Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Interim Statements of Cash Flows

v3.3.1.900
Condensed Consolidated Interim Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Operating activities    
Net loss for the period $ (7,634,146) $ (82,481)
Adjustment for items not affecting cash    
Depreciation of equipment 10,412 423
Imputed interest 0 45,063
Interest expense 179 17,124
Share compensation expense 371,637 0
Change in fair value of warrant derivative liability 6,387,473 0
Adjustments, Noncash Items, to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities (864,445) (19,871)
Changes in non-cash working capital items    
Prepaid expenses and other receivables (83,258) (409,680)
Accounts payable (71,773) 0
Accrued liabilities 193,993 (10,113)
Net cash used in operating activities (825,483) (439,664)
Investing activities    
Acquisition of equipment (38,820) 0
Net cash used in investing activities (38,820) 0
Financing activities    
Proceeds from issuance of shares, net of issue costs 6,788,988 0
(Repayment of) proceeds from loans payable 0 371,718
(Repayment of) proceeds from loans from related parties 0 (20,295)
Net cash provided by financing activities 6,788,988 351,423
Effects of foreign currency exchange rate changes (9,510) 89,442
Net increase in cash and cash equivalents for the period 5,915,175 1,201
Cash and cash equivalents, beginning of period 209,933 2,281
Cash and cash equivalents, end of period 6,125,108 3,482
Supplemental Information:    
Issuance of shares on conversion of loans $ 500,000 $ 0