Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2015 | Nov. 19, 2015 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2015 | |
Trading Symbol | vsys | |
Entity Registrant Name | VISCOUNT SYSTEMS INC | |
Entity Central Index Key | 1,158,387 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 130,547,236 | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well Known Seasoned Issuer | No | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q3 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - CAD | Sep. 30, 2015 | Dec. 31, 2014 |
Current Assets | ||
Cash | CAD 173,713 | CAD 135,308 |
Short term investments | 55,000 | 55,000 |
Trade accounts receivable, net | 907,870 | 661,629 |
Prepaid expenses | 4,387 | 0 |
Inventory | 560,508 | 533,217 |
Total Current Assets | 1,701,478 | 1,385,154 |
Equipment | 175,959 | 206,004 |
Deposits | 8,391 | 1,391 |
Intangible assets | 0 | 5,224 |
Total Assets | 1,885,828 | 1,597,773 |
Current Liabilities | ||
Accounts payable | 970,696 | 362,595 |
Accrued liabilities | 550,845 | 564,466 |
Capital lease obligation - current portion | 10,964 | 10,285 |
Deferred revenue | 72,625 | 37,318 |
Due to related parties | 12,613 | 5,003 |
Loans payable | 114,536 | 114,536 |
Derivative liabilities | 427,999 | 2,858,618 |
Convertible redeemable preferred stock - see below | 2,027,026 | 0 |
Total Current Liabilities | 4,187,304 | 3,952,821 |
Capital lease obligation - non-current | 8,873 | 17,182 |
Total Liabilities | 4,196,177 | 3,970,003 |
Convertible redeemable preferred stock - US$0.001 par value; 20,000,000 shares authorized: Series A convertible redeemable preferred stock, stated value $1,000, 1,351 and 1,072 shares issued and outs tanding at September 30, 2015 and December 31, 2014, respectively; aggregate liquidation preference of $1,351,000 and $1,072,000 as of September 30, 2015 and December 31, 2014, respectively | 0 | 1 |
Stockholders' Deficit | ||
Common stock, par value US$0.001 per share, 300,000,000 shares authorized: 130,547,236 and 126,047,236 shares issued and outstanding at September 30, 2015, respectively, and 126,009,581 shares issued and outstanding at December 31, 2014 | 130,547 | 126,009 |
Additional paid-in capital | 8,170,074 | 10,163,296 |
Accumulated deficit | (10,610,970) | (12,661,536) |
Total Stockholders' Deficit | (2,310,349) | (2,372,231) |
Total Liabilities and Stockholders' Deficit | CAD 1,885,828 | CAD 1,597,773 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Parenthetical) | Sep. 30, 2015CADshares | Sep. 30, 2015$ / shares | Dec. 31, 2014CADshares | Dec. 31, 2014$ / shares |
Preferred Stock, Par Value Per Share | $ / shares | $ 0.001 | $ 0.001 | ||
Preferred Stock, Shares Authorized | 20,000,000 | 20,000,000 | ||
Preferred Stock, Stated Value | CAD | CAD 1,000 | CAD 1,000 | ||
Preferred Stock, Shares Issued | 1,351 | 1,072 | ||
Preferred Stock, Shares Outstanding | 1,351 | 1,072 | ||
Preferred Stock, Liquidation Preference, Value | CAD | CAD 1,351,000 | CAD 1,072,000 | ||
Common Stock, Par Value Per Share | $ / shares | $ 0.001 | $ 0.001 | ||
Common Stock, Shares Authorized | 300,000,000 | 300,000,000 | ||
Common Stock, Shares, Issued | 130,547,236 | 126,009,581 | ||
Common Stock, Shares, Outstanding | 126,047,236 | 126,009,581 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations - CAD | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Sales | CAD 1,177,211 | CAD 1,419,204 | CAD 4,582,017 | CAD 3,712,240 |
Cost of sales | 476,234 | 804,189 | 1,790,371 | 2,010,831 |
Gross profit | 700,977 | 615,015 | 2,791,646 | 1,701,409 |
Operating expenses: | ||||
Selling, general and administrative | 890,521 | 1,153,566 | 2,744,427 | 4,708,123 |
Research and development | 233,211 | 189,556 | 632,614 | 481,578 |
Total operating expenses | 1,123,732 | 1,343,122 | 3,377,041 | 5,189,701 |
Operating loss | (422,755) | (728,107) | (585,395) | (3,488,292) |
Other income (expense): | ||||
Interest income | 6 | 2,110 | 24 | 3,430 |
Interest expense | (6,049) | 0 | (61,933) | 0 |
Loss on settlement of convertible note | 0 | 0 | (63,324) | 0 |
Amortization of debt discount | 0 | 0 | (47,087) | 0 |
Change in fair value of derivative liabilities | 41,534 | 1,505,066 | 2,808,281 | 1,203,575 |
Total Other income (expense) | 35,491 | 1,507,176 | 2,635,961 | 1,207,005 |
Net (loss) income | (387,264) | 779,069 | 2,050,566 | (2,281,287) |
Preferred stock: | ||||
Series A convertible - contractual dividends | (37,765) | (82,414) | ||
Series A convertible - deemed dividends | (2,010,330) | (2,010,330) | ||
Net (loss) income attributable to common stockholders | CAD (2,435,359) | CAD 779,069 | CAD (42,178) | CAD (2,281,287) |
Per share data: | ||||
Net (loss) income - basic | CAD (0.02) | CAD 0.01 | CAD 0 | CAD (0.02) |
Net (loss) income - diluted | CAD (0.02) | CAD 0.01 | CAD 0 | CAD (0.02) |
Weighted average number of shares of common stock outstanding: | ||||
Basic | 126,047,236 | 126,009,581 | 126,040,891 | 117,236,991 |
Diluted | 126,047,236 | 126,009,581 | 175,403,366 | 117,236,991 |
Condensed Consolidated Stateme5
Condensed Consolidated Statement of Stockholders' Deficit - 9 months ended Sep. 30, 2015 - CAD | Common Stock [Member] | Additional paid-in capital [Member] | Accumulated deficit [Member] | Total |
Beginning Balance at Dec. 31, 2014 | CAD 126,009 | CAD 10,163,296 | CAD (12,661,536) | CAD (2,372,231) |
Beginning Balance (Shares) at Dec. 31, 2014 | 126,009,581 | |||
Series A Dividend issued | (82,414) | (82,414) | ||
Proceeds from sale of Common Stock & warrants | CAD 38 | 3,012 | 3,050 | |
Proceeds from sale of Common Stock & warrants (Shares) | 37,655 | |||
Common stock issued to directors for services | CAD 4,500 | (4,500) | ||
Common stock issued to directors for services (Shares) | 4,500,000 | |||
Stock-based compensation | 68,538 | 68,538 | ||
Warrants issued in connection with Series A Convertible Redeemable Preferred Stock Issuance | 32,472 | 32,472 | ||
Deemed dividend in connection with Series A convertible preferred stock redemption event | (2,010,330) | (2,010,330) | ||
Net income | 2,050,566 | 2,050,566 | ||
Ending Balance at Sep. 30, 2015 | CAD 130,547 | CAD 8,170,074 | CAD (10,610,970) | CAD (2,310,349) |
Ending Balance (Shares) at Sep. 30, 2015 | 130,547,236 |
Condensed Consolidated Stateme6
Condensed Consolidated Statements of Cash Flows - CAD | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Operating Activities | ||
Net income (loss) | CAD 2,050,566 | CAD (2,281,287) |
Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
Depreciation and amortization | 40,750 | 36,337 |
Provision for uncollectible receivables | (66,606) | 0 |
Provision for inventory obsolescence | 0 | 150,000 |
Change in fair value of derivative liabilities | (2,808,281) | (1,203,575) |
Stock based compensation | 68,538 | 1,609,579 |
Original issue discount on convertible debt | 18,750 | 0 |
Loss on settlement of convertible debt | 63,324 | 0 |
Amortization of debt discount | 47,087 | 0 |
Non-cash financing fees | 0 | 370,895 |
Changes in operating assets and liabilities: | ||
Accounts receivable | (179,635) | (344,197) |
Inventory | (27,291) | 37,774 |
Prepaid expenses | (4,387) | 0 |
Deposits | (7,000) | 0 |
Accounts payable | 608,104 | 8,275 |
Accrued liabilites | (13,621) | (62,059) |
Deferred revenue | 35,307 | 306 |
Due to related parties | 7,610 | (29,724) |
Net Cash Used in Operating Activities | (166,785) | (1,707,676) |
Cash Flows from Investing Activities | ||
Purchase of property and equipment | (5,480) | (150,091) |
Net cash used in investing activities | (5,480) | (150,091) |
Net Cash used in Financing Activities | ||
Capital lease payments | (7,630) | 0 |
Proceeds from convertible note | 197,500 | 0 |
Payment of deferred financing costs | (5,000) | 0 |
Repayment of convertible note | (211,250) | 0 |
Proceeds from sale of common stock and warrants | 3,050 | 2,366,570 |
Proceeds from sale of preferred stock | 234,000 | 0 |
Net cash provide by financing activities | 210,670 | 2,366,570 |
Increase in cash | 38,405 | 508,803 |
Cash, beginning of period | 135,308 | 172,684 |
Cash, end of period | 173,713 | 681,487 |
Supplementary Information: | ||
Interest paid | 43,183 | 0 |
Income taxes paid | 0 | 0 |
Non-cash investing and financing activities: | ||
Fair value of preferred shares issued as dividends | 82,414 | 0 |
Unvested common stock issued to board members | 4,500 | 0 |
Fair value of conversion options issued | 373,184 | 0 |
Accretion of Series A convertible preferred stock to redemption value | CAD 2,010,330 | CAD 0 |
Organization
Organization | 9 Months Ended |
Sep. 30, 2015 | |
Organization [Text Block] | 1. Organization Viscount Systems, Inc. (the “Company”) was incorporated on May 24, 2001 in the State of Nevada. The Company manufactures, distributes, and provides services for electronic premises access and security equipment primarily through its wholly owned Canadian subsidiary, Viscount Communication and Control Systems Inc. The Company’s legacy business, existing since 1969, consists of products and services for high rise residential and office buildings, generally described as telephone access. These products allow visitors to contact tenants or offices via a lobby device to gain entry. The Company has various brands in this marketplace, with high end products called MESH, and lower cost products called Enterphone, selling through dealers for Canada and the United States. The Company’s Freedom Access Control software solution (“Freedom”) controls entry doors throughout a business, hospital, school, or other buildings, and prevents entry by persons unknown or staff attempting to enter at the wrong time of day. |
Basis of Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2015 | |
Basis of Presentation [Text Block] | 2. Basis of Presentation These unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions for Form 10-Q and from Article 8-03 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for a complete set of annual financial statements. These financial statements should be read in conjunction with the audited annual consolidated financial statements of the Company filed on Form 10-K for the year ended December 31, 2014. The operating results for the periods presented are not necessarily indicative of the results that will occur for the year ending December 31, 2015 or for any other period. The financial information as of September 30, 2015 and for the three and nine months ended September 30, 2015 and 2014 is unaudited; however, such financial information includes all adjustments, consisting solely of normal recurring adjustments, which, are necessary for the fair presentation of the financial information in conformity with U.S. GAAP. |
Going Concern and Liquidity
Going Concern and Liquidity | 9 Months Ended |
Sep. 30, 2015 | |
