Edesa Biotech (EDSA) 10-Q 9 May 17 2017 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Mar. 31, 2017	May 09, 2017
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Entity Registrant Name	Stellar Biotechnologies, Inc.
Entity Central Index Key	1,540,159
Current Fiscal Year End Date	--09-30
Entity Filer Category	Non-accelerated Filer
Trading Symbol	SBOT
Entity Common Stock, Shares Outstanding		10,136,258

Condensed Interim Consolidated

Condensed Interim Consolidated Balance Sheets - USD ($)	Mar. 31, 2017	Sep. 30, 2016
Current assets:
Cash and cash equivalents	$ 4,601,222	$ 7,416,904
Accounts receivable	65,881	85,813
Short-term investments	3,994,364	3,988,794
Inventory	310,574	249,430
Prepaid expenses	376,643	358,714
Total current assets	9,348,684	12,099,655
Noncurrent assets:
Equity investment in joint venture	66,695	66,695
Property, plant and equipment, net	792,270	756,114
Deposits	15,340	15,340
Total noncurrent assets	874,305	838,149
Total Assets	10,222,989	12,937,804
Current liabilities:
Accounts payable and accrued liabilities	433,384	623,644
Total Current Liabilities	433,384	623,644
Commitments (Note 7)
Shareholders' equity:
Common shares, unlimited common shares authorized, no par value, 10,136,258 issued and outstanding at March 31, 2017 and September 30, 2016	47,280,792	47,280,792
Accumulated share-based compensation	5,459,557	5,394,763
Accumulated deficit	(42,950,744)	(40,361,395)
Total Shareholders' Equity	9,789,605	12,314,160
Total Liabilities and Shareholders' Equity	$ 10,222,989	$ 12,937,804

Condensed Interim Consolidated3

Condensed Interim Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2017	Sep. 30, 2016
Common shares, par value	$ 0	$ 0
Common shares, shares issued	10,136,258	10,136,258
Common shares, shares outstanding	10,136,258	10,136,258

Condensed Interim Consolidated4

Condensed Interim Consolidated Statements of Operations - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Revenues:
Product sales	$ 13,019	$ 326,335	$ 154,875	$ 782,495
Contract services revenue	50,000	0	50,000	32,000
Revenues	63,019	326,335	204,875	814,495
Expenses:
Costs of sales and contract services	71,443	268,901	150,008	580,964
Costs of aquaculture	63,402	79,249	148,237	164,162
Research and development	329,371	309,062	790,236	597,911
General and administrative	746,360	765,066	1,678,427	1,874,755
Total Expenses	1,210,576	1,422,278	2,766,908	3,217,792
Loss from Operations	(1,147,557)	(1,095,943)	(2,562,033)	(2,403,297)
Other Income (Loss)
Foreign exchange gain (loss)	35,227	226,764	(42,163)	117,636
Loss in fair value of warrant liability	0	0	0	(211,956)
Investment income	8,653	8,169	15,647	14,004
Other Income (Loss), Total	43,880	234,933	(26,516)	(80,316)
Loss Before Income Tax	(1,103,677)	(861,010)	(2,588,549)	(2,483,613)
Income tax expense	0	0	800	7,200
Net Loss	$ (1,103,677)	$ (861,010)	$ (2,589,349)	$ (2,490,813)
Loss per common share:
Basic and diluted	$ (0.11)	$ (0.10)	$ (0.26)	$ (0.30)
Weighted average number of common shares outstanding:
Basic and diluted	10,136,258	8,448,758	10,136,258	8,410,835

