TuHURA Biosciences (HURA) 10-Q 16 Nov 15 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Sep. 30, 2015	Nov. 16, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	DelMar Pharmaceuticals, Inc.
Entity Central Index Key	1,498,382
Current Fiscal Year End Date	--06-30
Trading Symbol	dmpi
Amendment Flag	false
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Entity Filer Category	Smaller Reporting Company
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Entity Common Stock, Shares Outstanding		39,477,557

Consolidated Condensed Interim

Consolidated Condensed Interim Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2015	Jun. 30, 2015
Current assets
Cash and cash equivalents	$ 2,804,096	$ 1,754,433
Taxes and other receivables	35,732	25,831
Prepaid expenses	$ 191,633	245,038
Deferred costs		550,119
Assets, Current	$ 3,031,461	2,575,421
Current liabilities
Accounts payable and accrued liabilities	372,763	762,265
Related party payables	38,774	90,820
Liabilities, Current	411,537	853,085
Stock option liability	179,445	179,445
Derivative liability	2,954,986	2,364,381
Liabilities	3,545,968	3,396,911
Stockholders' accumulated deficit
Preferred stock Authorized 5,000,000 shares, $0.001 par value Issued and outstanding 278,530 Series A shares at September 30, 2015 (June 30, 2015 - 278,530)	$ 278,530	$ 278,530
1 special voting share at September 30, 2015 (June 30, 2015 - 1)
Common stock Authorized 200,000,000 shares, $0.001 par value 43,733,598 issued at September 30, 2015 (June 30, 2015 - 39,455,931)	$ 43,734	$ 39,456
Additional paid-in capital	18,601,567	17,363,208
Warrants	777,255	89,432
Accumulated deficit	(20,236,771)	(18,613,294)
Accumulated other comprehensive income	21,178	21,178
Stockholders' equity, total	(514,507)	(821,490)
Liabilities and Equity	$ 3,031,461	$ 2,575,421

Consolidated Condensed Interim3

Consolidated Condensed Interim Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2015	Jun. 30, 2015
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock special voting shares issued	1	1
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	43,733,598	39,455,931
Series A Preferred Stock
Preferred stock, shares outstanding	278,530	278,530
Preferred Stock, shares issued	278,530	278,530

Consolidated Condensed Interim4

Consolidated Condensed Interim Statement of Loss and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Expenses
Research and development	$ 603,845	$ 671,627
General and administrative	474,025	445,000
Operating Expenses	1,077,870	1,116,627
Other loss (income)
Change in fair value of derivative liability	539,446	562,969
Change in fair value of derivative liability due to change in warrant terms	21,565	(167,190)
Foreign exchange loss (gain)	$ (17,473)	2,391
Interest expense		2,091
Interest income	$ (20)	(152)
Other (income) loss	543,518	400,109
Net and comprehensive loss for the period	$ 1,621,388	$ 1,516,736
Basic loss per share	$ 0.04	$ 0.04
Basic weighted average number of shares	42,481,875	36,451,014

Consolidated Condensed Interim5

Consolidated Condensed Interim Statement of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities
Loss for the period	$ (1,621,388)	$ (1,516,736)
Items not affecting cash
Accrued interest		2,091
Change in fair value of derivative liability	$ 539,446	562,969
Change in fair value of derivative liability due to change in warrant terms	21,565	$ (167,190)
Warrants issued for services	6,654
Share-based compensation	39,906	$ 48,940
Net income (loss) after adjustments of non-cash items	(1,013,817)	(1,069,926)
Changes in non-cash working capital
Taxes and other receivables	(9,901)	(9,768)
Prepaid expenses	63,385	72,381
Accounts payable and accrued liabilities	(389,502)	49,083
Related party payables	(52,046)	(13,286)
Total changes in non-cash working capital	(388,064)	98,410
Net cash flows from operating activities	(1,401,881)	$ (971,516)
Cash flows from financing activities
Net proceeds from issuance of shares and warrants	2,453,633
Series A preferred stock dividend	$ (2,089)
Net proceeds from the exercise of warrants		$ 527,551
Net cash flows from financing activities	$ 2,451,544	527,551
Increase (decrease) in cash and cash equivalents	1,049,663	(443,965)
Cash and cash equivalents - beginning of period	1,754,433	4,759,711
Cash and cash equivalents - end of period	$ 2,804,096	4,315,746
Supplementary information
Issuance of preferred shares for the settlement of the loan payable to Valent (note 4)		278,530
Reclassification of derivative liability upon the exercise of investor warrants (note 6)		72,109
Reclassification of stock option liability upon the forfeiture of stock options		$ 38,038
Deferred costs recognized as equity issue costs	$ 550,119

Going concern, Nature of operat

Going concern, Nature of operations, and Corporate History	3 Months Ended
	Sep. 30, 2015
Going Concern, Nature of Operations, and Corporate History [Abstract]
Going concern, nature of operations, and corporate history	1 Going concern, nature of operations, and corporate history Going concern These financial statements have been prepared on a going concern basis which assumes that DelMar Pharmaceuticals, Inc. (“the Company”) will continue its operations for the foreseeable future and contemplates the realization of assets and the settlement of liabilities in the normal course of business. For the three months ended September 30, 2015 the Company reported a net loss of $1,621,388 and for the fiscal year ended June 30, 2015, the Company reported a loss of $4,347,767. The Company also reported negative cash flows from operations of $1,401,881 for the three months ended September 30, 2015 and an accumulated deficit of $20,236,771 at that date. As at September 30, 2015, the Company has cash and cash equivalents on hand of $2,804,096 and a working capital balance of $2,619,924. The Company has not begun to generate revenues from its product candidate and the Company does not have the prospect of achieving revenues in the near future. The Company will require additional funding to maintain its research and development projects and for general operations. These circumstances indicate the existence of a material uncertainty that casts substantial doubt as to the ability of the Company to meet its obligations as they come due. Consequently, management is pursuing various financing alternatives to fund the Company’s operations so it can continue as a going concern. During the quarter ended September 30, 2015 the Company received gross proceeds of $2,566,660 from a public offering of common stock and common stock purchase warrants (note 7). However, the net proceeds from this financing are not enough to fund all of the Company’s planned activities. Management plans to secure the necessary additional financing through the issue of new equity and/or the entering into of strategic partnership arrangements. Nevertheless, there is no assurance that these initiatives will be successful. These financial statements do not give effect to any adjustments to the amounts and classification of assets and liabilities that may be necessary should the Company be unable to continue as a going concern. Such adjustments could be material. Nature of operations The Company is a clinical stage drug development company with a focus on the treatment of cancer. We are conducting clinical trials in the United States with our product candidate, VAL-083, as a potential new treatment for glioblastoma multiforme (“GBM”), the most common and aggressive form of brain cancer. We have also acquired certain exclusive commercial rights to VAL-083 in China where it is approved as a chemotherapy for the treatment of chronic myelogenous leukemia (“CML”) and lung cancer. In order to accelerate our development timelines and reduce technical risk, we leverage existing clinical and commercial data from a wide range of sources. We plan to seek marketing partnerships in China in order to potentially generate future royalty revenue. The address of the Company’s administrative offices is Suite 720 - 999 West Broadway, Vancouver, British Columbia, V5Z 1K5 with clinical operations located at 3485 Edison Way, Suite R, Menlo Park, California, 94025. Corporate history The Company is a Nevada corporation formed on June 24, 2009 under the name Berry Only Inc. On January 25, 2013 (the “Closing Date”), the Company entered into and closed an exchange agreement (the “Exchange Agreement”), with Del Mar Pharmaceuticals (BC) Ltd. (“DelMar (BC)”), 0959454 B.C. Ltd. (“Callco”), and 0959456 B.C. Ltd. (“Exchangeco”) and the security holders of DelMar (BC). Upon completion of the Exchange Agreement, DelMar (BC) became a wholly-owned subsidiary of the Company (the “Reverse Acquisition”). As a result of the shareholders of DelMar (BC) having a controlling interest in the Company subsequent to the Reverse Acquisition, for accounting purposes the transaction is a capital transaction with DelMar (BC) being the accounting acquirer even though the legal acquirer is the Company. DelMar Pharmaceuticals, Inc. is the parent company of DelMar (BC), a British Columbia, Canada corporation, and Callco and Exchangeco which are British Columbia, Canada corporations. Callco and Exchangeco were formed to facilitate the Reverse Acquisition. References to the Company refer to the Company and its wholly-owned subsidiaries, DelMar (BC), Callco and Exchangeco.

