Bionik Laboratories (BNKL) 10-Q 12 Aug 21 2022 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Jun. 30, 2021	Aug. 10, 2021
Document And Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Amendment Flag	false
Document Period End Date	Jun. 30, 2021
Entity File Number	000-54717
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	27-1340346
Entity Address, Address Line One	483 Bay Street N105
Entity Address, City or Town	Toronto
Entity Address, State or Province	ON
Entity Address, Postal Zip Code	M5G 2C9
City Area Code	416
Local Phone Number	640-7887 x508
Title of 12(b) Security	N/A
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Entity Registrant Name	Bionik Laboratories Corp.
Entity Central Index Key	0001508381
Current Fiscal Year End Date	--03-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Trading Symbol	BNKL
Entity Common Stock, Shares Outstanding		5,770,920
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Small Business	true

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2021	Mar. 31, 2021
Current assets
Cash and cash equivalents	$ 541,587	$ 608,348
Accounts receivable	446,105	451,905
Prepaid expenses and other receivables	1,779,934	1,680,557
Inventories	601,312	692,163
Total current assets	3,368,938	3,432,973
Equipment	67,845	93,577
Intangible assets, net	956,919	976,551
Goodwill	4,282,984	4,282,984
Total assets	8,676,686	8,786,085
Current liabilities
Accounts payable	520,776	454,809
Accrued liabilities	778,401	760,026
PPP Loan	0	459,912
Loan outstanding	2,212,334	2,152,334
Deferred revenue, current portion	232,250	268,083
Total current liabilities	3,743,761	4,095,164
Deferred revenue, net of current portion	318,604	303,917
Demand loans, net of current portion	1,697,457	1,105,974
Total Liabilities	5,759,822	5,505,055
Commitments and contingencies (Note 9)
Stockholders' Equity
Preferred stock, $0.001 par value; Authorized 5,000,000; Issued-1 Special voting preferred stock, $0.001 par value; Authorized; Issued - 1
Common stock, $0.001 par value; Authorized - 13,000,000; Issued 5,589,375 and 112,440 Exchangeable Shares at June 30, 2021 and March 31, 2021	5,702	5,702
Additional paid-in capital	88,322,050	88,227,506
Accumulated deficit	(85,445,239)	(84,994,327)
Accumulated other comprehensive income	34,351	42,149
Total stockholders' equity	2,916,864	3,281,030
Total liabilities and stockholders' equity	$ 8,676,686	$ 8,786,085

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2021	Mar. 31, 2021
Preferred Stock, Par Value (in dollars per share)	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	5,000,000	5,000,000
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	13,000,000	13,000,000
Common Stock, Shares, Issued	5,589,375	112,440
Special Voting [Member]
Preferred Stock, Par Value (in dollars per share)	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	1	1
Preferred Stock, Shares Issued	1	1

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Condensed Consolidated Statements of Operations
Revenues, net	$ 671,283	$ 257,908
Cost of revenues	130,506	62,555
Gross Profit	540,777	195,353
Operating expenses
Sales and marketing	329,474	238,895
Research and development	180,967	384,490
General and administrative	832,221	1,530,504
Total operating expenses	1,342,662	2,153,889
Loss from operations	(801,885)	(1,958,536)
Interest expense, net	102,296	74,975
Other (income), net	(453,269)	(26,435)
Total other (income) expense	(350,973)	48,540
Net loss	$ (450,912)	$ (2,007,076)
Loss per share - basic and diluted	$ (0.08)	$ (0.39)
Weighted average number of shares outstanding - basic and diluted	5,701,815	5,126,834

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss - USD ($)	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Condensed Consolidated Statements of Comprehensive Loss
Net loss	$ (450,912)	$ (2,007,076)
Other comprehensive loss components:
Cumulative translation adjustment	(7,798)	0
Total other comprehensive loss	(7,798)	0
Comprehensive loss	$ (458,710)	$ (2,007,076)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Operating activities:
Net loss	$ (450,912)	$ (2,007,076)
Reconciliation of net loss to net cash from operating activities:
Depreciation and amortization	29,116	41,616
Interest expense	102,296	74,975
Share based compensation expense	94,544	407,315
Extinguishment of debt	(459,912)	0
Changes in non-cash working capital items
Accounts receivable	5,800	(128,308)
Prepaid expenses and other current assets	(99,252)	(90,798)
Net book value of demonstration inventory sold	16,248	0
Due from related parties	0	(817)
Inventories	90,851	114,472
Accounts payable	66,518	(413,219)
Accrued liabilities	7,766	406,425
Deferred revenue	(21,146)	(33,782)
Net cash used in operating activities	(618,083)	(1,629,197)
Investing activities:
Purchases of equipment	0	0
Net cash used in investing activities	0	0
Financing activities:
Proceeds from convertible loans	0	1,302,575
Proceeds from PPP Loan	0	459,912
Proceeds from term loan	550,000	0
Net cash provided by financing activities	550,000	1,762,487
Effect of exchange rate changes on cash and cash equivalents	1,322	0
Net (decrease) increase in cash and cash equivalents	(66,761)	133,290
Cash and cash equivalents, beginning of the period	608,348	2,269,747
Cash and cash equivalents, end of the period	$ 541,587	$ 2,403,037

