Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Dec. 31, 2013 | Feb. 11, 2014 | |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 31-Dec-13 | ' |
Trading Symbol | 'crnsf | ' |
Entity Registrant Name | 'Coronus Solar Inc. | ' |
Entity Central Index Key | '0001448900 | ' |
Current Fiscal Year End Date | '--03-31 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Common Stock, Shares Outstanding | ' | 17,219,486 |
Entity Current Reporting Status | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Well Known Seasoned Issuer | 'No | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
CONSOLIDATED_INTERIM_BALANCE_S
CONSOLIDATED INTERIM BALANCE SHEETS (USD $) | Dec. 31, 2013 | Mar. 31, 2013 |
CURRENT | ' | ' |
Cash and cash equivalents | $19,299 | $284,989 |
Other receivables | 10,770 | 34,529 |
Prepaid expenses and deposits | 166 | 27,666 |
Receivable - debenture, net - current | 1,296,430 | 0 |
TOTAL CURRENT ASSETS | 1,326,665 | 347,184 |
PREPAID EXPENSES AND DEPOSITS | 0 | 564,150 |
PROPERTY, PLANT AND EQUIPMENT | 119,477 | 127,002 |
RECEIVABLE - DEBENTURE - LONG TERM | 3,196,615 | 0 |
PROJECT ASSETS | 0 | 3,477,920 |
TOTAL ASSETS | 4,642,757 | 4,516,256 |
CURRENT | ' | ' |
Accounts payable and accrued liabilities | 86,787 | 72,725 |
Senior secured promissory note | 0 | 2,902,100 |
Notes payable | 37,101 | 232,084 |
Deferred expenses - current | 267,350 | 0 |
TOTAL CURRENT LIABILITIES | 391,238 | 3,206,909 |
NOTES PAYABLE - LONG TERM | 0 | 579,014 |
DEFERRED EXPENSES - LONG TERM | 639,323 | 0 |
TOTAL LIABILITIES | 1,030,561 | 3,785,923 |
STOCKHOLDERS' EQUITY | ' | ' |
SHARE CAPITAL Authorized: Unlimited voting common shares without par value Issued and outstanding: 17,219,486 common shares (March 31, 2013: 17,219,486) | 1,548,492 | 1,548,492 |
ADDITIONAL PAID IN CAPITAL | 598,534 | 598,534 |
ACCUMULATED OTHER COMPREHENSIVE LOSS | -33,402 | -28,035 |
RETAINED EARNINGS (DEFICIT), accumulated during the development stage | 1,498,572 | -1,388,658 |
TOTAL STOCKHOLDERS' EQUITY | 3,612,196 | 730,333 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $4,642,757 | $4,516,256 |
CONSOLIDATED_INTERIM_BALANCE_S1
CONSOLIDATED INTERIM BALANCE SHEETS (Parentheticals) (USD $) | Dec. 31, 2013 | Mar. 31, 2013 |
Authorized, common shares | ' | ' |
Common Stock, No Par Value | ' | ' |
Authorized, issued | 17,219,486 | 17,219,486 |
Authorized, outstanding | 17,219,486 | 17,219,486 |
CONSOLIDATED_INTERIM_STATEMENT
CONSOLIDATED INTERIM STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 145 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
REVENUE | $0 | $0 | $0 | $0 | $0 | $1,751 |
EXPENSES | ' | ' | ' | ' | ' | ' |
Amortization - tangible and intangible assets | 11 | 607 | 12 | 23 | 4,211 | 57,392 |
Amortization - financing costs on promissory note | 0 | 3,228 | 146,568 | 146,568 | 3,228 | 208,690 |
Consulting fee | 38,448 | 28,700 | 111,904 | 150,352 | 28,700 | 267,873 |
Interest on shareholder loan | 0 | 5 | 0 | 0 | 435 | 28,306 |
Interest and bank charges | 771 | 2,893 | 98,013 | 98,784 | 11,947 | 176,257 |
Imputed interest expense | 25,298 | 0 | 3,176 | 28,474 | 0 | 28,474 |
Office and miscellaneous | 4,966 | 15,487 | 52,513 | 57,479 | 41,552 | 221,679 |
Professional fees | 11,591 | 14,161 | 91,672 | 103,263 | 63,629 | 537,358 |
Repairs and maintenance | 0 | 0 | 0 | 0 | 0 | 869 |
Salaries and wages | 0 | 24,218 | 39,976 | 39,976 | 74,400 | 608,513 |
Stock based compensation | 0 | 0 | 0 | 0 | 0 | 492,309 |
Telephone and utilities | 117 | 58 | 674 | 791 | 251 | 13,980 |
Advertising and promotion | 0 | -402 | 0 | 0 | 0 | 9,124 |
Travel | 0 | 1,224 | 9,742 | 9,742 | 1,224 | 20,919 |
Feasibility study | 0 | 27,250 | 25,855 | 25,855 | 143,407 | 308,296 |
Foreign exchange loss | 1,385 | -216 | -1,366 | 19 | 8,241 | 14,313 |
Write-down of land deposits | 0 | 0 | 0 | 0 | 0 | 23,888 |
Write down in website development costs | 0 | 0 | 0 | 0 | 0 | 17,390 |
Write-off CIP | 0 | 0 | 0 | 0 | 0 | 658,440 |
Write-off trademark cost | 0 | 0 | 0 | 0 | 0 | 279 |
Write-off on discount of convertible notes | 0 | 919 | 0 | 0 | 81,156 | 86,923 |
Operating expenses | 82,587 | 118,132 | 578,739 | 661,326 | 462,381 | 3,781,272 |
OTHER ITEMS | ' | ' | ' | ' | ' | ' |
Interest income | 8 | 0 | 86 | 94 | 85 | 215 |
Imputed interest income | 126,490 | 0 | 15,880 | 142,370 | 0 | 142,370 |
Debt forgiven | 0 | 0 | 0 | 0 | 0 | 13,192 |
Gain on sale of assets | 0 | 0 | 0 | 0 | 1,717,024 | 1,717,024 |
Gain on disposal of subsidiaries | 0 | 0 | 3,420,612 | 3,420,612 | 0 | 3,420,612 |
Write-down land related costs | -2,612 | 0 | -7,758 | -10,370 | 0 | -10,370 |
Other income | 0 | 0 | 850 | 850 | 0 | 850 |
Other expenses | 0 | 0 | 0 | 0 | 0 | -800 |
Total other items | 123,886 | 0 | 3,429,670 | 3,553,556 | 1,717,109 | 5,283,093 |
INCOME (LOSS) BEFORE INCOME TAXES | 41,299 | -118,132 | 2,850,931 | 2,892,230 | 1,254,728 | 1,503,572 |
Income Taxes | 0 | 0 | 5,000 | 5,000 | 0 | 5,000 |
NET INCOME (LOSS) FOR THE PERIOD | 41,299 | -118,132 | 2,845,931 | 2,887,230 | 1,254,728 | 1,498,572 |
CURRENCY TRANSLATION ADJUSTMENT | 1,806 | 101 | -7,173 | -5,367 | -1,392 | -33,402 |
COMPREHENSIVE LOSS FOR THE PERIOD | $43,105 | ($118,031) | $2,838,758 | $2,881,863 | $1,253,336 | $1,465,170 |
Income per share - Basic | $0 | ($0.01) | ' | $0.17 | $0.06 | ' |
Weighted average number of common shares outstanding - basic | 17,219,486 | 17,219,486 | ' | 17,219,486 | 22,103,914 | ' |
Income per share - Diluted | $0 | ($0.01) | ' | $0.16 | $0.05 | ' |
Weighted average number of common shares outstanding - diluted | 18,044,803 | 17,219,486 | ' | 18,044,803 | 22,929,230 | ' |
CONSOLIDATED_INTERIM_STATEMENT1
CONSOLIDATED INTERIM STATEMENTS OF STOCKHOLDERS' EQUITY (USD $) | COMMON SHARES [Member] | ADDITIONAL PAID-IN CAPITAL [Member] | ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) [Member] | DEFICIT ACCUMULATED DURING DEVELOPMNET STAGE [Member] | Total |
Beginning Balance at Dec. 03, 2001 | ' | ' | ' | ' | ' |
Stock issued for service at $0.0525 per share on December 5, 2001 | $3,931 | ' | ' | ' | $3,931 |
Stock issued for service at $0.0525 per share on December 5, 2001 (Shares) | 75,000 | ' | ' | ' | ' |
Stock issued for cash at $0.0002 per share on December 5, 2001, revalued at $0.0525 per share | 353,767 | ' | ' | ' | 353,767 |
Stock issued for cash at $0.0002 per share on December 5, 2001, revalued at $0.0525 per share (Shares) | 6,750,000 | ' | ' | ' | ' |
Stock issued for cash at $0.0525 per share on December 5, 2001 | 15,722 | ' | ' | ' | 15,722 |
Stock issued for cash at $0.0525 per share on December 5, 2001 (Shares) | 300,000 | ' | ' | ' | ' |
Stock-based compensation on 75,000 options granted | ' | 6,026 | ' | ' | 6,026 |
Currency translation adjustment | ' | ' | -9 | ' | -9 |
Income (Loss) for the period | ' | ' | ' | -376,277 | -376,277 |
Ending Balance at Mar. 31, 2002 | 373,420 | 6,026 | -9 | -376,277 | 3,160 |
Ending Balance (Shares) at Mar. 31, 2002 | 7,125,000 | ' | ' | ' | ' |
Stock issued for cash at $0.055 per share on April 5, 2002 | 12,916 | ' | ' | ' | 12,916 |
Stock issued for cash at $0.055 per share on April 5, 2002 (Shares) | 235,294 | ' | ' | ' | ' |
Stock issued for cash at $0.0725 per share on June 18, 2002 | 6,458 | ' | ' | ' | 6,458 |
Stock issued for cash at $0.0725 per share on June 18, 2002 (Shares) | 88,890 | ' | ' | ' | ' |
Exericse of warrants at $0.055 per share on August 15, 2002 | 12,916 | ' | ' | ' | 12,916 |
Exericse of warrants at $0.055 per share on August 15, 2002 (Shares) | 235,294 | ' | ' | ' | ' |
Stock issued for cash at $0.0725 per share on December 16, 2002 | 3,229 | ' | ' | ' | 3,229 |
Stock issued for cash at $0.0725 per share on December 16, 2002 (Shares) | 44,444 | ' | ' | ' | ' |
Stock issued for cash at $0.0725 per share on January 10, 2003 | 3,229 | ' | ' | ' | 3,229 |
Stock issued for cash at $0.0725 per share on January 10, 2003 (Shares) | 44,446 | ' | ' | ' | ' |
Stock issued for cash at $0.0725 per share on January 21, 2003 | 6,458 | ' | ' | ' | 6,458 |
Stock issued for cash at $0.0725 per share on January 21, 2003 (Shares) | 88,890 | ' | ' | ' | ' |
Stock issued for cash at $0.0725 per share on March 7, 2003 | 14,944 | ' | ' | ' | 14,944 |
Stock issued for cash at $0.0725 per share on March 7, 2003 (Shares) | 205,690 | ' | ' | ' | ' |
Stock issued for cash at $0.0725 per share on March 13, 2003 | 2,008 | ' | ' | ' | 2,008 |
Stock issued for cash at $0.0725 per share on March 13, 2003 (Shares) | 27,644 | ' | ' | ' | ' |
Stock issued for debt at $0.0725 per share on January 15, 2003 | 1,615 | ' | ' | ' | 1,615 |
Stock issued for debt at $0.0725 per share on January 15, 2003 (Shares) | 22,222 | ' | ' | ' | ' |
Imputed interest from shareholder loan | ' | 340 | ' | ' | 340 |
Stock-based compensation on 25,000 options granted | ' | 1,957 | ' | ' | 1,957 |
Currency translation adjustment | ' | ' | 197 | ' | 197 |
Income (Loss) for the period | ' | ' | ' | -67,360 | -67,360 |
Ending Balance at Mar. 31, 2003 | 437,194 | 8,323 | 188 | -443,637 | 2,068 |
Ending Balance (Shares) at Mar. 31, 2003 | 8,117,814 | ' | ' | ' | ' |
Stock issued for cash at $0.0835 per share on April 2, 2003 | 7,403 | ' | ' | ' | 7,403 |
Stock issued for cash at $0.0835 per share on April 2, 2003 (Shares) | 88,890 | ' | ' | ' | ' |
Stock issued for cash at $0.0835 per share on May 13, 2003 | 3,702 | ' | ' | ' | 3,702 |
Stock issued for cash at $0.0835 per share on May 13, 2003 (Shares) | 44,446 | ' | ' | ' | ' |
Stock issued for cash at $0.0835 per share on May 21, 2003 | 3,702 | ' | ' | ' | 3,702 |
Stock issued for cash at $0.0835 per share on May 21, 2003 (Shares) | 44,446 | ' | ' | ' | ' |
Stock issued for cash at $0.0835 per share on June 23, 2003 | 11,105 | ' | ' | ' | 11,105 |
Stock issued for cash at $0.0835 per share on June 23, 2003 (Shares) | 133,334 | ' | ' | ' | ' |
Stock issued for cash at $0.0835 per share on August 1, 2003 | 3,702 | ' | ' | ' | 3,702 |
Stock issued for cash at $0.0835 per share on August 1, 2003 (Shares) | 44,444 | ' | ' | ' | ' |
Stock issued for cash at $0.0835 per share on August 6, 2003 | 3,702 | ' | ' | ' | 3,702 |
Stock issued for cash at $0.0835 per share on August 6, 2003 (Shares) | 44,446 | ' | ' | ' | ' |
Stock issued for cash at $0.0835 per share on October 24, 2003 | 4,164 | ' | ' | ' | 4,164 |
Stock issued for cash at $0.0835 per share on October 24, 2003 (Shares) | 50,000 | ' | ' | ' | ' |
Stock issued for cash at $0.0835 per share on November 18, 2003 | 4,164 | ' | ' | ' | 4,164 |
Stock issued for cash at $0.0835 per share on November 18, 2003 (Shares) | 50,000 | ' | ' | ' | ' |
Stock issued for debt at $0.0835 per share on April 15, 2003 | 1,851 | ' | ' | ' | 1,851 |
Stock issued for debt at $0.0835 per share on April 15, 2003 (Shares) | 22,222 | ' | ' | ' | ' |
Stock issued for debt at $0.0835 per share on July 15, 2003 | 1,851 | ' | ' | ' | 1,851 |
Stock issued for debt at $0.0835 per share on July 15, 2003 (Shares) | 22,222 | ' | ' | ' | ' |
Stock issued for debt at $0.0835 per share on October 15, 2003 | 1,851 | ' | ' | ' | 1,851 |
Stock issued for debt at $0.0835 per share on October 15, 2003 (Shares) | 22,222 | ' | ' | ' | ' |
Currency translation adjustment | ' | ' | -265 | ' | -265 |
Income (Loss) for the period | ' | ' | ' | -63,056 | -63,056 |
Ending Balance at Mar. 31, 2004 | 484,390 | 8,323 | -77 | -506,693 | -14,057 |
Ending Balance (Shares) at Mar. 31, 2004 | 8,684,486 | ' | ' | ' | ' |
Stock issued for cash at $0.039 per share on June 15, 2004 | 47,054 | ' | ' | ' | 47,054 |
Stock issued for cash at $0.039 per share on June 15, 2004 (Shares) | 1,200,000 | ' | ' | ' | ' |
Stock issued for cash at $0.039 per share on June 30, 2004 | 15,685 | ' | ' | ' | 15,685 |
Stock issued for cash at $0.039 per share on June 30, 2004 (Shares) | 400,000 | ' | ' | ' | ' |
Stock issued for cash at $0.039 per share on December 17, 2004 | 59,210 | ' | ' | ' | 59,210 |
Stock issued for cash at $0.039 per share on December 17, 2004 (Shares) | 1,510,000 | ' | ' | ' | ' |
Forgiveness of debt by a director and shareholder | ' | 3,921 | ' | ' | 3,921 |
Currency translation adjustment | ' | ' | -12,847 | ' | -12,847 |
Income (Loss) for the period | ' | ' | ' | -65,452 | -65,452 |
Ending Balance at Mar. 31, 2005 | 606,339 | 12,244 | -12,924 | -572,145 | 33,514 |
Ending Balance (Shares) at Mar. 31, 2005 | 11,794,486 | ' | ' | ' | ' |
Imputed interest from shareholder loan | ' | 350 | ' | ' | 350 |
Forgiveness of debt by a director and shareholder | ' | 34,798 | ' | ' | 34,798 |
Exercise of warrants at $0.042 per share on July 28, 2005 | 8,385 | ' | ' | ' | 8,385 |
Exercise of warrants at $0.042 per share on July 28, 2005 (Shares) | 200,000 | ' | ' | ' | ' |
Exercise of warrants at $0.042 per share on September 14, 2005 | 4,193 | ' | ' | ' | 4,193 |
Exercise of warrants at $0.042 per share on September 14, 2005 (Shares) | 100,000 | ' | ' | ' | ' |
Stock issued for debt at $0.042 per share on March 15, 2006 | 16,586 | ' | ' | ' | 16,586 |
Stock issued for debt at $0.042 per share on March 15, 2006 (Shares) | 395,600 | ' | ' | ' | ' |
Stock-based compensation on 450,000 options granted | ' | 31,972 | ' | ' | 31,972 |
Currency translation adjustment | ' | ' | 1,059 | ' | 1,059 |
Income (Loss) for the period | ' | ' | ' | -112,773 | -112,773 |
