Bionik Laboratories (BNKL) 10-K 15 Apr 15 2014 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
	Dec. 31, 2014	Apr. 15, 2015	Jun. 30, 2014
Document and Entity Information:
Entity Registrant Name	Bionik Laboratories Corp.
Document Type	10-K
Document Period End Date	31-Dec-14
Amendment Flag	FALSE
Entity Central Index Key	1508381
Current Fiscal Year End Date	-19
Entity Common Stock, Shares Outstanding		65,839,500
Entity Public Float			$16,746
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	Yes
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY

Bionik_Laboratories_Corp_fka_D

Bionik Laboratories Corp. (f/k/a Drywave Technologies, Inc.) Consolidated Balance Sheets (USD $)	Dec. 31, 2014	Dec. 31, 2013
Current assets
Cash	$3,242	$4,422
Total current assets	3,242	4,422
Total Assets	3,242	4,422
Current liabilities:
Accrued payable and accrued expenses	16,474	150
Due to related party	26,106	14,082
Total current liabilities	42,580	14,232
Total liabilities	42,580	14,232
Stockholders' deficit:
Preferred stock, $0.001 par value; 10,000,000 shares authorized; none issued and outstanding	0	0
Common stock, $0.001 par value, 200,000,000 shares authorized; 96,589,680 shares issued and outstanding, December 31, 2014 and 2013	96,590	96,590
Additional paid-in capital	-71,377	-71,377
Deficit accumulated during the development stage	-64,551	-35,023
Total stockholders' deficit	-39,338	-9,810
Total Liabilities and Stockholders' Deficit	$3,242	$4,422

Bionik_Laboratories_Corp_fka_D1

Bionik Laboratories Corp. (f/k/a Drywave Technologies, Inc.) - Consolidated Balance Sheets (Parantheticals)(USD $) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Statement of Financial Position
Preferred stock, par value (in dollars per share)	$0.00	$0.00
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	96,589,680	96,589,680
Common stock, shares outstanding	96,589,680	96,589,680

Bionik_Laboratories_Corp_fka_D2

Bionik Laboratories Corp. (f/k/a Drywave Technologies, Inc.) - Consolidated Statements of Operations (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Income Statement
Revenue - related party	$6,000	$5,200
Cost of sales - related party	7,000	0
Gross profit (loss)	-1,000	5,200
Operating expenses
General and administrative	28,528	18,309
Total operating expenses	28,528	18,309
Income (loss) from operations	-29,528	-13,109
Income tax	0	0
Net income (loss)	($29,528)	($13,109)
Net income (loss) per common share - basic and diluted	$0	$0
Weighted average number of common shares outstanding - basic and diluted	96,589,680	96,589,680

Bionik_Laboratories_Corp_fka_D3

Bionik Laboratories Corp. (f/k/a Drywave Technologies, Inc.) - Consolidated Statement of Changes in Stockholders' Equity (Deficit) For the Years Ended December 31, 2014 and 2013 (USD $)	Common Stock, $0.001 Par Value	Additional Paid-in Capital	Deficit Accumulated During the Development Stage	Total Stockholders' Equity (Deficit)
Balance at beginning of period at Dec. 31, 2012	$96,590	($71,377)	($21,914)	$3,299
Balance at beginning of period, Shares at Dec. 31, 2012	96,589,680
Net loss for the period	0	0	-13,109	-13,109
Balances at end of period at Dec. 31, 2013	96,590	-71,377	-35,023	-9,810
Balance at end of period, shares at Dec. 31, 2013	96,589,680
Balance at beginning of period at Dec. 31, 2013
Net loss for the period	0	0	-29,528	-29,528
Balances at end of period at Dec. 31, 2014	$96,590	($71,377)	($64,551)	($39,338)
Balance at end of period, shares at Dec. 31, 2014	96,589,680

Bionik_Laboratories_Corp_fka_D4

Bionik Laboratories Corp. (f/k/a Drywave Technologies, Inc.) - Consolidated Statements of Cash Flows (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	($29,528)	($13,109)
Changes in operating assets and liabilities:
Accrued payable and accrued expenses	16,324	-1,500
Net Cash Used In Operating Activities	-13,204	-14,609
CASH FLOWS FROM FINANCING ACTIVITIES:
Due to related party	12,024	14,082
Net Cash Provided By Financing Activities	12,024	14,082
Net increase (decrease) in cash	-1,180	-527
Cash - Beginning of Period	4,422	4,949
Cash - End of Period	3,242	4,422
Cash Paid During the Period for:
Income tax	0	0
Interest	$0	$0