Restatement of previously issue

Restatement of previously issued financial statements	3 Months Ended
	Sep. 30, 2015
Restatement of Previously Issued Financial Statements [Abstract]
Restatement of previously issued financial statements	2 Restatement of previously issued financial statements In our 2015 Annual Report on Form 10-K/A, we restated our previously issued consolidated financial statements and the related disclosures for the fiscal years ended June 30, 2015 and June 30, 2014 and for each of the periods ended March 31, 2013, June 30, 2013, September 30, 2013, December 31, 2013, March 31, 2014, September 30, 2014, December 31, 2014, and March 31, 2015 (the "Restated Periods"). The restatement is the result of our corrections for the effect of financial statement errors attributable to the incorrect accounting for certain warrants issued for placement agent services issued on March 6, 2013 (the “Placement Agent Warrants”). The Placement Agent Warrants were improperly accounted for as equity instruments at the time they were issued. During the preparation of our first quarter of fiscal 2016, we discovered that the Placement Agent Warrants represented a derivative liability and should not have been recognized as equity. The exercise price of the Placement Agent Warrants is subject to adjustment in certain circumstances. The public equity financing that was completed in August 2015 resulted in the exercise price of the Placement Agent Warrants being reduced. Accordingly, we have classified the Placement Agent Warrants as a derivative liability on the Consolidated Balance Sheets at June 30, 2015 and June 30, 2014 as well as recognized the gain/loss from the revaluation of the derivative liability in the Consolidated Statement of Operations and Comprehensive Loss of the years ended June 30, 2015 and June 30, 2014. We have also reflected the cumulative impact of the fair value adjustments from March 6, 2013 to June 30, 2013 in the accumulated deficit. The aggregate impacts of correcting the errors relating to the Placement Agent Warrants as of and for the quarter ended September 30, 2014 were as follows: September 30, 2014 As previously reported $ Restatement adjustment $ As restated $ Change in fair value of derivative liability 368,594 194,375 562,969 Loss for the period 1,322,361 194,375 1,516,736 Basic and diluted loss per share 0.04 0.00 0.04 September 30, 2014 As previously reported $ Restatement adjustment $ As restated $ Derivative liability 3,458,662 1,976,015 5,434,677 Additional paid-in capital 13,982,362 (136,800 ) 13,845,562 Warrants 6,187,805 (6,048,994 ) 138,811 Accumulated deficit (19,985,775 ) 4,209,779 (15,775,996 ) We assessed the impact of these errors on our previously issued financial statements and concluded that the combined impact of these errors was material to our financial statements. Consequently, we have restated the prior period financial statements identified above. All amounts in our consolidated financial statements in this Quarterly Report on Form 10-Q affected by the restatement adjustments reflect such amounts as restated.

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Sep. 30, 2015
Significant Accounting Policies [Abstract]
Significant accounting policies	3 Significant accounting policies Basis of presentation The consolidated condensed interim financial statements of the Company have been prepared in accordance with United States Generally Accepted Accounting Principles (“U.S. GAAP”) and are presented in United States dollars. The Company’s functional currency is the United States dollar. The accompanying consolidated condensed interim financial statements include the accounts of the Company and its wholly-owned subsidiaries, DelMar BC, Callco, and Exchangeco. All intercompany balances and transactions have been eliminated. The principal accounting policies applied in the preparation of these financial statements are set out below and have been consistently applied to all periods presented. Unaudited interim financial data Use of estimates The preparation of consolidated condensed interim financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions about future events that affect the reported amounts of assets, liabilities, expenses, contingent assets and contingent liabilities as at the end or during the reporting period. Actual results could significantly differ from those estimates. Significant areas requiring management to make estimates include the derivative liability and the valuation of equity instruments issued for services. There have been no changes to the methodology used in determining these estimates from the period ended June 30, 2015. Loss per share Loss per share is calculated based on the weighted average number of common shares outstanding. For the three month periods ended September 30, 2015 and 2014 diluted loss per share does not differ from basic loss per share since the effect of the Company’s warrants and stock options are anti-dilutive. At September 30, 2015, potential common shares of 17,904,445 (September 30, 2014 – 17,790,758) relating to warrants and 3,545,000 (September 30, 2014 – 3,115,000) relating to stock options were excluded from the calculation of net loss per common share because their inclusion would be anti-dilutive. Recent accounting pronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) or other standard setting bodies that are adopted by the Company as of the specified effective date. Unless otherwise discussed, we believe that the impact of recently issued standards that are not yet effective will not have a material impact on our financial position or results of operations upon adoption. Accounting Standards Update (“ASU”) 2014-15 - Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern The objective of the guidance is to require management to explicitly assess an entity's ability to continue as a going concern, and to provide related footnote disclosures in certain circumstances. In connection with each annual and interim period, management will assess if there is substantial doubt about an entity's ability to continue as a going concern within one year after the issuance date of an entity’s financial statements. The new standard defines substantial doubt and provides examples of indicators thereof. The definition of substantial doubt incorporates a likelihood threshold of "probable" similar to the current use of that term in U.S. GAAP for loss contingencies. The new standard will be effective for all entities in the first annual period ending after December 15, 2016 (December 31, 2016 for calendar year-end entities). Earlier application is permitted. The Company is currently assessing this standard for its impact on future reporting periods.

