Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Mar. 29, 2014 | 16-May-14 | |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 29-Mar-14 | ' |
Trading Symbol | 'crlrf | ' |
Entity Registrant Name | 'CRAILAR TECHNOLOGIES INC | ' |
Entity Central Index Key | '0001210294 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 50,679,097 |
Entity Current Reporting Status | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Well Known Seasoned Issuer | 'No | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q1 | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Mar. 29, 2014 | Dec. 28, 2013 |
Current Assets | ' | ' |
Cash and cash equivalents | $3,867,218 | $1,193,365 |
Accounts receivable | 785,218 | 223,105 |
Inventory | 876,238 | 945,040 |
Prepaid expenses and deposits | 451,568 | 290,872 |
Total Current Assets | 5,980,242 | 2,652,382 |
Deferred Debt Issuance Costs | 1,333,895 | 1,442,023 |
Property and Equipment, net | 17,650,131 | 17,240,012 |
Intangible Assets, net | 157,604 | 155,545 |
Total Assets | 25,121,872 | 21,489,962 |
Current Liabilities | ' | ' |
Accounts payable | 2,711,204 | 2,377,901 |
Accrued liabilities | 2,677,731 | 2,342,153 |
Unearned revenue | 239,226 | 247,655 |
Notes payable | 532,036 | 476,614 |
Current portion of loans payable | 615,088 | 634,486 |
Current portion of long term debt | 60,467 | 0 |
Total Current Liabilities | 6,835,752 | 6,078,809 |
Deferred Income Tax Liability | 198,869 | 199,131 |
Loans Payable | 514,202 | 551,190 |
Long Term Debt | 18,300,961 | 16,674,686 |
Total Liabilities | 25,849,784 | 23,503,816 |
STOCKHOLDERS' DEFICIT | ' | ' |
Capital Stock Authorized: 100,000,000 common shares without par value Issued and outstanding: 50,679,097 common shares (December 28, 2013 - 47,806,031 common shares) | 38,100,356 | 34,889,370 |
Additional Paid-in Capital | 10,004,951 | 9,934,322 |
Accumulated Other Comprehensive Income | 1,165,425 | 585,301 |
Stockholders' Deficit | -11,485,251 | -11,485,251 |
Stockholders' Deficit Accumulated in the Development Stage | -38,513,393 | -35,937,596 |
Total Stockholders Equity | -727,912 | -2,013,854 |
Total Liabilities and Stockholders Equity | $25,121,872 | $21,489,962 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Mar. 29, 2014 | Dec. 28, 2013 |
Common Stock, Shares Authorized | 100,000,000 | 100,000,000 |
Common Stock, No Par Value | ' | ' |
Common Stock, Shares, Issued | 50,679,097 | 47,806,031 |
Common Stock, Shares, Outstanding | 50,679,097 | 47,806,031 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 3 Months Ended | 54 Months Ended | |
Mar. 29, 2014 | Mar. 30, 2013 | Mar. 29, 2014 | |
Revenues | $435,450 | $0 | $1,022,675 |
Cost of sales | ' | ' | ' |
Materials and direct product production costs | 359,647 | 0 | 829,762 |
Production facility overhead costs | 98,235 | 0 | 98,235 |
Facility commissioning costs | 251,825 | 0 | 2,148,647 |
Depreciation | 103,851 | 0 | 784,690 |
Impairment loss on inventory | 0 | 0 | 4,642,262 |
Total Cost of Sales | 813,558 | 0 | 8,503,596 |
Gross loss | -378,108 | 0 | -7,480,921 |
Expenses | ' | ' | ' |
Marketing and promotion | 82,670 | 199,359 | 1,677,145 |
Amortization and depreciation | 24,140 | 51,937 | 584,558 |
General and administrative | 1,235,197 | 2,288,781 | 22,171,257 |
Total Expenses | 1,342,007 | 2,540,077 | 24,432,960 |
Loss before other items | -1,720,115 | -2,540,077 | -31,913,881 |
Other income (expenses) | ' | ' | ' |
Accretion expense | -262,452 | 0 | -389,977 |
Research and development | -52,597 | -56,270 | -2,647,713 |
Gain on disposal of assets | 0 | 0 | 790 |
Interest | -540,633 | -311,525 | -2,868,508 |
Write-off of equipment | 0 | 0 | -704,516 |
Impairment loss on inventory | 0 | -396,377 | -303,663 |
Fair value adjustment derivative liabilities | 0 | 73,979 | -113,011 |
Bargain purchase | 0 | 0 | 425,909 |
Other | 0 | 0 | 1,177 |
Total Other Income (Expense) | -855,682 | -690,193 | -6,599,512 |
Net loss | -2,575,797 | -3,230,270 | -38,513,393 |
Other comprehensive income | ' | ' | ' |
Exchange differences on translating to presentation currency | 580,124 | 197,980 | 1,165,425 |
Comprehensive loss | ($1,995,673) | ($3,032,290) | ($37,347,968) |
Net loss per share (basic and diluted) | ($0.05) | ($0.08) | ' |
Weighted average number of common shares outstanding | 48,188,001 | 43,029,135 | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 3 Months Ended | 54 Months Ended | |
Mar. 29, 2014 | Mar. 30, 2013 | Mar. 29, 2014 | |
Cash flows used in operating activities | ' | ' | ' |
Net loss | ($2,575,797) | ($3,230,270) | ($38,513,393) |
Adjustments to reconcile net loss to net cash from operating activities | ' | ' | ' |
Accretion expense | 262,452 | 0 | 389,977 |
Amortization and depreciation | 127,991 | 293,691 | 1,369,248 |
Amortization of deferred debt issuance costs | 106,306 | 85,531 | 543,315 |
Fair value adjustment of derivative liability | 0 | -73,979 | 113,011 |
Gain on disposal of assets | 0 | 0 | -790 |
Rent | -8,214 | 36,519 | 263,161 |
Stock-based compensation | 70,629 | 555,273 | 8,213,585 |
Write-off of equipment | 0 | 0 | 704,516 |
Impairment of inventory | 0 | 396,377 | 4,945,925 |
Bargain purchase | 0 | 0 | 425,909 |
Gain on foreign exchange | 0 | 0 | -71,990 |
Changes in working capital assets and liabilities | ' | ' | ' |
(Increase) decrease in accounts receivable | -598,882 | 18,572 | -680,990 |
Decrease (increase) in inventory | 32,268 | -106,151 | -5,858,697 |
(Increase) in prepaid expenses | -207,774 | -111,609 | -428,521 |
Increase in accounts payable | 233,303 | 253,839 | 2,342,008 |
Increase in unearned revenue | 0 | 0 | 247,655 |
Increase (decrease) in accrued liabilities | 343,792 | -772,149 | 1,798,290 |
Increase in loan payable | 6,261 | 0 | 63,206 |
Net cash used in operating activities | -2,207,665 | -2,654,356 | -24,134,575 |
Cash flows used in investing activities | ' | ' | ' |
Sale of equipment | 0 | 0 | 35,790 |
Acquisition of property and equipment | -553,642 | -1,895,353 | -18,100,872 |
Acquisition of intangible assets | -20,637 | -2,131 | -214,812 |
Net cash flows used in investing activities | -574,279 | -1,897,484 | -18,279,894 |
Cash flows used in financing activities | ' | ' | ' |
Issuance of capital stock and warrants | 0 | 192,873 | 22,203,727 |
Net proceeds from loans | 2,136,338 | 0 | 2,557,347 |
Proceeds from private placement | 3,079,242 | 0 | 4,958,642 |
Proceeds from convertible debenture | 0 | 4,713,238 | 18,358,511 |
Deferred issuance costs for convertible debenture | -11,140 | -481,962 | -1,981,809 |
Related party payments | 0 | 0 | -1,025,960 |
Net cash flows from financing activities | 5,204,440 | 4,424,149 | 45,070,458 |
Effect of exchange rate changes on cash and cash equivalents | 251,357 | 197,980 | 157,782 |
Increase (decrease) in cash and cash equivalents | 2,673,853 | 70,289 | 2,813,771 |
Cash and cash equivalents, beginning of period | 1,193,365 | 2,877,210 | 1,053,447 |
Cash and cash equivalents, end of period | 3,867,218 | 2,947,499 | 3,867,218 |
SUPPLEMENTAL CASH FLOW INFORMATION AND NON-CASH FINANCING AND INVESTING ACTIVITIES: | ' | ' | ' |
Cash paid for interest | 6,261 | 277,397 | 0 |
Capital stock issued as share issue costs | $131,744 | $0 | $0 |
Basis_of_Presentation
Basis of Presentation | 3 Months Ended |
Mar. 29, 2014 | |
Basis of Presentation [Text Block] | ' |
1. Basis of Presentation | |
These unaudited consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles for interim financial reporting and the rules and regulations of the Securities and Exchange Commission. They do not include all information and footnotes required by United States generally accepted accounting principles (“U.S. GAAP”) for complete financial statement disclosure. Operating results for the thirteen week period ended March 29, 2014 are not necessarily indicative of the results that may be expected for the year ending December 27, 2014. These interim unaudited consolidated financial statements should be read in conjunction with the information included in the Company’s Form 10-K filed on March 28, 2014 with the U.S. Securities and Exchange Commission. | |