Ending Balance at Mar. 31, 2006 | 635,502 | 79,364 | -11,865 | -684,918 | 18,083 |
Ending Balance (Shares) at Mar. 31, 2006 | 12,490,086 | ' | ' | ' | ' |
Imputed interest from shareholder loan | ' | 939 | ' | ' | 939 |
Forgiveness of debt by a director and shareholder | ' | 31,643 | ' | ' | 31,643 |
Stock issued for cash at $0.044 per share on November 24, 2006 | 26,369 | ' | ' | ' | 26,369 |
Stock issued for cash at $0.044 per share on November 24, 2006 (Shares) | 600,000 | ' | ' | ' | ' |
Stock issued for cash at $0.044 per share on December 7, 2006 | 17,579 | ' | ' | ' | 17,579 |
Stock issued for cash at $0.044 per share on December 7, 2006 (Shares) | 400,000 | ' | ' | ' | ' |
Stock-based compensation on 100,000 options granted | ' | 7,932 | ' | ' | 7,932 |
Currency translation adjustment | ' | ' | -108 | ' | -108 |
Income (Loss) for the period | ' | ' | ' | -65,430 | -65,430 |
Ending Balance at Mar. 31, 2007 | 679,450 | 119,877 | -11,973 | -750,348 | 37,006 |
Ending Balance (Shares) at Mar. 31, 2007 | 13,490,086 | ' | ' | ' | ' |
Imputed interest from shareholder loan | ' | 1,126 | ' | ' | 1,126 |
Forgiveness of debt by a director and shareholder | ' | 34,950 | ' | ' | 34,950 |
Stock-based compensation on 100,000 options granted | ' | 8,787 | ' | ' | 8,787 |
Stock issued for debt at $0.0485 per share on May 4, 2007 | 2,548 | ' | ' | ' | 2,548 |
Stock issued for debt at $0.0485 per share on May 4, 2007 (Shares) | 52,500 | ' | ' | ' | ' |
Currency translation adjustment | ' | ' | 4,447 | ' | 4,447 |
Income (Loss) for the period | ' | ' | ' | -96,432 | -96,432 |
Ending Balance at Mar. 31, 2008 | 681,999 | 164,740 | -7,526 | -846,780 | -7,567 |
Ending Balance (Shares) at Mar. 31, 2008 | 13,542,586 | ' | ' | ' | ' |
Imputed interest from shareholder loan | ' | 2,228 | ' | ' | 2,228 |
Forgiveness of debt by a director and shareholder | ' | 31,932 | ' | ' | 31,932 |
Share-based Compensation | ' | 55,180 | ' | ' | 55,180 |
Currency translation adjustment | ' | ' | 10,232 | ' | 10,232 |
Income (Loss) for the period | ' | ' | ' | -172,863 | -172,863 |
Ending Balance at Mar. 31, 2009 | 681,999 | 254,080 | 2,706 | -1,019,643 | -80,858 |
Beginning Balance (Shares) at Mar. 31, 2009 | 13,542,586 | ' | ' | ' | ' |
Imputed interest from shareholder loan | ' | 4,997 | ' | ' | 4,997 |
Forgiveness of debt by a director and shareholder | ' | 33,015 | ' | ' | 33,015 |
Stock issued for acquisition of Coronus Energy Corp. on November 2, 2009 | 10,752 | 10,886 | ' | ' | 21,638 |
Stock issued for acquisition of Coronus Energy Corp. on November 2, 2009 (Shares) | 2,000,000 | ' | ' | ' | ' |
Share-based Compensation | ' | 26,144 | ' | ' | 26,144 |
Currency translation adjustment | ' | ' | -25,943 | ' | -25,943 |
Income (Loss) for the period | ' | ' | ' | -155,180 | -155,180 |
Ending Balance at Mar. 31, 2010 | 692,751 | 329,122 | -23,237 | -1,174,823 | -176,187 |
Ending Balance (Shares) at Mar. 31, 2010 | 15,542,586 | ' | ' | ' | ' |
Forgiveness of debt by a director and shareholder | ' | 35,420 | ' | ' | 35,420 |
Stock issued for cash at $0.402 per share on January 21, 2011 (net of share issuance cost) | 70,693 | ' | ' | ' | 70,693 |
Stock issued for cash at $0.402 per share on January 21, 2011 (net of share issuance cost) (Shares) | 212,500 | ' | ' | ' | ' |
Stock issued for construction of solar power plants on March 31, 2011 | 6,584,400 | ' | ' | ' | 6,584,400 |
Stock issued for construction of solar power plants on March 31, 2011 (Shares) | 10,974,000 | ' | ' | ' | ' |
Currency translation adjustment | ' | ' | -11,701 | ' | -11,701 |
Income (Loss) for the period | ' | ' | ' | -170,028 | -170,028 |
Ending Balance at Mar. 31, 2011 | 7,347,844 | 364,542 | -34,938 | -1,344,851 | 6,332,597 |
Ending Balance (Shares) at Mar. 31, 2011 | 26,729,086 | ' | ' | ' | ' |
Forgiveness of debt by a director and shareholder | ' | 38,165 | ' | ' | 38,165 |
Stock issued for cash at $0.624 per share on May 10, 2011 | 120,838 | 90,628 | ' | ' | 211,466 |
Stock issued for cash at $0.624 per share on May 10, 2011 (Shares) | 350,000 | ' | ' | ' | ' |
Stock issued for cash at $0.598 per share on October 24, 2011 | 5,770 | 4,501 | ' | ' | 10,271 |
Stock issued for cash at $0.598 per share on October 24, 2011 (Shares) | 17,000 | ' | ' | ' | ' |
Warrants and conversion beneficiary features | ' | 100,698 | ' | ' | 100,698 |
Currency translation adjustment | ' | ' | 8,706 | ' | 8,706 |
Income (Loss) for the period | ' | ' | ' | -370,798 | -370,798 |
Ending Balance at Mar. 31, 2012 | 7,474,452 | 598,534 | -26,232 | -1,715,649 | 6,331,105 |
Ending Balance (Shares) at Mar. 31, 2012 | 27,096,086 | ' | ' | ' | ' |
Stock cancelled for amendment of agreement on August 15, 2012 | -5,925,960 | ' | ' | ' | -5,925,960 |
Stock cancelled for amendment of agreement on August 15, 2012 (Shares) | -9,876,600 | ' | ' | ' | ' |
Currency translation adjustment | ' | ' | -1,803 | ' | -1,803 |
Income (Loss) for the period | ' | ' | ' | 326,991 | 326,991 |
Ending Balance at Mar. 31, 2013 | 1,548,492 | 598,534 | -28,035 | -1,388,658 | 730,333 |
Ending Balance (Shares) at Mar. 31, 2013 | 17,219,486 | ' | ' | ' | ' |
Forgiveness of debt by a director and shareholder | ' | ' | ' | ' | 0 |
Share-based Compensation | ' | ' | ' | ' | 0 |
Currency translation adjustment | ' | ' | -5,367 | ' | -5,367 |
Income (Loss) for the period | ' | ' | ' | 2,887,230 | 2,887,230 |
Ending Balance at Dec. 31, 2013 | $1,548,492 | $598,534 | ($33,402) | $1,498,572 | $3,612,196 |
Ending Balance (Shares) at Dec. 31, 2013 | 17,219,486 | ' | ' | ' | ' |
CONSOLIDATED_INTERIM_STATEMENT2
CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS (USD $) | 9 Months Ended | 145 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
OPERATING ACTIVITIES | ' | ' | ' |
Net income from operations | $2,887,230 | $1,254,728 | $1,498,572 |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' | ' |
Amortization - tangible and intangible assets | 23 | 4,211 | 57,392 |
Amortization - financing costs on promissory note | 146,568 | 3,253 | 227,074 |
Foreign exchange gain/loss | 0 | 0 | -20,930 |
Forgiveness of debt | 0 | 0 | 249,069 |
Imputed interests, net | -113,896 | 0 | -86,023 |
Share issued for services / debts | 0 | 0 | 26,301 |
Stock based compensation | 0 | 0 | 492,309 |
Amortization on discount of convertible notes | 0 | 87,143 | 102,121 |
Gain on sale of assets | 0 | -1,717,024 | -1,717,024 |
Gain on sale of subsidiaries | -3,420,612 | 0 | -3,420,612 |
Loss on transfer of land | 7,758 | 0 | 7,758 |
Write-down of land deposits | 2,612 | 0 | 14,890 |
Write down of website development costs | 0 | 0 | 17,390 |
Write-off CIP | 0 | 0 | 658,440 |
Write-off trademark cost | 0 | 0 | 279 |
Changes in non-cash working capital: | ' | ' | ' |
Other receivables | 24,315 | -7,407 | -9,094 |
Prepaid expenses and deposits | 16,450 | -1,243,687 | -609,547 |
Accounts payables and accrued liabilities | 167,774 | -113,416 | 271,765 |
NET CASH USED IN OPERATING ACTIVITIES | -281,778 | -1,732,199 | -2,239,870 |
INVESTING ACTIVITIES | ' | ' | ' |
Property, plant and equipment | 0 | 0 | -1,871 |
Project assets acquisition | -270,447 | -643,259 | -3,101,816 |
Land deposit | -2,658 | 0 | -51,081 |
Net proceeds on sale of subsidiaries | 10,000 | 0 | 10,000 |
Net proceeds on sales of assets | 0 | 1,723,710 | 1,723,710 |
Intangible asset | 0 | 0 | -369 |
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | -263,105 | 1,080,451 | -1,421,427 |
FINANCING ACTIVITIES | ' | ' | ' |
Issuance of common shares | 0 | 0 | 591,861 |
Financing costs on promissory note | 0 | -75,000 | 0 |
Senior secured promissory note | 519,567 | 1,500,000 | 3,341,161 |
Due to related party | -2,586 | 0 | -2,586 |
Loan from a shareholder | 0 | -243,373 | -44,554 |
Note payable | -232,374 | 0 | -195,274 |
Convertible note payable | 0 | -102,346 | -1,390 |
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | 284,607 | 1,079,281 | 3,689,218 |
EFFECT OF EXCHANGE RATE ON CASH | -5,414 | -1,181 | -8,621 |
NET INCREASE (DECREASE) IN CASH | -265,690 | 426,352 | 19,299 |
CASH AND CASH EQUIVALENTS - Beginning of Period | 284,989 | 327 | 0 |
CASH AND CASH EQUIVALENTS - End of Period | 19,299 | 426,679 | 19,299 |
SUPPLEMENTAL CASH FLOWS INFORMATION | ' | ' | ' |
Interest expense paid in cash | 17,014 | 45,724 | 91,947 |
Taxes paid in cash | 0 | 0 | 0 |
NON-CASH FINANCING ACTIVITIES | ' | ' | ' |
Issuance of common shares for acquisition of Coronus Energy Corp. | 0 | 0 | 21,638 |
Establishment of intangible asset through acquisition of Coronus Energy Corp. | 0 | 0 | 21,500 |
Issuance of common shares for construction of solar power plant | 0 | 0 | 6,584,400 |
Cancellation of common shares for amendment of the agreement | 0 | 5,295,960 | 5,925,960 |
Forgiveness of debt by a director and shareholder | 0 | 0 | 0 |
Settlement of Senior secured promissory note | $3,568,236 | $0 | $3,568,236 |
Nature_of_Operations
Nature of Operations | 9 Months Ended |
Dec. 31, 2013 | |
Nature of Operations [Text Block] | ' |
Note 1 – Nature of Operations | |
Coronus Solar Inc. (“the Company”) was incorporated under the Canada Business Corporations Act on December 3, 2001 under the name “The LectureNet Learning Corporation” and was registered extra-provincially in the Province of British Columbia on January 24, 2002. The name of the Company was changed to InsightfulMind Learning, Inc. effective August 26, 2002 and was further changed to Coronus Solar Inc. on November 3, 2009. | |
The Company’s current business is to deploy utility-scale solar power systems in the State of California, U.S.A. The Company is located in the City of Vancouver, Province of British Columbia, Canada. | |
On November 2, 2009, the Company completed an agreement (the “Share Purchase Agreement”) to acquire all of the issued and outstanding shares of Coronus Energy Corp. (“Coronus”), a start-up stage company founded to deploy and operate utility-scale solar power systems in the State of California. Under the Share Purchase Agreement, the Company acquired all of the outstanding shares of Coronus in exchange for 2,000,000 (post stock forward split) common shares of the Company, at a deemed value of $0.025 per share. | |
Under the Share Purchase Agreement, 2,025,000 common shares of the Company held by Mr. Jeff Thachuk, President of the Company, were transferred to Mr. Mark Burgert, the sole principal of Coronus, for $1, on August 19, 2009 and an aggregate of 905,000 (post stock forward split) stock options of the Company held by various persons were cancelled on August 10, 2009. Mr. Thachuk was appointed as a director and the Chairman, CEO, CFO, Secretary and Treasurer of Coronus, with Mr. Burgert continuing to hold the office of President of Coronus. | |
The transfer of the 2,025,000 common shares of the Company held by Mr. Thachuk to Mr. Burgert was treated, as a contribution by Mr. Thachuk, as part of the consideration for the acquisition of Coronus. Accordingly, a total of 4,025,000 common shares was determined as the consideration for the acquisition. | |
The Company engaged Mr. Burgert as a consultant, and in consideration for this engagement, granted to Mr. Burgert an aggregate of 350,000 options exercisable at a price of $0.065 per share. Additionally, the 9,050,000 common shares of the Company that are now collectively held between Messrs. Thachuk and Burgert have been placed into voluntary escrow, to be released to each of them on the basis of one common share each for each $0.50 earned in revenue by the Company on a consolidated basis. | |
The Company is considered a development stage company as defined by Financial Accounting Standards Board (“FASB”) Accounting Standards Codification ("ASC") Topic 915 “ Development Stage Entities” . The accompanying consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States, which contemplate continuation of the Company as a going concern. The Company has accumulated losses since its inception and requires additional funds to maintain and expand its intended business operations. In view of these matters, realization of a major portion of the assets in the accompanying balance sheet is dependent upon the continued operations of the Company, which in turn is dependent upon the Company's ability to meet its financing requirements, and the success of its future operations. |
Basis_of_Presentation_Going_Co
Basis of Presentation - Going Concern Uncertainties | 9 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Basis of Presentation - Going Concern Uncertainties [Text Block] | ' | ||||||
Note 2 – Basis of Presentation - Going Concern Uncertainties | |||||||
The Company's ability to continue as a going concern is in substantial doubt and is dependent upon obtaining additional financing and/or achieving a sustainable profitable level of operations. Management plans to obtain additional financing through the payment of the Contract Price under the Share Purchase and Development Services Agreement (see Note 8). These consolidated financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern and therefore be required to realize its assets and discharge its liabilities other than in the normal course of business. | |||||||
Information on the Company’s working capital and deficit is: | |||||||