Valent Technologies, LLC

Valent Technologies, LLC	3 Months Ended
	Sep. 30, 2015
Valent Technologies, LLC [Abstract]
Valent Technologies, LLC	4 Valent Technologies, LLC On September 30, 2014, the Company entered into an exchange agreement (the “Valent Exchange Agreement”) with Valent Technologies, LLC (“Valent”), an entity owned by Dr. Dennis Brown, the Company’s Chief Scientific Officer and director, and DelMar (BC). Pursuant to the Valent Exchange Agreement, Valent exchanged its loan payable in the outstanding amount of $278,530 (including aggregate accrued interest to September 30, 2014 of $28,530), issued to Valent by DelMar (BC), for 278,530 shares of the Company’s Series A Preferred Stock. The shares of Series A Preferred Stock have a stated value of $1.00 per share (the “Stated Value”) and are not convertible into common stock. The holder of the Series A Preferred Stock will be entitled to dividends at the rate of 3% of the Stated Value per year, payable quarterly in arrears. For the three months ended September 30, 2015, the Company recorded $2,089 related to the dividend payable to Valent. The dividend of $2,089 has been recorded as a direct increase in accumulated deficit. For the three months ended September 30, 2014 the Company accrued $2,091 in interest expense on the loan payable.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Sep. 30, 2015
Related Party Transactions [Abstract]
Related party transactions	5 Related party transactions During the three months ended September 30, 2015 Pursuant to consulting agreements with the Company’s officers the Company recognized a total of $120,000 in compensation expense for the three months ended September 30, 2015. Included in accounts payable at September 30, 2015 is an aggregate amount of $38,774 (June 30, 2015 - $90,820) owed to the Company’s officers and directors for fees and expenses. The Company pays related party payables incurred for fees and expenses under normal commercial terms. The Company paid $41,750 in directors’ fees during the three months ended September 30, 2015. The Company recorded $2,089 in dividends related to the preferred stock issued to Valent. During the three months ended September 30, 2014 Pursuant to consulting agreements with the Company’s officers the Company recognized a total of $145,000 in compensation expense for the three months ended September 30, 2014. The Company paid $24,500 in directors’ fees during the three months ended September 30, 2014. Accrued $2,091 in interest expense on its loan with Valent.

Derivative Liability

Derivative Liability	3 Months Ended
	Sep. 30, 2015
Derivative liability [Abstract]
Derivative liability	6 Derivative liability The Company has issued common stock purchase warrants. Based on the terms of certain of these warrants the Company determined that the warrants were a derivative liability which is recognized at fair value at the date of the transaction and re-measured at fair value each reporting period with the changes in fair value recorded in the consolidated condensed statement of loss and comprehensive loss. Investor Warrants In connection with the Reverse Acquisition (note 1), during the quarter ended March 31, 2013 the Company issued units consisting of one share of common stock and one five-year warrant (the “Investor Warrants”) to purchase one share of common stock at an exercise price of $0.80. The exercise price of the Investor Warrants is subject to adjustment in the event that the Company issues common stock at a price lower than the exercise price, subject to certain exceptions. As a result of the financing completed by the Company during the current quarter (note 6) the exercise price of the Investor Warrants was reduced from $0.80 to $0.786. As a result of the price being reduced, the Company has recognized a loss of $8,098. During the three months ended September 30, 2014 the Company concluded a tender offer whereby the holders of the Investor Warrants had the opportunity to exercise their warrants at an exercise price of $0.65. Under the tender offer, a total of 762,227 warrants were exercised for net proceeds of $470,676 after payment by the Company of a 5% warrant agent fee of $24,772. In addition, during the three months ended September 30, 2014, 87,500 warrants were exercised for 87,500 shares of common stock at an exercise price of $0.65 per warrant. The Company received proceeds of $56,875 from these exercises. As a result of all of the warrant exercises, the Company received net proceeds of $527,551 from the exercise of 849,727 warrants. The warrants that have been exercised were revalued at their exercise date and then the reclassification to equity was recorded. The 4,372,863 Investor Warrants outstanding at September 30, 2015 all have an exercise price of $0.786 and have been re-valued at September 30, 2015 using the adjusted exercise price of $0.786 and using a probability valuation model using the following assumptions: dividend rate - 0%, volatility – 84.1%, risk free rate – 0.85% and a term of approximately 2.25 years. Placement Agent Warrants Also in connection with the reverse acquisition (note 1), on March 6, 2013 the Company issued 5,250,000 warrants (the “Placement Agent Warrants”) that are exercisable at $0.80 per share until March 6, 2018 but can be exercised on a cashless basis. The exercise price of the Placement Agent Warrants is subject to adjustment in the event that the Company sells common stock at a price lower than the exercise price, subject to certain exceptions. As a result of the financing completed by the Company during the current quarter (note 6) the exercise price of the Placement Agent Warrants was reduced from $0.80 to $0.786. As a result of the price being reduced, the Company has recognized a loss of $13,467. The 5,050,000 Placement Agent Warrants outstanding at September 30, 2015 all have an exercise price of $0.786 and have been re-valued at September 30, 2015 using a simulated probability valuation model using the following assumptions: dividend rate - 0%, volatility – 84.1%, risk free rate – 0.85% and a term of approximately 2.25 years. 2015 Agent Warrants As part of the Company’s financing completed during the quarter ended September 30, 2015 (note 7), the Company issued 93,908 warrants to certain placement agents (“2015 Agent Warrants”). The 2015 Agent Warrants are exercisable at a per share price equal to $0.75 during the five-year period commencing six months from the effective date of the Offering, which period shall not extend further than five years from the effective date of the Offering. Therefore, all 2015 Agent Warrants expire on July 15, 2020. The 93,908 2015 Agent Warrants outstanding at September 30, 2015 have been re-valued at September 30, 2015 using a simulated probability valuation model using the following assumptions: dividend rate - 0%, volatility – 80.6%, risk free rate – 1.35% and a term of approximately 5.0 years. Warrants issued for services The Company has issued 300,000 warrants for services. The warrants were issued on September 12, 2013 and are exercisable on a cashless basis at an exercise price of $1.76 for five years. The warrants have been measured at September 30, 2015 using a simulated probability valuation model using the following assumptions: dividend rate - 0%, volatility – 84.2%, risk free rate – 0.97% and a term of approximately 3.0 years. The Company’s derivative liability is summarized as follows: September 30, 2015 $ June 30, 2015 $ (as restated) Opening balance 2,364,381 5,111,007 Issuance of 2015 Agent Warrants 29,594 - Change in fair value of warrants 539,446 (627,433 ) Change in fair value due to change in warrant terms 21,565 (23,658 ) Reclassification to equity upon amendment of warrants - (975,278 ) Reclassification to equity upon exchange of warrants - (728,835 ) Reclassification to equity upon exercise of warrants - (391,422 ) Closing balance 2,954,986 2,364,381