Effective fiscal 2013, the Company began to report quarterly results on a 4-4-5 basis, with the quarter ending on the Saturday closest to the last day of each third month. In fiscal 2014, the Company's first quarter ended on March 29, 2014, the second quarter will end on June 28, 2014, the third quarter will end on September 27, 2014 and the fourth quarter will end on December 27, 2014. | |
In the opinion of management, the accompanying interim balance sheet and related interim statement of operations and cash flows include all adjustments, consisting only of normal recurring items, necessary for their fair presentation in conformity with U.S. GAAP. Preparing financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses. Actual results and outcomes may differ from management’s estimates and assumptions. | |
The Company’s consolidated financial statements are prepared using U.S. GAAP applicable to a going concern, which contemplates the realization of assets and payment of liabilities in the normal course of business. The Company has incurred losses since inception of $49,998,644 and further losses are anticipated in the development of its business. There can be no assurance that the Company will be able to achieve or maintain profitability. At March 29, 2014 there is a working capital deficiency of $855,510 and future operations are dependent on raising additional funding from debt or equity financings. These factors raise substantial doubt as to the Company's ability to continue as a going concern. | |
The Company evaluated events occurring between March 29, 2014 and the date financial statements were issued. | |
Recent accounting pronouncements with future effective dates are not expected to have an impact on the Company’s financial statements. |
Inventory
Inventory | 3 Months Ended | ||||||
Mar. 29, 2014 | |||||||
Inventory [Text Block] | ' | ||||||
2. Inventory | |||||||
29-Mar-14 | 28-Dec-13 | ||||||
CRAiLAR fiber | $ | 163,061 | $ | 186,464 | |||
Decorticated fiber | 296,075 | 252,263 | |||||
Raw flax fiber feedstock | 249,218 | 369,590 | |||||
Other | 167,884 | 136,723 | |||||
$ | 876,238 | $ | 945,040 |
Property_and_Equipment
Property and Equipment | 3 Months Ended | ||||||||||||
Mar. 29, 2014 | |||||||||||||
Property and Equipment [Text Block] | ' | ||||||||||||
3. Property and Equipment | |||||||||||||
Accumulated | Net Book Value | Net Book Value | |||||||||||
Cost | Amortization | 29-Mar-14 | 28-Dec-13 | ||||||||||
Automobiles | $ | 58,745 | $ | 8,876 | $ | 49,869 | $ | 49,867 | |||||
Computer equipment | 126,835 | 71,760 | 55,074 | 57,180 | |||||||||
Equipment | 542,044 | 104,503 | 437,541 | 443,105 | |||||||||
Equipment held for sale | 70,000 | - | 70,000 | 70,000 | |||||||||
Furniture and fixtures | 61,082 | 37,219 | 23,863 | 25,421 | |||||||||
Leasehold improvements | 6,380,332 | 617,377 | 5,762,955 | 5,711,874 | |||||||||
Production equipment | 5,395,625 | 379,973 | 5,015,652 | 4,818,280 | |||||||||
Production equipment in construction | 6,232,640 | - | 6,232,640 | 6,060,849 | |||||||||
Website development costs | 117,254 | 114,718 | 2,537 | 3,436 | |||||||||
$ | 18,894,555 | $ | 1,334,425 | $ | 17,650,131 | $ | 17,240,012 | ||||||
During the thirteen week period ended March 29, 2014, the Company recorded $12,468 (thirteen week period ended March 30, 2013 - $37,804) to amortization and depreciation expense, $103,851 (thirteen week period ended March 30, 2013 - $nil) to cost of goods sold and $nil (thirteen week period ended March 30, 2013 - $241,754) to general and administrative expense as production costs. |
Intangible_Assets
Intangible Assets | 3 Months Ended | ||||||||||||
Mar. 29, 2014 | |||||||||||||
Intangible Assets [Text Block] | ' | ||||||||||||
4. Intangible Assets | |||||||||||||
Accumulated | Net Book Value | Net Book Value | |||||||||||
Cost | Amortization | 29-Mar-14 | 28-Dec-13 | ||||||||||
Patents | $ | 169,974 | $ | 77,978 | $ | 91,996 | $ | 85,482 | |||||
Trademarks | 118,633 | 91,556 | 27,077 | 28,065 | |||||||||
License fee | 61,912 | 23,381 | 38,531 | 41,998 | |||||||||
$ | 350,519 | $ | 192,915 | $ | 157,604 | $ | 155,545 | ||||||
During the thirteen week period ended March 29, 2014, the Company recorded $11,672 (thirteen week period ended March 30, 2013 - $14,133) to amortization and depreciation expense. |
Long_term_debt
Long term debt | 3 Months Ended | ||||||
Mar. 29, 2014 | |||||||
Long term debt [Text Block] | ' | ||||||
5. Long Term Debt Long term debt: | |||||||
29-Mar-14 | 28-Dec-13 | ||||||
Convertible debentures | |||||||
Balance, beginning | $ | 16,674,686 | $ | 10,051,262 | |||
Convertible debentures issued | - | 8,307,249 | |||||
Discount on debentures | - | (754,829 | ) | ||||
Amendment of debentures – conversion price | - | (79,931 | ) | ||||
Accretion expense | 60,147 | 94,030 | |||||
Effect of foreign exchange | (565,819 | ) | (943,095 | ) | |||
Balance, ending | 16,169,014 | 16,674,686 | |||||
IKEA Loan | |||||||
Balance, beginning | - | - | |||||
Loan issued | 2,197,153 | - | |||||
Effect of foreign exchange | (4,739 | ) | - | ||||
Balance, ending | 2,192,414 | - | |||||
Long term debt – long term | 18,361,428 | 16,674,686 | |||||
Less: current portion | 60,467 | - | |||||
$ | 18,300,961 | $ | 16,674,686 | ||||
Deferred issuance costs: | |||||||
29-Mar-14 | 28-Dec-13 | ||||||
Balance, beginning | $ | 1,442,023 | $ | 1,024,294 | |||
Issuance costs - cash | 48,218 | 800,910 | |||||
Issuance costs – warrants | - | 66,278 | |||||
Issuance costs allocated to additional paid in capital | - | (102,670 | ) | ||||
Amortization of issuance costs | (106,306 | ) | (346,789 | ) | |||
Effect of foreign exchange | (50,040 | ) | - | ||||
$ | 1,333,895 | $ | 1,442,023 | ||||
Convertible Debentures | |||||||
On September 20, 2012, the Company completed the offering of $10,051,262 (CAD$10,000,000) convertible debentures (the “September 2012 Debentures”). The September 2012 Debentures mature on September 20, 2017. The September 2012 Debentures bear interest at a rate of 10% per year, payable semi-annually on March 31 and September 30, starting March 31, 2013. As at March 29, 2014, accrued interest of $446,992 (CAD$493,151) (March 30, 2013 - $524,182 (CAD$523,972)) was included in accrued liabilities. | |||||||
On February 26, 2013, the Company completed an offering of $4,943,643 (CAD$5,000,000) convertible debentures (the “February 2013 Debentures”). The February 2013 Debentures mature on September 30, 2017. The February 2013 Debentures bear interest at a rate of 10% per year, payable semi-annually on March 31 and September 30, starting September 30, 2013. As at March 29, 2014, accrued interest of $223,521 (CAD$246,575) was included in accrued liabilities. The Company paid a total of $427,049 (CAD$487,830) in cash issuance costs which have been recorded as deferred debt issuance costs. | |||||||
Holders of the September 2012 Debentures and February 2013 Debentures have the option to convert the convertible debentures into shares of the Company’s common stock at a price of $2.85 (CAD$2.90) per common share at any time prior to the maturity date. The Company may redeem the September 2012 Debentures and the February 2013 Debentures after September 30, 2015 provided that the market price at the time of the redemption notice is not less than 125% of the conversion price. The conversion price is subject to standard anti-dilution provisions. | |||||||
The September 2012 Debentures and February 2013 Debentures are secured by a Guaranty and Security Agreement signed with the Company’s wholly-owned subsidiary, Crailar Inc. (“CI”), a Nevada incorporated company. CI has provided a security interest over its assets, having an aggregate acquisition cost of no less than $5,500,000, as security for its guarantee obligation which shall rank in priority to all other indebtedness of CI. | |||||||
