12.

Restatement

The Company restated its consolidated financial statements as at March 31, 2014 and for the year then ended to reflect further impairment of its intangible asset. This restatement was filed in an amended Form-10K for the year ended March 31, 2014.

The impact of the restatement as at December 31, 2014 and for the nine months then ended is summarized below:

Consolidated Balance Sheet

	As At December 31, 2014
	As Reported $			Adjustment $			As Restated $

Assets

Intangible assets		22,547,338			(9,540,724	)		13,006,614

Stockholders’ Equity (Deficit)

Deficit		(42,962,855	)		(9,540,724	)		(52,503,579	)