Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Interim Statements of Cash Flows

v3.19.2
Condensed Consolidated Interim Statements of Cash Flows - USD ($)
3 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating activities    
Net loss for the year $ (2,120,644) $ (760,698)
Adjustment for items not affecting cash    
Depreciation 23,970 17,595
Amortization 69,314 71,053
Interest expense 13,283 36,702
Share based compensation expense 287,757 595,412
Accretion expense 0 134,251
Fair value Adjustment 0 44,087
Gain/Loss on mark to market re-evaluation 0 (2,048,697)
Allowance for doubtful accounts 0 (19,694)
Adjustments, Noncash Items, to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities (1,726,320) (1,929,989)
Changes in non-cash working capital items    
Accounts receivable 496,181 (137,756)
Prepaid expenses and other receivables 160,305 (51,793)
Due from related parties (483) 350
Inventories (176,376) 81,648
Accounts payable (93,835) 11,468
Accrued liabilities (41,434) (402,141)
Deferred revenue 58,016 7,117
Net cash (used in) operating activities (1,323,946) (2,421,096)
Investing activities    
Acquisition of equipment (42,802) (7,844)
Net cash (used in) investing activities (42,802) (7,844)
Financing activities    
Proceeds from convertible loans 950,000 2,934,298
Repayment of Demand notes principal 0 (50,000)
Repayment of Demand notes interest 0 (2,975)
Proceeds from short term loan 500,000 0
Net cash provided by financing activities 1,450,000 2,881,323
Net (decrease) in cash and cash equivalents for the period 83,252 452,393
Cash and cash equivalents, beginning of the period 446,779 507,311
Cash and cash equivalents, end of the period $ 530,031 $ 959,704