The September 2012 Debentures and February 2013 Debentures do not contain a beneficial conversion feature, as the fair value of the Company’s common stock on the date of issuance was less than the conversion price. All proceeds from the debentures were recorded as a debt instrument. | |||||||
On July 26, 2013, the Company closed a convertible debenture offering for gross proceeds of $3,363,606 (CAD$3,535,000) (the “July 2013 Debentures”). The July 2013 Debentures will mature on July 26, 2016 and will accrue interest at a rate of 10% per year, payable semi-annually on March 31 and September 30 commencing September 30, 2013. In the event the Company completes one or more equity financings between July 26, 2013 and July 26, 2016 with gross proceeds of at least an aggregate of $19.4 million (CAD$20.0 million), the Company must, subject to providing no less than 60 days prior notice to each holder of the July 2013 Debentures, redeem the July 2013 Debentures in whole at face value plus all accrued and unpaid interest thereon. As at March 29, 2014, accrued interest of $158,029 (CAD$174,329) was included in accrued liabilities. At the holder’s option, the debentures may be converted into common shares at any time up to the earlier of the maturity date and the business day immediately preceding the date specified by the Company for redemption of the debentures. The conversion price is CAD$1.25 per share. | |||||||
In addition, in connection with the July 2013 Debentures, the Company issued 800 transferable common share purchase warrants (each, a “Warrant”) for each $904 (CAD$1,000) of principal amount, resulting in the issuance of an aggregate of 2,828,000 Warrants, with each Warrant entitling the holder thereof to purchase one additional common share (each, a “Warrant Share”) at an exercise price of $2.00 per Warrant Share until July 26, 2016. The Company determined the fair value of the Warrants to be $974,387 (CAD$1,003,910) using the Black-Scholes Option Pricing Model with the following assumptions: expected dividend yield – 0; expected stock price volatility – 56%; risk-free interest rate – 0.59%; expected life – 2.83 years. | |||||||
The proceeds were allocated to the July 2013 Debentures and the Warrants based on their relative fair values and, accordingly, $2,295,309 (CAD$2,757,300) was allocated to the July 2013 Debentures and $754,829 (CAD$777,700) was allocated to the Warrants and recorded as a reduction in the July 2013 Debentures and an increase in additional paid-in capital. | |||||||
The Company incurred a total of $440,139 in issuance and commission costs relating to the July 2013 Debentures. This included $373,861 in cash issuance costs and the fair value of warrants to purchase 192,360 common shares issued to a finder of $66,278. The warrants entitle the holder to purchase common shares for $1.25 per share for three years from the date of issuance. The fair value of the warrants was calculated using the Black-Scholes Option Pricing Model with the following assumptions: expected dividend yield – 0 ; expected stock price volatility – 56%; risk-free interest rate – 0.59%; expected life – 2.83 years. The allocation of the July 2013 Debentures issuance costs were based on the relative fair value of the July 2013 Debentures and the Warrants and, accordingly, $337,469 was allocated to deferred debt issuance costs and $102,670 was allocated to additional paid-in capital during the year ended December 28, 2013. | |||||||
The July 2013 Debentures included a continuing security interest in certain of the Company’s assets pursuant to a Guaranty and Security Agreement. On December 17, 2013 the Guaranty and Security Agreement was amended to only provide a security interest in certain specific assets held by the Company which had an acquisition cost of $3,922,240. As consideration for the modification, the conversion price of the debentures was amended to $1.21 (CAD$1.25) per share. The Company determined the fair value of the additional debt discount to be $79,931 using the Black-Scholes Option Pricing Model with the following assumptions: expected dividend yield – 0 ; expected stock price volatility – 56%; risk-free interest rate – 0.59%; expected life – 2.42 years. | |||||||
During the thirteen week period ended March 29, 2014, the Company recorded amortization of the July 2013 Debentures debt discount in the amount of $60,147, which was included in interest expense. | |||||||
During the thirteen week period ended March 29, 2014, the Company recorded $101,576 (thirteen week period ended March 30, 2013 - $85,531) in interest expense for the amortization of deferred issuance costs. | |||||||
IKEA Supply AG Loan | |||||||
During the thirteen week period ended March 29, 2014, the Company received $2,197,153 (€1,597,000) pursuant to a loan agreement entered into with IKEA Supply AG (“IKEA”) with an effective date of November 29, 2013. The loan bears an interest rate of 1.9% per annum and is payable in monthly installments of $15,118 (€11,000) from December 20, 2014 through June 20, 2016 with the remainder due in full on June 25, 2016. IKEA agreed to loan the Company $3,028,300 (€2,190,000), leaving $831,147 (€593,000) as an unused credit facility. The loan is secured by assets purchased with the proceeds, as well as a portion of the secured assets used to secure the July 2013 Debentures. As at March 29, 2014, accrued interest of $8,255 (CAD$9,087) was included in accrued liabilities. | |||||||
The Company incurred a total of $48,218 in issuance costs related to the IKEA loan. This included $37,079 in costs paid during the year ended December 28, 2013 and $11,140 paid during the thirteen week period ended March 29, 2014. During the thirteen week period ended March 29, 2014, the Company recorded $4,730 (thirteen week period ended March 30, 2013 - $nil) in accretion expense for the amortization of deferred issuance costs. |
Notes_Payable
Notes Payable | 3 Months Ended | ||||||
Mar. 29, 2014 | |||||||
Notes Payable [Text Block] | ' | ||||||
6. Notes Payable | |||||||
29-Mar-14 | 28-Dec-13 | ||||||
Balance, beginning | $ | 476,614 | $ | - | |||
Principal | - | 655,804 | |||||
Interest | 27,927 | 23,781 | |||||
Repayment | - | (48,326 | ) | ||||
Beneficial conversion feature | - | (188,140 | ) | ||||
Accretion expense – beneficial conversion feature | 150,372 | 33,495 | |||||
Bonus shares issued | (131,744 | ) | - | ||||
Accretion expense – bonus shares issued | 24,006 | - | |||||
Effect of foreign exchange | (15,139 | ) | - | ||||
$ | 532,036 | $ | 476,614 | ||||
On October 11, 2013, the Company issued a convertible promissory note in favor of Mr. Jason Finnis, one of its directors, in the principal amount of $96,180 (CDN$100,000). The promissory note is unsecured and accrues interest on the principal amount at the rate of 12% per annum, which interest is payable in full on repayment of the principal amount. On November 7, 2013, the company repaid Mr. Finnis $48,326 (CDN$50,000) of principal including interest of $441 (CDN$460). At March 29, 2014, the outstanding balance, including accrued interest, was $47,869. | |||||||
On October 11, 2013, the Company issued a convertible promissory note in favor of Mr. Kenneth Barker, one of its directors, in the principal amount of $50,000. The promissory note is unsecured and accrues interest on the principal amount at the rate of 12% per annum, which interest is payable in full on repayment of the principal amount. At March 29, 2014, the outstanding balance, including accrued interest, was $52,753. | |||||||