Note_1_Nature_of_Operations

Note 1 Nature of Operations	12 Months Ended
	Dec. 31, 2014
Notes
Note 1 Nature of Operations	Note 1 Nature of Operations
	Bionik Laboratories Corp. (“Bionik”, “the Company”, “we”, “us” or “our”)   was incorporated on January 8, 2010 in the State of Colorado under the name Strategic Dental Management Corp. Our initial business plan was to build dental practices from scratch or to acquire existing dental practices and manage all aspects of the dental practices including payroll, human resources, collections, personnel, training, etc.  In addition, we planned to consult with other dental practices and train employees, manage day to day operations, provide all financial and accounting services, etc.
	On March 6, 2013, the Company came under new ownership and while continuing with its existing business plan, the Company also started to seek new business opportunities including the acquisition of, or merger with, an existing business.
	On July 16, 2013, the Company changed its name from Strategic Dental Management Corp. to Drywave Technologies, Inc. and changed its state of incorporation from Colorado to Delaware as part of preliminary negotiations for a potential merger that subsequently proved to be abortive.
	Subsequent to December 31, 2014, as disclosed in more fully in Note 8 - Subsequent Events below, effective February 13, 2015, the Company changed its name from Drywave Technologies, Inc. to Bionik Laboratories Corp. and effective February 26, 2015, acquired Bionik Laboratories, Inc., a Toronto Corporation, which is an innovative medical-robotics company that develops healthcare solutions for patients with restricted physical mobility. Prior to February 26, 2015, the Company spun off its existing dental consulting business, all its assets (except its cash balances) and liabilities.
	Consequently, subsequent to February 26, 2015, we are now a medical device company, specializing in the designing, developing and commercializing of cost-effective physical rehabilitation technologies, prosthetics, and assisted robotic products. We strive to innovate and build devices that improve an individual’s health, comfort, accessibility and quality of life through the use of advanced algorithms and sensing technologies that anticipate a user’s every move.

