Edesa Biotech (EDSA) 10-Q 8 Feb 16 2016 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Dec. 31, 2015	Feb. 05, 2016
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Entity Registrant Name	Stellar Biotechnologies, Inc.
Entity Central Index Key	1,540,159
Current Fiscal Year End Date	--09-30
Entity Filer Category	Accelerated Filer
Trading Symbol	SBOT
Entity Common Stock, Shares Outstanding		8,448,758

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2015	Sep. 30, 2015
Current assets:
Cash and cash equivalents	$ 3,887,550	$ 3,955,503
Accounts receivable	35,630	157,597
Short-term investments	5,016,800	5,015,171
Inventory	527,958	557,280
Prepaid expenses	224,614	181,068
Total current assets	9,692,552	9,866,619
Noncurrent assets:
Property, plant and equipment, net	646,041	503,408
Deposits	15,900	15,900
Total noncurrent assets	661,941	519,308
Total Assets	10,354,493	10,385,927
Current liabilities:
Accounts payable and accrued liabilities	723,675	656,685
Deferred revenue	0	173,333
Warrant liability	0	1,550,630
Total Current Liabilities	$ 723,675	$ 2,380,648
Commitments (Note 6)
Shareholders' equity:
Common shares, unlimited common shares authorized, no par value, 8,448,758 and 7,984,758 issued and outstanding at December 31, 2015 and September 30, 2015, respectively	$ 41,336,056	$ 38,114,215
Accumulated share-based compensation	5,259,880	5,226,379
Accumulated deficit	(36,965,118)	(35,335,315)
Total Shareholders' Equity	9,630,818	8,005,279
Total Liabilities and Shareholders' Equity	$ 10,354,493	$ 10,385,927

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2015	Sep. 30, 2015
Common shares, par value
Common shares, shares issued	8,448,758	7,984,758
Common shares, shares outstanding	8,448,758	7,984,758

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Revenues:
Contract services revenue	$ 32,000	$ 60,000
Product sales	456,160	152,661
Revenues	488,160	212,661
Expenses:
Costs of sales and contract services	312,063	95,925
Costs of aquaculture	84,913	81,176
Research and development	288,849	418,821
General and administration	1,109,689	942,153
Total Expenses	1,795,514	1,538,075
Other Income (Loss)
Foreign exchange gain (loss)	(109,128)	(161,112)
Gain (loss) in fair value of warrant liability	(211,956)	139,556
Investment income	5,835	13,293
Other Income (Loss), Total	(315,249)	(8,263)
Loss Before Income Tax	(1,622,603)	(1,333,677)
Income tax expense	7,200	9,800
Net Loss	$ (1,629,803)	$ (1,343,477)
Loss per common share - basic and diluted (in dollars per share)	$ (0.19)	$ (0.17)
Weighted average number of common shares outstanding: Basic and diluted (in shares)	8,373,323	7,946,101

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Cash Flows Used In Operating Activities:
Net loss	$ (1,629,803)	$ (1,343,477)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization	32,386	37,535
Share-based compensation	124,496	86,865
Foreign exchange loss	109,128	161,112
(Gain) loss in fair value of warrant liability	211,956	(139,556)
Changes in working capital items:
Accounts receivable	121,945	8,045
Inventory	29,322	(99,417)
Prepaid expenses	(67,718)	36,469
Accounts payable and accrued liabilities	67,076	(33,120)
Deferred revenue	(173,333)	0
Net cash used in operating activities	(1,174,545)	(1,285,544)
Cash Flows From Investing Activities:
Acquisition of property, plant and equipment	(175,019)	(38,849)
Purchase of short-term investments	(1,629)	(1,222)
Proceeds on maturities of short-term investments	0	442,911
Net cash provided by (used in) investing activities	(176,648)	402,840
Cash Flows From Financing Activities:
Proceeds from exercise of warrants and options	1,368,260	28,719
Net cash provided by financing activities	1,368,260	28,719
Effect of exchange rate changes on cash and cash equivalents	(85,020)	(153,657)
Net change in cash and cash equivalents	(67,953)	(1,007,642)
Cash and cash equivalents - beginning of period	3,955,503	8,768,459
Cash and cash equivalents - end of period	3,887,550	7,760,817
Cash (demand deposits)	3,887,550	4,319,406
Cash equivalents	0	3,441,411
Cash and cash equivalents	$ 3,887,550	$ 8,768,459

Nature of Operations

Nature of Operations	3 Months Ended
	Dec. 31, 2015
Nature of Operations [Abstract]
Nature of Operations [Text Block]	Nature of Operations Stellar Biotechnologies, Inc. (the “Company”) is organized under the laws of British Columbia, Canada. The Company’s common shares are listed on the Nasdaq Capital Market under the trading symbol “SBOT” and on the TSX Venture Exchange as a Tier 2 issuer under the trading symbol “KLH.” Prior to listing on Nasdaq effective November 5, 2015, the Company’s common shares were quoted on the U.S. OTCQB Marketplace Exchange under the trading symbol SBOTF. In April 2010, the Company changed its name to Stellar Biotechnologies, Inc. and completed a reverse merger transaction with Stellar Biotechnologies, Inc., a California corporation, which was founded in September 1999, and remains the Company’s wholly-owned subsidiary and principal operating entity. The Company’s executive offices are located at 332 E. Scott Street, Port Hueneme, California, 93041, USA, and its registered and records office is Royal Centre, 1055 West Georgia Street, Suite 1500, Vancouver, BC, V6E 4N7, Canada. Nature of Operations The Company’s business is the aquaculture, research and development, manufacture and commercialization of Keyhole Limpet Hemocyanin (“KLH”). The Company markets and distributes its KLH products to biotechnology and pharmaceutical companies, academic institutions, and clinical research organizations primarily in Europe, the United States, and Asia. Management Plans For the three months ended December 31, 2015 and 2014, the Company reported net losses of approximately $ 1.6 1.3 0.2 0.1 37.0 9.0 In the past, operations of the Company have primarily been funded by the issuance of common shares, exercise of warrants, grant revenues, contract services revenue, and product sales. Management believes these financial resources are adequate to support the Company’s initiatives at the current level for at least 12 months. Management is also continuing the ongoing effort toward expanding the customer base for existing marketed products, and the Company may seek additional financing alternatives, including nondilutive financing through grants, collaboration and licensing arrangements, additional equity financing and debt financing. The accompanying condensed interim consolidated financial statements have been prepared on a going concern basis, which assumes that the Company will continue in operation for the foreseeable future and be able to realize its assets and discharge its liabilities and commitments in the normal course of business. Functional Currency The condensed interim consolidated financial statements of the Company are presented in U.S. dollars, unless otherwise stated, which is the Company’s functional currency.