On October 11, 2013, the Company issued a demand convertible promissory note in favor of Mr. Robert Edmunds, one of its directors, in the principal amount of $467,369 (CDN$500,000). On December 4, 2013, the Company issued an additional demand convertible promissory note in favor of Mr. Edmunds, pursuant to a loan from Mr. Edmunds to the Company in the principal amount of $42,255 (CDN$45,000). The promissory notes are unsecured and accrue interest on the principal amount at a rate of 20% per annum, which interest is payable in full on repayment of the principal amount. In connection with the amendment of such convertible promissory notes, 181,666 bonus common shares of the Company were issued to Mr. Edmunds on January 30, 2014 with a fair value of $131,744. The value of the shares will be amortized over the term of the loan. During the thirteen week period ended March 29, 2014, the Company recorded $24,006 in interest expense relating to the amortization of the value of the bonus shares. At March 29, 2014, the outstanding balance of the loan, including accrued interest, was $431,414. | |||||||
The promissory notes issued to our directors during the year ended December 28, 2013 contain conversion features. Each lender has the right to convert any portion of the outstanding principal and interest payable for units at a conversion price of $0.60 per unit. Each unit is comprised of one common share and one common share purchase warrant of the Company. Each warrant entitles the holder to acquire one common share of the Company at an exercise price of CAD$0.70 per common share for a term of five years. The Company recognized a beneficial conversion feature of $188,140 (CAD$200,000) based on the excess of the fair value of the common stock over the conversion price. During the thirteen week period ended March 29, 2014, the Company amended the loans and removed the beneficial conversion feature. The Company incurred an accretion expense of $150,372 during the thirteen week period ended March 29, 2014, reducing the balance of the beneficial conversion feature to $nil. | |||||||
The promissory notes issued to our directors during the year ended December 28, 2013 mature on the earliest of December 20, 2014 or at such time the Company completes a public offering of registered securities of not less than $2,712,000 (CAD$3,000,000) in gross proceeds pursuant to a registration statement on Form S-1. |
Capital_Stock
Capital Stock | 3 Months Ended | |||||
Mar. 29, 2014 | ||||||
Capital Stock [Text Block] | ' | |||||
7. Capital Stock | ||||||
During the thirteen week period ended March 29, 2014, the Company issued shares as follows: | ||||||
a. | The Company completed a private placement on March 20, 2014 of 2,515,000 units at $1.25 per unit for gross proceeds of $3,143,750. Each unit is comprised of one common share and one-half of one transferable common share purchase warrant of the Company. Each warrant entitles the holder thereof to acquire one common share of the Company at an exercise price of $1.75 per common share for a term of 2 years. In addition, finder’s fees of an aggregate of 176,400 shares were issued to two finders in conjunction with the closing of this private placement. | |||||
b. | The Company issued 181,666 common shares with a fair value of $131,744 as a bonus on an amendment of promissory notes issued to one of our directors. Refer to Note 6 . | |||||
Share purchase warrants outstanding as at March 29, 2014 are: | ||||||
Warrants | Weighted-Average Exercise Price | |||||
Warrants outstanding, December 28, 2013 | 6,887,580 | $1.15 | ||||
Warrants issued | 1,257,500 | $1.75 | ||||
Warrants outstanding, March 29, 2014 | 8,145,080 | $1.25 | ||||
The weighted average remaining contractual life of outstanding warrants at March 29, 2014 is 3.14 years. | ||||||
Stock options outstanding as at March 29, 2014 are: | ||||||
Shares | Weighted-Average Exercise Price | |||||
Options outstanding, December 28, 2013 | 6,468,799 | $1.80 | ||||
Options granted | 1,553,000 | 1.36 | ||||
Options cancelled/expired | -67,504 | 2.24 | ||||
Options outstanding, March 29, 2014 | 7,954,295 | $1.71 | ||||
Options exercisable, March 29, 2014 | 6,413,795 | $1.80 | ||||
Stock options outstanding at March 29, 2014 are summarized as follows: | ||||||
Weighted Average | Weighted | |||||
Range of Exercise | Number | Remaining Contractual | Weighted Average | Number | Average | |
Prices | Outstanding | Life (yr) | Exercise Price | Exercisable | Exercise Price | |
$0.87 - $3.05 | 7,971,799 | 2.74 | $1.71 | 6,421,300 | $1.80 | |
During the thirteen week period ended March 29, 2014, options to purchase 62,502 (thirteen week period ended March 30, – 489,042) common shares vested under the Company’s amended 2011 Fixed Share Option Plan. A total expense of $70,629 (thirteen week period ended March 30, 2013 - $555,273) was recorded as stock-based compensation, of which $nil (thirteen week period ended March 30, 2013 - $77,939) was included in consulting and contract labour expense and $70,629 (thirteen week period ended March 30, 2013 - $477,334) was included in salaries and benefits expense. | ||||||
The fair value of options granted during the thirteen week period ended March 29, 2014 was determined using the Black-Scholes option pricing model with the following assumptions: | ||||||
Risk-free interest rates | 0.63% to 0.70% | |||||
Volatility factor | 73% to 88% | |||||
Expected life of options, in years | 3 - 4.2 | |||||
The weighted average fair value of the options granted during the thirteen week period ended March 29, 2014 is $0.73. |
Business_Combination
Business Combination | 3 Months Ended | |||
Mar. 29, 2014 | ||||
Business Combination [Text Block] | ' | |||
8. Business Combination | ||||
On December 1, 2013, the Company acquired certain assets of Schrurs NV, a textile company located in Ieper, Belgium, by means of an asset purchase agreement. The assets purchased include all of the production equipment, computer equipment and the rights to all of the employee contracts related to a production facility in Ieper, Belgium. The purchase price of the assets of Schrurs NV was settled by the Company assuming outstanding debt of $1,172,081 (€861,551). The general decline in the textile business in Europe had left assets available at a favorable price for the Company. This acquisition resulted in a bargain purchase gain of $425,909 as follows: | ||||
Fair value of assets acquired | $ | 1,797,121 | ||
Fair value of debt assumed | (1,172,081 | ) | ||
Deferred income tax liability | (199,131 | ) | ||
Bargain purchase gain | $ | 425,909 | ||
Under the terms of the asset purchase agreement, for a term of five years from the closing date of December 1, 2013, the repayment of the debt assumed by the Company shall be made in accordance with the terms of such debts and / or the repayment terms agreed upon between the seller and the respective creditors of the seller’s debts. On the fifth anniversary of the closing date, the aggregate outstanding amount under the seller’s debts at that point in time shall be repaid in whole by the Company to the respective creditors of the seller’s debts. During the thirteen week period ended March 29, 2014, the Company made payments of $60,815 on the principal and accrued interest of $6,261. | ||||
At March 29, 2014, the debt assumed consists of the following, including a foreign exchange effect of $1,832 : | ||||
Bank line of credit, bearing interest at 3.25% repayable June 25, 2014 | $ | 299,730 | ||
Bank term loans, bearing interest ranging from 3.1% to 4.55% repayable between September 2014 and December 2018 | 670,062 | |||
Loan payable on demand bearing interest at 4% per annum | 90,777 | |||
Loan payable on demand bearing no interest | 68,721 | |||
1,129,290 | ||||
Less: current portion | 615,088 | |||
$ | 514,202 | |||
All of the above debt is denominated in Euros; the table above reflects applicable amounts in US dollars. |
Related_Parties_Transactions
Related Parties Transactions | 3 Months Ended |
Mar. 29, 2014 | |
Related Parties Transactions [Text Block] | ' |
9. Related Party Transactions | |
