Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Interim Statements of Cash Flows

v3.5.0.2
Condensed Consolidated Interim Statements of Cash Flows - USD ($)
3 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Operating activities    
Net loss for the period $ (2,322,772) $ (1,501,618)
Adjustment for items not affecting cash    
Depreciation 10,163 17,002
Interest expense 15,234 0
Share based compensation expense 159,818 1,297,558
Shares issued for services 59,500 0
Change in fair value of warrant derivative liability 391,059 (917,749)
Adjustments, Noncash Items, to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities (1,686,998) (1,104,807)
Changes in non-cash working capital items    
Accounts receivable (113,870) 0
Prepaid expenses and other receivables 60,142 (5,934)
Due from related parties (178) (671)
Inventories (71,380) 0
Accounts payable (703,526) (11,705)
Accrued liabilities (382,629) (299,676)
Net cash used in operating activities (2,898,439) (1,422,793)
Investing activities    
Acquisition of equipment 0 (30,917)
Provision of a loan receivable 0 (150,000)
Net cash used in investing activities 0 (180,917)
Financing activities    
Proceeds from issuance of shares, net of issue costs 0 4,552,409
Cash acquired on acquisition 266,635 0
Net cash provided by financing activities 266,635 4,552,409
Effects of foreign currency exchange rate changes 0 4,409
Net (decrease) increase in cash and cash equivalents for the period (2,631,804) 2,953,108
Cash and cash equivalents, beginning of period 5,381,757 6,125,108
Cash and cash equivalents, end of period 2,749,953 $ 9,078,216
Assets acquired and liabilities assumed:    
Current assets, including cash acquired of $266,635 478,843  
Equipment 59,749  
Intangible assets and goodwill 27,888,979  
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