December 31, | March 31, | ||||||
2013 | 2013 | ||||||
Working capital (deficiency) | $ | 935,427 | $ | (2,859,725 | ) | ||
Retained earnings (deficit) | 1,498,572 | (1,388,658 | ) |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 9 Months Ended |
Dec. 31, 2013 | |
Summary of Significant Accounting Policies [Text Block] | 'Note 3 – Summary of Significant Accounting Policies |
(a) Principles of consolidation | |
The accompanying consolidated financial statements include the accounts of Coronus Solar Inc. its 100% owned subsidiary, Coronus 29-Palms Morongo LLC, and until September 19, 2013, its 100% owned subsidiary, Coronus Energy Corp. and the 100% owned, subsidiaries of Coronus Energy Corp., namely, Coronus 29-Palms North 1 LLC, Coronus 29-Palms North 2 LLC, Coronus 29-Palms North 3 LLC, Coronus Yucca Valley East 1 LLC, Coronus Yucca Valley East 2 LLC, Coronus Yucca Valley East 3 LLC, Coronus Joshua Tree East 1 LLC, Coronus Joshua Tree East 2 LLC, Coronus Joshua Tree East 3 LLC, Coronus Joshua Tree East 4 LLC, Coronus Joshua Tree East 5 LLC, Coronus Apple Valley East 1 LLC, Coronus Apple Valley East 2 LLC, Coronus Adelanto West 1 LLC and Coronus Adelanto West 2 LLC. The corresponding comparative figures include the accounts of Coronus Solar Inc. and its 100% owned subsidiaries, Coronus Energy Corp. and Coronus 29-Palms Morongo LLC, and the 100% owned, subsidiaries of Coronus Energy Corp., namely, Coronus 29-Palms North 1 LLC, Coronus 29-Palms North 2 LLC, Coronus 29-Palms North 3 LLC, Coronus Yucca Valley East 1 LLC, Coronus Yucca Valley East 2 LLC, Coronus Yucca Valley East 3 LLC, Coronus Joshua Tree East 1 LLC, Coronus Joshua Tree East 2 LLC, Coronus Joshua Tree East 3 LLC, Coronus Joshua Tree East 4 LLC, Coronus Joshua Tree East 5 LLC, Coronus Apple Valley East 1 LLC, Coronus Apple Valley East 2 LLC, Coronus Adelanto West 1 LLC and Coronus Adelanto West 2 LLC, (collectively, the “Company”). All significant inter-company transactions and accounts have been eliminated in consolidation. | |
(b) Basis of presentation | |
The accompanying unaudited consolidated interim financial statements have been prepared in accordance with the instructions from Form 10-Q pursuant to the rules and regulations of the Securities and Exchange Commission and, therefore, do not include all information and notes normally provided in the audited financial statements and should be read in conjunction with the Company’s audited consolidated financial statements for fiscal year ended March 31, 2013 filed with the United States Securities and Exchange Commission. The result of operations for the interim periods presented is not necessarily indicative of the results to be expected for the full year. | |
The accompanying unaudited consolidated interim balance sheets, statements of operations and comprehensive income (loss), stockholders’ equity and cash flows reflected all adjustments, consisting of normal recurring adjustments, that are, in the opinion of management, necessary for a fair presentation of the financial position of the Company, at December 31, 2013 and March 31, 2013, and the results of operations and cash flows for the three and nine months periods ended December 31, 2013 and 2012, and for the period from December 3, 2001 (Date of Commencement) to December 31, 2013. |
Accounting_Pronouncements_Adop
Accounting Pronouncements Adopted During the Period | 9 Months Ended |
Dec. 31, 2013 | |
Accounting Pronouncements Adopted During the Period [Text Block] | ' |
Note 4 – Accounting Pronouncements Adopted During the Period | |
(a) Disclosures about offsetting assets and liabilities | |
On April 1, 2013, the Company adopted ASU 2011-11, “Disclosures about Offsetting Assets and Liabilities” , which is in an effort to improve comparability between US GAAP and IFRS financial statements with regard to the presentation of offsetting assets and liabilities on the statement of financial position arising from financial and derivative instruments, and repurchase agreements. The ASU establishes additional disclosures presenting the gross amounts of recognized assets and liabilities, offsetting amounts, and the net balance reflected in the statement of financial position. Descriptive information regarding the nature and rights of the offset must also be disclosed. The adoption of the new guidance is not expected to have an impact on the Company’s financial statements. | |
(b) Comprehensive income | |
On April 1, 2013, the Company adopted ASU 2013-02, " Comprehensive Income (Topic 220); Reporting of Amounts Reclassified out of Accumulated Other Comprehensive Income. " This updated guidance improves the reporting of significant items reclassified out of accumulated other comprehensive income and requires an entity to present, either on the face of the statement where net income is presented or in the notes, separately for each component of comprehensive income, the current period reclassifications out of accumulated other comprehensive income by the respective line items of net income affected by the reclassification. Other than requiring additional disclosures, the adoption did not have an effect on our consolidated financial statements. |
New_Accounting_Pronouncements_
New Accounting Pronouncements Not Yet Adopted | 9 Months Ended |
Dec. 31, 2013 | |
New Accounting Pronouncements Not Yet Adopted [Text Block] | ' |
Note 5 – New Accounting Pronouncements Not Yet Adopted | |
(a) Foreign currency | |
In March 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update ("ASU") 2013-05, " Foreign Currency Matters (Topic 830); Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity. " This guidance applies to the release of the cumulative translation adjustment into net income when a parent either sells a part or all of its investment in a foreign entity or no longer holds a controlling financial interest in a subsidiary or group of assets that is a business (other than a sale of in substance real estate or conveyance of oil and gas mineral rights) within a foreign entity. ASU No. 2013-05 is effective prospectively for fiscal years (and interim reporting periods within those years) beginning after December 15, 2013. We will adopt this guidance beginning with our fiscal quarter starting from April 1, 2014. We are currently reviewing the provisions of ASU No. 2013-05 on our consolidated financial statements. | |
(b) Unrecognized tax benefits | |
In July 2013, the FASB issued authoritative guidance under Accounting Standard Update ("ASU") 2013-11, which provides guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss (“NOL”) carryforward, a similar tax loss, or a tax credit carryforward exists. ASU 2013-11 requires entities to present an unrecognized tax benefit as a reduction of a deferred tax asset for a NOL or tax credit carryforward whenever the NOL or tax credit carryforward would be available to reduce the additional taxable income or tax due if the tax position is disallowed. This accounting standard update requires entities to assess whether to net the unrecognized tax benefit with a deferred tax asset as of the reporting date. ASU 2013-11 will be effective for the Company’s first quarter of fiscal 2014. The Company is currently evaluating the impact of this accounting standard update on its consolidated financial statements. | |
Other accounting standards that have been issued or proposed by the FASB or other standards-setting bodies that do not require adoption until a future date are not expected to have a material impact on the Company’s financial statements upon adoption. |
Earnings_Loss_per_Share
Earnings (Loss) per Share | 9 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Earnings (Loss) per Share [Text Block] | ' | ||||||||||||
Note 6 – Earnings (Loss) per Share | |||||||||||||
The calculation of basic earnings per share for the three months and nine months ended December 31, 2013 was based on the net income attributable to common shareholders of $41,299 and $2,887,230 respectively, and a weighted average number of common shares outstanding of 17,219,486 and 17,219,486, respectively. | |||||||||||||
The calculation of basic earnings per share for the three months and nine months ended December 31, 2012 was based on the net loss attributable to common shareholders of $118,132 and the net income of $1,254,728 respectively, and a weighted average number of common shares outstanding of 17,219,486 and 22,103,914, respectively. | |||||||||||||
The calculation of diluted earnings per share for the three months and nine months ended December 31, 2013 was based on the net income attributable to common shareholders of $41,299 and $2,887,230 respectively, and a diluted weighted average number of common shares outstanding of 18,044,803 and 18,044,803. | |||||||||||||
The calculation of diluted loss per share for the three months ended December 31, 2112 was based on the net loss attributable to common shareholders of $118,132 and a diluted weight average number of common shares outstanding of 17,219,486. The dilutive share purchase options and warrants were not included in the calculation as the effect would be anti-dilutive. | |||||||||||||
The calculation of diluted earnings per share for the nine months ended December 31, 2012 was based on the net income attributable to common shareholders of $1,254,728, and a diluted weighted average number of common shares outstanding of 22,929,230. | |||||||||||||
(a) Basic earnings per share | |||||||||||||
Weighted average number of common shares for basic earnings (loss) per share calculations: | |||||||||||||
Three months ended | Nine months ended | ||||||||||||
December 31, | December 31, | ||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||
Issued common share at beginning of period | 17,219,486 | 17,219,486 | 17,219,486 | 27,096,086 | |||||||||
Cancelled during the period | - | - | - | (4,992,172 | ) | ||||||||
Weighted average number of common shares at end of period | 17,219,486 | 17,219,486 | 17,219,486 | 22,103,914 | |||||||||
(b) Diluted earnings per share | |||||||||||||
Weighted average number of common shares for diluted earnings (loss) per share calculations: | |||||||||||||
Three months ended | Nine months ended | ||||||||||||
December 31, | December 31, | ||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||
Basic weighted average number of common shares at December 31 | 17,219,486 | 17,219,486 | 17,219,486 | 22,103,914 | |||||||||
Effect of share options on issue | 691,900 | - | 691,900 | 691,900 | |||||||||
Effect of share warrants on issue | 133,416 | - | 133,416 | 133,416 | |||||||||
Diluted Weighted average number of common shares at December 31 | 18,044,803 | 17,219,486 | 18,044,803 | 22,929,230 | |||||||||
The average market value of the Company’s shares for purposes of calculating the dilutive effect of share purchase options and warrants was based on quoted market prices for the period during which the options were outstanding. | |||||||||||||
Prepaid_expenses_and_deposits
Prepaid expenses and deposits | 9 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Prepaid expenses and deposits [Text Block] | ' | ||||||
Note 7 – Prepaid expenses and deposits | |||||||
Prepaid expenses and deposits at December 31, 2013 and March 31, 2013 were summarized as follows: | |||||||
December 31, | March 31, | ||||||
2013 | 2013 | ||||||
Current | |||||||
Prepaid expenses | $ | 166 | $ | 766 | |||
Prepaid expenses -Utility Interconnection Studies | - | 25,900 | |||||
Land deposit (a) | - | 1,000 | |||||
Long term | |||||||
Development security deposit | - | 564,150 | |||||
$ | 166 | $ | 591,816 | ||||
(a) Land deposit | |||||||
On October 24, 2012, the Company’s then wholly-owned subsidiary, Coronus Energy Corp. (“Coronus”), entered into a Vacant Land Purchase Agreement (the “29-Palms Morongo Agreement”) to acquire a 24.23 acre parcel of vacant land, situated north of 29-Palms, in the County of San Bernardino, California. The purchase price for the land was $86,683, all cash. Coronus deposited $1,000 into escrow and agreed to deposit an additional $85,683 within sufficient time to close escrow. On January 31, 2013, the parties to the 29-Palms Morongo Agreement replaced Coronus as purchaser with the Company’s wholly-owned subsidiary, Coronus 29-Palms Morongo LLC (“Coronus 29-Palms Morongo”). Effective May 3, 2013, the parties further amended the 29-Palms Morongo Agreement, wherein the parties agreed to an option arrangement where an option (the “Option”) to purchase the 24.23 acre parcel of vacant land was adopted, with the following terms: 1) Coronus 29-Palms Morongo pays monthly payments equal to 6% per annum of the purchase price, or $433.42 per month, 2) the monthly payments are applied to the purchase price, provided Coronus 29-Palms Morongo exercises the Option, otherwise the payments are forfeited to the seller, 3) the term of the Option is 24 months, 4) failure to make the monthly payment terminates the Option, and 5) during the term of the Option, the seller provides the necessary consent for Coronus 29-Palms Morongo to apply for a conditional use permit from the County of San Bernardino. The 29-Palms Morongo Agreement was cancelled on December 4, 2013. The $1,000 escrow deposit was reclassified as other receivable and the balance of land deposit, $2,612, was written off to the consolidated statements of operations and comprehensive income. |
