Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Mar. 29, 2018 | Jun. 30, 2017 | |
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2017 | ||
Trading Symbol | igxt | ||
Entity Registrant Name | IntelGenx Technologies Corp. | ||
Entity Central Index Key | 1,098,880 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Common Stock, Shares Outstanding | 67,731,467 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well Known Seasoned Issuer | No | ||
Entity Public Float | $ 54,454,267 | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Current | ||
Cash | $ 1,591 | $ 612 |
Short-term investments | 3,313 | 3,884 |
Accounts receivable | 623 | 1,044 |
Prepaid expenses | 203 | 566 |
Investment tax credits receivable | 314 | 246 |
Total current assets | 6,044 | 6,352 |
Leasehold improvements and equipment, net | 6,346 | 5,730 |
Security deposits | 757 | 708 |
Total assets | 13,147 | 12,790 |
Current | ||
Accounts payable and accrued liabilities | 1,305 | 897 |
Current portion of long-term debt | 772 | 704 |
Deferred revenue | 0 | 3,634 |
Total current liabilities | 2,077 | 5,235 |
Deferred lease obligations | 50 | 45 |
Long-term debt | 1,992 | 2,565 |
Convertible debentures | 5,199 | 0 |
Total liabilities | 9,318 | 7,845 |
Shareholders' equity | ||
Capital stock, common shares, $0.00001 par value; 100,000,000 shares authorized; 67,031,467 shares issued and outstanding (2016: 64,812,020 common shares) | 1 | 1 |
Additional paid-in capital | 25,253 | 23,700 |
Accumulated deficit | (20,788) | (17,737) |
Accumulated other comprehensive loss | (637) | (1,019) |
Total shareholders' equity | 3,829 | 4,945 |
Total liabilities and shareholders' equity | $ 13,147 | $ 12,790 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Dec. 31, 2017 | Dec. 31, 2016 |
Common Stock, Par Value Per Share | $ 0.00001 | $ 0.00001 |
Common Stock, Shares Authorized | 100,000,000 | 100,000,000 |
Common Stock, Shares, Issued | 67,031,467 | 64,812,020 |
Common Stock, Shares, Outstanding | 67,031,467 | 64,812,020 |
Consolidated Statement of Share
Consolidated Statement of Shareholders' Equity - USD ($) $ in Thousands | Capital Stock [Member] | Additional Paid-In Capital [Member] | Accumulated Deficit [Member] | Accumulated Other Comprehensive Loss [Member] | Total |
Beginning Balance at Dec. 31, 2015 | $ 1 | $ 22,846 | $ (16,557) | $ (726) | $ 5,564 |
Beginning Balance (Shares) at Dec. 31, 2015 | 63,615,255 | ||||
Other comprehensive loss | (293) | (293) | |||
Warrants exercised | 596 | 596 | |||
Warrants exercised (Shares) | 1,056,765 | ||||
Options exercised | 63 | 63 | |||
Options exercised (Shares) | 140,000 | ||||
Stock-based compensation | 195 | 195 | |||
Net loss for the period | (1,180) | (1,180) | |||
Ending Balance at Dec. 31, 2016 | $ 1 | 23,700 | (17,737) | (1,019) | 4,945 |
Ending Balance (Shares) at Dec. 31, 2016 | 64,812,020 | ||||
Other comprehensive loss | 382 | 382 | |||
Warrants exercised | 1,176 | 1,176 | |||
Warrants exercised (Shares) | 2,084,447 | ||||
Options exercised | 62 | 62 | |||
Options exercised (Shares) | 135,000 | ||||
Stock-based compensation | 315 | 315 | |||
Net loss for the period | (3,051) | (3,051) | |||
Ending Balance at Dec. 31, 2017 | $ 1 | $ 25,253 | $ (20,788) | $ (637) | $ 3,829 |
Ending Balance (Shares) at Dec. 31, 2017 | 67,031,467 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Revenues | ||
License and other revenue | $ 5,195 | $ 4,179 |
Royalties | 0 | 1,041 |
Total revenues | 5,195 | 5,220 |
Expenses | ||
Cost of royalty, license and other revenue | 373 | 319 |
Research and development expense | 2,615 | 1,766 |
Selling, general and administrative expense | 3,965 | 3,605 |
Depreciation of tangible assets | 735 | 511 |
Total expenses | 7,688 | 6,201 |
Operating loss | (2,493) | (981) |
Interest income | 11 | 4 |
Financing and interest expense | (569) | (203) |
Net financing and interest expense | (558) | (199) |
Loss before income taxes | (3,051) | (1,180) |
Income taxes | 0 | 0 |
Net loss | (3,051) | (1,180) |
Other comprehensive income (loss) | ||
Change in fair value | 71 | 0 |
Foreign currency translation adjustment | 311 | (293) |
Total Other comprehensive income | 382 | (293) |
Comprehensive loss | $ (2,669) | $ (1,473) |
Basic and diluted: | ||
Weighted average number of shares outstanding | 66,152,830 | 63,956,543 |
Basic and diluted loss per common share | $ (0.04) | $ (0.02) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Funds (used) provided - Operating activities | ||
Net loss | $ (3,051) | $ (1,180) |
Depreciation of tangible assets | 735 | 511 |
Stock-based compensation | 315 | 195 |
Accretion expense | 123 | 0 |
Total Adjustments | (1,878) | (474) |
Changes in non-cash items related to operations: | ||
Accounts receivable | 421 | 96 |
Prepaid expenses | 363 | (496) |
Investment tax credits receivable | (68) | (149) |
Security deposits | 0 | (202) |
Accounts payable and accrued liabilities | 408 | (698) |
Deferred revenue | (3,634) | 3,634 |
Deferred lease obligations | 5 | 18 |
Net change in non-cash items related to operations | (2,505) | 2,203 |
Net cash (used in) provided by operating activities | (4,383) | 1,729 |
Financing activities | ||
Issuance of long-term debt | 0 | 1,940 |
Repayment of long-term debt | (708) | (675) |
Proceeds from exercise of warrants and stock options | 1,238 | 659 |
Net proceeds from issuance of convertible debentures | 5,469 | 0 |
Convertible debentures issuance costs | (491) | 0 |
Net cash provided by financing activities | 5,508 | 1,924 |
Investing activities | ||
Additions to leasehold improvements and equipment | (973) | (2,326) |
Acquisitions of short-term investments | (3,952) | (5,236) |
Redemptions of short-term investments | 4,718 | 1,652 |
Net cash used in investing activities | (207) | (5,910) |
Increase (decrease) in cash | 918 | (2,257) |
Effect of foreign exchange on cash | 61 | 4 |
Cash | ||
Beginning of year | 612 | 2,865 |
End of year | $ 1,591 | $ 612 |
Basis of Presentation
Basis of Presentation | 12 Months Ended |
Dec. 31, 2017 | |
Basis of Presentation [Text Block] | 1. Basis of Presentation IntelGenx Technologies Corp. (“IntelGenx” or the “Company”) prepares its financial statements in accordance with accounting principles generally accepted in the United States of America (“USA”). This basis of accounting involves the application of accrual accounting and consequently, revenues and gains are recognized when earned, and expenses and losses are recognized when incurred. The consolidated financial statements include the accounts of the Company and its subsidiary companies. On consolidation, all inter-entity transactions and balances have been eliminated. The financial statements are expressed in U.S. funds. |
Going Concern
Going Concern | 12 Months Ended |
Dec. 31, 2017 | |
Going Concern [Text Block] | 2. Going Concern The Company has financed its operations to date primarily through public offerings of its common stock, bank loans, royalty, up-front and milestone payments, license fees, proceeds from exercise of warrants and options, research and development revenues and the sale of U.S. royalty on future sales of Forfivo XL®. The Company has devoted substantially all of its resources to its drug development efforts, conducting clinical trials to further advance the product pipeline, the expansion of its facilities, protecting its intellectual property and general and administrative functions relating to these operations. The future success of the Company is dependent on its ability to develop its product pipeline and ultimately upon its ability to attain profitable operations. As of December 31, 2017, the Company had cash and short-term investments totaling approximately $4,904. The Company does not have sufficient existing cash and short-term investments to support operations for the next year following the issuance of these financial statements. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. Management’s plans to alleviate these conditions include pursuing one or more of the following steps to raise additional funding, none of which can be guaranteed or are entirely within the Company’s control: • Raise funding through the possible sale of the Company’s common stock, including public or private equity financings. • Raise funding through debt financing. • Continue to seek partners to advance product pipline. • Initiate oral film manufacturing activities. • Initiate contract oral film manufacturing activities. If the Company is unable to raise capital when needed or on attractive terms, or if it is unable to procure partnership arrangements to advance its programs, the Company would be forced to delay, reduce or eliminate its research and development programs. The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the ordinary course of business. The accompanying financial statements do not include any adjustments or classifications that may result from the possible inability of the Company to continue as a going concern. Should the Company be unable to continue as a going concern, it may be unable to realize the carrying value of its assets and to meet its liabilities as they become due. |
Nature of Business
Nature of Business | 12 Months Ended |
Dec. 31, 2017 | |
Nature of Business [Text Block] | 3. Nature of Business IntelGenx was incorporated in the State of Delaware as Big Flash Corp. on July 27, 1999. On April 28, 2006 Big Flash Corp. completed, through the Canadian holding corporation, the acquisition of IntelGenx Corp., a company incorporated in Canada on June 15, 2003. IntelGenx is a pharmaceutical company focused on the development of novel oral immediate-release and controlled-release products for the pharmaceutical market. More recently, the Company has made the strategic decision to enter the oral film market and is in the process of implementing commercial oral film manufacturing capability. The Company’s product development efforts are based upon three proprietary delivery platforms, including an immediate release oral film “VersaFilm™”, a mucoadhesive tablet “AdVersa™”, and a multilayer controlled release tablet “VersaTab™”. The Company has an aggressive product development initiative that primarily focuses on addressing unmet market needs and focuses on utilization of the U.S. Food and Drug Administration’s (“FDA”) 505(b)(2) approval process to obtain more timely and efficient approval of new formulations of previously approved products. The Company’s product pipeline currently consists of 13 products in various stages of development from inception through commercialization, including products for the treatment of major depressive disorder, opioid dependence, hypertension, erectile dysfunction, migraine, schizophrenia, idiopathic pulmonary fibrosis, and pain management. Of the products currently under development, 9 utilize the VersaFilm™ VersaTab™ AdVersa™ |
Adoption of New Accounting Stan
Adoption of New Accounting Standards | 12 Months Ended |
Dec. 31, 2017 | |
Adoption of New Accounting Standards [Text Block] | 4. Adoption of New Accounting Standards The FASB issued Update 2016-06, Derivatives and Hedging Contingent Put and Call Options in Debt Instruments, clarifying the requirements for assessing whether contingent call (put) options that can accelerate the payment of principal on debt instruments are clearly and closely related to their debt hosts. The amendments in this Update require an entity performing the assessment to assess the embedded call (put) options solely in accordance with the four-step decision sequence. For public business entities, the amendments in this Update are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The adoption of this Update did not have a material effect on the Company’s financial position or results. The FASB issued Update 2016-09, Compensation – Stock Compensation Improvements to Employee Share-Based Payment Accounting, simplifying several aspects of the accounting for share-based payment transactions, including income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. For public business entities, the amendments in this Update are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The adoption of this Update did not have a material effect on the Company’s financial position or results. The FASB issued Update 2015-11, Inventory: Simplifying the Measurement of Inventory, aligning the measurement of inventory in GAAP with the measurement of inventory in International Financial Reporting Standards (IFRS). The amendments in this Update state that an entity should measure inventory within the scope of this update at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. For public business entities, the amendments in this Update are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The adoption of this Update did not have a material effect on the Company’s financial position or results. The FASB issued 2015-017, Income Taxes: Balance Sheet Classification of Deferred Taxes, which requires that deferred tax liabilities be classified as noncurrent in a classified statement of financial position. For public business entities, the amendments in this Update are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The adoption of this Update did not have a material effect on the Company’s financial position or results. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2017 | |
