Tribute Pharmaceuticals Canada (SLRXF) 10-Q 14 Nov 13 2013 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2013
Document And Entity Information	'
Entity Registrant Name	'Tribute Pharmaceuticals Canada Inc.
Entity Central Index Key	'0001159019
Document Type	'10-Q
Document Period End Date	30-Sep-13
Amendment Flag	'false
Current Fiscal Year End Date	'--12-31
Is Entity a Well-known Seasoned Issuer?	'No
Is Entity a Voluntary Filer?	'No
Is Entity's Reporting Status Current?	'Yes
Entity Filer Category	'Smaller Reporting Company
Entity Common Stock, Shares Outstanding	51,081,238
Document Fiscal Period Focus	'Q3
Document Fiscal Year Focus	'2013

CONDENSED_INTERIM_CONSOLIDATED

CONDENSED INTERIM CONSOLIDATED BALANCE SHEETS (Unaudited) (CAD)	Sep. 30, 2013	Dec. 31, 2012
ASSETS	'	'
Cash and cash equivalents	2,749,234	2,283,868
Accounts receivable, net of allowance of $nil (December 31, 2012 - $nil)	1,308,868	1,205,087
Inventories (Note 2)	1,142,500	1,000,557
Taxes recoverable	545,326	261,400
Loan receivable	15,814	15,814
Prepaid expenses and other receivables (Note 3)	403,181	118,910
Current portion of debt issuance costs, net (Note 6)	82,908	185,403
Total current assets	6,247,831	5,071,039
Property, plant and equipment, net (Note 4)	1,112,236	1,159,375
Intangible assets, net (Note 5)	9,949,193	10,883,179
Goodwill	3,599,077	3,599,077
Debt issuance costs, net (Note 6)	266,566	115,862
Total assets	21,174,903	20,828,532
LIABILITIES	'	'
Accounts payable and accrued liabilities	3,242,485	5,455,664
Current portion of long term debt (Note 6)	'	1,305,840
Warrant liability (Note 7c)	4,078,296	202,213
Total current liabilities	7,320,781	6,963,717
Long term debt (Note 6)	5,617,124	1,815,791
Deferred tax liability (Note 13)	'	314,900
Total liabilities	12,937,905	9,094,408
SHAREHOLDERS EQUITY	'	'
AUTHORIZED Unlimited non-voting, convertible redeemable and retractable preferred shares with no par value Unlimited common shares with no par value ISSUED (Note 7a) Common shares 51,081,238 (December 31, 2012 - 39,610,042)	19,950,384	17,589,957
Additional paid-in capital options (Note 7b)	2,296,205	1,867,723
Deficit	-14,009,591	-7,723,556
Total shareholders equity	8,236,998	11,734,124
Total liabilities and shareholders equity	21,174,903	20,828,532

CONDENSED_INTERIM_CONSOLIDATED1

CONDENSED INTERIM CONSOLIDATED BALANCE SHEETS (Parenthetical)	Sep. 30, 2013	Jun. 30, 2013	Dec. 31, 2012
Shareholders Equity	'	'	'
Common Shares Authorized	51,081,238	50,972,542	39,610,042

CONDENSED_INTERIM_CONSOLIDATED2

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS COMPREHENSIVE (LOSS) INCOME AND DEFICIT (Unaudited) (CAD)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Revenues	'	'	'	'
Licensed domestic product net sales	2,242,333	2,267,509	6,378,621	6,104,160
Other domestic product sales	790,362	576,174	2,618,710	1,707,336
International product sales	347,551	369,816	1,037,103	1,193,219
Royalty and licensing revenues	99,884	'	197,924	'
Total revenues (Note 14)	3,480,130	3,213,499	10,232,358	9,004,715
Cost of Sales	'	'	'	'
Licensor sales and distribution fees	1,501,243	1,526,690	4,262,968	4,226,247
Cost of products sold	409,358	327,582	1,232,701	922,983
Total Cost of Sales	1,910,601	1,854,272	5,495,669	5,149,230
Gross profit	1,569,529	1,359,227	4,736,689	3,855,485
Expenses	'	'	'	'
Selling, general and administrative (Notes 12 and 15)	2,224,457	21,231,379	7,681,179	6,240,007
Amortization of assets (non-manufacturing property, plant and equipment)	313,635	155,807	977,693	380,270
Total operating expenses	2,538,092	2,287,186	8,658,872	6,620,277
(Loss) from operations	-968,563	-927,959	-3,922,183	-2,764,792
Non-operating income (expenses)	'	'	'	'
Change in warrant liability (Note 7c)	-660,325	66,183	-1,510,800	203,396
Cost of extending the warrant expiration	'	'	'	135,157
Change in fair value of contingent consideration	'	'	'	79,724
Research and development	'	-6,590	'	-14,916
Accretion expense	-20,895	-45,826	-68,123	-100,193
Loss on disposal of intangible asset (Note 5)	-161,200	'	-1,261,200	'
Loss on extinguishment of loan (Note 6)	-620,835	'	-620,835	'
Interest income	268	12,150	2,235	12,150
Interest expense	-152,026	-103,551	-320,029	-158,175
Loss and comprehensive loss before tax	-2,583,576	-1,005,593	-6,600,935	-2,877,963
Current income tax recovery	'	71,153	'	71,153
Deferred income tax recovery (Note 13)	'	215,800	314,900	730,440
Net loss and comprehensive loss for the period	-2,583,576	-718,640	-6,286,035	-2,076,410
Deficit, beginning of period	-11,426,015	-5,732,360	-7,723,556	-4,374,590
Deficit, end of period	-14,009,591	-6,451,000	-14,009,591	-6,451,000
Loss per share (Note 8) - Basic and diluted	-0.05	-0.02	-0.13	-0.05

CONDENSED_INTERIM_CONSOLIDATED3

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (CAD)	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Cash flows from (used in) operating activities	'	'
Net (loss)	-6,286,035	-2,076,410
Items not affecting cash:	'	'
Deferred income tax recovery	-314,900	-730,440
Amortization	995,758	412,490
Change in warrant liability (Note 7c)	1,510,800	-203,396
Cost of extending the warrant expiration	'	135,157
Change in fair value of contingent consideration	'	-79,724
Loss on extinguishment of loan	620,835	'
Loss on disposal of intangible asset	161,200	'
Stock-based compensation (Note 7b)	428,482	460,332
Accretion expense	68,123	100,193
Change in non-cash operating assets and liabilities (Note 9)	-2,629,186	-249,493
Cash flows (used in) operating activities	-5,444,922	-2,231,251
Cash flows from (used in) investing activities	'	'
Additions to property, plant and equipment	-25,562	-32,489
Payment of contingent liabilities	-460,000	'
Increase in intangible assets	'	-32,270
Increase in patents and licensing agreements	-13,180	-425,000
Cash flows from (used in) investing activities	-498,742	-489,759
Cash flows from (used in) financing activities	'	'
Financing costs deferred	-305,227	-343,934
Long term debt issued	6,084,437	3,500,000
Units issued (Note 7a)	4,713,787	'
Long term debt repayment	-3,386,630	'
Debt extinguishment costs	-348,420	'
Share issuance costs	-433,871	'
Cash flows from (used in) financing activities	6,324,076	3,156,066
Changes in cash and cash equivalents	380,412	435,056
Change in cash due to changes in foreign exchanges	84,954	-54,378
Cash and cash equivalents, beginning of period	2,283,868	2,227,973
Cash and cash equivalents, end of period	2,749,234	2,608,651

1_Basis_of_Presentation

1. Basis of Presentation	9 Months Ended
	Sep. 30, 2013
Accounting Policies [Abstract]	'
1. Basis of Presentation	'
	These unaudited condensed interim financial statements should be read in conjunction with the financial statements for Tribute Pharmaceuticals Canada Inc.’s (formerly Stellar Pharmaceuticals Inc.) ("Tribute" or the "Company") most recently completed fiscal year ended December 31, 2012.  These condensed interim financial statements do not include all disclosures required in annual financial statements, but rather are prepared in accordance with recommendations for interim financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”).  These unaudited condensed interim financial statements have been prepared using the same accounting policies, and methods as those used by the Company in the annual audited financial statements for the year ended December 31, 2012, except when disclosed below.
	The unaudited condensed interim financial statements contain all adjustments (consisting of only normal recurring adjustments) which are necessary to present fairly the financial position of the Company as at September 30, 2013, and the results of its operations for the three and nine month periods ended September 30, 2013 and 2012 and its cash flows for the nine month periods ended September 30, 2013 and 2012.  Note disclosures have been presented for material updates to the information previously reported in the annual audited financial statements.
		a)	Estimates
	The preparation of these financial statements has required 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 financial statements and the reported amounts of the revenues and expenses during the reporting period.  On an ongoing basis, the Company evaluates its estimates, including those related to provision for doubtful accounts, accrued liabilities, income taxes, stock based compensation, revenue recognition and intangible assets.  The Company bases its estimates on historical experiences and on various other assumptions believed to be reasonable under the circumstances.  Actual results could differ from those estimates. As adjustments become necessary, they are reported in earnings in the period in which they become known.
		b)	Recently Adopted Accounting Standards
	On January 1, 2013, the Company adopted the accounting standard set out below.
	In July 2012, the FASB issued an accounting standards update that gives an entity the option to first assess qualitative factors to determine whether it is more likely than not that an indefinite-lived intangible asset is impaired.  If, after assessing the totality of events and circumstances, an entity concludes that it is not more likely than not that the indefinite-lived intangible asset is impaired, then the entity is not required to take further action.  This guidance will be effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012, which will be the Company's 2013 fiscal year.  The adoption of this guidance did not have a material impact on the Company’s financial statements.