Disposition_of_Coronus_Energy_
Disposition of Coronus Energy Corp. and its wholly-owned subsidiaries (Coronus) | 9 Months Ended | |||
Dec. 31, 2013 | ||||
Disposition of Coronus Energy Corp. and its wholly-owned subsidiaries (Coronus) [Text Block] | ' | |||
Note 8 - Disposition of Coronus Energy Corp. and its wholly-owned subsidiaries (“Coronus”) | ||||
On August 9, 2013, the Company and Coronus Energy Corp. (“Coronus”), the Company’s then wholly-owned subsidiary, entered into a share purchase and development services agreement (the “Share Purchase and Development Services Agreement”) with Redwood Solar Development LLC (“Redwood”). On September 19, 2013, the parties closed on the Share Purchase and Development Services Agreement. | ||||
On December 20, 2012, Coronus and Coronus’ wholly-owned subsidiaries, conducted a non-brokered private placement, issuing a senior secured, promissory note (the “Note”) to Clean Focus Financing Company, LP (“Clean Focus”), for proceeds of up to $4,000,000 (the “Loan”). | ||||
Under the Share Purchase and Development Services Agreement, the Company agreed to sell 100% of the issued and outstanding shares of Coronus to Redwood, in addition to performing certain development services in respect of the twelve anticipated, utility-scale, solar photovoltaic (PV) projects of Coronus, for $8,775,000 (the “Contract Price”). Redwood was to pay the Contract Price by issuing a non-interest bearing, secured debenture (the “Redwood Debenture”) to the Company. On September 19, 2013, at closing, Redwood issued the Redwood Debenture to the Company. | ||||
At closing, on the transfer of Coronus to Redwood, all then outstanding advances under the Loan, together with all accrued but unpaid interest, were assumed as part of the transfer. | ||||
The Contract Price, based on an agreed upon price of dollars per peak installed watt, is the estimated final output capacity of the twelve anticipated, utility-scale, solar PV projects of Coronus, and is based on the aggregate of the value of the installed solar PV systems and the value of the development services to be performed by the Company. The payment of the Contract Price, and the corresponding retirement of the Redwood Debenture, is as follows: 1) $1,000 was paid to the Company on the execution of the Share Purchase and Development Services Agreement on August 9, 2013; 2) $9,000 was paid to the Company on closing on September 19, 2013; 3) after four solar PV systems have met certain conditions, inclusive of the receipt of conditional use permits, a payment of 5% of the Contract Price, per solar PV system, shall be paid to the Company; and 4) the balance of the Contract Price shall be pro-rated among the twelve solar PV systems with each pro-rata portion paid to the Company on permanent financial close in connection with the construction of each system. 5) the maturity date of Redwood Debenture is February 15, 2015. | ||||
Under the Share Purchase and Development Services Agreement, the Contract Price is subject to adjustment, upwards or downwards, as appropriate, based, in part, on the following parameters: installed capacity; development expense budget true-up; interconnection refund true-up; and Coronus financial statements true-up. Under the Share Purchase and Development Services Agreement, Redwood agrees to fund, and the Contract Price reflects Redwood funding, certain development expenses that are separate and aside from the Contract Price. The Redwood Debenture security interests received by the Company are subordinate and junior to the interests securing the Loan, as well as subordinate and junior to all future draws under the Loan where the proceeds are used to fund those certain development expenses. | ||||
The net present value of the sales proceeds according to projected collection dates equalled sales proceeds after adjustment for an imputed annual discount rate of 12% and probability of success ratio ranging from 25% to 80% per solar PV system. The fair value calculation of sales proceed is preliminary and is subject to change in future period due to possible adjustments in the valuation assumptions. | ||||
Sales proceeds | $ | 4,390,988 | ||
Less: net book value of assets sold | (92,178 | ) | ||
additional development cost to be incurred (1) | (878,198 | ) | ||
Gain on disposal of the subsidiaries | $ | 3,420,612 | ||
-1 | The Company still has to incur additional development costs equivalent to approximately 20% of the total sales proceeds of the subsidiaries in order to earn the related sales proceeds [see Notes 14(i) and 14 (ii)]. The net present value of the additional development costs to be incurred was $878,198 after adjusting for an imputed annual discount rate of 12% and probability of success ratio ranging from 25% to 80% per solar PV system. | |||
As at December 31, 2013, the Company recorded a gain of $3,420,612 on disposal of the subsidiaries. |
Property_Plant_and_Equipment
Property, Plant and Equipment | 9 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Property, Plant and Equipment [Text Block] | ' | |||||||||
Note 9 – Property, Plant and Equipment | ||||||||||
Property, plant and equipment at December 31, 2013 and March 31, 2013 were summarized as follows: | ||||||||||
Accumulated | Net book | |||||||||
31-Dec-13 | Cost | depreciation | value | |||||||
Office equipment | $ | 1,290 | $ | 1,192 | $ | 98 | ||||
Computer equipment | 987 | 969 | 18 | |||||||
Land* | 119,361 | - | 119,361 | |||||||
$ | 121,638 | $ | 2,161 | $ | 119,477 | |||||
Accumulated | Net book | |||||||||
31-Mar-13 | Cost | depreciation | value | |||||||
Office equipment | $ | 1,351 | $ | 1,231 | $ | 120 | ||||
Computer equipment | 1,034 | 1,008 | 26 | |||||||
Land* | 126,856 | - | 126,856 | |||||||
$ | 129,241 | $ | 2,239 | $ | 127,002 | |||||
* Land | ||||||||||
(i) 29-Palms East | ||||||||||
Such represents a 30 acre parcel of vacant land, situated east of Twentynine Palms, in the County of San Bernardino, California. The purchase price was $32,000. The Company owns this land unencumbered. At this point in time, the Company has opted not to pursue interconnection agreements for solar PV power systems sited on this parcel. | ||||||||||
(ii) Newberry Springs | ||||||||||
Such represents a 20 acre parcel of vacant land, situated in Newberry Springs, in the County of San Bernardino, California. The purchase price was $45,000. The previous owner holds a $37,000 note against the property, due March 17, 2014, at 6.5% per annum interest, with monthly payments of interest only. At this point in time, the Company has opted not to pursue interconnection agreements for solar PV power systems sited on this parcel. | ||||||||||
(iii) 29-Palms North | ||||||||||
Such represents a 39.25 acre parcel of vacant land, situated north of Twentynine Palms, in the County of San Bernardino, California. The purchase price was $40,000. The Company owns this land unencumbered. At this point in time, the Company has opted not to pursue interconnection agreements for solar PV power systems sited on this parcel. |
Disposition_of_Coronus_Hesperi
Disposition of Coronus Hesperia West 1 LLC & Coronus Hesperia West 2 LLC | 9 Months Ended | |||
Dec. 31, 2013 | ||||
Disposition of Coronus Hesperia West 1 LLC & Coronus Hesperia West 2 LLC [Text Block] | ' | |||
Note 10 - Disposition of Coronus Hesperia West 1 LLC & Coronus Hesperia West 2 LLC | ||||
On April 5, 2012, the Company’s then wholly-owned subsidiary, Coronus Energy Corp. (“Coronus”), entered into a Solar Photovoltaic Asset Sale Agreement (the “Sycamore Solar PV Asset Sale Agreement”) with Sycamore Physicians Partners LLC (“Sycamore”). Under the Sycamore Solar PV Asset Sale Agreement, Coronus agreed to sell, assign and transfer to Sycamore, Coronus’ sole membership in Coronus Hesperia West 1 LLC. On March 19, 2012, Coronus Hesperia West 1 LLC entered into a Power Purchase Agreement (“PPA”) with Southern California Edison (“SCE”). The PPA relates to Coronus’ application for interconnection service and the CREST tariff for a 1.2 MW solar PV power system on a 20 acre parcel of vacant land, situated west of Hesperia, in the County of San Bernardino, California, Coronus agreed to acquire pursuant to a vacant land purchase agreement (the “Hesperia West Agreement”). Additionally, under the Sycamore Solar PV Asset Sale Agreement, Coronus agreed to assign to Sycamore, the Hesperia West Agreement. Further, under the Sycamore Solar PV Asset Sale Agreement, Coronus agreed to use its best efforts to obtain a second PPA from SCE in relation to the Hesperia West 20 acre parcel, and to sell this PPA (relating to a 1.5 MW solar PV system) to Sycamore if obtained. | ||||
Under the Sycamore Solar PV Asset Sale Agreement, Sycamore agreed to pay $1,726,219 (the “Basic Price”) to Coronus for the sole ownership in Coronus Hesperia West 1 LLC, the assignment of the Hesperia West Agreement, and the second PPA. On executing the Sycamore Solar PV Asset Sale Agreement, Sycamore agreed to pay $817,200 (paid) to Coronus, and Coronus agreed to transfer the sole membership in Coronus Hesperia West 1 LLC to Sycamore and to assign the Hesperia West Agreement to Sycamore. Under the Sycamore Solar PV Asset Sale Agreement, Sycamore agreed to pay the balance of the Basic Price, or $909,019 (paid), to Coronus on delivery of the second PPA. On April 11, 2012, Sycamore paid the $817,200 to Coronus, and on April 12, 2012, Coronus transferred the sole ownership in Coronus Hesperia West 1 LLC to Sycamore and assigned the Hesperia West Agreement to Sycamore. | ||||
On August 30, 2012, Coronus’ wholly-owned subsidiary, Coronus Hesperia West 2 LLC, entered into a PPA with SCE. Having obtained the second PPA on the Hesperia West land parcel, on September 6, 2012, Sycamore paid the balance of the Basic Price, of $909,019 to Coronus, and Coronus transferred the sole membership in Coronus West 2 LLC to Sycamore, thus concluding the Sycamore Solar PV Asset Sale Agreement. | ||||
The Company recorded a gain on the sale of Coronus Hesperia West 1 LLC and Coronus Hesperia West 2 LLC of $1,717,024 as of September 30, 2012. Details are as follows: | ||||
Cash consideration | $ | 1,726,219 | ||
Less: net book value of assets sold | 9,195 | |||
$ | 1,717,024 |
Debenture_Receivable
Debenture Receivable | 9 Months Ended |
Dec. 31, 2013 | |
Debenture Receivable [Text Block] | 'Note 11 – Debenture Receivable |
On August 9, 2013, the Company and Coronus Energy Corp. (“Coronus”), the Company’s then wholly-owned subsidiary, entered into a share purchase and development services agreement (the “Share Purchase and Development Services Agreement”) with Redwood Solar Development LLC (“Redwood”) (see Note 8). On September 19, 2013, the parties closed on the Share Purchase and Development Services Agreement. Under the Share Purchase and Development Services Agreement, the Company agreed to sell 100% of the issued and outstanding shares of Coronus to Redwood, in addition to performing certain development services in respect of the twelve anticipated, utility-scale, solar photovoltaic (PV) projects of Coronus, for $8,775,000 (the “Contract Price”). Redwood was to pay the Contract Price by issuing a non-interest bearing, secured debenture (the “Redwood Debenture”) to the Company. On September 19, 2013, at closing, Redwood issued the Redwood Debenture to the Company. On September 19, 2013, at closing, the net present value of the Redwood Debenture was $4,390,988 after adjusting for an imputed annual discount rate of 12% and probability of success ratio ranging from 25% to 80%, per solar PV project. | |
The maturity date of the Redwood Debenture is February 15, 2015. | |
As of December 31, 2013, the net present value of the Redwood Debenture was $4,493,045 after adjusting for the cash received of $10,000, price adjustments on closing of $30,313 and imputed interest income of $142,370. The fair value of debenture receivable is preliminary and is subject to change in future period due to possible adjustments in the valuation assumptions. |
Stockholders_Equity
Stockholders Equity | 9 Months Ended | |||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||
Stockholders Equity [Text Block] | ' | |||||||||||||||||||||
Note 12 – Stockholders’ Equity | ||||||||||||||||||||||
(a) Common Stock | ||||||||||||||||||||||
On December 5, 2001, the Company (i) issued 6,750,000 common shares for cash to the founder and sole director of the Company at $0.0002 per share; (ii) issued 75,000 common shares for service to a party related to the founder of the Company at $0.0525 per share; and (iii) issued 300,000 common shares for cash to the sole director of the Company pursuant to a private placement at $0.0525 per share. The Company recorded the 6,750,000 shares issued to the founder at fair value at $0.0525 per share and recorded a stock based compensation of $352,337. | ||||||||||||||||||||||
