XML 18 R22.htm IDEA: XBRL DOCUMENT v3.19.3
Stockholders' Deficiency (Tables)
6 Months Ended
Sep. 30, 2019
Schedule of Warrants Outstanding

Warrant issuances, exercises and expirations or cancellations during the three months ended June 30, 2019 and preceding periods resulted in warrants outstanding at the end of those respective periods as follows:

 

    Broker
Warrants
    Consultant
Warrants
    Warrants
Issued on
Conversion of
Convertible
Notes
    Private
Placement
Warrants
    Total  
As at March 31, 2018     384,152       669,972 *     2,734,530       1,163,722       4,952,376  
                                         
Less: Exercised     (62,838 )     -       -       -       (62,838 )
Less: Expired/cancelled     -       (31,250 )     -       -       (31,250 )
Add: Issued     -       65,000       -       -       65,000  
As at June 30, 2018     321,314       703,722 *     2,734,530       1,163,722       4,923,288  
                                         
Less: Exercised     -       -       -       -       -  
Less: Expired/cancelled     -       -       -       -          
Add: Issued     -       393,333       -       -       393,333  
As at September 30 2018     321,314       1,097,055 *     2,734,530       1,163,722       5,316,621  
                                         
Less: Exercised     -       -       -       -       -  
Less: Expired/cancelled     -       (126,250 )**     -       -       (126,250 )
Add: Issued     -       50,000       -       -       50,000  
As at December 31, 2018     321,314       1,020,805 *     2,734,530       1,163,722       5,240,371  
                                         
Less: Exercised     -       -       -       -       -  
Less: Expired/cancelled     -       (184,916 )**     -       -       (184,916 )
Add: Issued     -       341,268       -       -       341,268  
As at March 31, 2019     321,314       1,177,157 *     2,734,530       1,163,722       5,396,723  
                                         
Less: Exercised     -       -       -       -       -  
Less: Expired/cancelled     -       (5,000 )     -       -       (5,000 )
Add: Issued     -       83,750       -       -       83,750  
As at June 30, 2019     321,314       1,255,907 *     2,734,530       1,163,722       5,475,473  
                                         
Less: Exercised     -       -       -       -       -  
Less: Expired/cancelled     -       (10,000 )     -       -       (10,000 )
Add: Issued     -       311,350       -       -       311,350  
As at September 30, 2019     321,314       1,557,257 *     2,734,530       1,163,722       5,776,823  
                                         
Exercise Price   $ 0.78-$3.00     $ 0.48-$7.59       2.00       3.00          
Expiration Date     March 2022 to July 2022       September 2019 to June 2022       March 2020 to November 2022       April 2020 to July 2020          

 

*Consultant Warrants include warrants issued to directors and officers of the Company who were not members of the Company’s options plan at the time of issuance. As at September 30, 2019, Consultant Warrants include an aggregate of 488,806 warrants provided to an officer of the Company as compensation while he was not a member of any Company options plan.

 

** Subsequent to September 30, 2019, 149,626 warrants issued to brokers expired unexercised.

Schedule of Fair Value of Option Granted using Valuation Assumptions

The fair value of each option granted is estimated at the time of grant using multi-nomial lattice model using the following assumptions:

 

    2019     2017-2018     2016-2017     2015-2016  
Exercise price ($)     0.58       1.24-7.59       2.00 – 2.58       0.0001  
Risk free interest rate (%)     1.63-2.5        1.98-2.81       0.45 - 1.47       0.04 - 1.07  
Expected term (Years)     3       3       1 - 3       10  
Expected volatility (%)     114.3 to 129.2       97.8-145.99       101 – 105       94  
Expected dividend yield (%)     0       0       0       0  
Fair value of option ($)     0.212       0.6       0.88       0.74  
Expected forfeiture (attrition) rate (%)     0.00       0.00       0.00 – 5.00       5.00 - 20.00  

2015 Equity Incentive Plan [Member]  
Schedule of Stock Option Activities

The following table summarizes the stock option activities of the Company:

 

   

Number of

options

   

Weighted

average exercise price ($)

 
Granted     3,591,000       0.0001  
Exercised     (3,390,503 )     0.0001  
Outstanding as of December 31, 2015     200,497       0.0001  
Cancelled during 2016     (35,907 )     0.0001  
Outstanding as of March 31, 2018     164,590       0.0001  
Exercised     (164,590 )     0.0001  
Outstanding as of September 30 and March 31, 2019     -          

2016 Equity Incentive Plan [Member]  
Schedule of Stock Option Activities

The following table summarizes the stock option activities of the Company:

 

   

Number of

options

   

Weighted

average exercise price ($)

 
Granted     4,418,019       3.1436  
Exercised     -       -  
Outstanding as of June 30and March 31, 2019     4,418,019       3.1436  
Granted     5,000       1.2500  
Exercised     -       -  
Outstanding as of September 30, 2019     4,423,019       3.1414