Basis of Presentation

Basis of Presentation	3 Months Ended
	Dec. 31, 2015
Basis of Presentation [Abstract]
Basis of Accounting [Text Block]	Basis of Presentation The accompanying unaudited condensed interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q. They do not include all information and footnotes necessary for a fair presentation of financial position, results of operations and cash flows in conformity with U.S. GAAP for complete financial statements. These condensed interim consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes contained in the Company’s Annual Report on Form 10-K for the year ended September 30, 2015. The accompanying condensed interim consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Stellar Biotechnologies, Inc. All significant intercompany balances and transactions have been eliminated in consolidation. In the opinion of management, all adjustments (consisting of normal recurring adjustments and accruals) considered necessary for a fair presentation of the results of operations for the period presented have been included in the interim period. Operating results for the three months ended December 31, 2015 are not necessarily indicative of the results that may be expected for other interim periods or the year ending September 30, 2016. The condensed interim consolidated financial data at September 30, 2015 is derived from audited financial statements included in the Company’s Annual Report on Form 10-K for the year ended September 30, 2015, as filed on December 14, 2015 with the SEC. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from these estimates.

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Dec. 31, 2015
Significant Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	Significant Accounting Policies In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606) Other Assets and Deferred Costs: Contracts with Customers In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements - Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern . ASU 2014-15 defines management's responsibility to evaluate whether there is substantial doubt about an organization's ability to continue as a going concern and to provide related footnote disclosures. The guidance in ASU 2014-15 is effective for annual reporting periods beginning after , with early application permitted. Management is in the process of assessing the impact of ASU 2014-15 on the Company’s financial statements. In July 2015, FASB issued ASU 2015-11, Simplifying the Measurement of Inventory (Topic 330)

Inventory

Inventory	3 Months Ended
	Dec. 31, 2015
Inventory [Abstract]
Inventory Disclosure [Text Block]	Inventory Raw materials include inventory of manufacturing supplies. Work in process includes manufacturing supplies, direct and indirect labor, contracted manufacturing and testing, and allocated manufacturing overhead for inventory in process at the end of the period. Finished goods include products that are complete and available for sale. At December 31, 2015 and September 30, 2015, the Company recorded work in process and finished goods inventory only for those products with recent sales levels to evaluate net realizable value. At September 30, 2014 and prior, the Company recorded inventory only for custom manufacturing of products for specific customers, including manufacturing under supply agreements. December 31, September 30, 2015 2015 Raw materials $ 27,523 $ 42,549 Work in process 130,402 137,021 Finished goods 370,033 377,710 $ 527,958 $ 557,280

Property, Plant and Equipment,

Property, Plant and Equipment, net	3 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment, net [Abstract]
Property, Plant and Equipment Disclosure [Text Block]	Property, Plant and Equipment, net December 31, September 30, 2015 2015 Aquaculture system $ 124,529 $ 124,529 Laboratory facilities 62,033 62,033 Computer and office equipment 78,936 78,936 Tools and equipment 749,394 714,764 Vehicles 10,997 10,997 Leasehold improvements 130,117 123,562 1,156,006 1,114,821 Less: accumulated depreciation (675,878) (643,492) Depreciable assets, net 480,128 471,329 Construction in progress 165,913 32,079 $ 646,041 $ 503,408 Depreciation expense amounted to $ 32,386 37,535

Commitments

Commitments	3 Months Ended
	Dec. 31, 2015
Commitments [Abstract]
Commitments and Contingencies Disclosure [Text Block]	6. Commitments Operating leases The Company leases three buildings and facilities used in its operations under sublease agreements with the Oxnard Harbor District. In June 2015, the Company exercised its option to extend these sublease agreements for an additional five-year term beginning in October and November 2015. The Company negotiated an option to extend the leases for two additional five-year terms. The Company leases facilities used for executive offices and laboratories. The Company must pay a portion of the common area maintenance. In July 2014, the Company exercised its option to extend this lease for a two-year term. The Company leases undeveloped land in Baja California, Mexico to assess the potential development of an additional aquaculture locale and expansion of production. The lease term is three years from June 2015 with options to extend the lease for 30 years. The Company may terminate early with 30 days’ notice. The first two years of rent under the lease 74,606 December 31, 2015 For The Year Ending September 30, 2016 $ 108,000 2017 143,000 2018 106,000 2019 106,000 2020 106,000 Thereafter 6,000 $ 575,000 Rent expense on these lease agreements amounted to approximately $ 55,000 46,000 Purchase obligations The Company has commitments totaling approximately $ 364,000 13,000 Supply agreements The Company has two commitments under certain supply agreements with customers for fixed prices per gram on a non-exclusive basis except within that customer’s field of use. One amended and restated supply agreement replaced two prior agreements that automatically renewed each year. This agreement is effective March 2015 through March 2020 and is renewable for one-year terms upon written request of the customer. The other customer supply agreement is effective October 2014 through October 2019 and is renewable for one-year terms upon written request of the customer. Licensing fees In July 2013, the Company acquired the exclusive, worldwide license to certain patented technology for the development of human immunotherapies against Clostridium difficile 25,000 200,000 20,000 11,000 11,000 The license agreement expires when the last valid patent claim licensed under the license agreement expires, which is currently 2030. Prior to that time, the license agreement can be terminated by the licensor upon certain conditions. The Company will have 30 days after written notice from the licensor to cure the problem prior to termination of the license agreement. The Company can terminate the agreement with three months’ prior written notice. Upon execution of the license agreement, the Company issued 37,120 27,840 The license agreement provides for the Company to pay up to an aggregate of $ 6,020,000 57,025,000 100,000 Retirement savings plan 401(k) contributions The Company sponsors a 401(k) retirement savings plan that requires an annual non-elective safe harbor employer contribution of 3 100 17,000 20,000 Related party commitments Patent oyalty agreement On August 14, 2002, through its California subsidiary, the Company entered into an agreement with a director and officer of the Company, whereby he would receive royalty payments in exchange for assignment of his patent rights to the Company. The royalty is 5 500,000 Collaboration agreement In December 2013, the Company entered into a collaboration agreement with a privately-held Taiwanese biopharmaceuticals manufacturer which expired in December 2015. Under the terms of the agreement, the Company was responsible for the production and delivery of GMP grade KLH for evaluation as a carrier molecule in the collaboration partner’s potential manufacture of OBI-822 active immunotherapy. The Company was also responsible for method development, product formulation, and process qualification for certain KLH reference standards. The collaboration partner was responsible for development objectives and product specifications. The agreement provided for the collaboration partner to pay fees for certain expenses and costs associated with the collaboration. Subject to certain conditions and timing, the collaboration also provided for the parties to negotiate a commercial supply agreement for Stellar KLH™ in the future. However, there can be no assurance that any such negotiations will lead to successful execution of any further agreements related to this collaboration. The privately-held Taiwanese biopharmaceuticals manufacturer is a beneficial owner of over 5

