Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Interim Statements of Cash Flows

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