For the fiscal year ended March 31, 2003, the Company issued (i) 235,294 units for cash at $0.055 per unit for total proceeds of $12,916 ; (ii) issued 500,004 common shares for cash at $0.0725 per share for total proceeds of $36,326 ; (iii) issued 235,294 common shares upon the exercise of warrants for cash at $0.055 per share for total proceeds of $12,916 ; and (iv) issued 22,222 common shares for the settlement of debt at $0.0725 per share for the total debt of $1,615. In connection with the above unit issuance, each unit consisted of one common share and one share purchase warrant with an exercise price at $0.055 per share. The Company adopted the residual approach and allocated the total proceeds to the common shares and $nil to the share purchase warrants. | ||||||||||||||||||||||
For the fiscal year ended March 31, 2004, the Company (i) issued 500,006 common shares for cash at $0.0835 per share for total proceeds of $41,644 ; and (ii) issued 66,666 common shares for the settlement of the debt at $0.0835 for the total debt of $5,552. | ||||||||||||||||||||||
For the fiscal year ended March 31, 2005, the Company (i) issued 1,200,000 units for cash at $0.039 per unit for total proceeds of $47,054 ; and (ii) issued 1,910,000 common shares for cash at $0.039 per share for total proceeds of $74,895. Each unit consisted of one common share and one share purchase warrant with an exercise price at $0.039 per share. The Company adopted the residual approach and allocated the total proceeds to the common stocks and $nil to the share purchase warrants | ||||||||||||||||||||||
For the fiscal year ended March 31, 2006, the Company (i) issued 300,000 common shares at $0.042 per share pursuant to the exercise of warrants for total proceeds of $12,578 ; and (ii) issued 395,600 common shares at $0.042 per share for the settlement of debt of $16,586. | ||||||||||||||||||||||
For the fiscal year ended March 31, 2007, the Company issued 1,000,000 common shares for cash at $0.044 per share for total proceeds of $43,948. | ||||||||||||||||||||||
For the fiscal year ended March 31, 2008, the Company issued 52,500 common shares at $0.0485 per share for the settlement of debt of $2,548. | ||||||||||||||||||||||
On November 2, 2009, the Company issued 2,000,000 common shares in connection with the acquisition of all the issued and outstanding shares of Coronus at a deemed value of $0.025 per share. These shares were recorded, proportionately with the shares transferred by Mr. Jeff Thachuk to Mr. Mark Burgert, based on the fair value of the assets acquired. | ||||||||||||||||||||||
On January 21, 2011, the Company completed a non-brokered private placement, issuing 212,500 shares of common stock to eleven investors, at a price of CAD$0.402 per share, for gross proceeds of CAD$85,000. In connection with the completion of the private placement, the Company paid CAD$7,500 in finder’s fees in cash, to certain arm’s length parties, and CAD$6,807 in legal, accounting, transfer agent and filing fees. | ||||||||||||||||||||||
On March 31, 2011, the Company and its wholly-owned subsidiary, Coronus Energy Corp. (“Coronus”), entered into a purchase agreement for utility-scale, ground-mount, solar photovoltaic (“PV”) power systems (the “Solar Power Systems Agreement”) with Belectric, Inc. (“Belectric”). Under the Solar Power Systems Agreement, Coronus agreed to acquire a total of 21 MW ac of utility-scale, ground-mount, solar PV power systems from Belectric, for total consideration of $76,818,000, exclusive of taxes (the “Basic Price”). On entering into the Solar Power Systems Agreement, the Company paid 15% of the Basic Price, or $11,522,700, by way of issuing 10,974,000 shares of its common stock to Belectric, at a deemed value of $1.05 per share. The fair value per share at the date of issuance was $0.60. As a result, $6,584,400 was recorded under shareholders’ equity and construction in progress. | ||||||||||||||||||||||
On May 10, 2011, the Company completed a non-brokered private placement of 350,000 units at a price of CAD $0.60 per unit for proceeds of CAD $210,000. Each unit was comprised of one common share in the capital of the Company and one non-transferrable share purchase warrant. Each warrant entitles the holder thereof to purchase a further common share at an exercise price of CAD $0.75 for a period of five years. The value assigned to the underlying warrants was CAD$90,000 ($93,652). | ||||||||||||||||||||||
On October 24, 2011, the Company completed a non-brokered private placement of 17,000 units at a price of CAD$0.60 per unit for gross proceeds of CAD$10,200. Each unit is comprised of one common share in the capital of the Company and one non-transferrable share purchase warrant. Each warrant entitles the holder thereof to purchase a further common share at an exercise price of CAD $0.75 for a period of five years. The value assigned to the underlying warrants was CAD$4,470 ($4,452). | ||||||||||||||||||||||
On August 15, 2012, the Company amended the purchase agreement for utility-scale, ground-mount, solar photovoltaic (PV) power systems (the “Solar Power Systems Agreement”), the Company entered into with Coronus and Belectric Inc. (“Belectric”), on March 31, 2011. Under the amended agreement (the “Amended Solar Power Systems Agreement”), 9,876,600 of the Original Payment Shares were cancelled on August 15, 2012, at the deemed price of $1.05 per share. The fair value per share at the date of cancellation was $0.60. | ||||||||||||||||||||||
As at December 31, 2013, 10,226,900 (March 31, 2013: 10,226,900) shares of the Company’s common stock were restricted shares. | ||||||||||||||||||||||
(b) Stock Options | ||||||||||||||||||||||
Since inception, the Company has entered into various stock option agreements with its directors, employees and consultants. | ||||||||||||||||||||||
During the period ended December 31, 2013 and year ended March 31, 2013, there were no options granted or exercised. | ||||||||||||||||||||||
Changes in stock options for the period ended December 31, 2013 and year ended March 31, 2013 are summarized as follows: | ||||||||||||||||||||||
Options Outstanding | ||||||||||||||||||||||
Weighted average | ||||||||||||||||||||||
Number of | exercise | |||||||||||||||||||||
shares | price | |||||||||||||||||||||
Balance, March 31, 2012 | 745,000 | $ | 0.065 | |||||||||||||||||||
Expired | (5,000 | ) | 0.105 | |||||||||||||||||||
Balance, March 31, 2013 and December 31, 2013 | 740,000 | $ | 0.065 | |||||||||||||||||||
The Company has the following options outstanding and exercisable at December 31, 2013: | ||||||||||||||||||||||
Outstanding | Exercisable | |||||||||||||||||||||
Weighted | ||||||||||||||||||||||
Number | Average | Weighted | Number | Weighted | ||||||||||||||||||
Outstanding at | Remaining | Average | Exercisable at | Average | ||||||||||||||||||
December 31, | Contractual | Exercise | December 31, | Exercise | ||||||||||||||||||
2013 | Life (Years) | Price | 2013 | Price | ||||||||||||||||||
740,000 | 1.9 | $ | 0.065 | 740,000 | $ | 0.065 | ||||||||||||||||
The Company has the following options outstanding and exercisable at March 31, 2013: | ||||||||||||||||||||||
Outstanding | Exercisable | |||||||||||||||||||||
Weighted | ||||||||||||||||||||||
Number | Average | Weighted | Number | Weighted | ||||||||||||||||||
Outstanding at | Remaining | Average | Exercisable at | Average | ||||||||||||||||||
March 31, | Contractual | Exercise | March 31, | Exercise | ||||||||||||||||||
2013 | Life (Years) | Price | 2013 | Price | ||||||||||||||||||
740,000 | 2.65 | $ | 0.065 | 740,000 | $ | 0.065 | ||||||||||||||||
(c) Warrants | ||||||||||||||||||||||
On May 10, 2011, the Company completed a non-brokered private placement, issuing 350,000 units (the “Units”), at a price of CAD$0.60 per Unit, for proceeds of CAD$210,000. Each Unit was comprised of one common share in the capital of the Company and one non-transferrable share purchase warrant. Each warrant entitles the holder thereof to purchase a further common share at an exercise price of CAD$0.75 for a period of five years. The Company determined the fair value of the warrants to be $0.257 per warrant using the Black-Scholes option pricing model. | ||||||||||||||||||||||
On October 24, 2011, the Company completed a non-brokered private placement of 17,000 units at a price of CAD$0.60 per unit for gross proceeds of CAD$10,200. Each unit is comprised of one common share in the capital of the Company and one non-transferrable share purchase warrant. Each warrant entitles the holder thereof to purchase a further common share at an exercise price of CAD $0.75 for a period of five years. The Company determined the fair value of the warrants to be $0.263 per warrant using the Black-Scholes option pricing model. | ||||||||||||||||||||||
On February 2, 2012, the Company issued a convertible promissory note for CAD$50,000 and 83,333 transferrable warrants for gross proceeds of CAD$50,000. On February 23, 2012, the Company issued a second convertible promissory note for CAD$50,000 and a further 83,333 transferrable warrants for gross proceeds of CAD$50,000. These convertible promissory notes, totalling CAD$100,000, matured on February 2, 2013, and bore an annual interest rate of 12%. The holders of the notes could convert the note and accrued interest, at or before the maturity date, into common shares of the Company at CAD$0.60 each. Each warrant entitles the holder thereof to purchase a further common share of the Company at an exercise price of CAD$0.75 for a period of five years. The Company determined the fair value of the warrants to be CAD$0.7816 per warrant using the Black-Scholes option pricing model. | ||||||||||||||||||||||
The relative estimated fair value of the warrants in relation to the private placements in May 2011, October 2011, and February 2012 were CAD$90,000 (USD$90,628), CAD$4,470 (USD$4,501), and CAD$56,571 (USD$56,966), respectively, and were allocated to the additional paid-in capital. | ||||||||||||||||||||||
(c) Warrants - Continued | ||||||||||||||||||||||
During the period ended December 31, 2013 and year ended March 31, 2013, the Company did not issue any warrants. At December 31, 2013, 533,666 (March 31, 2013: 533,666) warrants remained outstanding. | ||||||||||||||||||||||
The Company has the following warrants outstanding at December 31, 2013: | ||||||||||||||||||||||
Exercise | Average | |||||||||||||||||||||
Balance | Issued | Exercised | Cancelled | Balance | Exercise | price | Remaining | |||||||||||||||
as at | during the | during the | during the | as at | price | (USD | Contractual | |||||||||||||||
3/31/13 | period | period | period | 12/31/13 | (CAD) | equivalent) | Life in Years | |||||||||||||||
350,000 | - | - | - | 350,000 | $ | 0.75 | $ | 0.8 | 2.36 | |||||||||||||
17,000 | - | - | - | 17,000 | 0.75 | 0.8 | 2.82 | |||||||||||||||
166,666 | - | - | - | 166,666 | 0.75 | 0.8 | 3.09 | |||||||||||||||
533,666 | - | - | - | 533,666 | $ | 0.75 | $ | 0.8 | 2.6 | |||||||||||||
The Company has the following warrants outstanding at March 31, 2013: | ||||||||||||||||||||||
Exercise | Average | |||||||||||||||||||||
Balance | Issued | Exercised | Cancelled | Balance | Exercise | price | Remaining | |||||||||||||||
as at | during the | during the | during the | as at | price | (USD | Contractual | |||||||||||||||
31/03/2012 | period | period | period | 31/03/2013 | (CAD) | equivalent) | Life in Years | |||||||||||||||
350,000 | - | - | - | 350,000 | $ | 0.75 | $ | 0.75 | 3.11 | |||||||||||||
17,000 | - | - | - | 17,000 | 0.75 | 0.75 | 3.57 | |||||||||||||||
166,666 | - | - | - | 166,666 | 0.75 | 0.75 | 3.85 | |||||||||||||||
533,666 | - | - | - | 533,666 | $ | 0.75 | $ | 0.75 | 3.37 | |||||||||||||
The warrants are not a derivative instrument. |
Contingent_Liabilities
Contingent Liabilities | 9 Months Ended |
Dec. 31, 2013 | |
Contingent Liabilities [Text Block] | ' |
Note 13 – Contingent Liabilities | |
Management of the Company has opted for the Company to self-insure against business and liability risks rather than purchase third party insurance coverage. Consequently the Company is exposed to financial losses or failure as a result of these risks. |
Related_Party_Transactions
Related Party Transactions | 9 Months Ended |
Dec. 31, 2013 | |
Related Party Transactions [Text Block] | ' |
Note 14 – Related Party Transactions | |
During the three months and nine months ended December 31, 2013, the Company paid $nil (2012: $nil) and $289 (2012: $300) in director fees to the directors of the Company, respectively. | |
During the three months and nine months ended December 31, 2013, $nil (2012: $23,969) and $39,733 (2012: $74,210) of compensation were paid to a director and shareholder, respectively. | |
As at December 31, 2013, included in accounts payable, $70 (March 31, 2013: $3,380) was owed to directors and/or principals of the Company. | |
Other related party transactions | |
(i) Earthlight Consultancy | |