Share Capital

Share Capital	3 Months Ended
	Dec. 31, 2015
Share Capital [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	7. Share Capital On September 2, 2015, the Company effected a share consolidation (reverse split) of the Company's common shares at a ratio of 1-for-10. As a result of the reverse split, every ten shares of the issued and outstanding common shares, without par value, consolidated into one newly-issued outstanding common share, without par value. Each fractional share remaining after the reverse split that was less than one-half of a share was cancelled and each fractional share that was at least one-half of a share was changed to one whole share. 79,847,550 7,984,758 Three Months Ended December 31, December 31, 2015 2014 Number of common shares issued 464,000 12,680 Proceeds from exercise of warrants $ 1,368,260 $ 938 Transfer to common shares on exercise of warrants 1,853,581 426 Proceeds from exercise of options - 27,781 Transfer to common shares on exercise of options - 27,619 Share-based compensation 124,496 86,865 Performance shares There were 1,000,000 At December 31, 2015, there are 383,838 Black-Scholes option valuation model The Company uses the Black-Scholes option valuation model to determine the fair value of warrants, broker units and share options. Option valuation models require the input of highly subjective assumptions including the expected price volatility. The Company has used historical volatility to estimate the volatility of the share price. Changes in the subjective input assumptions can materially affect the fair value estimates, and therefore the existing models do not necessarily provide a reliable single measure of the fair value of the Company’s warrants, broker units and share options. Warrants Number of Weighted Balance - September 30, 2015 1,022,761 CDN$12.12 Granted 40,000 CDN$4.00 Exercised (424,000) CDN$4.00 Expired (40,000) CDN$4.00 Balance - December 31, 2015 598,761 $13.33 As a result of the exercise and expiration of warrants in the quarter ended December 31, 2015, there are no outstanding warrants with exercise prices denominated in Canadian dollars. The weighted average contractual life remaining on the outstanding warrants at December 31, 2015 is 8.4 Exercise Price Number of Expiry Date $13.50 470,190 September 9, 2016 $10.50 20,000 September 9, 2016 Broker warrants $13.50 95,238 September 20, 2016 $10.50 13,333 September 20, 2016 Broker warrants 598,761 Warrant liability All warrants with exercise prices denominated in Canadian dollars were exercised or expired. Therefore there is no outstanding warrant liability at December 31, 2015. Equity offerings conducted by the Company in prior years included the issuance of warrants with exercise prices denominated in Canadian dollars. The Company’s functional currency is the U.S. dollar. As a result of having exercise prices denominated in other than the Company’s functional currency, these warrants meet the definition of derivatives and are therefore classified as derivative liabilities measured at fair value with adjustments to fair value recognized through the consolidated statements of operations. As these warrants are exercised, the fair value of the recorded warrant liability on date of exercise is included in common shares along with the proceeds from the exercise. If these warrants expire, the related decrease in warrant liability is recognized in profit or loss, as part of the change in fair value of warrant liability. There is no cash flow impact as a result of this accounting treatment. The fair value of the warrants is determined using the Black-Scholes option valuation model at the end of each reporting period. Upon exercise of the warrants, the fair value of warrants included in derivative liabilities is reclassified to equity. Three Months Ended December 31, December 31, 2015 2014 Risk free interest rate 0.48 % 1.12 % Expected life (years) 0.04 0.01 Expected share price volatility 92 % 97 % Three Months Ended December 31, 2015 Risk free interest rate 0.52 % Expected life (years) 0.01 Expected share price volatility 91 % Expected dividend yield 0 % There were no warrants granted during the three months ended December 31, 2014. Broker units The Company granted broker units as finders’ fees in conjunction with equity offerings in prior years. Broker units are fully vested when granted and allow the holders to purchase equity units. Each unit consists of one common share and one warrant to purchase a common share. Number of Weighted Balance - September 30, 2015 46,600 CDN$2.50 Exercised (40,000) CDN$2.50 Balance - December 31, 2015 6,600 CDN$2.50 The weighted average contractual life remaining on the outstanding broker units is 4 Exercise Price Number of Expiry Date CDN$2.50 6,600 January 4, 2016 * 6,600 *Subsequently expired without being exercised. There were no broker units granted during the three months ended December 31, 2015 and 2014. Options The Company has a fixed share option plan adopted in 2013 (the “Plan”) administered by the Board of Directors, which has the discretion to grant up to an aggregate of 1,000,000 (a) One-third shall vest immediately; (b) One-third shall vest 12 months from the date of grant; and (c) One-third shall vest 18 months from the date of grant. Share options granted to investor relations consultants vest over a period of not less than 12 months as to 25% on the date that is three months from the date of grant, and a further 25% on each successive date that is three months from the date of the prior vesting. Number of Weighted Balance - September 30, 2015 557,638 CDN$6.93 Granted 47,700 $7.24 Expired (6,667) $18.30 Expired (41,501) CDN$5.38 Balance - December 31, 2015 557,170 CDN$7.18 The weighted average contractual life remaining on the outstanding options is 3.2 Number of Exercisable at Range of exercise Expiry Dates 292,110 292,110 CDN$0.01 - 5.00 Apr 2017-Dec 2019 146,360 143,027 CDN$5.01 - 10.00 Oct 2017-Jun 2022 47,700 15,900 $5.01 - 10.00 Dec 2022 21,500 17,667 CDN$15.01 - 20.00 Nov 2018-Nov 2021 49,500 49,500 $15.01 - 20.00 Nov 2020 557,170 518,204 Three Months Ended December 31, December 31, 2015 2014 Risk free interest rate 1.05 % 1.71 % Expected life (years) 7 7 Expected share price volatility 108 % 116 % Expected dividend yield 0 % 0 % The weighted average fair value of share options awarded during the three months ended December 31, 2015 and 2014 was CDN$ 9.42 13.43 As of December 31, 2015, the Company had approximately $ 219,000 1.5 The intrinsic value of the options exercised during the three months ended December 31, 2014 was CDN$ 11.50 3.89