Summary of Significant Accounting Policies [Text Block] | 5. Summary of Significant Accounting Policies Revenue Recognition The Company enters into product development agreements with collaborators for the research and development and manufacturing of novel oral immediate-release and controlled-release products. The terms of these agreements may include non-refundable exclusivity, signing and licensing fees, funding for research, development and manufacturing, milestone payments and royalties on any product sales derived from collaborations. The Company typically receives non-refundable, up-front payments when licensing its intellectual property and know-how, which often occurs in conjunction with a research and development agreement. The Company analyses its multiple-element arrangements to determine whether the elements can be separated and accounted for individually as separate units of accounting. The Company recognizes up-front license payments as revenue upon delivery of the license only if the license has stand-alone value and qualifies for treatment as a separate unit of accounting under multiple-element arrangement guidance. License fees with ongoing involvement or performance obligations that do not have standalone value are recorded as deferred revenue. For the year ended December 31, 2017, the Company recognized up-front licensing fees totaling $416 thousand compared to $1,546 thousand in 2016. Revenues related to the research and development with corporate collaborators are recognized as other revenue as research and development services are performed. Under these agreements, the Company is required to perform research and development activities as specified in the agreement. For the year ended December 31, 2017, the Company recognized research and development revenues totaling $1,019 thousand compared to $434 thousand in 2016. The Company recognizes revenue from milestones when milestones are achieved, in accordance with the terms of the specific agreements and when collection of the payment is reasonably assured. In addition, the performance criteria for the achievement of milestones are met if substantive effort was required to achieve the milestone and the amount of the milestone payment appears reasonably commensurate with the effort expended. Amounts received in advance of the recognition criteria being met, if any, are included in deferred income. For the year ended December 31, 2017, the Company recognized revenues as a result of sales milestones achieved under a licensing agreement totaling $Nil compared to $358 thousand in 2016. IntelGenx has license agreements that specify that certain royalties are earned by the Company on sales of licensed products in the licensed territories. Royalty revenue is recognized on an accrual basis in accordance with the relevant license agreement. For the year ended December 31, 2017, the Company recognized royalty revenue earned under a licensing agreement totaling $Nil compared to $1,041 thousand in 2016. Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. The financial statements include estimates based on currently available information and management's judgment as to the outcome of future conditions and circumstances. Significant estimates in these financial statements include the useful lives and impairment of long-lived assets, stock-based compensation costs, and the investment tax credits receivable. Changes in the status of certain facts or circumstances could result in material changes to the estimates used in the preparation of the financial statements and actual results could differ from the estimates and assumptions. Accounts Receivable The Company accounts for trade receivables at original invoice amount less an estimate made for doubtful receivables based on a review of all outstanding amounts on a quarterly basis. Management determines the allowance for doubtful accounts by regularly evaluating individual customer receivables and considering a customer's financial condition, credit history and current economic conditions. The Company writes off trade receivables when they are deemed uncollectible and records recoveries of trade receivables previously written off when they receive them. Management has determined that no allowance for doubtful accounts is necessary in order to adequately cover exposure to loss in its December 31, 2017 accounts receivable (2016: $Nil). A bad debt expense in the amount of $29 (2016: $Nil) is recorded in the year ended December 31, 2017. Investment Tax Credits Investment tax credits relating to qualifying expenditures are recognized in the accounts at the time at which the related expenditures are incurred and there is reasonable assurance of their realization. Management has made estimates and assumptions in determining the expenditures eligible for investment tax credits claimed. Investment tax credits received in the year ended December 31, 2017 totaled $255 thousand (2016: $Nil). Leasehold Improvements and Equipment Leasehold improvements and equipment are recorded at cost. Provisions for depreciation are based on their estimated useful lives using the methods as follows: On the declining balance method - Laboratory and office equipment 20% Computer equipment 30% On the straight-line method - Leasehold improvements over the lease term Manufacturing equipment 5 – 10 years Upon retirement or disposal, the cost of the asset disposed of and the related accumulated depreciation are removed from the accounts and any gain or loss is reflected in income. Expenditures for repair and maintenance are expensed as incurred. Security Deposits Security deposits represent a refundable deposit paid to the landlord in accordance with the lease agreement and deposits held as guarantees by the Company’s lenders in accordance with the lending facilities. The deposits will be repaid to the Company at the end of the lease. Impairment of Long-lived Assets Long-lived assets held and used by the Company are reviewed for possible impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the assets to the estimated undiscounted cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the asset exceeds the fair value thereof. Deferred Lease Obligations Rent under operating leases is charged to expense on a straight-line basis over the lease term. Any difference between the rent expense and the rent payable is reflected as deferred lease obligations on the balance sheet. Deferred lease obligations are amortized on a straight-line basis over the term of the related leases. Lease term includes free rent periods as well as the construction period prior to the commencement of the lease. Foreign Currency Translation The Company's reporting currency is the U.S. dollar. The Canadian dollar is the functional currency of the Company's Canadian operations, which is translated to the United States dollar using the current rate method. Under this method, accounts are translated as follows: Assets and liabilities - at exchange rates in effect at the balance sheet date; Revenue and expenses - at average exchange rates prevailing during the year; Equity - at historical rates. Gains and losses arising from foreign currency translation are included in other comprehensive income. Income Taxes The Company accounts for income taxes in accordance with FASB ASC 740 "Income Taxes". Deferred taxes are provided on the liability method whereby deferred tax assets are recognized for deductible temporary differences, and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. Unrecognized Tax Benefits The Company accounts for unrecognized tax benefits in accordance with FASB ASC 740 “Income Taxes”. ASC 740 prescribes a recognition threshold that a tax position is required to meet before being recognized in the financial statements and provides guidance on de-recognition, measurement, classification, interest and penalties, accounting in interim periods, disclosure and transition issues. ASC 740 contains a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained upon ultimate settlement with a taxing authority, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon ultimate settlement. Additionally, ASC 740 requires the Company to accrue interest and related penalties, if applicable, on all tax positions for which reserves have been established consistent with jurisdictional tax laws. The Company elected to classify interest and penalties related to the unrecognized tax benefits in the income tax provision. Share-Based Payments The Company accounts for share-based payments to employees in accordance with the provisions of FASB ASC 718 "Compensation—Stock Compensation" and accordingly recognizes in its financial statements share-based payments at their fair value. In addition, the Company will recognize in the financial statements an expense based on the grant date fair value of stock options granted to employees. The expense will be recognized on a straight-line basis over the vesting period and the offsetting credit will be recorded in additional paid-in capital. Upon exercise of options, the consideration paid together with the amount previously recorded as additional paid-in capital will be recognized as capital stock. The Company estimates its forfeiture rate in order to determine its compensation expense arising from stock-based awards. The Company uses the Black-Scholes option pricing model to determine the fair value of the options. The Company measures compensation expense for its non-employee stock-based compensation under ASC 505-50, “Accounting for Equity Instruments that are Issued to Other Than Employees for Acquiring, or in Conjunction with Selling, Goods or Services". The fair value of the option issued is used to measure the transaction, as this is more reliable than the fair value of the services received. The fair value is measured at the value of the Company’s common stock on the date that the commitment for performance by the counterparty has been reached or the counterparty’s performance is complete. The fair value of the equity instrument is charged directly to compensation expense and additional paid-in capital. For common stock issuances to non-employees that are fully vested and are for future periods, the Company classifies these issuances as prepaid expenses and expenses the prepaid expenses over the service period. At no time has the Company issued common stock for a period that exceeds one year. Loss Per Share Basic loss per share is calculated based on the weighted average number of shares outstanding during the year. Any antidilutive instruments are excluded from the calculation of diluted loss per share. Fair Value Measurements ASC 820 applies to all assets and liabilities that are being measured and reported on a fair value basis. ASC 820 requires disclosure that establishes a framework for measuring fair value in US GAAP, and expands disclosure about fair value measurements. This statement enables the reader of the financial statements to assess the inputs used to develop those measurements by establishing a hierarchy for ranking the quality and reliability of the information used to determine fair values. The statement requires that assets and liabilities carried at fair value be classified and disclosed in one of the following three categories: Level 1: Quoted market prices in active markets for identical assets or liabilities. Level 2: Observable market based inputs or unobservable inputs that are corroborated by market data. Level 3: Unobservable inputs that are not corroborated by market data. In determining the appropriate levels, the Company performs a detailed analysis of the assets and liabilities that are subject to ASC 820. At each reporting period, all assets and liabilities for which the fair value measurement is based on significant unobservable inputs are classified as Level 3. Short-term investments are classified as Level 1. Fair Value of Financial Instruments The fair value represents management’s best estimates based on a range of methodologies and assumptions. The carrying value of receivables and payables arising in the ordinary course of business and the investment tax credits receivable approximate fair value because of the relatively short period of time between their