v3.19.3
Condensed Consolidated Interim Balance Sheets - USD ($)
Sep. 30, 2019
Mar. 31, 2019
Current    
Cash and cash equivalents $ 4,674,868 $ 446,779
Accounts receivable, net of allowance for doubtful accounts of $Nil (March 31, 2019 - $Nil) 481,345 1,523,193
Prepaid expenses and other receivables (Note 5) 2,192,177 1,355,032
Inventories (Note 6) 1,037,058 405,682
Due from related parties (Note 9(a)) 18,932 18,585
Total Current Assets 8,404,380 3,749,271
Equipment (Note 7) 232,640 192,528
Technology and other assets (Note 4) 4,289,094 4,427,722
Goodwill 22,308,275 22,308,275
Total Assets 35,234,389 30,677,796
Current    
Accounts Payable (Notes 9(b)) 1,434,167 1,148,852
Accrued liabilities (Note 8 and 9(b)) 1,164,998 1,653,233
Convertible Loans (Note 8(a)) 70,117 0
Deferred revenue - Contract Liabilities 590,599 467,778
Total Current Liabilities 3,259,881 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 4,970,595 and 156,239 Exchangeable Shares (March 31, 2019 -3,661,838 and 196,799 Exchangeable Shares) 5,126 3,858
Additional paid in capital 83,787,934 73,719,299
Deficit (51,860,701) (46,357,373)
Accumulated other comprehensive income 42,149 42,149
Total Shareholders' Equity 31,974,508 27,407,933
Total Liabilities and Shareholders' Equity $ 35,234,389 $ 30,677,796

Source

v3.19.3
Condensed Consolidated Interim Statements of Operations and Comprehensive (Loss) - USD ($)
3 Months Ended 6 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Condensed Consolidated Interim Statements of Operations and Comprehensive (Loss)        
Sales $ 281,691 $ 547,085 $ 1,072,070 $ 1,048,418
Cost of Sales 83,207 384,073 419,292 637,236
Gross Margin 198,484 163,012 652,778 411,182
Operating expenses        
Sales and marketing 584,775 427,325 1,168,507 969,984
Research and development 886,060 679,049 1,702,583 1,355,792
General and administrative 1,199,938 931,477 2,041,631 1,910,956
Share-based compensation expense (Note 11) 638,219 439,328 925,976 1,034,740
Amortization (Note 4) 69,314 69,315 138,628 140,368
Depreciation (Note 7) 27,059 16,626 51,029 34,221
Total operating expenses 3,405,365 2,563,120 6,028,354 5,446,061
Other (income) expenses        
Accretion expense 0 1,970,167 0 2,104,418
Fair Value Adjustment 0 (382,010) 0 (337,923)
Gain/Loss on mark to market re-evaluation 0 0 0 (2,048,697)
Other expense 170,739 22,712 185,035 60,132
Foreign exchange 5,064 (27,872) (57,283) (69,006)
Total other expenses (income) 175,803 1,582,997 127,752 (291,076)
Net (loss) and comprehensive (loss) for the period $ (3,382,684) $ (3,983,105) $ (5,503,328) $ (4,743,803)
Loss per share - basic and diluted $ (0.87) $ (1.62) $ (1.42) $ (2.02)
Weighted average number of shares outstanding - basic and diluted 3,872,428 2,459,169 3,865,573 2,351,587

Source

v3.19.3
Condensed Consolidated Interim Statements of Cash Flows - USD ($)
6 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating activities    
Net loss for the period $ (5,503,328) $ (4,743,803)
Adjustment for items not affecting cash    
Depreciation 51,029 34,221
Amortization 138,628 140,368
Interest expense 167,877 57,716
Share based compensation expense 925,976 1,034,740
Accretion expense 0 2,104,418
Fair Value Adjustment 0 (337,923)
Gain/Loss on mark to market re-evaluation 0 (2,048,697)
Allowance for doubtful accounts 0 (1,995)
Adjustments, Noncash Items, to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities (4,219,818) (3,760,955)
Changes in non-cash working capital items    
Accounts receivable 1,041,848 (303,033)
Prepaid expenses and other receivables (837,145) (417,524)
Due from related parties (347) (16)
Inventories (631,376) 44,817
Accounts payable 285,315 181,765
Accrued liabilities (512,068) (567,320)
Customer advances 0 (800)
Deferred revenue 122,821 11,494
Net cash (used in) operating activities (4,750,770) (4,811,572)
Investing activities    
Acquisition of equipment (91,141) (13,640)
Net cash (used in) investing activities (91,141) (13,640)
Financing activities    
Proceeds from convertible loans 9,070,000 4,676,633
Repayment of Demand notes principal 0 (50,000)
Repayment of Demand notes interest 0 (2,975)
Proceeds from short term loan 500,000 0
Repayment of short term loan (500,000) 0
Net cash provided by financing activities 9,070,000 4,623,658
Net increase (decrease) in cash and cash equivalents for the period 4,228,089 (201,554)
Cash and cash equivalents, beginning of period 446,779 507,311
Cash and cash equivalents, end of period $ 4,674,868 $ 305,757

Source