2_Inventories

2. Inventories	9 Months Ended
	Sep. 30, 2013
Inventory Disclosure [Abstract]	'
2. Inventories	'
		September 30,		December 31,
		2013		2012
	Raw materials	$	306,428	$	215,332
	Finished goods		353,695		284,147
	Packaging materials		61,099		91,476
	Work in process		421,278		409,602
		$	1,142,500	$	1,000,557

3_Prepaid_Expenses_and_Other_R

3. Prepaid Expenses and Other Receivables	9 Months Ended
	Sep. 30, 2013
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]	'
3. Prepaid Expenses and Other Receivables	'
		September 30,		December 31,
		2013		2012
	Prepaid operating expenses	$	219,143	$	113,735
	Deposits		178,188		-
	Interest receivable on loan receivables		5,850		5,175
		$	403,181	$	118,910

4_Property_Plant_and_Equipment

4. Property, Plant and Equipment	9 Months Ended
	Sep. 30, 2013
Property, Plant and Equipment [Abstract]	'
4. Property, Plant and Equipment	'
		30-Sep-13
		Cost		Accumulated		Net Carrying
				Amortization		Amount
	Land	$	90,000	$	-	$	90,000
	Building		618,254		262,158		356,096
	Leasehold improvements		10,359		2,072		8,287
	Office equipment		61,308		47,259		14,049
	Manufacturing equipment		1,103,525		568,217		535,308
	Warehouse equipment		17,085		16,571		514
	Packaging equipment		111,270		50,175		61,095
	Computer equipment		128,880		81,993		46,887
		$	2,140,681	$	1,028,445	$	1,112,236
		31-Dec-12
		Cost		Accumulated		Net Carrying
				Amortization		Amount
	Land	$	90,000	$	-	$	90,000
	Building		618,254		238,973		379,281
	Leasehold improvements		10,359		518		9,841
	Office equipment		61,315		44,137		17,178
	Manufacturing equipment		1,103,523		541,880		561,643
	Warehouse equipment		17,085		15,989		1,096
	Packaging equipment		111,270		42,302		68,968
	Computer equipment		103,313		71,945		31,368
		$	2,115,119	$	955,744	$	1,159,375

5_Intangible_Assets

5. Intangible Assets	9 Months Ended
	Sep. 30, 2013
Goodwill and Intangible Assets Disclosure [Abstract]	'
5. Intangible Assets	'
		30-Sep-13
		Cost		Accumulated		Net Carrying
				Amortization		Amount
	Patents	$	248,621	$	36,692	$	211,929
	Licensing asset		1,005,820		77,371		928,449
	Licensing agreements		10,004,000		1,195,185		8,808,815
		$	11,258,441	$	1,309,248	$	9,949,193
		31-Dec-12
		Cost		Accumulated		Net Carrying
				Amortization		Amount
	Patents	$	235,441	$	28,139	$	207,302
	Licensing asset		1,005,820		19,343		986,477
	Licensing agreements		10,212,000		522,600		9,689,400
		$	11,453,261	$	570,082	$	10,883,179
	The Company recorded a loss of $161,200 on intangible assets during the nine month period ended September 30, 2013, due to the termination of the Gelfoam promotion and marketing agreement.
	Amortization expense of intangible assets for the three and nine month periods ended September 30, 2013 were $260,852 and $785,966 (2012 - $85,202 and $258,005).
	The Company has patents pending of $95,034 at September 30, 2013 (December 31, 2012 - $81,854).

6_Long_Term_Debt_and_Debt_Issu

6. Long Term Debt and Debt Issuance Costs	9 Months Ended
	Sep. 30, 2013
Debt Disclosure [Abstract]	'
6. Long Term Debt and Debt Issuance Costs	'
	On May 11, 2012, the Company entered into a loan and security agreement (the "MidCap Loan Agreement") with MidCap Funding III, LLC (the "Lender" or "MidCap") for a 36 month term loan that is due May 11, 2015.  The term loan allowed for a total advancement of US$6,000,000 ($6,170,935).  An amount of US$3,500,000 ($3,554,743) was drawn on execution of the MidCap Loan Agreement and the remainder was available to be advanced if the Company raised an amount of not less than US$6,000,000 ($6,170,935) from any combination of: an equity issuance; upfront payments associated with a pharmaceutical partnership; or upfront payments in conjunction with the acquisition or in-licensing of pharmaceutical products.  The availability of advancements of the remainder of the loan expired on March 31, 2013.  The MidCap Loan Agreement was secured by all assets of the Company and contained customary covenants that, among other things, generally restricted the Company’s ability to incur additional indebtedness.  The Loan Agreement included a financial covenant to raise not less than US$3,000,000 ($3,046,923) by March 31, 2013 in the form of an equity raise or cash from an upfront payment associated with a pharmaceutical partnership, which was completed prior to March 31, 2013 (see Note 7a).  The first six (6) payments were interest-only, with principal and interest payments due monthly thereafter.  Interest was calculated at the higher of 4% or the thirty (30) day London Inter Bank Offered Rate ("LIBOR") plus 7%.  Pursuant to the below Credit Agreement, the Loan agreement with MidCap Funding III, LLC was repaid in full.
	On August 8, 2013, SWK Funding LLC ("SWK"), a wholly-owned subsidiary of SWK Holdings Corporation entered into a credit agreement (the "Credit Agreement") pursuant to which the lenders party thereto provided to the Company a term loan in the principal amount of US$6,000,000 ($6,208,609) (the "Loan") which may be increased by an additional US$2,000,000 ($2,056,978) at the Company's request on or before December 31, 2014.  SWK served as the agent under the Credit Agreement.  The Loan matures on August 8, 2018. Interest and principal under the Loan will be paid by a Revenue Based Payment that is charged on quarterly revenues of the Company, applied in the following priority (i) first, to the payment of all fees, costs, expenses and indemnities due and owing to SWK under the Credit Agreement, (ii) second, to the payment of all fees, costs, expenses and indemnities due and owing to the lenders under the Credit Agreement, (iii) third, to the payment of all accrued but unpaid interest until paid in full; and (iv) fourth, for each quarter after August 8, 2014, to the payment of all principal under the Loan up to a maximum of US$650,000 ($668,518) in respect of any fiscal quarter.  All amounts applied under the Revenue Based Payment will be made to each lender according to its pro-rata share of the Loan.  The lenders will be entitled to certain additional payments in connection with repayments of the Loan, both on maturity and in connection with a prepayment or partial prepayment.  Pursuant to the terms of the Credit Agreement, the Company entered into a Guaranty and Collateral Agreement granting the lenders a security interest in substantially all of the Company’s assets (the "Collateral").  The Credit Agreement contains customary affirmative and negative covenants for credit facilities of its type, including but not limited to, limiting the Company’s ability to pay dividends or make any distributions, incur additional indebtedness, grant additional liens, engage in any other line of business, make investments, merge, consolidate or sell all or substantially all of its assets and enter into transactions with related parties.  The Credit Agreement also contains certain financial covenants, including, but not limited to, certain minimum net sales requirements and a requirement to maintain at least $1,000,000 of unencumbered liquid assets at the end of each fiscal quarter.  The Credit Agreement includes customary events of default, including but not limited to, failure to pay principal, interest or fees when due, failure to comply with covenants, default under certain other indebtedness, certain insolvency or bankruptcy events, the occurrence of certain material judgments the institution of any proceeding by a government agency or a change of control of the Company.   The obligations under the Credit Agreement to repay the Loan may be accelerated upon the occurrence of an event of default under the Credit Agreement.  A 4% agent fee on the above mentioned transaction was paid on the amounts borrowed above US$3,500,000 ($3,599,712).
	The Loan shall accrue interest at an annual rate of 11.5% plus the Libor Rate (as defined in the Credit Agreement), with the Libor Rate being subject to a minimum floor of 2%, such that that minimum interest rate is 13.5%.  In the event of a change of control, a merger or a sale of all or substantially all of the Company’s assets, the Loan shall be due and payable.
	In connection with the MidCap Loan Agreement, the Company granted warrants to purchase an aggregate of 750,000 common shares in the capital of the Company at an exercise price of US$0.56 ($0.58). The grant date fair value of the warrants was $312,000.  Of this amount, $208,000 for 500,000 warrants was recorded as a warrant liability, with an equal amount recorded as a discount to the carrying value of the loan in the accompanying financial statements.  The remaining $104,000 was in respect of 250,000 warrants which were granted for compensation of the transaction and has been classified as debt issuance costs and recorded as a warrant liability.  In connection with the Loan the Company issued to SWK 755,794 common share purchase warrants with each warrant entitling SWK to acquire one common share in the capital of the Company at an exercise price of US$0.5954 ($0.6124), at any time prior to August 8, 2020.  The grant date fair value of the warrants was $445,794, which was recorded as warrant liability, with an equal amount recorded as a discount to the carrying value of the loan.  In addition, an origination fee of US$120,000 ($124,172) was paid to SWK and treated as a discount to the carrying value of the loan.
	The discount to the carrying value of the Loan is being amortized as a non-cash interest expense over the term of the Loan using the effective interest rate method.  The grant date fair value of the warrants issued to MidCap was determined using the Black-Scholes model with the following assumptions: expected volatility of 124.6%, a risk-free interest rate of 1.48%, an expected life of five years, and no expected dividend yield.  The grant date fair value of the warrants issued to SWK was determined using the Black-Scholes model with the following assumptions: expected volatility of 128%, a risk-free interest rate of 2.26%, an expected life of seven years, and no expected dividend yield.
	During the three and nine month periods ended September 30, 2013, the Company accreted $20,895 and $68,123, respectively (2012 - $38,201 and $38,201, respectively) in non-cash accretion expense in connection with the long term loans, which is included in accretion expense on the condensed interim statements of operations, comprehensive loss and deficit.
	During 2012, the Company also incurred $341,489 in financing fees and legal costs related to closing the MidCap Loan Agreement.  These fees and costs were classified as debt issuance costs on the balance sheets and were being amortized as a non-cash interest expense using the effective interest rate method.  Upon repayment of the MidCap Loan all financing fees and legal costs associated with the MidCap Loan not yet amortized were expensed to loss on extinguishment of loan on the condensed interim statements of operations, comprehensive loss and deficit.  During 2013, the Company also incurred US$294,971 ($303,374) in financing fees and legal costs related to closing the Credit Agreement and recorded US$60,000 ($61,710) related to an exit fee payable to SWK upon the retirement of the Loan.  These fees and costs were classified as debt issuance costs on the balance sheets.  These assets are being amortized as a non-cash interest expense over the term of the outstanding Loan using the effective interest rate method.  During the three and nine month periods ended September 30, 2013, the Company amortized $31,263 and $137,092, respectively (2012 – $58,639 and $89,936, respectively) in non-cash interest expense, which is included in amortization expense on the condensed interim statements of operations, comprehensive loss and deficit.
	During the nine month period ended September 30, 2013, the Company made principal payments of US$3,281,250 ($3,386,630) (December 31, 2012 - US$218,750 ($215,185)) and interest payments of US$237,951 ($244,733) (December 31, 2012 – US$217,164 ($213,624)) under the MidCap and SWK loan agreements.  The Company has estimated the following revenue-based principal and interest payments over the next five years ended December 31 based on the assumption that only the minimum revenue requirements will be met under the Credit Agreement:
		Principal Payments			Interest Payments
	2013		-			US$207,000	($212,897)
	2014		US$192,415	($197,899)		US$817,834	($841,143)
	2015		US$1,029,808	($1,059,158)		US$732,692	($753,574)
	2016		US$1,226,439	($1,261,393)		US$581,061	($597,621)
	2017		US$1,450,105	($1,491,417)		US$402,395	($413,863)
	2018		US$2,146,232	($2,207,400)		US$145,608	($149,758)