origination and expected realization. Recent Accounting Pronouncements ASU 2017-09 – Stock Compensation (Topic 718) Scope of Modification Accounting In May 2016, the FASB issued ASU 2017-09 which provides guidance on determining which changes to the terms and conditions of share-based payment awards require an entity to apply modification accounting under Topic 718. The statement is effective for annual periods beginning after December 15, 2017. Early adoption is permitted in any interim or annual period for which financial statements have not yet been issued. The Company is currently evaluating the impact of this Statement on its consolidated financial statements. ASU 2017-04 – Intangibles – Goodwill and Other (Topic 350) Simplifying the Test for Goodwill Impairment The FASB issued ASU 2017-04 which eliminates Step 2 from the goodwill impairment test and eliminates the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment. These amendments are effective for a public business entity for fiscal years beginning after December 15, 2019. Early adoption is permitted in any interim or annual period and should be applied on a retrospective basis. The Company is currently evaluating the impact of this Statement on its consolidated financial statements. ASU 2017-01 - Business Combinations (Topic 805) - Clarifying the Definition of a Business The FASB issued ASU 2017-01 which clarifies the definition of a business and is intended to help companies evaluate whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. These amendments are effective for a public business entity for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted under certain circumstances and should be applied on a prospective basis. The Company is currently evaluating the impact of this Statement on its consolidated financial statements. ASU 2016-18 – Statement of Cash Flows (Topic 230) Restricted Cash In November 2016, the FASB issued ASU 2016-18 which requires that the statement of cash flows explain the change during the period in the total cash, cash equivalents, and amounts generally described as restricted or restricted cash equivalents. The statement is effective for annual periods beginning after December 15, 2017, and interim periods within those annual periods. Early adoption is permitted in any interim or annual period and should be applied on a retrospective basis. The Company is currently evaluating the impact of this Statement on its consolidated financial statements. ASU 2016-16 – Income Taxes (Topic 740) Intra-Entity Transfers of Assets Other Than Inventory The FASB issued ASU 2016-16 and requires an entity to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. These amendments are effective for a public business entity for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The amendments should be applied on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. The Company is currently evaluating the impact of this Statement on its consolidated financial statements. ASU 2016-15 – Statement of Cash Flows (Topic 230) Classification of Certain Cash Receipts and Cash Payments In August 2016, the FASB issued ASU 2016-15 which clarifies how certain cash receipts and payments are to be presented in the Statement of cash flows. The statement is effective for annual periods beginning after December 15, 2017, and interim periods within those annual periods. Early adoption is permitted in any interim or annual period, with any adjustments reflected as of the beginning of the fiscal year of adoption. The Company is currently evaluating the impact of this Statement on its consolidated financial statements. ASU 2016-02: Leases (Topic 842) Section A The FASB issued ASU 2016-02 to increase the transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. These amendments are effective for a public business entity for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company is currently evaluating the impact of this Statement on its consolidated financial statements. ASU 2016-01 – Financial Instruments – Overall (Subtopic 825-10) Recognition and Measurement of Financial Assets and Financial Liabilities In January 2016, the FASB issued ASU 2016-01, which will significantly change practice for all entities. The targeted amendments to existing guidance are expected to include: 1. Equity investments that do not result in consolidation and are not accounted for under the equity method would be measured at fair value through net income, unless they qualify for the proposed practicability exception for investments that do not have readily determinable fair values. 2. Changes in instrument-specific credit risk for financial liabilities that are measured under the fair value option would be recognized in other comprehensive income. 3. Entities would make the assessment of the realizability of a deferred tax asset (DTA) related to an available- for-sale (AFS) debt security in combination with the entity’s other DTAs. The guidance would eliminate one method that is currently acceptable for assessing the realizability of DTAs related to AFS debt securities. That is, an entity would no longer be able to consider its intent and ability to hold debt securities with unrealized losses until recovery. 4. Disclosure of the fair value of financial instruments measured at amortized cost would no longer be required for entities that are not public business entities. For public business entities, the amendments in this Update are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company is currently evaluating the impact of this Statement on its consolidated financial statements. Revenue from Contracts with Customers (Topic 606) The FASB and IASB (the Boards) have issued converged standards on revenue recognition. ASU No. 2014-09 which affects any entity using U.S. GAAP that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards. This ASU will supersede the revenue recognition requirements in Topic 605, Revenue Recognition and most industry-specific guidance. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps: • Step 1: Identify the contract(s) with a customer. • Step 2: Identify the performance obligations in the contract. • Step 3: Determine the transaction price. • Step 4: Allocate the transaction price to the performance obligations in the contract. • Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation. In the year ended December 31, 2016, the FASB issued three new amendments related to Topic 606: 1. ASU 2016-08: Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net). 2. ASU 2016-10: Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing. 3. ASU 2016-11 Revenue Recognition (Topic 605) and Derivatives and Hedging (Topic 815): Rescission of SEC Guidance Because of Accounting Standards Updates 2014-09 and 2014-16 Pursuant to Staff Announcements at the March 3, 2016 EITF Meeting. In the year ended December 31, 2017, the FASB issued a new amendment related to Topic 606: 1. ASU 2017-14: Revenue from Contracts with Customers (Topic 606). This amendment does not provide any changes to the previously issued ASU No. 2014-09 and is effective for the same reporting period which was deferred by one year in ASU 2015-14: Revenue From Contracts with Customers (Topic 606), Deferral of the Effective Date. Public business entities, certain not-for-profit entities, and certain employee benefit plans should apply the guidance in Update 2014-09 to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The new standards are required to be adopted using either a full-retrospective or a modified-retrospective approach. The Company will adopt these standards using the modified-retrospective approach beginning in 2018. The Company is in the process of completing the impact assessment on accounting policies and total revenues in the Consolidated Statements of Comprehensive Income (Loss) and disclosures. |
Short-term investments
Short-term investments | 12 Months Ended |
Dec. 31, 2017 | |
Short-term investments [Text Block] | 6. Short-term investments As at December 31, 2017, short-term investments consisting of mutual funds (CAD$3,589 million) and term deposits ($450 thousand) are with a Canadian financial institution having a high credit rating. The term deposits have a maturity date of August 17, 2018, bear interest at 0.40% and are cashable at any time. |
Leasehold Improvements and Equi
Leasehold Improvements and Equipment | 12 Months Ended |
Dec. 31, 2017 | |
Leasehold Improvements and Equipment [Text Block] | 7. Leasehold improvements and Equipment 2017 2016 Accumulated Net Carrying Net Carrying Cost Depreciation Amount Amount Manufacturing equipment $ 3,328 $ 375 $ 2,953 $ 2,429 Laboratory and office equipment 1,380 621 759 807 Computer equipment 102 58 44 23 Leasehold improvements 3,253 663 2,590 2,471 $ 8,063 $ 1,717 $ 6,346 $ 5,730 From the balance of manufacturing equipment, an amount of $822 thousand (2016: $125 thousand) represents assets which are not yet in service as at December 31, 2017. |
Bank Indebtedness
Bank Indebtedness | 12 Months Ended |
Dec. 31, 2017 | |
Bank Indebtedness [Text Block] | 8. Bank Indebtedness The Company's credit facility is subject to review annually and consists of an operating demand line of credit of up to CAD$250 thousand, corporate credits cards of up to CAD$75 and $60 thousand, and foreign exchange contracts limited to CAD$425 thousand. Borrowings under the operating demand line of credit bear interest at the Bank’s prime lending rate plus 2%. The credit facility and term loan (see note 10) are secured by a first ranking movable hypothec on present and future movable property of the Company for an amount of CAD$4,250,000 plus 20%, and a 50% guarantee by Export Development Canada, a Canadian Crown corporation export credit agency. The terms of the banking agreement require the Company to comply with certain debt service coverage and debt to net worth financial covenants on an annual basis at the end of the Company’s fiscal year. As at December 31, 2017, the Company was not in compliance with its financial covenants and has not drawn on its credit facility. The Company has obtained a waiver from the lender. |
Deferred Revenue
Deferred Revenue | 12 Months Ended |
Dec. 31, 2017 | |
Deferred Revenue [Text Block] | 9. Deferred Revenue On August 5, 2016, the Company sold its U.S. royalty on future sales of Forfivo XL ® The payment received for the royalty on future sales in the amount of $6 milliion less the Q2- 2016 royalties recognized in the second quarter in the amount of $352 thousand was recognized in other revenue on a straight-line basis until December 31, 2017. 10% of the proceeds were paid to our former development partner, Cary Pharmaceuticals Inc. This amount was included in prepaid expenses less the portion expensed during the six-month period ended December 31, 2016. This expense was recognized as cost of royalty, license and other revenue on a straight-line basis until December 31, 2017. |
Long-term Debt
Long-term Debt | 12 Months Ended |
Dec. 31, 2017 | |
Long-term Debt [Text Block] | 10. Long-term debt The components of the Company’s debt are as follows: December 31, 2017 December 31, 2016 $ $ Term loan facility 2,233 2,636 Secured loan 531 633 Total debt 2,764 3,269 Less: current portion 772 704 Total long-term debt 1,992 2,565 The Company’s term loan facility consists of a total of CAD$4 million bearing interest at the Bank’s prime lending rate plus 2.50%, with monthly principal repayments of CAD$62 thousand. The term loan is subject to the same security and financial covenants as the bank indebtedness (see note 8). The secured loan has a principal balance authorized of CAD$1 million bearing interest at prime plus 7.3%, reimbursable in monthly principal payments of CAD$17 thousand from January 2017 to March 2021. The loan is secured by a second ranking on all present and future property of the Company. The terms of the banking agreement require the Company to comply with certain debt service coverage and debt to net worth financial covenants on an annual basis at the end of the Company’s fiscal year. As at December 31, 2017, the Company was not in compliance with its financial covenants. The Company has obtained a waiver from the lender. Principal repayments due in each of the next four years are as follows: 2018 772 (CAD969) 2019 753 (CAD945) 2020 753 (CAD945) 2021 486 (CAD610) |
Convertible Debentures
Convertible Debentures | 12 Months Ended |
Dec. 31, 2017 | |