Interim Condensed Consolidated

Interim Condensed Consolidated Financial Statements	3 Months Ended
	Jun. 30, 2021
Interim Condensed Consolidated Financial Statements
Interim Condensed Consolidated Financial Statements	1. Interim Condensed Consolidated Financial Statements The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim information and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for reporting on Form 10-Q. Accordingly, certain information and footnote disclosures required for complete financial statements are not included herein. It is recommended that these financial statements be read in conjunction with the consolidated financial statements and related notes that appear in the Annual Report on Form 10-K of Bionik Laboratories Corp. (“Bionik” or the “Company”) for the fiscal year ended March 31, 2021 filed with the SEC on June 24, 2021. In the opinion of the Company, the accompanying unaudited condensed consolidated financial statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of its financial position as of June 30, 2021, and its results of operations for the three months ended June 30, 2021 and 2020, and cash flows for the three months ended June 30, 2021 and 2020. The condensed consolidated balance sheet at March 31, 2021 was derived from audited annual financial statements, but does not contain all of the footnote disclosures from the annual financial statements. Results of operations for the three months ended June 30, 2021 are not necessarily indicative of the results for the year ending March 31, 2022 or any period thereafter. Reclassifications For comparability purposes, certain prior period amounts in the condensed consolidated financial statements have been reclassified to conform to the current period’s presentation within the condensed consolidated statements of operations and comprehensive loss. Management Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and related disclosures at the date of the financial statements during the reporting period. Significant estimates are used for, but are not limited to, revenue recognition, allowance for doubtful accounts, inventory reserves, impairment analysis of goodwill and intangibles including their useful lives, research and development accruals, deferred tax assets, liabilities and valuation allowances, and fair value of stock options. The Company assessed certain accounting matters that generally require consideration of forecasted financial information in context with the information reasonably available to the Company and the unknown future impacts of COVID-19 as of June 30, 2021 and through the date of this report filing. On an ongoing basis, management evaluates its estimates and actual results could differ from those estimates. All adjustments, consisting only of normal recurring items, considered necessary for fair presentation have been included in these consolidated financial statements. Critical Accounting Policies The following accounting policies have been updated and adopted as of April 1, 2021 which differ from the accounting policies disclosed in Form 10-K for the year ended March 31, 2021, filed with the SEC on June 24, 2021: Property and Equipment Property and equipment are recorded at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets as compared to the double-declining the method the Company had previously used. Assets under capital leases and leasehold improvements are amortized using the straight-line method over the shorter of the estimated useful life of the asset or the respective lease term. Included in property and equipment are certain robots that are used for demonstration purposes. Maintenance and repairs are charged to expense as incurred. Bionik continually evaluates whether events or circumstances have occurred that indicate that the estimated remaining useful life of its long-lived assets may warrant revision or that the carrying value of these assets may be impaired. Bionik evaluates the realizability of its long-lived assets based on profitability and cash flow expectations for the related asset. Any write-downs are treated as permanent reductions in the carrying amount of the assets. Based on this evaluation, Bionik believes that, as of each of the balance sheet dates presented, none of Bionik’s long-lived assets were impaired. The useful lives for property and equipment is as follows: ​ ​ ​ ​ ​ Useful Life (in years) Computers and electronics 3 Furniture and fixtures 5 Demonstration equipment 3 Manufacturing equipment 5 Tools and parts 3 Assets under capital lease Life of lease ​ Foreign Currency Translation A portion of Bionik’s operations is conducted through operations in countries other than the United States. Since the Company conduct its business in U.S. dollars, the main exposure, if any, results from changes in the exchange rate between the Canadian dollar and the U.S. dollar. Bionik’s functional currency is the U.S. dollar. The Company’s policy is to reduce exposure to exchange rate fluctuations by having most of Bionik’s assets and liabilities, as well as most of Bionik’s revenues and expenditures, in U.S. dollars, or U.S. dollar linked. The Company has not historically engaged in hedging activities relating to its non-U.S. dollar operations. The Company may incur negative foreign currency conversion charges as a result of changes in currency exchange rates. The remainder of Bionik’s critical accounting policies and the related judgments and estimates affecting the preparation of its condensed consolidated financial statements are included in our Annual Report on Form 10-K for the year ended March 31, 2021. There have been no other material changes to the Company’s critical accounting policies as of June 30, 2021. Going Concern At June 30, 2021, cash and cash equivalents were $0.5 million. At June 30, 2021, the Company had a working capital deficit of $0.4 million and at March 31, 2021, the Company had a working capital deficit of $0.7 million. At June 30, 2021 and March 31, 2021, the Company has accumulated deficits of $85.4 million and $85.0 million, respectively. The Company has incurred a net loss and comprehensive loss for the three months ended June 30, 2021 and 2020 of $0.5 million and $2.0 million, respectively. On July 15, 2021, the Company commenced a refinancing of its existing indebtedness and launched a new secured convertible promissory note offering of up to $10.0 million. Pursuant to the terms of the offering, the Company is offering for sale up to $10.0 million in convertible notes to accredited investors and non-U.S. persons. As a result, the Company issued an aggregate of $8.3 million in principal of convertible notes of which an aggregate of $5.0 million was purchased for cash and the remainder was issued as a result of consolidating existing debt. The Company’s future funding requirements depend on a number of factors, including the rate of market acceptance of its current and future products and the resources the Company devotes to developing and supporting the same. There is no certainty that the Company will be successful in generating sufficient cash flow from operations or achieving and maintaining profitable operations in the future to enable it to meet its obligations as they come due and consequently continue as a going concern. The Company will require additional financing to fund its operations and it is currently working on securing additional funding through corporate collaborations, public or private equity offerings or debt financings. Sales of additional equity securities by the Company would result in the dilution of the interests of existing stockholders. There can be no assurance that financing will be available when required. In the event that the necessary additional financing is not obtained, the Company would reduce its discretionary overhead costs substantially or otherwise curtail operations. The Company expects to raise additional funds to meet the Company’s anticipated cash requirements for the next 12 months; however, these conditions raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying condensed consolidated financial statements do not include any adjustments to reflect the possible future effects on recoverability and classification of assets or the amounts and classification of liabilities that may result from the outcome of this uncertainty. ​ Refer to Note 11--Subsequent Events for more information.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets
Goodwill and Intangible Assets	2. Goodwill and Intangible Assets Goodwill represents the excess of the purchase price over the fair value of assets acquired and liabilities assumed in a business combination. The Company does not amortize its goodwill, but instead tests for impairment annually in the fourth quarter and more frequently whenever events or changes in circumstances indicate that fair value of the asset may be less than the carrying value of the asset. Changes to goodwill during the three months ended June 30, 2021 were as follows: ​ ​ ​ ​ ​ ​ Total Balance—March 31, 2021 ​ $ 4,282,984 Adjustments to goodwill ​ ​ — Balance— June 30, 2021 ​ $ 4,282,984 ​ Intangible assets consist of the following at June 30, 2021 and March 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Patents & ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Exclusive ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ License ​ ​ ​ ​ Customer ​ Non-Compete ​ Assembled ​ ​ ​ Agreement Trademark Relationships Agreement Workforce ​ Total Useful Life 9.74 years Indefinite 10 years 2 years 1 year ​ Gross carrying amount ​ $ 1,306,031 ​ $ 2,505,907 ​ $ 1,431,680 ​ $ 61,366 ​ $ 275,720 ​ $ 5,580,704 Impairment ​ (316,388) ​ (1,905,907) ​ (857,298) ​ — ​ — ​ (3,079,593) Accumulated amortization ​ (632,724) ​ — ​ (574,382) ​ (61,366) ​ (275,720) ​ (1,544,192) Balance—June 30, 2021 ​ $ 356,919 ​ $ 600,000 ​ $ — ​ $ — ​ $ — ​ $ 956,919 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Patents & ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Exclusive ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ License ​ ​ ​ ​ Customer ​ Non-Compete ​ Assembled ​ ​ ​ ​ Agreement ​ Trademark ​ Relationships ​ Agreement ​ Workforce ​ Total Useful Life 9.74 years Indefinite 10 years 2 years 1 year Gross carrying amount ​ $ 1,306,031 ​ $ 2,505,907 ​ $ 1,431,680 ​ $ 61,366 ​ $ 275,720 ​ $ 5,580,704 Impairment ​ (316,388) ​ (1,905,907) ​ (857,298) ​ — ​ — ​ ​ (3,079,593) Accumulated amortization ​ (613,092) ​ — ​ (574,382) ​ (61,366) ​ (275,720) ​ ​ (1,524,560) Balance—March 31, 2021 ​ $ 376,551 ​ $ 600,000 ​ $ — ​ $ — ​ $ — ​ $ 976,551 ​ Amortization expense for the three months ended June 30, 2021 and 2020 was $20,000 and $24,000, respectively. Amortization expense is classified as a component of general and administrative expenses in the accompanying condensed consolidated statements of operations.