7_Capital_Stock

7. Capital Stock	9 Months Ended
	Sep. 30, 2013
Equity [Abstract]	'
7. Capital Stock	'
	(a)	Common Shares
	During the year ended December 31, 2012, the Company issued 2,000,000 common shares related to a contingent liability recorded on December 1, 2011. The difference between the fair value of these shares at December 31, 2011 and the fair value on the date of issuance was a credit of $79,724 which was recorded as a reduction of expense to the “change in fair value of contingent consideration” on the statements of operations, comprehensive loss and deficit.
	During the nine month period ended September 30, 2013, the Company completed two private placement offerings in which 11,471,196 units were issued for gross proceeds of US$4,595,000 ($4,713,787).  As a part of the private placements, the Company issued 11,362,500 units at a price of US$0.40 ($0.41) per unit and granted 11,362,500 common share purchase warrants to the participants.  Each unit consisted of one common share of the Company's stock and one-half of one Series A common share purchase warrant (a "Series A Warrant") and one-half of one Series B common share purchase warrant (a "Series B Warrant"). Each whole Series A Warrant entitles the holder thereof to acquire one common share of the Company at any time during the period ending 24 months after the date of issuance at a price of US$0.50 ($0.51) per common share.  Each whole Series B Warrant entitles the holder thereof to acquire one common share of the Company at a price of US$0.60 ($0.62) per share at any time during the period ending 60 months after the date of issuance.  The terms of the Series B Warrants provide the Company with a right to call the Series B Warrants at a price of US$0.001 per warrant if certain conditions are met including the common shares trading at a volume weighted average price for 20 out of 30 consecutive trading days at a price which exceeds US$1.20 (subject to adjustment for stock splits, recapitalizations and other corporate transactions) with average daily volume during such period of at least US$30,000.  The remaining 108,696 units were issued at a price of US$0.46 ($0.47) per unit.  Each unit consists of one common share of the Company’s stock and one warrant exercisable at any time during the period ending 60 months after the date of the issuance at a price of US$0.55 ($0.57).
	Directors, officers and individuals related to directors purchased 6,046,196 units for gross proceeds of US$2,425,000 ($2,412,147) pursuant to this private placement.
	In connection with the private placement, the Company paid cash commissions of US$248,219 ($252,101) and issued 345,188 Series A broker warrants and 345,188 Series B broker warrants valued at US$168,491 ($172,986).  See note 7c.  Each Series A broker warrant entitles the holder to purchase one common share at an exercise price of US$0.50 ($0.51) for a period of twenty four months.  Each Series B broker warrant entitles the holder to purchase one common share at an exercise price of $0.60 ($0.62) for a period of 60 months after the date of issuance.  Total other issuance costs associated with the private placements were $181,770.  The Series B broker warrants also contain a call right similar to the Series B Warrant described above.
			Number of Shares		Amount
	Balance, December 31, 2012			39,610,042	$	17,589,957
	Common shares issued			11,362,500		4,662,700
	Common share purchase warrants – valuation			—		-1,723,693
	Share issuance costs			—		-428,857
	Broker warrants – valuation allocation			—		-172,986
	Balance, March 31, 2013 and June 30, 2013			50,972,542	$	19,927,121
	Common shares issued			108,696		51,087
	Share issuance costs			—		-5,014
	Common share purchase warrants – valuation			—		-22,810
	Balance, September 30, 2013			51,081,238	$	19,950,384
	(b)           Stock Based Compensation
	During the three and nine month periods ended September 30, 2013, there were 167,000 and  1,173,250  options granted to officers and employees of the Company (2012 – 30,000 and 275,000, respectively).  The exercise price of 286,250 of these options is $0.40, with quarterly vesting terms at 25% on each of March 31, June 30, September 30 and December 31, 2014, upon achieving certain financial objectives.  Since stock-based compensation is recognized only for those awards that are ultimately expected to vest, the Company has applied an estimated forfeiture rate (based on historical experience and projected employee turnover) to unvested awards for the purpose of calculating compensation expense.  The grant date fair value of these options was estimated as $0.33 using the Black-Scholes option pricing model, based on the following assumptions: expected dividend yield of 0%; expected volatility of 123%; risk free interest rate of 1.49%; and expected term of 5 years.
	Additionally, 720,000 options had an exercise price of $0.42, with vesting as to one-twelfth at the end of each fiscal quarter over a three year period, commencing on September 30, 2013.  The grant date fair value of these options was estimated as $0.34 using the Black-Scholes option pricing model, based on the following assumptions: expected dividend yield of 0%; expected volatility of 122%; risk free interest rate of 1.84%; and expected term of 5 years.
	The remaining 167,000 options had an exercise price as follows: 150,000 at $0.53 and 17,000 at $0.39.  Of these options 150,000 will vest as to one-eighth over a period of two years in equal installments at the end of every fiscal quarter starting on the first day of the first fiscal quarter following the quarter in which the performance criteria has been met.  The remaining 17,000 options will vest quarterly over the next two years with the first vesting date being September 30, 2013. The weighted average grant date fair value of these options was estimated as $0.42 using the Black-Scholes option pricing model, based on the following assumptions: expected dividend yield of 0%; expected volatility of 122%; risk free interest rate of 1.89%; and expected term of 4.96 years.
	The Company’s stock-based compensation program (the "Plan") includes stock options in which some options vest based on continuous service, while others vest based on performance conditions such as profitability and sales goals. For those equity awards that vest based on continuous service, compensation expense is recorded over the service period from the date of grant. For performance-based awards, compensation expense is recorded over the remaining service period when the Company determines that achievement is probable.
	For the three and nine month periods ended September 30, 2013, the Company recorded $138,513 and $428,482, respectively (2012 – $139,909 and $460,332, respectively) as compensation expense for options previously issued to directors, officers and employees based on continuous service.  This expense was recorded as selling, general and administrative expense on the condensed interim statements of operations, comprehensive loss and deficit.  Due to termination of employment, 40,000 options issued to employees in 2012 and 25,000 options in 2013 were removed from the number of options issued.
	The activities in additional paid in-capital options are as follows:
			Amount
	Balance, December 31, 2012		$	1,867,723
	Expense recognized for options issued to employees/directors			428,482
	Balance, September 30, 2013		$	2,296,205
	The total number of options outstanding as at September 30, 2013 was 4,320,752 (December 31, 2012 – 3,212,502).
	The maximum number of options that may be issued under the Plan is floating at an amount equivalent to 10% of the issued and outstanding common shares, or 5,108,124 shares as at September 30, 2013 (December 31, 2012 –3,961,004).
	The weighted average fair value of options expensed during the three and nine month periods ended September 30, 2013 was estimated at $0.46 and $0.48, respectively (2012 - $0.50 and $0.50, respectively).
	(c)	Warrants
	As at September 30, 2013, the following warrants were outstanding:
			Number of		Weighted Average			Fair
					Exercise
	Expiry Date		Warrants		Price			Value
	11-May-17			750,000		US$0.56	($0.58)	$	271,999