Convertible Debentures [Text Block] | 11. Convertible Debentures On July 12, 2017, the Company closed its previously announced prospectus offering (the “Offering”) of convertible unsecured subordinated debentures of the Corporation (the “Debentures”) for gross aggregate proceeds of CAD$6,838,000. Pursuant to the Offering, the Corporation issued an aggregate principal amount of CAD$6,838,000 of Debentures at a price of CAD$1,000 per Debenture. The Debentures will mature on June 30, 2020 and bear interest at annual rate of 8% payable semi-annually on the last day of June and December of each year, commencing on December 31, 2017. The Debentures will be convertible at the option of the holders at any time prior to the close of business on the earlier of June 30, 2020 and the business day immediately preceding the date specified by the Corporation for redemption of Debentures. The conversion price will be CAD$1.35 (the “Conversion Price”) per common share of the Corporation (“Share”), being a conversion rate of approximately 740 Shares per CAD$1,000 principal amount of Debentures, subject to adjustment in certain events. On August 8, 2017, the Company closed a second tranche of its prospectus Offering of convertible unsecured subordinated debentures of the Corporation for which a first closing took place on July 12, pursuant to which it had raised additional gross proceeds of CAD$762,000. Together with the principal amount of CAD$6,838,000 of Debentures issued on July 12, 2017, the Corporation issued a total aggregate principal amount of CAD$7,600,000 of Debentures at a price of CAD$1,000 per Debenture. The convertible debentures have been recorded as a liability. Total transactions costs in the amount of CAD$1,237,000 were recorded against the liability. The accretion expense for the period ended December 31, 2017 amounts to CAD$160,000. The components of the convertible debentures as at December 31, 2017 are as follows: December 31, 2017 $ (in U.S. $ thousands) Face value of convertible debentures $ 6,058 Transaction costs (986 ) Accretion 127 Convertible debentures $ 5,199 Interest accrued as at December 31, 2017 on the convertible debentures in the amount of CAD$287 thousand was paid on December 29, 2017 and is recorded in financing and interest expense. |
Commitments
Commitments | 12 Months Ended |
Dec. 31, 2017 | |
Commitments [Text Block] | 12. Commitments On April 24, 2015 the Company entered into an agreement to lease approximately 17,000 square feet in a property located at 6420 Abrams, St-Laurent, Québec. The Lease has a 10 year and 6 -month term commencing September 1, 2015. IntelGenx has retained two options to extend the lease, with each option being for an additional five years. Under the terms of the lease IntelGenx is required to pay base rent of approximately CAD$110 thousand (approximately $88 thousand) per year, which will increase at a rate of CAD$0.25 ($0.20) per square foot every two years. On March 6, 2017 IntelGenx executed an agreement to lease approximately an additional 11,000 square feet in a property located at 6410 Abrams, St-Laurent, Quebec (the “Lease”). The lease has an 8 year and 5 -month term commencing on October 1, 2017 and IntelGenx has retained two options to extend the Lease, with each option being for an additional five years. Under the terms of the Lease IntelGenx will be required to pay base rent of approximately CAD$74 thousand (approximately $59 thousand) per year, which will increase at a rate of CAD$0.25 ($0.20) per square foot every two years. IntelGenx plans to use the newly leased space to expand its manufacture of oral film VersaFilm TM The aggregate minimum rentals, exclusive of other occupancy charges, for property leases expiring in 2026, are approximately $1,301 thousand, as follows: 2018 150 2019 152 2020 156 2021 158 2022 161 Thereafter 524 The Company has initiated a project to expand the existing manufacturing facility. The Company has signed agreements in the amount of Euro 1,911 thousand with three suppliers with respect to equipment for solvent film manufacturing. As at December 31, 2017 an amount of Euro646 thousand has been paid with respect to these agreements. |
Capital Stock
Capital Stock | 12 Months Ended |
Dec. 31, 2017 | |
Capital Stock [Text Block] | 13. Capital Stock 2017 2016 Authorized - 100,000,000 common shares of $0.00001 par value 20,000,000 preferred shares of $0.00001 par value Issued - 67,031,467 (December 31, 2016: 64,812,020) common shares $ 1 $ 1 Stock options During the year ended December 31, 2017 a total of 135,000 stock options were exercised for 135,000 common shares having a par value of $0 thousand in aggregate, for cash consideration of $62 thousand, resulting in an increase in additional paid-in capital of $62 thousand. During the year ended December 31, 2016 a total of 140,000 stock options were exercised for 140,000 common shares having a par value of $0 thousand in aggregate, for cash consideration of $63 thousand, resulting in an increase in additional paid-in capital of $63 thousand. Stock-based compensation of $315 thousand and $195 thousand was recorded during the year ended December 31, 2017 and 2016 respectively. An amount of $309 thousand (2016 - $193 thousand) expensed relates to stock options granted to employees and directors and an amount of $6 thousand (2016- $2 thousand) relates to stock options granted to a consultant during the year ended December 31, 2017. As at December 31, 2017 the Company has $196 thousand (2016 - $320 thousand) of unrecognized stock-based compensation, of which $5 thousand (2016 – $11) relates to options granted to a consultant. Warrants In the year ended December 31, 2017 a total of 2,084,447 warrants were exercised for 2,084,447 common shares having a par value of $Nil in aggregate, for cash consideration of approximately $1,176 thousand, resulting in an increase in additional paid-in capital of approximately $1,176 thousand. In the year ended December 31, 2016 a total of 1,056,765 warrants were exercised for 1,056,765 common shares having a par value of $Nil in aggregate, for cash consideration of approximately $596 thousand, resulting in an increase in additional paid-in capital of approximately $596 thousand. |
Additional Paid-In Capital
Additional Paid-In Capital | 12 Months Ended |
Dec. 31, 2017 | |
Additional Paid-In Capital [Text Block] | 14. Additional Paid-In Capital Stock Options On May 9, 2016, the Board of Directors of the Company adopted the 2016 Stock Option Plan which amended and restated the 2006 Stock Option. As a result of the adoption of the 2016 Stock Option Plan, no additional options will be granted under the 2006 Stock Option Plan and all previously granted options will be governed by the 2016 Stock Option Plan. The 2016 Stock Option Plan permits the granting of options to officers, employees, directors and eligible consultants of the Company. A total of 6,361,525 shares of common stock were reserved for issuance under this plan, which includes stock options granted under the previous 2006 Stock Option Plan. Options may be granted under the 2016 Stock Option Plan on terms and at prices as determined by the Board except that the options cannot be granted at less than the market closing price of the common stock on the TSX-V. on the date prior to the grant. Each option will be exercisable after the period or periods specified in the option agreement, but no option may be exercised after the expiration of 10 years from the date of grant. The 2016 Stock Option Plan provides the Board with more flexibility when setting the vesting schedule for options which was otherwise fixed in the 2006 Stock Option Plan. The fair value of options granted has been estimated according to the Black-Scholes valuation model and based on the weighted average of the following assumptions for options granted to employees and directors during the years ended: 2017 2016 Exercise price 0.82 0.62 Expected volatility 60% 65% Expected life 5.34 years 4.60 years Risk-free interest rate 1.85% 1.39% Dividend yield nil nil The weighted average fair value of the options granted to employees and directors during the year ended December 31, 2017 is $0.44 (2016 - $0.33) . No options were granted to consultants during the year ended December 31, 2017. The weighted average fair value of the options granted to consultants during the year ended December 31, 2016 is $0.32. Information with respect to employees and directors stock option activity for 2016 and 2017 is as follows: Weighted average Number of options exercise price $ Outstanding – January 1, 2016 1,670,000 0.56 Granted 1,300,000 0.62 Forfeited (50,000 ) (0.53 ) Expired (120,000 ) (0.43 ) Exercised (140,000 ) (0.45 ) Outstanding – December 31, 2016 2,660,000 0.60 Granted 659,818 0.82 Forfeited (170,000 ) (0.63 ) Expired (75,000 ) (0.65 ) Exercised (135,000 ) (0.46 ) Outstanding – December 31, 2017 2,939,818 0.65 Information with respect to consultant’s stock option activity for 2016 and 2017 is as follows: Weighted average Number of options exercise price $ Outstanding – January 1, 2016 - - Granted 50,000 0.73 Outstanding – December 31, 2016 and 2017 50,000 0.73 Details of stock options outstanding as at December 31, 2017 are as follows: Outstanding options Exercisable options Weighted Weighted Weighted average average Aggregate average Aggregate Exercise Number of remaining exercise intrinsic Number of exercise intrinsic prices options contractual life price value options price value $ (years) $ $ $ $ 0.41 325,000 0.33 0.04 306,250 0.06 0.52 125,000 0.04 0.02 125,000 0.03 0.53 125,000 0.08 0.02 125,000 0.03 0.58 710,000 0.58 0.14 710,000 0.18 0.62 300,000 0.23 0.06 300,000 0.08 0.73 600,000 1.66 0.15 300,000 0.10 0.76 145,000 0.44 0.04 72,500 0.02 0.77 359,818 1.16 0.09 - - 0.89 300,000 0.91 0.09 300,000 0.12 2,989,818 5.43 0.65 437,396 2,238,750 0.62 402,900 Stock-based compensation expense recognized in 2017 with regards to the stock options was $315 thousand (2016: $195 thousand). As at December 31, 2017 the Company has $196 thousand (2016 - $320 thousand) of unrecognized stock-based compensation, of which $5 thousand (2016 – $11 thousand) relates to options granted to a consultant. The amount of $196 thousand will be recognized as an expense over a period of two years. A change in control of the Company due to acquisition would cause the vesting of the stock options granted to employees and directors to accelerate and would result in $196 thousand being charged to stock-based compensation expense. Warrants In the year ended December 31, 2017 a total of 2,084,447 warrants were exercised for 2,084,447 common shares having a par value of $Nil in aggregate, for cash consideration of approximately $1,176 thousand, resulting in an increase in additional paid-in capital of approximately $1,176 thousand. In the year ended December 31, 2016 a total of 1,056,765 warrants were exercised for 1,056,765 common shares having a par value of $Nil in aggregate, for cash consideration of approximately $596 thousand, resulting in an increase in additional paid-in capital of approximately $596 thousand. Information with respect to warrant activity for 2016 and 2017 is as follows: Number of Weighted average warrants exercise price (All Exercisable) $ Outstanding – January 1, 2016 7,231,123 0.5646 Exercised (1,056,765 ) (0.5646 ) Outstanding - December 31, 2016 6,174,358 0.5646 Exercised (2,084,447 ) (0.5646 ) Expired (19,009 ) (0.5646 ) Outstanding - December 31, 2017 4,070,902 0.5646 |
Income Tax
Income Tax | 12 Months Ended |
Dec. 31, 2017 | |