Going Concern and Liquidity [Text Block] | 3. Going Concern and Liquidity These condensed consolidated financial statements have been prepared on a going concern basis, which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The Company has an accumulated deficit of $10,610,970 and an operating loss for the three and nine months ended September 30, 2015 of $422,755 and $585,395, respectively. The ability to sustain the current level of operations is dependent on raising additional capital and/or growing sales and achieving profits. These factors raise substantial doubt about the ability of the Company to continue operations as a going concern. The condensed consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts of liabilities that might be necessary should the Company be unable to continue in existence. Based on its current financial position, including the potential issuance of a substantial amount of demand notes (see Note 8), the Company could be required to fund its operations on a month-to-month basis. The Company recognizes it will need to raise additional capital in order to fund operations, meet its payment obligations and execute its business plan. The Company is currently in negotiations regarding a financing. There is no assurance that additional financing will be available when needed or that management will be able to obtain financing on terms acceptable to the Company and whether the Company will become profitable and generate positive operating cash flow. If the Company is unable to raise sufficient additional funds, it will have to develop and implement a plan to further extend payables and reduce overhead until sufficient additional capital is raised to support further operations. There can be no assurance that such a plan will be successful. If the Company is unable to obtain financing on a timely basis, the Company could be forced to sell its assets and discontinue its operation. Accordingly, the accompanying condensed consolidated financial statements have been prepared in conformity with U.S. GAAP, which contemplates continuation of the Company as a going concern and the realization of assets and the satisfaction of liabilities in the normal course of business. The carrying amounts of assets and liabilities presented in the condensed consolidated financial statements do not necessarily represent realizable or settlement values. The condensed consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. |
Significant Accounting Policies
Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2015 | |
Significant Accounting Policies [Text Block] | 4. Significant Accounting Policies Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company’s significant estimates include reserves related to accounts receivable and inventory, the recoverability and useful lives of long-lived assets, the valuation allowance related to deferred tax assets and the valuation of equity instruments and derivative liabilities. Concentration of Credit Risk The Company maintains deposits in financial institutions which are insured by the Federal Deposit Insurance Corporation (“FDIC”). At various times, the Company has deposits in these financial institutions in excess of the amount insured by the FDIC. Allowance for Doubtful Accounts Receivable Accounts receivable are shown net of an allowance for doubtful accounts of $114,923 and $181,529 as of September 30, 2015 and December 31, 2014, respectively. The Company’s management has established an allowance for doubtful accounts sufficient to cover probable and reasonably estimable losses. The nature of the business is that the majority of the payments are made before the product is delivered. If the financial conditions of customers were to materially deteriorate, an increase in the allowance amount could be required. The allowance for doubtful accounts considers a number of factors, including collection experience, current economic trends, estimates of forecasted write-offs, aging of the accounts receivable, and other factors. Accounts Receivable Factoring On March 24, 2015, the Company entered into a one year agreement with a financing company to factor its trade accounts receivables. The financing company offered a credit facility not to exceed $1,000,000 through the purchase of eligible accounts receivable at a discount rate of 3.65% of the face value of the purchased receivable plus 1/10% per day on any receivable outstanding after 35 days from the date of invoice purchase. Any amounts that remain unpaid 90 days after the initial invoice date, or any dispute raised by the customer will be repurchased by the Company or replaced by eligible receivables. As of September 30, 2015, invoices totaling, in the aggregate, $82,627 had been factored. The Company’s accounts receivable are purchased by the financing company on a recourse basis. Accordingly, the accounts receivable are retained on the Company’s balance sheet while advances from the financing company are recorded as accrued liabilities. Discounts provided and interest charged related to factoring of the accounts receivable have been expensed on the accompanying condensed consolidated statements of operations as interest expense. Stock-Based Compensation Stock-based compensation expense for all stock-based payment awards is based on the estimated fair value of the award. For employees and directors, the award is measured on the grant date. For non-employees, the award is measured on the grant date and is then remeasured at each vesting date and financial reporting date. The Company generally issues new shares of the Company’s common stock, par value US$0.001 per share (the “common stock”) to satisfy option and warrant exercises. Preferred Stock The Company applies the guidance enumerated in Accounting Standards Codification 480 “Distinguishing Liabilities from Equity” (“ASC 480”) when determining the classification and measurement of preferred stock. Preferred shares subject to mandatory redemption (if any) are classified as liability instruments and are measured at fair value. The Company classifies conditionally redeemable preferred shares, which includes preferred shares that feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control, as temporary equity. At all other times, the Company classifies its preferred shares in stockholders’ equity. As of September 30, 2015 and December 31, 2014, in accordance with ASC 480-10-S99, since certain of the Company’s preferred shares contain redemption rights which are not solely within the Company’s control, these issuances of preferred stock have been presented as temporary equity. Common Stock Warrants and Other Derivative Financial Instruments The Company classifies as equity any contracts that (i) require physical settlement or net-share settlement or (ii) provide the Company with a choice of net-cash settlement or settlement in its own shares (physical settlement or net-share settlement) providing that such contracts are indexed to the Company’s own stock. The Company classifies as assets or liabilities any contracts that (i) require net-cash settlement (including a requirement to net cash settle the contract if an event occurs and if that event is outside the Company’s control) or (ii) gives the counterparty a choice of net-cash settlement or settlement in shares (physical settlement or net-share settlement). The Company assesses classification of its common stock warrants and other free standing derivatives at each reporting date to determine whether a change in classification between assets, liabilities and equity is required. The Company evaluated its free standing warrants to purchase common stock to assess their proper classification in the balance sheets as of September 30, 2015 and December 31, 2014 using the applicable classification criteria enumerated under U.S. GAAP and determined that the common stock purchase warrants should be classified as a derivative liability, as these warrants were denominated in U.S. dollars, while the functional currency of the Company is Canadian dollars. Therefore, each period, these U.S. denominated warrants must be re-valued. Sequencing Policy Under ASC 815-40-35, the Company has adopted a sequencing policy that reclassifies contracts from equity to assets or liabilities for those with the earliest inception date first. Future issuances of securities will be evaluated as to reclassification as a liability under our sequencing policy of earliest inception date first until either all of the shares underlying the Company’s Series A Convertible Redeemable Preferred Stock, par value US$0.001 per share (the “Series A Shares”), are settled or expire. Reclassifications Certain accounts in the prior period condensed consolidated financial statements have been reclassified for comparison purposes to conform to the presentation of the current period condensed consolidated financial statements. These reclassifications had no effect on the previously reported net loss. Recent Accounting Pronouncements In July 2015, the Financing Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2015-11, Simplifying the Measurement of Inventory (“ASU 2015-11”). Under ASU 2015-11 entities should measure inventory that is not measured using last-in, first-out (LIFO) or the retail inventory method, including inventory that is measured using first-in, first-out (FIFO) or average cost, at the lower of cost or 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. ASU 2015-11 is effective for reporting periods beginning after December 15, 2016 and is to be applied prospectively. The Company is currently evaluating the impact the adoption of ASU 2015-11 will have on its condensed consolidated financial position, results of operations and cash flows. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers. This ASU supersedes the revenue recognition requirements in Accounting Standards Codification 605 - Revenue Recognition and most industry-specific guidance throughout the Codification. The standard requires that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. This ASU is effective on January 1, 2017 and should be applied retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of initially applying the ASU recognized at the date of initial application. The Company has not yet determined the effect of the adoption of this standard and its impact on the Company's condensed consolidated financial position and results of operations. There are other various updates recently issued, most of which represented technical corrections to the accounting literature or application to specific industries and are not expected to a have a material impact on the Company's condensed consolidated financial position, results of operations or cash flows. Concentrations During the three months ended September 30, 2015, one customer comprised approximately $121,000 or 10% of the Company's sales. During the nine months ended September 30, 2015, another customer comprised approximately $726,000 or 16% of the Company's sales. We had no such concentrations during the three and nine months ended September 30, 2014. As of September 30, 2015, there were no accounts receivable due from these customers. |
Inventory
Inventory | 9 Months Ended |
Sep. 30, 2015 | |
Inventory [Text Block] | 5. Inventory Inventory consists of the following: September 30, December 31, 2015 2014 Raw materials $ 651,348 $ 606,547 Work in process 73,720 25,683 Finished goods 152,887 218,434 Sub total 877,955 850,664 Reserve for obsolescence and shrinkage (317,447 ) (317,447 ) Total $ 560,508 $ 533,217 |
Due to Related Parties
Due to Related Parties | 9 Months Ended |
Sep. 30, 2015 | |
Due to Related Parties [Text Block] | 6. Due to Related Parties Amounts due to directors for director fees and travel expenses totaled $12,613 at September 30, 2015 (December 31, 2014 - $5,003). These amounts are unsecured, non-interest bearing and have no specified terms of repayment. |
Repayment of Convertible Debt
Repayment of Convertible Debt | 9 Months Ended |
Sep. 30, 2015 | |