	27-Feb-15			4,429,688		US$0.50	($0.51)	$	853,450
	27-Feb-18			4,429,687		US$0.60	($0.62)	$	1,679,517
	5-Mar-15			1,253,000		US$0.50	($0.51)	$	238,829
	5-Mar-18			1,253,000		US$0.60	($0.62)	$	475,075
	11-Mar-15			343,750		US$0.50	($0.51)	$	70,125
	11-Mar-18			343,750		US$0.60	($0.62)	$	130,333
	8-Aug-18			755,794		US$0.60	($0.61)	$	316,375
	20-Sep-18			108,696		US$0.55	($0.57)	$	42,593
				13,667,365		US$0.55	($0.57)	$	4,078,296
	In connection with a private placement offering in October 2010, the Company granted 1,500,000 warrants to the participants, each exercisable into one common share as follows: 500,000 at US$1.50 ($1.54), 500,000 at US$2.00 ($2.06) and 500,000 at US$2.50 ($2.57) each for a period of 18 months, ending on April 8, 2012.  The exercise price of the 1,500,000 warrants is denominated in US dollars while the Company’s functional and reporting currency is the Canadian dollar.  As a result, the fair value of the warrants fluctuates based on the current stock price, volatility, the risk free interest rate, time remaining until expiry and changes in the exchange rate between the US and Canadian dollar.  On April 5, 2012, the Company granted a one year extension on these warrants and recorded $135,157 to cost of extending the warrant expiration on the condensed interim statements of operations, comprehensive loss and deficit.  The fair value of these warrants on date of grant was estimated using the Black-Scholes option pricing model, based on the following assumptions: expected dividend yield of 0%; expected volatility of 107%; risk free interest rate of 1.43%; and expected term of 1 year.  These warrants expired during the nine month period ended September 30, 2013.
	On May 11, 2012, the Company granted 750,000 warrants in connection with the long-term debt obligation, at an exercise price of US$0.56 ($0.58).  Subsequently, the pro rata exercise price of the 1,500,000 warrants described above was adjusted due to the exercise rate of the 750,000 new warrants being lower than the original exercise price of the October 2010 warrants.  The effect of this pro rata change was as follows: 500,000 at US$1.47 ($1.51), 500,000 at US$1.96 ($2.02) and 500,000 at US$2.46 ($2.53).  The fair value of these warrants fluctuates based on the current stock price, volatility, the risk free interest rate, time remaining until expiry and changes in the exchange rate between the US and Canadian dollar.  The fair value of the warrant liability at the date of grant was estimated using the Black-Scholes option pricing model, based on the following assumptions: expected dividend yield of 0%; expected volatility of 124%; risk free interest rate of 1.48%; and expected term of 5 years.
	In connection with the SWK Loan the Company issued to SWK 755,794 common share purchase warrants with each warrant entitling SWK to acquire one common share in the capital of the Company at an exercise price of US$0.5954 ($0.6124), at any time prior to August 8, 2020.
	In connection with a private placement offerings completed during the nine month period ended September 30, 2013, the Company granted an aggregate of 12,161,571 share purchase warrants to the participants each exercisable into one common share as follows:  6,026,438 at US$0.50 ($0.51) exercisable on or before March 11, 2015 and 6,026,437 at US$0.60 ($0.62) exercisable on or before March 11, 2018.  The exercise price of the 12,052,875 warrants is denominated in US dollars while the Company’s functional and reporting currency is the Canadian dollar.  As a result, the fair value of the warrants fluctuates based on the current stock price, volatility, the risk free interest rate, time remaining until expiry and changes in the exchange rate between the US and Canadian dollar.  The fair value of the warrant liability at the date of grant for these warrants was $1,896,679 and was estimated using the Black-Scholes option pricing model, based on the following weighted average assumptions: expected dividend yield of 0%; expected volatility of 117.4%; risk free interest rate of 1.16%; and expected term of 3.5 years. The remaining 108,696 share purchase warrants are exercisable on or before September 20, 2018 at US$0.55 ($0.57).  The fair value of the warrant liability at the date of grant for these warrants was $22,810 and was estimated using the Black-Scholes option pricing model, based on the following weighted average assumptions: expected dividend yield of 0%; expected volatility of 130.0%; risk free interest rate of 1.89%; and expected term of 5 years.
	ASC 815 "Derivatives and Hedging" indicates that warrants with exercise prices denominated in a different currency other than an entity’s functional currency should not be classified as equity.  As a result, these warrants have been treated as derivatives and recorded as liabilities carried at their fair value, with period-to-period changes in the fair value recorded as a gain or loss in the condensed interim statements of operations, comprehensive loss and deficit.  The Company treated the compensation warrants as a liability upon their issuance.
	As at September 30, 2013, the fair value of the warrant liability of $4,078,296 (December 31, 2012 - $202,213) was estimated using the Black-Scholes option pricing model based on the following weighted average assumptions: expected dividend yield of 0% (December 31, 2012 – 0%) expected volatility of 117.1% (December 31, 2012 – 108.4%) risk-free interest rate of 1.58% (December 31, 2012 – 1.20%) and expected term of 3.19 years (December 31, 2012 – 1.65 years).

8_Loss_Per_Share

8. Loss Per Share	9 Months Ended
	Sep. 30, 2013
Earnings Per Share [Abstract]	'
8. Loss Per Share	'
	The treasury stock method assumes that proceeds received upon the exercise of all warrants and options outstanding in the period is used to repurchase the Company’s shares at the average share price during the period.  The diluted earnings per share is not computed when the effect of such calculation is anti-dilutive.  In periods when losses are reported, the weighted-average number of common shares outstanding excludes common stock equivalents because their inclusion would be anti-dilutive.  Potentially dilutive securities, which were not included in diluted weighted average shares for the three and nine month periods ended September 30, 2013 and September 30, 2012, consist of outstanding stock options (4,350,752 and 3,202,502, respectively) and outstanding warrant grants (13,667,365 and 2,250,000, respectively)
	The following table sets forth the computation of (loss) per share:
		For the Three Month Period						For the Nine Month Period
		Ended September 30						Ended September 30
		2013			2012			2013			2012
	Numerator:
	Net (loss) available to common shareholders	$	(2,583,576	)	$	(718,640	)	$	(6,286,035	)	$	(2,076,410	)
	Denominator:
	Weighted average number of common shares		50,985,538			39,610,042			48,525,136			39,018,801
	Effect of dilutive common shares		-			-			-			-
	Diluted weighted average number of common shares outstanding		50,985,538			39,610,042			48,525,136			39,018,801
	(Loss) per share – basic and diluted	$	(0.05	)	$	(0.02	)	$	(0.13	)	$	(0.05	)

9_Statement_of_Cash_Flows

9. Statement of Cash Flows	9 Months Ended
	Sep. 30, 2013
Supplemental Cash Flow Elements [Abstract]	'
9. Statement of Cash Flows	'
	Changes in non-cash balances related to operations are as follows:
		For the Nine Months Ended September 30
		2013			2012
	Accounts receivable	$	(103,781	)	$	(444,232	)
	Inventories		(141,943	)		111,182
	Prepaid expenses and other receivables		(284,271	)		(224,855	)
	Taxes recoverable		(283,926	)		(7,203	)
	Accounts payable and accrued liabilities		(1,815,265	)		315,615
		$	(2,629,186	)	$	(249,493	)
	During the nine month period ended September 30, 2013, there was $320,029 (2012 - $158,186) in interest paid and $nil in taxes paid (2012 – $nil).
	During the nine month period ended September 30, 2013, there was $137,092 (2012 - $89,936) of non-cash debt issuance costs expensed as amortization of assets (see note 6).
	During the nine month period ended September 30, 2013, broker warrants were issued with a grant date value of $172,986 (2012 - $nil).