Stockholders' equity

Stockholders' equity	3 Months Ended
	Sep. 30, 2015
Stockholders' Equity [Abstract]
Stockholders' equity	7 Stockholders’ equity Preferred stock Authorized 5,000,000 preferred shares, $0.001 par value Issued and outstanding Special voting shares – at September 30, 2015 – 1 (June 30, 2015 – 1) Series A shares – at September 30, 2015 – 278,530 (June 30, 2015 – 278,530) Effective September 30, 2014 pursuant to the Company’s Valent Exchange Agreement (note 4), the Company filed the Series A Certificate of Designation with the Secretary of State of Nevada. Pursuant to the Series A Certificate of Designation, the Company designated 278,530 shares of preferred stock as Series A Preferred Stock. The shares of Series A Preferred Stock have a stated value of $1.00 per share (the “Stated Value”) and are not convertible into common stock. The holder of the Series A Preferred Stock will be entitled dividends at the rate of 3% of the Stated Value per year, payable quarterly in arrears. Upon any liquidation of the Company, the holder of the Series A Preferred Stock will be entitled to be paid, out of any assets of the Company available for distribution to stockholders, the Stated Value of the shares of Series A Preferred Stock held by such holder, plus any accrued but unpaid dividends thereon, prior to any payments being made with respect to the common stock. Common stock Authorized 200,000,000 common shares, $0.001 par value Issued and outstanding September 30, 2015 – 43,733,598 (June 30, 2015 – 39,455,931) The issued and outstanding common shares at September 30, 2015 include 4,256,042 shares of common stock on an as-exchanged basis with respect to the shares of Exchangeco that can be exchanged for shares of common stock of the Company. Shares of common stock outstanding Common stock Additional paid-in capital Warrants Balance – June 30, 2015 – as previously reported 39,455,931 39,456 17,500,008 6,138,426 Restatement adjustments - - (136,800 ) (6,048,994 ) Balance – June 30, 2015 – as restated 39,455,931 39,456 17,363,208 89,432 Issuance of shares and warrants – net of issue costs 4,277,667 4,278 1,198,453 671,189 Warrants issued for services - - - 16,634 Stock-based compensation - - 39,906 - Balance – September 30, 2015 43,733,598 43,734 18,601,567 777,255 On July 15, 2015 the Company’s Registration Statement on Form S-1 relating to a public offering by the Company of common stock and common stock purchase warrants (the “Offering”) was declared effective by the Securities and Exchange Commission. Pursuant to the Offering, the Company issued 4,277,667 shares of common stock at $0.60 per share and 4,277,667 warrants (the “2015 Offering Warrants”) to purchase shares of common stock at $0.001 per warrant for total gross proceeds of $2,566,660. The 2015 Offering Warrants are exercisable at $0.75 per share for a period of five years until they expire on July 31, 2020. The Company engaged certain placement agents for the sale of a portion of the shares and 2015 Offering Warrants. Under the Company’s engagement agreements with these placement agents, the Company agreed to pay up to a 7% cash commission and issue warrants to purchase shares of common stock (the “2015 Agent Warrants”) up to the number of shares of our common stock equal to 5% of the aggregate number of shares sold in the Offering by such placement agent. Pursuant to the placement agent agreements the Company paid a total cash commission of $80,575 and issued 93,908 2015 Agent Warrants (note 6). The 2015 Agent Warrants are exercisable at a per share price equal to $0.75 during the five-year period commencing six months from the effective date of the Offering, which period shall not extend further than five years from the effective date of the 2015 Offering. Therefore, all 2015 Agent Warrants expire on July 15, 2020. In addition to the cash commission of $80,575 the Company also incurred additional cash issue and closing costs of $582,511 (including costs deferred at June 30, 2015 of $550,119) resulting in net cash proceeds of $1,903,514. The 2015 Agent Warrants have been recognized as non-cash issue costs of $29,594. Stock Options The following table sets forth the options outstanding: Number of stock options outstanding Weighted average exercise price $ Balance – June 30, 2015 3,595,000 0.94 Cancelled (50,000 ) 1.05 Balance – September 30, 2015 3,545,000 0.93 The following table summarizes stock options currently outstanding and exercisable at September 30, 2015: Exercise price $ Number outstanding at September 30, 2015 Weighted average remaining contractual life (years) Weighted average exercise price $ Number exercisable at September 30, 2015 Exercise price $ 0.37 825,000 6.38 0.37 825,000 0.37 0.74 180,000 9.35 0.74 91,389 0.74 0.80 120,000 9.50 0.80 60,000 0.80 1.00 300,000 4.00 1.00 50,000 1.00 1.05 1,820,000 7.88 1.05 1,633,333 1.05 1.54 180,000 7.50 1.54 180,000 1.54 2.30 120,000 7.67 2.30 120,000 2.30 3,545,000 0.93 2,959,722 0.93 Included in the number of stock options outstanding are 825,000 stock options granted at an exercise price of CDN $0.50. The exercise prices shown in the above table have been converted to $0.37 using the period ending closing exchange rate. Certain stock options have been granted to non-employees and will be revalued at each reporting date until they have fully vested. The stock options have been re-valued using a Black-Scholes pricing model using the following assumptions: September 30, 2015 Dividend rate 0% Volatility 76% to 96.9% Risk-free rate 1.00 Term - years 0.5 to 1.0 The Company has recognized the following amounts as stock-based compensation expense for the periods noted: Three months ended September 30, 2015 $ 2014 $ Research and development 6,455 21,133 General and administrative 33,451 27,807 39,906 48,940 A summary of the status of the Company’s unvested stock options under all plans is presented below: Number of Options Weighted average exercise price $ Weighted average grant date fair value $ Unvested at June 30, 2015 722,361 0.95 0.41 Vested (87,083 ) 0.84 0.44 Cancelled (50,000 ) 1.05 0.57 Unvested at September 30, 2015 585,278 0.96 0.39 Warrants Certain of the Company’s warrants have been recognized as a derivative liability (note 6). The following table summarizes all of the Company’s outstanding warrants as of September 30, 2015: Description Number Balance – June 30, 2015 13,472,870 2015 Offering Warrants (i) 4,277,667 2015 Agent Warrants (ii) 93,908 Warrants issued for services (iii) 60,000 Balance - September 30, 2015 17,904,445 i) Issued as part of the Company’s public offering completed in August 2015. Warrants are exercisable at $0.75 until July 31, 2020. ii) Issued as part of the Company’s public offering completed in August 2015. The 2015 Agent Warrants are exercisable at a per share price equal to $0.75 during the five-year period commencing six months from the effective date of the Offering, which period shall not extend further than five years from the effective date of the 2015 Offering. Therefore, all 2015 Agent Warrants expire on July 15, 2020. iii) Warrants vest in tranches of 20,000 warrants each on November 30, 2015, December 31, 2015, and January 31, 2016 and are exercisable commencing January 1, 2016 at $0.75 until they expire on July 31, 2020.