On December 26, 2012, effective January 1, 2013, Coronus agreed to engage Earthlight Solar Inc. (“Earthlight”) to provide Coronus with advisory and consulting services (the “Services”) in respect of Coronus’ solar photovoltaic business. Mark Burgert, a control person of the Company, is the president and a control person of Earthlight. Under this engagement, Coronus paid Earthlight $8,000 per month (the “Fee”) for the Services, with the Fee due and payable at the end of each month. Effective September 1, 2013, Coronus and Earthlight terminated this engagement, but with the Company re-engaging Earthlight as a consultant (the “Current Earthlight Engagement”), with Earthlight providing the Company with advisory and consulting services (the “Current Earthlight Services”) in respect of the Company’s solar PV business. Under the Current Earthlight Engagement, as amended, the Company is to pay Earthlight CAD$10,000 per month for the Current Earthlight Services up to November 30, 2013. Effective December 1, 2013, the Company is to pay Earthlight 10% of the cash value received of the Redwood Debenture, in return for performing those certain development services in respect of the twelve anticipated, utility-scale, solar PV projects under the Share Purchase and Development Services Agreement (see Note 8). During the three months and nine months ended December 31, 2013, the Company paid $19,282 (2012: $nil) and $68,445 (2012: $nil) to Earthlight, respectively. | |
(ii ) RenewTrek Consultancy | |
Effective September 1, 2013, the Company engaged RenewTrek Solar Inc. (“RenewTrek”) as a consultant (the “RenewTrek Engagement”), with RenewTrek providing the Company with advisory and consulting services (the “RenewTrek Services”) in respect of the Company’s solar PV business. Under the RenewTrek Engagement, as amended, the Company is to pay RenewTrek CAD$10,000 per month for the RenewTrek Services up to November 30, 2013. Effective December 1, 2013, the Company is to pay RenewTrek 10% of the cash value received of the Redwood Debenture, in return for performing those certain development services in respect of the twelve anticipated, utility-scale, solar PV projects under the Share Purchase and Development Services Agreement (see Note 8). Jeff Thachuk, the Company’s president, principal executive officer, secretary, treasurer, principal financial officer, principal accounting officer, and a member of the Company’s board of directors, is the president and a control person of RenewTrek. Prior to the RenewTrek Engagement, the Company paid Mr. Thachuk CAD$8,000 per month to serve as the Company’s principal executive officer. Effective September 1, 2013, Mr. Thachuk no longer receives this salary, but continues to serve as the Company’s principal executive officer. On September 1 and November 4, 2013, the Company’s board of directors approved the RenewTrek Engagement. As a director of our company, Mr. Thachuk declared his interest in the transaction and abstained from voting on the approval of the RenewTrek Engagement. During the three months and nine months ended December 31, 2013, the Company paid $19,282 (2012: $nil) and $28,924 (2012: $nil) to RenewTrek, respectively. |
Commitments
Commitments | 9 Months Ended |
Dec. 31, 2013 | |
Commitments [Text Block] | ' |
Note 15 – Commitments | |
(i) Consulting services | |
See Note 14(i). | |
See Note 14(ii). |
Comparative_Figures
Comparative Figures | 9 Months Ended |
Dec. 31, 2013 | |
Comparative Figures [Text Block] | ' |
Note 16 – Comparative Figures | |
Certain figures for the prior period have been reclassified to conform to the current period consolidated financial statements presentation. |
Subsequent_Events
Subsequent Events | 9 Months Ended |
Dec. 31, 2013 | |
Subsequent Events [Text Block] | ' |
Note 17 – Subsequent Events | |
None. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Dec. 31, 2013 | |
Principles of consolidation [Policy Text Block] | ' |
(a) Principles of consolidation | |
The accompanying consolidated financial statements include the accounts of Coronus Solar Inc. its 100% owned subsidiary, Coronus 29-Palms Morongo LLC, and until September 19, 2013, its 100% owned subsidiary, Coronus Energy Corp. and the 100% owned, subsidiaries of Coronus Energy Corp., namely, Coronus 29-Palms North 1 LLC, Coronus 29-Palms North 2 LLC, Coronus 29-Palms North 3 LLC, Coronus Yucca Valley East 1 LLC, Coronus Yucca Valley East 2 LLC, Coronus Yucca Valley East 3 LLC, Coronus Joshua Tree East 1 LLC, Coronus Joshua Tree East 2 LLC, Coronus Joshua Tree East 3 LLC, Coronus Joshua Tree East 4 LLC, Coronus Joshua Tree East 5 LLC, Coronus Apple Valley East 1 LLC, Coronus Apple Valley East 2 LLC, Coronus Adelanto West 1 LLC and Coronus Adelanto West 2 LLC. The corresponding comparative figures include the accounts of Coronus Solar Inc. and its 100% owned subsidiaries, Coronus Energy Corp. and Coronus 29-Palms Morongo LLC, and the 100% owned, subsidiaries of Coronus Energy Corp., namely, Coronus 29-Palms North 1 LLC, Coronus 29-Palms North 2 LLC, Coronus 29-Palms North 3 LLC, Coronus Yucca Valley East 1 LLC, Coronus Yucca Valley East 2 LLC, Coronus Yucca Valley East 3 LLC, Coronus Joshua Tree East 1 LLC, Coronus Joshua Tree East 2 LLC, Coronus Joshua Tree East 3 LLC, Coronus Joshua Tree East 4 LLC, Coronus Joshua Tree East 5 LLC, Coronus Apple Valley East 1 LLC, Coronus Apple Valley East 2 LLC, Coronus Adelanto West 1 LLC and Coronus Adelanto West 2 LLC, (collectively, the “Company”). All significant inter-company transactions and accounts have been eliminated in consolidation. | |
Basis of presentation [Policy Text Block] | ' |
(b) Basis of presentation | |
The accompanying unaudited consolidated interim financial statements have been prepared in accordance with the instructions from Form 10-Q pursuant to the rules and regulations of the Securities and Exchange Commission and, therefore, do not include all information and notes normally provided in the audited financial statements and should be read in conjunction with the Company’s audited consolidated financial statements for fiscal year ended March 31, 2013 filed with the United States Securities and Exchange Commission. The result of operations for the interim periods presented is not necessarily indicative of the results to be expected for the full year. | |
The accompanying unaudited consolidated interim balance sheets, statements of operations and comprehensive income (loss), stockholders’ equity and cash flows reflected all adjustments, consisting of normal recurring adjustments, that are, in the opinion of management, necessary for a fair presentation of the financial position of the Company, at December 31, 2013 and March 31, 2013, and the results of operations and cash flows for the three and nine months periods ended December 31, 2013 and 2012, and for the period from December 3, 2001 (Date of Commencement) to December 31, 2013. |
Basis_of_Presentation_Going_Co1
Basis of Presentation - Going Concern Uncertainties (Tables) | 9 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Schedule of Other Assets and Other Liabilities [Table Text Block] | ' | ||||||
December 31, | March 31, | ||||||
2013 | 2013 | ||||||
Working capital (deficiency) | $ | 935,427 | $ | (2,859,725 | ) | ||
Retained earnings (deficit) | 1,498,572 | (1,388,658 | ) |
Earnings_Loss_per_Share_Tables
Earnings (Loss) per Share (Tables) | 9 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Schedule of Weighted average number of common shares for basic earnings (loss) per share [Table Text Block] | ' | ||||||||||||
Three months ended | Nine months ended | ||||||||||||
December 31, | December 31, | ||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||
Issued common share at beginning of period | 17,219,486 | 17,219,486 | 17,219,486 | 27,096,086 | |||||||||
Cancelled during the period | - | - | - | (4,992,172 | ) | ||||||||
Weighted average number of common shares at end of period | 17,219,486 | 17,219,486 | 17,219,486 | 22,103,914 | |||||||||
Schedule of Weighted average number of common shares for diluted earnings (loss) per share [Table Text Block] | ' | ||||||||||||
Three months ended | Nine months ended | ||||||||||||
December 31, | December 31, | ||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||
Basic weighted average number of common shares at December 31 | 17,219,486 | 17,219,486 | 17,219,486 | 22,103,914 | |||||||||
Effect of share options on issue | 691,900 | - | 691,900 | 691,900 | |||||||||
Effect of share warrants on issue | 133,416 | - | 133,416 | 133,416 | |||||||||
Diluted Weighted average number of common shares at December 31 | 18,044,803 | 17,219,486 | 18,044,803 | 22,929,230 |
Prepaid_expenses_and_deposits_
Prepaid expenses and deposits (Tables) | 9 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Schedule of Prepaid expenses and deposits [Table Text Block] | ' | ||||||
December 31, | March 31, | ||||||
2013 | 2013 | ||||||
Current | |||||||
Prepaid expenses | $ | 166 | $ | 766 | |||
Prepaid expenses -Utility Interconnection Studies | - | 25,900 | |||||
Land deposit (a) | - | 1,000 | |||||
Long term | |||||||
Development security deposit | - | 564,150 | |||||
$ | 166 | $ | 591,816 |
Disposition_of_Coronus_Energy_1
Disposition of Coronus Energy Corp. and its wholly-owned subsidiaries (Coronus) (Tables) | 9 Months Ended | |||
Dec. 31, 2013 | ||||
Schedule of Net Present Value of the Sales Proceeds [Table Text Block] | ' | |||
Sales proceeds | $ | 4,390,988 | ||
Less: net book value of assets sold | (92,178 | ) | ||
additional development cost to be incurred (1) | (878,198 | ) | ||
Gain on disposal of the subsidiaries | $ | 3,420,612 |
Property_Plant_and_Equipment_T
Property, Plant and Equipment (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | Mar. 31, 2013 | |||||||||||||||||||
Schedule of Property, Plant and Equipment [Table Text Block] | ' | ' | ||||||||||||||||||
Accumulated | Net book | Accumulated | Net book | |||||||||||||||||
31-Dec-13 | Cost | depreciation | value | 31-Mar-13 | Cost | depreciation | value | |||||||||||||
Office equipment | $ | 1,290 | $ | 1,192 | $ | 98 | Office equipment | $ | 1,351 | $ | 1,231 | $ | 120 | |||||||
Computer equipment | 987 | 969 | 18 | Computer equipment | 1,034 | 1,008 | 26 | |||||||||||||
Land* | 119,361 | - | 119,361 | Land* | 126,856 | - | 126,856 | |||||||||||||
$ | 121,638 | $ | 2,161 | $ | 119,477 | $ | 129,241 | $ | 2,239 | $ | 127,002 |
Disposition_of_Coronus_Hesperi1
Disposition of Coronus Hesperia West 1 LLC & Coronus Hesperia West 2 LLC (Tables) | 9 Months Ended | |||
Dec. 31, 2013 | ||||
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | ' | |||
Cash consideration | $ | 1,726,219 | ||
Less: net book value of assets sold | 9,195 | |||
$ | 1,717,024 |
Stockholders_Equity_Tables
Stockholders Equity (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | Mar. 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||
Schedule of Changes in Stock Options [Table Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||
Options Outstanding | ||||||||||||||||||||||||||||||||||||||||||||
Weighted average | ||||||||||||||||||||||||||||||||||||||||||||
Number of | exercise | |||||||||||||||||||||||||||||||||||||||||||
shares | price | |||||||||||||||||||||||||||||||||||||||||||
Balance, March 31, 2012 | 745,000 | $ | 0.065 | |||||||||||||||||||||||||||||||||||||||||
Expired | (5,000 | ) | 0.105 | |||||||||||||||||||||||||||||||||||||||||
Balance, March 31, 2013 and December 31, 2013 | 740,000 | $ | 0.065 | |||||||||||||||||||||||||||||||||||||||||
Schedule of Options Outstanding and Exercisable [Table Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||
Outstanding | Exercisable | Outstanding | Exercisable | |||||||||||||||||||||||||||||||||||||||||
Weighted | Weighted | |||||||||||||||||||||||||||||||||||||||||||
Number | Average | Weighted | Number | Weighted | Number | Average | Weighted | Number | Weighted | |||||||||||||||||||||||||||||||||||
Outstanding at | Remaining | Average | Exercisable at | Average | Outstanding at | Remaining | Average | Exercisable at | Average | |||||||||||||||||||||||||||||||||||
December 31, | Contractual | Exercise | December 31, | Exercise | March 31, | Contractual | Exercise | March 31, | Exercise | |||||||||||||||||||||||||||||||||||
2013 | Life (Years) | Price | 2013 | Price | 2013 | Life (Years) | Price | 2013 | Price | |||||||||||||||||||||||||||||||||||
740,000 | 1.9 | $ | 0.065 | 740,000 | $ | 0.065 | 740,000 | 2.65 | $ | 0.065 | 740,000 | $ | 0.065 | |||||||||||||||||||||||||||||||
Schedule of Warrants Outstanding [Table Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||
Exercise | Average | Exercise | Average | |||||||||||||||||||||||||||||||||||||||||
Balance | Issued | Exercised | Cancelled | Balance | Exercise | price | Remaining | Balance | Issued | Exercised | Cancelled | Balance | Exercise | price | Remaining | |||||||||||||||||||||||||||||
as at | during the | during the | during the | as at | price | (USD | Contractual | as at | during the | during the | during the | as at | price | (USD | Contractual | |||||||||||||||||||||||||||||
3/31/13 | period | period | period | 12/31/13 | (CAD) | equivalent) | Life in Years | 31/03/2012 | period | period | period | 31/03/2013 | (CAD) | equivalent) | Life in Years | |||||||||||||||||||||||||||||
350,000 | - | - | - | 350,000 | $ | 0.75 | $ | 0.8 | 2.36 | 350,000 | - | - | - | 350,000 | $ | 0.75 | $ | 0.75 | 3.11 | |||||||||||||||||||||||||
17,000 | - | - | - | 17,000 | 0.75 | 0.8 | 2.82 | 17,000 | - | - | - | 17,000 | 0.75 | 0.75 | 3.57 | |||||||||||||||||||||||||||||
166,666 | - | - | - | 166,666 | 0.75 | 0.8 | 3.09 | 166,666 | - | - | - | 166,666 | 0.75 | 0.75 | 3.85 | |||||||||||||||||||||||||||||