10_Contingencies_and_Commitmen

10. Contingencies and Commitments	9 Months Ended
	Sep. 30, 2013
Commitments and Contingencies Disclosure [Abstract]	'
10. Contingencies and Commitments	'
	The Company has royalty, licensing and manufacturing agreements that have remained in effect for the Company during the quarter.  In addition, there were no material changes to the lease agreements during the period.
	(a)           License Agreements
	On December 1, 2011, the Company acquired 100% of the outstanding shares of Tribute Pharmaceuticals Canada Ltd. and Tribute Pharma Canada Inc.  Included in this transaction were the following license agreements:
	On June 30, 2008, Tribute signed a Sales, Marketing and Distribution Agreement with Actavis Group PTC ehf (“Actavis”) to perform certain sales, marketing, distribution, finance and other general management services in Canada in connection with the importation, marketing, sales and distribution of Bezalip® SR and Soriatane® (the “Products”).  On January 1, 2010, a first amendment was signed with Actavis to grant the Company the right and obligation to more actively market and promote the Products in Canada.  On March 31, 2011, a second amendment was signed with Actavis that extended the term of the agreement, modified the terms of the agreement and increased the Company’s responsibilities to include the day-to-day management of regulatory affairs, pharmacovigilance and medical information relating to the Products.  The Company pays Actavis a sales and distribution fee up to an annual base-line net sales forecast plus an incremental fee for incremental net sales above the base-line.  The Company agreed and fulfilled a marketing budget for the first three years of not less than $3,750,000.  On May 4, 2011, the Company signed a Product Development and Profit Share Agreement with Actavis to develop, obtain regulatory approval of and market Bezalip SR in the USA.  The Company shall pay US$5,000,000 to Actavis within 30 days of receipt of the regulatory approval to market Bezalip SR in the USA.
	On November 9, 2010, the Company signed a license agreement (the "License Agreement") with Nautilus Neurosciences, Inc. (“Nautilus”) for the exclusive rights to develop, register, promote, manufacture, use, market, distribute and sell Cambia® in Canada.  On August 11, 2011, the Company and Nautilus executed the first amendment to the License Agreement and on September 30, 2012 executed the second amendment to the License Agreement.  The payments under this agreement include: a) US$250,000 ($257,125) upfront payment to Nautilus upon the execution of this agreement - paid; and b) the following milestone payments; i) US$750,000 ($771,375) to be paid upon the earlier of the first commercial sale of the product or six months after all regulatory approvals.  As per the second amendment of the License Agreement, a payment of US$250,000 ($257,125) was paid in October 2012, while the remaining US$500,000 ($514,250) was made on March 1, 2013.  Additional one-time performance based sales milestones are due as follows: i) US$250,000 ($257,125) the first year in which  annual net sales exceed US$2,500,000 ($2,622,675), ii) US$500,000 ($514,250) the first year in which the annual net sales exceed US$5,000,000 ($5,142,500),  iii) US$750,000 ($771,375) the first year in which the annual net sales exceed US$7,500,000 ($7,713,750), iv) US$1,000,000 ($1,028,500) the first year in which the annual net sales exceed US$10,000,000 ($10,285,000), v) US$1,500,000 ($1,542,750) the first year the annual net sales exceed US$15,000,000 ($15,427,500), and vi) US$2,000,000 ($2,057,000) the first year in which the annual net sales exceed US$20,000,000 ($20,570,000).  Royalty rates are tiered and payable at rates ranging from 22.5-25.0% of net sales.  The initial term of the agreement expires on September 30, 2025 but is subject to automatic renewals under certain circumstances.
	On December 30, 2011, the Company signed a License Agreement to commercialize MycoVa in Canada.  As of September 30, 2013 this product has not been filed with Health Canada and to-date no upfront payments have been paid.  Within 10 days of execution of a manufacturing agreement, the Company shall pay an up-front license fee of $200,000.  Upon Health Canada approval the Company shall pay $400,000. Sales milestones payments of $250,000 each are based on the achievement of aggregate net sales in increments of $5,000,000.  Royalties are payable at rates ranging from 20% to 25% of net sales.
	(b)           Executive Termination Agreements
	The Company currently has employment agreements with the provision of termination and change of control benefits with certain officers and executives of the Company.  The agreements for the officers and executives provide that in the event that any of their employment is terminated during the initial term (i) by the Company for any reason other than just cause or death; (ii) by the Company because of disability; (iii) by the officer or executive for good reason; or (iv) by a change of control, the officer or executive shall be entitled to the balance of the remuneration owing for the remainder of the initial term of up to an aggregate amount of $952,200 as of September 30, 2013 (December 31, 2012 - $1,314,167) or if a change of control occurs subsequent to the initial term, while the officers or executives are employed on an indefinite basis, a lump sum payment of up to an aggregate amount of $1,527,200 (based on current base salaries).

11_Significant_Customers

11. Significant Customers	9 Months Ended
	Sep. 30, 2013
Risks and Uncertainties [Abstract]	'
11. Significant Customers	'
	During the three month period ended September 30, 2013, the Company had two significant wholesale customers that represented 58.7% of product sales (2012 – 54.4% (two major wholesalers)).
	During the nine month period ended September 30, 2013, the Company had two significant wholesale customers that represented 57.9% of product sales (2012 – 54.3% (two major wholesalers)).
	The Company believes that its relationship with these customers is satisfactory.

12_Related_Party_Transactions

12. Related Party Transactions	9 Months Ended
	Sep. 30, 2013
Related Party Transactions [Abstract]	'
12. Related Party Transactions	'
	Fees were paid to LMT Financial Inc. ("LMT") (a company beneficially owned by a director and former officer of the Company and his spouse) for consulting services.  For the three and nine month periods ended September 30, 2013, the Company recorded and paid an aggregate of $6,000 and $42,000, respectively to LMT (2012 - $37,500 and $112,500, respectively) which has been recorded as selling, general and administrative expense in the condensed interim statements of operations,  comprehensive loss and deficit.
	See Note 7 (a).

13_Income_Taxes

13. Income Taxes	9 Months Ended
	Sep. 30, 2013
Income Tax Disclosure [Abstract]	'
13. Income Taxes	'
	The Company has no taxable income under Canadian Federal and Provincial tax laws for the nine month periods ended September 30, 2013 and 2012. The Company has non-capital loss carry-forwards at September 30, 2013 totaling approximately $9,500,000, which may be offset against future taxable income.  If not utilized, the loss carry-forwards will expire between 2014 and 2033.  The cumulative carry-forward pool of SR&ED expenditures as at September 30, 2013, that may be offset against future taxable income, with no expiry date, is $1,798,300.
	The non-refundable portion of the tax credits as at September 30, 2013 was $341,300.

14_Segmented_Information

14. Segmented Information	9 Months Ended
	Sep. 30, 2013
Segment Reporting [Abstract]	'
14. Segmented Information	'
	The Company is a specialty pharmaceutical company with a primary focus on the acquisition, licensing, development and promotion of healthcare products in Canada.  The Company targets several therapeutic areas in Canada, but has a particular interest in products for the treatment of pain, dermatology and endocrinology/cardiology.  The Company also sells Uracyst® and NeoVisc® internationally through a number of strategic partnerships.  Currently, all of the Company’s manufacturing assets are located in Canada.  All direct sales take place in Canada.  Licensing arrangements have been obtained to distribute and sell the Company’s products in various countries around the world.
	Revenue for the three and nine month periods ended September 30, 2013 and 2012 includes products sold in Canada and international sales of products.  Revenue earned is as follows:
		For the Three Month Period				For the Nine Month Period
		Ended September 30				Ended September 30
		2013		2012		2013		2012
	Product sales:
	Domestic sales	$	3,022,993	$	2,830,118	$	8,964,777	$	7,773,046
	International sales		347,551		369,816		1,037,103		1,193,219
	Other revenue		9,702		13,565		32,554		38,450
	Total	$	3,380,246	$	3,213,499	$	10,034,434	$	9,004,715
		For the Three Month Period				For the Nine Month Period
		Ended September 30				Ended September 30
		2013		2012		2013		2012
	Royalty revenues:
	Royalty  revenues	$	99,884	$	-	$	197,924	$	-
	Total	$	99,884	$	-	$	197,924	$	-
	The Company currently sells its own products and is in-licensing other products in Canada.  In addition, revenues include products which the Company out-licenses throughout most countries in Europe, the Caribbean, Austria, Germany, Italy, Lebanon, Kuwait, Malaysia, Portugal, Romania, Spain, South Korea, Turkey, Egypt, Hong Kong  and the United Arab Emirates.  The operations reflected in the condensed interim statements of operations, comprehensive loss and deficit includes the Company’s activity in these markets.