Income Tax [Text Block] | 15. Income Taxes Income taxes reported differ from the amount computed by applying the statutory rates to net income (losses). The reasons are as follows: 2017 2016 Statutory income taxes $ (794 ) $ (305 ) Net operating losses for which no tax benefits have been recorded 346 201 Deficiency of depreciation over capital cost allowance (235 ) (206 ) Non-deductible expenses 239 105 Undeducted research and development expenses 525 245 Investment tax credit (81 ) (40 ) $ - $ - The major components of the deferred tax assets classified by the source of temporary differences are as follows: 2017 2016 Leasehold improvements and equipment $ 252 $ 201 Net operating losses carryforward 2,620 2,062 Undeducted research and development expenses 2,054 1,501 Non-refundable tax credits carryforward 1,553 1,190 6,479 4,954 Valuation allowance (6,479 ) (4,954 ) $ - $ - As at December 31, 2017, management determined that enough uncertainty existed relative to the realization of deferred income tax asset balances to warrant the application of a full valuation allowance. Although management believes that certain of the net operating losses will be applied against earnings in 2018, management continues to believe that enough uncertainty exists relative to the realization of the remaining deferred income tax asset balances such that no recognition of deferred income tax assets is warranted. There were Canadian and provincial net operating losses of approximately $9,560 thousand (2016: $7,585 thousand) and $10,052 thousand (2016: $7,763 thousand) respectively, that may be applied against earnings of future years. Utilization of the net operating losses is subject to significant limitations imposed by the change in control provisions. Canadian and provincial losses will be expiring between 2027 and 2037. A portion of the net operating losses may expire before they can be utilized. As at December 31, 2017, the Company had non-refundable tax credits of $1,553 thousand (2016: $1,190 thousand) of which $8 thousand is expiring in 2026, $10 thousand is expiring in 2027, $180 thousand is expiring in 2028, $158 thousand is expiring in 2029, $134 thousand is expiring in 2030, $143 thousand is expiring in 2031, $179 thousand is expiring in 2032, $119 thousand is expiring in 2033, $90 thousand expiring in 2034, $106 thousand is expiring in 2035, $146 thousand expiring in 2036 and $280 thousand is expiring in 2037 and undeducted research and development expenses of $7,532 thousand (2016: $5,438 thousand) with no expiration date. The deferred tax benefit of these items was not recognized in the accounts as it has been fully provided for. Unrecognized Tax Benefits The Company does not have any unrecognized tax benefits. Tax Years and Examination The Company files tax returns in each jurisdiction in which it is registered to do business. For each jurisdiction a statute of limitations period exists. After a statute of limitations period expires, the respective tax authorities may no longer assess additional income tax for the expired period. Similarly, the Company is no longer eligible to file claims for refund for any tax that it may have overpaid. The following table summarizes the Company’s major tax jurisdictions and the tax years that remain subject to examination by these jurisdictions as of December 31, 2017: Tax Jurisdictions Tax Years Federal - Canada 2014 and onward Provincial - Quebec 2014 and onward Federal - USA 2014 onward |
Statement of Cash Flows Informa
Statement of Cash Flows Information | 12 Months Ended |
Dec. 31, 2017 | |
Statement of Cash Flows Information [Text Block] | 16. Statement of Cash Flows Information In US$ thousands 2017 2016 Additional Cash Flow Information: Interest paid $ 408 $ 176 |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2017 | |
Related Party Transactions [Text Block] | 17. Related party transactions Included in management salaries are $10 thousand (2016 - $2 thousand) for options granted to the Chief Executive Officer, $37 thousand (2016 - $60 thousand) for options granted to the Chief Financial Officer, $3 thousand (2016 - $12 thousand) for options granted to the former Vice President, Operations, $9 thousand (2016 - $5) for options granted to the Vice-President, Research and Development, $Nil (2016 - $21) for options granted to the former Vice President, Corporate Development, and $37 thousand for options granted to Vice-President, Business and Corporate Development (2016 – $8) under the 2006 or 2016 Stock Option Plans and $131 thousand (2016 - $52 thousand) for options granted to non-employee directors. Included in general and administrative expenses are director fees of $256 thousand (2016: $184 thousand). During the year a non-employee director rendered consulting services amounting to $Nil (2016 - $14 thousand). The above related party transactions have been measured at the exchange amount which is the amount of the consideration established and agreed upon by the related parties. |
Basic and Diluted Loss Per Comm
Basic and Diluted Loss Per Common Share | 12 Months Ended |
Dec. 31, 2017 | |
Basic and Diluted Loss Per Common Share [Text Block] | 18. Basic and Diluted Loss Per Common Share Basic and diluted loss per common share is calculated based on the weighted average number of shares outstanding during the year. Common equivalent shares from stock options, warrants and convertible debentures are also included in the diluted per share calculations unless the effect of the inclusion would be antidilutive. |
Subsequent events
Subsequent events | 12 Months Ended |
Dec. 31, 2017 | |
Subsequent events [Text Block] | 19. Subsequent events On January 16, 2018, the Company granted 100,000 options to purchase common stock to an employee. The stock options are exercisable at $0.79 per share and vest over 2 years at 25% every six months. Subsequent to the end of the year, total of 700,000 warrants were exercised for 700,000 common shares having a par value of $Nil in aggregate, for cash consideration of approximately $395 thousand. |
Summary of Significant Accoun26
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Revenue Recognition [Policy Text Block] | Revenue Recognition The Company enters into product development agreements with collaborators for the research and development and manufacturing of novel oral immediate-release and controlled-release products. The terms of these agreements may include non-refundable exclusivity, signing and licensing fees, funding for research, development and manufacturing, milestone payments and royalties on any product sales derived from collaborations. The Company typically receives non-refundable, up-front payments when licensing its intellectual property and know-how, which often occurs in conjunction with a research and development agreement. The Company analyses its multiple-element arrangements to determine whether the elements can be separated and accounted for individually as separate units of accounting. The Company recognizes up-front license payments as revenue upon delivery of the license only if the license has stand-alone value and qualifies for treatment as a separate unit of accounting under multiple-element arrangement guidance. License fees with ongoing involvement or performance obligations that do not have standalone value are recorded as deferred revenue. For the year ended December 31, 2017, the Company recognized up-front licensing fees totaling $416 thousand compared to $1,546 thousand in 2016. Revenues related to the research and development with corporate collaborators are recognized as other revenue as research and development services are performed. Under these agreements, the Company is required to perform research and development activities as specified in the agreement. For the year ended December 31, 2017, the Company recognized research and development revenues totaling $1,019 thousand compared to $434 thousand in 2016. The Company recognizes revenue from milestones when milestones are achieved, in accordance with the terms of the specific agreements and when collection of the payment is reasonably assured. In addition, the performance criteria for the achievement of milestones are met if substantive effort was required to achieve the milestone and the amount of the milestone payment appears reasonably commensurate with the effort expended. Amounts received in advance of the recognition criteria being met, if any, are included in deferred income. For the year ended December 31, 2017, the Company recognized revenues as a result of sales milestones achieved under a licensing agreement totaling $Nil compared to $358 thousand in 2016. IntelGenx has license agreements that specify that certain royalties are earned by the Company on sales of licensed products in the licensed territories. Royalty revenue is recognized on an accrual basis in accordance with the relevant license agreement. For the year ended December 31, 2017, the Company recognized royalty revenue earned under a licensing agreement totaling $Nil compared to $1,041 thousand in 2016. |
Use of Estimates [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. The financial statements include estimates based on currently available information and management's judgment as to the outcome of future conditions and circumstances. Significant estimates in these financial statements include the useful lives and impairment of long-lived assets, stock-based compensation costs, and the investment tax credits receivable. Changes in the status of certain facts or circumstances could result in material changes to the estimates used in the preparation of the financial statements and actual results could differ from the estimates and assumptions. |
Accounts Receivable [Policy Text Block] | Accounts Receivable The Company accounts for trade receivables at original invoice amount less an estimate made for doubtful receivables based on a review of all outstanding amounts on a quarterly basis. Management determines the allowance for doubtful accounts by regularly evaluating individual customer receivables and considering a customer's financial condition, credit history and current economic conditions. The Company writes off trade receivables when they are deemed uncollectible and records recoveries of trade receivables previously written off when they receive them. Management has determined that no allowance for doubtful accounts is necessary in order to adequately cover exposure to loss in its December 31, 2017 accounts receivable (2016: $Nil). A bad debt expense in the amount of $29 (2016: $Nil) is recorded in the year ended December 31, 2017. |
Investment Tax Credits [Policy Text Block] | Investment Tax Credits Investment tax credits relating to qualifying expenditures are recognized in the accounts at the time at which the related expenditures are incurred and there is reasonable assurance of their realization. Management has made estimates and assumptions in determining the expenditures eligible for investment tax credits claimed. Investment tax credits received in the year ended December 31, 2017 totaled $255 thousand (2016: $Nil). |
Leasehold Improvements and Equipment [Policy Text Block] | Leasehold Improvements and Equipment Leasehold improvements and equipment are recorded at cost. Provisions for depreciation are based on their estimated useful lives using the methods as follows: On the declining balance method - Laboratory and office equipment 20% Computer equipment 30% On the straight-line method - Leasehold improvements over the lease term Manufacturing equipment 5 – 10 years Upon retirement or disposal, the cost of the asset disposed of and the related accumulated depreciation are removed from the accounts and any gain or loss is reflected in income. Expenditures for repair and maintenance are expensed as incurred. |
Security Deposits [Policy Text Block] | Security Deposits Security deposits represent a refundable deposit paid to the landlord in accordance with the lease agreement and deposits held as guarantees by the Company’s lenders in accordance with the lending facilities. The deposits will be repaid to the Company at the end of the lease. |
Impairment of Long-lived Assets [Policy Text Block] | Impairment of Long-lived Assets Long-lived assets held and used by the Company are reviewed for possible impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the assets to the estimated undiscounted cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the asset exceeds the fair value thereof. |
Deferred Lease Obligations [Policy Text Block] | Deferred Lease Obligations Rent under operating leases is charged to expense on a straight-line basis over the lease term. Any difference between the rent expense and the rent payable is reflected as deferred lease obligations on the balance sheet. Deferred lease obligations are amortized on a straight-line basis over the term of the related leases. Lease term includes free rent periods as well as the construction period prior to the commencement of the lease. |
Foreign Currency Translation [Policy Text Block] | Foreign Currency Translation The Company's reporting currency is the U.S. dollar. The Canadian dollar is the functional currency of the Company's Canadian operations, which is translated to the United States dollar using the current rate method. Under this method, accounts are translated as follows: Assets and liabilities - at exchange rates in effect at the balance sheet date; Revenue and expenses - at average exchange rates prevailing during the year; Equity - at historical rates. Gains and losses arising from foreign currency translation are included in other comprehensive income. |
Income Taxes [Policy Text Block] | Income Taxes The Company accounts for income taxes in accordance with FASB ASC 740 "Income Taxes". Deferred taxes are provided on the liability method whereby deferred tax assets are recognized for deductible temporary differences, and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. |
