808 0 23,839 0
Other income (4,363) (5,566) (410,877) (28,578)
Foreign exchange loss 0 184,125 0 184,125
Change in fair value of warrant derivative liability (Note 11) (771,341) (2,457,778) (2,510,388) (6,871,597)
Total other expenses (income) (761,896) (2,279,219) (2,897,426) (6,716,050)
Net income (loss) and comprehensive income (loss) for the period $ (810,418) $ 1,212,737 $ (2,404,644) $ 2,040,240
Income (loss) per share - basic $ (0.01) $ 0.02 $ (0.03) $ 0.03
Income (loss) per share - diluted $ (0.01) $ 0.02 $ (0.03) $ 0.03
Weighted average number of shares outstanding - basic 96,362,541 72,412,532 90,286,864 67,210,266
Weighted average number of shares outstanding - diluted 93,043,498 72,412,532 94,320,801 67,210,266