Transition report pursuant to Rule 13a-10 or 15d-10

Consolidated Balance Sheets

v3.5.0.1
Consolidated Balance Sheets - USD ($)
Mar. 31, 2016
Dec. 31, 2015
Mar. 31, 2015
Dec. 31, 2014
Mar. 31, 2014
Current          
Cash and cash equivalents $ 5,381,757 $ 6,617,082 $ 6,125,108 $ 209,933 $ 3,482
Prepaid expenses and other receivables (Note 3) 231,733 188,217 158,419 81,130  
Due from related parties (Note 7) 41,445 38,554 41,480 44,986  
Short term advances (Note 4) 125,153 0 0 0  
Loans receivable (Note 4) 379,908 307,459 0 0  
Total Current Assets 6,159,996 7,151,312 6,325,007 336,049  
Equipment (Note 5) 76,750 87,103 100,629 77,922  
Total Assets 6,236,746 7,238,415 6,425,636 413,971  
Current          
Accounts payable (Note 7) 320,871 134,718 208,787 308,947  
Accrued liabilities (Note 7) 515,979 57,840 332,946 155,463  
Warrant derivative liability (Note 10) 5,135,990 6,067,869 8,382,648 0  
Total Liabilities 5,972,840 6,260,427 8,924,381 464,410  
Shareholders' Equity (Deficiency)          
Special Voting Preferred Stock, par value $0.001; Authorized - 1; Issued and outstanding - 1 (December 31, 2014 - Nil) 0 0 0 0  
Common Shares, par value $0.001; Authorized - 150,000,000 (December 31, 2014 - 200,000,000); Exchangeable Shares; Authorized - Unlimited, Common shares Issued and outstanding - 22,591,292, 15,839,563, 22,428,313, nil; Exchangeable Shares Issued and Outstanding - 50,000,000 (December 31, 2014 - 49,737,096) (Note 8) 72,591 72,428 65,840 49,737  
Additional paid-in capital 11,801,146 11,412,399 10,081,394 4,936,456  
Shares to be issued (Note 8(xiii)) 0 98,900 0 0  
Deficit (11,651,980) (10,647,888) (12,688,128) (5,053,982)  
Accumulated other comprehensive income 42,149 42,149 42,149 17,350  
Total Shareholders' Equity (Deficiency) 263,906 977,988 (2,498,745) (50,439) $ (774,626)
Total Liabilities and Shareholders' Equity (Deficiency) $ 6,236,746 $ 7,238,415 $ 6,425,636 $ 413,971