Unrecognized Tax Benefits [Policy Text Block] | Unrecognized Tax Benefits The Company accounts for unrecognized tax benefits in accordance with FASB ASC 740 “Income Taxes”. ASC 740 prescribes a recognition threshold that a tax position is required to meet before being recognized in the financial statements and provides guidance on de-recognition, measurement, classification, interest and penalties, accounting in interim periods, disclosure and transition issues. ASC 740 contains a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained upon ultimate settlement with a taxing authority, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon ultimate settlement. Additionally, ASC 740 requires the Company to accrue interest and related penalties, if applicable, on all tax positions for which reserves have been established consistent with jurisdictional tax laws. The Company elected to classify interest and penalties related to the unrecognized tax benefits in the income tax provision. |
Share-Based Payments [Policy Text Block] | Share-Based Payments The Company accounts for share-based payments to employees in accordance with the provisions of FASB ASC 718 "Compensation—Stock Compensation" and accordingly recognizes in its financial statements share-based payments at their fair value. In addition, the Company will recognize in the financial statements an expense based on the grant date fair value of stock options granted to employees. The expense will be recognized on a straight-line basis over the vesting period and the offsetting credit will be recorded in additional paid-in capital. Upon exercise of options, the consideration paid together with the amount previously recorded as additional paid-in capital will be recognized as capital stock. The Company estimates its forfeiture rate in order to determine its compensation expense arising from stock-based awards. The Company uses the Black-Scholes option pricing model to determine the fair value of the options. The Company measures compensation expense for its non-employee stock-based compensation under ASC 505-50, “Accounting for Equity Instruments that are Issued to Other Than Employees for Acquiring, or in Conjunction with Selling, Goods or Services". The fair value of the option issued is used to measure the transaction, as this is more reliable than the fair value of the services received. The fair value is measured at the value of the Company’s common stock on the date that the commitment for performance by the counterparty has been reached or the counterparty’s performance is complete. The fair value of the equity instrument is charged directly to compensation expense and additional paid-in capital. For common stock issuances to non-employees that are fully vested and are for future periods, the Company classifies these issuances as prepaid expenses and expenses the prepaid expenses over the service period. At no time has the Company issued common stock for a period that exceeds one year. |
Loss Per Share [Policy Text Block] | Loss Per Share Basic loss per share is calculated based on the weighted average number of shares outstanding during the year. Any antidilutive instruments are excluded from the calculation of diluted loss per share. |
Fair Value Measurements [Policy Text Block] | Fair Value Measurements ASC 820 applies to all assets and liabilities that are being measured and reported on a fair value basis. ASC 820 requires disclosure that establishes a framework for measuring fair value in US GAAP, and expands disclosure about fair value measurements. This statement enables the reader of the financial statements to assess the inputs used to develop those measurements by establishing a hierarchy for ranking the quality and reliability of the information used to determine fair values. The statement requires that assets and liabilities carried at fair value be classified and disclosed in one of the following three categories: Level 1: Quoted market prices in active markets for identical assets or liabilities. Level 2: Observable market based inputs or unobservable inputs that are corroborated by market data. Level 3: Unobservable inputs that are not corroborated by market data. In determining the appropriate levels, the Company performs a detailed analysis of the assets and liabilities that are subject to ASC 820. At each reporting period, all assets and liabilities for which the fair value measurement is based on significant unobservable inputs are classified as Level 3. Short-term investments are classified as Level 1. |
Fair Value of Financial Instruments [Policy Text Block] | Fair Value of Financial Instruments The fair value represents management’s best estimates based on a range of methodologies and assumptions. The carrying value of receivables and payables arising in the ordinary course of business and the investment tax credits receivable approximate fair value because of the relatively short period of time between their origination and expected realization. |
Recent Accounting Pronouncements [Policy Text Block] | Recent Accounting Pronouncements ASU 2017-09 – Stock Compensation (Topic 718) Scope of Modification Accounting In May 2016, the FASB issued ASU 2017-09 which provides guidance on determining which changes to the terms and conditions of share-based payment awards require an entity to apply modification accounting under Topic 718. The statement is effective for annual periods beginning after December 15, 2017. Early adoption is permitted in any interim or annual period for which financial statements have not yet been issued. The Company is currently evaluating the impact of this Statement on its consolidated financial statements. ASU 2017-04 – Intangibles – Goodwill and Other (Topic 350) Simplifying the Test for Goodwill Impairment The FASB issued ASU 2017-04 which eliminates Step 2 from the goodwill impairment test and eliminates the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment. These amendments are effective for a public business entity for fiscal years beginning after December 15, 2019. Early adoption is permitted in any interim or annual period and should be applied on a retrospective basis. The Company is currently evaluating the impact of this Statement on its consolidated financial statements. ASU 2017-01 - Business Combinations (Topic 805) - Clarifying the Definition of a Business The FASB issued ASU 2017-01 which clarifies the definition of a business and is intended to help companies evaluate whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. These amendments are effective for a public business entity for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted under certain circumstances and should be applied on a prospective basis. The Company is currently evaluating the impact of this Statement on its consolidated financial statements. ASU 2016-18 – Statement of Cash Flows (Topic 230) Restricted Cash In November 2016, the FASB issued ASU 2016-18 which requires that the statement of cash flows explain the change during the period in the total cash, cash equivalents, and amounts generally described as restricted or restricted cash equivalents. The statement is effective for annual periods beginning after December 15, 2017, and interim periods within those annual periods. Early adoption is permitted in any interim or annual period and should be applied on a retrospective basis. The Company is currently evaluating the impact of this Statement on its consolidated financial statements. ASU 2016-16 – Income Taxes (Topic 740) Intra-Entity Transfers of Assets Other Than Inventory The FASB issued ASU 2016-16 and requires an entity to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. These amendments are effective for a public business entity for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The amendments should be applied on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. The Company is currently evaluating the impact of this Statement on its consolidated financial statements. ASU 2016-15 – Statement of Cash Flows (Topic 230) Classification of Certain Cash Receipts and Cash Payments In August 2016, the FASB issued ASU 2016-15 which clarifies how certain cash receipts and payments are to be presented in the Statement of cash flows. The statement is effective for annual periods beginning after December 15, 2017, and interim periods within those annual periods. Early adoption is permitted in any interim or annual period, with any adjustments reflected as of the beginning of the fiscal year of adoption. The Company is currently evaluating the impact of this Statement on its consolidated financial statements. ASU 2016-02: Leases (Topic 842) Section A The FASB issued ASU 2016-02 to increase the transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. These amendments are effective for a public business entity for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company is currently evaluating the impact of this Statement on its consolidated financial statements. ASU 2016-01 – Financial Instruments – Overall (Subtopic 825-10) Recognition and Measurement of Financial Assets and Financial Liabilities In January 2016, the FASB issued ASU 2016-01, which will significantly change practice for all entities. The targeted amendments to existing guidance are expected to include: 1. Equity investments that do not result in consolidation and are not accounted for under the equity method would be measured at fair value through net income, unless they qualify for the proposed practicability exception for investments that do not have readily determinable fair values. 2. Changes in instrument-specific credit risk for financial liabilities that are measured under the fair value option would be recognized in other comprehensive income. 3. Entities would make the assessment of the realizability of a deferred tax asset (DTA) related to an available- for-sale (AFS) debt security in combination with the entity’s other DTAs. The guidance would eliminate one method that is currently acceptable for assessing the realizability of DTAs related to AFS debt securities. That is, an entity would no longer be able to consider its intent and ability to hold debt securities with unrealized losses until recovery. 4. Disclosure of the fair value of financial instruments measured at amortized cost would no longer be required for entities that are not public business entities. For public business entities, the amendments in this Update are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company is currently evaluating the impact of this Statement on its consolidated financial statements. Revenue from Contracts with Customers (Topic 606) The FASB and IASB (the Boards) have issued converged standards on revenue recognition. ASU No. 2014-09 which affects any entity using U.S. GAAP that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards. This ASU will supersede the revenue recognition requirements in Topic 605, Revenue Recognition and most industry-specific guidance. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps: • Step 1: Identify the contract(s) with a customer. • Step 2: Identify the performance obligations in the contract. • Step 3: Determine the transaction price. • Step 4: Allocate the transaction price to the performance obligations in the contract. • Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation. In the year ended December 31, 2016, the FASB issued three new amendments related to Topic 606: 1. ASU 2016-08: Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net). 2. ASU 2016-10: Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing. 3. ASU 2016-11 Revenue Recognition (Topic 605) and Derivatives and Hedging (Topic 815): Rescission of SEC Guidance Because of Accounting Standards Updates 2014-09 and 2014-16 Pursuant to Staff Announcements at the March 3, 2016 EITF Meeting. In the year ended December 31, 2017, the FASB issued a new amendment related to Topic 606: 1. ASU 2017-14: Revenue from Contracts with Customers (Topic 606). This amendment does not provide any changes to the previously issued ASU No. 2014-09 and is effective for the same reporting period which was deferred by one year in ASU 2015-14: Revenue From Contracts with Customers (Topic 606), Deferral of the Effective Date. Public business entities, certain not-for-profit entities, and certain employee benefit plans should apply the guidance in Update 2014-09 to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The new standards are required to be adopted using either a full-retrospective or a modified-retrospective approach. The Company will adopt these standards using the modified-retrospective approach beginning in 2018. The Company is in the process of completing the impact assessment on accounting policies and total revenues in the Consolidated Statements of Comprehensive Income (Loss) and disclosures. |
Summary of Significant Accoun27
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Schedule of Estimated Useful Lives of Leasehold Improvements and Equipment [Table Text Block] | On the declining balance method - Laboratory and office equipment 20% Computer equipment 30% On the straight-line method - Leasehold improvements over the lease term Manufacturing equipment 5 – 10 years |