Supplemental Disclosure of Cash

Supplemental Disclosure of Cash Flow and Non-Cash Transactions	3 Months Ended
	Dec. 31, 2015
Supplemental Disclosure of Cash Flow and Non-Cash Transactions [Abstract]
Cash Flow, Supplemental Disclosures [Text Block]	8. Supplemental Disclosure of Cash Flow and Non-Cash Transactions Three Months Ended December 31, December 31, 2015 2014 Cash paid during the period for taxes $ 7,200 $ 9,800 Three Months Ended December 31, December 31, 2015 2014 Transfer to common shares on exercise of warrants $ 1,853,581 $ 426 Transfer to common shares on exercise of options - 27,619

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	9. Fair Value of Financial Instruments The Company uses the fair value measurement framework for valuing financial assets and liabilities measured on a recurring basis in situations where other accounting pronouncements either permit or require fair value measurements. Fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The carrying value of certain financial instruments such as accounts receivable, accounts payable, accrued liabilities, and deferred revenue approximates fair value due to the short-term nature of such instruments. The Company follows the fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. There are three levels of inputs that may be used to measure fair value: Level 1: Quoted prices in active markets for identical or similar assets and liabilities. Level 2: Quoted prices for identical or similar assets and liabilities in markets that are not active or observable inputs other than quoted prices in active markets for identical or similar assets and liabilities. Level 3: Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The Company records its short-term investments in mutual fund debt securities at fair value using Level 1 inputs in the fair value hierarchy. The Company records its warrant liability at fair value using Level 2 inputs using the Black-Scholes option valuation model and assumptions disclosed in Note 7. Fair Value Measurements Using Quoted Prices in Significant Significant Total Fair December 31, 2015 Assets Short-term investments in $ 5,016,800 $ - $ - $ 5,016,800 September 30, 2015 Assets Short-term investments in $ 5,015,171 $ - $ - $ 5,015,171 Liabilities Warrant liability, current portion - 1,550,630 - 1,550,630

Concentrations of Credit Risk

Concentrations of Credit Risk	3 Months Ended
	Dec. 31, 2015
Concentrations of Credit Risk [Abstract]
Concentration Risk Disclosure [Text Block]	10. Concentrations of Credit Risk Credit risk is the risk of an unexpected loss if a customer or third party to a financial instrument fails to meet its contractual obligations. Financial instruments that potentially subject the Company to a concentration of credit risk consist primarily of cash and cash equivalents, mutual fund debt securities and accounts receivable. The Company estimates its maximum credit risk at the amount recorded on the balance sheet. Management’s assessment of the Company’s credit risk for cash and cash equivalents is low as they are held in major financial institutions believed to be credit worthy. The Company limits its exposure to credit loss for short-term investments by using a mutual fund that invests in high-quality, U.S. dollar-denominated short-term fixed-, floating- and variable-rate debt securities that have received either a minimum short-term rating of at least A-1 (or its equivalent) or a minimum long-term rating of A minus (or its equivalent), by one or more Nationally Recognized Statistical Ratings Organizations, or, if unrated, that are deemed by the fund to be of comparable quality at the time of purchase. Based on credit monitoring and history, the Company considers the risk of credit losses due to customer non-performance on accounts receivable to be low. Three Months Ended December 31, December 31, 2015 2014 Product sales and contract services revenue 85% from 71% from The Company had the following concentrations of revenues by geographic areas: Three Months Ended December 31, December 31, 2015 2014 Europe 37 % 54 % Asia 61 % 31 % U.S. 2 % 15 % The Company had the following concentrations of accounts receivable: Three Months Ended Year Ended December 31, September 30, 2015 2015 Accounts receivable 86% from 91% from

Reclassifications

Reclassifications	3 Months Ended
	Dec. 31, 2015
Reclassifications [Abstract]
Disclosure of Reclassification Amount [Text Block]	13. Reclassifications Certain reclassifications have been made to the prior period to conform with the current period’s presentation. These include the Company’s reclassification of a mutual fund investing in short-term debt securities from cash equivalents to short-term investments and reclassification of costs related to aquaculture to present such costs separately from costs of sales and contract services. There was no impact on total assets, total shareholders’ equity, accumulated deficit, total expenses or net income (loss) resulting from these reclassifications. The statement of cash flows reflects the mutual fund activity as cash flows from investing activities rather than changes in cash.