Note_2_Summary_of_Significant_

Note 2 Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2014
Notes
Note 2 Summary of Significant Accounting Policies	Note 2 Summary of Significant Accounting Policies
	Basis of Presentation
	The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America.  The Company has chosen December 31 as a year end.
	Principles of Consolidation
	The accompanying consolidated financial statements include the accounts of Bionik Laboratories Corp. (formerly Drywave Technologies, Inc.) and its wholly owned subsidiary, Strategic Dental Alliance, Inc. for all periods presented.  All intercompany accounts and transactions have been eliminated in consolidation.
	Development Stage Entity
	The Company is in the development stage as defined under the then current Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 915-205 “Development-Stage Entities,” and among the additional disclosures required as a development stage company are that our financial statements were identified as those of a development stage company, and that the statements of operations, stockholders’ deficit and cash flows disclosed activity since the date of our inception (January 8, 2010) as a development stage company. Effective June 10, 2014 FASB changed its regulations with respect to Development Stage Entities and these additional disclosures are no longer required for annual reporting periods beginning after December 15, 2014 with the option for entities to early adopt these new provisions. The Company has elected to early adopt these provisions and consequently these additional disclosures are not included in these financial statements.
	Use of Estimates
	The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts in the financial statements and the accompanying notes. Such estimates and assumptions impact, among others, the following: assessment of the recoverability of long-lived assets and the valuation allowance for deferred tax assets due to continuing and expected future losses.
	Cash and cash equivalents
	All cash and short-term investments with original maturities of three months or less are considered cash and cash equivalents, since they are readily convertible to cash. These short-term investments are stated at cost, which approximates fair value.
	Property and equipment
	The Company has no property or equipment at this time.
	Due to Related Party
	Due to related party represents an obligation to pay for goods or services that were used in the ordinary course of business and paid for by a related party on the company’s behalf.  Due to related party is classified as a current liability as payment is due within one year or less.
	Financial Instruments
	The carrying value of the Company’s financial instruments comprising cash, accounts payable and accrued expenses and balance due to related party, as reported in the accompanying balance sheet, approximates fair value due to their short term maturity.
	Revenue Recognition
	The Company recognizes revenue when it is realized or realizable and earned.  We consider revenue realized or realizable and earned when all of the following criteria are met: (i) persuasive evidence of an arrangement exists, (ii) the product has been shipped or the services have been rendered to the customer, (iii) the sales price is fixed or determinable, and (iv) collection is reasonably assured.
	Advertising expenses
	Advertising costs are expensed when incurred.  No advertising was conducted during the years ended December 31, 2014 and 2013.
	Income taxes
	Income taxes are accounted for in accordance with ASC 740, using the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.  The Company is currently filing its income tax returns on the cash basis.  The change in controlling stockholders did not result in a tax event.  The Company has not recognized an adjustment for uncertain income tax positions as there are no positions that the Company feels are more-likely-than-not to be sustained.  The Company recognizes interest and penalties, if any, as a component of income tax expense.  No interest or penalties have been recorded as of December 31, 2014 and 2013.  The Company is still subject to income tax examinations for all federal and Colorado taxes since inception.
	Stock based compensation
	The Company accounts for employee and non-employee stock awards under ASC 718, whereby equity instruments issued to employees for services are recorded based on the fair value of the instrument issued and those issued to non-employees are recorded based on the fair value of the consideration received or the fair value of the equity instrument, whichever is more reliably measurable. The Company issued no stock based compensation to employees or no-employees during the years ended December 31, 2014 or 2013.
	Earnings (loss) per share
	The net income (loss) per share is computed by dividing the net income (loss) by the weighted average number of shares of common outstanding. Warrants, stock options, and common stock issuable upon the conversion of the Company's preferred stock (if any), are not included in the computation if the effect would be anti-dilutive and would increase the earnings or decrease loss per share.  No potentially dilutive debt or equity instruments were issued or outstanding during the years ended December 31, 2014 or 2013.
	On July 16, 2013, the Company executed a 22.75 for 1 forward stock split.  As a result of the split, each outstanding share of the Company before the split represents 22.75 shares of common stock after the split.   All share and per share amounts have been retroactively restated in these financial statements to reflect the forward split.
	On February 13, 2015, the Company executed a 1 for 0.831105 reverse stock split.  As a result of the split, each outstanding share of the Company before the split represents 0.831105 shares of common stock after the split.   All share and per share amounts have been retroactively restated in these financial statements to reflect the reverse split.
	Reclassification
	Certain amounts reported in prior years in the financial statements have been reclassified to conform to the current year’s presentation.
	Recent Accounting Pronouncements
	The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and does not believe the future adoption of any such pronouncements may be expected to cause a material impact on our financial condition or the results of its operations other than in respect of the early adoption of the new regulations relating to Development Stage Entities as discussed above.

Note_3_Going_Concern

Note 3 Going Concern	12 Months Ended
	Dec. 31, 2014
Notes
Note 3 Going Concern	Note 3 Going Concern
	As reflected in the accompanying financial statements, the Company has a net loss of $(29,528) and net cash used in operations of $(13,204) for the year ended December 31, 2014, and an accumulated deficit of $(64,551) at December 31, 2014.  In addition, the Company has not yet generated significant revenues. These factors raise substantial doubt about the Company’s ability to continue as a going concern.
	The Company expects that its current cash resources as well as expected lack of operating cash flows will not be sufficient to sustain operations for a period greater than one year.  The ability of the Company to continue its operations is dependent on Management's plans, which include continuing to raise equity based financing.
	The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business.  These financial statements do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be necessary should the Company be unable to continue as a going concern.
	As described in Note 8 Subsequent Events, subsequent to December 31, 2014, through April 13, 2015, the Company received gross proceeds of $7,871,600 through the sale of shares of its common stock and warrants. The Company believes that these proceeds should be sufficient to fund its proposed operations and business plan for the next twelve months.

Note_4_Related_Party_Transacti

Note 4 Related Party Transactions	12 Months Ended
	Dec. 31, 2014
Notes
Note 4 Related Party Transactions	Note 4 Related Party Transactions
	Related party revenue
	All Company revenues for the years ended December 31, 2014 and 2013 of $6,000 and $5,200 respectively were earned by providing payroll, accounting and human resource consulting, to an LLC related by common control of a Company director.
	Related party expenses
	Related party consulting expense
	The Company paid consulting fees to a director of $7,000 and $0 for the years ended December 31, 2014 and 2013, respectively for the consulting services provided.
	In support of the Company’s efforts and cash requirements, it may rely on advances from related parties until such time that the Company can support its operations or complete a business acquisition or merger.  There is no formal written commitment for continued support by related party affiliates.  Amounts represent advances or amounts paid in satisfaction of liabilities. The advances are considered temporary in nature and have not been formalized by a promissory note.  As of December 31, 2014 and 2013, the Company had a due from related party balance outstanding with an affiliate of the Company in the amount of $26,106 and $14,082, respectively. The due from related party balance is non-interest bearing, due upon demand and unsecured.
	As further discussed in Note 8 - Subsequent Events below, effective February 26, 2015 this liability was spun off to a related party and was no longer a liability of the Company.

