v3.20.2
Condensed Consolidated Interim Balance Sheets - USD ($)
Jun. 30, 2020
Mar. 31, 2020
Current    
Cash and cash equivalents $ 2,403,037 $ 2,269,747
Accounts receivable, net of allowance for doubtful accounts of $Nil (March 31, 2020 - $167,500) 975,272 846,964
Prepaid expenses and other receivables (Note 5) 1,723,353 1,632,555
Inventories (Note 6) 944,990 1,059,462
Due from related parties (Note 9(a)) 18,657 17,840
Total Current Assets 6,065,309 5,826,568
Equipment (Note 7) 136,032 154,144
Technology and other assets (Note 4) 1,426,420 1,449,924
Goodwill (Note 3) 11,085,984 11,085,984
Total Assets 18,713,745 18,516,620
Current    
Accounts Payable (Notes 9(b)) 443,874 857,093
Accrued liabilities (Notes 8 and 9(b)) 2,057,784 1,647,656
PPP Loan (Note 8 (c)) 459,912 0
Convertible Loans (Note 8(a) (b)) 3,452,680 2,078,833
Deferred revenue - Contract Liabilities 582,281 616,063
Total Current Liabilities 6,996,531 5,199,645
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, 2020 - 1) 0 0
Common Shares, par value $0.001; Authorized - 500,000,000; Issued and outstanding 5,009,151 and 117,683 Exchangeable Shares (March 31, 2020 5,009,151 and 117,683 Exchangeable Shares) 5,126 5,126
Additional paid in capital 85,050,885 84,643,570
Deficit (73,380,946) (71,373,870)
Accumulated other comprehensive income 42,149 42,149
Total Shareholders' Equity 11,717,214 13,316,975
Total Liabilities and Shareholders' Equity $ 18,713,745 $ 18,516,620

Source

v3.20.2
Condensed Consolidated Interim Statements of Operations and Comprehensive Loss - USD ($)
3 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Condensed Consolidated Interim Statements of Operations and Comprehensive Loss    
Sales $ 257,908 $ 790,379
Cost of Sales 62,555 336,085
Gross Margin 195,353 454,294
Operating expenses    
Sales and marketing 223,185 583,732
Research and development 353,263 816,523
General and administrative 1,128,510 841,693
Share-based compensation expense (Notes 11) 407,315 287,757
Amortization (Note 4) 23,504 69,314
Depreciation (Note 7) 18,112 23,970
Total operating expenses 2,153,889 2,622,989
Other (income) expenses    
Other expense 74,975 14,296
Other income (37,612) 0
Foreign exchange 11,177 (62,347)
Total other income (expenses) 48,540 (48,051)
Net loss and comprehensive loss for the period $ (2,007,076) $ (2,120,644)
Loss per share - basic and diluted $ (0.39) $ (0.55)
Weighted average number of shares outstanding - basic and diluted 5,126,834 3,858,637

Source

v3.20.2
Condensed Consolidated Interim Statements of Cash Flows - USD ($)
3 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating activities    
Net loss for the period $ (2,007,076) $ (2,120,644)
Adjustment for items not affecting cash    
Depreciation 18,112 23,970
Amortization 23,504 69,314
Interest expense 74,975 13,283
Share based compensation expense 407,315 287,757
Adjustments, Noncash Items, to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities (1,483,170) (1,726,320)
Changes in non-cash working capital items    
Accounts receivable (128,308) 496,181
Prepaid expenses and other receivables (90,798) 160,305
Due from related parties (817) (483)
Inventories 114,472 (176,376)
Accounts payable (413,219) (93,835)
Accrued liabilities 406,425 (41,434)
Deferred revenue (33,782) 58,016
Net cash (used in) operating activities (1,629,197) (1,323,946)
Investing activities    
Acquisition of equipment 0 (42,802)
Net cash (used in) investing activities 0 (42,802)
Financing activities    
Proceeds from convertible loans 1,302,575 950,000
Proceeds from PPP Loan 459,912 0
Proceeds from term loan 0 500,000
Net cash provided by financing activities 1,762,487 1,450,000
Net increase in cash and cash equivalents for the period 133,290 83,252
Cash and cash equivalents, beginning of the period 2,269,747 2,269,747
Cash and cash equivalents, end of the period $ 2,403,037 $ 530,031

Source