Significant Accounting Polici17

Significant Accounting Policies (Policies)	3 Months Ended
	Dec. 31, 2015
Significant Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606) Other Assets and Deferred Costs: Contracts with Customers In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements - Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern . ASU 2014-15 defines management's responsibility to evaluate whether there is substantial doubt about an organization's ability to continue as a going concern and to provide related footnote disclosures. The guidance in ASU 2014-15 is effective for annual reporting periods beginning after , with early application permitted. Management is in the process of assessing the impact of ASU 2014-15 on the Company’s financial statements. In July 2015, FASB issued ASU 2015-11, Simplifying the Measurement of Inventory (Topic 330)

Inventory (Tables)

Inventory (Tables)	3 Months Ended
	Dec. 31, 2015
Inventory [Abstract]
Schedule of Inventory, Current [Table Text Block]	December 31, September 30, 2015 2015 Raw materials $ 27,523 $ 42,549 Work in process 130,402 137,021 Finished goods 370,033 377,710 $ 527,958 $ 557,280

Property, Plant and Equipment19

Property, Plant and Equipment, net (Tables)	3 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment, net [Abstract]
Property, Plant and Equipment [Table Text Block]	Property, plant and equipment, net consisted of the following: December 31, September 30, 2015 2015 Aquaculture system $ 124,529 $ 124,529 Laboratory facilities 62,033 62,033 Computer and office equipment 78,936 78,936 Tools and equipment 749,394 714,764 Vehicles 10,997 10,997 Leasehold improvements 130,117 123,562 1,156,006 1,114,821 Less: accumulated depreciation (675,878) (643,492) Depreciable assets, net 480,128 471,329 Construction in progress 165,913 32,079 $ 646,041 $ 503,408

Commitments (Tables)

Commitments (Tables)	3 Months Ended
	Dec. 31, 2015
Commitments [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	Future minimum lease payments are as follows: December 31, 2015 For The Year Ending September 30, 2016 $ 108,000 2017 143,000 2018 106,000 2019 106,000 2020 106,000 Thereafter 6,000 $ 575,000

Share Capital (Tables)

Share Capital (Tables)	3 Months Ended
	Dec. 31, 2015
Class of Warrant or Right [Line Items]
Schedule of Stockholders Equity [Table Text Block]	The Company had the following transactions in share capital: Three Months Ended December 31, December 31, 2015 2014 Number of common shares issued 464,000 12,680 Proceeds from exercise of warrants $ 1,368,260 $ 938 Transfer to common shares on exercise of warrants 1,853,581 426 Proceeds from exercise of options - 27,781 Transfer to common shares on exercise of options - 27,619 Share-based compensation 124,496 86,865
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]	A summary of the Company’s warrants activity is as follows: Number of Weighted Balance - September 30, 2015 1,022,761 CDN$12.12 Granted 40,000 CDN$4.00 Exercised (424,000) CDN$4.00 Expired (40,000) CDN$4.00 Balance - December 31, 2015 598,761 $13.33
Schedule Of Warrants Outstanding [Table Text Block]	The following table summarizes information about the outstanding warrants at December 31, 2015: Exercise Price Number of Expiry Date $13.50 470,190 September 9, 2016 $10.50 20,000 September 9, 2016 Broker warrants $13.50 95,238 September 20, 2016 $10.50 13,333 September 20, 2016 Broker warrants 598,761
Schedule of Broker Units, Activity [Table Text Block]	A summary of broker units activity is as follows: Number of Weighted Balance - September 30, 2015 46,600 CDN$2.50 Exercised (40,000) CDN$2.50 Balance - December 31, 2015 6,600 CDN$2.50
Schedule Of Broker Units Outstanding [Table Text Block]	The following table summarizes information about the outstanding broker units at December 31, 2015: Exercise Price Number of Expiry Date CDN$2.50 6,600 January 4, 2016 * 6,600 *Subsequently expired without being exercised.
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	Options have been granted under the Plan allowing the holders to purchase common shares of the Company as follows: Number of Weighted Balance - September 30, 2015 557,638 CDN$6.93 Granted 47,700 $7.24 Expired (6,667) $18.30 Expired (41,501) CDN$5.38 Balance - December 31, 2015 557,170 CDN$7.18
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding [Table Text Block]	The following table summarizes information about the options under the Plan outstanding and exercisable at December 31, 2015: Number of Exercisable at Range of exercise Expiry Dates 292,110 292,110 CDN$0.01 - 5.00 Apr 2017-Dec 2019 146,360 143,027 CDN$5.01 - 10.00 Oct 2017-Jun 2022 47,700 15,900 $5.01 - 10.00 Dec 2022 21,500 17,667 CDN$15.01 - 20.00 Nov 2018-Nov 2021 49,500 49,500 $15.01 - 20.00 Nov 2020 557,170 518,204
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	The estimated fair value of the share options granted during the three months ended December 31, 2015 and 2014 was determined using a Black-Scholes option valuation model with the following weighted average assumptions. Three Months Ended December 31, December 31, 2015 2014 Risk free interest rate 1.05 % 1.71 % Expected life (years) 7 7 Expected share price volatility 108 % 116 % Expected dividend yield 0 % 0 %
Warrants Exercised [Member]
Class of Warrant or Right [Line Items]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]	The fair value of warrants exercised was determined using the Black-Scholes option valuation model, using the following weighted average assumptions: Three Months Ended December 31, December 31, 2015 2014 Risk free interest rate 0.48 % 1.12 % Expected life (years) 0.04 0.01 Expected share price volatility 92 % 97 %
Warrants Granted [Member]
Class of Warrant or Right [Line Items]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]	The fair value of warrants granted was determined using the Black-Scholes option valuation model, using the following weighted average assumptions: Three Months Ended December 31, 2015 Risk free interest rate 0.52 % Expected life (years) 0.01 Expected share price volatility 91 % Expected dividend yield 0 %