During the thirteen week period ended March 29, 2014, $217,040 (thirteen week period ended March 30, 2013 - $419,271) was incurred for remuneration to officers and directors of the Company. | |
Refer to Note 6. |
Subsequent_Events
Subsequent Events | 3 Months Ended |
Mar. 29, 2014 | |
Subsequent Events [Text Block] | ' |
10. Subsequent Events | |
On March 31, 2014, the Company received $210,237 (€152,900) pursuant to the loan agreement entered into with IKEA (Note 5). | |
During April 2014, the Company repaid in full the promissory notes issued to three of its directors, including the accrued interest thereon (Note 6). |
Inventory_Tables
Inventory (Tables) | 3 Months Ended | ||||||
Mar. 29, 2014 | |||||||
Schedule of Inventory, Current [Table Text Block] | ' | ||||||
29-Mar-14 | 28-Dec-13 | ||||||
CRAiLAR fiber | $ | 163,061 | $ | 186,464 | |||
Decorticated fiber | 296,075 | 252,263 | |||||
Raw flax fiber feedstock | 249,218 | 369,590 | |||||
Other | 167,884 | 136,723 | |||||
$ | 876,238 | $ | 945,040 |
Property_and_Equipment_Tables
Property and Equipment (Tables) | 3 Months Ended | ||||||||||||
Mar. 29, 2014 | |||||||||||||
Property, Plant and Equipment [Table Text Block] | ' | ||||||||||||
Accumulated | Net Book Value | Net Book Value | |||||||||||
Cost | Amortization | 29-Mar-14 | 28-Dec-13 | ||||||||||
Automobiles | $ | 58,745 | $ | 8,876 | $ | 49,869 | $ | 49,867 | |||||
Computer equipment | 126,835 | 71,760 | 55,074 | 57,180 | |||||||||
Equipment | 542,044 | 104,503 | 437,541 | 443,105 | |||||||||
Equipment held for sale | 70,000 | - | 70,000 | 70,000 | |||||||||
Furniture and fixtures | 61,082 | 37,219 | 23,863 | 25,421 | |||||||||
Leasehold improvements | 6,380,332 | 617,377 | 5,762,955 | 5,711,874 | |||||||||
Production equipment | 5,395,625 | 379,973 | 5,015,652 | 4,818,280 | |||||||||
Production equipment in construction | 6,232,640 | - | 6,232,640 | 6,060,849 | |||||||||
Website development costs | 117,254 | 114,718 | 2,537 | 3,436 | |||||||||
$ | 18,894,555 | $ | 1,334,425 | $ | 17,650,131 | $ | 17,240,012 |
Intangible_Assets_Tables
Intangible Assets (Tables) | 3 Months Ended | ||||||||||||
Mar. 29, 2014 | |||||||||||||
Schedule of Intangible Assets and Goodwill [Table Text Block] | ' | ||||||||||||
Accumulated | Net Book Value | Net Book Value | |||||||||||
Cost | Amortization | 29-Mar-14 | 28-Dec-13 | ||||||||||
Patents | $ | 169,974 | $ | 77,978 | $ | 91,996 | $ | 85,482 | |||||
Trademarks | 118,633 | 91,556 | 27,077 | 28,065 | |||||||||
License fee | 61,912 | 23,381 | 38,531 | 41,998 | |||||||||
$ | 350,519 | $ | 192,915 | $ | 157,604 | $ | 155,545 |
Long_term_debt_Tables
Long term debt (Tables) | 3 Months Ended | ||||||
Mar. 29, 2014 | |||||||
Schedule of Long-term Debt Instruments [Table Text Block] | ' | ||||||
29-Mar-14 | 28-Dec-13 | ||||||
Convertible debentures | |||||||
Balance, beginning | $ | 16,674,686 | $ | 10,051,262 | |||
Convertible debentures issued | - | 8,307,249 | |||||
Discount on debentures | - | (754,829 | ) | ||||
Amendment of debentures – conversion price | - | (79,931 | ) | ||||
Accretion expense | 60,147 | 94,030 | |||||
Effect of foreign exchange | (565,819 | ) | (943,095 | ) | |||
Balance, ending | 16,169,014 | 16,674,686 | |||||
IKEA Loan | |||||||
Balance, beginning | - | - | |||||
Loan issued | 2,197,153 | - | |||||
Effect of foreign exchange | (4,739 | ) | - | ||||
Balance, ending | 2,192,414 | - | |||||
Long term debt – long term | 18,361,428 | 16,674,686 | |||||
Less: current portion | 60,467 | - | |||||
$ | 18,300,961 | $ | 16,674,686 | ||||
Schedule of Deferred debt issuance costs [Table Text Block] | ' | ||||||
29-Mar-14 | 28-Dec-13 | ||||||
Balance, beginning | $ | 1,442,023 | $ | 1,024,294 | |||
Issuance costs - cash | 48,218 | 800,910 | |||||
Issuance costs – warrants | - | 66,278 | |||||
Issuance costs allocated to additional paid in capital | - | (102,670 | ) | ||||
Amortization of issuance costs | (106,306 | ) | (346,789 | ) | |||
Effect of foreign exchange | (50,040 | ) | - | ||||
$ | 1,333,895 | $ | 1,442,023 |
Notes_Payable_Tables
Notes Payable (Tables) | 3 Months Ended | ||||||
Mar. 29, 2014 | |||||||
Convertible Note Payable [Table Text Block] | ' | ||||||
29-Mar-14 | 28-Dec-13 | ||||||
Balance, beginning | $ | 476,614 | $ | - | |||
Principal | - | 655,804 | |||||
Interest | 27,927 | 23,781 | |||||
Repayment | - | (48,326 | ) | ||||
Beneficial conversion feature | - | (188,140 | ) | ||||
Accretion expense – beneficial conversion feature | 150,372 | 33,495 | |||||
Bonus shares issued | (131,744 | ) | - | ||||
Accretion expense – bonus shares issued | 24,006 | - | |||||
Effect of foreign exchange | (15,139 | ) | - | ||||
$ | 532,036 | $ | 476,614 |
Capital_Stock_Tables
Capital Stock (Tables) | 3 Months Ended | |||||
Mar. 29, 2014 | ||||||
Schedule of Stockholders' Equity Note, Warrants or Rights, Activity [Table Text Block] | ' | |||||
Warrants | Weighted-Average Exercise Price | |||||
Warrants outstanding, December 28, 2013 | 6,887,580 | $1.15 | ||||
Warrants issued | 1,257,500 | $1.75 | ||||
Warrants outstanding, March 29, 2014 | 8,145,080 | $1.25 | ||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | |||||
Shares | Weighted-Average Exercise Price | |||||
Options outstanding, December 28, 2013 | 6,468,799 | $1.80 | ||||
Options granted | 1,553,000 | 1.36 | ||||
Options cancelled/expired | -67,504 | 2.24 | ||||
Options outstanding, March 29, 2014 | 7,954,295 | $1.71 | ||||
Options exercisable, March 29, 2014 | 6,413,795 | $1.80 | ||||
Schedule of Disclosure of Share-based Compensation, Stock Options Outstanding [Table Text Block] | ' | |||||
Weighted Average | Weighted | |||||
Range of Exercise | Number | Remaining Contractual | Weighted Average | Number | Average | |
Prices | Outstanding | Life (yr) | Exercise Price | Exercisable | Exercise Price | |
$0.87 - $3.05 | 7,971,799 | 2.74 | $1.71 | 6,421,300 | $1.80 | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | ' | |||||
Risk-free interest rates | 0.63% to 0.70% | |||||
Volatility factor | 73% to 88% | |||||
Expected life of options, in years | 3 - 4.2 |
Business_Combination_Tables
Business Combination (Tables) | 3 Months Ended | |||
Mar. 29, 2014 | ||||
Business Combination, Segment Allocation [Table Text Block] | ' | |||
Fair value of assets acquired | $ | 1,797,121 | ||
Fair value of debt assumed | (1,172,081 | ) | ||
Deferred income tax liability | (199,131 | ) | ||
Bargain purchase gain | $ | 425,909 | ||
Business Combination, Separately Recognized Transactions [Table Text Block] | ' | |||
Bank line of credit, bearing interest at 3.25% repayable June 25, 2014 | $ | 299,730 | ||
Bank term loans, bearing interest ranging from 3.1% to 4.55% repayable between September 2014 and December 2018 | 670,062 | |||
Loan payable on demand bearing interest at 4% per annum | 90,777 | |||
Loan payable on demand bearing no interest | 68,721 | |||
1,129,290 | ||||
Less: current portion | 615,088 | |||
$ | 514,202 |
Basis_of_Presentation_Narrativ
Basis of Presentation (Narrative) (Details) (USD $) | Mar. 29, 2014 |
Cumulative Deficit | $49,998,644 |
Working Capital Deficiency | $855,510 |
Property_and_Equipment_Narrati
Property and Equipment (Narrative) (Details) (USD $) | 3 Months Ended | |
Mar. 29, 2014 | Mar. 30, 2013 | |
Depreciation and Amortization | $12,468 | $37,804 |
Cost of Goods Sold | 103,851 | 0 |
General and Administrative Expense | $0 | $241,754 |
Intangible_Assets_Narrative_De
Intangible Assets (Narrative) (Details) (USD $) | 3 Months Ended | |
Mar. 29, 2014 | Mar. 30, 2013 | |
Intangible assets, amortization and depreciation expense | $11,672 | $14,133 |
Long_term_debt_Narrative_Detai
Long term debt (Narrative) (Details) | 3 Months Ended | 12 Months Ended | 54 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 15 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||||||