Repayment of Convertible Debt [Text Block] | 7. Repayment of Convertible Debt On April 2, 2015, the Company received proceeds from the issuance of an 8% Convertible Promissory Note (the “Note”) aggregating approximately US $154,000 (CAD $192,500) after payment of deferred financing costs of US $4,000 (CAD $5,000). The Note matures in one year and had a principal amount of US $169,000 (CAD $211,250) and was convertible 180 days from the date of the Note at a conversion price equal to a 35% discount rate to the market price, subject to certain adjustments, including dilutive issuances. The Note was recorded net of an original issue discount of US $15,000 (CAD $18,750). The Note also contained certain early payment penalties, based on the date of prepayment. The Company determined that (a) the conversion option of the Note contained an anti-dilution provision whereby the exercise price can be adjusted based on certain new issuances; and (b) the Note is denominated in a currency other than the functional currency of the Company, and accordingly, the Company bifurcated the conversion option and recorded a derivative liability of US $150,800 (CAD $188,349) with a corresponding debt discount which is amortized through the term of the Note to interest expense over the term of the Note, using the effective interest method. The conversion option was valued using a binomial model and marked-to-market through June 30, 2015 with a change in fair value of CAD $110,411. The Company recorded amortization of the debt discount of US $37,699 (CAD $47,087) for the three months ended June 30, 2015. On June 30, 2015, the Company repaid the Note, accrued interest and a 20% prepayment penalty on the Note, with the total repayment aggregating US $206,133 (CAD $248,384). On the date of the repayment, the remaining debt discount and conversion option liability were charged to earnings, resulting in a loss on settlement of the Note of US $53,101 (CAD $66,324). |
Series A Shares
Series A Shares | 9 Months Ended |
Sep. 30, 2015 | |
Series A Shares [Text Block] | 8. Series A Shares On January 20, 2015, the Company erroneously issued 2,925,000 shares of common stock to an entity whose general partner is managed by a member of the Company’s Board of Directors (the “Board”) and the shares were then cancelled in February 2015 and replaced with 200 Series A Shares in exchange for cash proceeds of US$200,000 (CAD$234,000). The Series A Shares contain certain rights and preferences as follows: • convertible into shares of common stock at the lower of US$0.07 per share, 85% of the previous twenty day volume weighted average pricing or 85% of the previous ten day volume weighted average pricing. • dividends of 8% per annum, payable quarterly, in cash or Series A Shares. • a holder of Series A Shares may not convert such Series A Shares into common stock exceeding either (i) 4.99% or (ii) 9.99% of the common stock outstanding unless such holder provides the Company with 61 days' notice that this limitation shall be waived. • no holder of Series A Shares shall be entitled to exercise more than 4.99% of the voting power of all of the Company's outstanding common stock. • registration rights to the holders of the Series A Shares that may be exercised in certain circumstances. • holders of Series A Shares are entitled to be paid 125% of the stated value of the Series A Shares, plus all accrued, but unpaid dividends on Series A Shares, upon liquidation or dissolution of the Company, including forms of mergers and acquisitions, in priority to any payments to the holders of shares of common stock. • holders of the Series A Shares may cause the Company to redeem the Series A Shares for 150% of their stated value, plus all accrued, but unpaid dividends on Series A Shares, upon the occurrence of a default, which includes being in default on any material contracts, securities, indebtedness, Articles of Incorporation and/or By-laws, delisting or late filing with the U.S. Securities and Exchange Commission (the “SEC”). Since the Series A Shares are redeemable in certain circumstances which are considered to be outside the control of the Company, such shares have been classified as temporary equity. The Series A Shares were assessed under ASC 480 and the Company determined that the contingent redemption provisions associated with the financial instruments made them more akin to debt than equity. The Series A Shares are deemed to be a debt host contract because the embedded conversion option is not clearly and closely related to the host contract and, accordingly, the embedded conversion option is subject to bifurcation and separate evaluation. The conversion option has been bifurcated and the Company recorded their issuance date fair value of $184,835 (valued using the Binomial Lattice model) with the change in fair value recorded in the condensed consolidated statement of operations at each reporting period. In conjunction with this issuance of Series A Shares, the Company also issued 1,462,500 warrants, each exercisable into one share of common stock at CAD$0.16 per share for a period of five years, which are exercisable on a cashless basis. The Company determined that these warrants should be classified as equity and, accordingly, they were valued using the Black-Scholes model and the relative fair value of such warrants of $32,472 was allocated to additional paid-in capital and the residual proceeds associated with the Series A Shares were allocated to temporary equity because the preferred stock is contingently redeemable. During the nine months ended September 30, 2015, the Company issued 79 Series A Shares representing Series A quarterly dividends. The embedded conversion options associated with the Series A Shares were valued using the Binomial Lattice model as they were denominated in USD currency and not in the Company’s reporting currency. The embedded conversion options associated with the Series A Shares were valued at $82,414 was recorded as a derivative liability. As the Company’s Quarterly Report on Form 10-Q (the “Form 10 -Q”) for the quarter ended June 30, 2015 was not timely filed with the SEC (a “Redemption Event”), the Company is required to redeem the Series A Shares for 150% of their value if holders of 10% of the Stated Value (as defined in the Company’s Certificate of Designation, Preferences and Rights of the Series A Shares, as amended (the “Certificate”)) of the Series A Shares provide the Company with a written notice of redemption within sixty days after the Redemption Event becomes known to such holders (a “Redemption Request”). As of the date of this Form 10-Q, the Company has not received a Redemption Request or a waiver from holders of Series A Shares waiving their redemption rights in connection with the Redemption Event. Subsequent to September 30, 2015, the Company is in negotiations to issue Senior Secured Convertible Demand Promissory A Notes (the “Series A Demand Notes”) to certain holders of Series A Shares in the aggregate principal amount equal to 150% of the stated value of their Series A Shares in exchange for their outstanding Series A Shares. Interest on the Series A Demand Notes accrues at 14% per annum if all or any portion of the interest payable on the Series A Demand Notes is paid in cash (increasing to the lesser of 21% per annum and the highest amount permitted by applicable law in case of an event of default) and it accrues at 5% for each 30 days if all or any portion of the interest payable on the Series A Demand Notes is paid in Series A Demand Notes (increasing to 8% for each 30 days in case of an event of default). Accordingly, as of September 30, 2015, the Company recorded a $2,010,330 deemed dividend in order to accrete the Series A Shares up to its redemption value ( 150% of the stated value). In addition, the balance of the Series A Shares was reclassified from the mezzanine presentation to a current liability. |
Revised Consolidated Financial
Revised Consolidated Financial Statements | 9 Months Ended |
Sep. 30, 2015 | |
Revised Consolidated Financial Statements [Text Block] | 9. Revised Consolidated Financial Statements Balance Sheet During the preparation of the Form 10-Q for the three months ended March 31, 2015, the Company identified an issue with the presentation of the Series A Shares as of December 31, 2014. The Series A Shares should be presented on the consolidated balance sheet outside of permanent equity since they are contingently redeemable for cash. There was no error in the accounting for the Series A Shares, other than the classification, and we believe this change in presentation has no material effect on the Company's financial statements. In accordance with SEC Staff Accounting Bulletin No 108 (“SAB 108 ”), the Company has evaluated this error, based on an analysis of quantitative and qualitative factors, as to whether it was material to the consolidated balance sheet as of December 31, 2014 and if amendments of previously filed financial statements with the SEC are required. The Company has determined that quantitatively and qualitatively, the classification error has no material impact to the consolidated balance sheet as of December 31, 2014, or prior periods. Income Statement During the preparation of the Form 10-Q for the three and nine months ended September 30, 2015, the Company identified an issue with the condensed consolidated statement of operations for the three months ended September 30, 2014, because the amounts included in those results didn’t represent the difference between the results for the nine months ended September 30, 2014 and the six months ended June 30, 2014. There was no error in the accounting for the nine months ended September 30, 2014. |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 9 Months Ended |
Sep. 30, 2015 | |
Fair Value of Financial Instruments [Text Block] | 10. Fair Value of Financial Instruments The Company’s financial instruments consist of cash, short-term investments, trade accounts receivable, accounts payable, accrued liabilities, capital lease obligations, due to related parties and loans payable. The carrying amount of these financial instruments approximates fair value due either to length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. These fair value measurements apply to all financial instruments that are measured and reported on a fair value basis. Based on the observability of the inputs used in the valuation techniques, financial instruments are categorized according to the fair value hierarchy, which ranks the quality and reliability of the information used to determine fair values. Financial assets and liabilities carried at fair value are classified and disclosed in one of the following three categories: Level 1 — Observable inputs such as quoted prices in active markets. Level 2 — Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly. Level 3 — Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. Financial assets are considered Level 3 when their fair values are determined using pricing models, discounted cash flow methodologies or similar techniques and at least one significant model assumption or input is unobservable. The assessed level that a financial asset or liability will carry is determined by the Company’s Chief Executive Officer. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the assignment of an asset or liability within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability. The Company uses Level 3 of the fair value hierarchy to measure the fair value of the derivative liabilities and revalues its derivative liabilities at every reporting period and recognizes gains or losses in the condensed consolidated statements of operations that are attributable to the change in the fair value of the derivative liabilities. A summary of the Company's Level 3 derivative liabilities for the nine months ended September 30, 2015 is as follows: Balance, December 31, 2014 $ 2,858,618 Fair value change of derivative liabilities (2,808,281 ) Fair value of embedded conversion options issued 373,184 Fair value of embedded conversion options in preferred shares issued as dividends 82,414 Transfers out due to extinguishment of financial instruments (77,936 ) Balance, September 30, 2015 $ 427,999 The derivative liabilities consist of the fair value of certain share purchase warrants that were issued in unit private placements that have an exercise price in a currency other than the functional currency of the Company, as well as embedded conversion options in Series A Shares. As of September 30, 2015, the Company’s derivative liabilities consisted of conversion options of $273,299 and warrant liabilities of $154,700, respectively. The fair value of the warrants and embedded conversion options were determined using the Black-Scholes option pricing model and the Binomial Lattice model depending on their characteristics, using the following current market assumptions for the nine months ended: September 30, 2015 2014 Volatility 94.9% - 117% 92% - 176% Risk-free interest rate 0.33% - 1.37% 0.44% - 1.73% Contractual term 0.33 - 5.00 yrs 1.84 - 5.00 yrs |
