Quarterly report pursuant to Section 13 or 15(d)

SHARE CAPITAL (Tables)

v3.19.3.a.u2
SHARE CAPITAL (Tables)
9 Months Ended
Dec. 31, 2019
SHARE CAPITAL  
Schedule of share capital

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2019

 

March 31, 2019

 

 

Number of

 

 

 

Number of

 

 

 

    

shares

    

$

    

shares

    

$

Exchangeable Shares

 

  

 

  

 

  

 

 

Balance beginning of period

 

196,799

 

197

 

295,146

 

295

Converted into common shares (a)

 

(57,210)

 

(57)

 

(98,347)

 

(98)

Balance at end of period

 

139,589

 

140

 

196,799

 

197

Common Shares

 

 

 

 

 

  

 

  

Balance at beginning of the period

 

3,661,838

 

3,661

 

1,368,856

 

1,369

Shares issued to exchangeable shareholders (a)

 

57,210

 

57

 

98,347

 

98

Shares issued on conversion of loans (b)

 

1,268,191

 

1,268

 

2,194,133

 

2,194

Share consolidation rounding adjustment (c)

 

 6

 

 —

 

502

 

 —

Balance at end of the period

 

4,987,245

 

4,986

 

3,661,838

 

3,661

TOTAL SHARES

 

5,126,834

 

5,126

 

3,858,637

 

3,858


(a)

During the nine months ended December 31, 2019 57,210 exchangeable shares were exchanged for common shares on a 1 for 1 basis in accordance with their terms. (March 31, 2019 – 98,347 shares)

(b)

On September 30, 2019 $9,143,927 of promissory notes and interest were converted into 1,268,191 common shares. These shareholders have price protection until June 10, 2022. During the year ended March 31, 2019, after the increase of the number of authorized shares to 500,000,000, the company issued the outstanding 263,639 common shares related to the March 31, 2018 promissory note conversion. In addition, there was a $2,048,697 gain recorded in the year connected to the difference of the market value of the shares, outstanding options and warrants at March 31, 2018 and their value at June 12, 2018, the time of the authorized share increase and share issuance. On July 20, 2018 the Company converted $4,708,306 of notes payable and interest into 683,395 common shares and on March 28, 2019 the Company converted $4,848,117 of notes payable and interest into 1,247,099 common shares.

(c)

On October 29, 2018, the Company completed a one-for-one hundred and fifty (1:150) reverse stock consolidation that has been reflected in all shares and per share amounts, warrants and options.