Financial instruments

Financial instruments	3 Months Ended
	Sep. 30, 2015
Financial instruments [Abstract]
Financial instruments	8 Financial instruments The Company has financial instruments that are measured at fair value. To determine the fair value, we use the fair value hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs market participants would use to value an asset or liability and are developed based on market data obtained from independent sources. Unobservable inputs are inputs based on assumptions about the factors market participants would use to value an asset or liability. The three levels of inputs that may be used to measure fair value are as follows: ● Level one - inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities; ● Level two - inputs are inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly such as interest rates, foreign exchange rates, and yield curves that are observable at commonly quoted intervals; and ● Level three - unobservable inputs developed using estimates and assumptions, which are developed by the reporting entity and reflect those assumptions that a market participant would use. Assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurements. Changes in the observability of valuation inputs may result in a reclassification of levels for certain securities within the fair value hierarchy. The Company’s financial instruments consist of cash and cash equivalents, other receivables, accounts payable, related party payables and derivative liability. The carrying values of cash and cash equivalents, other receivables, accounts payable and related party payables approximate their fair values due to the immediate or short-term maturity of these financial instruments. Derivative liability The Company accounts for certain warrants under the authoritative guidance on accounting for derivative financial instruments indexed to, and potentially settled in, a company’s own stock, on the understanding that in compliance with applicable securities laws, the warrants require the issuance of securities upon exercise and do not sufficiently preclude an implied right to net cash settlement. The Company classifies these warrants on its balance sheet as a derivative liability which is fair valued at each reporting period subsequent to the initial issuance. The Company has used a simulated probability valuation model to value the warrants. Determining the appropriate fair-value model and calculating the fair value of warrants requires considerable judgment. Any change in the estimates (specifically probabilities) used may cause the value to be higher or lower than that reported. The estimated volatility of the Company’s common stock at the date of issuance, and at each subsequent reporting period, is based on the historical volatility of similar life sciences companies. The risk-free interest rate is based on rates published by the government for bonds with a maturity similar to the expected remaining life of the warrants at the valuation date. The expected life of the warrants is assumed to be equivalent to their remaining contractual term. a) Fair value of derivative liability The derivative is not traded in an active market and the fair value is determined using valuation techniques. The Company uses judgment to select a variety of methods to make assumptions that are based on specific management plans and market conditions at the end of each reporting period. The Company uses a fair value estimate to determine the fair value of the derivative liability. The carrying value of the derivative liability would be higher or lower as management estimates around specific probabilities change. The estimates may be significantly different from those recorded in the consolidated financial statements because of the use of judgment and the inherent uncertainty in estimating the fair value of these instruments that are not quoted in an active market. All changes in the fair value are recorded in the consolidated statement of operations and comprehensive loss each reporting period. This is considered to be a Level 2 financial instrument. The Company has the following liabilities under the fair value hierarchy: September 30, 2015 Liability Level 1 Level 2 Level 3 Derivative liability - 2,954,986 - June 30, 2015 (as restated) Liability Level 1 Level 2 Level 3 Derivative liability - 2,364,381 -

Significant Accounting Polici14

Significant Accounting Policies (Policies)	3 Months Ended
	Sep. 30, 2015
Significant Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The consolidated condensed interim financial statements of the Company have been prepared in accordance with United States Generally Accepted Accounting Principles (“U.S. GAAP”) and are presented in United States dollars. The Company’s functional currency is the United States dollar. The accompanying consolidated condensed interim financial statements include the accounts of the Company and its wholly-owned subsidiaries, DelMar BC, Callco, and Exchangeco. All intercompany balances and transactions have been eliminated. The principal accounting policies applied in the preparation of these financial statements are set out below and have been consistently applied to all periods presented.
Unaudited interim financial data	Unaudited interim financial data
Use of estimates	Use of estimates The preparation of consolidated condensed interim financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions about future events that affect the reported amounts of assets, liabilities, expenses, contingent assets and contingent liabilities as at the end or during the reporting period. Actual results could significantly differ from those estimates. Significant areas requiring management to make estimates include the derivative liability and the valuation of equity instruments issued for services. There have been no changes to the methodology used in determining these estimates from the period ended June 30, 2015.
Loss per share	Loss per share Loss per share is calculated based on the weighted average number of common shares outstanding. For the three month periods ended September 30, 2015 and 2014 diluted loss per share does not differ from basic loss per share since the effect of the Company’s warrants and stock options are anti-dilutive. At September 30, 2015, potential common shares of 17,904,445 (September 30, 2014 – 17,790,758) relating to warrants and 3,545,000 (September 30, 2014 – 3,115,000) relating to stock options were excluded from the calculation of net loss per common share because their inclusion would be anti-dilutive.
Recent accounting pronouncements	Recent accounting pronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) or other standard setting bodies that are adopted by the Company as of the specified effective date. Unless otherwise discussed, we believe that the impact of recently issued standards that are not yet effective will not have a material impact on our financial position or results of operations upon adoption. Accounting Standards Update (“ASU”) 2014-15 - Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern The objective of the guidance is to require management to explicitly assess an entity's ability to continue as a going concern, and to provide related footnote disclosures in certain circumstances. In connection with each annual and interim period, management will assess if there is substantial doubt about an entity's ability to continue as a going concern within one year after the issuance date of an entity’s financial statements. The new standard defines substantial doubt and provides examples of indicators thereof. The definition of substantial doubt incorporates a likelihood threshold of "probable" similar to the current use of that term in U.S. GAAP for loss contingencies. The new standard will be effective for all entities in the first annual period ending after December 15, 2016 (December 31, 2016 for calendar year-end entities). Earlier application is permitted. The Company is currently assessing this standard for its impact on future reporting periods.

Restatement of previously iss15

Restatement of previously issued financial statements (Tables)	3 Months Ended
	Sep. 30, 2015
Restatement of Previously Issued Financial Statements [Abstract]
Schedule of aggregate impacts of correcting the errors relating to the Placement Agent Warrants	September 30, 2014 As previously reported $ Restatement adjustment $ As restated $ Change in fair value of derivative liability 368,594 194,375 562,969 Loss for the period 1,322,361 194,375 1,516,736 Basic and diluted loss per share 0.04 0.00 0.04 September 30, 2014 As previously reported $ Restatement adjustment $ As restated $ Derivative liability 3,458,662 1,976,015 5,434,677 Additional paid-in capital 13,982,362 (136,800 ) 13,845,562 Warrants 6,187,805 (6,048,994 ) 138,811 Accumulated deficit (19,985,775 ) 4,209,779 (15,775,996 )

Derivative Liability (Tables)

Derivative Liability (Tables)	3 Months Ended
	Sep. 30, 2015
Derivative liability [Abstract]
Shedule of derivative liabilities	September 30, 2015 $ June 30, 2015 $ (as restated) Opening balance 2,364,381 5,111,007 Issuance of 2015 Agent Warrants 29,594 - Change in fair value of warrants 539,446 (627,433 ) Change in fair value due to change in warrant terms 21,565 (23,658 ) Reclassification to equity upon amendment of warrants - (975,278 ) Reclassification to equity upon exchange of warrants - (728,835 ) Reclassification to equity upon exercise of warrants - (391,422 ) Closing balance 2,954,986 2,364,381

Stockholders' equity (Tables)