533,666 | - | - | - | 533,666 | $ | 0.75 | $ | 0.8 | 2.6 | 533,666 | - | - | - | 533,666 | $ | 0.75 | $ | 0.75 | 3.37 |
Nature_of_Operations_Narrative
Nature of Operations (Narrative) (Details) (USD $) | 1 Months Ended | ||||
Mar. 31, 2011 | Nov. 30, 2009 | Aug. 31, 2009 | Nov. 02, 2009 | Aug. 19, 2009 | |
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | ' | 2,000,000 | ' | ' | ' |
Sale of Stock, Price Per Share (in Dollars per share and Dollars per share) | ' | ' | ' | $0.03 | $0.50 |
Number of Shares Transferred Under Share Purchase Agreement | ' | ' | 2,025,000 | ' | ' |
Number of Shares, Price Paid, Transferred Under Share Purchase Agreement (in Dollars) | ' | ' | ' | ' | $1 |
Number of Stock Options Cancelled (Shares) | ' | ' | 905,000 | ' | ' |
Stock Issued During Period, Shares, Acquisitions (in Shares) | 10,974,000 | 2,000,000 | 4,025,000 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | ' | ' | 350,000 | ' | ' |
Fair Value Assumptions, Exercise Price (in Dollars per share) | ' | ' | ' | ' | $0.07 |
Shares Held in Escrow | ' | ' | 9,050,000 | ' | ' |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Narrative) (Details) | Dec. 31, 2013 |
Equity Method Investment, Ownership Percentage | 100.00% |
Earnings_Loss_per_Share_Narrat
Earnings (Loss) per Share (Narrative) (Details) (USD $) | 3 Months Ended | 4 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | 145 Months Ended | ||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2002 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2013 | Mar. 31, 2012 | Mar. 31, 2011 | Mar. 31, 2010 | Mar. 31, 2009 | Mar. 31, 2008 | Mar. 31, 2007 | Mar. 31, 2006 | Mar. 31, 2005 | Mar. 31, 2004 | Mar. 31, 2003 | Dec. 31, 2013 | |
Income (Loss) for the period | $41,299 | ($118,132) | ($376,277) | $2,845,931 | $2,887,230 | $1,254,728 | $326,991 | ($370,798) | ($170,028) | ($155,180) | ($172,863) | ($96,432) | ($65,430) | ($112,773) | ($65,452) | ($63,056) | ($67,360) | $1,498,572 |
Diluted Weighted Average Number of Common Shares Outstanding | 18,044,803 | 17,219,486 | ' | ' | 18,044,803 | 22,929,230 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic Earnings Per Share [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income (Loss) for the period | 41,299 | 118,132 | ' | ' | 2,887,230 | 1,254,728 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic Weighted Average Number of Common Shares Outstanding | 17,219,486 | 17,219,486 | ' | ' | 17,219,486 | 22,103,914 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Diluted Earnings Per Share [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income (Loss) for the period | $41,299 | $118,132 | ' | ' | $2,887,230 | $1,254,728 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic Weighted Average Number of Common Shares Outstanding | 17,219,486 | 17,219,486 | ' | ' | 17,219,486 | 22,103,914 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Diluted Weighted Average Number of Common Shares Outstanding | 18,044,803 | 17,219,486 | ' | ' | 18,044,803 | 22,929,230 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Prepaid_expenses_and_deposits_1
Prepaid expenses and deposits (Narrative) (Details) (USD $) | 1 Months Ended | 9 Months Ended | 145 Months Ended | |||||||
Dec. 31, 2013 | 31-May-13 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 04, 2013 | 3-May-13 | Mar. 31, 2013 | Feb. 02, 2013 | Oct. 24, 2012 | |
acre | ||||||||||
Contractual Obligation | ' | ' | ' | ' | ' | ' | ' | ' | ' | $86,683 |
Earnest Money Deposits | 0 | ' | 0 | ' | 0 | ' | ' | 1,000 | ' | 1,000 |
Area of Land | ' | ' | ' | ' | ' | ' | ' | ' | ' | 24.23 |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | ' | 6.00% | ' | 12.00% | ' |
Debt Instrument, Periodic Payment | ' | 433.42 | ' | ' | ' | ' | ' | ' | ' | ' |
Deposit Reclassified as Other Receivable | ' | ' | ' | ' | ' | 1,000 | ' | ' | ' | ' |
Write-down of land deposits | 2,612 | ' | 2,612 | 0 | 14,890 | ' | ' | ' | ' | ' |
Additional deposit [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnest Money Deposits | ' | ' | ' | ' | ' | ' | ' | ' | ' | $85,683 |
Disposition_of_Coronus_Energy_2
Disposition of Coronus Energy Corp. and its wholly-owned subsidiaries (Coronus) (Narrative) (Details) (USD $) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | 145 Months Ended | 9 Months Ended | 1 Months Ended | ||||||||
Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2003 | Dec. 31, 2013 | Dec. 20, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Aug. 31, 2013 | Sep. 19, 2013 | Sep. 19, 2013 | Sep. 19, 2013 | |
Minimum [Member] | Maximum [Member] | Share Purchase and Development Services Agreement [Member] | Share Purchase and Development Services Agreement [Member] | Share Purchase and Development Services Agreement [Member] | Share Purchase and Development Services Agreement [Member] | Share Purchase and Development Services Agreement [Member] | ||||||||||
Contract Price Payment No. 1 [Member] | Contract Price Payment No. 2 [Member] | Contract Price Payment No. 3 [Member] | ||||||||||||||
Senior secured promissory note (a) | ' | ' | ' | ' | ' | ' | ' | ' | $4,000,000 | ' | ' | ' | ' | ' | ' | ' |
Sale of Stock, Percentage of Ownership after Transaction | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | 100.00% | ' | ' | ' |
Proceeds from Issuance of Common Stock | ' | ' | ' | ' | 0 | 0 | 0 | 591,861 | ' | ' | ' | 8,775,000 | 8,775,000 | ' | ' | ' |
Payment of Contract Price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000 | 9,000 | ' |
Percentage of Payment of the Contract Price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% |
Sales proceeds | ' | ' | ' | ' | 4,390,988 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Imputed Annual Discount Rate | 12.00% | ' | ' | ' | 12.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Probability of Success Ratio Range | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% | 80.00% | ' | ' | ' | ' | ' |
Additional development cost to be incurred | ' | ' | ' | ' | 878,198 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Imputed interest expense | ' | 25,298 | 0 | 3,176 | 28,474 | 0 | ' | 28,474 | ' | ' | ' | ' | ' | ' | ' | ' |
Gain on disposal of subsidiaries | ' | $0 | $0 | $3,420,612 | $3,420,612 | $0 | ' | $3,420,612 | ' | ' | ' | ' | ' | ' | ' | ' |
Property_Plant_and_Equipment_N
Property, Plant and Equipment (Narrative) (Details) (USD $) | Dec. 31, 2013 | Mar. 31, 2013 | Oct. 24, 2012 |
acre | |||
Area of Land | ' | ' | 24.23 |
Notes Payable, Current | $37,101 | $232,084 | ' |
29-Palms East [Member] | ' | ' | ' |
Area of Land | 30 | ' | ' |
Purchase Price of Land | 32,000 | ' | ' |
Newberry Springs [Member] | ' | ' | ' |
Area of Land | 20 | ' | ' |
Purchase Price of Land | 45,000 | ' | ' |
Notes Payable, Current | 37,000 | ' | ' |
Debt Instrument, Interest Rate, Effective Percentage | 6.50% | ' | ' |
29-Palms North [Member] | ' | ' | ' |
Area of Land | 39.25 | ' | ' |
Purchase Price of Land | $40,000 | ' | ' |
Disposition_of_Coronus_Hesperi2
Disposition of Coronus Hesperia West 1 LLC & Coronus Hesperia West 2 LLC (Narrative) (Details) (USD $) | 9 Months Ended | 1 Months Ended | 6 Months Ended | 1 Months Ended | ||
Dec. 31, 2013 | Apr. 30, 2012 | Sep. 30, 2012 | Aug. 12, 2012 | Apr. 30, 2012 | Apr. 11, 2012 | |
Sycamore Solar PV Asset Sale Agreement [Member] | Sycamore Solar PV Asset Sale Agreement [Member] | Sycamore Solar PV Asset Sale Agreement [Member] | Sycamore Solar PV Asset Sale Agreement [Member] | Sycamore Solar PV Asset Sale Agreement [Member] | ||
Coronus Hesperia West [Member] | Coronus Hesperia West 2 LLC [Member] | Coronus Hesperia West 1 LLC [Member] | Coronus Hesperia West 1 LLC [Member] | |||
Gain on Sale of Assets | $1,717,024 | ' | $1,717,024 | ' | ' | ' |
Proceeds from Sale of Assets | ' | 1,726,219 | ' | ' | 817,200 | ' |
Payment of Contract Price | ' | ' | ' | 909,019 | ' | 817,200 |
Proceeds From Sale Of Productive Assets on Delivery of Second PPA | ' | ' | ' | ' | $909,019 | ' |
Debenture_Receivable_Narrative
Debenture Receivable (Narrative) (Details) (USD $) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | 145 Months Ended | 1 Months Ended | ||||||
Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2003 | Dec. 31, 2013 | Sep. 19, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Aug. 31, 2013 | |
Minimum [Member] | Maximum [Member] | Share Purchase and Development Services Agreement [Member] | Share Purchase and Development Services Agreement [Member] | ||||||||||
Sale of Stock, Percentage of Ownership after Transaction | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | 100.00% |
Proceeds from Issuance of Common Stock | ' | ' | ' | ' | $0 | $0 | $0 | $591,861 | ' | ' | ' | $8,775,000 | $8,775,000 |
Redwood Debenture | ' | ' | ' | ' | ' | ' | ' | ' | 4,390,988 | ' | ' | ' | ' |
Imputed Annual Discount Rate | 12.00% | ' | ' | ' | 12.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Probability of Success Ratio Ranging | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% | 80.00% | ' | ' |
Present Value of the Redwood Debenture | ' | ' | ' | ' | 4,493,045 | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Redwood Debenture | ' | ' | ' | ' | 10,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Price Adjustments of the Redwood Debenture | ' | ' | ' | ' | 30,313 | ' | ' | ' | ' | ' | ' | ' | ' |
Imputed interest income | ' | $126,490 | $0 | $15,880 | $142,370 | $0 | ' | $142,370 | ' | ' | ' | ' | ' |
Stockholders_Equity_Narrative_
Stockholders Equity (Narrative) (Details) | 1 Months Ended | 9 Months Ended | 12 Months Ended | 21 Months Ended | 145 Months Ended | 1 Months Ended | |||||||||||||||||||||||||||||||
Aug. 31, 2012 | Feb. 29, 2012 | Feb. 29, 2012 | Oct. 31, 2011 | Oct. 31, 2011 | 31-May-11 | 31-May-11 | Mar. 31, 2011 | Jan. 31, 2011 | Jan. 31, 2011 | Nov. 30, 2009 | Aug. 31, 2009 | Dec. 31, 2001 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2008 | Mar. 31, 2007 | Mar. 31, 2006 | Mar. 31, 2005 | Mar. 31, 2004 | Mar. 31, 2003 | Dec. 31, 2013 | Dec. 31, 2013 | 3-May-13 | Mar. 31, 2013 | Feb. 02, 2013 | Aug. 15, 2012 | Mar. 31, 2012 | Feb. 23, 2012 | Feb. 02, 2012 | Oct. 24, 2011 | Oct. 24, 2011 | 10-May-11 | 10-May-11 | Dec. 31, 2001 | Dec. 31, 2001 | Dec. 31, 2001 | |
USD ($) | CAD | USD ($) | CAD | USD ($) | CAD | USD ($) | USD ($) | CAD | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | CAD | USD ($) | CAD | CAD | USD ($) | CAD | USD ($) | CAD | Founder [Member] | Sole Director [Member] | Founder and Sole Director [Member] | |||||||
USD ($) | USD ($) | USD ($) | |||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, Issued for Cash | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | ' | 1,910,000 | 500,006 | 500,004 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,750,000 |
Stock Issued During Period, Value, Issued for Cash | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $43,948 | ' | $74,895 | $41,644 | $36,326 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, Issued for Services | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75,000 | ' | ' |
Stock Issued During Period, Shares, Private Placement | ' | ' | ' | ' | ' | ' | ' | ' | 212,500 | 212,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | ' |
Proceeds from Issuance of Private Placement | ' | ' | ' | ' | ' | ' | ' | ' | ' | 85,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,750,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 352,337 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Units Issued During Period, Units | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,200,000 | ' | 235,294 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Units Issued During Period, Per Unit Amount | ' | ' | ' | ' | 0.6 | ' | 0.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.04 | ' | $0.06 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Units Issued During Period, Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 47,054 | ' | 12,916 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right, Exercises in Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | 300,000 | ' | ' | 235,294 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right, Exercises in Period, Exercise Price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.04 | $0.04 | ' | $0.06 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Issuance of Warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12,578 | 0 | ' | 12,916 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Amount of Debt Settlement, Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 52,500 | ' | 395,600 | ' | 66,666 | 22,222 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Amount of Debt Settlement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,548 | ' | 16,586 | ' | 5,552 | 1,615 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, Acquisitions | ' | ' | ' | ' | ' | ' | ' | 10,974,000 | ' | ' | 2,000,000 | 4,025,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Value, Acquisitions | ' | ' | ' | ' | ' | ' | ' | 11,522,700 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Units Issued During Period Shares Private Placement | ' | ' | ' | 17,000 | 17,000 | 350,000 | 350,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Units Issued During Period Value Private Placement | ' | ' | ' | ' | 10,200 | ' | 210,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Repurchased and Retired During Period, Shares | 9,876,600 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Issuance, Per Share Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.402 | $0.03 | ' | $0.05 | ' | ' | $0.05 | $0.04 | $0.04 | $0.04 | $0.08 | $0.07 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.05 | $0.05 | $0.00 |
