v3.10.0.1
Condensed Consolidated Interim Balance Sheets - USD ($)
Dec. 31, 2018
Mar. 31, 2018
Current    
Cash and cash equivalents $ 375,133 $ 507,311
Accounts receivable, net of allowance for doubtful accounts of $25,695 (March 31, 2018 - $19,694) 1,521,109 212,730
Prepaid expenses and other receivables (Note 5) 1,831,956 433,655
Inventories (Note 6) 335,606 237,443
Due from related parties (Note 9(a)) 17,989 18,897
Total Current Assets 4,081,793 1,410,036
Equipment (Note 7) 135,842 159,961
Technology and other assets (Note 4) 4,497,037 4,706,719
Goodwill 22,308,275 22,308,275
Total Assets 31,022,947 28,584,991
Current    
Accounts payable (Notes 9(b) and 13) 1,394,452 724,673
Accrued liabilities (Note 9(b)) 1,099,570 1,529,505
Customer advances 0 800
Demand loans (Note 8) 0 51,479
Convertible loans (Note 8(b)) 3,538,859 0
Deferred revenue 285,140 122,667
Shares to be issued, stock options and warrants (Notes 10, 11 and 12) 0 5,692,853
Total Current Liabilities 6,318,021 8,121,977
Shareholders' Equity    
Preferred Stock, par value $0.001; Authorized - 10,000,000; Special Voting Preferred Stock, par value $0.001 - Authorized, issued and outstanding - 1 (March 31, 2018 – 1) 0 0
Common Shares, par value $0.001; Authorized - 500,000,000 (March 31, 2018 – 250,000,000); Issued and outstanding - 2,337,964 and 273,574 Exchangeable Shares (March 31, 2018 – 1,368,856 and 295,146 Exchangeable Shares) 2,611 1,664
Additional paid in capital 67,570,756 56,195,541
Deficit (42,910,590) (35,776,340)
Accumulated other comprehensive income 42,149 42,149
Total Shareholders' Equity 24,704,926 20,463,014
Total Liabilities and Shareholders' Equity $ 31,022,947 $ 28,584,991

Source

v3.10.0.1
Condensed Consolidated Interim Statements of Operations and Comprehensive Loss - USD ($)
3 Months Ended 9 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2018
Dec. 31, 2017
Sales $ 930,257 $ 260,960 $ 1,978,675 $ 570,327
Cost of Sales 450,304 88,357 1,087,540 177,482
Gross Margin 479,953 172,603 891,135 392,845
Operating expenses        
Sales and marketing 515,439 432,260 1,485,423 1,313,077
Research and development 779,283 546,350 2,135,075 1,947,659
General and administrative 1,022,024 783,784 2,932,980 2,916,917
Share-based compensation expense (Note 11) 191,634 271,001 1,226,374 1,284,257
Amortization (Note 4) 69,314 76,985 209,682 246,920
Depreciation (Note 7) 15,969 21,234 50,190 69,606
Total operating expenses 2,593,663 2,131,614 8,039,724 7,778,436
Other (income) expenses        
Foreign exchange (47,709) (11,485) (116,715) 102,671
Accretion expense (Note 8) 316,642 216,302 2,421,060 290,375
Fair value adjustment (Note 8) 0 0 (337,923) 0
Gain on mark to market revaluation (Note 10) 0 0 (2,048,697) 0
Other expense 1,520 416,931 61,652 657,999
Total other expenses (income) 270,453 621,748 (20,623) 1,051,045
Net loss and comprehensive loss for the period $ (2,384,163) $ (2,580,759) $ (7,127,966) $ (8,436,636)
Loss per share - basic and diluted $ (0.91) $ (3.80) $ (3.14) $ (12.74)
Weighted average number of shares outstanding – basic 2,611,538 678,631 2,267,906 662,237
Weighted average number of shares outstanding – diluted 2,611,538 678,631 2,267,906 662,237

Source

v3.10.0.1
Condensed Consolidated Interim Statements of Cash Flows - USD ($)
9 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Operating activities    
Net loss for the period $ (7,127,966) $ (8,436,636)
Adjustment for items not affecting cash    
Depreciation 50,190 69,606
Amortization 209,682 246,920
Interest expense 129,933 640,168
Share based compensation expense 1,226,374 1,284,257
Shares issued for services 0 60,000
Accretion expense 2,421,060 290,375
Fair value adjustment (337,923) 0
Gain on mark to market revaluation (2,048,697) 0
Allowance for doubtful accounts 6,001 (16,349)
Adjustments, Noncash Items, to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities (5,471,346) (5,861,659)
Changes in non-cash working capital items    
Accounts receivable (1,314,380) 93,680
Prepaid expenses and other receivables (1,398,301) 83,003
Due from related parties 908 (643)
Inventories (98,163) (74,165)
Accounts payable 669,779 10,104
Accrued liabilities (429,935) 639,568
Customer advances (800) (120,762)
Deferred revenue 162,473 15,177
Net cash (used in) operating activities (7,879,765) (5,215,697)
Investing activities    
Acquisition of equipment (26,071) (17,182)
Net cash (used in) investing activities (26,071) (17,182)
Financing activities    
Proceeds from convertible loans 7,826,633 4,699,975
Proceeds on exercise of warrants 0 1,125,038
Repayment of promissory notes principal 0 (200,000)
Repayment of promissory notes interest 0 (49,505)
Repayment of demand notes principal (50,000) (208,359)
Repayment of demand notes interest (2,975) (79,259)
Proceeds from short term loan 0 400,000
Net cash provided by financing activities 7,773,658 5,687,890
Net decrease in cash and cash equivalents for the period (132,178) 455,011
Cash and cash equivalents, beginning of period 507,311 543,650
Cash and cash equivalents, end of period $ 375,133 $ 998,661

Source