Capital Stock
Capital Stock | 9 Months Ended |
Sep. 30, 2015 | |
Capital Stock [Text Block] | 11. Capital Stock Common Stock Members of the Board are awarded shares of common stock (the “Restricted Common Stock”) as compensation for performing Board activities. On May 19, 2015, members of the Board received an aggregate of 4,500,000 shares of restricted common stock valued at $168,615, which will vest one year from the issuance date. These shares are expensed over the vesting period. During the three and nine months ended September 30, 2015, the Company recorded $29,502 and $61,826 of stock based compensation, respectively, related to the Restricted Common Stock. As of September 30, 2015 the unamortized value of the Restricted Common Stock is $106,789, which will be expensed over the remaining amortization period of 7.6 months. As of September 30, 2015, 4,500,000 shares of restricted common stock are unvested. Stock Options All stock options granted are exercisable in US$. A summary of the stock option activity for the nine months ended September 30, 2015 is as follows: Weighted Weighted Average Aggregate Number of Average Remaining Life Intrinsic Options Exercise Price In Years Value Outstanding at January 1, 2015 12,022,075 US$0.09 Employee Options Granted 400,000 US$0.06 Forfeited (330,000 ) US$0.09 Expired (20,000 ) US$0.10 Outstanding at September 30, 2015 12,072,075 US$0.09 3.42 $ - Exercisable at September 30, 2015 11,822,075 US$0.09 3.22 $ - On May 19, 2015, the Company granted ten-year options to two employees, one to purchase an aggregate of 150,000 shares of common stock at an exercise price of US$0.02 vested upon grant date and the other to purchase an aggregate of 250,000 shares of common stock at an exercise price of US$0.04, vesting six months from the grant date. The options had an aggregate grant date fair value of $8,000 which will be recognized proportionate to the vesting period. The Company computed the fair value of options granted using the Black Scholes option pricing model, with the following assumptions: For the Nine months Ended For the Three months Ended For the Nine months Ended September 30, 2015 September 30, 2014 September 30, 2014 Risk free interest rate 0.28% - 0.98% 0.97% 0.97% - 1.55% Expected term 3 years 3 years 3 - 5 years Expected volatility 80% - 140% 140% 113% - 140% Expected dividends 0% 0% 0% The weighted average grant date fair value of options granted during the three and nine months ended September 30, 2015 was $0.00 and $0.02 per share, respectively. The weighted average grant date fair value of options granted during the three and nine months ended September 30, 2014 was $0.07 and $0.09 per share, respectively. A summary of the stock options outstanding and exercisable at September 30, 2015 is as follows: Exercisable Options Outstanding Exercisable Remaining Number of Number of Contractual Life Aggregate Exercise Price Options Options in years Intrinsic Value US$ $0.02 150,000 150,000 9.6 $ - US$ $0.04 304,375 54,375 0.2 - US$ $0.08 1,500,000 1,500,000 0.7 - US$ $0.09 10,016,450 10,016,450 3.6 - US$ $0.10 45,000 45,000 1.8 - US$ $0.15 56,250 56,250 0.2 - 12,072,075 11,822,075 3.2 $ - During the three and nine months ended September 30, 2015, the Company recorded stock based compensation expense of $6,750 and $6,750, respectively, related to the amortization of stock options. During the three and nine months ended September 30, 2014, the Company recorded stock based compensation expense of $11,684 and $919,632, respectively, related to the amortization of stock options. As of September 30, 2015, there was $1,250 of unrecognized stock based compensation expense related to the May 19, 2015 stock option grants which will be amortized over the remaining amortization period of 1.5 months. Warrants A summary of warrant activity during the nine months ended September 30, 2015 is as follows: [1] Weighted Weighted Average Aggregate Number of Average Remaining Life Intrinsic Warrants Exercise Price In Years Value Outstanding at January 1, 2015 80,890,801 CAD$0.12 Iss ued in private placement transactions 1,462,500 CAD$0.16 Issued as compensation warrants 348,827 CAD$0.14 Outstanding at September 30, 2015 82,702,128 CAD$0.13 1.55 $ - Exercisable at September 30, 2015 82,702,128 CAD$0.13 1.55 $ - [1] US$ denominated warrants are reflected in their CAD$ equivalents. On February 18, 2015, the Company also issued a total of 18,827 warrants of which 10,852 warrants were issued to an investor in connection with the common stock and 7,975 warrants to a Board member, to acquire Company stock at an exercise price of CAD$0.16 per share for a period of five years from the closing date. The warrants may be exercised on a cashless basis. These warrants were valued using a Binomial Model resulting in a compensation expense of $909. On May 1, 2015, the Company entered into a six month engagement agreement with a service provider pursuant to which the Company issued an immediately vested, five year warrant to purchase 330,000 shares of common stock at an exercise price of US $0.05 per share. The fair value of the warrants was US $4,401 on the grant date which amount is being amortized over the engagement term. The Company computed the fair value of compensation warrants granted using the Binomial Model, with the following assumptions: For the Nine Months Ended September 30, 2015 Risk free interest rate 1.37% - 1.50% Expected term 5.00 Expected volatility 104% - 107% Expected dividends 0.00% The weighted average grant date fair value of warrants granted during the nine months ended September 30, 2015 $0.05 per share. There were no warrants granted during the three months ended September 30, 2015. The weighted average grant date fair value of warrants granted during the three and nine months ended September 30, 2014 was $0.08 and $0.08, respectively. A summary of the warrants outstanding and exercisable at September 30, 2015 is as follows: Weighted Average Remaining Weighted Average Contractual Life Exercise Price Warrants in years CAD$ 0.065 2,500,000 0.73 CAD$ 0.080 19,100,001 0.24 CAD$ 0.090 975,000 3.82 CAD$ 0.160 1,481,327 4.26 US$ 0.050 17,272,014 1.79 US$ 0.080 9,849,999 0.36 US$ 0.090 4,937,650 1.80 US$ 0.095 500,000 3.99 US$ 0.100 7,690,000 2.63 US$ 0.180 3,749,996 0.63 US$ 0.200 14,646,141 3.13 CAD$ 0.130 82,702,128 1.55 The warrants outstanding have no aggregate intrinsic value as of September 30, 2015. |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2015 | |
Commitments and Contingencies [Text Block] | 12. Commitments and Contingencies Litigation In the normal course of business, the Company may be involved in legal proceedings, claims and assessments arising in the ordinary course of business. Such matters are subject to many uncertainties, and outcomes are not predictable with assurance. There are no such matters that are deemed material to the condensed consolidated financial statements as of September 30, 2015 and December 31, 2014. Operating Leases Rent expense included in the condensed consolidated statements of operations for the nine months ended September 30, 2015 and 2014 is $108,167 and $106,362, respectively and $36,389 and $35,990 for the three months ended September 30, 2015 and 2014, respectively. Consulting Agreement The Company had an agreement with a consultant for public and investor relations. As consideration, the Company remitted a monthly fee of $12,500, of which $7,500 per month was paid in cash and $5,000 per month was paid in restricted stock. The agreement was for an initial period of six months from January to June 2015. On June 30, 2015, the agreement was terminated effective September 30, 2015. |
Segment Information
Segment Information | 9 Months Ended |
Sep. 30, 2015 | |
Segment Information [Text Block] | 13. Segment Information The Company organizes its business into two reportable segments: manufacturing and servicing. The manufacturing segment designs, produces and sells intercom and door access control systems that utilize telecommunications to control access to buildings and other facilities for security purposes. The servicing segment provides maintenance to these intercom and door access control systems. Management evaluates performance based on profit or loss from operations before income taxes and nonrecurring gains and losses, if any. Retail prices are used to report intersegment sales. The following table summarizes financial information about the Company’s business segments as of and for the three and nine months ended September 30, 2015 and 2014. As of and for the three months ended September 30, 2015 Manufacturing Servicing Total Sales to external customers $ 912,135 $ 265,076 $ 1,177,211 Depreciation and amortization $ 11,887 $ - $ 11,887 Segment operating (loss) income $ (623,647 ) $ 200,892 $ (422,755 ) Total assets $ 1,885,828 $ - $ 1,885,828 As of and for the three months ended September 30, 2014 (revised - see Note 9) Manufacturing Servicing Total Sales to external customers $ 1,044,226 $ 374,978 $ 1,419,204 Depreciation and amortization $ 15,913 $ 5,223 $ 21,136 Segment operating (loss) income $ (808,355 ) $ 80,248 $ (728,107 ) Total assets $ 2,138,807 $ 10,447 $ 2,149,254 As of and for the nine months ended September 30, 2015 Manufacturing Servicing Total Sales to external customers $ 3,800,541 $ 781,476 $ 4,582,017 Depreciation and amortization $ 35,527 $ 5,223 $ 40,750 Segment operating (loss) income $ (1,030,523 ) $ 445,128 $ (585,395 ) Total assets $ 1,885,828 $ - $ 1,885,828 As of and for the nine months ended September 30, 2014 Manufacturing Servicing Total Sales to external customers $ 2,842,222 $ 870,018 $ 3,712,240 Depreciation and amortization $ 20,668 $ 15,669 $ 36,337 Segment operating loss $ (3,278,132 ) $ (210,160 ) $ (3,488,292 ) Total assets $ 2,138,807 $ 10,447 $ 2,149,254 Of the total sales for the nine months ended September 30, 2015 and 2014, $2,125,467 and $947,821, respectively, was derived from U.S.- based customers and $2,456,550 and $2,764,419, respectively was derived from Canadian-based customers. Substantially all of the Company's operations, assets and employees are located in Canada. MESH sales represented 40% and 38.5% of total revenue during the nine months ended September 30, 2015 and 2014, respectively. Freedom sales represented 43% and 34% of total revenue during the nine months ended September 30, 2015 and 2014, respectively. The balance of the Company’s revenues are derived from other products such as access tracking and control, closed circuit monitors, infrared and radio frequency remotes and servicing of intercom equipment. |
Net (Loss) Income per Share of
Net (Loss) Income per Share of Common Stock | 9 Months Ended |
Sep. 30, 2015 | |