Supplemental Disclosure of Ca22

Supplemental Disclosure of Cash Flow and Non-Cash Transactions (Tables)	3 Months Ended
	Dec. 31, 2015
Supplemental Disclosure of Cash Flow and Non-Cash Transactions [Abstract]
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]	Supplemental disclosure of cash flow information follows: Three Months Ended December 31, December 31, 2015 2014 Cash paid during the period for taxes $ 7,200 $ 9,800
Schedule of Other Significant Noncash Transactions [Table Text Block]	Supplemental disclosure of noncash financing and investing activities follows: Three Months Ended December 31, December 31, 2015 2014 Transfer to common shares on exercise of warrants $ 1,853,581 $ 426 Transfer to common shares on exercise of options - 27,619

Fair Value of Financial Instr23

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	The following table summarizes fair values for those assets and liabilities with fair value measured on a recurring basis: Fair Value Measurements Using Quoted Prices in Significant Significant Total Fair December 31, 2015 Assets Short-term investments in $ 5,016,800 $ - $ - $ 5,016,800 September 30, 2015 Assets Short-term investments in $ 5,015,171 $ - $ - $ 5,015,171 Liabilities Warrant liability, current portion - 1,550,630 - 1,550,630

Concentrations of Credit Risk (

Concentrations of Credit Risk (Tables)	3 Months Ended
	Dec. 31, 2015
Concentrations of Credit Risk [Abstract]
Schedules of Concentration of Risk, by Risk Factor [Table Text Block]	The Company had the following concentrations of revenues by customers: Three Months Ended December 31, December 31, 2015 2014 Product sales and contract services revenue 85% from 71% from The Company had the following concentrations of revenues by geographic areas: Three Months Ended December 31, December 31, 2015 2014 Europe 37 % 54 % Asia 61 % 31 % U.S. 2 % 15 % The Company had the following concentrations of accounts receivable: Three Months Ended Year Ended December 31, September 30, 2015 2015 Accounts receivable 86% from 91% from

Nature of Operations (Details T

Nature of Operations (Details Textual) - USD ($)	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Sep. 30, 2015
Nature of Operations [Line Items]
Net Income (Loss) Attributable to Parent	$ (1,629,803)	$ (1,343,477)
Accumulated deficit	(36,965,118)		$ (35,335,315)
Working capital	9,000,000
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net	$ (211,956)	$ 139,556

Inventory (Details)

Inventory (Details) - USD ($)	Dec. 31, 2015	Sep. 30, 2015
Raw materials	$ 27,523	$ 42,549
Work in process	130,402	137,021
Finished goods	370,033	377,710
Inventory	$ 527,958	$ 557,280

Property, Plant and Equipment27

Property, Plant and Equipment, net (Details) - USD ($)	Dec. 31, 2015	Sep. 30, 2015
Property, Plant and Equipment [Line Items]
Depreciable assets, gross	$ 1,156,006	$ 1,114,821
Less: accumulated depreciation	(675,878)	(643,492)
Depreciable assets, net	480,128	471,329
Construction in progress	165,913	32,079
Property, plant and equipment, net	646,041	503,408
Aquaculture system [Member]
Property, Plant and Equipment [Line Items]
Depreciable assets, gross	124,529	124,529
Laboratory facilities [Member]
Property, Plant and Equipment [Line Items]
Depreciable assets, gross	62,033	62,033
Computer and Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Depreciable assets, gross	78,936	78,936
Tools and equipment [Member]
Property, Plant and Equipment [Line Items]
Depreciable assets, gross	749,394	714,764
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Depreciable assets, gross	10,997	10,997
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Depreciable assets, gross	$ 130,117	$ 123,562

Property, Plant and Equipment28

Property, Plant and Equipment, net (Details Textual) - USD ($)	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 32,386	$ 37,535

Commitments (Details)

Commitments (Details)	Dec. 31, 2015USD ($)
For The Year Ending September 30,
2,016	$ 108,000
2,017	143,000
2,018	106,000
2,019	106,000
2,020	106,000
Thereafter	6,000
Future minimum lease payments, total	$ 575,000

Commitments (Details Textual)

Commitments (Details Textual) - USD ($)	1 Months Ended	3 Months Ended		12 Months Ended
	Jun. 30, 2015	Dec. 31, 2015	Dec. 31, 2014	Aug. 31, 2014	Aug. 31, 2013
Other Commitments [Line Items]
Rent expense on lease agreements		$ 55,000	$ 46,000
Director and Officer [Member] | Royalty Agreements [Member]
Other Commitments [Line Items]
Royalty percentage of gross receipts over base amount		5.00%
Gross receipt base amount for royalty calculation		$ 500,000
Licensing Agreements [Member]
Other Commitments [Line Items]
License costs				$ 200,000	$ 25,000
Annual license fee		20,000
Patent cost reimbursement		$ 11,000	11,000
Common shares issued upon execution of licence agreement		37,120
Common shares to be called by warrants		27,840
Aggregate milestone payments upon achievement of financing and development targets		$ 6,020,000
Contingent milestone payments due upon achievement of sales target		$ 57,025,000
Milestone payment				$ 100,000
Collaborative Agreement [Member] | A Taiwan Biopharmaceuticals Manufacturer and a Beneficial Owner [Member]
Other Commitments [Line Items]
Ownership percentage		5.00%
401(k) Retirement Savings Plan [Member]
Other Commitments [Line Items]
Employer contributions		$ 17,000	$ 20,000
Employee vesting percentage		100.00%
Annual non-elective safe harbor employer contribution		3.00%
Agreements With Contract Manufacturing Organizations And Consultants [Member]
Other Commitments [Line Items]
Purchase obligations		$ 364,000
Agreements To Pay Time And Materials To Contractors [Member]
Other Commitments [Line Items]
Purchase obligations		$ 13,000
Three buildings and facilities used in its operations [Member]
Other Commitments [Line Items]
Lease agreement, contract term		5 years
Lease agreement, renewal term		5 years
Facilities used for executive offices and laboratories [Member]
Other Commitments [Line Items]
Lease agreement, renewal term		2 years
Undeveloped land in Baja, Mexico
Other Commitments [Line Items]
Lease agreement, contract term		3 years
Rent prepaid in June 2015	$ 74,606

