British Columbia, Canada
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001-37619
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N/A
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(State or Other Jurisdiction of
Incorporation)
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(Commission File
Number)
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(IRS Employer Identification
No.)
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100 Spy Court
Markham, Ontario, Canada L3R 5H6
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(Address of Principal Executive
Offices)
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Title of each
class
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Trading
Symbol(s)
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Name of exchange
on which registered
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Common Shares
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EDSA
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Exhibit No.
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Description
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Press release issued by Edesa
Biotech, Inc. dated May 15, 2020.
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Edesa Biotech,
Inc.
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Date: May 15,
2020
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By:
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/s/
Kathi Niffenegger
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Name:
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Kathi
Niffenegger
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Title:
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Chief Financial
Officer
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Three Months
Ended
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Six Months
Ended
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||
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March 31, 2020
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March 31, 2019
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March 31, 2020
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March 31, 2019
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Total Revenues
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$110,516
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$-
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$218,316
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$-
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Expenses:
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Cost
of sales and services
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10,037
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-
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13,815
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-
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Research
and development
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502,814
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111,702
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1,030,812
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369,093
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General
and administrative
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1,113,917
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429,076
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1,795,623
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577,426
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1,626,768
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540,778
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2,840,250
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946,519
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Loss from Operations
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(1,516,252)
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(540,778)
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(2,621,934)
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(946,519)
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Other Income
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26,616
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11,948
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38,765
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52,840
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Income tax expense
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-
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-
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800
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-
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Net Loss
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(1,489,636)
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(528,830)
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(2,583,969)
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(893,679)
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Exchange
differences on translation
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(39,908)
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73,253
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(21,794)
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91,013
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Net Loss and Comprehensive Loss
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$(1,529,544)
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$(455,577)
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$(2,605,763)
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$(802,666)
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Weighted
average number of common shares outstanding
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8,740,065
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3,239,902
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8,118,891
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3,239,902
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Loss per share - basic and diluted
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$(0.17)
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$(0.16)
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$(0.32)
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$(0.28)
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March
31,
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September
30,
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2020
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2019
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Assets:
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Cash and cash
equivalents
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$6,989,930
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$5,030,583
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Other current
assets
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436,092
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614,123
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Operating lease
right-of-use assets
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181,492
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-
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Property and
equipment, net
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25,110
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73,058
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Total
Assets
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$7,632,624
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$5,717,764
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Liabilities
and Shareholders' Equity:
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Current
liabilities
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$578,938
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$461,634
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Noncurrent
liabilities
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122,743
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-
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Shareholders'
equity
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6,930,943
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5,256,130
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Total
Liabilities and Shareholders' Equity
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$7,632,624
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$5,717,764
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Six Months
Ended
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March 31, 2020
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March 31, 2019
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Cash flows from operating activities:
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Net
loss
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$(2,583,969)
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$(893,679)
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Adjustments
for non-cash items
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432,400
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25,796
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Change
in working capital items
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191,410
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86,655
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Net cash used in operating activities
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(1,960,159)
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(781,228)
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Net cash provided by (used in) investing activities
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42,359
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(1,504)
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Net cash provided by financing activities
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3,891,801
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-
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Effect
of exchange rate changes on cash and cash equivalents
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(14,654)
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94,643
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Net
change in cash and cash equivalents
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1,959,347
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(688,089)
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Cash
and cash equivalents, beginning of period
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5,030,583
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3,730,230
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Cash and cash equivalents, end of period
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$6,989,930
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$3,042,141
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