Stockholders' equity (Tables)	3 Months Ended
	Sep. 30, 2015
Stockholders' Equity [Abstract]
Schedule of common stock issued and outstanding	Shares of common stock outstanding Common stock Additional paid-in capital Warrants Balance – June 30, 2015 – as previously reported 39,455,931 39,456 17,500,008 6,138,426 Restatement adjustments - - (136,800 ) (6,048,994 ) Balance – June 30, 2015 – as restated 39,455,931 39,456 17,363,208 89,432 Issuance of shares and warrants – net of issue costs 4,277,667 4,278 1,198,453 671,189 Warrants issued for services - - - 16,634 Stock-based compensation - - 39,906 - Balance – September 30, 2015 43,733,598 43,734 18,601,567 777,255
Schedule of options outstanding under the plan	Number of stock options outstanding Weighted average exercise price $ Balance – June 30, 2015 3,595,000 0.94 Cancelled (50,000 ) 1.05 Balance – September 30, 2015 3,545,000 0.93
Schedule of stock options currently outstanding and exercisable	Exercise price $ Number outstanding at September 30, 2015 Weighted average remaining contractual life (years) Weighted average exercise price $ Number exercisable at September 30, 2015 Exercise price $ 0.37 825,000 6.38 0.37 825,000 0.37 0.74 180,000 9.35 0.74 91,389 0.74 0.80 120,000 9.50 0.80 60,000 0.80 1.00 300,000 4.00 1.00 50,000 1.00 1.05 1,820,000 7.88 1.05 1,633,333 1.05 1.54 180,000 7.50 1.54 180,000 1.54 2.30 120,000 7.67 2.30 120,000 2.30 3,545,000 0.93 2,959,722 0.93
Schedule of stock options valuation assumptions using a Black-Scholes pricing model	September 30, 2015 Dividend rate 0% Volatility 76% to 96.9% Risk-free rate 1.00 Term - years 0.5 to 1.0
Schedule of stock-based compensation expense	Three months ended September 30, 2015 $ 2014 $ Research and development 6,455 21,133 General and administrative 33,451 27,807 39,906 48,940
Schedule of unvested stock options	Number of Options Weighted average exercise price $ Weighted average grant date fair value $ Unvested at June 30, 2015 722,361 0.95 0.41 Vested (87,083 ) 0.84 0.44 Cancelled (50,000 ) 1.05 0.57 Unvested at September 30, 2015 585,278 0.96 0.39
Schedule of outstanding warrants	Description Number Balance – June 30, 2015 13,472,870 2015 Offering Warrants (i) 4,277,667 2015 Agent Warrants (ii) 93,908 Warrants issued for services (iii) 60,000 Balance - September 30, 2015 17,904,445 i) Issued as part of the Company’s public offering completed in August 2015. Warrants are exercisable at $0.75 until July 31, 2020. ii) Issued as part of the Company’s public offering completed in August 2015. The 2015 Agent Warrants are exercisable at a per share price equal to $0.75 during the five-year period commencing six months from the effective date of the Offering, which period shall not extend further than five years from the effective date of the 2015 Offering. Therefore, all 2015 Agent Warrants expire on July 15, 2020. iii) Warrants vest in tranches of 20,000 warrants each on November 30, 2015, December 31, 2015, and January 31, 2016 and are exercisable commencing January 1, 2016 at $0.75 until they expire on July 31, 2020.

Financial instruments (Tables)

Financial instruments (Tables)	3 Months Ended
	Sep. 30, 2015
Financial instruments [Abstract]
Schedule of derivative liabilities under the fair value hierarchy	September 30, 2015 Liability Level 1 Level 2 Level 3 Derivative liability - 2,954,986 - June 30, 2015 (as restated) Liability Level 1 Level 2 Level 3 Derivative liability - 2,364,381 -

Going concern, Nature of oper19

Going concern, Nature of operations, and Corporate History (Details Textual) - USD ($)	3 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Going Concern, Nature of Operations, and Corporate History [Abstract]
Net loss	$ 1,621,388	$ 1,516,736	$ 4,347,767
Negative cash flow from operations	(1,401,881)	(971,516)
Accumulated deficit	(20,236,771)	(15,775,996)	(18,613,294)
Cash and cash equivalents	2,804,096	$ 4,315,746	$ 1,754,433	$ 4,759,711
Working capital	2,619,924
Gross proceeds from exercise of warrants	$ 2,566,660

Restatement of previously iss20

Restatement of previously issued financial statements (Details) - USD ($)	3 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Change in fair value of derivative liability	$ 539,446	$ 562,969
Loss for the period	(1,621,388)	$ (1,516,736)	$ (4,347,767)
Basic and diluted loss per share		$ 0.04
Derivative liability	2,954,986	$ 5,434,677	2,364,381	$ 5,111,007
Additional paid-in capital	18,601,567	13,845,562	17,363,208
Warrants	777,255	138,811	89,432
Accumulated deficit	$ (20,236,771)	(15,775,996)	$ (18,613,294)
As previously reported [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Change in fair value of derivative liability		(368,594)
Loss for the period		$ 1,322,361
Basic and diluted loss per share		$ 0.04
Derivative liability		$ 3,458,662
Additional paid-in capital		13,982,362
Warrants		6,187,805
Accumulated deficit		(19,985,775)
Restatement adjustment [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Change in fair value of derivative liability		(194,375)
Loss for the period		$ 194,375
Basic and diluted loss per share		$ 0
Derivative liability		$ 1,976,015
Additional paid-in capital		(136,800)
Warrants		(6,048,994)
Accumulated deficit		$ 4,209,779

Significant Accounting Polici21

Significant Accounting Policies (Details) - shares	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Warrants [Member]
Significant Accounting Policies [Line Items]
Antidilutive securities excluded from computation of earnings per share	17,904,445	17,790,758
Stock options [Member]
Significant Accounting Policies [Line Items]
Antidilutive securities excluded from computation of earnings per share	3,545,000	3,115,000

Valent Technologies LLC (Detail

Valent Technologies LLC (Details) - USD ($)	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2015
Agreement [Line Items]
Preferred Stock, par value (in dollars per share)	$ 0.001		$ 0.001
Increase in accumulated deficit	$ 2,089
Interest expense		$ (2,091)
Series A Preferred Stock [Member]
Agreement [Line Items]
Preferred stock, issued	278,530		278,530
Preferred Stock, dividend rate percentage		3.00%
Valent Technologies, LLC [Member]
Agreement [Line Items]
Loan payable		$ 278,530
Aggregate accrued interest		$ 28,530
Preferred stock, issued		2,089
Interest expense		$ 2,091
Dividends payable	$ 2,089
Valent Technologies, LLC [Member] | Series A Preferred Stock [Member]
Agreement [Line Items]
Preferred Stock, par value (in dollars per share)		$ 1
Preferred stock, issued		278,530
Preferred Stock, dividend rate percentage		3.00%

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2015
Related Party Transactions (Textuals)
Aggregate amount owing to officers and directors for fees and expenses	$ 38,774		$ 90,820
Interest Expense		$ (2,091)
Valent Technologies, LLC [Member]
Related Party Transactions (Textuals)
Dividends Payable	$ 2,089
Interest Expense		2,091
Officer and Director | Consulting Agreement
Related Party Transactions (Textuals)
Cash compensation to officers	120,000	145,000
Aggregate amount owing to officers and directors for fees and expenses	38,774		$ 90,820
Director fees recognized	$ 41,750	$ 24,500

Derivative Liability (Details)

Derivative Liability (Details) - USD ($)	3 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2015
Schedule of derivative liabilities [Roll Forward]
Opening balance	$ 2,364,381	$ 5,111,007	$ 5,111,007
Issuance of 2015 Agent Warrants	29,594
Change in fair value of warrants	539,446	562,969	$ (627,433)
Change in fair value due to change in warrant terms	$ (21,565)	167,190	(23,658)
Reclassification to equity upon amendment of warrants			(975,278)
Reclassification to equity upon exchange of warrants			(728,835)
Reclassification to equity upon exercise of warrants		72,109	(391,422)
Closing balance	$ 2,954,986	$ 5,434,677	$ 2,364,381

