Quarterly report pursuant to Section 13 or 15(d)

WARRANTS (Tables)

v3.7.0.1
WARRANTS (Tables)
3 Months Ended
Jun. 30, 2017
Warrants and Rights Note Disclosure [Abstract]  
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:
 
 
 
 
 
Weighted-Average
 
 
 
Number of Warrants
 
Exercise Price ($)
 
Outstanding and exercisable, March 31, 2015
 
 
10,823,450
 
 
1.35
 
Issued
 
 
7,225,625
 
 
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, March 31, 2017
 
 
17,638,243
 
 
1.35
 
Exercised
 
 
(5,000,172)
 
 
0.25
 
Dilution warrants issued to $0.80 warrant holders
 
 
83,752
 
 
0.749
 
Dilution warrants issued to $1.40 warrant holders
 
 
941,191
 
 
1.2933
 
Outstanding at June 30, 2017
 
 
13,663,014
 
 
1.241
 
Schedule of Common Share Purchase Warrants Outstanding [Table Text Block]
The following is a summary of common share purchase warrants outstanding after the warrant offer, the additional warrant issue and the re-pricing of the warrants as of June 30, 2017:
 
Exercise
 
Number of
 
 
 
Price ($)
 
Warrants
 
Expiry Date
 
 
1.2933
 
 
5,873,289
 
February 26, 2019
 
 
1.2933
 
 
1,229,040
 
March 27, 2019
 
 
1.2933
 
 
328,166
 
March 31, 2019
 
 
1.2933
 
 
2,544,240
 
April 21, 2019
 
 
1.2933
 
 
1,201,164
 
May 27, 2019
 
 
1.2933
 
 
1,173,370
 
June 30, 2019
 
 
0.7490
 
 
1,313,745
 
February 26, 2019
 
 
 
 
 
13,663,014
 
 
 
Schedule Of Warrant derivative liability [Table Text Block]
The following summarizes the changes in the value of the warrant derivative liability from inception until June 30, 2017:
 
 
 
 
 
Number of
 
 
 
 
 
 
 
Warrants
 
Value ($)
 
Warrants issued in February 26, 2015 financing
 
 
 
 
8,509,325
 
 
550,374
 
Warrants issued in March 27, 2015 financing
 
 
 
 
1,333,750
 
 
1,036,325
 
Warrants issued in March 31, 2015 financing
 
 
 
 
980,375
 
 
759,290
 
Change in fair value of warrant derivative liability
 
 
 
 
 
 
 
6,036,659
 
Balance at March 31, 2015
 
 
 
 
 
 
 
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
 
 
 
 
 
 
 
(8,290,556)
 
Fair value of warrants exercised
 
 
 
 
 
 
 
(60,966)
 
Balance at March 31, 2016
 
 
 
 
 
 
 
5,135,990
 
Change in fair value of warrant derivative liability
 
 
 
 
 
 
 
(4,176,390)
 
Balance at March 31, 2017
 
 
 
 
 
 
 
959,600
 
Change in fair value of warrant derivative liability
 
 
 
 
 
 
 
4,804
 
Fair value of warrants exercised
 
Note 9(a)
 
 
 
 
 
(204,790)
 
Balance at June 30, 2017
 
 
 
 
 
 
 
759,714
 
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 June 30, 2017 and March 31, 2017 are as follows:
 
 
 
 
 
Expected
 
 
 
Risk
 
 
 
 
 
 
 
 
 
Number of
 
life in
 
Exercise
 
free
 
Dividend
 
Expected
 
Fair
 
Grant date
 
Warrants
 
years
 
Price($)
 
Rate
 
rate
 
volatility
 
value ($)
 
At Inception:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
February 26, 2015
 
 
7,735,750
 
 
4
 
 
1.40
 
 
0.44
%
 
0
%
 
51.83
%
 
464,784
 
February 26, 2015
 
 
773,575
 
 
4
 
 
0.80
 
 
0.44
%
 
0
%
 
51.83
%
 
85,590
 
March 27, 2015
 
 
1,212,500
 
 
3.92
 
 
1.40
 
 
0.43
%
 
0
%
 
52.37
%
 
950,913
 
March 27, 2015
 
 
121,250
 
 
3.92
 
 
0.80
 
 
0.43
%
 
0
%
 
52.37
%
 
85,412
 
March 31, 2015
 
 
891,250
 
 
3.91
 
 
1.40
 
 
0.41
%
 
0
%
 
52.45
%
 
696,582
 
March 31, 2015
 
 
89,125
 
 
3.91
 
 
0.80
 
 
0.41
%
 
0
%
 
52.45
%
 
62,708
 
April 21, 2015
 
 
3,115,000
 
 
3.85
 
 
1.40
 
 
0.68
%
 
0
%
 
51.54
%
 
2,371,956
 
April 21, 2015
 
 
311,500
 
 
3.85
 
 
0.80
 
 
0.68
%
 
0
%
 
51.54
%
 
216,766
 
May 27, 2015
 
 
1,418,750
 
 
3.76
 
 
1.40
 
 
0.46
%
 
0
%
 
51.74
%
 
933,065
 
May 27, 2015
 
 
141,875
 
 
3.76
 
 
0.80
 
 
0.46
%
 
0
%
 
51.74
%
 
92,108
 
June 30, 2015
 
 
2,035,000
 
 
3.66
 
 
1.40
 
 
0.37
%
 
0
%
 
52.94
%
 
1,356,512
 
June 30, 2015
 
 
203,500
 
 
3.66
 
 
0.80
 
 
0.37
%
 
0
%
 
52.94
%
 
134,457
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
At Year End:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
March 31, 2017
 
 
16,408,250
 
 
1.91
 
 
1.40
 
 
0.65
%
 
0
%
 
53.58
%
 
849,713
 
March 31, 2017
 
 
1,229,993
 
 
1.91
 
 
0.80
 
 
0.65
%
 
0
%
 
53.58
%
 
109,887
 
At Period End
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
June 30, 2017
 
 
12,349,269
 
 
1.91
 
 
1.2933
 
 
0.65
%
 
0
%
 
53.58
%
 
667,184
 
June 30, 2017
 
 
1,313,745
 
 
1.91
 
 
0.7490
 
 
0.65
%
 
0
%
 
53.58
%
 
92,530