Share Capital (Details)

Share Capital (Details) - USD ($)	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Class of Warrant or Right [Line Items]
Number of common shares issued	464,000	12,680
Proceeds from exercise of warrants	$ 1,368,260	$ 938
Transfer to common shares on exercise of warrants	1,853,581	426
Proceeds from exercise of options	0	27,781
Transfer to common shares on exercise of options	0	27,619
Share-based compensation	$ 124,496	$ 86,865

Share Capital (Details 1)

Share Capital (Details 1)	3 Months Ended
	Dec. 31, 2015$ / sharesshares	Dec. 31, 2015CAD / sharesshares
Class of Warrant or Right [Line Items]
Number of Warrants, Beginning Balance	1,022,761	1,022,761
Number of Warrants, Granted	40,000	40,000
Number of Warrants, Exercised	(424,000)	(424,000)
Number of Warrants, Expired	(40,000)	(40,000)
Number of Warrants, Ending Balance	598,761	598,761
Weighted Average Exercise Price, Beginning Balance | CAD / shares		CAD 12.12
Weighted Average Exercise Price, Granted | CAD / shares		4
Weighted Average Exercise Price, Exercised | CAD / shares		4
Weighted Average Exercise Price, Expired | CAD / shares		CAD 4
Weighted Average Exercise Price, Ending Balance | $ / shares	$ 13.33

Share Capital (Details 2)

Share Capital (Details 2)	3 Months Ended
	Dec. 31, 2015$ / sharesshares	Sep. 30, 2015CAD / sharesshares
Class of Warrant or Right [Line Items]
Exercise Price | (per share)	$ 13.33	CAD 12.12
Number of Warrants	598,761	1,022,761
Warrant One [Member]
Class of Warrant or Right [Line Items]
Exercise Price | $ / shares	$ 13.50
Number of Warrants	470,190
Expiry Date	Sep. 9, 2016
Warrant Two [Member]
Class of Warrant or Right [Line Items]
Exercise Price | $ / shares	$ 10.50
Warrant Three [Member]
Class of Warrant or Right [Line Items]
Exercise Price | $ / shares	$ 13.50
Number of Warrants	95,238
Expiry Date	Sep. 20, 2016
Warrant Four [Member]
Class of Warrant or Right [Line Items]
Exercise Price | $ / shares	$ 10.50
Broker warrants [Member] | Warrant Two [Member]
Class of Warrant or Right [Line Items]
Number of Warrants	20,000
Expiry Date	Sep. 9, 2016
Broker warrants [Member] | Warrant Four [Member]
Class of Warrant or Right [Line Items]
Number of Warrants	13,333
Expiry Date	Sep. 20, 2016

Share Capital (Details 3)

Share Capital (Details 3) - Warrants Exercised [Member]	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Class of Warrant or Right [Line Items]
Risk free interest rate	0.48%	1.12%
Expected life (years)	14 days	4 days
Expected share price volatility	92.00%	97.00%

Share Capital (Details 4)

Share Capital (Details 4) - Warrants Granted [Member]	3 Months Ended
	Dec. 31, 2015
Class of Warrant or Right [Line Items]
Risk free interest rate	0.52%
Expected life (years)	4 days
Expected share price volatility	91.00%
Expected dividend yield	0.00%

Share Capital (Details 5)

Share Capital (Details 5)	3 Months Ended
	Dec. 31, 2015CAD / sharesshares
Class of Stock [Line Items]
Number of units, Beginning Balance | shares	46,600
Number of units, Exercised | shares	(40,000)
Number of units, Ending Balance | shares	6,600
Weighted average exercise price, Beginning Balance | CAD / shares	CAD 2.50
Weighted average exercise price, Exercised | CAD / shares	2.50
Weighted average exercise price, Ending Balance | CAD / shares	CAD 2.50

Share Capital (Details 6)

Share Capital (Details 6) - CAD / shares		3 Months Ended
		Dec. 31, 2015	Sep. 30, 2015
Class of Warrant or Right [Line Items]
Number of Units		6,600	46,600
Broker Unit One [Member]
Class of Warrant or Right [Line Items]
Exercise Price		CAD 2.50
Number of Units		6,600
Expiry Date	[1]	Jan. 4, 2016
[1]	Subsequently expired without being exercised.

Share Capital (Details 7)

Share Capital (Details 7)	3 Months Ended
	Dec. 31, 2015$ / sharesshares	Dec. 31, 2015CAD / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options, Ending Balance	557,170	557,170
2013 Fixed Stock Option Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options, Beginning Balance	557,638	557,638
Number of Options, Granted	47,700	47,700
Number of Options, Expired	(41,501)	(41,501)
Number of Options, Expired	(6,667)	(6,667)
Number of Options, Ending Balance	557,170	557,170
Weighted Average Exercise Price, Beginning Balance | CAD / shares		CAD 6.93
Weighted Average Exercise Price, Granted | $ / shares	$ 7.24
Weighted Average Exercise Price, Expired | (per share)	$ 18.30	5.38
Weighted Average Exercise Price, Ending Balance | CAD / shares		CAD 7.18

Share Capital (Details 8)

