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

TRANSITION PERIOD COMPARATIVE DATA (Details)

v3.5.0.1
TRANSITION PERIOD COMPARATIVE DATA (Details) - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Dec. 31, 2015
Dec. 31, 2014
Mar. 31, 2016
Dec. 31, 2015
Mar. 31, 2015
Operating Data:              
Research and development $ 343,742 $ 435,671   $ 1,101,820 $ 1,397,554 $ 1,489,483 $ 1,537,491
Professional and consulting fees   261,350          
General and administrative 1,438,553 167,747   1,192,244 3,676,125 2,666,669 1,621,341
Depreciation 14,387 10,412   34,036 63,454 59,479 44,448
Share-based compensation expense 158,244 371,637   112,573 1,495,837 1,709,230 484,210
Operating Expenses, Total 1,954,926 1,246,817   2,440,673 6,632,970 5,924,861 3,687,490
Other expenses (income)              
Interest expense 0 179   6,212 2,839 3,018 6,391
Other income   (323)          
Change in fair value of warrant derivative liability (870,913) 6,387,473 $ (7,419,643) 0 (7,742,555) (484,124) 6,387,473
Total other expense (income)   6,387,329          
Net loss for the period (1,004,092) (7,634,146) 2,040,240 (2,464,747) 1,036,148 (5,593,906) (10,098,893)
Foreign exchange translation adjustment for the period 0 24,799 $ 0 (24,390) 0 24,799 409
Net loss and comprehensive loss for the period (1,004,092) $ (7,609,347)   (2,489,137) 1,036,148 (5,569,107) (10,098,484)
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 (1,038,390) $ (825,483)   (1,639,478) (4,747,836) (4,590,387) (2,464,961)
Net cash used in investing activities (196,935) (38,820)   (109,316) (547,924) (380,195) (148,136)
Net cash provided by financing activities 0 6,788,988   1,988,678 4,552,409 11,341,397 8,777,666
Effects of foreign currency exchange rate changes 0 (9,510)   (33,433) 0 36,334 (42,943)
Net increase in cash and cash equivalents for the period $ (1,235,325) $ 5,915,175   $ 206,451 $ (743,351) $ 6,407,149 $ 6,121,626