Net (Loss) Income per Share of Common Stock [Text Block] | 14. Net (Loss) Income per Share of Common Stock Basic net (loss) income per share is computed by dividing net (loss) income by the weighted-average number of common shares outstanding. Diluted net (loss) income per share is computed by dividing net (loss) income by the weighted-average number of common shares outstanding, adjusted for the effect of dilutive securities using the treasury stock method. The following table sets forth the computation of basic and diluted (loss) income per common share. Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Numerator: Net (loss) income $ (387,264 ) $ 779,069 $ 2,050,566 $ (2,281,287 ) Preferred stock: Series A convertible - contractual dividends (37,765 ) (82,414 ) Series A convertible - deemed dividends (2,010,330 ) - (2,010,330 ) - Net (loss) income attributable to common stockholders $ (2,435,359 ) $ 779,069 $ (42,178 ) $ (2,281,287 ) Denominator: Weighted average number of common shares 126,047,236 126,009,581 126,040,891 117,236,991 Effect of dilutive securities : Dilutive securities realizable from the vesting of - - 4,500,000 - Convertible preferred stock, Series A - - 44,862,475 - Total dilutive shares - - 49,362,475 - Weighted average number of common shares 126,047,236 126,009,581 175,403,366 117,236,991 Earnings per share: Basic $ (0.02 ) $ 0.01 $ (0.00 ) $ (0.02 ) Diluted $ (0.02 ) $ 0.01 $ (0.00 ) $ (0.02 ) The following potentially dilutive securities have been excluded from the calculation of weighted average diluted common shares because their inclusion would have been anti-dilutive: September 30, 2015 2014 Warrants 82,702,128 80,890,801 Options 12,072,075 11,752,075 Series A preferred stock - 4,260,435 Total potentially dilutive shares 94,774,203 96,903,311 |
Subsequent Events
Subsequent Events | 9 Months Ended |
Sep. 30, 2015 | |
Subsequent Events [Text Block] | 15. Subsequent Events Management has evaluated subsequent events or transactions occurring through the date on which the financial statements were issued. Based upon that evaluation, the Company did not identify any recognized or non- recognized subsequent events that would have required adjustment or disclosure in the condensed consolidated financial statements. |
Summary of Significant Accounti
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2015 | |
Use of Estimates [Policy Text Block] | Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company’s significant estimates include reserves related to accounts receivable and inventory, the recoverability and useful lives of long-lived assets, the valuation allowance related to deferred tax assets and the valuation of equity instruments and derivative liabilities. |
Concentration of Credit Risk [Policy Text Block] | Concentration of Credit Risk The Company maintains deposits in financial institutions which are insured by the Federal Deposit Insurance Corporation (“FDIC”). At various times, the Company has deposits in these financial institutions in excess of the amount insured by the FDIC. |
Allowance for Doubtful Accounts Receivable [Policy Text Block] | Allowance for Doubtful Accounts Receivable Accounts receivable are shown net of an allowance for doubtful accounts of $114,923 and $181,529 as of September 30, 2015 and December 31, 2014, respectively. The Company’s management has established an allowance for doubtful accounts sufficient to cover probable and reasonably estimable losses. The nature of the business is that the majority of the payments are made before the product is delivered. If the financial conditions of customers were to materially deteriorate, an increase in the allowance amount could be required. The allowance for doubtful accounts considers a number of factors, including collection experience, current economic trends, estimates of forecasted write-offs, aging of the accounts receivable, and other factors. |
Accounts Receivable Factoring [Policy Text Block] | Accounts Receivable Factoring On March 24, 2015, the Company entered into a one year agreement with a financing company to factor its trade accounts receivables. The financing company offered a credit facility not to exceed $1,000,000 through the purchase of eligible accounts receivable at a discount rate of 3.65% of the face value of the purchased receivable plus 1/10% per day on any receivable outstanding after 35 days from the date of invoice purchase. Any amounts that remain unpaid 90 days after the initial invoice date, or any dispute raised by the customer will be repurchased by the Company or replaced by eligible receivables. As of September 30, 2015, invoices totaling, in the aggregate, $82,627 had been factored. The Company’s accounts receivable are purchased by the financing company on a recourse basis. Accordingly, the accounts receivable are retained on the Company’s balance sheet while advances from the financing company are recorded as accrued liabilities. Discounts provided and interest charged related to factoring of the accounts receivable have been expensed on the accompanying condensed consolidated statements of operations as interest expense. |
Stock-Based Compensation [Policy Text Block] | Stock-Based Compensation Stock-based compensation expense for all stock-based payment awards is based on the estimated fair value of the award. For employees and directors, the award is measured on the grant date. For non-employees, the award is measured on the grant date and is then remeasured at each vesting date and financial reporting date. The Company generally issues new shares of the Company’s common stock, par value US$0.001 per share (the “common stock”) to satisfy option and warrant exercises. |
Preferred Stock [Policy Text Block] | Preferred Stock The Company applies the guidance enumerated in Accounting Standards Codification 480 “Distinguishing Liabilities from Equity” (“ASC 480”) when determining the classification and measurement of preferred stock. Preferred shares subject to mandatory redemption (if any) are classified as liability instruments and are measured at fair value. The Company classifies conditionally redeemable preferred shares, which includes preferred shares that feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control, as temporary equity. At all other times, the Company classifies its preferred shares in stockholders’ equity. As of September 30, 2015 and December 31, 2014, in accordance with ASC 480-10-S99, since certain of the Company’s preferred shares contain redemption rights which are not solely within the Company’s control, these issuances of preferred stock have been presented as temporary equity. |
Common Stock Warrants and Other Derivative Financial Instruments [Policy Text Block] | Common Stock Warrants and Other Derivative Financial Instruments The Company classifies as equity any contracts that (i) require physical settlement or net-share settlement or (ii) provide the Company with a choice of net-cash settlement or settlement in its own shares (physical settlement or net-share settlement) providing that such contracts are indexed to the Company’s own stock. The Company classifies as assets or liabilities any contracts that (i) require net-cash settlement (including a requirement to net cash settle the contract if an event occurs and if that event is outside the Company’s control) or (ii) gives the counterparty a choice of net-cash settlement or settlement in shares (physical settlement or net-share settlement). The Company assesses classification of its common stock warrants and other free standing derivatives at each reporting date to determine whether a change in classification between assets, liabilities and equity is required. The Company evaluated its free standing warrants to purchase common stock to assess their proper classification in the balance sheets as of September 30, 2015 and December 31, 2014 using the applicable classification criteria enumerated under U.S. GAAP and determined that the common stock purchase warrants should be classified as a derivative liability, as these warrants were denominated in U.S. dollars, while the functional currency of the Company is Canadian dollars. Therefore, each period, these U.S. denominated warrants must be re-valued. |
Sequencing Policy [Policy Text Block] | Sequencing Policy Under ASC 815-40-35, the Company has adopted a sequencing policy that reclassifies contracts from equity to assets or liabilities for those with the earliest inception date first. Future issuances of securities will be evaluated as to reclassification as a liability under our sequencing policy of earliest inception date first until either all of the shares underlying the Company’s Series A Convertible Redeemable Preferred Stock, par value US$0.001 per share (the “Series A Shares”), are settled or expire. |
Reclassifications [Policy Text Block] | Reclassifications Certain accounts in the prior period condensed consolidated financial statements have been reclassified for comparison purposes to conform to the presentation of the current period condensed consolidated financial statements. These reclassifications had no effect on the previously reported net loss. |
Recent Accounting Pronouncements [Policy Text Block] | Recent Accounting Pronouncements In July 2015, the Financing Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2015-11, Simplifying the Measurement of Inventory (“ASU 2015-11”). Under ASU 2015-11 entities should measure inventory that is not measured using last-in, first-out (LIFO) or the retail inventory method, including inventory that is measured using first-in, first-out (FIFO) or average cost, at the lower of cost or 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. ASU 2015-11 is effective for reporting periods beginning after December 15, 2016 and is to be applied prospectively. The Company is currently evaluating the impact the adoption of ASU 2015-11 will have on its condensed consolidated financial position, results of operations and cash flows. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers. This ASU supersedes the revenue recognition requirements in Accounting Standards Codification 605 - Revenue Recognition and most industry-specific guidance throughout the Codification. The standard requires that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. This ASU is effective on January 1, 2017 and should be applied retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of initially applying the ASU recognized at the date of initial application. The Company has not yet determined the effect of the adoption of this standard and its impact on the Company's condensed consolidated financial position and results of operations. There are other various updates recently issued, most of which represented technical corrections to the accounting literature or application to specific industries and are not expected to a have a material impact on the Company's condensed consolidated financial position, results of operations or cash flows. |
Concentrations [Policy Text Block] | Concentrations During the three months ended September 30, 2015, one customer comprised approximately $121,000 or 10% of the Company's sales. During the nine months ended September 30, 2015, another customer comprised approximately $726,000 or 16% of the Company's sales. We had no such concentrations during the three and nine months ended September 30, 2014. As of September 30, 2015, there were no accounts receivable due from these customers. |
Inventory (Tables)
Inventory (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Schedule of Inventory, Current [Table Text Block] | September 30, December 31, 2015 2014 Raw materials $ 651,348 $ 606,547 Work in process 73,720 25,683 Finished goods 152,887 218,434 Sub total 877,955 850,664 Reserve for obsolescence and shrinkage (317,447 ) (317,447 ) Total $ 560,508 $ 533,217 |
Fair Value of Financial Instr24
