Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Interim Statements of Cash Flows

v3.8.0.1
Condensed Consolidated Interim Statements of Cash Flows - USD ($)
1 Months Ended 6 Months Ended
Apr. 21, 2016
Sep. 30, 2017
Sep. 30, 2016
Operating activities      
Net loss for the period   $ (5,855,877) $ (3,332,273)
Adjustment for items not affecting cash      
Depreciation   48,372 33,753
Amortization   169,934 0
Interest expense   234,463 10,031
Share based compensation expense   1,013,256 424,090
Adjustment for items not affecting cash   74,073 0
Shares issued for services   60,000 59,500
Allowance for doubtful accounts   (16,349) 0
Adjustments, Noncash Items, to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities   (4,272,128) (2,804,899)
Changes in non-cash working capital items      
Accounts receivable   363,056 (87,402)
Prepaid expenses and other receivables   58,760 91,430
Due from related parties   (698) (63)
Inventories   (3,193) (191,548)
Accounts payable   172,634 (696,874)
Accrued liabilities   644,955 (425,160)
Customer advances   (12,462) 41,800
Deferred revenue   (10,773) 108,482
Net cash used in operating activities   (3,059,849) (3,964,234)
Investing activities      
Acquisition of equipment   (17,182) (6,848)
Net cash used in investing activities   (17,182) (6,848)
Financing activities      
Proceeds from convertible loans   1,598,715 0
Proceeds on exercise of warrants   1,125,038 0
Repayment of Promissory notes principal   (12,319) 0
Repayment of Promissory notes interest   (41,973) 0
Cash acquired on acquisition   0 266,635
Net cash provided by financing activities   2,669,461 266,635
Net decrease in cash and cash equivalents for the period   (407,570) (3,704,447)
Cash and cash equivalents, beginning of period $ 5,381,757 543,650 5,381,757
Cash and cash equivalents, end of period   136,080 $ 1,677,310
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