Balance Sheet Accounts

Balance Sheet Accounts	3 Months Ended
	Jun. 30, 2021
Balance Sheet Accounts
Balance Sheet Accounts	3. Balance Sheet Accounts Prepaid Expenses and Other Current Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, March 31, ​ ​ 2021 ​ 2021 Prepaid inventory ​ $ 1,495,968 ​ $ 1,501,542 Prepaid insurance ​ 178,612 ​ 52,573 Other prepaid expenses ​ 105,354 ​ 126,442 ​ ​ $ 1,779,934 ​ $ 1,680,557 ​ Equipment Equipment consisted of the following at June 30, 2021 and March 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2021 ​ March 31, 2021 ​ ​ Accumulated ​ Accumulated ​ Cost Depreciation Net Cost Depreciation Net Computers and electronics ​ $ 303,337 ​ $ 303,337 ​ $ — ​ $ 303,337 ​ $ 303,337 ​ $ — Furniture and fixtures ​ 36,795 ​ 36,795 ​ — ​ 36,795 ​ 36,795 ​ — Demonstration equipment ​ 123,301 ​ 55,456 ​ 67,845 ​ 170,386 ​ 76,809 ​ 93,557 Manufacturing equipment ​ 88,742 ​ 88,742 ​ — ​ 88,742 ​ 88,742 ​ — Tools and parts ​ 11,422 ​ 11,422 ​ — ​ 11,422 ​ 11,422 ​ — Assets under capital lease ​ 68,453 ​ 68,453 ​ — ​ 68,453 ​ 68,453 ​ — ​ ​ $ 632,050 ​ $ 564,205 ​ $ 67,845 ​ $ 679,135 ​ $ 585,558 ​ $ 93,577 ​ Depreciation expense for the three months ended June 30, 2021 and 2020 was $9,000 and $18,000, respectively. Accrued Expenses Accrued expenses consist of the following at June 30, 2021 and March 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, March 31, ​ ​ 2021 ​ 2021 Accrued personnel costs ​ $ 301,591 ​ $ 371,886 Accrued director fees ​ 158,172 ​ 50,672 Accrued commissions ​ 54,117 ​ 51,080 Accrued professional fees ​ 65,000 ​ 127,211 Accrued warranty costs ​ 29,187 ​ 45,936 Accrued other ​ 170,334 ​ 113,241 ​ ​ $ 778,401 ​ $ 760,026 ​ The Company provides a one-year warranty as part of its normal sales offering. When products are sold, the Company provides warranty reserves, which, based on the historical experience of the Company are sufficient to cover warranty claims. Accrued warranty costs are included in accrued liabilities on the condensed consolidated interim balance sheets and amounted to $29,000 at June 30, 2021 and $46,000 at March 31, 2021.

Inventories

Inventories	3 Months Ended
	Jun. 30, 2021
Inventories
Inventories	4. Inventories Bionik states all inventories at the lower of cost or net realizable value, determined on a first-in, first-out method. Inventory includes finished goods at actual costs from its outsourced manufacturing partners as well as work-in-process for goods that are in the manufacturing process. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ March 31, ​ 2021 2021 ​ ​ ​ ​ ​ ​ ​ Finished goods ​ ​ 601,312 ​ ​ 692,163 ​ ​ $ 601,312 ​ $ 692,163 ​