Fair Value of Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Balance, December 31, 2014 $ 2,858,618 Fair value change of derivative liabilities (2,808,281 ) Fair value of embedded conversion options issued 373,184 Fair value of embedded conversion options in preferred shares issued as dividends 82,414 Transfers out due to extinguishment of financial instruments (77,936 ) Balance, September 30, 2015 $ 427,999 |
Schedule of Stockholders' Equity Note, Warrants or Rights, Valuation Assumptions [Table Text Block] | September 30, 2015 2014 Volatility 94.9% - 117% 92% - 176% Risk-free interest rate 0.33% - 1.37% 0.44% - 1.73% Contractual term 0.33 - 5.00 yrs 1.84 - 5.00 yrs |
Capital Stock (Tables)
Capital Stock (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Weighted Weighted Average Aggregate Number of Average Remaining Life Intrinsic Options Exercise Price In Years Value Outstanding at January 1, 2015 12,022,075 US$0.09 Employee Options Granted 400,000 US$0.06 Forfeited (330,000 ) US$0.09 Expired (20,000 ) US$0.10 Outstanding at September 30, 2015 12,072,075 US$0.09 3.42 $ - Exercisable at September 30, 2015 11,822,075 US$0.09 3.22 $ - |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | For the Nine months Ended For the Three months Ended For the Nine months Ended September 30, 2015 September 30, 2014 September 30, 2014 Risk free interest rate 0.28% - 0.98% 0.97% 0.97% - 1.55% Expected term 3 years 3 years 3 - 5 years Expected volatility 80% - 140% 140% 113% - 140% Expected dividends 0% 0% 0% |
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | Exercisable Options Outstanding Exercisable Remaining Number of Number of Contractual Life Aggregate Exercise Price Options Options in years Intrinsic Value US$ $0.02 150,000 150,000 9.6 $ - US$ $0.04 304,375 54,375 0.2 - US$ $0.08 1,500,000 1,500,000 0.7 - US$ $0.09 10,016,450 10,016,450 3.6 - US$ $0.10 45,000 45,000 1.8 - US$ $0.15 56,250 56,250 0.2 - 12,072,075 11,822,075 3.2 $ - |
Schedule of Stockholders' Equity Note, Warrants or Rights, Activity [Table Text Block] | [1] Weighted Weighted Average Aggregate Number of Average Remaining Life Intrinsic Warrants Exercise Price In Years Value Outstanding at January 1, 2015 80,890,801 CAD$0.12 Iss ued in private placement transactions 1,462,500 CAD$0.16 Issued as compensation warrants 348,827 CAD$0.14 Outstanding at September 30, 2015 82,702,128 CAD$0.13 1.55 $ - Exercisable at September 30, 2015 82,702,128 CAD$0.13 1.55 $ - |
Schedule of Share-based Payment Award, Stock Warrants, Valuation Assumptions [Table Text Block] | For the Nine Months Ended September 30, 2015 Risk free interest rate 1.37% - 1.50% Expected term 5.00 Expected volatility 104% - 107% Expected dividends 0.00% |
Disclosure of Share-based Compensation Arrangements By Share-based Payment Award And Warrants Or Rights [Table Text Block] | Weighted Average Remaining Weighted Average Contractual Life Exercise Price Warrants in years CAD$ 0.065 2,500,000 0.73 CAD$ 0.080 19,100,001 0.24 CAD$ 0.090 975,000 3.82 CAD$ 0.160 1,481,327 4.26 US$ 0.050 17,272,014 1.79 US$ 0.080 9,849,999 0.36 US$ 0.090 4,937,650 1.80 US$ 0.095 500,000 3.99 US$ 0.100 7,690,000 2.63 US$ 0.180 3,749,996 0.63 US$ 0.200 14,646,141 3.13 CAD$ 0.130 82,702,128 1.55 |
Segment Information (Tables)
Segment Information (Tables) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | As of and for the three months ended September 30, 2015 Manufacturing Servicing Total Sales to external customers $ 912,135 $ 265,076 $ 1,177,211 Depreciation and amortization $ 11,887 $ - $ 11,887 Segment operating (loss) income $ (623,647 ) $ 200,892 $ (422,755 ) Total assets $ 1,885,828 $ - $ 1,885,828 | As of and for the three months ended September 30, 2014 (revised - see Note 9) Manufacturing Servicing Total Sales to external customers $ 1,044,226 $ 374,978 $ 1,419,204 Depreciation and amortization $ 15,913 $ 5,223 $ 21,136 Segment operating (loss) income $ (808,355 ) $ 80,248 $ (728,107 ) Total assets $ 2,138,807 $ 10,447 $ 2,149,254 | As of and for the nine months ended September 30, 2015 Manufacturing Servicing Total Sales to external customers $ 3,800,541 $ 781,476 $ 4,582,017 Depreciation and amortization $ 35,527 $ 5,223 $ 40,750 Segment operating (loss) income $ (1,030,523 ) $ 445,128 $ (585,395 ) Total assets $ 1,885,828 $ - $ 1,885,828 | As of and for the nine months ended September 30, 2014 Manufacturing Servicing Total Sales to external customers $ 2,842,222 $ 870,018 $ 3,712,240 Depreciation and amortization $ 20,668 $ 15,669 $ 36,337 Segment operating loss $ (3,278,132 ) $ (210,160 ) $ (3,488,292 ) Total assets $ 2,138,807 $ 10,447 $ 2,149,254 |
Net (Loss) Income per Share o27
Net (Loss) Income per Share of Common Stock (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Numerator: Net (loss) income $ (387,264 ) $ 779,069 $ 2,050,566 $ (2,281,287 ) Preferred stock: Series A convertible - contractual dividends (37,765 ) (82,414 ) Series A convertible - deemed dividends (2,010,330 ) - (2,010,330 ) - Net (loss) income attributable to common stockholders $ (2,435,359 ) $ 779,069 $ (42,178 ) $ (2,281,287 ) Denominator: Weighted average number of common shares 126,047,236 126,009,581 126,040,891 117,236,991 Effect of dilutive securities : Dilutive securities realizable from the vesting of - - 4,500,000 - Convertible preferred stock, Series A - - 44,862,475 - Total dilutive shares - - 49,362,475 - Weighted average number of common shares 126,047,236 126,009,581 175,403,366 117,236,991 Earnings per share: Basic $ (0.02 ) $ 0.01 $ (0.00 ) $ (0.02 ) Diluted $ (0.02 ) $ 0.01 $ (0.00 ) $ (0.02 ) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | September 30, 2015 2014 Warrants 82,702,128 80,890,801 Options 12,072,075 11,752,075 Series A preferred stock - 4,260,435 Total potentially dilutive shares 94,774,203 96,903,311 |
Going Concern and Liquidity (Na
Going Concern and Liquidity (Narrative) (Details) | 9 Months Ended |
Sep. 30, 2015CAD | |
Going Concern And Liquidity 1 | CAD 10,610,970 |
Going Concern And Liquidity 2 | 422,755 |
Going Concern And Liquidity 3 | CAD 585,395 |
Significant Accounting Polici29
Significant Accounting Policies (Narrative) (Details) | 9 Months Ended |
Sep. 30, 2015CADdCAD / shares | |
Significant Accounting Policies 1 | CAD 114,923 |
Significant Accounting Policies 2 | 181,529 |
Significant Accounting Policies 3 | CAD 1,000,000 |
Significant Accounting Policies 4 | 3.65% |
Significant Accounting Policies 5 | 1.00% |
Significant Accounting Policies 6 | d | 35 |
Significant Accounting Policies 7 | d | 90 |
Significant Accounting Policies 8 | CAD 82,627 |
Significant Accounting Policies 9 | CAD / shares | CAD 0.001 |
Significant Accounting Policies 10 | 480 |
Significant Accounting Policies 11 | CAD / shares | CAD 0.001 |
Significant Accounting Policies 12 | CAD 121,000 |
Significant Accounting Policies 13 | 10.00% |
Significant Accounting Policies 14 | CAD 726,000 |
Significant Accounting Policies 15 | 16.00% |
Due to Related Parties (Narrati
Due to Related Parties (Narrative) (Details) | 9 Months Ended |
Sep. 30, 2015CAD | |
Due To Related Parties 1 | CAD 12,613 |
Due To Related Parties 2 | CAD 5,003 |
Repayment of Convertible Debt (
Repayment of Convertible Debt (Narrative) (Details) | 9 Months Ended |
Sep. 30, 2015CADd | |
Repayment Of Convertible Debt 1 | 8.00% |
Repayment Of Convertible Debt 2 | CAD 154,000 |
Repayment Of Convertible Debt 3 | 192,500 |
Repayment Of Convertible Debt 4 | 4,000 |
Repayment Of Convertible Debt 5 | 5,000 |
Repayment Of Convertible Debt 6 | 169,000 |
Repayment Of Convertible Debt 7 | CAD 211,250 |
Repayment Of Convertible Debt 8 | d | 180 |
Repayment Of Convertible Debt 9 | 35.00% |
Repayment Of Convertible Debt 10 | CAD 15,000 |
Repayment Of Convertible Debt 11 | 18,750 |
Repayment Of Convertible Debt 12 | 150,800 |
Repayment Of Convertible Debt 13 | 188,349 |
Repayment Of Convertible Debt 14 | 110,411 |
Repayment Of Convertible Debt 15 | 37,699 |
Repayment Of Convertible Debt 16 | CAD 47,087 |
Repayment Of Convertible Debt 17 | 20.00% |
Repayment Of Convertible Debt 18 | CAD 206,133 |
Repayment Of Convertible Debt 19 | 248,384 |
Repayment Of Convertible Debt 20 | 53,101 |
Repayment Of Convertible Debt 21 | CAD 66,324 |
Series A Shares (Narrative) (De
Series A Shares (Narrative) (Details) | 9 Months Ended |
Sep. 30, 2015CADdCAD / sharesshares | |
Series A Shares 1 | shares | 2,925,000 |
Series A Shares 2 | 200 |
Series A Shares 3 | CAD 200,000 |
Series A Shares 4 | CAD 234,000 |
Series A Shares 5 | CAD / shares | CAD 0.07 |
Series A Shares 6 | 85.00% |
Series A Shares 7 | 85.00% |
Series A Shares 8 | 8.00% |
Series A Shares 9 | 4.99% |
Series A Shares 10 | 9.99% |
Series A Shares 11 | d | 61 |
Series A Shares 12 | 4.99% |
Series A Shares 13 | 125.00% |
Series A Shares 14 | 150.00% |
Series A Shares 15 | CAD 184,835 |
Series A Shares 16 | shares | 1,462,500 |
Series A Shares 17 | CAD / shares | CAD 0.16 |
Series A Shares 18 | CAD 32,472 |
Series A Shares 19 | 79 |
Series A Shares 20 | CAD 82,414 |
Series A Shares 21 | 10 |
Series A Shares 22 | 150.00% |
Series A Shares 23 | 10.00% |
Series A Shares 24 | 150.00% |
Series A Shares 25 | 14.00% |
Series A Shares 26 | 21.00% |
Series A Shares 27 | 5.00% |
Series A Shares 28 | d | 30 |
Series A Shares 29 | 8.00% |
Series A Shares 30 | d | 30 |
Series A Shares 31 | CAD 2,010,330 |
Series A Shares 32 | 150.00% |
Fair Value of Financial Instr33
Fair Value of Financial Instruments (Narrative) (Details) | 9 Months Ended |
Sep. 30, 2015CAD | |
Fair Value Of Financial Instruments 1 | CAD 273,299 |
Fair Value Of Financial Instruments 2 | CAD 154,700 |
Capital Stock (Narrative) (Deta
Capital Stock (Narrative) (Details) | 9 Months Ended |
Sep. 30, 2015CADmoCAD / sharesshares | |
Capital Stock 1 | shares | 4,500,000 |
Capital Stock 2 | CAD 168,615 |
Capital Stock 3 | 29,502 |
Capital Stock 4 | 61,826 |
Capital Stock 5 | CAD 106,789 |
Capital Stock 6 | mo | 7.6 |
Capital Stock 7 | shares | 4,500,000 |
Capital Stock 8 | shares | 150,000 |
Capital Stock 9 | CAD 0.02 |
Capital Stock 10 | shares | 250,000 |
Capital Stock 11 | CAD 0.04 |
Capital Stock 12 | 8,000 |
Capital Stock 13 | CAD 0 |
Capital Stock 14 | CAD / shares | CAD 0.02 |
Capital Stock 15 | CAD 0.07 |
Capital Stock 16 | CAD / shares | CAD 0.09 |
Capital Stock 17 | CAD 6,750 |
Capital Stock 18 | 6,750 |
Capital Stock 19 | 11,684 |
Capital Stock 20 | 919,632 |
Capital Stock 21 | CAD 1,250 |
Capital Stock 22 | mo | 1.5 |
Capital Stock 23 | shares | 18,827 |
Capital Stock 24 | shares | 10,852 |
Capital Stock 25 | shares | 7,975 |
Capital Stock 26 | CAD / shares | CAD 0.16 |
Capital Stock 27 | CAD 909 |
Capital Stock 28 | shares | 330,000 |
Capital Stock 29 | CAD / shares | CAD 0.05 |
Capital Stock 30 | CAD 4,401 |
Capital Stock 31 | CAD / shares | CAD 0.05 |
Capital Stock 32 | CAD 0.08 |
Capital Stock 33 | CAD 0.08 |
Commitments and Contingencies (
Commitments and Contingencies (Narrative) (Details) | 9 Months Ended |
Sep. 30, 2015CADCAD / mo | |
Commitments And Contingencies 1 | CAD 108,167 |
Commitments And Contingencies 2 | 106,362 |
Commitments And Contingencies 3 | 36,389 |
Commitments And Contingencies 4 | 35,990 |
Commitments And Contingencies 5 | CAD 12,500 |
Commitments And Contingencies 6 | CAD / mo | 7,500 |
Commitments And Contingencies 7 | CAD / mo | 5,000 |
Segment Information (Narrative)
Segment Information (Narrative) (Details) | 9 Months Ended |
Sep. 30, 2015CAD | |
Segment Information 1 | CAD 2,125,467 |
Segment Information 2 | 947,821 |
Segment Information 3 | 2,456,550 |
Segment Information 4 | CAD 2,764,419 |
Segment Information 5 | 40.00% |
Segment Information 6 | 38.50% |
Segment Information 7 | 43.00% |
Segment Information 8 | 34.00% |
Schedule of Inventory, Current
Schedule of Inventory, Current (Details) | 9 Months Ended |
Sep. 30, 2015CAD | |