15_Foreign_Currency_Gain_Loss

15. Foreign Currency Gain (Loss)	9 Months Ended
	Sep. 30, 2013
Foreign Currency [Abstract]	'
15. Foreign Currency Gain (Loss)	'
	The Company enters into foreign currency transactions in the normal course of business.  During the three and nine month periods ended September 30, 2013, the Company had a foreign currency (gain) loss of ($20,060) and $76,204, respectively (2012 – $184,319 and $105,281).  These amounts have been included in selling, general and administrative expenses in the condensed interim statement of operations, comprehensive loss and deficit.

16_Financial_Instruments

16. Financial Instruments	9 Months Ended
	Sep. 30, 2013
Investments, All Other Investments [Abstract]	'
16. Financial Instruments	'
	(a)	Financial assets and liabilities – fair values
	The carrying amounts of cash and cash equivalents, accounts receivable, certain other current assets, accounts payables and accrued liabilities are a reasonable estimate of their fair values because of the short maturity of these instruments.
	Warrant liability is a financial liability where fluctuations in market rates will affect the fair value of this financial instrument.  The Company uses the following hierarchy for determining and disclosing the fair value of financial instruments by valuation technique:
	Level 1: quoted prices in active markets for identical assets or liabilities
	Level 2: other techniques for which all inputs which have a significant effect on the recorded fair value are observable, either directly or indirectly
	Level 3: techniques which use inputs which have a significant effect on the recorded fair value that are not based on observable market data.
	Cash equivalents and warrant liability are classified as Level 2 financial instruments within the fair value hierarchy.
	(b)	Liquidity risk
	The Company generates sufficient cash from operating and financing activities to fund its operations and fulfill its obligations as they become due.  The Company has sufficient funds available through its cash, cash equivalents, and financing arrangements, should its cash requirements exceed cash generated from operations to cover financial liability obligations.  The Company’s investment policy is to invest excess cash resources into highly liquid short-term investments purchased with an original maturity of three months or less with tier one financial institutions.  As at September 30, 2013, there were no restrictions on the flow of these funds nor have any of these funds been committed in any way, except as outlined in the detailed notes.
	(c)	Concentration of credit risk and major customers
	The Company considers its maximum credit risk to be $1,324,682 (December 31, 2012 - $1,220,901).  This amount is the total of the following financial assets: accounts receivables and loan receivable.  The Company’s cash and cash equivalents are held through various high grade financial institutions.
	The Company is exposed to credit risk from its customers and continually monitors its customers’ credit.  It establishes the provision for doubtful accounts based upon the credit risk applicable to each customer.  In line with other pharmaceutical companies, the Company sells its products through a small number of wholesalers and retail pharmacy chains in addition to hospitals, pharmacies, physicians and other groups.  Note 11 discloses the significant customer details and the Company believes that the concentrations on the Company’s customers are considered normal for the Company and its industry.
	(d)	Foreign exchange risk
	The Company principally operates within Canada; however, a portion of the Company’s revenues, expenses, and current assets and liabilities, are denominated in United States dollars and the EURO.  The Company’s long term debt is repayable in U.S. dollars, which may expose the Company to foreign exchange risk due to changes in the value of the Canadian dollar.  As at September 30, 2013, a 5% change in the foreign exchange rate would increase/decrease the long term debt balance by $300,000 and would increase/decrease both interest expense and net loss by approximately $7,600 for the nine months ended September 30, 2013.  The Company believes a near-term change in foreign exchange rates would not have a material adverse effect on the financial position or results of operations.  Accordingly, the Company does not enter into financial hedging or other derivative contracts.
	(e)	Interest rate risk
	The Company is exposed to interest rate fluctuations on its cash and cash equivalents as well as its long term debt.  The Company does not believe that the results of operations or cash flows would be materially affected to any significant degree by a sudden change in market interest rates relative to interest rates on the cash equivalents.  At September 30, 2013, the Company had an outstanding long term debt balance of US$6,000,000 ($6,171,000), which bears interest annually at a rate of 11.5% plus the Libor Rate with the Libor Rate being subject to a minimum floor of 2%, such that that minimum interest rate is 13.5%, which may expose the Company to market risk due to changes in interest rates.  For the nine month period ended September 30, 2013, a 1% increase in interest rates would increase interest expense and net loss by approximately $9,100. However, based on current LIBOR interest rates, which are currently under the minimum floor set at 2% and based on historical movements in LIBOR rates, the Company believes a near-term change in interest rates would not have a material adverse effect on the financial position or results of operations.

1_Basis_of_Presentation_Policy

1. Basis of Presentation (Policy)	9 Months Ended
	Sep. 30, 2013
Accounting Policies [Abstract]	'
Estimates	'
	The preparation of these financial statements has required 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 financial statements and the reported amounts of the revenues and expenses during the reporting period.  On an ongoing basis, the Company evaluates its estimates, including those related to provision for doubtful accounts, accrued liabilities, income taxes, stock based compensation, revenue recognition and intangible assets.  The Company bases its estimates on historical experiences and on various other assumptions believed to be reasonable under the circumstances.  Actual results could differ from those estimates. As adjustments become necessary, they are reported in earnings in the period in which they become known.
Recently Adopted Accounting Standards	'
	On January 1, 2013, the Company adopted the accounting standard set out below.
	In July 2012, the FASB issued an accounting standards update that gives an entity the option to first assess qualitative factors to determine whether it is more likely than not that an indefinite-lived intangible asset is impaired.  If, after assessing the totality of events and circumstances, an entity concludes that it is not more likely than not that the indefinite-lived intangible asset is impaired, then the entity is not required to take further action.  This guidance will be effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012, which will be the Company's 2013 fiscal year.  The adoption of this guidance did not have a material impact on the Company’s financial statements.

2_Inventories_Tables

2. Inventories (Tables)	9 Months Ended
	Sep. 30, 2013
Inventory Disclosure [Abstract]	'
Schedule of Inventory	'
		September 30,		December 31,
		2013		2012
	Raw materials	$	306,428	$	215,332
	Finished goods		353,695		284,147
	Packaging materials		61,099		91,476
	Work in process		421,278		409,602
		$	1,142,500	$	1,000,557

3_Prepaid_Expenses_and_Other_R1

3. Prepaid Expenses and Other Receivables (Tables)	9 Months Ended
	Sep. 30, 2013
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]	'
Schedule of Prepaid Expenses and Other Receivables	'
		September 30,		December 31,
		2013		2012
	Prepaid operating expenses	$	219,143	$	113,735
	Deposits		178,188		-
	Interest receivable on loan receivables		5,850		5,175
		$	403,181	$	118,910

4_Property_Plant_and_Equipment1

4. Property, Plant and Equipment (Tables)	9 Months Ended
	Sep. 30, 2013
Property, Plant and Equipment [Abstract]	'
Schedule of Property, Plant and Equipment	'
		30-Sep-13
		Cost		Accumulated		Net Carrying
				Amortization		Amount
	Land	$	90,000	$	-	$	90,000
	Building		618,254		262,158		356,096
	Leasehold improvements		10,359		2,072		8,287
	Office equipment		61,308		47,259		14,049
	Manufacturing equipment		1,103,525		568,217		535,308
	Warehouse equipment		17,085		16,571		514
	Packaging equipment		111,270		50,175		61,095
	Computer equipment		128,880		81,993		46,887
		$	2,140,681	$	1,028,445	$	1,112,236
		31-Dec-12
		Cost		Accumulated		Net Carrying
				Amortization		Amount
	Land	$	90,000	$	-	$	90,000
	Building		618,254		238,973		379,281
	Leasehold improvements		10,359		518		9,841
	Office equipment		61,315		44,137		17,178
	Manufacturing equipment		1,103,523		541,880		561,643
	Warehouse equipment		17,085		15,989		1,096
	Packaging equipment		111,270		42,302		68,968
	Computer equipment		103,313		71,945		31,368
		$	2,115,119	$	955,744	$	1,159,375

5_Intangible_Assets_Tables

5. Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2013
Intangible Assets Tables	'
Schedule of Intangible Assets	'
		30-Sep-13
		Cost		Accumulated		Net Carrying
				Amortization		Amount
	Patents	$	248,621	$	36,692	$	211,929
	Licensing asset		1,005,820		77,371		928,449
	Licensing agreements		10,004,000		1,195,185		8,808,815
		$	11,258,441	$	1,309,248	$	9,949,193
		31-Dec-12
		Cost		Accumulated		Net Carrying
				Amortization		Amount
	Patents	$	235,441	$	28,139	$	207,302
	Licensing asset		1,005,820		19,343		986,477
	Licensing agreements		10,212,000		522,600		9,689,400
		$	11,453,261	$	570,082	$	10,883,179

