Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Interim Statements of Cash Flows

v3.7.0.1
Condensed Consolidated Interim Statements of Cash Flows - USD ($)
1 Months Ended 3 Months Ended
Apr. 21, 2016
Jun. 30, 2017
Jun. 30, 2016
Operating activities      
Net loss for the period   $ (2,245,322) $ (2,322,772)
Adjustment for items not affecting cash      
Depreciation   24,552 10,163
Amortization   92,949 0
Interest expense   72,766 15,234
Share based compensation expense   251,048 159,818
Shares issued for services   0 59,500
Change in fair value of warrant derivative liability   4,804 391,059
Adjustments, Noncash Items, to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities   (1,799,203) (1,686,998)
Changes in non-cash working capital items      
Accounts receivable   248,977 (113,870)
Prepaid expenses and other receivables   55,996 60,142
Due from related parties   (635) (178)
Inventories   (27,297) (71,380)
Accounts payable   104,648 (703,526)
Accrued liabilities   (5,428) (382,629)
Customer advances   108,300 0
Deferred revenue   7,985 0
Net cash used in operating activities   (1,306,657) (2,898,439)
Investing activities      
Acquisition of equipment   (15,600) 0
Net cash used in investing activities   (15,600) 0
Financing activities      
Proceeds from convertible loans   500,000 0
Proceeds on exercise of warrants   1,125,038 0
Cash acquired on acquisition $ 266,635 0 266,635
Net cash provided by financing activities   1,625,038 266,635
Net (increase) decrease in cash and cash equivalents for the period   302,781 (2,631,804)
Cash and cash equivalents, beginning of period 5,381,757 543,650 5,381,757
Cash and cash equivalents, end of period   846,431 $ 2,749,953
Assets acquired and liabilities assumed as at April 21, 2016:      
Current assets, including cash of $266,635 478,843    
Equipment 59,749    
Intangible assets 5,580,704 $ 5,580,704  
Goodwill 22,308,275    
Accounts payable (241,299)    
Accrued liabilities (361,029)    
Customer deposits (86,487)    
Demand notes payable (324,894)    
Promissory Notes payable (217,808)    
Bionik advance (1,436,164)    
Non-cash consideration $ 25,759,890