Note_5_Stockholders_Deficit

Note 5 Stockholders' Deficit	12 Months Ended
	Dec. 31, 2014
Notes
Note 5 Stockholders' Deficit	Note 5 Stockholders’ Deficit
	Preferred Stock - The Company as of December 31, 2014 and 2013 had 10,000,000 shares of authorized preferred stock, $0.001 par value, with none issued and outstanding, with rights, preferences and designations to be determined by the Board of Directors.
	Common Stock - The Company as of December 31, 2014 and 2013 had 200,000,000 shares of authorized common stock, $0.001 par value, with 96,589,680 shares issued and outstanding.
	Effective February 13, 2015, the Company amended its Certificate of Incorporation to decrease the number of authorized shares of common stock to 150,000,000 shares and the reduced number of authorized shares of common stock has been retrospectively recognized in these financial statements
	On July 16, 2013, the Company executed a 22.75 for 1 forward stock split.  As a result of the split, each outstanding share of the Company before the split represents 22.75 shares of common stock after the split.   All share and per share amounts have been retroactively restated in these financial statements to reflect the forward split.
	On February 13, 2015, the Company executed a 1 for 0.831105 reverse stock split.  As a result of the split, each outstanding share of the Company before the split represents 0.831105 shares of common stock after the split.   All share and per share amounts have been retroactively restated in these financial statements to reflect the reverse split.
	No shares of common stock were issued during the years ended December 31, 2014 or 2013.

Note_6_Income_Taxes

Note 6 Income Taxes	12 Months Ended
	Dec. 31, 2014
Notes
Note 6 Income Taxes	Note 6 Income Taxes
	Deferred income taxes arise from the temporary differences between financial statement and income tax recognition of net operating losses.  These loss carryovers are limited under the Internal Revenue Code should a significant change in ownership occur.  At December 31, 2014 and 2013 the Company had net operating loss carryforwards of approximately $65,000 and $35,000 which will begin to expire in 2030.  The deferred tax asset created by the net operating losses available for carry forward, calculated at an effective tax rate of 20% approximates $13,000 and $7,000 as of December 31, 2014 and 2013, respectively and has been fully offset by a 100% valuation allowance.  The change in the valuation allowance for the years ended December 31, 2014 and 2013 was approximately $6,000 and $2,600, respectively.

Note_7_Commitments_and_Conting

Note 7 Commitments and Contingencies	12 Months Ended
	Dec. 31, 2014
Notes
Note 7 Commitments and Contingencies	Note 7 Commitments and Contingencies
	Contractual – The Company did not enter into any long term contractual commitments during the years ended December 31, 2014 and 2013
	Legal Matters - From time to time, the Company may be involved in litigation relating to claims arising out of operations in the normal course of business. As of December 31, 2014, there were no pending or threatened lawsuits that could reasonably be expected to have a material effect on the results of our operations. There are no proceedings in which any of our directors, officers or affiliates, or any registered or beneficial shareholders, is an adverse party or has a material interest adverse to our interest.