Leasehold Improvements and Eq28
Leasehold Improvements and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Schedule of Leasehold Improvements and Equipment [Table Text Block] | 2017 2016 Accumulated Net Carrying Net Carrying Cost Depreciation Amount Amount Manufacturing equipment $ 3,328 $ 375 $ 2,953 $ 2,429 Laboratory and office equipment 1,380 621 759 807 Computer equipment 102 58 44 23 Leasehold improvements 3,253 663 2,590 2,471 $ 8,063 $ 1,717 $ 6,346 $ 5,730 |
Long-term Debt (Tables)
Long-term Debt (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Term loan [Table Text Block] | December 31, 2017 December 31, 2016 $ $ Term loan facility 2,233 2,636 Secured loan 531 633 Total debt 2,764 3,269 Less: current portion 772 704 Total long-term debt 1,992 2,565 |
Term loan principal repayments [Table Text Block] | 2018 772 (CAD969) 2019 753 (CAD945) 2020 753 (CAD945) 2021 486 (CAD610) |
Convertible Debentures (Tables)
Convertible Debentures (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Schedule of Convertible Debt [Table Text Block] | December 31, 2017 $ (in U.S. $ thousands) Face value of convertible debentures $ 6,058 Transaction costs (986 ) Accretion 127 Convertible debentures $ 5,199 |
Commitments (Tables)
Commitments (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Schedule of future minimum payments under operating leases [Table Text Block] | 2018 150 2019 152 2020 156 2021 158 2022 161 Thereafter 524 |
Capital Stock (Tables)
Capital Stock (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Schedule of Stock by Class [Table Text Block] | 2017 2016 Authorized - 100,000,000 common shares of $0.00001 par value 20,000,000 preferred shares of $0.00001 par value Issued - 67,031,467 (December 31, 2016: 64,812,020) common shares $ 1 $ 1 |
Additional Paid-In Capital (Tab
Additional Paid-In Capital (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 2017 2016 Exercise price 0.82 0.62 Expected volatility 60% 65% Expected life 5.34 years 4.60 years Risk-free interest rate 1.85% 1.39% Dividend yield nil nil |
Schedule of Stock Option Activity to Employees and Directors [Table Text Block] | Weighted average Number of options exercise price $ Outstanding – January 1, 2016 1,670,000 0.56 Granted 1,300,000 0.62 Forfeited (50,000 ) (0.53 ) Expired (120,000 ) (0.43 ) Exercised (140,000 ) (0.45 ) Outstanding – December 31, 2016 2,660,000 0.60 Granted 659,818 0.82 Forfeited (170,000 ) (0.63 ) Expired (75,000 ) (0.65 ) Exercised (135,000 ) (0.46 ) Outstanding – December 31, 2017 2,939,818 0.65 |
Schedule of Stock Option Activity to Consultants [Table Text Block] | Weighted average Number of options exercise price $ Outstanding – January 1, 2016 - - Granted 50,000 0.73 Outstanding – December 31, 2016 and 2017 50,000 0.73 |
Schedule of Share-based Compensation, Stock Options, and Warrants or Rights Activity [Table Text Block] | Outstanding options Exercisable options Weighted Weighted Weighted average average Aggregate average Aggregate Exercise Number of remaining exercise intrinsic Number of exercise intrinsic prices options contractual life price value options price value $ (years) $ $ $ $ 0.41 325,000 0.33 0.04 306,250 0.06 0.52 125,000 0.04 0.02 125,000 0.03 0.53 125,000 0.08 0.02 125,000 0.03 0.58 710,000 0.58 0.14 710,000 0.18 0.62 300,000 0.23 0.06 300,000 0.08 0.73 600,000 1.66 0.15 300,000 0.10 0.76 145,000 0.44 0.04 72,500 0.02 0.77 359,818 1.16 0.09 - - 0.89 300,000 0.91 0.09 300,000 0.12 2,989,818 5.43 0.65 437,396 2,238,750 0.62 402,900 |
Schedule of Stockholders' Equity Note, Warrants or Rights, Activity [Table Text Block] | Number of Weighted average warrants exercise price (All Exercisable) $ Outstanding – January 1, 2016 7,231,123 0.5646 Exercised (1,056,765 ) (0.5646 ) Outstanding - December 31, 2016 6,174,358 0.5646 Exercised (2,084,447 ) (0.5646 ) Expired (19,009 ) (0.5646 ) Outstanding - December 31, 2017 4,070,902 0.5646 |
Income Tax (Tables)
Income Tax (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 2017 2016 Statutory income taxes $ (794 ) $ (305 ) Net operating losses for which no tax benefits have been recorded 346 201 Deficiency of depreciation over capital cost allowance (235 ) (206 ) Non-deductible expenses 239 105 Undeducted research and development expenses 525 245 Investment tax credit (81 ) (40 ) $ - $ - |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 2017 2016 Leasehold improvements and equipment $ 252 $ 201 Net operating losses carryforward 2,620 2,062 Undeducted research and development expenses 2,054 1,501 Non-refundable tax credits carryforward 1,553 1,190 6,479 4,954 Valuation allowance (6,479 ) (4,954 ) $ - $ - |
Schedule of Tax years and Jurisdictions [Table Text Block] | Tax Jurisdictions Tax Years Federal - Canada 2014 and onward Provincial - Quebec 2014 and onward Federal - USA 2014 onward |
Statement of Cash Flows Infor35
Statement of Cash Flows Information (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | In US$ thousands 2017 2016 Additional Cash Flow Information: Interest paid $ 408 $ 176 |
Going Concern (Narrative) (Deta
Going Concern (Narrative) (Details) | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Going Concern 1 | $ 4,904 |
Summary of Significant Accoun37
Summary of Significant Accounting Policies (Narrative) (Details) | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Summary Of Significant Accounting Policies 1 | $ 416,000 |
Summary Of Significant Accounting Policies 2 | 1,546,000 |
Summary Of Significant Accounting Policies 3 | 1,019,000 |
Summary Of Significant Accounting Policies 4 | 434,000 |
Summary Of Significant Accounting Policies 5 | 0 |
Summary Of Significant Accounting Policies 6 | 358,000 |
Summary Of Significant Accounting Policies 7 | 0 |
Summary Of Significant Accounting Policies 8 | 1,041,000 |
Summary Of Significant Accounting Policies 9 | 0 |
Summary Of Significant Accounting Policies 10 | 29 |
Summary Of Significant Accounting Policies 11 | 0 |
Summary Of Significant Accounting Policies 12 | 255,000 |
Summary Of Significant Accounting Policies 13 | $ 0 |
Summary Of Significant Accounting Policies 14 | 50.00% |
Short-term investments (Narrati
Short-term investments (Narrative) (Details) $ in Thousands, $ in Millions | 12 Months Ended | |
Dec. 31, 2017USD ($) | Dec. 31, 2017CAD ($) | |
Short-term Investments 1 | $ 3,589 | |
Short-term Investments 2 | $ 450 | |
Short-term Investments 3 | 0.40% | 0.40% |
Leasehold Improvements and Eq39
Leasehold Improvements and Equipment (Narrative) (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Leasehold Improvements And Equipment 1 | $ 822 |
Leasehold Improvements And Equipment 2 | $ 125 |
Bank Indebtedness (Narrative) (
Bank Indebtedness (Narrative) (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017USD ($) | Dec. 31, 2017CAD ($) | |
Bank Indebtedness 1 | $ 250,000 | |
Bank Indebtedness 2 | 75 | |
Bank Indebtedness 3 | $ 60 | |
Bank Indebtedness 4 | $ 425,000 | |
Bank Indebtedness 5 | 2.00% | 2.00% |
Bank Indebtedness 6 | $ 4,250,000 | |
Bank Indebtedness 7 | 20.00% | 20.00% |
Bank Indebtedness 8 | 50.00% | 50.00% |
Deferred Revenue (Narrative) (D
Deferred Revenue (Narrative) (Details) | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Deferred Revenue 1 | $ 6,000,000 |
Deferred Revenue 2 | $ 6,000,000 |
Deferred Revenue 3 | 100.00% |
Deferred Revenue 4 | 100.00% |
Deferred Revenue 5 | $ 2,000,000 |
Deferred Revenue 6 | $ 15,000,000 |
Deferred Revenue 7 | 35.00% |
Deferred Revenue 8 | $ 6 |
Deferred Revenue 9 | 2,016 |
Deferred Revenue 10 | $ 352,000 |
Deferred Revenue 11 | 10.00% |
Long-term Debt (Narrative) (Det
Long-term Debt (Narrative) (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2017CAD ($) | |
Long-term Debt 1 | $ 4,000 |
Long-term Debt 2 | 2.50% |
Long-term Debt 3 | $ 62 |
Long-term Debt 4 | $ 1,000 |
Long-term Debt 5 | 7.30% |
Long-term Debt 6 | $ 17 |
Convertible Debentures (Narrati
Convertible Debentures (Narrative) (Details) | 12 Months Ended |
Dec. 31, 2017CAD ($) | |
Convertible Debentures 1 | $ 6,838,000 |
Convertible Debentures 2 | 6,838,000 |
Convertible Debentures 3 | $ 1,000 |
Convertible Debentures 4 | 8.00% |
Convertible Debentures 5 | $ 1.35 |
Convertible Debentures 6 | 740 |
Convertible Debentures 7 | $ 1,000 |
Convertible Debentures 8 | 762,000 |
Convertible Debentures 9 | 6,838,000 |
Convertible Debentures 10 | 7,600,000 |
Convertible Debentures 11 | 1,000 |
Convertible Debentures 12 | 1,237,000 |
Convertible Debentures 13 | 160,000 |
Convertible Debentures 14 | $ 287,000 |
Commitments (Narrative) (Detail
Commitments (Narrative) (Details) - 12 months ended Dec. 31, 2017 | USD ($)yr | CAD ($)yr |
Commitments 1 | yr | 10 | 10 |
Commitments 2 | 6 | 6 |
Commitments 3 | $ 110,000 | |
Commitments 4 | $ 88,000 | |
Commitments 5 | $ 0.25 | |
Commitments 6 | $ 0.20 | |
Commitments 7 | 11,000 | 11,000 |
Commitments 8 | yr | 8 | 8 |
Commitments 9 | 5 | 5 |
Commitments 10 | $ 74,000 | |
Commitments 11 | $ 59,000 | |
Commitments 12 | $ 0.25 | |
Commitments 13 | 0.20 | |
Commitments 14 | $ 1,301,000 | |
Commitments 15 | 1,911,000 | 1,911,000 |
Capital Stock (Narrative) (Deta
Capital Stock (Narrative) (Details) | 12 Months Ended |
Dec. 31, 2017USD ($)shares | |
Capital Stock 1 | shares | 135,000 |
Capital Stock 2 | shares | 135,000 |
Capital Stock 3 | $ 0 |
Capital Stock 4 | 62,000 |
Capital Stock 5 | $ 62,000 |
Capital Stock 6 | shares | 140,000 |
Capital Stock 7 | shares | 140,000 |
Capital Stock 8 | $ 0 |
Capital Stock 9 | 63,000 |
Capital Stock 10 | 63,000 |
Capital Stock 11 | 315,000 |
Capital Stock 12 | 195,000 |
Capital Stock 13 | 309,000 |
Capital Stock 14 | 193,000 |
Capital Stock 15 | 6,000 |
Capital Stock 16 | 2,000 |
Capital Stock 17 | 196,000 |
Capital Stock 18 | 320,000 |
Capital Stock 19 | 5,000 |
Capital Stock 20 | $ 11 |
Capital Stock 21 | shares | 2,084,447 |
Capital Stock 22 | shares | 2,084,447 |
Capital Stock 23 | $ 0 |
Capital Stock 24 | 1,176,000 |
Capital Stock 25 | $ 1,176,000 |
Capital Stock 26 | shares | 1,056,765 |
Capital Stock 27 | shares | 1,056,765 |
Capital Stock 28 | $ 0 |
Capital Stock 29 | 596,000 |
Capital Stock 30 | $ 596,000 |
Additional Paid-In Capital (Nar
Additional Paid-In Capital (Narrative) (Details) | 12 Months Ended |
Dec. 31, 2017USD ($)yrshares | |
Additional Paid-in Capital 1 | shares | 6,361,525 |
Additional Paid-in Capital 2 | yr | 10 |
Additional Paid-in Capital 3 | $ 0.44 |
Additional Paid-in Capital 4 | 0.33 |
Additional Paid-in Capital 5 | 0.32 |
Additional Paid-in Capital 6 | 315,000 |
Additional Paid-in Capital 7 | 195,000 |
Additional Paid-in Capital 8 | 196,000 |
Additional Paid-in Capital 9 | 320,000 |
Additional Paid-in Capital 10 | 5,000 |
Additional Paid-in Capital 11 | 11,000 |
Additional Paid-in Capital 12 | 196,000 |
Additional Paid-in Capital 13 | $ 196,000 |
Additional Paid-in Capital 14 | shares | 2,084,447 |
Additional Paid-in Capital 15 | shares | 2,084,447 |
Additional Paid-in Capital 16 | $ 0 |
Additional Paid-in Capital 17 | 1,176,000 |
Additional Paid-in Capital 18 | $ 1,176,000 |
Additional Paid-in Capital 19 | shares | 1,056,765 |
Additional Paid-in Capital 20 | shares | 1,056,765 |
Additional Paid-in Capital 21 | $ 0 |
Additional Paid-in Capital 22 | 596,000 |
Additional Paid-in Capital 23 | $ 596,000 |
Income Tax (Narrative) (Details
Income Tax (Narrative) (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Income Tax 1 | $ 9,560 |
Income Tax 2 | 7,585 |
Income Tax 3 | 10,052 |
Income Tax 4 | 7,763 |
Income Tax 5 | 1,553 |
Income Tax 6 | 1,190 |
Income Tax 7 | 8 |
Income Tax 8 | 10 |
Income Tax 9 | 180 |
Income Tax 10 | 158 |
Income Tax 11 | 134 |
Income Tax 12 | 143 |
Income Tax 13 | 179 |
Income Tax 14 | 119 |
Income Tax 15 | 90 |
Income Tax 16 | 106 |
Income Tax 17 | 146 |
Income Tax 18 | 280 |
Income Tax 19 | 7,532 |
Income Tax 20 | $ 5,438 |
Related Party Transactions (Nar
Related Party Transactions (Narrative) (Details) | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Related Party Transactions 1 | $ 10,000 |
Related Party Transactions 2 | 2,000 |
Related Party Transactions 3 | 37,000 |
Related Party Transactions 4 | 60,000 |
Related Party Transactions 5 | 3,000 |
Related Party Transactions 6 | 12,000 |
Related Party Transactions 7 | 9,000 |
Related Party Transactions 8 | 5 |
Related Party Transactions 9 | 0 |
Related Party Transactions 10 | 21 |
Related Party Transactions 11 | 37,000 |
Related Party Transactions 12 | 8 |
Related Party Transactions 13 | 131,000 |
Related Party Transactions 14 | 52,000 |
Related Party Transactions 15 | 256,000 |
Related Party Transactions 16 | 184,000 |
Related Party Transactions 17 | 0 |
Related Party Transactions 18 | $ 14,000 |
Subsequent events (Narrative) (