Mar. 29, 2014 | Mar. 29, 2014 | Mar. 30, 2013 | Dec. 28, 2013 | Mar. 29, 2014 | Mar. 29, 2014 | Mar. 29, 2014 | Dec. 29, 2012 | Dec. 29, 2012 | Mar. 29, 2014 | Mar. 29, 2014 | Mar. 30, 2013 | Mar. 30, 2013 | Mar. 29, 2014 | Mar. 29, 2014 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Mar. 29, 2014 | Dec. 28, 2013 | Dec. 28, 2013 | Mar. 29, 2014 | Mar. 29, 2014 | Mar. 29, 2014 | Mar. 30, 2013 | Dec. 28, 2013 | Mar. 29, 2014 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Mar. 29, 2014 | Mar. 29, 2014 | Jul. 26, 2013 | Dec. 28, 2013 | |
USD ($) | CAD | USD ($) | USD ($) | USD ($) | Convertible Notes [Member] | Convertible Notes [Member] | Convertible Notes - 2012 [Member] | Convertible Notes - 2012 [Member] | Convertible Notes - 2012 [Member] | Convertible Notes - 2012 [Member] | Convertible Notes - 2012 [Member] | Convertible Notes - 2012 [Member] | Convertible Notes - 2013 [Member] | Convertible Notes - 2013 [Member] | Convertible Notes - 2013 [Member] | Convertible Notes - 2013 [Member] | Convertible Notes - 2013 [Member] | Convertible Notes - 2013 [Member] | Guaranty and Security Agreement - amendment [Member] | Guaranty and Security Agreement - amendment [Member] | Guaranty and Security Agreement - amendment [Member] | IKEA Loan [Member] | IKEA Loan [Member] | IKEA Loan [Member] | IKEA Loan [Member] | IKEA Loan [Member] | IKEA Loan [Member] | Closing a subordinated convertible debenture [Member] | Closing a subordinated convertible debenture [Member] | Closing a subordinated convertible debenture [Member] | Closing a subordinated convertible debenture [Member] | Closing a subordinated convertible debenture [Member] | Closing a subordinated convertible debenture [Member] | Closing a subordinated convertible debenture [Member] | Closing a subordinated convertible debenture [Member] | Closing a subordinated convertible debenture [Member] | Naturally Advanced Technologies [Member] | |
USD ($) | CAD | USD ($) | CAD | USD ($) | CAD | USD ($) | CAD | USD ($) | CAD | USD ($) | CAD | Agent warrants [Member] | Brokers Warrants [Member] | USD ($) | USD ($) | CAD | USD ($) | CAD | EUR (€) | USD ($) | USD ($) | USD ($) | USD ($) | CAD | Warrants [Member] | Warrants [Member] | Convertible Notes - 2013 [Member] | Convertible Notes - 2013 [Member] | Convertible Notes - 2013 [Member] | Convertible Notes - 2013 [Member] | Convertible Notes - 2013 [Member] | USD ($) | ||||||
USD ($) | USD ($) | USD ($) | CAD | USD ($) | CAD | USD ($) | CAD | CAD | ||||||||||||||||||||||||||||||
Notes Issued | ' | ' | ' | ' | ' | ' | ' | $10,051,262 | 10,000,000 | ' | ' | ' | ' | ' | ' | $4,943,643 | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | ' | ' | 10.00% | 10.00% | ' | ' | ' | ' | ' | ' | 10.00% | 10.00% | ' | ' | ' | ' | ' | 1.90% | 1.90% | 1.90% | ' | ' | 1.90% | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' |
Interest Payable | ' | ' | ' | ' | ' | ' | ' | ' | ' | 446,992 | 493,151 | 524,182 | 523,972 | 223,521 | 246,575 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 158,029 | 174,329 | ' | ' |
Payments of deferred debt issuance costs | 48,218 | ' | ' | 800,910 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 427,049 | 487,830 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Convertible, Conversion Price | ' | ' | ' | ' | ' | $2.85 | 2.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.25 | ' |
Business Acquisition, Cost of Acquired Entity, Purchase Price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,922,240 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,500,000 |
Deferred financing costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 337,469 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Convertible Debt | 0 | ' | 4,713,238 | ' | 18,358,511 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,363,606 | 3,535,000 | ' | ' | ' | ' |
Class of Warrant or Right, Grants in Period, Net of Forfeitures | 1,257,500 | 1,257,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 192,360 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,828,000 | 2,828,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right, Grants in Period, Exercise Price | ' | 1.75 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1.25 | ' | $1.21 | 1.25 | ' | ' | ' | ' | ' | ' | $2 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants Issued During Period, Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 66,278 | ' | ' | 79,931 | ' | ' | ' | ' | ' | ' | ' | 974,387 | 1,003,910 | 754,829 | 777,700 | 2,295,309 | 2,757,300 | ' | ' | ' | ' |
Equity financing gross proceeds amount, redemption threshold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 19,400,000 | 20,000,000 | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | ' | 0.00% | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 56.00% | ' | 56.00% | 56.00% | ' | ' | ' | ' | ' | ' | 56.00% | 56.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.59% | ' | 0.59% | 0.59% | ' | ' | ' | ' | ' | ' | 0.59% | 0.59% | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2 years 9 months 29 days | ' | '2 years 5 months 1 day | '2 years 5 months 1 day | ' | ' | ' | ' | ' | ' | '2 years 9 months 29 days | '2 years 9 months 29 days | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of debt discount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60,147 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred Issuance costs for convertible debenture | 11,140 | ' | 481,962 | ' | 1,981,809 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 373,861 | ' | 440,139 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional Paid-in Capital | 10,004,951 | ' | ' | 9,934,322 | 10,004,951 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 102,670 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of deferred debt issuance costs | 101,576 | ' | 85,531 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loan issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,197,153 | ' | 1,597,000 | ' | 0 | 2,197,153 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Monthly installments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15,118 | ' | 11,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loan payable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,028,300 | ' | 2,190,000 | ' | ' | 3,028,300 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unused credit facility amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 831,147 | ' | 593,000 | ' | ' | 831,147 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,255 | 9,087 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt issuance costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,140 | ' | ' | ' | 37,079 | 48,218 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accretion expense for deferred issuance costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $4,730 | ' | ' | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notes_Payable_Narrative_Detail
Notes Payable (Narrative) (Details) | 3 Months Ended | 12 Months Ended | 54 Months Ended | 3 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | ||||||||||||
Mar. 29, 2014 | Mar. 29, 2014 | Mar. 30, 2013 | Dec. 28, 2013 | Mar. 29, 2014 | Mar. 29, 2014 | Dec. 28, 2013 | Dec. 28, 2013 | Oct. 31, 2013 | Oct. 31, 2013 | Mar. 29, 2014 | Oct. 31, 2013 | Oct. 31, 2013 | Nov. 30, 2013 | Nov. 30, 2013 | Oct. 31, 2013 | Oct. 31, 2013 | Mar. 29, 2014 | Oct. 31, 2013 | Mar. 29, 2014 | |
USD ($) | CAD | USD ($) | USD ($) | USD ($) | Convertible Promissory Notes [Member] | Convertible Promissory Notes [Member] | Convertible Promissory Notes [Member] | Mr. Robert Edmunds [Member] | Mr. Robert Edmunds [Member] | Mr. Robert Edmunds [Member] | Mr. Robert Edmunds - 2 [Member] | Mr. Robert Edmunds - 2 [Member] | Mr. Jason Finnis [Member] | Mr. Jason Finnis [Member] | Mr. Jason Finnis [Member] | Mr. Jason Finnis [Member] | Mr. Jason Finnis [Member] | Mr. Kenneth Barker [Member] | Mr. Kenneth Barker [Member] | |