Inventory Schedule Of Inventory, Current 1 | CAD 651,348 |
Inventory Schedule Of Inventory, Current 2 | 606,547 |
Inventory Schedule Of Inventory, Current 3 | 73,720 |
Inventory Schedule Of Inventory, Current 4 | 25,683 |
Inventory Schedule Of Inventory, Current 5 | 152,887 |
Inventory Schedule Of Inventory, Current 6 | 218,434 |
Inventory Schedule Of Inventory, Current 7 | 877,955 |
Inventory Schedule Of Inventory, Current 8 | 850,664 |
Inventory Schedule Of Inventory, Current 9 | (317,447) |
Inventory Schedule Of Inventory, Current 10 | (317,447) |
Inventory Schedule Of Inventory, Current 11 | 560,508 |
Inventory Schedule Of Inventory, Current 12 | CAD 533,217 |
Fair Value, by Balance Sheet Gr
Fair Value, by Balance Sheet Grouping (Details) | 9 Months Ended |
Sep. 30, 2015CAD | |
Fair Value Of Financial Instruments Fair Value, By Balance Sheet Grouping 1 | CAD 2,858,618 |
Fair Value Of Financial Instruments Fair Value, By Balance Sheet Grouping 2 | (2,808,281) |
Fair Value Of Financial Instruments Fair Value, By Balance Sheet Grouping 3 | 373,184 |
Fair Value Of Financial Instruments Fair Value, By Balance Sheet Grouping 4 | 82,414 |
Fair Value Of Financial Instruments Fair Value, By Balance Sheet Grouping 5 | (77,936) |
Fair Value Of Financial Instruments Fair Value, By Balance Sheet Grouping 6 | CAD 427,999 |
Schedule of Stockholders' Equit
Schedule of Stockholders' Equity Note, Warrants or Rights, Valuation Assumptions (Details) | 9 Months Ended |
Sep. 30, 2015 | |
Fair Value Of Financial Instruments Schedule Of Stockholders' Equity Note, Warrants Or Rights, Valuation Assumptions 1 | 94.90% |
Fair Value Of Financial Instruments Schedule Of Stockholders' Equity Note, Warrants Or Rights, Valuation Assumptions 2 | 117.00% |
Fair Value Of Financial Instruments Schedule Of Stockholders' Equity Note, Warrants Or Rights, Valuation Assumptions 3 | 92.00% |
Fair Value Of Financial Instruments Schedule Of Stockholders' Equity Note, Warrants Or Rights, Valuation Assumptions 4 | 176.00% |
Fair Value Of Financial Instruments Schedule Of Stockholders' Equity Note, Warrants Or Rights, Valuation Assumptions 5 | 0.33% |
Fair Value Of Financial Instruments Schedule Of Stockholders' Equity Note, Warrants Or Rights, Valuation Assumptions 6 | 1.37% |
Fair Value Of Financial Instruments Schedule Of Stockholders' Equity Note, Warrants Or Rights, Valuation Assumptions 7 | 0.44% |
Fair Value Of Financial Instruments Schedule Of Stockholders' Equity Note, Warrants Or Rights, Valuation Assumptions 8 | 1.73% |
Fair Value Of Financial Instruments Schedule Of Stockholders' Equity Note, Warrants Or Rights, Valuation Assumptions 9 | 0.33 |
Fair Value Of Financial Instruments Schedule Of Stockholders' Equity Note, Warrants Or Rights, Valuation Assumptions 10 | 5 |
Fair Value Of Financial Instruments Schedule Of Stockholders' Equity Note, Warrants Or Rights, Valuation Assumptions 11 | 1.84 |
Fair Value Of Financial Instruments Schedule Of Stockholders' Equity Note, Warrants Or Rights, Valuation Assumptions 12 | 5 |
Schedule of Share-based Compens
Schedule of Share-based Compensation, Stock Options, Activity (Details) | 9 Months Ended |
Sep. 30, 2015CAD | |
Capital Stock Schedule Of Share-based Compensation, Stock Options, Activity 1 | CAD 12,022,075 |
Capital Stock Schedule Of Share-based Compensation, Stock Options, Activity 2 | 0.09 |
Capital Stock Schedule Of Share-based Compensation, Stock Options, Activity 3 | 400,000 |
Capital Stock Schedule Of Share-based Compensation, Stock Options, Activity 4 | 0.06 |
Capital Stock Schedule Of Share-based Compensation, Stock Options, Activity 5 | (330,000) |
Capital Stock Schedule Of Share-based Compensation, Stock Options, Activity 6 | 0.09 |
Capital Stock Schedule Of Share-based Compensation, Stock Options, Activity 7 | (20,000) |
Capital Stock Schedule Of Share-based Compensation, Stock Options, Activity 8 | 0.10 |
Capital Stock Schedule Of Share-based Compensation, Stock Options, Activity 9 | 12,072,075 |
Capital Stock Schedule Of Share-based Compensation, Stock Options, Activity 10 | CAD 0.09 |
Capital Stock Schedule Of Share-based Compensation, Stock Options, Activity 11 | 3.42 |
Capital Stock Schedule Of Share-based Compensation, Stock Options, Activity 12 | CAD 0 |
Capital Stock Schedule Of Share-based Compensation, Stock Options, Activity 13 | 11,822,075 |
Capital Stock Schedule Of Share-based Compensation, Stock Options, Activity 14 | CAD 0.09 |
Capital Stock Schedule Of Share-based Compensation, Stock Options, Activity 15 | 3.22 |
Capital Stock Schedule Of Share-based Compensation, Stock Options, Activity 16 | CAD 0 |
Schedule of Share-based Payment
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details) | 9 Months Ended |
Sep. 30, 2015CADyr | |
Capital Stock Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 1 | 0.28% |
Capital Stock Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 2 | 0.98% |
Capital Stock Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 3 | 0.97% |
Capital Stock Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 4 | 0.97% |
Capital Stock Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 5 | 1.55% |
Capital Stock Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 6 | 3 |
Capital Stock Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 7 | 3 |
Capital Stock Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 8 | CAD | CAD 3 |
Capital Stock Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 9 | 5 |
Capital Stock Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 10 | 80.00% |
Capital Stock Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 11 | 140.00% |
Capital Stock Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 12 | 140.00% |
Capital Stock Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 13 | 113.00% |
Capital Stock Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 14 | 140.00% |
Capital Stock Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 15 | 0.00% |
Capital Stock Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 16 | 0.00% |
Capital Stock Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 17 | 0.00% |
Disclosure of Share-based Compe
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award (Details) | 9 Months Ended |
Sep. 30, 2015CAD | |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 1 | CAD 0.02 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 2 | 150,000 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 3 | CAD 150,000 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 4 | 9.6 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 5 | CAD 0 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 6 | 0.04 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 7 | 304,375 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 8 | CAD 54,375 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 9 | 0.2 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 10 | CAD 0 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 11 | 0.08 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 12 | 1,500,000 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 13 | CAD 1,500,000 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 14 | 0.7 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 15 | CAD 0 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 16 | 0.09 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 17 | 10,016,450 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 18 | CAD 10,016,450 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 19 | 3.6 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 20 | CAD 0 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 21 | 0.10 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 22 | 45,000 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 23 | CAD 45,000 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 24 | 1.8 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 25 | CAD 0 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 26 | 0.15 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 27 | 56,250 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 28 | CAD 56,250 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 29 | 0.2 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 30 | CAD 0 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 31 | 12,072,075 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 32 | CAD 11,822,075 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 33 | 3.2 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 34 | CAD 0 |
Schedule of Stockholders' Equ43
Schedule of Stockholders' Equity Note, Warrants or Rights, Activity (Details) | 9 Months Ended |
Sep. 30, 2015CAD | |
Capital Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 1 | CAD 80,890,801 |
Capital Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 2 | 0.12 |
Capital Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 3 | 1,462,500 |
Capital Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 4 | 0.16 |
Capital Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 5 | 348,827 |
Capital Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 6 | 0.14 |
Capital Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 7 | 82,702,128 |
Capital Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 8 | CAD 0.13 |
Capital Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 9 | 1.55 |
Capital Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 10 | CAD 0 |
Capital Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 11 | 82,702,128 |
Capital Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 12 | CAD 0.13 |
Capital Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 13 | 1.55 |
Capital Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 14 | CAD 0 |
Schedule of Share-based Payme44
Schedule of Share-based Payment Award, Stock Warrants, Valuation Assumptions (Details) | 9 Months Ended |
Sep. 30, 2015 | |
Capital Stock Schedule Of Share-based Payment Award, Stock Warrants, Valuation Assumptions 1 | 1.37% |
Capital Stock Schedule Of Share-based Payment Award, Stock Warrants, Valuation Assumptions 2 | 1.50% |
Capital Stock Schedule Of Share-based Payment Award, Stock Warrants, Valuation Assumptions 3 | 5 |
Capital Stock Schedule Of Share-based Payment Award, Stock Warrants, Valuation Assumptions 4 | 104.00% |
Capital Stock Schedule Of Share-based Payment Award, Stock Warrants, Valuation Assumptions 5 | 107.00% |
Capital Stock Schedule Of Share-based Payment Award, Stock Warrants, Valuation Assumptions 6 | 0.00% |
Disclosure of Share-based Com45
Disclosure of Share-based Compensation Arrangements By Share-based Payment Award And Warrants Or Rights (Details) | 9 Months Ended |
