General form of registration statement for all companies including face-amount certificate companies

ACQUISITION, TECHNOLOGY AND OTHER ASSETS (Details)

v3.10.0.1
ACQUISITION, TECHNOLOGY AND OTHER ASSETS (Details) - USD ($)
1 Months Ended
Apr. 21, 2016
Sep. 30, 2018
Mar. 31, 2018
Mar. 31, 2017
Business Acquisition [Line Items]        
Fair value of 23,650,000 shares of common stock [1] $ 23,177,000      
Fair value of vested stock options [2] 2,582,890      
Allocation of purchase price: 25,759,890      
Cash and cash equivalents 266,635      
Accounts receivable 6,490      
Inventories 188,879      
Prepaid expenses and other current assets 16,839      
Equipment 59,749      
Liabilities assumed:        
Accounts payable (241,299)      
Accrued liabilities (361,029)      
Customer deposits (86,487)      
Demand notes payable (324,894)      
Promissory notes payable (217,808)      
Bionik advance [3] (1,436,164)      
Net assets acquired (2,129,089)      
Goodwill 22,308,275 $ 22,308,275 $ 22,308,275 $ 22,308,275
Total Allocation of purchase price 25,759,890      
Patents and exclusive License Agreement [Member]        
Liabilities assumed:        
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill 1,306,031      
Customer Relationships [Member]        
Liabilities assumed:        
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill 1,431,680      
Non compete agreement [Member]        
Liabilities assumed:        
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill 61,366      
Assembled Workforce [Member]        
Liabilities assumed:        
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill 275,720      
Trademarks [Member]        
Liabilities assumed:        
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill $ 2,505,907      
[1] The fair value of common stock was based on $147.00 per share, which was the closing market price of the Company’s common stock on April 21, 2016.
[2] The fair value of the vested stock options was determined using the Black Scholes option pricing model with the following key assumptions: a risk free rate of 1.59%, dividend and forfeiture rates of 0% and expected volatility of 114% which is consistent with the Company’s assumptions (Note 11).
[3] Included in the net assets acquired was a loan issued to IMT in the amount of $300,000 under normal commercial terms. The loan carried an interest rate of 6% and were secured by all the assets of IMT subject to a $200,000 subordination to a third party financial services company, which was released in April 2016.