Demand Loans & PPP Loans

Demand Loans & PPP Loans	3 Months Ended
	Jun. 30, 2021
Demand Loans & PPP Loans
Demand Loans & PPP Loans	5. Demand Loans & PPP Loans Convertible Loans Payable During the three months ended June 30, 2020, the Company received $1.3 million, In addition to $0.1 million previously loaned to the Company, pursuant to a $7.0 million convertible note offering (the "2020 Convertible Note Offering"). The convertible notes issued in the 2020 Convertible Note Offering (the "2020 Convertible Notes") bear interest at a fixed rate at 1% per month. The 2020 Convertible Notes were converted into common stock of the Company at March 31, 2021 in accordance with the terms of the 2020 Convertible Note Offering. In the event the Company raises capital through the sale of common stock for cash during the period ending on the three year anniversary of the issuance date of the 2020 Convertible Notes, and the price per share thereof (the “ Offering Price Interest expense associated with the 2020 Convertible Notes for the three months ended June 30, 2020, was $16,000 See Note 11—Subsequent Events for information on the consolidation of this indebtedness into the Company’s new convertible promissory note offering. Shareholder loan On March 23, 2020, the Company received a $2.0 million loan from an existing shareholder. The promissory note evidencing the loan bears interest at a fixed rate of 1% per month and has a maturity date of the earlier of (i) March 31, 2022 and (ii) the date of receipt of a minimum of $5.0 million from a “Subsequent Financing.” The accrued interest shall be payable in cash commencing on March 31, 2021 with the quarterly payments accrued for the first three payment dates (3-month, 6-month and 9-month anniversaries of the issue date), and then quarterly thereafter. The remaining half of the interest accrued will be paid upon the maturity date. The loan is repayable or convertible to common shares at the loan holder’s option on March 31, 2022 at a price per share equal to the price per share of the Company’s then most recent capital raise or debt conversion, or any other valuation as agreed in writing between the loan holder and the Company. On February 24, 2021, and in addition to the shareholder loan above, the Company entered into a term loan and security agreement dated February 12, 2021 where Bionik may borrow up to $3.0 million from lenders from time to time. Pursuant to the terms of the agreement, the loan bears interest at a fixed rate of 1% per month. The principal amount and interest on the loan will be due and payable on the earlier of (i) February 12, 2023 and (ii) the date of receipt by the Company of a minimum of $3.0 million in equity. During the three months ended June 30, 2021, the Company received term loan proceeds totaling $0.6 million. As of June 30, 2021, the Company has received $1.6 million against this term loan. Interest expense associated with these loans for the three months ended June 30, 2021 and 2020 was $0.1 million for each such periods. Interest payable associated with these loans at June 30, 2021 and March 31, 2021 was $0.3 million for each such periods. See Note 11--Subsequent Events, for information on the consolidation of this indebtedness into the Company’s new convertible promissory note offering. Paycheck Protection Program Loan In May 2020, the Company signed a promissory note for $0.5 million pursuant to the federal Paycheck Protection Program under the Coronavirus Aid, Relief and Economic Security Act, which is administered by the U.S. Small Business Administration. The loan is unsecured, bears interest of 1% per annum and a deferment period of 6 months . The loan is to be used primarily for payroll related costs, lease, and utility payments. The Company has applied for forgiveness and as such forgiveness was granted in May 2021. The extinguishment of the PPP loan is recorded in the statement of operations as other income.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Jun. 30, 2021
Stockholders' Equity
Stockholders' Equity	6. Stockholders’ Equity Common Stock Authorized ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2021 ​ March 31, 2021 ​ Number of shares $ Number of shares $ Exchangeable Shares ​ ​ ​ ​ ​ ​ Balance beginning of period 112,440 ​ $ 113 ​ 117,683 ​ $ 118 Converted into common shares — ​ ​ — ​ (5,243) ​ ​ (5) Balance at end of period 112,440 ​ ​ 113 ​ 112,440 ​ ​ 113 Common Shares ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at beginning of the period 5,589,375 ​ ​ 5,589 ​ 5,009,151 ​ ​ 5,008 Shares issued to exchangeable shareholders — ​ ​ — ​ 5,243 ​ ​ 5 Shares issued on conversion of loans — ​ ​ — ​ 181,463 ​ ​ 182 Shares issued in lieu of liabilities ​ ​ ​ ​ ​ ​ 397,685 ​ ​ 398 Cancellation of shares by shareholders ​ — ​ ​ — ​ (4,167) ​ ​ (4) Balance at end of the period 5,589,375 ​ ​ 5,589 ​ 5,589,375 ​ ​ 5,589 Total Shares 5,701,815 ​ $ 5,702 ​ 5,701,815 ​ $ 5,702 ​ As approved by the stockholders of the Company at the annual meeting of stockholders held on October 5, 2020, the Company filed a certificate of amendment to its Amended and Restated Certificate of Incorporation, as amended with the Secretary of State of Delaware to decrease the authorized number of shares of (i) common stock of the Company from 500,000,000 to 13,000,000 and (ii) preferred stock of the Company from 10,000,000 to 5,000,000. With the 2020 Convertible Notes, as discussed in Note 5 above, and pursuant to the terms of the 2020 Convertible Notes, the principal and interest of $1.7 million converted into 181,463 shares of the Company's common stock which were issued to the noteholders. The Company also issued shares in lieu of certain liabilities that it owed of which 262,125 shares of Bionik's common stock were issued in lieu of paying $0.7 million in director fees to its board of directors and 135,560 shares of common stock were issued for consideration consisting of the forgiveness and satisfaction of an aggregate of $0.3 million of deferred salary and bonus liabilities to two of its executives. Special Voting Preferred Share In February 2015, the Company entered into a voting and exchange trust agreement (the “Trust Agreement”). Pursuant to the Trust Agreement, the Company issued one Special Voting Preferred Share to a Trustee, and the parties created a trust for the Trustee to hold the Special Voting Preferred Share for the benefit of the holders of the Exchangeable Shares of a subsidiary of the Company. The Special Voting Preferred Share 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 Special Voting Preferred Share is not entitled to receive any dividends or to receive any assets of the Company upon liquidation and is not convertible into shares of common stock of the Company. The voting rights of the Special Voting Preferred Share will terminate pursuant to and in accordance with the Trust Agreement and the Special Voting Preferred Share will be automatically cancelled.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Jun. 30, 2021
Stock-Based Compensation
Stock-Based Compensation	7. Stock-Based Compensation Total stock-based compensation expense for the three months ended June 30, 2021 and 2020 was $0.1 million and $0.4 million, respectively. Bionik did not grant any stock options during the three months ended June 30, 2021 and 2020. Stock options granted to employees or non-employees typically vest over a 1 to 5 year period. Performance Based Units (“PSUs”) granted to employees vest annually based on time and continued performance and the achievement of performance goals as determined by the board of directors. The Company uses the Black-Scholes option pricing model to determine the estimated grant date fair values for stock-based awards. The Black-Scholes option pricing model requires the input of various subjective assumptions, including the option’s expected life and the price volatility of the underlying stock. The Company’s assumptions do not include an estimated forfeiture rate. Option-pricing models require the input of various subjective assumptions, including the option’s expected life and the price volatility of the underlying stock. As it relates to grants previously issued, Bionik’s estimated expected stock price volatility is based on past grants that have been made. Bionik’s expected term of options granted was derived from looking at the Company’s exercise history of its awards granted. The risk-free rate for the expected term of the options is based on the U.S. Treasury yield curve in effect at the time of the grant. As of June 30, 2021, the total unrecognized compensation cost related to outstanding stock options and PSUs expected to vest was $0.4 million, which the Company expects to recognize over a weighted-average period of 1.52 years.

