v3.8.0.1
Condensed Consolidated Interim Balance Sheets - USD ($)
Sep. 30, 2017
Mar. 31, 2017
Current    
Cash and cash equivalents $ 136,080 $ 543,650
Accounts receivable, net of allowance for doubtful accounts of $16,349 (March 31, 2017 - $10,000) 37,196 383,903
Prepaid expenses and other receivables (Note 5) 169,287 228,047
Inventories (Note 6) 231,442 228,249
Due from related parties (Note 9(a)) 19,429 18,731
Total Current Assets 593,434 1,402,580
Equipment (Note 7) 196,231 227,421
Technology and other assets (Note 4) 4,860,690 5,030,624
Goodwill (Note 4) 22,308,275 22,308,275
Total Assets 27,958,630 28,968,900
Current    
Accounts Payable (Notes 9(b)) 957,360 784,726
Accrued liabilities (Notes 8 and 9(b)) 1,873,613 1,228,657
Customer advances 109,100 121,562
Demand Notes Payable (Note 8) 335,309 330,600
Promissory Notes payable (Note 8) 192,154 236,548
Convertible Loans Payable (Note 8(a) and (b)) 3,530,095 2,017,488
Deferred revenue 87,851 98,624
Total Current Liabilities 7,085,482 4,818,205
Shareholders’ Equity    
Common Shares, par value $0.001; Authorized - 250,000,000 (March 31, 2017 - 150,000,000); Issued and outstanding 53,885,279 and 47,909,336 Exchangeable Shares (March 31, 2017 - 48,885,107 and 47,909,336 Exchangeable Shares) (Notes 10 and 15) 101,794 96,794
Additional paid in capital 47,642,526 45,088,171
Shares to be issued (Note 10) 60,000 0
Deficit (26,973,321) (21,076,419)
Accumulated other comprehensive income 42,149 42,149
Total Shareholders’ Equity 20,873,148 24,150,695
Total Liabilities and Shareholders’ Equity 27,958,630 28,968,900
Special Voting Preferred Stock [Member]    
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, 2017 - 1) $ 0 $ 0

Source

v3.8.0.1
Condensed Consolidated Interim Statements of Operations and Comprehensive Loss - USD ($)
3 Months Ended 6 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Sales $ 221,847 $ 18,283 $ 309,367 $ 182,474
Cost of Sales 59,825 12,019 89,125 70,894
Gross Margin 162,022 6,264 220,242 111,580
Operating expenses        
Sales and marketing 435,294 187,265 880,817 269,463
Research and development 715,400 813,773 1,401,309 1,231,563
General and administrative 1,505,528 577,853 2,133,134 1,881,467
Share compensation expense (Note 11) 762,208 204,842 1,013,256 424,090
Convertible debt accretion (Note 8) 74,073 0 74,073 0
Amortization (Note 4) 76,985 0 169,934 0
Depreciation (Note 7) 23,820 23,590 48,372 33,753
Total operating expenses 3,593,308 1,807,323 5,720,895 3,840,336
Other expenses (income)        
Foreign Exchange 15,595 0 114,156 0
Interest expense (income) (Note 8) 167,594 (5,203) 240,360 10,031
Other income 886 (395,296) 708 (406,514)
Total other expenses (income) 184,075 (400,499) 355,224 (396,483)
Net loss and comprehensive loss for the period $ (3,615,361) $ (1,400,560) $ (5,855,877) $ (3,332,273)
Loss per share - basic $ (0.04) $ (0.02) $ (0.06) $ (0.04)
Loss per share - diluted $ (0.04) $ (0.02) $ (0.06) $ (0.04)
Weighted average number of shares outstanding - basic 101,794,615 85,924,462 99,335,514 87,232,426
Weighted average number of shares outstanding - diluted 101,794,615 85,924,462 99,335,514 87,232,426

Source

v3.8.0.1
Condensed Consolidated Interim Statements of Cash Flows - USD ($)
1 Months Ended 6 Months Ended
Apr. 21, 2016
Sep. 30, 2017
Sep. 30, 2016
Operating activities      
Net loss for the period   $ (5,855,877) $ (3,332,273)
Adjustment for items not affecting cash      
Depreciation   48,372 33,753
Amortization   169,934 0
Interest expense   234,463 10,031
Share based compensation expense   1,013,256 424,090
Adjustment for items not affecting cash   74,073 0
Shares issued for services   60,000 59,500
Allowance for doubtful accounts   (16,349) 0
Adjustments, Noncash Items, to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities   (4,272,128) (2,804,899)
Changes in non-cash working capital items      
Accounts receivable   363,056 (87,402)
Prepaid expenses and other receivables   58,760 91,430
Due from related parties   (698) (63)
Inventories   (3,193) (191,548)
Accounts payable   172,634 (696,874)
Accrued liabilities   644,955 (425,160)
Customer advances   (12,462) 41,800
Deferred revenue   (10,773) 108,482
Net cash used in operating activities   (3,059,849) (3,964,234)
Investing activities      
Acquisition of equipment   (17,182) (6,848)
Net cash used in investing activities   (17,182) (6,848)
Financing activities      
Proceeds from convertible loans   1,598,715 0
Proceeds on exercise of warrants   1,125,038 0
Repayment of Promissory notes principal   (12,319) 0
Repayment of Promissory notes interest   (41,973) 0
Cash acquired on acquisition   0 266,635
Net cash provided by financing activities   2,669,461 266,635
Net decrease in cash and cash equivalents for the period   (407,570) (3,704,447)
Cash and cash equivalents, beginning of period $ 5,381,757 543,650 5,381,757
Cash and cash equivalents, end of period   136,080 $ 1,677,310
Assets acquired and liabilities assumed as at April 21, 2016:      
Current assets, including cash of $266,635 478,843    
Equipment 59,749    
Intangible assets 5,580,704 $ 5,580,704  
Goodwill 22,308,275    
Accounts payable (241,299)    
Accrued liabilities (361,029)    
Customer deposits (86,487)    
Demand notes payable (324,894)    
Promissory Notes payable (217,808)    
Bionik advance (1,436,164)    
Non-cash consideration $ 25,759,890    

Source