Sep. 30, 2015CAD | |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award And Warrants Or Rights 1 | 0.065 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award And Warrants Or Rights 2 | CAD 2,500,000 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award And Warrants Or Rights 3 | 0.73 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award And Warrants Or Rights 4 | 0.080 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award And Warrants Or Rights 5 | CAD 19,100,001 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award And Warrants Or Rights 6 | 0.24 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award And Warrants Or Rights 7 | 0.090 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award And Warrants Or Rights 8 | CAD 975,000 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award And Warrants Or Rights 9 | 3.82 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award And Warrants Or Rights 10 | 0.160 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award And Warrants Or Rights 11 | CAD 1,481,327 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award And Warrants Or Rights 12 | 4.26 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award And Warrants Or Rights 13 | 0.050 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award And Warrants Or Rights 14 | CAD 17,272,014 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award And Warrants Or Rights 15 | 1.79 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award And Warrants Or Rights 16 | 0.080 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award And Warrants Or Rights 17 | CAD 9,849,999 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award And Warrants Or Rights 18 | 0.36 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award And Warrants Or Rights 19 | 0.090 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award And Warrants Or Rights 20 | CAD 4,937,650 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award And Warrants Or Rights 21 | 1.80 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award And Warrants Or Rights 22 | 0.095 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award And Warrants Or Rights 23 | CAD 500,000 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award And Warrants Or Rights 24 | 3.99 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award And Warrants Or Rights 25 | 0.100 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award And Warrants Or Rights 26 | CAD 7,690,000 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award And Warrants Or Rights 27 | 2.63 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award And Warrants Or Rights 28 | 0.180 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award And Warrants Or Rights 29 | CAD 3,749,996 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award And Warrants Or Rights 30 | 0.63 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award And Warrants Or Rights 31 | 0.200 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award And Warrants Or Rights 32 | CAD 14,646,141 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award And Warrants Or Rights 33 | 3.13 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award And Warrants Or Rights 34 | 0.130 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award And Warrants Or Rights 35 | CAD 82,702,128 |
Capital Stock Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award And Warrants Or Rights 36 | 1.55 |
Schedule of Segment Reporting I
Schedule of Segment Reporting Information, by Segment (Details) - CAD | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Segment Information Schedule Of Segment Reporting Information, By Segment 1 | CAD 912,135 | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 2 | 265,076 | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 3 | 1,177,211 | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 4 | 11,887 | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 5 | 0 | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 6 | 11,887 | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 7 | (623,647) | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 8 | 200,892 | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 9 | (422,755) | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 10 | 1,885,828 | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 11 | 0 | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 12 | CAD 1,885,828 | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 1 | CAD 1,044,226 | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 2 | 374,978 | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 3 | 1,419,204 | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 4 | 15,913 | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 5 | 5,223 | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 6 | 21,136 | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 7 | (808,355) | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 8 | 80,248 | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 9 | (728,107) | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 10 | 2,138,807 | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 11 | 10,447 | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 12 | CAD 2,149,254 | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 1 | CAD 3,800,541 | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 2 | 781,476 | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 3 | 4,582,017 | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 4 | 35,527 | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 5 | 5,223 | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 6 | 40,750 | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 7 | (1,030,523) | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 8 | 445,128 | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 9 | (585,395) | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 10 | 1,885,828 | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 11 | 0 | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 12 | CAD 1,885,828 | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 1 | CAD 2,842,222 | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 2 | 870,018 | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 3 | 3,712,240 | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 4 | 20,668 | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 5 | 15,669 | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 6 | 36,337 | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 7 | (3,278,132) | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 8 | (210,160) | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 9 | (3,488,292) | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 10 | 2,138,807 | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 11 | 10,447 | |||
Segment Information Schedule Of Segment Reporting Information, By Segment 12 | CAD 2,149,254 |
Schedule of Earnings Per Share,
Schedule of Earnings Per Share, Basic and Diluted (Details) | 9 Months Ended |
Sep. 30, 2015CAD | |
Net (loss) Income Per Share Of Common Stock Schedule Of Earnings Per Share, Basic And Diluted 1 | CAD (387,264) |
Net (loss) Income Per Share Of Common Stock Schedule Of Earnings Per Share, Basic And Diluted 2 | 779,069 |
Net (loss) Income Per Share Of Common Stock Schedule Of Earnings Per Share, Basic And Diluted 3 | 2,050,566 |
Net (loss) Income Per Share Of Common Stock Schedule Of Earnings Per Share, Basic And Diluted 4 | (2,281,287) |
Net (loss) Income Per Share Of Common Stock Schedule Of Earnings Per Share, Basic And Diluted 5 | (37,765) |
Net (loss) Income Per Share Of Common Stock Schedule Of Earnings Per Share, Basic And Diluted 6 | (82,414) |
Net (loss) Income Per Share Of Common Stock Schedule Of Earnings Per Share, Basic And Diluted 7 | (2,010,330) |
Net (loss) Income Per Share Of Common Stock Schedule Of Earnings Per Share, Basic And Diluted 8 | 0 |
Net (loss) Income Per Share Of Common Stock Schedule Of Earnings Per Share, Basic And Diluted 9 | (2,010,330) |
Net (loss) Income Per Share Of Common Stock Schedule Of Earnings Per Share, Basic And Diluted 10 | 0 |
Net (loss) Income Per Share Of Common Stock Schedule Of Earnings Per Share, Basic And Diluted 11 | (2,435,359) |
Net (loss) Income Per Share Of Common Stock Schedule Of Earnings Per Share, Basic And Diluted 12 | 779,069 |
Net (loss) Income Per Share Of Common Stock Schedule Of Earnings Per Share, Basic And Diluted 13 | (42,178) |
Net (loss) Income Per Share Of Common Stock Schedule Of Earnings Per Share, Basic And Diluted 14 | (2,281,287) |
Net (loss) Income Per Share Of Common Stock Schedule Of Earnings Per Share, Basic And Diluted 15 | 126,047,236 |
Net (loss) Income Per Share Of Common Stock Schedule Of Earnings Per Share, Basic And Diluted 16 | 126,009,581 |
Net (loss) Income Per Share Of Common Stock Schedule Of Earnings Per Share, Basic And Diluted 17 | 126,040,891 |
Net (loss) Income Per Share Of Common Stock Schedule Of Earnings Per Share, Basic And Diluted 18 | 117,236,991 |
Net (loss) Income Per Share Of Common Stock Schedule Of Earnings Per Share, Basic And Diluted 19 | 0 |
Net (loss) Income Per Share Of Common Stock Schedule Of Earnings Per Share, Basic And Diluted 20 | 0 |
Net (loss) Income Per Share Of Common Stock Schedule Of Earnings Per Share, Basic And Diluted 21 | 4,500,000 |
Net (loss) Income Per Share Of Common Stock Schedule Of Earnings Per Share, Basic And Diluted 22 | 0 |
Net (loss) Income Per Share Of Common Stock Schedule Of Earnings Per Share, Basic And Diluted 23 | 0 |
Net (loss) Income Per Share Of Common Stock Schedule Of Earnings Per Share, Basic And Diluted 24 | 0 |
Net (loss) Income Per Share Of Common Stock Schedule Of Earnings Per Share, Basic And Diluted 25 | 44,862,475 |
Net (loss) Income Per Share Of Common Stock Schedule Of Earnings Per Share, Basic And Diluted 26 | 0 |
Net (loss) Income Per Share Of Common Stock Schedule Of Earnings Per Share, Basic And Diluted 27 | 0 |
Net (loss) Income Per Share Of Common Stock Schedule Of Earnings Per Share, Basic And Diluted 28 | 0 |
Net (loss) Income Per Share Of Common Stock Schedule Of Earnings Per Share, Basic And Diluted 29 | 49,362,475 |
Net (loss) Income Per Share Of Common Stock Schedule Of Earnings Per Share, Basic And Diluted 30 | 0 |
Net (loss) Income Per Share Of Common Stock Schedule Of Earnings Per Share, Basic And Diluted 31 | 126,047,236 |
Net (loss) Income Per Share Of Common Stock Schedule Of Earnings Per Share, Basic And Diluted 32 | 126,009,581 |
Net (loss) Income Per Share Of Common Stock Schedule Of Earnings Per Share, Basic And Diluted 33 | 175,403,366 |
Net (loss) Income Per Share Of Common Stock Schedule Of Earnings Per Share, Basic And Diluted 34 | CAD 117,236,991 |
Net (loss) Income Per Share Of Common Stock Schedule Of Earnings Per Share, Basic And Diluted 35 | (0.02) |
Net (loss) Income Per Share Of Common Stock Schedule Of Earnings Per Share, Basic And Diluted 36 | 0.01 |
Net (loss) Income Per Share Of Common Stock Schedule Of Earnings Per Share, Basic And Diluted 37 | 0 |
Net (loss) Income Per Share Of Common Stock Schedule Of Earnings Per Share, Basic And Diluted 38 | (0.02) |
Net (loss) Income Per Share Of Common Stock Schedule Of Earnings Per Share, Basic And Diluted 39 | (0.02) |
Net (loss) Income Per Share Of Common Stock Schedule Of Earnings Per Share, Basic And Diluted 40 | 0.01 |
Net (loss) Income Per Share Of Common Stock Schedule Of Earnings Per Share, Basic And Diluted 41 | 0 |
Net (loss) Income Per Share Of Common Stock Schedule Of Earnings Per Share, Basic And Diluted 42 | (0.02) |
Schedule of Antidilutive Securi
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) | 9 Months Ended |
Sep. 30, 2015CAD | |
Net (loss) Income Per Share Of Common Stock Schedule Of Antidilutive Securities Excluded From Computation Of Earnings Per Share 1 | CAD 82,702,128 |
Net (loss) Income Per Share Of Common Stock Schedule Of Antidilutive Securities Excluded From Computation Of Earnings Per Share 2 | 80,890,801 |
Net (loss) Income Per Share Of Common Stock Schedule Of Antidilutive Securities Excluded From Computation Of Earnings Per Share 3 | 12,072,075 |
Net (loss) Income Per Share Of Common Stock Schedule Of Antidilutive Securities Excluded From Computation Of Earnings Per Share 4 | 11,752,075 |
Net (loss) Income Per Share Of Common Stock Schedule Of Antidilutive Securities Excluded From Computation Of Earnings Per Share 5 | 0 |
Net (loss) Income Per Share Of Common Stock Schedule Of Antidilutive Securities Excluded From Computation Of Earnings Per Share 6 | 4,260,435 |
Net (loss) Income Per Share Of Common Stock Schedule Of Antidilutive Securities Excluded From Computation Of Earnings Per Share 7 | 94,774,203 |
Net (loss) Income Per Share Of Common Stock Schedule Of Antidilutive Securities Excluded From Computation Of Earnings Per Share 8 | CAD 96,903,311 |