Warrants

Warrants	3 Months Ended
	Jun. 30, 2021
Warrants
Warrants	8. Warrants The following is a continuity schedule of the Company’s common share purchase warrants: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ Number of ​ Exercise ​ Warrants Price Outstanding and exercisable, March 31, 2020 125,034 20.07 Expired (2,667) (37.50) Outstanding and exercisable, March 31, 2021 122,367 19.69 Expired ​ — ​ — Outstanding and exercisable June 30, 2021 122,367 19.69 ​ The following is a summary of common share purchase warrants outstanding as of June 30, 2021. ​ ​ ​ ​ ​ ​ Exercise Number of ​ Price ($) ​ Warrants ​ Expiry Date 90.00 ​ 15,658 ​ March 31, 2023 9.375 64,025 ​ August 14, 2022 9.375 42,684 ​ March 31, 2022 ​ 122,367 ​ ​ ​ The weighted-average remaining contractual term of the outstanding warrants was 1.07 years.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Jun. 30, 2021
Commitments and Contingencies.
Commitments and Contingencies	9. Commitments and Contingencies Contingencies From time to time, the Company may be involved in a variety of claims, suits, investigations and proceedings arising in the ordinary course of our business, collections claims, breach of contract claims, labor and employment claims, tax and other matters. Although claims, suits, investigations and proceedings are inherently uncertain and their results cannot be predicted with certainty, the Company believes that the resolution of current pending matters will not have a material adverse effect on its business, financial position, results of operations or cash flow. Regardless of the outcome, litigation can have an adverse impact on the Company because of legal costs, diversion of management resources and other factors. Commitments ● On February 25, 2015, 1,753 common shares were issued to two former lenders connected with a $0.2 million loan received and repaid during fiscal 2013. The common shares were valued at $210,323 based on the value of the concurrent private placement and recorded in stock-based compensation on the consolidated statement of operations and comprehensive loss. As part of the consideration for the initial loan, the Company's then-CTO and COO had transferred 2,098 common shares to the lenders. For contributing the common shares to the lenders, the Company intends to reimburse the former CTO and COO 2,134 common shares. As of June 30, 2021 these shares have not yet been issued. ● In May 2020, the Company gave notice to its JV Partner, Ginger Capital Investment Holding, Ltd. that it was terminating the licensing and distribution agreements in accordance with its terms. The China JV was originally established for purposes of strengthening the economic cooperation and technical exchange between the parties and adopting advanced technology and scientific management methods through the distribution and promotion of the Company's products in the People's Republic of China, Hong Kong and Macau. ● In connection with the Company’s April 2016 acquisition of Interactive Motion Technologies, Inc., the Company acquired a license agreement dated September 8, 2009, with a former director as a co-licenser, pursuant to which the Company is obligated to pay the former director and the co-licenser an aggregate royalty of 1% of sales based on patent #8,613,691 Dynamic Lower Limb Rehabilitation Robotic Apparatus and Method of Rehabilitating Human Gait). No sales have been made, as the technology under this patent has not been commercialized.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Jun. 30, 2021
Recent Accounting Pronouncements.
Recent Accounting Pronouncements	10. Recent Accounting Pronouncements Accounting Standards Update 2020-06—Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity: simplifies accounting for convertible instruments by removing major separation models required under current U.S. GAAP. Consequently, more convertible debt instruments will be reported as a single liability instrument and more convertible preferred stock as a single equity instrument with no separate accounting for embedded conversion features. The ASU removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception, which will permit more equity contracts to qualify for it. The ASU also simplifies the diluted earnings per share (EPS) calculation in certain areas. The amendments in this Update are effective for public business entities that meet the definition of an SEC filer, excluding entities eligible to be smaller reporting companies as defined by the SEC, for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The Company is currently evaluating the impact the adoption of ASU 2020-06 will have on the Company’s consolidated financial statements and related disclosures. In December 2019, the FASB issued ASU 2019-12 - Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, an authoritative guidance that simplifies the accounting for income taxes by removing certain exceptions and making simplifications in other areas. It is effective from the first quarter of fiscal year 2022, with early adoption permitted in any interim period. If adopted early, the Company must adopt all the amendments in the same period. The amendments have differing adoption methods including retrospectively, prospectively and/or modified retrospective basis through a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year of adoption, depending on the specific change. The Company does not anticipate the new guidance will have a material impact on the consolidated balance sheet and consolidated statement of operations and comprehensive loss.

Subsequent Events

Subsequent Events	3 Months Ended
	Jun. 30, 2021
Subsequent Events
Subsequent Events	11. Subsequent Events On July 15, 2021, the Company commenced a refinancing of its existing indebtedness and launched a new secured convertible promissory note offering of up to $10.0 million (the “2021 Offering”). Pursuant to the terms of the 2021 Offering, the Company is offering for sale up to $10.0 million in convertible promissory notes (the “2021 Notes”) to accredited investors and non-U.S. persons. As a result, the Company issued an aggregate of $8.3 million in principal of 2021 Notes of which an aggregate of $5.0 million was purchased for cash and the remainder was issued as a result of consolidating existing debt. Under the Company’s existing term loan and security agreement as well as the existing shareholder loan as mentioned above, a portion of the outstanding principal and unpaid interest were used as consideration to acquire new 2021 Notes in the 2021 Offering and, as a result and with the option exercises described below, the term loan agreement and the existing shareholder loan were deemed paid in full and terminated. Accordingly, an aggregate of $1.1 million in outstanding principal and accrued unpaid interest under the term loan agreement was used to purchase a like amount of 2021 Notes in the 2021 Offering and an aggregate of $2.2 million in outstanding principal and accrued and unpaid interest under the shareholder loan was used to purchase a like amount of 2021 Notes in the 2021 Offering. The remaining $0.6 million of the outstanding principal and accrued and unpaid interest under the term loan agreement was applied towards the purchase price to exercise outstanding options of the debtholders. Pursuant to the terms of the 2021 Offering, the Company issued an aggregate of $5.0 million in principal of additional 2021 Notes, which was purchased for cash. The Company intends to use the net cash proceeds from the 2021 Offering for the Company’s working capital requirements. The 2021 Notes bear interest at a fixed rate of 1% per month, computed based on a 360-day year of twelve 30-day months and will be payable, along with the principal amount, on the earlier of (the “Maturity Date”): (a) March 31, 2022 and (b) the consummation of the 2021 Offering, provided that the Company raises in one or more tranches aggregate gross proceeds of no less than $10,000,000. The 2021 Note will be convertible either on the Maturity Date without any action on the part of the Lender into shares of common stock at a conversion price of $9.50 per share (the “Conversion Price”), or upon a change of control transaction prior to the Maturity Date at the election of the holders of a majority of the outstanding principal of the 2021 Notes under the 2021 Offering, be either (i) payable upon demand as of the closing of such change of control transaction or (ii) convertible into shares of the Company’s common stock immediately prior to such change of control transaction at a price per share equal to the lesser of (x) the Conversion Price, or (y) the per share consideration to be received by the holders of the common stock in such change of control transaction.

Interim Condensed Consolidate_2

Interim Condensed Consolidated Financial Statements (Tables)	3 Months Ended
	Jun. 30, 2021
Interim Condensed Consolidated Financial Statements
Schedule of useful lives for property and equipment	​ ​ ​ ​ ​ Useful Life (in years) Computers and electronics 3 Furniture and fixtures 5 Demonstration equipment 3 Manufacturing equipment 5 Tools and parts 3 Assets under capital lease Life of lease

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets
Schedule of changes to goodwill	Changes to goodwill during the three months ended June 30, 2021 were as follows: ​ ​ ​ ​ ​ ​ Total Balance—March 31, 2021 ​ $ 4,282,984 Adjustments to goodwill ​ ​ — Balance— June 30, 2021 ​ $ 4,282,984
Schedule of intangible assets	​ ​ ​ ​ ​ ​ Total Balance—March 31, 2021 ​ $ 4,282,984 Adjustments to goodwill ​ ​ — Balance— June 30, 2021 ​ $ 4,282,984

Balance Sheet Accounts (Tables)

Balance Sheet Accounts (Tables)	3 Months Ended
	Jun. 30, 2021
Balance Sheet Accounts
Schedule of prepaid expenses and other current assets	​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, March 31, ​ ​ 2021 ​ 2021 Prepaid inventory ​ $ 1,495,968 ​ $ 1,501,542 Prepaid insurance ​ 178,612 ​ 52,573 Other prepaid expenses ​ 105,354 ​ 126,442 ​ ​ $ 1,779,934 ​ $ 1,680,557 ​
Schedule of components of equipment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2021 ​ March 31, 2021 ​ ​ Accumulated ​ Accumulated ​ Cost Depreciation Net Cost Depreciation Net Computers and electronics ​ $ 303,337 ​ $ 303,337 ​ $ — ​ $ 303,337 ​ $ 303,337 ​ $ — Furniture and fixtures ​ 36,795 ​ 36,795 ​ — ​ 36,795 ​ 36,795 ​ — Demonstration equipment ​ 123,301 ​ 55,456 ​ 67,845 ​ 170,386 ​ 76,809 ​ 93,557 Manufacturing equipment ​ 88,742 ​ 88,742 ​ — ​ 88,742 ​ 88,742 ​ — Tools and parts ​ 11,422 ​ 11,422 ​ — ​ 11,422 ​ 11,422 ​ — Assets under capital lease ​ 68,453 ​ 68,453 ​ — ​ 68,453 ​ 68,453 ​ — ​ ​ $ 632,050 ​ $ 564,205 ​ $ 67,845 ​ $ 679,135 ​ $ 585,558 ​ $ 93,577 ​
Schedule of accrued expenses	​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, March 31, ​ ​ 2021 ​ 2021 Accrued personnel costs ​ $ 301,591 ​ $ 371,886 Accrued director fees ​ 158,172 ​ 50,672 Accrued commissions ​ 54,117 ​ 51,080 Accrued professional fees ​ 65,000 ​ 127,211 Accrued warranty costs ​ 29,187 ​ 45,936 Accrued other ​ 170,334 ​ 113,241 ​ ​ $ 778,401 ​ $ 760,026 ​

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Jun. 30, 2021
Inventories
Schedule of inventory	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ March 31, ​ 2021 2021 ​ ​ ​ ​ ​ ​ ​ Finished goods ​ ​ 601,312 ​ ​ 692,163 ​ ​ $ 601,312 ​ $ 692,163

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Jun. 30, 2021
Stockholders' Equity
Schedule of share capital	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2021 ​ March 31, 2021 ​ Number of shares $ Number of shares $ Exchangeable Shares ​ ​ ​ ​ ​ ​ Balance beginning of period 112,440 ​ $ 113 ​ 117,683 ​ $ 118 Converted into common shares — ​ ​ — ​ (5,243) ​ ​ (5) Balance at end of period 112,440 ​ ​ 113 ​ 112,440 ​ ​ 113 Common Shares ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at beginning of the period 5,589,375 ​ ​ 5,589 ​ 5,009,151 ​ ​ 5,008 Shares issued to exchangeable shareholders — ​ ​ — ​ 5,243 ​ ​ 5 Shares issued on conversion of loans — ​ ​ — ​ 181,463 ​ ​ 182 Shares issued in lieu of liabilities ​ ​ ​ ​ ​ ​ 397,685 ​ ​ 398 Cancellation of shares by shareholders ​ — ​ ​ — ​ (4,167) ​ ​ (4) Balance at end of the period 5,589,375 ​ ​ 5,589 ​ 5,589,375 ​ ​ 5,589 Total Shares 5,701,815 ​ $ 5,702 ​ 5,701,815 ​ $ 5,702 ​

Warrants (Tables)

Warrants (Tables)	3 Months Ended
	Jun. 30, 2021
Warrants
Schedule of continuity schedule	The following is a continuity schedule of the Company’s common share purchase warrants: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ Number of ​ Exercise ​ Warrants Price Outstanding and exercisable, March 31, 2020 125,034 20.07 Expired (2,667) (37.50) Outstanding and exercisable, March 31, 2021 122,367 19.69 Expired ​ — ​ — Outstanding and exercisable June 30, 2021 122,367 19.69
Schedule of common share purchase warrants outstanding	The following is a summary of common share purchase warrants outstanding as of June 30, 2021. ​ ​ ​ ​ ​ ​ Exercise Number of ​ Price ($) ​ Warrants ​ Expiry Date 90.00 ​ 15,658 ​ March 31, 2023 9.375 64,025 ​ August 14, 2022 9.375 42,684 ​ March 31, 2022 ​ 122,367 ​ ​

Interim Condensed Consolidate_3

Interim Condensed Consolidated Financial Statements (Details)	3 Months Ended
	Jun. 30, 2021
Computers and electronics
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	3 years
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	5 years
Demonstration equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	3 years
Manufacturing equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	5 years
Tools and parts
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	3 years

Interim Condensed Consolidate_4

Interim Condensed Consolidated Financial Statements - Additional information (Details) - USD ($)	Jul. 15, 2021	Jun. 30, 2021	Jun. 30, 2020	Mar. 31, 2021	Mar. 31, 2020
Cash and cash equivalents		$ 541,587	$ 2,403,037	$ 608,348	$ 2,269,747
Working Capital (Deficit) Surplus		400,000		700,000
Retained Earnings (Accumulated Deficit)		(85,445,239)		$ (84,994,327)
Comprehensive Income (Loss), Net of Tax		(458,710)	(2,007,076)
Proceeds from convertible loans		$ 0	$ 1,302,575
Subsequent Event
Aggregate principal amount	$ 8,300,000
Proceeds from convertible loans	5,000,000
Subsequent Event | Secured convertible promissory note
Maximum convertible note offering	$ 10,000,000

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets (Details)	Jun. 30, 2021USD ($)
Changes to goodwill
Beginning balance	$ 4,282,984
Ending balance	$ 4,282,984

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Consist of Intangible Assets (Details) - USD ($)	3 Months Ended	12 Months Ended
	Jun. 30, 2021	Mar. 31, 2021
Gross carrying amount	$ 5,580,704	$ 5,580,704
Impairment	(3,079,593)	(3,079,593)
Accumulated amortization	(1,544,192)	(1,524,560)
Balance-June 30, 2021	956,919	$ 976,551
Balance-March 31, 2021	$ 976,551
Patents and Exclusive License Agreement [Member]
Useful life	9 years 8 months 26 days	9 years 8 months 26 days
Gross carrying amount	$ 1,306,031	$ 1,306,031
Impairment	(316,388)	(316,388)
Accumulated amortization	(632,724)	(613,092)
Balance-June 30, 2021	356,919	$ 376,551
Balance-March 31, 2021	$ 376,551
Customer Relationships [Member]
Useful life	10 years	10 years
Gross carrying amount	$ 1,431,680	$ 1,431,680
Impairment	(857,298)	(857,298)
Accumulated amortization	$ (574,382)	$ (574,382)
Non compete Agreement [Member]
Useful life	2 years	2 years
Gross carrying amount	$ 61,366	$ 61,366
Accumulated amortization	$ (61,366)	$ (61,366)
Assembled Workforce [Member]
Useful life	1 year	1 year
Gross carrying amount	$ 275,720	$ 275,720
Accumulated amortization	(275,720)	(275,720)
Trademark [Member]
Gross carrying amount	2,505,907	2,505,907
Impairment	(1,905,907)	(1,905,907)
Balance-June 30, 2021	600,000	$ 600,000
Balance-March 31, 2021	$ 600,000

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Additional Information (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020
Goodwill and Intangible Assets
Amortization expense	$ 20,000	$ 24,000

Balance Sheet Accounts (Details

Balance Sheet Accounts (Details) - USD ($)	Jun. 30, 2021	Mar. 31, 2021
Prepaid Expenses
Prepaid inventory	$ 1,495,968	$ 1,501,542
Prepaid insurance	178,612	52,573
Other prepaid expenses	105,354	126,442
Prepaid Expense, Total	$ 1,779,934	$ 1,680,557

Balance Sheet Accounts - Equipm

Balance Sheet Accounts - Equipment (Details) - USD ($)	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Mar. 31, 2021
Equipment, Cost	$ 632,050		$ 679,135
Accumulated Depreciation	564,205		585,558
Equipment, Net	67,845		93,577
Depreciation expense	9,000	$ 18,000
Computers and electronics
Equipment, Cost	303,337		303,337
Accumulated Depreciation	303,337		303,337
Furniture and fixtures
Equipment, Cost	36,795		36,795
Accumulated Depreciation	36,795		36,795
Demonstration equipment
Equipment, Cost	123,301		170,386
Accumulated Depreciation	55,456		76,809
Equipment, Net	67,845		93,557
Manufacturing equipment
Equipment, Cost	88,742		88,742
Accumulated Depreciation	88,742		88,742
Tools and parts
Equipment, Cost	11,422		11,422
Accumulated Depreciation	11,422		11,422
Assets under capital lease
Equipment, Cost	68,453		68,453
Accumulated Depreciation	$ 68,453		$ 68,453

Balance Sheet Accounts - Accrue

Balance Sheet Accounts - Accrued Expenses (Details) - USD ($)	3 Months Ended
	Jun. 30, 2021	Mar. 31, 2021
Balance Sheet Accounts
Accrued personnel costs	$ 301,591	$ 371,886
Accrued director fees	158,172	50,672
Accrued commissions	54,117	51,080
Accrued professional fees	65,000	127,211
Accrued warranty costs	29,187	45,936
Accrued other	170,334	113,241
Accrued Liabilities, Current, Total	$ 778,401	$ 760,026
Warranty term	1 year

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Details) - USD ($)	Jun. 30, 2021	Mar. 31, 2021
Inventories
Finished goods	$ 601,312	$ 692,163
Inventory, Net	$ 601,312	$ 692,163

Demand Loans & PPP Loans (Detai

Demand Loans & PPP Loans (Details) - USD ($)	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Debt Instrument [Line Items]
Proceeds from convertible loans	$ 0	$ 1,302,575
Interest expense	$ 102,296	74,975
Convertible Loans Payable [Member]
Debt Instrument [Line Items]
Proceeds from convertible loans		1,300,000
Convertible loans received		100,000
Maximum convertible note offering		$ 7,000,000
Debt Instrument, Interest Rate, Stated Percentage		1.00%
Discount Percentage On Offer Price		20.00%
Interest expense		$ 16,000

Demand Loans & PPP Loans - Shor

Demand Loans & PPP Loans - Short term loan (Details) - USD ($)	Feb. 24, 2021	Mar. 23, 2020	May 31, 2021	May 31, 2020	Jun. 30, 2021	Jun. 30, 2020	Mar. 31, 2021
Debt Instrument [Line Items]
Proceeds from short-term loan					$ 550,000	$ 0
Interest expense					102,296	74,975
Promissory Note [Member]
Debt Instrument [Line Items]
Promissory Note signed				$ 500,000
Debt instrument bears interest per annum				1.00%
Interest deferment period			6 months
Shareholder Loan [Member]
Debt Instrument [Line Items]
Proceeds from short-term loan		$ 2,000,000
Consummation of minimum of equity or debt financing					5,000,000
Interest expense					100,000	$ 100,000
Interest payable					300,000		$ 300,000
Shareholder Loan [Member] | Promissory Note [Member]
Debt Instrument [Line Items]
Interest rate per month		1.00%
Term Loan [Member]
Debt Instrument [Line Items]
Proceeds from short-term loan					1,600,000
Interest rate per month	1.00%
Maximum borrowing debt amount	$ 3,000,000
Minimum amount of equity	$ 3,000,000
Proceeds from Loans					$ 600,000