Note_8_Subsequent_Events

Note 8 Subsequent Events	12 Months Ended
	Dec. 31, 2014
Notes
Note 8 Subsequent Events	Note 8 Subsequent Events
	In accordance with ASC855-10. Subsequent Events the Company has analyzed its operations subsequent to December 31, 2014 to the date of these financial statements and has determined that it does not have any material subsequent events to disclose in these financial statements other than those disclosed in the notes above and as discussed below.
	On February 20, 2015, we filed with the Secretary of State of Delaware a Certificate of Amendment to our Articles of Incorporation (the “Certificate of Amendment”) whereby, among other things, we changed our name to Bionik Laboratories Corp. and reduced the authorized number of shares of Common Stock from 200,000,000 to 150,000,000. Additionally, on September 24, 2014, our stockholders had approved a 1-for-0.831105 reverse stock split of the issued and outstanding shares of our Common Stock, and adopted an equity incentive plan. The reverse stock split was implemented on February 13, 2015.
	On February 26, 2015, we entered into an Investment Agreement with Acquireco, our wholly owned subsidiary, and Bionik Canada (the “Investment Agreement”) whereby we acquired 100 Class 1 common shares of Bionik Canada representing 100% of the outstanding Class 1 common shares of Bionik Canada, taking into account the Exchangeable Share Transaction (as defined below) (the “Acquisition Transaction”). After giving effect to the Acquisition Transaction, we commenced operations through Bionik Canada.
	Immediately prior to the closing of the Acquisition Transaction and the First Closing (as defined below), we transferred all of the business, properties, assets, operations and goodwill of the Company (other than cash and cash equivalents), and liabilities as of March 6, 2013, to our then-existing wholly owned subsidiary, Strategic Dental Alliance, Inc., a Colorado corporation (“Strategic Dental Alliance”), and then transferred all of the capital stock of Strategic Dental Alliance to Brian E. Ray, a former officer and existing director (through the March 20, 2015) and Jon Lundgreen, a former officer and director, pursuant to a Spin-Off Agreement (the “Spin-Off Agreement”). Also as of immediately prior to the closing of the Acquisition Transaction and the First Closing, we entered into an Assignment and Assumption Agreement with Tungsten 74 LLC, pursuant to which Tungsten 74 LLC assumed all of our remaining liabilities through the closing of the Acquisition Transaction (the “Assignment and Assumption Agreement”). Accordingly, as of the closing of the Acquisition Transaction and the First Closing, we had no assets or liabilities.
	As a condition of the closing of the Acquisition Transaction, Bionik Canada created a new class of exchangeable shares (the “Exchangeable Shares”), which were issued to the existing common shareholders of Bionik Canada in exchange for all of their outstanding common shares, all of which were cancelled (the “Exchangeable Share Transaction”).
	Pursuant to the rights and privileges of the Exchangeable Shares, the holders of such Exchangeable Shares maintain the right to (i) received dividends equal to, and paid concurrently with, dividends paid by the Company to the holders of Common Stock; (ii) vote, through the Trustee’s voting of the Special Voting Preferred Stock (as defined herein) on all matters that the holders of Common Stock are entitled to vote upon; and (iii) receive shares of  Common Stock upon the liquidation or insolvency of the Company upon the redemption of such Exchangeable Shares by Acquireco.
	As part of the Exchangeable Share Transaction, we entered into the following agreements, each dated February 26, 2015:
	Voting and Exchange Trust Agreement (the “Trust Agreement”) with Bionik Canada and Computershare Trust Company of Canada (the “Trustee”); and
	Support Agreement (the “Support Agreement”) with Acquireco and Bionik Canada.
	Pursuant to the terms of the Trust Agreement, the parties created a trust for the benefit of its beneficiaries, which are the holders of the Exchangeable Shares, enabling the Trustee to exercise the voting rights of such holders until such time as they choose to redeem their Exchangeable Shares for shares of the common stock of the Company, and allowing the Trustee to hold certain exchange rights in respect of the Exchangeable Shares.
	As a condition of the Trust Agreement and prior to the execution thereof, we filed a Certificate of Designation with the Delaware Secretary of State, effective February 20, 2015, designating a class of our preferred shares as The Special Voting Preferred Stock (the “Special Voting Preferred Stock”) and issued one share of The Special Voting Preferred Stock to the Trustee.
	The Special Voting Preferred Stock entitles the Trustee to exercise the number of votes equal to the number of Exchangeable Shares outstanding on a one-for-one basis during the term of the Trust Agreement. The Trust Agreement further sets out the terms and conditions under which holders of the Exchangeable Shares are entitled to instruct the Trustee as to how to vote during any stockholder meetings of our company.
	Pursuant to the terms of the Trust Agreement, we granted the Trustee the right to require our Company to purchase the Exchangeable Shares from any beneficiary upon the occurrence of certain events including in the event that we are bankrupt, insolvent or our business is wound up. The Trust Agreement continues to remain in force until the earliest of the following events: (i) no outstanding Exchangeable Shares are held by any beneficiary under the Trust Agreement; and (ii) each of Bionik Canada and us elects to terminate the Trust Agreement in writing and the termination is approved by the beneficiaries.
