v3.7.0.1
Condensed Consolidated Interim Balance Sheets - USD ($)
Jun. 30, 2017
Mar. 31, 2017
Current    
Cash and cash equivalents $ 846,431 $ 543,650
Accounts receivable 134,926 383,903
Prepaid expenses and other receivables (Note 4) 172,051 228,047
Inventories (Note 5) 255,546 228,249
Due from related parties (Note 8)(a) 19,366 18,731
Total Current Assets 1,428,320 1,402,580
Equipment (Note 6) 218,469 227,421
Technology and other assets (Note 3) 4,937,675 5,030,624
Goodwill (Note 3) 22,308,275 22,308,275
Total Assets 28,892,739 28,968,900
Current    
Accounts Payable (Notes 8(b) and 13) 890,624 784,726
Accrued liabilities (Notes 7 and 8(b)) 1,223,130 1,228,657
Customer advances 229,862 121,562
Demand Loans (Note 7) 332,941 330,600
Promissory Notes payable (Note 7) 241,700 236,548
Convertible Loans (Note 7) 2,581,510 2,017,488
Deferred revenue 106,609 98,624
Warrant Derivative Liability (Note 11) 759,714 959,600
Total Current Liabilities 6,366,090 5,777,805
Shareholders’ Equity    
Common Shares, par value $0.001; Authorized - 150,000,000 (March 31, 2017 - 150,000,000); Issued and outstanding 53,885,279 and 47,909,336 Exchangeable Shares (March 31, 2017 - 48,885,107 and 47,909,336 Exchangeable Shares) (Note 9) 101,794 96,794
Additional paid in capital 40,216,582 38,640,706
Deficit (17,833,876) (15,588,554)
Accumulated other comprehensive income 42,149 42,149
Total Shareholders’ Equity 22,526,649 23,191,095
Total Liabilities and Shareholders’ Equity 28,892,739 28,968,900
Special Voting Preferred Stock [Member]    
Shareholders’ Equity    
Preferred Stock, par value $0.001; Authorized 10,000,000 Special Voting Preferred Stock, par value $0.001; Authorized; Issued and outstanding - 1 (March 31, 2017 - 1) $ 0 $ 0

Source

v3.7.0.1
Condensed Consolidated Interim Statements of Operations and Comprehensive Loss - USD ($)
3 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Sales $ 87,520 $ 164,191
Cost of Sales 29,300 58,875
Gross Margin 58,220 105,316
Operating expenses    
Sales and marketing 445,525 82,198
Research and development 685,909 417,790
General and administrative 627,606 1,303,614
Share-based compensation expense (Notes 9(c) and 10) 251,048 219,248
Amortization (Note 3) 92,949 0
Depreciation (Note 6) 24,552 10,163
Total operating expenses 2,127,589 2,033,013
Other expenses (income)    
Foreign exchange 98,561 0
Interest expense (Note 7) 72,766 15,234
Other income (178) (11,218)
Change in fair value of warrant derivative liability (Note 11) 4,804 391,059
Total other expenses (income) 175,953 395,075
Net loss and comprehensive loss for the period $ (2,245,322) $ (2,322,772)
Loss per share - basic and diluted $ (0.02) $ (0.03)
Weighted average number of shares outstanding - basic and diluted 96,959,284 82,050,549

Source

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    

Source