Share Capital (Details 8) - 3 months ended Dec. 31, 2015	$ / sharesshares	CAD / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options	557,170	557,170
Exercisable at December 31, 2015	518,204	518,204
Stock Option One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options	292,110	292,110
Exercisable at December 31, 2015	292,110	292,110
Exercise Price Range, Lower Range Limit | CAD / shares		CAD 0.01
Exercise Price Range, Upper Range Limit | CAD / shares		CAD 5
Expiry Date, Start	2017-04	2017-04
Expiry Date, End	2019-12	2019-12
Stock Option Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options	146,360	146,360
Exercisable at December 31, 2015	143,027	143,027
Exercise Price Range, Lower Range Limit | CAD / shares		CAD 5.01
Exercise Price Range, Upper Range Limit | CAD / shares		CAD 10
Expiry Date, Start	2017-10	2017-10
Expiry Date, End	2022-06	2022-06
Stock Option Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options	47,700	47,700
Exercisable at December 31, 2015	15,900	15,900
Exercise Price Range, Lower Range Limit | $ / shares	$ 5.01
Exercise Price Range, Upper Range Limit | $ / shares	$ 10
Expiry Date, End	2022-12	2022-12
Stock Option Four [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options	21,500	21,500
Exercisable at December 31, 2015	17,667	17,667
Exercise Price Range, Lower Range Limit | CAD / shares		CAD 15.01
Exercise Price Range, Upper Range Limit | CAD / shares		CAD 20
Expiry Date, Start	2018-11	2018-11
Expiry Date, End	2021-11	2021-11
Stock Option Five [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options	49,500	49,500
Exercisable at December 31, 2015	49,500	49,500
Exercise Price Range, Lower Range Limit | $ / shares	$ 15.01
Exercise Price Range, Upper Range Limit | $ / shares	$ 20
Expiry Date, End	2020-11	2020-11

Share Capital (Details 9)

Share Capital (Details 9) - Employee Stock Option [Member]	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk free interest rate	1.05%	1.71%
Expected life (years)	7 years	7 years
Expected share price volatility	108.00%	116.00%
Expected dividend yield	0.00%	0.00%

Share Capital (Details Textual)

Share Capital (Details Textual)	3 Months Ended
	Dec. 31, 2015USD ($)CAD / sharesshares	Dec. 31, 2014CADCAD / shares	Sep. 30, 2015shares	Aug. 31, 2012shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares, shares outstanding	8,448,758		7,984,758
Stock split, description	As a result of the reverse split, every ten shares of the issued and outstanding common shares, without par value, consolidated into one newly-issued outstanding common share, without par value. Each fractional share remaining after the reverse split that was less than one-half of a share was cancelled and each fractional share that was at least one-half of a share was changed to one whole share.
Weighted average contractual life remaining on the outstanding options	3 years 2 months 12 days
Weighted average fair value of share options awarded | CAD / shares	CAD 9.42	CAD 13.43
Unrecognized share-based compensation expense | $	CAD 219,000
Unrecognized share-based compensation expense, recognition period	1 year 6 months
Intrinsic value of the options exercised | CAD		CAD 11.50
Intrinsic value of the vested options | $	CAD 3.89
Warrant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average contractual life remaining on the outstanding warrants or broker units	8 months 12 days
Broker units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average contractual life remaining on the outstanding warrants or broker units	4 days
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation, shares reserved for issuance				1,000,000
Share based compensation, shares outstanding	383,838
Employee Share Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation, shares reserved for issuance	1,000,000
Share based compensation, share option vesting schedule	Share options granted to directors, officers, employees and consultants are subject to the following vesting schedule: (a) One-third shall vest immediately; (b) One-third shall vest 12 months from the date of grant; and (c) One-third shall vest 18 months from the date of grant. Share options granted to investor relations consultants vest over a period of not less than 12 months as to 25% on the date that is three months from the date of grant, and a further 25% on each successive date that is three months from the date of the prior vesting.
Before Reverse Split Adjustment [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares, shares outstanding	79,847,550

Supplemental Disclosure of Ca42

Supplemental Disclosure of Cash Flow and Non-Cash Transactions (Details) - USD ($)	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Noncash or Part Noncash Acquisitions [Line Items]
Cash paid during the period for taxes	$ 7,200	$ 9,800

Supplemental Disclosure of Ca43

Supplemental Disclosure of Cash Flow and Non-Cash Transactions (Details 1) - USD ($)	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Noncash or Part Noncash Acquisitions [Line Items]
Transfer to common shares on exercise of warrants	$ 1,853,581	$ 426
Transfer to common shares on exercise of options	$ 0	$ 27,619

Fair Value of Financial Instr44

Fair Value of Financial Instruments (Details) - USD ($)	Dec. 31, 2015	Sep. 30, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, Fair Value Disclosure, Total	$ 5,016,800	$ 5,015,171
Embedded Derivative, Fair Value of Embedded Derivative Liability, Current	0	1,550,630
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, Fair Value Disclosure, Total	5,016,800	5,015,171
Embedded Derivative, Fair Value of Embedded Derivative Liability, Current		0
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, Fair Value Disclosure, Total	0	0
Embedded Derivative, Fair Value of Embedded Derivative Liability, Current		1,550,630
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, Fair Value Disclosure, Total	$ 0	0
Embedded Derivative, Fair Value of Embedded Derivative Liability, Current		$ 0

Concentrations of Credit Risk45

Concentrations of Credit Risk (Details)	3 Months Ended		12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Sep. 30, 2015
Product sales and contract services revenue [Member] | Three Customers [Member]
Concentration Risk [Line Items]
Concentration risk percentage	85.00%
Customer Concentration Risk [Member] | Product sales and contract services revenue [Member] | Two Customers [Member]
Concentration Risk [Line Items]
Concentration risk percentage		71.00%
Customer Concentration Risk [Member] | Accounts receivable [Member] | Two Customers [Member]
Concentration Risk [Line Items]
Concentration risk percentage	86.00%		91.00%
Geographic Concentration Risk [Member] | Revenue [Member] | Europe [Member]
Concentration Risk [Line Items]
Concentration risk percentage	37.00%	54.00%
Geographic Concentration Risk [Member] | Revenue [Member] | Asia [Member]
Concentration Risk [Line Items]
Concentration risk percentage	61.00%	31.00%
Geographic Concentration Risk [Member] | Revenue [Member] | U.S. [Member]
Concentration Risk [Line Items]
Concentration risk percentage	2.00%	15.00%