Proceeds from Issuance of Common Stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | 0 | ' | 591,861 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value Per Share | ' | ' | ' | ' | ' | ' | ' | $0.60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of Payment to Acquire Assets | ' | ' | ' | ' | ' | ' | ' | 15.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Value Assigned to the Underlying Warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,452 | 4,470 | 93,652 | 90,000 | ' | ' | ' |
Deemed Price Per Share | ' | ' | ' | ' | ' | ' | ' | $1.05 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1.05 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Shares Exercise Price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.75 | ' | 0.75 | ' | 0.75 | ' | ' | ' |
Stock Issued During Period Share under Shareholders Equity and Construction in Progress | ' | ' | ' | ' | ' | ' | ' | 6,584,400 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finders Fees | ' | ' | ' | ' | ' | ' | ' | ' | 7,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Legal Fees | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,807 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property, Plant and Equipment, Additions | ' | ' | ' | ' | ' | ' | ' | 76,818,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding Restricted Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,226,900 | ' | ' | ' | ' | ' | ' | ' | 10,226,900 | 10,226,900 | ' | 10,226,900 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants Issued during Priod Value Convertible Promissory Note | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000 | 50,000 | ' | ' | ' | ' | ' | ' | ' |
Transferrable Warrants Issued during Priod Value Convertible Promissory Note | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 83,333 | 83,333 | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Issurance of Transferrable Warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000 | 50,000 | ' | ' | ' | ' | ' | ' | ' |
Convertible Promissory Note | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.00% | ' | 12.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value of the Warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.7816 | $0.26 | ' | $0.26 | ' | ' | ' | ' |
Convertible Price Per Share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.6 | ' | ' | ' | ' | ' | ' | ' |
Adjustments to Additional Paid in Capital, Warrant Issued | ' | $56,966 | 56,571 | $4,501 | 4,470 | $90,628 | 90,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrant or Right, Outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 533,666 | ' | ' | ' | ' | ' | ' | ' | 533,666 | 533,666 | ' | 533,666 | ' | ' | 533,666 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Related_Party_Transactions_Nar
Related Party Transactions (Narrative) (Details) | Dec. 20, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 26, 2012 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 |
USD ($) | Earthlight Consultancy [Member] | Earthlight Consultancy [Member] | Earthlight Consultancy [Member] | Earthlight Consultancy [Member] | Earthlight Consultancy [Member] | Directors and/or Principals [Member] | Directors and/or Principals [Member] | Earthlight Agency Fee [Member] | Sole Director [Member] | Sole Director [Member] | Sole Director [Member] | Sole Director [Member] | Director and Shareholder [Member] | Director and Shareholder [Member] | Director and Shareholder [Member] | Director and Shareholder [Member] | RenewTrek Consultancy [Member] | RenewTrek Consultancy [Member] | RenewTrek Consultancy [Member] | RenewTrek Consultancy [Member] | RenewTrek Consultancy [Member] | RenewTrek Consultancy [Member] | |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | CAD | USD ($) | Scenario, Forecast [Member] | ||
USD ($) | |||||||||||||||||||||||
Director Fees | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | $0 | $289 | $300 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Compensation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 23,969 | 39,733 | 74,210 | ' | ' | ' | ' | ' | ' |
Accounts Payable | ' | ' | ' | ' | ' | ' | 70 | 3,380 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Senior secured promissory note (a) | 4,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments of Financing Costs | ' | 19,282 | 0 | 68,445 | 0 | ' | ' | ' | 8,000 | ' | ' | ' | ' | ' | ' | ' | ' | 19,282 | 0 | 28,924 | 8,000 | 0 | ' |
Payment of Contract Price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000 |
Estimated Payment of Contract Price | ' | ' | ' | ' | ' | $10,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of Payment of the Contract Price | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | 10.00% | 10.00% | ' | ' |
Schedule_of_Other_Assets_and_O
Schedule of Other Assets and Other Liabilities (Details) (USD $) | Dec. 31, 2013 | Mar. 31, 2013 |
Working capital | $935,427 | ($2,859,725) |
Deficit | $1,498,572 | ($1,388,658) |
Schedule_of_Weighted_average_n
Schedule of Weighted average number of common shares for basic earnings (loss) per share (Details) | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | |
Issued common share at beginning of period | 17,219,486 | 17,219,486 | 17,219,486 | 22,103,914 |
Basic Earnings Per Share [Member] | ' | ' | ' | ' |
Issued common share at beginning of period | 17,219,486 | 17,219,486 | 17,219,486 | 27,096,086 |
Cancelled during the period | 0 | 0 | 0 | -4,992,172 |
Weighted average number of common shares at end of period | 17,219,486 | 17,219,486 | 17,219,486 | 22,103,914 |
Schedule_of_Weighted_average_n1
Schedule of Weighted average number of common shares for diluted earnings (loss) per share (Details) | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | |
Diluted Weighted average number of common shares at September 30 | 18,044,803 | 17,219,486 | 18,044,803 | 22,929,230 |
Diluted Earnings Per Share [Member] | ' | ' | ' | ' |
Weighted average number of common shares at end of period | 17,219,486 | 17,219,486 | 17,219,486 | 22,103,914 |
Effect of share options on issue | 691,900 | 0 | 691,900 | 691,900 |
Effect of share warrants on issue | 133,416 | 0 | 133,416 | 133,416 |
Diluted Weighted average number of common shares at September 30 | 18,044,803 | 17,219,486 | 18,044,803 | 22,929,230 |
Schedule_of_Prepaid_expenses_a
Schedule of Prepaid expenses and deposits (Details) (USD $) | Dec. 31, 2013 | Mar. 31, 2013 | Oct. 24, 2012 |
Prepaid expenses | $166 | $766 | ' |
Prepaid expenses - Utility Interconnection Studies | 0 | 25,900 | ' |
Land deposit | 0 | 1,000 | 1,000 |
Development security deposit | 0 | 564,150 | ' |
Prepaid Expense and Other Assets | $166 | $591,816 | ' |
Schedule_of_Net_Present_Value_
Schedule of Net Present Value of the Sales Proceeds (Details) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 145 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
Sales proceeds | ' | ' | ' | $4,390,988 | ' | ' |
Less: net book value of assets sold | ' | ' | ' | -92,178 | ' | ' |
Additional development cost to be incurred | ' | ' | ' | -878,198 | ' | ' |
Gain on disposal of subsidiaries | $0 | $0 | $3,420,612 | $3,420,612 | $0 | $3,420,612 |
Schedule_of_Property_Plant_and
Schedule of Property, Plant and Equipment (Details) (USD $) | Dec. 31, 2013 | Mar. 31, 2013 |
Cost | $121,638 | $129,241 |
Accumulated depreciation | 2,161 | 2,239 |
Net book value | 119,477 | 127,002 |
Office equipment [Member] | ' | ' |
Cost | 1,290 | 1,351 |
Accumulated depreciation | 1,192 | 1,231 |
Net book value | 98 | 120 |
Computer equipment [Member] | ' | ' |
Cost | 987 | 1,034 |
Accumulated depreciation | 969 | 1,008 |
Net book value | 18 | 26 |
Land [Member] | ' | ' |
Cost | 119,361 | 126,856 |
Accumulated depreciation | 0 | 0 |
Net book value | $119,361 | $126,856 |
Fair_Value_Assets_Measured_on_
Fair Value, Assets Measured on Recurring Basis (Details) (USD $) | 9 Months Ended |
Dec. 31, 2013 | |
Cash consideration | $1,726,219 |
Less: net book value of assets sold | 9,195 |
Gain on Sale of Assets | $1,717,024 |
Schedule_of_Changes_in_Stock_O
Schedule of Changes in Stock Options (Details) (USD $) | 21 Months Ended | |
Dec. 31, 2013 | Mar. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Beginning of Period | 745,000 | 740,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning of Period | $0.07 | $0.07 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expired in Period | -5,000 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expired in Period, Weighted Average Exercise Price | $0.11 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, End of Period | 740,000 | 740,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, End of Period | $0.07 | $0.07 |
Schedule_of_Options_Outstandin
Schedule of Options Outstanding and Exercisable (Details) (USD $) | Dec. 31, 2013 | Mar. 31, 2013 | Mar. 31, 2012 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Beginning of Period | 740,000 | 740,000 | 745,000 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term, Beginning of Period | '1 year 10 months 24 days | '2 years 7 months 24 days | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning of Period | $0.07 | $0.07 | $0.07 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number, Beginning of Period | 740,000 | 740,000 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price, Beginning of Period | $0.07 | $0.07 | ' |
Schedule_of_Warrants_Outstandi
Schedule of Warrants Outstanding (Details) | 9 Months Ended | 12 Months Ended | 21 Months Ended | 9 Months Ended | 21 Months Ended | 9 Months Ended | 21 Months Ended | 9 Months Ended | 21 Months Ended | |||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2013 | Mar. 31, 2006 | Mar. 31, 2003 | Dec. 31, 2013 | Dec. 31, 2013 | Mar. 31, 2013 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Mar. 31, 2013 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Mar. 31, 2013 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Mar. 31, 2013 | Mar. 31, 2012 | |
Number of 350,000 Warrants Outstanding [Member] | Number of 350,000 Warrants Outstanding [Member] | Number of 350,000 Warrants Outstanding [Member] | Number of 350,000 Warrants Outstanding [Member] | Number of 350,000 Warrants Outstanding [Member] | Number of 350,000 Warrants Outstanding [Member] | Number of 17,000 Warrants Outstanding [Member] | Number of 17,000 Warrants Outstanding [Member] | Number of 17,000 Warrants Outstanding [Member] | Number of 17,000 Warrants Outstanding [Member] | Number of 17,000 Warrants Outstanding [Member] | Number of 17,000 Warrants Outstanding [Member] | Number of 166,666 Warrants Outstanding [Member] | Number of 166,666 Warrants Outstanding [Member] | Number of 166,666 Warrants Outstanding [Member] | Number of 166,666 Warrants Outstanding [Member] | Number of 166,666 Warrants Outstanding [Member] | Number of 166,666 Warrants Outstanding [Member] | |||||||||
Class of Warrant or Right, Outstanding | 533,666 | 533,666 | ' | ' | 533,666 | 533,666 | 533,666 | 533,666 | 350,000 | 350,000 | 350,000 | 350,000 | 350,000 | 350,000 | 17,000 | 17,000 | 17,000 | 17,000 | 17,000 | 17,000 | 166,666 | 166,666 | 166,666 | 166,666 | 166,666 | 166,666 |
Warrants Issued During Period, Warrants | 0 | 0 | ' | ' | 0 | 0 | ' | ' | 0 | 0 | 0 | 0 | ' | ' | 0 | 0 | 0 | 0 | ' | ' | 0 | 0 | 0 | 0 | ' | ' |
Class of Warrant or Right, Exercises in Period | 0 | 0 | 300,000 | 235,294 | 0 | 0 | ' | ' | 0 | 0 | 0 | 0 | ' | ' | 0 | 0 | 0 | 0 | ' | ' | 0 | 0 | 0 | 0 | ' | ' |
Class of Warrant or Right, Forfeitures in Period | 0 | 0 | ' | ' | 0 | 0 | ' | ' | 0 | 0 | 0 | 0 | ' | ' | 0 | 0 | 0 | 0 | ' | ' | 0 | 0 | 0 | 0 | ' | ' |
Class of Warrant or Right, Outstanding, End of Period | 533,666 | 533,666 | ' | ' | 533,666 | 533,666 | 533,666 | 533,666 | 350,000 | 350,000 | 350,000 | 350,000 | 350,000 | 350,000 | 17,000 | 17,000 | 17,000 | 17,000 | 17,000 | 17,000 | 166,666 | 166,666 | 166,666 | 166,666 | 166,666 | 166,666 |
Class of Warrant or Right, Exercise Price of Warrants or Rights | 0.8 | 0.75 | ' | ' | 0.8 | 0.75 | 0.75 | ' | 0.8 | 0.75 | 0.8 | 0.75 | 0.75 | ' | 0.8 | 0.75 | 0.8 | 0.75 | 0.75 | ' | 0.8 | 0.75 | 0.8 | 0.75 | 0.75 | ' |
Class of Warrant or Right, Weighted Average Remaining Contractual Term | '2 years 7 months 6 days | '2 years 7 months 6 days | ' | ' | '2 years 7 months 6 days | '2 years 7 months 6 days | '3 years 4 months 13 days | ' | '2 years 4 months 10 days | '2 years 4 months 10 days | '2 years 4 months 10 days | '2 years 4 months 10 days | '3 years 1 month 10 days | ' | '2 years 9 months 25 days | '2 years 9 months 25 days | '2 years 9 months 25 days | '2 years 9 months 25 days | '3 years 6 months 25 days | ' | '3 years 1 month 2 days | '3 years 1 month 2 days | '3 years 1 month 2 days | '3 years 1 month 2 days | '3 years 10 months 6 days | ' |