v3.19.2
Condensed Consolidated Interim Balance Sheets - USD ($)
Jun. 30, 2019
Mar. 31, 2019
Current    
Cash and cash equivalents $ 530,031 $ 446,779
Accounts receivable, net of allowance for doubtful accounts of $Nil (March 31, 2019 - $Nil) 1,027,012 1,523,193
Prepaid expenses and other receivables (Note 5) 1,194,727 1,355,032
Inventories (Note 6) 582,058 405,682
Due from related parties (Note 9(a)) 19,068 18,585
Total Current Assets 3,352,896 3,749,271
Equipment (Note 7) 211,360 192,528
Technology and other assets (Note 4) 4,358,408 4,427,722
Goodwill 22,308,275 22,308,275
Total Assets 30,230,939 30,677,796
Current    
Accounts Payable (Notes 9(b)) 1,055,017 1,148,852
Accrued liabilities (Note 8 and 9(b)) 1,620,632 1,653,233
Convertible Loans (Note 8(a)) 954,450 0
Deferred revenue - Contract Liabilities 525,794 467,778
Total Current Liabilities 4,155,893 3,269,863
Term loan (Note 8(b)) 500,000 0
Total Liabilities 4,655,893 3,269,863
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, 2019 - 1)
Common Shares, par value $0.001; Authorized - 500,000,000 (March 31, 2019 - 500,000,000); Issued and outstanding 3,702,398 and 156,239 Exchangeable Shares (March 31, 2019 -3,661,838 and 196,799 Exchangeable Shares) 3,858 3,858
Additional paid in capital 74,007,056 73,719,299
Deficit (48,478,017) (46,357,373)
Accumulated other comprehensive income 42,149 42,149
Total Shareholders' Equity 25,575,046 27,407,933
Total Liabilities and Shareholders' Equity $ 30,230,939 $ 30,677,796

Source

v3.19.2
Condensed Consolidated Interim Statements of Operations and Comprehensive Loss - USD ($)
3 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Condensed Consolidated Interim Statements of Operations and Comprehensive Loss    
Sales $ 790,379 $ 501,333
Cost of Sales 336,085 253,163
Gross Margin 454,294 248,170
Operating expenses    
Sales and marketing 583,732 542,659
Research and development 816,523 676,743
General and administrative 841,693 979,479
Share-based compensation expense (Note 11) 287,757 595,412
Amortization (Note 4) 69,314 71,053
Depreciation (Note 7) 23,970 17,595
Total operating expenses 2,622,989 2,882,941
Other (income) expenses    
Accretion expense 0 134,251
Fair Value Adjustment 0 44,087
Gain/Loss on mark to market re-evaluation 0 (2,048,697)
Other expense 14,296 37,420
Foreign exchange (62,347) (41,134)
Total other expenses (48,051) (1,874,073)
Net loss and comprehensive loss for the period $ (2,120,644) $ (760,698)
Loss per share - basic and diluted $ (0.55) $ (0.44)
Weighted average number of shares outstanding - basic and diluted 3,858,637 1,716,728

Source

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

Source