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 at an exercise price of $183.00 per share 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 and six month period ended September 30, 2018, $35,609 and $71,219 (September 30, 2017 – $35,609 and $71,218) in stock compensation expense was recognized. On December 14, 2015, the Company granted 16,634 options to employees, directors and consultants at an exercise price of $150 per share 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 and for the six month period ended September 30, 2018, 167 options, 267 options, 2,912 options and 789 options, respectively, were cancelled and for the three and six month period ended September 30, 2018, $36,275 and $77,625 (September 30, 2017 – $298,573 and $396,523) 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 $37.50 per share, 6,667 have an exercise price of $142.50 per share and 16,666 have an exercise price of $157.50 per share. The grant date fair value of vested options was $2,582,890 and has been recorded as part of the original acquisition equation. The options are fully expensed. On April 26, 2016, the Company granted 1,667 options to an employee with an exercise price of $150 per share that vest over three years at the anniversary date. The grant fair value was $213,750. During the three and six months ended September 30, 2018, $17,813 and $35,625 (September 30, 2017- $17,813 and $35,625) 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 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 three and six months ended September 30, 2018, $18,113 and $36,226 (September 30, 2017 – $54,339 and $108,678) 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 three and six months ended September 30, 2018, $20,433 and $40,867 (September 30, 2017 – $20,433 and $40,867) 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 three and six months ended September 30, 2018, $80,425 and $92,821 (September 30, 2017 – $12,396 and $24,792) 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 13,334 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 e executive left in April 2018 and all of these options were cancelled. On September 1, 2017, the Company granted % of the remaining options vest on performance goals being met and % vest over years, the remaining options vest over 5 years. The grant fair value was $1,832,304 and for the three and six months ended September 30, 2018, $190,865 and $229,037 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 . During the six month period ended September 30, 2018, 2,834 options were cancelled and for the three and six months ended September 30, 2018, $ 37,266 and $ 76,968 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 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 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 $ 2,528 and $ 3,090 of stock compensation expense was recognized in the three and six months ended September 30, 2018 During the three and six months ended September 30, 2018, the Company recorded $ 439,328 and $ 1,034,740 in share-based compensation related to the vesting of stock options (September 30, 2017 – $ 762,208 and $ 1,013,256) . The following is a summary of stock options outstanding and exercisable as of September 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 20,360 23.25 22,434 January 24, 2025 - 9.735 40,000 April 19, 2028 40,000 6.93 5,000 June 10, 2025 - 196,044 102,143 The weighted-average remaining contractual term of the outstanding options was 7.53 (March 31, 2018 – 5.81) and for the options that are exercisable the weighted average was 7.15 (March 31, 2018 – 5.70) . |