Derivative Liability (Details T

Derivative Liability (Details Textual) - USD ($)	Sep. 12, 2013	Sep. 30, 2015	Sep. 30, 2014	Mar. 06, 2013
Derivative [Line Items]
Exercise Price		$ 0.786	$ 0.65
Gross proceeds from exercise of warrants			$ 56,875
Net proceeds from the exercise of warrants			$ 527,551
Common stock shares issued on exercise of warrants			849,727
Placement Agent Warrants
Derivative [Line Items]
Exercise Price				$ 0.80
Recognized loss		$ 13,467
Number of warrants of exercised				5,250,000
Number of warrants outstanding		5,050,000
2015 Agent Warrants
Derivative [Line Items]
Exercise Price		$ 0.75
Number of warrants of exercised		93,908
Number of warrants outstanding		93,908
Warrants expiration date		Jul. 15, 2020
Investor Warrants [Member]
Derivative [Line Items]
Reverse acquisition description		The Company issued units consisting of one share of common stock and one five-year warrant (the "Investor Warrants") to purchase one share of common stock at an exercise price of $0.80.
Exercise Price		$ 0.786	$ 0.65
Recognized loss		$ 8,098
Number of warrants of exercised			762,227
Agent fee of warrants			$ 24,772
Percentage of agent fee of warrant			5.00%
Net proceeds from the exercise of warrants			$ 470,676
Common stock shares issued on exercise of warrants			87,500
Number of warrants outstanding		4,372,863
Investor Warrants [Member] | Maximum [Member]
Derivative [Line Items]
Exercise Price		$ 0.786
Investor Warrants [Member] | Minimum [Member]
Derivative [Line Items]
Exercise Price		$ 0.80
Warrants Issued for Services [Member]
Derivative [Line Items]
Exercise Price	$ 1.76
Term of warrants	5 years
Number of warrants issued	300,000

Derivative Liability (Details26

Derivative Liability (Details Textual 1)	3 Months Ended
	Sep. 30, 2015
Private Placement [Member]
Derivative [Line Items]
Fair value assumptions dividend rate	0.00%
Fair value assumptions volatility rate	84.10%
Fair value assumptions risk free rate	0.85%
Fair value assumptions expected term	2 years 3 months
2015 Agent Warrants
Derivative [Line Items]
Fair value assumptions dividend rate	0.00%
Fair value assumptions volatility rate	80.60%
Fair value assumptions risk free rate	1.35%
Fair value assumptions expected term	5 years
Investor Warrants [Member]
Derivative [Line Items]
Fair value assumptions dividend rate	0.00%
Fair value assumptions volatility rate	84.10%
Fair value assumptions risk free rate	0.85%
Fair value assumptions expected term	2 years 3 months
Warrants Issued for Services [Member]
Derivative [Line Items]
Fair value assumptions dividend rate	0.00%
Fair value assumptions volatility rate	84.20%
Fair value assumptions risk free rate	0.97%
Fair value assumptions expected term	3 years

Stockholders' equity (Details)

Stockholders' equity (Details)	3 Months Ended
	Sep. 30, 2015USD ($)shares
Schedule Of Common Stock Issued And Outstanding [Line Items]
Balance	$ (821,490)
Balance	(514,507)
Common stock [Member]
Schedule Of Common Stock Issued And Outstanding [Line Items]
Balance	$ 39,456
Balance (in shares) | shares	39,455,931
Issuance of shares and warrants - net of issue costs	$ 4,278
Issuance of shares and warrants - net of issue costs, shares | shares	4,277,667
Warrants issued for services
Warrants issued for services, shares | shares
Stock-based compensation
Balance	$ 43,734
Balance (in shares) | shares	43,733,598
Common stock [Member] | As previously reported [Member]
Schedule Of Common Stock Issued And Outstanding [Line Items]
Balance	$ 39,456
Balance (in shares) | shares	39,455,931
Additional paid-in capital [Member]
Schedule Of Common Stock Issued And Outstanding [Line Items]
Balance	$ 17,363,208
Issuance of shares and warrants - net of issue costs	$ 1,198,453
Warrants issued for services
Stock-based compensation	$ 39,906
Balance	18,601,567
Additional paid-in capital [Member] | As previously reported [Member]
Schedule Of Common Stock Issued And Outstanding [Line Items]
Balance	17,500,008
Additional paid-in capital [Member] | Restatement adjustment [Member]
Schedule Of Common Stock Issued And Outstanding [Line Items]
Balance	(136,800)
Warrants [Member]
Schedule Of Common Stock Issued And Outstanding [Line Items]
Balance	89,432
Issuance of shares and warrants - net of issue costs	671,189
Warrants issued for services	$ 16,634
Stock-based compensation
Balance	$ 777,255
Warrants [Member] | As previously reported [Member]
Schedule Of Common Stock Issued And Outstanding [Line Items]
Balance	6,138,426
Warrants [Member] | Restatement adjustment [Member]
Schedule Of Common Stock Issued And Outstanding [Line Items]
Balance	$ (6,048,994)

Stockholders' equity (Details 1

Stockholders' equity (Details 1) - Stock options [Member]	3 Months Ended
	Sep. 30, 2015$ / sharesshares
Number of stock options outstanding
Beginning balance | shares	3,595,000
Cancelled | shares	(50,000)
Ending balance | shares	3,545,000
Weighted average exercise price
Weighted average exercise price, Beginning balance	$ 0.94
Weighted average exercise price, Cancelled	1.05
Weighted average exercise price, Ending balance	$ 0.93

Stockholders' equity (Details 2

Stockholders' equity (Details 2) - Stock options [Member] - $ / shares	3 Months Ended
	Sep. 30, 2015	Jun. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock options outstanding	3,545,000	3,595,000
Weighted average exercise price	$ 0.93	$ 0.94
Number of stock options exercisable	2,959,722
Exercise price	$ 0.93
0.37 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price	$ 0.37
Number of stock options outstanding	825,000
Weighted average remaining contractual life (years)	6 years 4 months 17 days
Weighted average exercise price	$ 0.37
Number of stock options exercisable	825,000
Exercise price	$ 0.37
0.74 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price	$ 0.74
Number of stock options outstanding	180,000
Weighted average remaining contractual life (years)	9 years 4 months 6 days
Weighted average exercise price	$ 0.74
Number of stock options exercisable	91,389
Exercise price	$ 0.74
0.80 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price	$ 0.80
Number of stock options outstanding	120,000
Weighted average remaining contractual life (years)	9 years 6 months
Weighted average exercise price	$ 0.80
Number of stock options exercisable	60,000
Exercise price	$ 0.80
1.00 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price	$ 1
Number of stock options outstanding	300,000
Weighted average remaining contractual life (years)	4 years
Weighted average exercise price	$ 1
Number of stock options exercisable	50,000
Exercise price	$ 1
1.05 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price	$ 1.05
Number of stock options outstanding	1,820,000
Weighted average remaining contractual life (years)	7 years 10 months 17 days
Weighted average exercise price	$ 1.05
Number of stock options exercisable	1,633,333
Exercise price	$ 1.05
1.54 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price	$ 1.54
Number of stock options outstanding	180,000
Weighted average remaining contractual life (years)	7 years 6 months
Weighted average exercise price	$ 1.54
Number of stock options exercisable	180,000
Exercise price	$ 1.54
2.30 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price	$ 2.30
Number of stock options outstanding	120,000	120,000
Weighted average remaining contractual life (years)	7 years 8 months 1 day
Weighted average exercise price	$ 2.30	$ 2.30
Number of stock options exercisable	120,000
Exercise price	$ 2.30

