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Stockholders' Deficiency (Tables)
12 Months Ended
Mar. 31, 2020
Schedule of Warrants Outstanding

Warrant issuances, exercises and expirations or cancellations during the years ended March 31, 2020 and 2019, were as follows, resulting in warrants outstanding at the end of those respective periods:

 

    Broker Warrants     Consultant and Noteholder Warrants     Warrants Issued on Conversion of Convertible Notes     Private Placement Warrants     Total  
As at December 31, 2015     271,742       380,000       -       -       651,742  
RTO adjustment*     53,507       74,860       -       -       128,367  
After RTO     325,249       454,860       -       -       780,109  
Less: Exercised     -       (131,365 )     -       -       (131,365 )
Less: Expired/cancelled     -       (285,279 )     -       -       (285,279 )
Add: Issued     55,433       878,250       -       390,744       1,324,427  
As at March 31, 2017     380,682       916,466       -       390,744       1,687,892  
Less: Exercised     (222,690 )     (140,000 )     -       -       (362,690 )
Less: Expired/cancelled     (19,935 )     (380,300 )     -       -       (400,235 )
Add: Issued     246,095       273,806       2,734,530       772,978       4,027,409  
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     -       (342,416 )     -       -       (342,416 )
Add: Issued     -       849,601       -       -       849,601  
As at March 31, 2019     321,314       1,177,157 **     2,734,530       1,163,722       5,396,723  
Less: Expired/cancelled     -       (148,750 )     -       -       (148,750 )
Add: Issued     -       1,021,430       -       -       1,021,430  
As at March 31, 2020     321,314       2,049,837 **     2,734,530       1,163,722       6,269,403  
Exercise Price     $0.78-$3.00       $0.48-$7.59       2.00       3.00          
Expiration Date     March 2022 to July 2022       April 2020 to March 2023       March 2020 to November 2022       April 2020 to July 2020          

 

 

*As explained above, on February 2, 2016 all outstanding warrants at that time had been increased by a factor of 1.197.

 

**Consultant Warrants do not include 188,806 warrants provided to an officer of the Company as compensation while he was not a member of any Company options plan, otherwise disclosed in Note 9 under stock-based compensation.

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-nominal lattice model using the following assumptions, for each of the respective years ended March 31:

 

    2020     2019     2018  
Exercise price ($)     1.40-2.00       1.40-2.00       3.69-7.59  
Risk free interest rate (%)     0.52-2.81       2.27-2.81       1.98-2.39  
Expected term (Years)     2.0-3.0       2.0-3.0       3.0  
Expected volatility (%)     97.8-141.1       97.8-141.1       139.75-145.99  
Expected dividend yield (%)     0.00       0.00       0.00  
Fair value of option ($)     0.76       0.588       1.032  
Expected forfeiture (attrition) rate (%)     0.00       0.00       0.00  
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 ($)  
Granted     3,591,000       0.0001  
Exercised     (3,390,503 )     0.0001  
Outstanding as of December 31, 2015     200,497       0.0001  
Cancelled during 2016     (35,907 )     0.0001  
Outstanding as of March 31, 2018     164,590       0.0001  
Exercised     (164,590 )     0.0001  
Outstanding as of March 31, 2020 and 2019     -       -  
2016 Equity Incentive Plan [Member]  
Schedule of Stock Option Activities
    Number of options     Weighted average exercise price ($)  
Granted     2,709,998       2.2031  
Exercised     -       -  
Outstanding as of March 31, 2017     2,709,998       2.2031  
Granted     1,437,500       5.1676  
Exercised     -       -  
Outstanding as of March 31, 2018     4,147,498       3.2306  
Granted     270,521       1.8096  
Exercised     -       -  
Outstanding as of March 31, 2019     4,418,019       3.1436  
Granted     88,100       0.7763  
Expired     (112,509 )     2.723  
Exercised     -       -  
Outstanding as of March 31, 2020     4,393,610       3.1069