	Pursuant to the terms of the terms of the Support Agreement, we agreed to certain covenants while the Exchangeable Shares were outstanding, including: (i) not to declare or pay any dividends on our common stock unless simultaneously declaring the equivalent dividend for the holders of the Exchangeable Shares, (ii) advising Bionik Canada in advance of any dividend declaration by our company, (iii) ensure that the record date for any dividend or other distribution declared on the shares of the Company is not less than seven days after the declaration date of  such dividend or other distribution; (iv) taking all actions reasonably necessary to enable Bionik Canada to pay and otherwise perform its obligations with respect to the issued and outstanding Exchangeable Shares, (iv) to ensure that shares of the Company are delivered to holders of Exchangeable Shares upon exercise of certain redemption rights
	set out in the agreement and in the rights and restrictions of the Exchangeable Shares, and (v) reserving for issuance and keeping available from our authorized common stock such number of shares as may be equal to: (A) the number of Exchangeable Shares issued and outstanding from time to time; and (B) the number of Exchangeable Shares issuable upon the exercise of all rights to acquire Exchangeable Shares from time to time.
	The Support Agreement also outlines certain restrictions on our ability to issue any dividends, rights, options or warrants to all or substantially all of our stockholders during the term of the agreement unless the economic equivalent is provided to the holders of Exchangeable Shares. The Support Agreement is governed by the laws of the Province of Ontario.
	Concurrently with the closing of the Acquisition Transaction and in contemplation of the Acquisition Transaction, we sold 7,735,750 units (the “Units”) for gross proceeds of $6,188,600 (including $500,000 of outstanding bridge loans converted into Units at the offering price) at a purchase price of $0.80 per Unit (the “Purchase Price”) in a private placement offering (the “Offering”). Each Unit consists of one share of common stock, par value $0.001 per share (the “Common Stock”) and a warrant (the “Warrant”) to purchase one share of Common Stock at an initial exercise price of $1.40 per share (the “Warrant Shares”). The Common Stock and Warrants were sold to each subscriber of the Offering pursuant to a Subscription Agreement (“Subscription Agreement”).
	The Offering was being offered with a minimum offering amount of $6,000,000 (the “Minimum Offering Amount”) and up to a maximum offering amount of $12,800,000 (subject to an overallotment option). Once the Minimum Offering amount was reached and held in escrow and other conditions to closing were satisfied (including the simultaneous closing of the Acquisition Transaction), the Company and the placement agent were able to conduct a first closing (the “First Closing”). Pursuant to the terms of a Registration Rights Agreement, we have agreed to file a registration statement on Form S-1 (or any other applicable form exclusively for the Offering) (the “Registration Statement”) registering for resale under the Securities Act all of the shares of Common Stock sold in the Offering and Warrant Shares underlying the Warrants within ninety days after the First Closing and we have agreed to use our commercially reasonable best efforts to cause such registration statement to become effective within one hundred eighty days of the First Closing. As a result of the Offering, after payment of placement agent fees and expenses but before the payment of other offering expenses such as legal and accounting expenses, we received net proceeds of approximately $5,383,734 at the First Closing, including the $500,000 in bridge loans we previously received that were taken into account as part of the Minimum Offering Amount.
	As of the Acquisition Transaction and the First Closing, an aggregate of 90,575,126 shares of our Common Stock were deemed cancelled, of which 90,207,241 were held by our former Chief Executive Officer and current Senior Vice President.
	Immediately following the Acquisition Transaction, the Exchangeable Share Transaction and the First Closing, there were 63,735,750 shares of our common stock issued and outstanding of which 6,000,000 were held by existing stockholders, 7,735,750 were held by the investors in the Offering and Bionik Canada shareholders held an equivalent of 50,000,000 shares of our common stock through their ownership of 100% of the Exchangeable Shares. Furthermore, up to 1,905,700 shares of our Common Stock were, as of such date, subject to forfeiture in the event we were unable to raise additional gross proceeds of $3,811,400 in the Offering.
	On March 27, 2015, we sold to accredited investors in a second closing, 1,212,500 Units for gross proceeds of $970,000 at the Purchase Price. The Common Stock and Warrants were sold to each subscriber of the Offering pursuant to a Subscription Agreement. After payment of placement agent fees and expenses but before the payment of other Offering expenses such as legal and accounting expenses, we received net proceeds of $828,900.
	On March 31, 2015, we sold to accredited investors in a third closing of the Offering, 891,250 Units for gross proceeds of $713,000 at the Purchase Price. The Common Stock and Warrants were sold to each subscriber of the Offering pursuant to a Subscription Agreement. After payment of placement agent fees and expenses but before the payment of other offering expenses such as legal and accounting expenses, the Registrant received net proceeds of $620,310.
	Through April 13, 2015, we have raised in the Offering aggregate gross proceeds of $7,871,600.  As a result, our pre-Acquisition Transaction stockholders hold approximately 9% of our issued and outstanding shares of Common Stock, the former stockholders of Bionik Canada hold approximately 76% of our issued and outstanding shares of Common Stock through their ownership of 100% of the Exchangeable Shares, and the investors in the Offering hold approximately 15% of our issued and outstanding shares of Common Stock.

