ACQUISITION, TECHNOLOGY AND OTHER ASSETS (Tables)

9 Months Ended

12 Months Ended

Dec. 31, 2018

Mar. 31, 2018

Business Combinations [Abstract]

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

The following sets forth the purchase price allocation based on management’s best estimates of fair value, including a summary of major classes of consideration transferred and the recognized amounts of assets acquired and liabilities assumed at the acquisition date.

	As
	at April 21,
	2016
	$
Fair value of 23,650,000 shares of common stock (a)		23,177,000
Fair value of vested stock options (b)		2,582,890
Allocation of purchase price:		25,759,890
Cash and cash equivalents		266,635
Accounts receivable		6,490
Inventories		188,879
Prepaid expenses and other current assets		16,839
Equipment		59,749
Liabilities assumed:
Accounts payable		(241,299	)
Accrued liabilities		(361,029	)
Customer deposits		(86,487	)
Demand notes payable		(324,894	)
Promissory notes payable		(217,808	)
Bionik advance (d)		(1,436,164	)
Net assets acquired		(2,129,089	)
Patents and exclusive License Agreement		1,306,031
Trademark		2,505,907
Customer relationships		1,431,680
Non compete agreement		61,366
Assembled Workforce		275,720
Goodwill		22,308,275
		25,759,890

(a) The fair value of common stock was based on $147.00 per share, which was the closing market price of the Company’s common stock on April 21, 2016.

(b) The fair value of the vested stock options was determined using the Black Scholes option pricing model with the following key assumptions: a risk free rate of 1.59%, dividend and forfeiture rates of 0% and expected volatility of 114% which is consistent with the Company’s assumptions (Note 11).

(c) Pro forma information has not been presented for IMT as these operations have been consolidated for all days in the year ended March 31, 2017 except 20 days from April 20, 2016. These 20 days are not considered material.

(d) Included in the net assets acquired was a loan issued to IMT in the amount of $300,000 under normal commercial terms. The loan carried an interest rate of 6% and were secured by all the assets of IMT subject to a $200,000 subordination to a third party financial services company, which was released in April 2016.

Business Acquisition, Pro Forma Information [Table Text Block]

The schedule below reflects the intangible assets acquired in the IMT acquisition on April 21, 2016 and the asset amortization period and expense for the nine month period ended December 31, 2018 and the year ended March 31, 2018:

				Expense March		Value at March		Expense Dec.		Value at Dec..
Intangible	Amortization	Value acquired		31, 2018		31, 2018		31, 2018		31, 2018
assets acquired	period (years)	$		$		$		$		$
Patents and exclusive License Agreement	9.74		1,306,031		134,126		1,045,530		100,567		944,963
Trademark	Indefinite		2,505,907		-		2,505,907		-		2,505,907
Customer relationships	10		1,431,680		143,206		1,153,543		107,376		1,046,167
Non-compete agreement	2		61,366		30,709		1,739		1,739		-
Assembled Workforce	1		275,720		15,864		-		-		-
			5,580,704		323,905		4,706,719		209,682		4,497,037

(e) The schedule below reflects the intangible assets acquired in the IMT acquisition and the assets amortization period and expense for the year ended March 31, 2018:

Intangible assets acquired	Amortization period (years)		Value  acquired		Expense March 31, 2017		Value at March 31, 2017		Expense March 31, 2018		Value at March 31, 2018
			$		$		$		$		$
Patents and exclusive Licence Agreement		9.74 years		1,306,031		126,375		1,179,656		134,126		1,045,530
Trademark		Indefinite		2,505,907		-		2,505,907		-		2,505,907
Customer relationships		10		1,431,680		134,931		1,296,749		143,206		1,153,543
Non compete agreement		2		61,366		28,918		32,448		30,709		1,739
Assembled workforce		1		275,720		259,856		15,864		15,864		-
				5,580,704		550,080		5,030,624		323,905		4,706,719