USD ($) | USD ($) | CAD | Convertible Promissory Notes [Member] | Convertible Promissory Notes [Member] | Convertible Promissory Notes [Member] | Convertible Promissory Notes [Member] | Convertible Promissory Notes [Member] | Convertible Promissory Notes [Member] | Convertible Promissory Notes [Member] | Convertible Promissory Notes [Member] | Convertible Promissory Notes [Member] | Convertible Promissory Notes [Member] | Convertible Promissory Notes [Member] | Convertible Promissory Notes [Member] | ||||||
USD ($) | CAD | USD ($) | USD ($) | CAD | USD ($) | CAD | USD ($) | CAD | USD ($) | USD ($) | USD ($) | |||||||||
Convertible debenture issued | ' | ' | ' | ' | ' | ' | ' | ' | $467,369 | 500,000 | ' | $42,255 | 45,000 | ' | ' | $96,180 | 100,000 | ' | $50,000 | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | 20.00% | ' | ' | ' | ' | ' | 12.00% | 12.00% | ' | 12.00% | ' |
Bonus common shares issued | 181,666 | 181,666 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Bonus common shares, fair value amount | 131,744 | ' | ' | 0 | ' | ' | ' | ' | 131,744 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accretion expense | ' | ' | ' | ' | ' | 150,372 | ' | ' | ' | ' | 24,006 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible Debt, Current | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 431,414 | ' | ' | ' | ' | ' | ' | 47,869 | ' | 52,753 |
Repayments of Convertible Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 48,326 | 50,000 | ' | ' | ' | ' | ' |
Interest Paid | 6,261 | ' | 277,397 | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | 441 | 460 | ' | ' | ' | ' | ' |
Debt Instrument, Convertible, Conversion Price | ' | ' | ' | ' | ' | ' | $0.60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right, Outstanding, Weighted Average Exercise Price | $1.25 | ' | ' | $1.15 | $1.25 | ' | $0.70 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right, Weighted Average Remaining Contractual Term | '3 years 1 month 20 days | '3 years 1 month 20 days | ' | ' | '3 years 1 month 20 days | ' | '5 years | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Convertible, Beneficial Conversion Feature | 0 | ' | ' | 188,140 | ' | ' | 188,140 | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Convertible, Beneficial Conversion Feature, After Accretion | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Public offering of registered securities, minimum amount, for debt maturity | $2,712,000 | 3,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital_Stock_Narrative_Detail
Capital Stock (Narrative) (Details) | 3 Months Ended | 12 Months Ended | 54 Months Ended | 3 Months Ended | ||||||
Mar. 29, 2014 | Mar. 29, 2014 | Mar. 30, 2013 | Dec. 28, 2013 | Mar. 29, 2014 | Mar. 29, 2014 | Mar. 30, 2013 | Mar. 29, 2014 | Mar. 30, 2013 | Mar. 29, 2014 | |
USD ($) | CAD | USD ($) | USD ($) | USD ($) | Consulting and contract labour [Member] | Consulting and contract labour [Member] | Salaries and benefits [Member] | Salaries and benefits [Member] | Finders' Fees [Member] | |
USD ($) | USD ($) | USD ($) | USD ($) | |||||||
Units Issued During Period, Units | 2,515,000 | 2,515,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Units Issued During Period, Per Unit Amount | $1.25 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Units Issued During Period | $3,143,750 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Units Issued During Period, Underlying Shares | 1 | 1 | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right, Grants in Period, Exercise Price | ' | 1.75 | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right, Grants in Period, Contractual Term | '2 years | '2 years | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, New Issues | ' | ' | ' | ' | ' | ' | ' | ' | ' | 176,400 |
Bonus common shares issued | 181,666 | 181,666 | ' | ' | ' | ' | ' | ' | ' | ' |
Bonus common shares, fair value amount | 131,744 | ' | ' | 0 | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right, Weighted Average Remaining Contractual Term | '3 years 1 month 20 days | '3 years 1 month 20 days | ' | ' | '3 years 1 month 20 days | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vests in Period | 62,502 | 62,502 | 489,042 | ' | ' | ' | ' | ' | ' | ' |
Stock-based compensation | $70,629 | ' | $555,273 | ' | $8,213,585 | $0 | $77,939 | $70,629 | $477,334 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Intrinsic Value | $0.73 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business_Combination_Narrative
Business Combination (Narrative) (Details) | 3 Months Ended | 12 Months Ended | 54 Months Ended | |||
Mar. 29, 2014 | Mar. 30, 2013 | Dec. 28, 2013 | Mar. 29, 2014 | Dec. 01, 2013 | Dec. 01, 2013 | |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | EUR (€) | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | ' | ' | ' | ' | $1,172,081 | -€ 861,551 |
Bargain purchase | 0 | 0 | 425,909 | 425,909 | ' | ' |
Principal payment on purchase agreement | 60,815 | ' | ' | ' | ' | ' |
Accrued interest | 6,261 | ' | ' | 6,261 | ' | ' |
Business Combination, Liabilities Assumed, Foreign Exchange Effect | ' | ' | $1,832 | ' | ' | ' |
Related_Parties_Transactions_N
Related Parties Transactions (Narrative) (Details) (Officers and directors [Member], USD $) | 3 Months Ended | 12 Months Ended |
Mar. 30, 2013 | Dec. 28, 2013 | |
Officers and directors [Member] | ' | ' |
Related Party Transaction, Amounts of Transaction | $419,271 | $217,040 |
Subsequent_Events_Narrative_De
Subsequent Events (Narrative) (Details) | 3 Months Ended | 54 Months Ended | 1 Months Ended | ||
Mar. 29, 2014 | Mar. 30, 2013 | Mar. 29, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | |
USD ($) | USD ($) | USD ($) | IKEA Loan [Member] | IKEA Loan [Member] | |
USD ($) | EUR (€) | ||||
Proceeds from loan | $2,136,338 | $0 | $2,557,347 | $210,237 | € 152,900 |
Schedule_of_Inventory_Current_
Schedule of Inventory, Current (Details) (USD $) | Mar. 29, 2014 | Dec. 28, 2013 |
Inventory, Net | $876,238 | $945,040 |
CRAiLAR fiber [Member] | ' | ' |
Inventory, Net | 163,061 | 186,464 |
Decorticated fiber [Member] | ' | ' |
Inventory, Net | 296,075 | 252,263 |
Raw flaw fiber feedstock [Member] | ' | ' |
Inventory, Net | 249,218 | 369,590 |
Others [Member] | ' | ' |
Inventory, Net | $167,884 | $136,723 |
Property_Plant_and_Equipment_D
Property, Plant and Equipment (Details) (USD $) | Mar. 29, 2014 | Dec. 28, 2013 |
Property, Plant and Equipment, Gross | $18,894,555 | ' |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | 1,334,425 | ' |
Property, Plant and Equipment, Net | 17,650,131 | 17,240,012 |
Automobiles [Member] | ' | ' |
Property, Plant and Equipment, Gross | 58,745 | ' |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | 8,876 | ' |
Property, Plant and Equipment, Net | 49,869 | 49,867 |
Computer equipment [Member] | ' | ' |
Property, Plant and Equipment, Gross | 126,835 | ' |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | 71,760 | ' |
Property, Plant and Equipment, Net | 55,074 | 57,180 |
Equipment [Member] | ' | ' |
Property, Plant and Equipment, Gross | 542,044 | ' |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | 104,503 | ' |
Property, Plant and Equipment, Net | 437,541 | 443,105 |
Equipment held for sale [Member] | ' | ' |
Property, Plant and Equipment, Gross | 70,000 | ' |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | 0 | ' |
Property, Plant and Equipment, Net | 70,000 | 70,000 |
Furniture and fixtures [Member] | ' | ' |
Property, Plant and Equipment, Gross | 61,082 | ' |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | 37,219 | ' |
Property, Plant and Equipment, Net | 23,863 | 25,421 |
Leasehold improvements [Member] | ' | ' |
Property, Plant and Equipment, Gross | 6,380,332 | ' |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | 617,377 | ' |
Property, Plant and Equipment, Net | 5,762,955 | 5,711,874 |
Production equipment [Member] | ' | ' |
Property, Plant and Equipment, Gross | 5,395,625 | ' |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | 379,973 | ' |
Property, Plant and Equipment, Net | 5,015,652 | 4,818,280 |