Note_2_Summary_of_Significant_1

Note 2 Summary of Significant Accounting Policies: Basis of Presentation (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Basis of Presentation	Basis of Presentation
	The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America.  The Company has chosen December 31 as a year end.

Note_2_Summary_of_Significant_2

Note 2 Summary of Significant Accounting Policies: Principles of Consolidation (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Principles of Consolidation	Principles of Consolidation
	The accompanying consolidated financial statements include the accounts of Bionik Laboratories Corp. (formerly Drywave Technologies, Inc.) and its wholly owned subsidiary, Strategic Dental Alliance, Inc. for all periods presented.  All intercompany accounts and transactions have been eliminated in consolidation.

Note_2_Summary_of_Significant_3

Note 2 Summary of Significant Accounting Policies: Development Stage Entity (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Development Stage Entity	Development Stage Entity
	The Company is in the development stage as defined under the then current Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 915-205 “Development-Stage Entities,” and among the additional disclosures required as a development stage company are that our financial statements were identified as those of a development stage company, and that the statements of operations, stockholders’ deficit and cash flows disclosed activity since the date of our inception (January 8, 2010) as a development stage company. Effective June 10, 2014 FASB changed its regulations with respect to Development Stage Entities and these additional disclosures are no longer required for annual reporting periods beginning after December 15, 2014 with the option for entities to early adopt these new provisions. The Company has elected to early adopt these provisions and consequently these additional disclosures are not included in these financial statements.

Note_2_Summary_of_Significant_4

Note 2 Summary of Significant Accounting Policies: Use of Estimates (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Use of Estimates	Use of Estimates
	The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts in the financial statements and the accompanying notes. Such estimates and assumptions impact, among others, the following: assessment of the recoverability of long-lived assets and the valuation allowance for deferred tax assets due to continuing and expected future losses.

Note_2_Summary_of_Significant_5

Note 2 Summary of Significant Accounting Policies: Cash and Cash Equivalents (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Cash and Cash Equivalents	Cash and cash equivalents
	All cash and short-term investments with original maturities of three months or less are considered cash and cash equivalents, since they are readily convertible to cash. These short-term investments are stated at cost, which approximates fair value.

Note_2_Summary_of_Significant_6

Note 2 Summary of Significant Accounting Policies: Property and Equipment (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Property and Equipment	Property and equipment
	The Company has no property or equipment at this time.

Note_2_Summary_of_Significant_7

Note 2 Summary of Significant Accounting Policies: Due To Related Party (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Due To Related Party	Due to Related Party
	Due to related party represents an obligation to pay for goods or services that were used in the ordinary course of business and paid for by a related party on the company’s behalf.  Due to related party is classified as a current liability as payment is due within one year or less.

Note_2_Summary_of_Significant_8

Note 2 Summary of Significant Accounting Policies: Financial Instruments (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Financial Instruments	Financial Instruments
	The carrying value of the Company’s financial instruments comprising cash, accounts payable and accrued expenses and balance due to related party, as reported in the accompanying balance sheet, approximates fair value due to their short term maturity.

Note_2_Summary_of_Significant_9

Note 2 Summary of Significant Accounting Policies: Revenue Recognition (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Revenue Recognition	Revenue Recognition
	The Company recognizes revenue when it is realized or realizable and earned.  We consider revenue realized or realizable and earned when all of the following criteria are met: (i) persuasive evidence of an arrangement exists, (ii) the product has been shipped or the services have been rendered to the customer, (iii) the sales price is fixed or determinable, and (iv) collection is reasonably assured.

Recovered_Sheet1

Note 2 Summary of Significant Accounting Policies: Advertising Expenses (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Advertising Expenses	Advertising expenses
	Advertising costs are expensed when incurred.  No advertising was conducted during the years ended December 31, 2014 and 2013.