Stockholders' equity (Details 3

Stockholders' equity (Details 3) - Stock options [Member]	3 Months Ended
	Sep. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend rate	0.00%
Risk-free rate	1.00%
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility	76.00%
Term - years	6 months
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility	96.90%
Term - years	1 year

Stockholders' equity (Details 4

Stockholders' equity (Details 4) - USD ($)	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 39,906	$ 48,940
Research and development [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	6,455	21,133
General and administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 33,451	$ 27,807

Stockholders' equity (Details 5

Stockholders' equity (Details 5) - Stock options [Member]	3 Months Ended
	Sep. 30, 2015$ / sharesshares
Number of Options
Number of options unvested, Beginning balance | shares	722,361
Number of options, Vested | shares	(87,083)
Number of options, Cancelled | shares	(50,000)
Number of options unvested, Ending balance | shares	585,278
Weighted Average Exercise Price
Weighted average exercise price unvested, Beginning balance	$ 0.95
Weighted average exercise price unvested, Vested	0.84
Weighted average exercise price unvested, Cancelled	1.05
Weighted average exercise price unvested, Ending balance	0.96
Weighted Average Grant Date Fair Value
Weighted average grant date fair value, unvested, Beginning balance	0.41
Weighted average grant date fair value, unvested, Vested	0.44
Weighted average grant date fair value, unvested, Cancelled	0.57
Weighted average grant date fair value, unvested, Ending balance	$ 0.39

Stockholders' equity (Details 6

Stockholders' equity (Details 6)	3 Months Ended
	Sep. 30, 2015shares
Number Of Warrants [Roll Forward]
Beginning Balance	13,472,870
2015 Offering Warrants	4,277,667	[1]
2015 Agent Warrants	93,908	[2]
Warrants issued for services	60,000	[3]
Ending Balance	17,904,445
[1]	Issued as part of the Company's public offering completed in August 2015. Warrants are exercisable at $0.75 until July 31, 2020.
[2]	Issued as part of the Company's public offering completed in August 2015. The 2015 Agent Warrants are exercisable at a per share price equal to $0.75 during the five-year period commencing six months from the effective date of the Offering, which period shall not extend further than five years from the effective date of the 2015 Offering. Therefore, all 2015 Agent Warrants expire on July 15, 2020.
[3]	Warrants vest in tranches of 20,000 warrants each on November 30, 2015, December 31, 2015, and January 31, 2016 and are exercisable commencing January 1, 2016 at $0.75 until they expire on July 31, 2020.

Stockholders' equity (Details T

Stockholders' equity (Details Textual) - $ / shares	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2015
Stockholders Equity Note [Line Items]
Preferred stock, par value	$ 0.001		$ 0.001
Preferred stock, shares authorized	5,000,000		5,000,000
Preferred stock special voting shares issued	1		1
Common stock, shares authorized	200,000,000		200,000,000
Common stock, par value	$ 0.001		$ 0.001
Common stock, shares issued (in shares)	43,733,598		39,455,931
Stock issued and outstanding on exchanged basis	4,256,042
Series A Preferred Stock [Member]
Stockholders Equity Note [Line Items]
Preferred stock, issued	278,530		278,530
Preferred stock, shares outstanding	278,530		278,530
Preferred Stock, dividend rate percentage		3.00%
Exchange Agreement | Series A Preferred Stock [Member]
Stockholders Equity Note [Line Items]
Preferred stock, par value	$ 1

Stockholders' equity (Details35

Stockholders' equity (Details Textual 1)		Jul. 15, 2015USD ($)$ / sharesshares	Sep. 30, 2015USD ($)$ / sharesshares	Sep. 30, 2015USD ($)$ / sharesCAD / shares	Sep. 30, 2014USD ($)$ / sharesshares	Jun. 30, 2015USD ($)$ / shares
Stockholders Equity Note [Line Items]
Stock options granted | shares			825,000
Stock Option Expense			$ 39,906		$ 48,940
Exercise price | (per share)			$ 0.37	CAD 0.50
Stock option liability			$ 179,445	CAD 179,445	2,344	$ 179,445
Aggregate intrinsic value of stock options outstanding			329,051	329,051	423,679,000
Aggregate intrinsic value of stock options exercisable			326,674	326,674	$ 396,368
Unrecognized compensation expense			$ 24,033	CAD 24,033
Unrecognized compensation expense, period of recognition			1 year
Common stock shares issued on exercise of warrants | shares					849,727
Common stock, par value | $ / shares			$ 0.001	CAD 0.001		$ 0.001
Exercise Price | $ / shares			$ 0.786	CAD 0.786	$ 0.65
Number of warrants issued to agents | shares	[1]		93,908
Issuance of cash			$ 582,511
Net proceeds from exercise of warrants			$ 2,566,660
Deferred costs						$ 550,119
November 30, 2015
Stockholders Equity Note [Line Items]
Warrants vest in tranches | shares			20,000
December 31, 2015
Stockholders Equity Note [Line Items]
Warrants vest in tranches | shares			20,000
January 31, 2016
Stockholders Equity Note [Line Items]
Warrants vest in tranches | shares			20,000
Common Stock [Member]
Stockholders Equity Note [Line Items]
Stock option recognized as additional paid in capital
Common stock shares issued on exercise of warrants | shares		4,277,667
Issuance of shares and warrants - net of issue costs, shares | shares			4,277,667
Common stock, par value | $ / shares		$ 0.60
Net proceeds from exercise of warrants		$ 2,566,660
Warrant [Member]
Stockholders Equity Note [Line Items]
Stock option recognized as additional paid in capital
Investment Warrants, Exercise Price | $ / shares		$ 0.001
2015 Agent Warrants
Stockholders Equity Note [Line Items]
Exercise Price | $ / shares			$ 0.75	CAD 0.75
Total cash commission			$ 80,575
Issuance of noncash finance			$ 29,594
2015 offering warrants [Member]
Stockholders Equity Note [Line Items]
Common stock shares issued on exercise of warrants | shares		4,277,667
Investment Warrants, Exercise Price | $ / shares		$ 0.75
Sale of stock description		Under the Company's engagement agreements with these placement agents, the Company agreed to pay up to a 7% cash commission and issue warrants to purchase shares of common stock (the "2015 Agent Warrants'') up to the number of shares of our common stock equal to 5% of the aggregate number of shares sold in the Offering by such placement agent.
Net proceeds from exercise of warrants		$ 2,566,660
[1]	Issued as part of the Company's public offering completed in August 2015. The 2015 Agent Warrants are exercisable at a per share price equal to $0.75 during the five-year period commencing six months from the effective date of the Offering, which period shall not extend further than five years from the effective date of the 2015 Offering. Therefore, all 2015 Agent Warrants expire on July 15, 2020.

Financial instruments (Details)

Financial instruments (Details) - USD ($)	Sep. 30, 2015	Jun. 30, 2015	Sep. 30, 2014	Jun. 30, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	$ 2,954,986	$ 2,364,381	$ 5,434,677	$ 5,111,007
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	$ 2,954,986	$ 2,364,381
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability