Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 11. STOCK OPTIONS The purpose of the Company’s equity incentive plan, is to attract, retain and motivate persons of training, experience and leadership to the Company, including their directors, officers and employees, and to advance the interests of the Company by providing such persons with the opportunity, through share options, to acquire an increased proprietary interest in the Company. Options or other securities may be granted in respect of authorized and unissued shares, provided that the aggregate number of shares reserved for issuance upon the exercise of all options or other securities granted under the Plan shall not exceed 15% of the shares of common stock and Exchangeable Shares issued and outstanding (determined as of January 1 of each year). Optioned shares in respect of which options are not exercised shall be available for subsequent options. On November 24, 2015, the Company granted 4,334 options granted to employees that vest over three years at the anniversary date. The grant date fair value of the options was $694,384. During the year ended March 31, 2016, 1,667 options were cancelled and during the three month period ended June 30, 2018, $35,609 (June 30, 2017 $35,609) in stock compensation expense was recognized. On December 14, 2015, the Company granted 16,634 options to employees, directors and consultants that vest over three years at the anniversary date. The grant date fair value of the options was $1,260,437. During the years ended March 31, 2016, 2017 and 2018, 167 options, 267 options and 2,912 options, respectively, were cancelled and for the three month period ended June 30, 2018, $41,350 (June 30, 2017 $100,289) of stock compensation expense was recognized. On April 21, 2016, the Company granted 20,000 stock options to employees of Bionik, Inc., the Company’s wholly-owned subsidiary (formerly IMT) in exchange for 3,895,000 options that existed before the Company purchased IMT of which 6,667 have an exercise price of $ 37.50 142.50 $10,169) has been recognized as stock compensation expense in the first quarter of 2018. On April 26, 2016, the Company granted 1,667 options to an employee with an exercise price of $150.00 per share that vest over three years at the anniversary date. The grant fair value was $213,750. During the quarter ended June 30, 2018, $17,813 (June 30, 2017- $17,813) was recognized as stock compensation expense. On August 8, 2016, the Company granted 5,000 options to an employee with an exercise price of $150.00 per share that vest over three years at the anniversary date. The grant fair value was $652,068. The employee left in April 2018 and 3,334 options that had not vested were cancelled and the remaining 1,667 options will expire in November 2018. During the quarter ended June 30, 2018, $18,113 (June 30, 2017 $54,339) of stock compensation expense was recognized. On February 6, 2017, the Company granted 2,667 options to an employee with an exercise price of $105.00 per share that vest over three years at the anniversary date. The grant fair value was $245,200. During the quarter ended June 30, 2018, $20,433 (June 30, 2017 $20,433) of stock compensation expense was recognized. On February 13, 2017, the Company granted 1,667 options to a consultant with an exercise price of $102.00 per share that vest over one and one-half years, every six months. The grant fair value was $148,750. During the quarter ended June 30, 2018, $12,396 (June 30, 2017 $12,396) of stock compensation expense was recognized. These options are now fully vested. On August 3, 2017, 10,000 options with an exercise price of $31.50 per share were granted to an executive officer, which vest equally over three future years. In addition, this executive officer was also granted up to 3,334 additional performance options based on meeting sales targets for the years ended March 31, 2018 and 2019. The grant value was $387,209 and $7,546 was expensed as stock compensation in the quarter. The executive left in April 2018 and all of these options were cancelled. On September 1, 2017, the Company granted 81,436 options with an exercise price of $24.15 per share equally to an executive officer and a consultant who is now the Chairman of the Company. Of such options, 13,573 vested and 50% of the remaining options vest on performance goals being met and 50% vest over 5 years. The grant fair value was $1,832,304 and during the quarter ended June 30, 2018, $38,173 in stock compensation expense was recognized. On January 24, 2018, the Company granted 24,267 options with an exercise price of $23.25 per share to employees that vest equally on January 24, 2019, 2020 and 2021, The grant fair value was $491,036 and during the quarter ended June 30, 2018, $39,703 in stock compensation expense was recognized. On April 20, 2018, the Company granted to an executive officer, 40,000 options with an exercise price of $9.74 per share that vest immediately with a 10-year expiry. The Options were valued using the Black-Scholes model and the following inputs were used: expected life of 10 years, expected volatility of 114% and a risk free rate of 1.59%. As these options fully vested on the grant date, $363,714 of stock based compensation was recognized during the quarter. On June 11, 2018, the Company granted to a newly-hired executive officer 5,000 options with an exercise price of $6.93 per share that vest over three years from the anniversary of the date of grant and expire in 7 years. The options were valued using the Black-Scholes model and the following inputs were used: expected life of 7 years, expected volatility of 114% and a risk free rate of 1.59%. The grant fair value was $30,341 and $562 of stock compensation expense was recognized in the quarter. During the quarter ended June 30, 2018, the Company recorded $595,412 in share-based compensation related to the vesting of stock options (June 30, 2017 $251,048). The following is a summary of stock options outstanding and exercisable as of June 30, 2018: Exercise Price ($) Number of Options Expiry Date Exercisable Options 24.75 1,028 April 1, 2021 1,028 34.50 630 June 20, 2021 630 34.50 13,212 July 1, 2021 13,212 34.50 944 February 17, 2022 944 183.00 2,667 November 24, 2022 1,778 150.00 12,912 December 14, 2022 10,889 142.50 747 March 28, 2023 747 157.50 2,887 March 28, 2023 2,887 150.00 1,667 April 26, 2023 1,112 150.00 1,667 August 8, 2023 1,667 105.00 2,667 February 6, 2024 889 102.00 1,667 February 13, 2024 1,667 142.50 211 March 3, 2024 211 157.50 816 March 3, 2024 816 142.50 43 March 14, 2024 43 157.50 164 March 14,2024 164 142.50 485 September 30, 2024 485 157.50 1,876 September 30, 2024 1,876 142.50 24 June 2, 2025 24 157.50 90 June 2, 2025 90 37.50 442 December 30, 2025 442 142.50 328 December 30, 2025 182 24.15 81,436 September 1, 2027 13,573 23.25 22,434 January 24, 2025 - 9.735 40,000 April 19, 2028 40,000 6.93 5,000 June 10, 2025 - 196,044 95,356 The weighted-average remaining contractual term of the outstanding options was 7.89 (March 31, 2018 – 5.81) and for the options that are exercisable the weighted average was 7.38 (March 31, 2018 – 5.70) | 11. STOCK OPTIONS The purpose of the Company’s equity incentive plan, is to attract, retain and motivate persons of training, experience and leadership to the Company, including their directors, officers and employees, and to advance the interests of the Company by providing such persons with the opportunity, through share options, to acquire an increased proprietary interest in the Company. Options or other securities may be granted in respect of authorized and unissued shares, provided that the aggregate number of shares reserved for issuance upon the exercise of all options or other securities granted under the Plan shall not exceed 15% of the shares of common stock and Exchangeable Shares issued and outstanding (determined as of January 1 of each year). Optioned shares in respect of which options are not exercised shall be available for subsequent options. On November 24, 2015, the Company issued 4,334 options granted to employees that vest over three years at the anniversary date. The grant date fair value of the options was $694,384. During the year ended March 31, 2016, 1,667 options were cancelled and stock compensation expense of $62,317 was recognized. During the year ended March 31, 2018, $142,438, (March 31, 2017 -$142,438) in stock compensation expense was recognized. On December 14, 2015, the Company issued 16,634 options granted to employees, directors and consultants that vest over three years at the anniversary date. The grant date fair value of the options was $1,260,437. During the year ended March 31, 2016, 167 options were cancelled and for the year ended March 31, 2017, 267 options were cancelled and for the year ended March 31, 2018, 2,912 options were cancelled, and the year ended March 31, 2018, $479,315, (March 31, 2017 - $407,208) of stock compensation expense was recognized. On April 21, 2016, the Company issued 20,000 s $2,582,890 $29,524, (March 31, 2017 -$102,989) On April 26, 2016, the Company issued 1,667 options to an employee with an exercise price of $150.00 per share that will vest over three years at the anniversary date. The grant fair value was $213,750. During the year ended March 31, 2018, $71,250, (March 31, 2017 - $66,104) was recognized as stock compensation expense. On August 8, 2016, the Company issued 5,000 options to an employee with an exercise price of $150.00 per share that will vest over three years at the anniversary date. The grant fair value was $652,068. During the year ended March 31, 2018, $217,356, (March 31, 2017 -$140,230) of stock compensation expense was recognized. On February 6, 2017, the Company issued 2,667 options to an employee with an exercise price of $105.00 per share that will vest over three years at the anniversary date. The grant fair value was $245,200. During the year ended March 31, 2018, $81,733, (March 31, 2017 - $12,163) of stock compensation expense was recognized. On February 13, 2017, the Company issued 1,667 options to a consultant with an exercise price of $102.00 per share that will vest over one and one- half years, every six months. The grant fair value was $148,750. During the year ended March 31, 2018, $49,583, (March 31, 2017 -$6,345) of stock compensation expense was recognized. On August 3, 2017, 10,000 options at $31.50 per share to an executive officer, which vest equally over three future years. In addition, this executive officer was also granted up to 3,334 additional performance options based on meeting sales targets for the years ending March 31, 2018 and 2019. The performance options will vest at market price if the performance objectives are met. This grant had a grant date fair value of $387,209 and a share compensation expense of $60,371 was recognized for the year ended March 31, 2018. These options were valued using the Black-Scholes model and the following inputs: expected life of 7 years, expected volatility 114% and a risk-free rate of 1.73%. On September 1, 2017, the Company granted 81,436 options at $24.15 per share equally to an executive officer and a consultant. 13,573 options have vested and 50% of the remaining options vest on performance being met and 50% vest annually over 5 years. The grant date fair value was $1,832,304 and $381,730 is the current expense for the year ended March 31, 2018. These options were valued using the Black-Scholes model and the following inputs: expected life of 10 years, expected volatility 114% and a risk-free rate of 1.91%. On January 24, 2018, the Company granted 24,267 options at $23.25 per share to employees that vest equally on January 24, 2019, 2020 and 2021. The grant fair value was $491,036 and $27,280 is the current stock compensation expense for the year ended March 31, 2018. These options were valued using the Black-Scholes model and the following inputs: expected life of 10 years, expected volatility 114% and a risk-free rate of 1.91%. During the year ended March 31, 2018, the Company recorded $1,540,580 in share-based compensation related to the vesting of stock options (March 31, 2017 - $844,162). The following is a summary of stock options outstanding and exercisable as of March 31, 2018: These options at their respective grant dates were valued using the Black-Scholes option pricing model with the following key assumptions: Expected life Risk free Dividend Forfeiture Expected Grant date Grant date in rate rate rate volatility fair February 17, 2015 3.89 1.59 % 0 % 0 % 114 % $ 136,613 July 1, 2014 3.25 1.59 % 0 % 0 % 114 % $ 1,259,487 June 20, 2014 3.22 1.59 % 0 % 0 % 114 % $ 118,957 April 1, 2014 3.01 1.59 % 0 % 0 % 114 % $ 230,930 November 24, 2015 4.65 1.59 % 0 % 0 % 114 % $ 694,384 December 14, 2015 4.71 1.59 % 0 % 0 % 114 % $ 1,260,437 April 21, 2016 6.11 1.59 % 0 % 0 % 114 % $ 2,582,890 April 26, 2016 5.07 1.59 % 0 % 0 % 114 % $ 213,750 August 8, 2016 5.36 1.59 % 0 % 0 % 114 % $ 652,068 February 6, 2017 5.86 1.59 % 0 % 0 % 114 % $ 245,200 February 13, 2017 5.88 1.59 % 0 % 0 % 114 % $ 148,750 August 3, 2017 6.35 1.59 % 0 % 0 % 114 % $ 387,209 September 1, 2017 9.43 1.59 % 0 % 0 % 114 % 1,832,304 January 24, 2018 6.82 1.59 % 0 % 0 % 114 % $ 491,036 Number of Options Weighted-Average Outstanding, March 31, 2017 66,024 88.50 Issued 119,036 23.25 Exercised - - Expired - - Cancelled (14,385 ) 97.50 Outstanding, March 31, 2018 170,675 75.00 The following is a summary of stock options outstanding and exercisable as of March 31, 2018: Exercise Price ($) Number of Options Expiry Date Exercisable Options 24.75 1,762 April 1, 2021 1,762 34.50 651 June 20, 2021 651 34.50 13,212 July 1, 2021 13,212 34.50 944 February 17, 2022 944 183.00 2,667 November 24, 2022 1,778 150.00 13,289 December 14, 2022 11,178 142.50 747 March 28, 2023 747 157.50 2,887 March 28, 2023 2,887 150.00 1,667 April 26, 2023 556 150.00 5,000 August 8, 2023 1,667 105.00 2,667 February 6, 2024 889 102.00 1,667 February 13, 2024 1,111 142.50 211 March 3, 2024 211 157.50 816 March 3, 2024 816 142.50 43 March 14, 2024 43 157.50 164 March 14, 2024 164 142.50 485 September 30, 2024 485 157.50 1,876 September 30, 2024 1,876 142.50 23 June 2, 2025 23 157.50 90 June 2, 2025 90 37.50 442 December 30, 2025 442 142.50 328 December 30, 2025 182 31.50 13,334 August 3, 2024 - 24.15 81,436 September 1, 2027 13,573 23.25 24,267 January 24, 2025 - 170,675 55,287 The weighted-average remaining contractual term of the outstanding options is 7.46 (March 31, 2017 – 5.12) and for the options that are exercisable the weighted average is 5.74 (March 31, 2017 – 6.02). Reclassification of Fair Value As the Company does not have sufficient authorized shares of common stock to cover its options issued, a valuation of these options was done at March 31, 2018 and the resulting liability of $1,451,393 has been recorded in the consolidated balance sheet as shares to be issued, stock options and warrants. Grant Date Expected Life Risk Free rate Dividend rate Forfeiture Rate Expected Volatility Remeasured February 17, 2015 3.89 1.59 % 0 % 0 % 135 % $ 7,122 July 1, 2014 3.25 1.59 % 0 % 0 % 135 % $ 90,472 June 20, 2014 3.22 1.59 % 0 % 0 % 135 % $ 4,428 April 1, 2014 3.01 1.59 % 0 % 0 % 135 % $ 12,437 November 24, 2015 4.65 1.59 % 0 % 0 % 135 % $ 16,327 December 14, 2015 4.71 1.59 % 0 % 0 % 135 % $ 85,833 April 21, 2016 6.39 1.59 % 0 % 0 % 118 % $ 53,853 April 26, 2016 5.07 1.59 % 0 % 0 % 114 % $ 11,430 August 8, 2016 5.36 1.59 % 0 % 0 % 114 % $ 35,722 February 6, 2017 5.86 1.59 % 0 % 0 % 114 % $ 16,969 February 13, 2017 5.88 1.59 % 0 % 0 % 114 % $ 10,703 August 3, 2017 6.35 1.59 % 0 % 0 % 114 % $ 109,970 September 1, 2017 9.43 1.59 % 0 % 0 % 114 % $ 782,966 January 24, 2018 6.82 1.59 % 0 % 0 % 114 % $ 213,161 1,451,393 |