Production equipment in construction [Member] | ' | ' |
Property, Plant and Equipment, Gross | 6,232,640 | ' |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | 0 | ' |
Property, Plant and Equipment, Net | 6,232,640 | 6,060,849 |
Website development [Member] | ' | ' |
Property, Plant and Equipment, Gross | 117,254 | ' |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | 114,718 | ' |
Property, Plant and Equipment, Net | $2,537 | $3,436 |
Schedule_of_Intangible_Assets_
Schedule of Intangible Assets and Goodwill (Details) (USD $) | Mar. 29, 2014 | Dec. 28, 2013 |
Finite-Lived Intangible Assets, Gross | $350,519 | ' |
Finite-Lived Intangible Assets, Accumulated Amortization | 192,915 | ' |
Finite-Lived Intangible Assets, Net | 157,604 | 155,545 |
Patent [Member] | ' | ' |
Finite-Lived Patents, Gross | 169,974 | ' |
Finite-Lived Intangible Assets, Accumulated Amortization | 77,978 | ' |
Finite-Lived Intangible Assets, Net | 91,996 | 85,482 |
Trademarks [Member] | ' | ' |
Finite-Lived Trademarks, Gross | 118,633 | ' |
Finite-Lived Intangible Assets, Accumulated Amortization | 91,556 | ' |
Finite-Lived Intangible Assets, Net | 27,077 | 28,065 |
License Fee [Member] | ' | ' |
Finite-Lived License Agreements, Gross | 61,912 | ' |
Finite-Lived Intangible Assets, Accumulated Amortization | 23,381 | ' |
Finite-Lived Intangible Assets, Net | $38,531 | $41,998 |
Schedule_of_Longterm_Debt_Inst
Schedule of Long-term Debt Instruments (Details) | Mar. 29, 2014 | Dec. 28, 2013 | Mar. 29, 2014 | Dec. 28, 2013 | Mar. 29, 2014 | Dec. 28, 2013 | Mar. 29, 2014 |
USD ($) | USD ($) | Convertible Debentures | Convertible Debentures | IKEA Loan [Member] | IKEA Loan [Member] | IKEA Loan [Member] | |
USD ($) | USD ($) | USD ($) | USD ($) | EUR (€) | |||
Convertible debt, balance beginning | $18,300,961 | $16,674,686 | $16,674,686 | $10,051,262 | $16,674,686 | ' | ' |
Balance, beginning | ' | ' | ' | ' | 0 | 0 | ' |
Convertible debenture issued | ' | ' | 0 | 8,307,249 | ' | ' | ' |
Loan issued | ' | ' | ' | ' | 2,197,153 | 0 | 1,597,000 |
Discount on debentures | ' | ' | 0 | -754,829 | ' | ' | ' |
Amendment of debentures conversion price | ' | ' | 0 | -79,931 | ' | ' | ' |
Accretion expense | ' | ' | 60,147 | 94,030 | ' | ' | ' |
Effect of foreign exchange | ' | ' | -565,819 | -943,095 | -4,739 | 0 | ' |
Balance, ending | ' | ' | ' | ' | 2,192,414 | 0 | ' |
Long term debt - long term | ' | ' | ' | ' | 18,361,428 | 16,674,686 | ' |
Less: Current portion | 60,467 | 0 | ' | ' | 60,467 | 0 | ' |
Long Term Debt, end of period | $18,300,961 | $16,674,686 | $16,169,014 | $16,674,686 | $18,300,961 | $16,674,686 | ' |
Schedule_of_Deferred_debt_issu
Schedule of Deferred debt issuance costs (Details) (USD $) | 3 Months Ended | 12 Months Ended |
Mar. 29, 2014 | Dec. 28, 2013 | |
Deferred Debt Issuance Costs, beginning of period | $1,442,023 | $1,024,294 |
Issuance costs - cash | 48,218 | 800,910 |
Issuance costs warrants | 0 | 66,278 |
Issuance costs allocated to additional paid in capital | 0 | -102,670 |
Amortization of issuance costs | -106,306 | -346,789 |
Effect of foreign exchange | -50,040 | 0 |
Deferred Debt Issuance Costs, end of period | $1,333,895 | $1,442,023 |
Convertible_Note_Payable_Detai
Convertible Note Payable (Details) (USD $) | 3 Months Ended | 12 Months Ended |
Mar. 29, 2014 | Dec. 28, 2013 | |
Balance, beginning | $476,614 | $0 |
Principal | 0 | 655,804 |
Interest | 27,927 | 23,781 |
Repayment | 0 | -48,326 |
Beneficial conversion feature | 0 | -188,140 |
Bonus shares issued | -131,744 | 0 |
Effect of foreign exchange | -15,139 | 0 |
Note payable | 532,036 | 476,614 |
Beneficial Conversion Feature [Member] | ' | ' |
Accretion expense | 150,372 | 33,495 |
Bonus Shares Issued [Member] | ' | ' |
Accretion expense | $24,006 | $0 |
Schedule_of_Stockholders_Equit
Schedule of Stockholders' Equity Note, Warrants or Rights, Activity (Details) (USD $) | 3 Months Ended |
Mar. 29, 2014 | |
Class of Warrant or Right, Outstanding, Beginning of Period | 6,887,580 |
Class of Warrant or Right, Outstanding, Weighted Average Exercise Price, Beginning of Period | $1.15 |
Class of Warrant or Right, Grants in Period, Net of Forfeitures | 1,257,500 |
Class of Warrant or Right, Grants in Period, Weighted Average Exercise Price | $1.75 |
Class of Warrant or Right, Outstanding, End of Period | 8,145,080 |
Class of Warrant or Right, Outstanding, Weighted Average Exercise Price, End of Period | $1.25 |
Schedule_of_Sharebased_Compens
Schedule of Share-based Compensation, Stock Options, Activity (Details) (USD $) | 3 Months Ended |
Mar. 29, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Beginning of Period | 6,468,799 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning of Period | $1.80 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | 1,553,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $1.36 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period | 67,504 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period, Weighted Average Exercise Price | $2.24 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, End of Period | 7,954,295 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, End of Period | $1.71 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number, End of Period | 6,413,795 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price, End of Period | $1.80 |
Schedule_of_Disclosure_of_Shar
Schedule of Disclosure of Share-based Compensation, Stock Options Outstanding (Details) (USD $) | Mar. 29, 2014 | Dec. 28, 2013 | Mar. 29, 2014 |
Exercise Price Range 1 [Member] | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit | ' | ' | $0.87 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit | ' | ' | $3.05 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding | 7,954,295 | 6,468,799 | 7,971,799 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | ' | ' | '2 years 8 months 26 days |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $1.71 | $1.80 | $1.71 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 6,413,795 | ' | 6,421,300 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $1.80 | ' | $1.80 |
Schedule_of_Sharebased_Payment
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details) | 3 Months Ended |
Mar. 29, 2014 | |
Risk-free interest rate, Minimum | 0.63% |
Risk-free interest rate, Maximum | 0.70% |
Volatility factor, Minimum | 73.00% |
Volatility factor, Maximum | 88.00% |
Minimum [Member] | ' |
Expected life of options, in years | '3 years |
Maximum [Member] | ' |
Expected life of options, in years | '4 years 2 months 12 days |
Business_Combination_Segment_A
Business Combination, Segment Allocation (Details) | 3 Months Ended | 12 Months Ended | 54 Months Ended | |||
Mar. 29, 2014 | Mar. 30, 2013 | Dec. 28, 2013 | Mar. 29, 2014 | Dec. 01, 2013 | Dec. 01, 2013 | |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | EUR (€) | |
Fair value of assets acquired | ' | ' | ' | ' | $1,797,121 | ' |
Fair value of debt assumed | ' | ' | ' | ' | -1,172,081 | 861,551 |
Deferred income tax liability | ' | ' | ' | ' | -199,131 | ' |
Bargain purchase gain | $0 | $0 | $425,909 | $425,909 | ' | ' |
Business_Combination_Separatel
Business Combination, Separately Recognized Transactions (Details) (USD $) | Mar. 29, 2014 |
Bank line of credit, bearing interest at 3.25%, repayable June 25, 2014 | $299,730 |
Bank line of credit, Interest Rate | 3.25% |
Bank term loans, bearing interest ranging from 3.1% to 4.55%, repayable between September 2014 and August 2022. | 670,062 |
Bank term loans, Lower Interest Rate | 3.10% |
Bank term loans, Upper Interest Rate | 4.55% |
Loan payable on demand bearing interest at 4% per annum | 90,777 |
Loan payable on demand with interest, interest rate | 4.00% |
Loan payable on demand bearing no interest | 68,721 |
Current and Non-Current portion | 1,129,290 |
Less: current portion | 615,088 |
Non-Current portion | $514,202 |