Stockholders' Equity - Common s

Stockholders' Equity - Common shares issued (Details) - USD ($)	3 Months Ended	12 Months Ended
	Jun. 30, 2021	Mar. 31, 2021
Opening Balance	$ 3,281,030
Closing Balance	$ 2,916,864	$ 3,281,030
Exchangeable Shares [Member]
Opening Balance (in shares)	112,440	117,683
Opening Balance	$ 113	$ 118
Converted into common shares (in shares)	0	(5,243)
Converted into common shares	$ 0	$ (5)
Closing Balance (in shares)	112,440	112,440
Closing Balance	$ 113	$ 113
Common Shares [Member]
Opening Balance (in shares)	5,589,375	5,009,151
Opening Balance	$ 5,589	$ 5,008
Shares issued to exchangeable shareholders (in shares)	0	5,243
Shares issued to exchangeable shareholders	$ 0	$ 5
Shares issued on conversion of loans (in shares)	0	181,463
Shares issued on conversion of loans	$ 0	$ 182
Shares issued in lieu of liabilities (in shares)		397,685
Shares issued in lieu of liabilities		$ 398
Cancellation of shares by shareholders (in shares)	0	(4,167)
Cancellation of shares by shareholders	$ 0	$ (4)
Closing Balance (in shares)	5,589,375	5,589,375
Closing Balance	$ 5,589	$ 5,589
Common Shares And Exchangeable Shares [Member]
Opening Balance (in shares)	5,701,815
Opening Balance	$ 5,702
Closing Balance (in shares)	5,701,815	5,701,815
Closing Balance	$ 5,702	$ 5,702

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Oct. 05, 2020
Common Stock, Shares Authorized	13,000,000	13,000,000	500,000,000
Preferred Stock, Shares Authorized	5,000,000	5,000,000	10,000,000
Issued shares in lieu of certain liabilities	262,125
Board of directors fees	$ 0.7
Common stock issued for consideration consisting of deferred salary and bonus liabilities	135,560
Deferred salary and bonus liabilities	$ 0.3
Convertible notes payable [Member]
Number of Shares Converted	181,463
Conversion of Stock, Amount Issued	$ 1.7

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense	$ 0.1	$ 0.4
Vesting period	1 year	5 years
Performance Based Units (PSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 0.4
Expects to recognize over weighted-average period	1 year 6 months 7 days

Warrants - Summary of continuit

Warrants - Summary of continuity schedule (Details) - $ / shares	3 Months Ended	12 Months Ended
	Jun. 30, 2021	Mar. 31, 2021
Warrants
Number of Warrants, Outstanding and exercisable, Beginning balance	122,367	125,034
Weighted-Average Exercise Price, Outstanding and exercisable, Beginning balance	$ 19.69	$ 20.07
Number of Warrants, Expired	0	(2,667)
Weighted-Average Exercise Price, Expired	$ 0	$ (37.50)
Number of Warrants, Outstanding and exercisable, Ending balance	122,367	122,367
Weighted-Average Exercise Price, Outstanding and exercisable, Ending balance	$ 19.69	$ 19.69

Warrants - Summary of common sh

Warrants - Summary of common share purchase warrants outstanding (Details)	3 Months Ended
	Jun. 30, 2021$ / sharesshares
Class of Warrant or Right [Line Items]
Class of Warrant or Right, Number of Warrants	122,367
Warrant One [Member]
Class of Warrant or Right [Line Items]
Warrant exercise price | $ / shares	$ 90
Class of Warrant or Right, Number of Warrants	15,658
Class Of Warrant Or Right Expiry Date	Mar. 31, 2023
Warrant Two [Member]
Class of Warrant or Right [Line Items]
Warrant exercise price | $ / shares	$ 9.375
Class of Warrant or Right, Number of Warrants	64,025
Class Of Warrant Or Right Expiry Date	Aug. 14, 2022
Warrant Three [Member]
Class of Warrant or Right [Line Items]
Warrant exercise price | $ / shares	$ 9.375
Class of Warrant or Right, Number of Warrants	42,684
Class Of Warrant Or Right Expiry Date	Mar. 31, 2022

Warrants - Additional Informati

Warrants - Additional Information (Details)	3 Months Ended
	Jun. 30, 2021
Warrants
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms	1 year 25 days

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($)	Feb. 25, 2015	Jun. 30, 2021
Stock Issued During Period, Shares, New Issues	1,753
Stock Issued During Period, Value, New Issues	$ 210,323
Loan received and repaid	$ 200,000
Percentage of Royalty on Sales		1.00%
Former Chief Technology Officer And New Chief Technology Officer [Member]
Stock Transferred To Lenders	2,098
Stock to be Reimbursed to Officers	2,134

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	Jul. 15, 2021	Jun. 30, 2021	Jun. 30, 2020	Jul. 16, 2021	Mar. 31, 2021
Subsequent Event [Line Items]
Proceeds from convertible loans		$ 0	$ 1,302,575
Loan outstanding		$ 2,212,334			$ 2,152,334
Subsequent Event
Subsequent Event [Line Items]
Promissory Note signed	$ 8,300,000
Proceeds from convertible loans	$ 5,000,000
Interest rate	1.00%
Debt term	360 days
Subsequent Event | Shareholder Loan [Member]
Subsequent Event [Line Items]
Loan outstanding	$ 1,100,000
Subsequent Event | Term loan, Purchase of 2021 notes
Subsequent Event [Line Items]
Loan outstanding	2,200,000
Subsequent Event | Term loan, Exercise Outstanding options of debenture holders
Subsequent Event [Line Items]
Loan outstanding	600,000
Subsequent Event | Secured convertible promissory note
Subsequent Event [Line Items]
Maximum convertible note offering	10,000,000
Subsequent Event | 2021 Offering
Subsequent Event [Line Items]
Promissory Note signed	8,300,000			$ 5,000,000
Proceeds from convertible loans	5,000,000
Subsequent Event | 2021 Offering | Secured convertible promissory note
Subsequent Event [Line Items]
Maximum convertible note offering	$ 10,000,000
Conversion price	$ 9.50
Conversion price	$ 9.50