Subsequent events (Narrative) (Details) | 12 Months Ended |
Dec. 31, 2017USD ($)yr$ / sharesshares | |
Subsequent Events 1 | 100,000 |
Subsequent Events 2 | $ / shares | $ 0.79 |
Subsequent Events 3 | yr | 2 |
Subsequent Events 4 | 25.00% |
Subsequent Events 5 | 700,000 |
Subsequent Events 6 | 700,000 |
Subsequent Events 7 | $ | $ 0 |
Subsequent Events 8 | $ | $ 395,000 |
Schedule of Estimated Useful Li
Schedule of Estimated Useful Lives of Leasehold Improvements and Equipment (Details) | 12 Months Ended |
Dec. 31, 2017 | |
Laboratory and office equipment [Member] | |
Property, Plant and Equipment, Depreciation Methods | 20% |
Manufacturing equipment [Member] | Maximum [Member] | |
Property, Plant and Equipment, Useful Life | 10 years |
Manufacturing equipment [Member] | Minimum [Member] | |
Property, Plant and Equipment, Useful Life | 5 years |
Computer equipment [Member] | |
Property, Plant and Equipment, Depreciation Methods | 30% |
Schedule of Leasehold Improveme
Schedule of Leasehold Improvements and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Cost | $ 8,063 | |
Accumulated Depreciation | 1,717 | |
Net Carrying Amount | 6,346 | $ 5,730 |
Manufacturing equipment [Member] | ||
Cost | 3,328 | |
Accumulated Depreciation | 375 | |
Net Carrying Amount | 2,953 | 2,429 |
Laboratory and office equipment [Member] | ||
Cost | 1,380 | |
Accumulated Depreciation | 621 | |
Net Carrying Amount | 759 | 807 |
Computer equipment [Member] | ||
Cost | 102 | |
Accumulated Depreciation | 58 | |
Net Carrying Amount | 44 | 23 |
Leasehold improvements [Member] | ||
Cost | 3,253 | |
Accumulated Depreciation | 663 | |
Net Carrying Amount | $ 2,590 | $ 2,471 |
Term loan (Details)
Term loan (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Term loan facility | $ 2,233 | $ 2,636 |
Secured loan | 531 | 633 |
Total debt | 2,764 | 3,269 |
Less: current portion | 772 | 704 |
Total long-term debt | $ 1,992 | $ 2,565 |
Term loan principal repayments
Term loan principal repayments (Details) - Dec. 31, 2017 | USD ($) | CAD ($) |
2,018 | $ 772 | $ 969 |
2,019 | 753 | 945 |
2,020 | 753 | 945 |
2,021 | $ 486 | $ 610 |
Schedule of Convertible Debt (D
Schedule of Convertible Debt (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Convertible Debt | $ 6,058 | |
Transaction costs | (986) | |
Accretion | 127 | |
Convertible debentures | $ 5,199 | $ 0 |
Schedule of future minimum paym
Schedule of future minimum payments under operating leases (Details) | Dec. 31, 2017USD ($) |
2,018 | $ 150 |
2,019 | 152 |
2,020 | 156 |
2,021 | 158 |
2,022 | 161 |
Thereafter | $ 524 |
Schedule of Stock by Class (Det
Schedule of Stock by Class (Details) - USD ($) $ / shares in Units, $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Common Stock, Shares Authorized | 100,000,000 | 100,000,000 |
Common Stock, Par or Stated Value Per Share | $ 0.00001 | $ 0.00001 |
Preferred Stock, Shares Authorized | 20,000,000 | |
Preferred Stock, Par or Stated Value Per Share | $ 0.00001 | |
Common Stock, Shares, Issued | 67,031,467 | 64,812,020 |
Common Stock, Value, Issued | $ 1 | $ 1 |
Schedule of Share-based Payment
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details) - $ / shares | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Exercise price | $ 0.82 | $ 0.62 |
Expected volatility | 60.00% | 65.00% |
Expected life | 5 years 4 months 2 days | 4 years 7 months 6 days |
Risk-free interest rate | 1.85% | 1.39% |
Dividend yield | 0.00% | 0.00% |
Employees and directors stock options [Member] | ||
Exercise price | $ (0.46) | $ (0.45) |
Schedule of Stock Option Activi
Schedule of Stock Option Activity to Employees and Directors (Details) - $ / shares | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Exercise price | $ 0.82 | $ 0.62 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, End of Period | 2,989,818 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, End of Period | $ 0.65 | |
Employees and directors stock options [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Beginning of Period | 2,660,000 | 1,670,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning of Period | $ 0.60 | $ 0.56 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | 659,818 | 1,300,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 0.82 | $ 0.62 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | (170,000) | (50,000) |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price | $ (0.63) | $ (0.53) |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period | (75,000) | (120,000) |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period, Weighted Average Exercise Price | $ (0.65) | $ (0.43) |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | (135,000) | (140,000) |
Exercise price | $ (0.46) | $ (0.45) |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, End of Period | 2,939,818 | 2,660,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, End of Period | $ 0.65 | $ 0.60 |
Schedule of Stock Option Acti59
Schedule of Stock Option Activity to Consultants (Details) - $ / shares | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, End of Period | 2,989,818 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, End of Period | $ 0.65 | |
Consultant's stock options [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Beginning of Period | 0 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning of Period | $ 0 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | 50,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 0.73 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, End of Period | 50,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, End of Period | $ 0.73 |
Schedule of Share-based Compens
Schedule of Share-based Compensation, Stock Options, and Warrants or Rights Activity (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ 0.82 | $ 0.62 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Beginning of Period | 2,989,818 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | 5 years 5 months 5 days | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning of Period | $ 0.65 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value, Beginning of Period | $ 437,396 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number, Beginning of Period | 2,238,750 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price, Beginning of Period | $ 0.62 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value, Beginning of Period | $ 402,900 | |
Range 1 [Member] | ||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ 0.41 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Beginning of Period | 325,000 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | 3 months 29 days | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning of Period | $ 0.04 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number, Beginning of Period | 306,250 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price, Beginning of Period | $ 0.06 | |
Range 2 [Member] | ||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ 0.52 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Beginning of Period | 125,000 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | 14 days | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning of Period | $ 0.02 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number, Beginning of Period | 125,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price, Beginning of Period | $ 0.03 | |
Range 3 [Member] | ||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ 0.53 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Beginning of Period | 125,000 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | 29 days | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning of Period | $ 0.02 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number, Beginning of Period | 125,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price, Beginning of Period | $ 0.03 | |
Range 4 [Member] | ||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ 0.58 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Beginning of Period | 710,000 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | 6 months 29 days | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning of Period | $ 0.14 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number, Beginning of Period | 710,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price, Beginning of Period | $ 0.18 | |
Range 5 [Member] | ||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ 0.62 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Beginning of Period | 300,000 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | 2 months 23 days | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning of Period | $ 0.06 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number, Beginning of Period | 300,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price, Beginning of Period | $ 0.08 | |
Range 6 [Member] | ||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ 0.73 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Beginning of Period | 600,000 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | 1 year 7 months 28 days | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning of Period | $ 0.15 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number, Beginning of Period | 300,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price, Beginning of Period | $ 0.10 | |
Range 7 [Member] | ||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ 0.76 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Beginning of Period | 145,000 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | 5 months 8 days | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning of Period | $ 0.04 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number, Beginning of Period | 72,500 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price, Beginning of Period | $ 0.02 | |
Ramge 8 [Member] | ||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ 0.77 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Beginning of Period | 359,818 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | 1 year 1 month 28 days | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning of Period | $ 0.09 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number, Beginning of Period | 0 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price, Beginning of Period | $ 0 | |
Range 9 [Member] | ||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ 0.89 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Beginning of Period | 300,000 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | 10 months 28 days | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning of Period | $ 0.09 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number, Beginning of Period | 300,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price, Beginning of Period | $ 0.12 |
Schedule of Stockholders' Equit
Schedule of Stockholders' Equity Note, Warrants or Rights, Activity (Details) - $ / shares | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Class of Warrant or Right, Outstanding, Beginning of Period | 6,174,358 | 7,231,123 |
Class of Warrant or Right, Outstanding, Weighted Average Exercise Price, Beginning of Period | $ 0.5646 | $ 0.5646 |
Class of Warrant or Right, Exercises in Period | (2,084,447) | (1,056,765) |
Class of Warrant or Right, Exercises in Period, Weighted Average Exercise Price | $ (0.5646) | $ (0.5646) |
Class of Warrant or Right, Expirations in Period | (19,009) | |
Class of Warrant or Right, Expirations in Period, Weighted Average Exercise Price | $ (0.5646) | |
Class of Warrant or Right, Outstanding, End of Period | 4,070,902 | 6,174,358 |
Class of Warrant or Right, Outstanding, Weighted Average Exercise Price, End of Period | $ 0.5646 | $ 0.5646 |
Schedule of Effective Income Ta
Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Statutory income taxes | $ (794) | $ (305) |
Net operating losses for which no tax benefits have been recorded | 346 | 201 |
Deficiency of depreciation over capital cost allowance | (235) | (206) |
Non-deductible expenses | 239 | 105 |
Undeducted research and development expenses | 525 | 245 |
Investment tax credit | (81) | (40) |
Income Tax Expense (Benefit), Total | $ 0 | $ 0 |
Schedule of Deferred Tax Assets
Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Leasehold improvements and equipment | $ 252 | $ 201 |
Net operating losses carryforward | 2,620 | 2,062 |
Undeducted research and development expenses | 2,054 | 1,501 |
Non-refundable tax credits carryforward | 1,553 | 1,190 |
Deferred Tax Assets, Gross | 6,479 | 4,954 |
Valuation allowance | (6,479) | (4,954) |
Deferred Tax Assets, Net | $ 0 | $ 0 |
Schedule of Cash Flow, Suppleme
Schedule of Cash Flow, Supplemental Disclosures (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Interest Paid | $ 408 | $ 176 |