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

TRANSITION PERIOD COMPARATIVE DATA (Tables)

v3.5.0.1
TRANSITION PERIOD COMPARATIVE DATA (Tables)
3 Months Ended
Mar. 31, 2016
Transition Period Comparative Data [Abstract]  
Transition Period Comparative Data [Table Text Block]
 
 
Three months
ended
 
 
 
March 31, 2015
(Unaudited)
 
 
 
 
$
 
Operating Data:
 
 
 
 
Expenses
 
 
 
 
Research and development
 
 
435,671
 
Professional and consulting fees
 
 
261,350
 
General and administrative
 
 
167,747
 
Depreciation
 
 
10,412
 
Share-based compensation expense
 
 
371,637
 
 
 
 
1,246,817
 
Other expenses (income)
 
 
 
 
Interest expense
 
 
179
 
Other income
 
 
(323)
 
Change in fair value of warrant derivative liability
 
 
6,387,473
 
Total other expense (income)
 
 
6,387,329
 
 
 
 
 
 
Net loss for the period
 
 
(7,634,146)
 
Foreign exchange translation adjustment for the period
 
 
24,799
 
Net loss and comprehensive loss for the period
 
 
(7,609,347)
 
Loss per share - basic and diluted
 
 
(0.14)
 
Weighted average number of shares outstanding – basic and diluted
 
 
52,726,746
 
 
 
 
 
 
Cash flow Data:
 
 
 
 
Net cash used in operating activities
 
 
(825,483)
 
Net cash used in investing activities
 
 
(38,820)
 
Net cash provided by financing activities
 
 
6,788,988
 
Effects of foreign currency exchange rate changes
 
 
(9,510)
 
Net increase in cash and cash equivalents for the period
 
 
5,915,175