v3.6.0.2
Condensed Consolidated Interim Balance Sheets - USD ($)
Dec. 31, 2016
Mar. 31, 2016
Current    
Cash and cash equivalents $ 580,952 $ 5,381,757
Accounts receivable 253,849 0
Prepaid expenses and other receivables (Note 4) 153,010 231,733
Inventories (Note 5) 194,573 0
Due from related parties (Note 8(a)) 40,913 41,445
Short term advances 0 125,153
Loan receivable 0 379,908
Total Current Assets 1,223,297 6,159,996
Equipment (Note 6) 203,745 76,750
Intangible assets and goodwill (Note 3) 27,888,979 0
Total Assets 29,316,021 6,236,746
Current    
Accounts payable (Notes 8(b) and 13) 405,315 320,871
Accrued liabilities (Notes 8(b) and 7) 738,863 515,979
Current portion of lease payable (Note 6) 4,603 0
Promissory notes payable (Note 7) 231,781 0
Convertible loans (Note 7) 483,333 0
Customer deposits 114,487 0
Deferred revenue 97,165 0
Warrant derivative liability (Note 11) 2,582,040 5,135,990
Total Current Liabilities 4,657,587 5,972,840
Demand notes payable (Note 7) 328,361 0
Lease payable (Note 6) 15,729 0
Total Liabilities 5,001,677 5,972,840
Shareholders' Equity    
Preferred Stock 0 0
Common Stock, par value $0.001; Authorized - 150,000,000 (March 31, 2016 - 150,000,000); Issued and outstanding - 46,362,541 and 50,000,000 Exchangeable Shares (March 31, 2016 - 22,591,292 and 50,000,000 Exchangeable Shares) (Note 9) 96,362 72,591
Additional paid in capital 38,232,457 11,801,146
Deficit (14,056,624) (11,651,980)
Accumulated other comprehensive income 42,149 42,149
Total Shareholders' Equity 24,314,344 263,906
Total Liabilities and Shareholders' Equity 29,316,021 6,236,746
Special Voting Preferred Stock [Member]    
Shareholders' Equity    
Preferred Stock $ 0 $ 0

Source

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

Source

v3.6.0.2
Condensed Consolidated Interim Statements of Cash Flows - USD ($)
9 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Operating activities    
Net (loss) income for the period $ (2,404,644) $ 2,040,240
Adjustment for items not affecting cash    
Depreciation 57,781 53,357
Interest expense 23,839 0
Share- based compensation expense 592,130 1,337,573
Shares issued for services 59,500 98,900
Change in fair value of warrant derivative liability (2,510,388) (6,871,597)
Adjustments, Noncash Items, to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities (4,181,782) (3,341,527)
Changes in non-cash working capital items    
Accounts receivable (247,359) 0
Prepaid expenses and other receivables 95,562 (29,798)
Due from related parties 532 2,926
Inventories (120,894) (74,069)
Accounts payable (718,270) (275,106)
Accrued liabilities (492,047) 0
Customer deposits 28,000 0
Lease payable (2,303) 0
Deferred revenue 97,615 0
Net cash used in operating activities (5,540,946) (3,717,574)
Investing activities    
Acquisition of equipment (9,827) (39,811)
Provision of a loan receivable 0 (307,459)
Net cash used in investing activity (9,827) (347,270)
Financing activity    
Proceeds from issuance of shares, net of issue costs 0 4,556,818
Provision of convertible loans 483,333 0
Cash acquired on acquisition 266,635 0
Net cash provided by financing activity 749,968 4,556,818
Net (decrease) increase in cash and cash equivalents for the period (4,800,805) 491,974
Cash and cash equivalents, beginning of period 5,381,757 6,125,108
Cash and cash equivalents, end of period 580,952 $ 6,617,082
Assets acquired and liabilities assumed:    
Current assets, including cash acquired of $266,635 478,843  
Equipment 59,749  
Intangible assets and goodwill 27,888,979  
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  

Source