XML 45 R27.htm IDEA: XBRL DOCUMENT

BASIS OF PRESENTATION AND CHANGE IN ACCOUNTING POLICY (Tables)

12 Months Ended

Mar. 31, 2018

Schedule of Changes in Accounting Policy [Table Text Block]

The following financial statement line items for the year ended March 31, 2017 were affected by the change in accounting principle.

Income Statement

				As of
	As originally			March 31, 2017			Effect
	reported			As adjusted			of change
Sales	$	571,945		$	571,945		$	-
Cost of Sales		388,756			388,756			-
Total operating expenses		8,829,481			8,829,481			-
Total other expenses		(4,709,718	)		(576,890	)		(4,132,828	)
Net income (loss) and comprehensive loss for the Period		(3,936,574	)		(8,069,402	)		(4,132,828	)
Basic loss per share		(6.00	)		(13.19	)		(7.50	)
Diluted loss per share		(6.00	)		(13.19	)		(7.50	)

Balance sheet

As a result of the accounting policy change, the Company’s deficit as of April 1, 2017 increased from ($15,588,554), as originally reported under ASU No. 2016-01, to ($21,076,464) using ASU No. 2017-11.

	As originally reported			As at March 31, 2017 As adjusted			Effect of change
Balance Sheet
Current assets	$	1,402,580		$	1,402,580		$	-
Capital assets		227,421			227,421			-
Intangible assets		27,338,899			27,338,899			-
Total assets	$	28,968,900		$	28,968,900		$	-
Warrant derivative liability		959,600			-			(959,600	)
Other current liabilities		4,818,205			4,818,250			45
Total liabilities	$	5,777,805		$	4,818,250		$	(959,555	)
Common stock		645			645			-
Additional paid in capital		38,736,855			45,184,320			6,447,465
Deficit		(15,588,554	)		(21,076,464	)		(5,487,910	)
Accumulated other comprehensive income		42,149			42,149			-
Total shareholders’ equity	$	23,191,095		$	24,150,650		$	959,555
Total liabilities and shareholders’ equity	$	28,968,900		$	28,968,900		$	-

Statement of cash flows

	As originally reported			As at March 31, 2017 As adjusted			Effect of change
Net income (loss) for year	$	(3,936,574	)	$	(8,069,402	)	$	(4,132,828	)
Adjustment for items not affecting cash and changes in non-cash working capital items		(3,055,739	)		1,077,089			4,132,828
Net cash (used in) operating activities		(6,992,313	)		(6,992,313	)		-
Net cash (used in) investing activities		(170,790	)		(170,790	)		-
Net cash provided by financing activities		2,324,996			2,324,996			-
Net (decrease) in cash and cash equivalents for the year		(4,838,107	)		(4,838,107	)		-
Cash and cash equivalents, beginning of year		5,381,757			5,381,757			-
Cash and cash equivalents, end of year	$	543,650		$	543,650		$	-