v3.7.0.1
Consolidated Balance Sheets - USD ($)
Mar. 31, 2017
Mar. 31, 2016
Current    
Cash and cash equivalents $ 543,650 $ 5,381,757
Trade Accounts receivable 383,903 0
Inventory (Note 5) 228,249 0
Prepaid expenses and other receivables (Note 4) 228,047 231,733
Due from related parties (Note 8) 18,731 41,445
Short term advances 0 125,153
Loans receivable 0 379,908
Total Current Assets 1,402,580 6,159,996
Equipment (Note 6) 227,421 76,750
Technology and other Assets (Note 3) 5,030,624 0
Goodwill (Note 3) 22,308,275 0
Total Assets 28,968,900 6,236,746
Current    
Accounts payable (Note 8) 784,726 320,871
Accrued liabilities (Note 8) 1,228,657 515,979
Customer advances 121,562 0
Demand Loans (Note 7) 330,600 0
Promissory Note Payable (Note 7) 236,548 0
Convertible Loans (Note 7) 2,017,488 0
Deferred Revenue 98,624 0
Warrant derivative liability (Note 11) 959,600 5,135,990
Total Current Liabilities 5,777,805 5,972,840
Shareholders’ Equity    
Common Shares, par value $0.001; Authorized - 150,000,000 Exchangeable Shares; Authorized - Unlimited, Common shares Issued and outstanding - 48,885,107, March 31, 2016 -22,591,292 Exchangeable Shares Issued and Outstanding - 47,909,336, March 31, 2016 -50,000,000 (Note 9) 96,794 72,591
Additional paid-in capital 38,640,706 11,801,146
Deficit (15,588,554) (11,651,980)
Accumulated other comprehensive income 42,149 42,149
Total Shareholders’ Equity 23,191,095 263,906
Total Liabilities and Shareholders’ Equity 28,968,900 6,236,746
Special Voting Preferred Stock [Member]    
Shareholders’ Equity    
Preferred Stock $ 0 $ 0

Source

v3.7.0.1
Consolidated Statements of Operations and Comprehensive (Loss) Income - USD ($)
12 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Sales $ 571,945 $ 0
Cost of Sales 388,756 0
Gross Margin 183,189 0
Operating expenses    
Sales and marketing 1,188,207 0
Research and development 2,663,146 1,397,554
General and administrative 3,346,230 3,676,125
Share-based compensation expense (Notes 8(v) and 9) 1,001,950 1,495,837
Amortization of technology and other assets (Note 3) 550,080 0
Depreciation (Note 6) 79,868 63,454
Total operating expenses 8,829,481 6,632,970
Other expenses (income)    
Interest expense 43,735 2,839
Other income (692,198) (42,173)
Foreign exchange loss 115,135 112,771
Change in fair value of warrant derivative liability (Note 10) (4,176,390) (7,742,555)
Total other expenses (income) (4,709,718) (7,669,118)
Net (loss) income and comprehensive (loss) income for the year $ (3,936,574) $ 1,036,148
Income (loss) per share - basic $ (0.04) $ 0.01
Income (loss) per share - diluted $ (0.04) $ (0.08)
Weighted average number of shares outstanding - basic 91,784,976 71,554,822
Weighted average number of shares outstanding - diluted 91,784,976 79,984,257

Source

v3.7.0.1
Statements of Cash Flows - USD ($)
12 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Operating activities    
Net (loss) income for the year $ (3,936,574) $ 1,036,148
Adjustment for items not affecting cash:    
Depreciation 79,868 63,454
Amortization of intangible assets 550,080 0
Interest expense 41,934 7,697
Share-based compensation expense 844,162 1,495,837
Shares issued for services 157,788 169,700
Change in fair value of warrant derivative liability (4,176,390) (7,742,555)
Adjustments, Noncash Items, to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities (6,439,132) (4,969,719)
Changes in non-cash working capital items:    
Accounts receivable (377,413) 0
Prepaid expenses and other receivables 20,525 (73,314)
Due from related parties 22,714 35
Inventory (39,370) 0
Accounts payable (332,010) 112,129
Accrued liabilities 18,674 183,033
Customer advances 35,075 0
Deferred Revenue 98,624 0
Net cash used in operating activities (6,992,313) (4,747,836)
Investing activities    
Acquisition of equipment (170,790) (42,863)
Advances 0 (125,153)
Provision of a loan receivable 0 (379,908)
Net cash used in investing activities (170,790) (547,924)
Financing activities    
Proceeds from issuance of shares, net of issue costs 0 4,552,409
Cash received on acquisition 266,635 0
Exercise of warrants 40,195 0
Proceeds from convertible loans 2,000,000 0
Proceeds from the exercise of options 18,166 0
Net cash provided by financing activities 2,324,996 4,552,409
Net increase in cash and cash equivalents for the year (4,838,107) (743,351)
Cash and cash equivalents, beginning of year 5,381,757 6,125,108
Cash and cash equivalents, end of year 543,650 $ 5,381,757
Assets acquired and liabilities assumed:    
Current assets, including cash of $266,635 478,843  
Equipment 59,749  
Intangible assets 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