6_Long_Term_Debt_and_Debt_Issu1

6. Long Term Debt and Debt Issuance Costs (Tables)	9 Months Ended
	Sep. 30, 2013
Debt Disclosure [Abstract]	'
Schedule of payments for Long-term Debt	'
		Principal Payments			Interest Payments
	2013		-			US$207,000	($212,897)
	2014		US$192,415	($197,899)		US$817,834	($841,143)
	2015		US$1,029,808	($1,059,158)		US$732,692	($753,574)
	2016		US$1,226,439	($1,261,393)		US$581,061	($597,621)
	2017		US$1,450,105	($1,491,417)		US$402,395	($413,863)
	2018		US$2,146,232	($2,207,400)		US$145,608	($149,758)

7_Capital_Stock_Tables

7. Capital Stock (Tables)	9 Months Ended
	Sep. 30, 2013
Equity [Abstract]	'
Schedule of Common Stock Outstanding	'
		Number of Shares		Amount
	Balance, December 31, 2012		39,610,042	$	17,589,957
	Common shares issued		11,362,500		4,662,700
	Common share purchase warrants – valuation		—		-1,723,693
	Share issuance costs		—		-428,857
	Broker warrants – valuation allocation		—		-172,986
	Balance, March 31, 2013 and June 30, 2013		50,972,542	$	19,927,121
	Common shares issued		108,696		51,087
	Share issuance costs		—		-5,014
	Common share purchase warrants – valuation		—		-22,810
	Balance, September 30, 2013		51,081,238	$	19,950,384
Schedule of Paid-in Capital Options	'
	The activities in additional paid in-capital options are as follows:
		Amount
	Balance, December 31, 2012	$	1,867,723
	Expense recognized for options issued to employees/directors		428,482
	Balance, September 30, 2013	$	2,296,205
Schedule of warrants outstanding	'
	As at September 30, 2013, the following warrants were outstanding:
		Number of		Weighted Average			Fair
				Exercise
	Expiry Date	Warrants		Price			Value
	11-May-17		750,000		US$0.56	($0.58)	$	271,999
	27-Feb-15		4,429,688		US$0.50	($0.51)	$	853,450
	27-Feb-18		4,429,687		US$0.60	($0.62)	$	1,679,517
	5-Mar-15		1,253,000		US$0.50	($0.51)	$	238,829
	5-Mar-18		1,253,000		US$0.60	($0.62)	$	475,075
	11-Mar-15		343,750		US$0.50	($0.51)	$	70,125
	11-Mar-18		343,750		US$0.60	($0.62)	$	130,333
	8-Aug-18		755,794		US$0.60	($0.61)	$	316,375
	20-Sep-18		108,696		US$0.55	($0.57)	$	42,593
			13,667,365		US$0.55	($0.57)	$	4,078,296

8_Loss_Per_Share_Tables

8. Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2013
Earnings Per Share [Abstract]	'
Schedule of Computation of Earnings Per Share	'
	The following table sets forth the computation of (loss) per share:
		For the Three Month Period						For the Nine Month Period
		Ended September 30						Ended September 30
		2013			2012			2013			2012
	Numerator:
	Net (loss) available to common shareholders	$	(2,583,576	)	$	(718,640	)	$	(6,286,035	)	$	(2,076,410	)
	Denominator:
	Weighted average number of common shares		50,985,538			39,610,042			48,525,136			39,018,801
	Effect of dilutive common shares		-			-			-			-
	Diluted weighted average number of common shares outstanding		50,985,538			39,610,042			48,525,136			39,018,801
	(Loss) per share – basic and diluted	$	(0.05	)	$	(0.02	)	$	(0.13	)	$	(0.05	)

9_Statement_of_Cash_Flows_Tabl

9. Statement of Cash Flows (Tables)	9 Months Ended
	Sep. 30, 2013
Supplemental Cash Flow Elements [Abstract]	'
Changes in non-cash balances	'
	Changes in non-cash balances related to operations are as follows:
		For the Nine Months Ended September 30
		2013			2012
	Accounts receivable	$	(103,781	)	$	(444,232	)
	Inventories		(141,943	)		111,182
	Prepaid expenses and other receivables		(284,271	)		(224,855	)
	Taxes recoverable		(283,926	)		(7,203	)
	Accounts payable and accrued liabilities		(1,815,265	)		315,615
		$	(2,629,186	)	$	(249,493	)

14_Segmented_Information_Table

14. Segmented Information (Tables)	9 Months Ended
	Sep. 30, 2013
Segment Reporting [Abstract]	'
Schedule of Segment Reporting	'
	Revenue for the three and nine month periods ended September 30, 2013 and 2012 includes products sold in Canada and international sales of products.  Revenue earned is as follows:
		For the Three Month Period				For the Nine Month Period
		Ended September 30				Ended September 30
		2013		2012		2013		2012
	Product sales:
	Domestic sales	$	3,022,993	$	2,830,118	$	8,964,777	$	7,773,046
	International sales		347,551		369,816		1,037,103		1,193,219
	Other revenue		9,702		13,565		32,554		38,450
	Total	$	3,380,246	$	3,213,499	$	10,034,434	$	9,004,715
Schedule of Revenue by Royalties and licensing revenue	'
		For the Three Month Period				For the Nine Month Period
		Ended September 30				Ended September 30
		2013		2012		2013		2012
	Royalty revenues:
	Royalty  revenues	$	99,884	$	-	$	197,924	$	-
	Total	$	99,884	$	-	$	197,924	$	-

2_Inventories_Details

2. Inventories (Details) (CAD)	Sep. 30, 2013	Dec. 31, 2012
Inventories Details	'	'
Raw materials	306,428	215,332
Finished goods	353,695	284,147
Packaging materials	61,099	91,476
Work in process	421,278	409,602
Inventories	1,142,500	1,000,557

3_Prepaid_Expenses_and_Other_R2

3. Prepaid Expenses and Other Receivables (Details) (CAD)	Sep. 30, 2013	Dec. 31, 2012
Prepaid Expenses And Other Receivables Details	'	'
Prepaid operating expenses	219,143	113,735
Deposits	178,188	'
Interest receivable on loan receivables	5,850	5,175
Prepaid expenses and other receivables	403,181	118,910

4_Property_Plant_and_Equipment2

4. Property, Plant and Equipment (Details) (CAD)	Sep. 30, 2013	Dec. 31, 2012
Cost	2,140,681	2,115,119
Accumulated Amortization	1,028,445	955,744
Net Carrying Amount	1,112,236	1,159,375
Land	'	'
Cost	90,000	90,000
Accumulated Amortization	'	'
Net Carrying Amount	90,000	90,000
Building	'	'
Cost	618,254	618,254
Accumulated Amortization	262,158	238,973
Net Carrying Amount	356,096	379,281
Leasehold Improvements	'	'
Cost	10,359	10,359
Accumulated Amortization	2,072	518
Net Carrying Amount	8,287	9,841
Office Equipment	'	'
Cost	61,308	61,315
Accumulated Amortization	47,259	44,137
Net Carrying Amount	14,049	17,178
Manufacturing equipment	'	'
Cost	1,103,525	1,103,523
Accumulated Amortization	568,217	541,880
Net Carrying Amount	535,308	561,643
Warehouse equipment	'	'
Cost	17,085	17,085
Accumulated Amortization	16,571	15,989
Net Carrying Amount	514	1,096
Packaging equipment	'	'
Cost	111,270	111,270
Accumulated Amortization	50,175	42,302
Net Carrying Amount	61,095	68,968
Computer equipment	'	'
Cost	128,880	103,313
Accumulated Amortization	81,993	71,945
Net Carrying Amount	46,887	31,368

5_Intangible_Assets_Details

5. Intangible Assets (Details) (CAD)	Sep. 30, 2013	Dec. 31, 2012
Cost	11,258,441	11,453,261
Accumulated Amortization	1,309,248	570,082
Net Carrying Amount	9,949,193	10,883,179
Patents	'	'
Cost	248,621	235,441
Accumulated Amortization	36,692	28,139
Net Carrying Amount	211,929	207,302
Licensing asset	'	'
Cost	1,005,820	1,005,820
Accumulated Amortization	77,371	19,343
Net Carrying Amount	928,449	986,477
Licensing agreements	'	'
Cost	10,004,000	10,212,000
Accumulated Amortization	1,195,185	522,600
Net Carrying Amount	8,808,815	9,689,400

5_Intangible_Assets_Details_Na

5. Intangible Assets (Details Narrative) (CAD)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012
Intangible Assets Details Narrative	'	'	'	'	'
Amortization expense of intangible assets	260,852	85,202	785,966	258,005	'
Patents pending not amortized	95,034	'	95,034	'	81,854