Recovered_Sheet2

Note 2 Summary of Significant Accounting Policies: Income Taxes (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Income Taxes	Income taxes
	Income taxes are accounted for in accordance with ASC 740, using the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.  The Company is currently filing its income tax returns on the cash basis.  The change in controlling stockholders did not result in a tax event.  The Company has not recognized an adjustment for uncertain income tax positions as there are no positions that the Company feels are more-likely-than-not to be sustained.  The Company recognizes interest and penalties, if any, as a component of income tax expense.  No interest or penalties have been recorded as of December 31, 2014 and 2013.  The Company is still subject to income tax examinations for all federal and Colorado taxes since inception.

Recovered_Sheet3

Note 2 Summary of Significant Accounting Policies: Stock Based Compensation (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Stock Based Compensation	Stock based compensation
	The Company accounts for employee and non-employee stock awards under ASC 718, whereby equity instruments issued to employees for services are recorded based on the fair value of the instrument issued and those issued to non-employees are recorded based on the fair value of the consideration received or the fair value of the equity instrument, whichever is more reliably measurable. The Company issued no stock based compensation to employees or no-employees during the years ended December 31, 2014 or 2013.

Recovered_Sheet4

Note 2 Summary of Significant Accounting Policies: Earnings (loss) Per Share (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Earnings (loss) Per Share	Earnings (loss) per share
	The net income (loss) per share is computed by dividing the net income (loss) by the weighted average number of shares of common outstanding. Warrants, stock options, and common stock issuable upon the conversion of the Company's preferred stock (if any), are not included in the computation if the effect would be anti-dilutive and would increase the earnings or decrease loss per share.  No potentially dilutive debt or equity instruments were issued or outstanding during the years ended December 31, 2014 or 2013.
	On July 16, 2013, the Company executed a 22.75 for 1 forward stock split.  As a result of the split, each outstanding share of the Company before the split represents 22.75 shares of common stock after the split.   All share and per share amounts have been retroactively restated in these financial statements to reflect the forward split.
	On February 13, 2015, the Company executed a 1 for 0.831105 reverse stock split.  As a result of the split, each outstanding share of the Company before the split represents 0.831105 shares of common stock after the split.   All share and per share amounts have been retroactively restated in these financial statements to reflect the reverse split.

Recovered_Sheet5

Note 2 Summary of Significant Accounting Policies: Reclassification (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Reclassification	Reclassification
	Certain amounts reported in prior years in the financial statements have been reclassified to conform to the current year’s presentation.

Recovered_Sheet6

Note 2 Summary of Significant Accounting Policies: Recent Accounting Pronouncements (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Recent Accounting Pronouncements	Recent Accounting Pronouncements
	The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and does not believe the future adoption of any such pronouncements may be expected to cause a material impact on our financial condition or the results of its operations other than in respect of the early adoption of the new regulations relating to Development Stage Entities as discussed above.

Note_3_Going_Concern_Details

Note 3 Going Concern (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Apr. 13, 2015
Details
Net income (loss)	($29,528)	($13,109)
Net Cash Provided by (Used in) Continuing Operations	-13,204
Retained Earnings (Accumulated Deficit)	-64,551
Aggregate gross proceeds from sale of share units during offering			$7,871,600

Note_4_Related_Party_Transacti1

Note 4 Related Party Transactions (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Details
Revenue - related party	$6,000	$5,200
Related party consulting expense	7,000	0
Due from related party balance outstanding	$26,106	$14,082

Note_6_Income_Taxes_Details

Note 6 Income Taxes (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Details
Unrecognized Tax Benefits Resulting in Net Operating Loss Carryforward	$65,000	$35,000
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	13,000	7,000
Valuation Allowances and Reserves, Period Increase (Decrease)	$6,000	$2,600

Note_8_Subsequent_Events_Detai

Note 8 Subsequent Events (Details) (USD $)	Apr. 13, 2015	Mar. 31, 2015	Mar. 27, 2015	Feb. 26, 2015
Details
Share units sold for financing				7,735,750
Proceeds from sale of share units				$6,188,600
Price per share unit				$0.80
Net proceeds from first closing				5,383,734
Shares cancelled				90,575,126
Share units sold in second closing			1,212,500
Proceeds from share units sold in second closing			970,000
Net proceeds from sale of share units in second closing			828,900
Share units sold in third closing		891,250
Gross proceeds from sale of share units in third closing		713,000
Net proceeds from sale of share units in third closing		620,310
Aggregate gross proceeds from sale of share units during offering	$7,871,600