6_Long_Term_Debt_and_Debt_Issu2

6. Long Term Debt and Debt Issuance Costs (Details) (CAD)	Sep. 30, 2013
Long Term Debt And Debt Issuance Costs Details	'
Principle Payments - 2013	'
Principle Payments - 2014	197,899
Principle Payments - 2015	1,059,158
Principle Payments - 2016	1,261,393
Principle Payments - 2017	1,491,417
Principle Payments - 2018	2,207,400
Interest Payments - 2013	212,897
Interest Payments - 2014	841,143
Interest Payments - 2015	753,574
Interest Payments - 2016	597,621
Interest Payments - 2017	413,863
Interest Payments - 2018	149,758

6_Long_Term_Debt_and_Debt_Issu3

6. Long Term Debt and Debt Issuance Costs (Details Narrative) (CAD)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Long Term Debt And Debt Issuance Costs Details Narrative	'	'	'	'
Non-cash accretion expense	20,895	38,201	68,123	38,201
Non-cash interest expense	31,263	58,639	137,092	89,936
Principal payments	'	'	3,386,630	215,185
Interest payments	'	'	244,733	213,624

7_Capital_Stock_Details

7. Capital Stock (Details) (CAD)	3 Months Ended	6 Months Ended	9 Months Ended
	Sep. 30, 2013	Jun. 30, 2013	Sep. 30, 2013
Capital Stock Details	'	'	'
Begining Balance, Number of Shares	50,972,542	39,610,042	39,610,042
Begining Balance, Amount	19,927,121	17,589,957	17,589,957
Common shares issued, Number of Shares	108,696	'	'
Common shares issued, Amount	51,087	'	'
Common share purchase warrants - valuation, Amount	-22,810	-1,723,693	'
Share issuance costs, Amount	-5,014	-428,857	-433,871
Broker warrants - valuation allocation, Amount	'	-172,986	'
Ending Balance, Number of Shares	51,081,238	50,972,542	51,081,238
Ending Balance, Amount	19,950,384	19,927,121	19,950,384

7_Capital_Stock_Details_1

7. Capital Stock (Details 1) (CAD)	9 Months Ended
	Sep. 30, 2013
Notes to Financial Statements	'
Paid-in Capital Options, Beginning	1,867,723
Expense recognized for options issued to employees/directors	428,482
Paid-in Capital Options, Ending	2,296,205

7_Capital_Stock_Details_2

7. Capital Stock (Details 2) (CAD)	Sep. 30, 2013	Sep. 30, 2012
Number of Warrants	13,667,365	2,250,000
Weighted Average Exercise Price	0.57	'
Fair Value @ September 30, 2013	4,078,296	'
Option 1	'	'
Expiration Date	11-May-17	'
Number of Warrants	750,000	'
Weighted Average Exercise Price	0.58	'
Fair Value @ September 30, 2013	271,999	'
Option 2	'	'
Expiration Date	27-Feb-15	'
Number of Warrants	4,429,688	'
Weighted Average Exercise Price	0.51	'
Fair Value @ September 30, 2013	853,450	'
Option 3	'	'
Expiration Date	27-Feb-18	'
Number of Warrants	4,429,687	'
Weighted Average Exercise Price	0.62	'
Fair Value @ September 30, 2013	1,679,517	'
Option 4	'	'
Expiration Date	5-Mar-15	'
Number of Warrants	1,253,000	'
Weighted Average Exercise Price	0.51	'
Fair Value @ September 30, 2013	238,829	'
Option 5	'	'
Expiration Date	5-Mar-18	'
Number of Warrants	1,253,000	'
Weighted Average Exercise Price	0.62	'
Fair Value @ September 30, 2013	475,075	'
Option 6	'	'
Expiration Date	11-Mar-15	'
Number of Warrants	343,750	'
Weighted Average Exercise Price	0.51	'
Fair Value @ September 30, 2013	70,125	'
Option 7	'	'
Expiration Date	11-Mar-18	'
Number of Warrants	343,750	'
Weighted Average Exercise Price	0.62	'
Fair Value @ September 30, 2013	130,333	'
Option 8	'	'
Expiration Date	8-Aug-18	'
Number of Warrants	755,794	'
Weighted Average Exercise Price	0.61	'
Fair Value @ September 30, 2013	316,375	'
Option 9	'	'
Expiration Date	20-Sep-18	'
Weighted Average Exercise Price	0.57	'
Fair Value @ September 30, 2013	42,593	'

7_Capital_Stock_Details_Narrat

7. Capital Stock (Details Narrative) (CAD)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Private placement units issued	108,696	'	11,471,196	'
Private placement units issued price per unit	0.47	'	0.41	'
Directors purchased units	'	'	6,046,196	'
'Gross proceeds from directors	'	'	2,412,147	'
Cash commissions paid	'	'	252,101	'
Options granted to officers and employees	167,000	30,000	1,173,250	275,000
Options issued	'	'	286,250	'
Exercise price of options	'	'	0.4	'
Expected dividend yield	'	'	0.00%	'
Expected volatility	'	'	123.00%	'
Risk free interest rate	'	'	1.49%	'
Expected term	'	'	'5 years	'
Compensation expense for options issued	138,513	139,909	428,482	460,332
Number of options issued terminated	'	'	65,000	'
Series A Warrant[Member]	'	'	'	'
Private placement units issued	'	'	6,026,438	'
Private placement units issued price per unit	'	'	0.51	'
Series B [Member]	'	'	'	'
Private placement units issued	'	'	6,026,437	'
Private placement units issued price per unit	'	'	0.62	'

8_Loss_Per_Share_Details

8. Loss Per Share (Details) (CAD)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Numerator:	'	'	'	'
Net (loss) earnings available to common shareholders	-2,583,576	-718,640	-6,286,035	-2,076,410
Weighted average number of common shares	50,985,538	39,610,042	48,525,136	39,018,801
Effect of dilutive common shares	'	'	'	'
Diluted weighted average number of common shares outstanding	50,985,538	39,610,042	48,525,136	39,018,801
Income (loss) per share - basic and diluted	-0.05	-0.02	-0.13	-0.05

8_Loss_Per_Share_Details_Narra

8. Loss Per Share (Details Narrative)	Sep. 30, 2013	Sep. 30, 2012
Notes to Financial Statements	'	'
Outstanding stock options	4,350,752	3,202,502
Outstanding warrant grants	13,667,365	2,250,000

9_Statement_of_Cash_Flows_Deta

9. Statement of Cash Flows (Details) (CAD)	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Notes to Financial Statements	'	'
Accounts receivable	-103,781	-444,232
Inventories	-141,943	111,182
Prepaid expenses and other receivables	-284,271	-224,855
Taxes recoverable	-283,926	-7,203
Accounts payable and accrued liabilities	-1,815,265	315,615
Change in non-cash operating assets and liabilities	2,629,186	249,493

Contingencies_and_Commitments_

Contingencies and Commitments (Details Narrative) (CAD)	9 Months Ended
	Sep. 30, 2013
Licence fees	200,000
Payment to company	400,000
Sales milestones payments	250,000
Aggregate net sales in increments	5,000,000
Remuneration to executive	952,200
Minimum [Member]	'
Royalties payable rates	20.00%
Maximum [Member]	'
Royalties payable rates	25.00%

11_Significant_Customers_Detai

11. Significant Customers (Details Narrative)	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Risk percentage	57.90%	54.30%
Concentration Risk, Customer	'2	'2
Major customer	'	'
Risk percentage	58.70%	54.40%
Concentration Risk, Customer	'2	'2

12_Related_Party_Transactions_

12. Related Party Transactions (Details Narrative) (CAD)	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Notes to Financial Statements	'	'
Related Party, consulting services	6,000	42,000

13_Income_Taxes_Details_Narrat

13. Income Taxes (Details Narrative) (CAD)	9 Months Ended
	Sep. 30, 2013
Non-capital loss carry-forwards	9,500,000
Carry-forward expenditures offset against future taxable income	1,798,300
Tax credits, non-refundable	341,300
Minimum [Member]	'
Loss Carryforwards Expiration Dates	'2014
Maximum [Member]	'
Loss Carryforwards Expiration Dates	'2033

14_Segmented_Information_Detai

14. Segmented Information (Details) (CAD)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Product sales:	'	'	'	'
Other revenue	9,702	13,565	32,554	38,450
Total	3,380,246	3,213,499	10,034,434	9,004,715
Domestic Sales	'	'	'	'
Product sales:	'	'	'	'
Product Sales	3,022,993	2,830,118	8,964,777	7,773,046
International Sales	'	'	'	'
Product sales:	'	'	'	'
Product Sales	347,551	369,816	1,037,103	1,193,219

14_Segmented_Information_Detai1

14. Segmented Information (Details 1) (CAD)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Royalty revenue:	'	'	'	'
Royalty revenues	99,884	0	197,924	0
Total royalty revenues	99,884	0	197,924	0

15_Foreign_Currency_Gain_Loss_

15. Foreign Currency Gain (Loss) (Details Narrative) (CAD)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Notes to Financial Statements	'	'	'	'
Foreign currency (gain) loss	-20,060	184,319	76,204	105,281