Condensed Interim Consolidated5

Condensed Interim Consolidated Statements of Cash Flows - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Cash Flows Used In Operating Activities:
Net loss	$ (1,103,677)	$ (861,010)	$ (2,589,349)	$ (2,490,813)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization			90,720	68,732
Share-based compensation			64,794	167,329
Foreign exchange (gain) loss	(35,227)	(226,764)	42,163	(117,636)
Loss in fair value of warrant liability	0	0	0	211,956
Changes in working capital items:
Accounts receivable			19,899	147,209
Inventory			(61,144)	13,817
Prepaid expenses			(18,053)	(34,907)
Deposits			0	560
Accounts payable and accrued liabilities			(190,227)	(213,773)
Net cash used in operating activities			(2,641,197)	(2,247,526)
Cash Flows From Investing Activities:
Acquisition of property, plant and equipment			(126,876)	(263,242)
Purchase of short-term investments			(2,005,570)	(2,005,818)
Proceeds on sales and maturities of short-term investments			2,000,000	5,021,827
Net cash provided by (used in) investing activities			(132,446)	2,752,767
Cash Flows From Financing Activities:
Proceeds from exercise of warrants and options			0	1,368,260
Net cash provided by financing activities			0	1,368,260
Effect of exchange rate changes on cash and cash equivalents			(42,039)	132,723
Net change in cash and cash equivalents			(2,815,682)	2,006,224
Cash and cash equivalents - beginning of period			7,416,904	3,955,503
Cash and cash equivalents - end of period	4,601,222	5,961,727	4,601,222	5,961,727
Cash (demand deposits)	850,224	5,961,727	850,224	5,961,727
Cash equivalents	3,750,998	0	3,750,998	0
Cash and cash equivalents	$ 4,601,222	$ 5,961,727	$ 4,601,222	$ 5,961,727

Nature of Operations

Nature of Operations	6 Months Ended
	Mar. 31, 2017
Nature of Operations [Abstract]
Nature of Operations [Text Block]	1. Nature of Operations Stellar Biotechnologies, Inc. (the “Company”) is organized under the laws of British Columbia, Canada. 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, Asia, and the United States. The Company’s common shares have been listed for trading on The Nasdaq Capital Market in the United States under the symbol “SBOT” since November 5, 2015. From January 15, 2013 through November 4, 2015, the Company’s common shares were quoted in the United States on the U.S. OTCQB Marketplace Exchange under the symbol “SBOTF.” From April 19, 2010 to April 8, 2016 the Company’s common shares were listed in Canada on the TSX Venture Exchange as a Tier 2 issue under the trading symbol “KLH.” In April 2010, the Company changed its name from CAG Capital, Inc. 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. In January 2017, the California subsidiary and the Company established a wholly owned Mexican subsidiary under the name BioEstelar, S.A. de C.V. in Ensenada, Baja California to perform aquaculture research and development activities in Mexico. 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. Management Plans For the six months ended March 31, 2017 and 2016, the Company reported net losses of approximately $ 2.6 2.5 43 8.9 In the past, operations of the Company have primarily been funded by the issuance of common shares, exercise of warrants, grant revenues, contract services revenues and product sales. Management believes the Company’s working capital is sufficient to support the Company’s current 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, as well as 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.

Basis of Presentation

Basis of Presentation	6 Months Ended
	Mar. 31, 2017
Basis of Presentation [Abstract]
Basis of Accounting [Text Block]	2. 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, 2016. The accompanying condensed interim consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries, Stellar Biotechnologies, Inc., a California corporation in the U.S. and BioEstelar, S.A. de C.V. a Baja California corporation in Mexico. 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 six months ended March 31, 2017 are not necessarily indicative of the results that may be expected for other interim periods or the year ending September 30, 2017. The condensed interim consolidated financial data at September 30, 2016 is derived from audited financial statements included in the Company’s Annual Report on Form 10-K for the year ended September 30, 2016, as filed on December 14, 2016 with the SEC. The preparation of financial statements in conformity with U.S. GAAP for interim financial information 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. 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.

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Mar. 31, 2017
Significant Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	3. 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 within those years Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing ASU 2016-11, Revenue Recognition (Topic 605) and Derivatives and Hedging (Topic 815): Rescission of SEC Guidance Because of Accounting Standards Updates 2014-09 and 2014-16 Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients Technical Corrections and Improvements to Topic 606, Revenue from 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 provides guidance on determining 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 ending after , including interim periods within those years with early application permitted. . In July 2015, FASB issued ASU 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory within those years In January 2016, the FASB issued ASU 2016-01, Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities ASU 2016-01 The guidance is effective for public entities for fiscal years beginning after December 15, 2017, including interim periods within those years, with early adoption permitted. These standards are effective for the Company during the fiscal year ending September 30, 2019. . In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) . In March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting . The amended guidance is effective for public entities for fiscal years beginning after December 15, 2016, including interim periods within those years, with early adoption permitted. . In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments .

Investments

Investments	6 Months Ended
	Mar. 31, 2017
Investments [Abstract]
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	4. Investments Short-term investments consisted of the following: March 31, September 30, 2017 2016 U.S. Treasury Bills $ 3,994,364 $ 3,988,794 U.S. Treasury Bills are carried at amortized cost which approximates fair value and are classified as held-to-maturity investments.

Inventory

Inventory	6 Months Ended
	Mar. 31, 2017
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 March 31, 2017 and September 30, 2016, the Company recorded work in process and finished goods inventory only for those products with recent sales levels to evaluate net realizable value. March 31, September 30, 2017 2016 Raw materials $ 36,277 $ 38,764 Work in process 20,417 43,498 Finished goods 253,880 167,168 $ 310,574 $ 249,430

Property, Plant and Equipment,

Property, Plant and Equipment, net	6 Months Ended
	Mar. 31, 2017
Property, Plant and Equipment, net [Abstract]
Property, Plant and Equipment Disclosure [Text Block]	6. Property, Plant and Equipment, net March 31, September 30, 2017 2016 Aquaculture system $ 126,257 $ 126,257 Laboratory facilities 62,033 62,033 Computer and office equipment 110,344 102,030 Tools and equipment 920,333 894,319 Vehicles 49,347 49,347 Leasehold improvements 298,295 282,305 1,566,609 1,516,291 Less: accumulated depreciation (879,783) (793,057) Depreciable assets, net 686,826 723,234 Construction in progress 105,444 32,880 $ 792,270 $ 756,114 Depreciation and amortization expense amounted to $ 90,720 68,732

Commitments

Commitments	6 Months Ended
	Mar. 31, 2017
Commitments [Abstract]
Commitments and Contingencies Disclosure [Text Block]	7. Commitments Operating leases The Company leases buildings and facilities used in its operations under three 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 and pays a portion of the common area maintenance. In July 2016, the Company extended this lease for a two-year term, with options to renew for three successive two-year terms. 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 totaling $ 74,606 For The Year Ending September 30, 2017 $ 97,000 2018 188,000 2019 106,000 2020 106,000 2021 6,000 $ 503,000 Rent expense on these lease agreements amounted to approximately $ 119,000 116,000 Purchase obligations The Company has commitments totaling approximately $ 235,000 27,000 Supply agreements The Company has commitments under supply agreements with customers for fixed prices per gram of KLH in connection with clinical trials on a non-exclusive basis except within that customer’s field of use. The expiration dates of these supply agreements range from October 2019 to February 2022, and are generally renewable upon written request of the customer. Joint venture agreement In May 2016, the Company entered into a joint venture agreement with another party for the formation of a joint venture company to manufacture and sell conjugated therapeutic vaccines. The joint venture is organized as a French simplified corporation. The Company holds a 30 120,000 67,000 In connection with the formation of the joint venture and the execution of its strategy, the parties intend over time to enter into an exclusive supply agreement within a limited field of use for Stellar to supply KLH to the joint venture, a supply agreement designating the joint venture as the exclusive manufacturer and supplier of the other party’s vaccines, and services agreements for the provision of various knowledge and expertise by each of the parties. The joint venture has an initial ten-year term, renewable for successive five-year terms. If either party provides notice at least six months prior to the expiration date of an applicable term that it does not wish to continue the joint venture transaction, the other party will have a right to acquire all of such terminating party’s equity interests in the joint venture. The joint venture agreement contains customary restrictions on transfer of the equity interests, tag-along and drag-along rights, non-competition, non-solicitation, confidentiality and termination provisions. Licensing agreement and technology transfer agreement In July 2013, pursuant to a written agreement (the “License Agreement”) with a University (the “Licensor”) 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 12,000 11,000 The License Agreement provided for the Company to pay milestone payments to the Licensor upon achievement of various financing, development and sales targets. A financing milestone was met during the year ended August 31, 2014, and the Company made a milestone payment of $ 100,000 In March 2017, (i) the Company entered into an agreement to terminate the License Agreement, (ii) the Company concurrently entered into a technology transfer and purchase agreement (the “Transfer Agreement”) with a vaccine biotechnology company (the “Transferee”), and (iii) the Licensor and Transferee entered into a direct licensing arrangement relating to the patented C. diff technology. Under the Transfer Agreement, the Company transferred to the Transferee its proprietary rights and know-how of immunogens and vaccine technology for C. diff, in exchange for an upfront payment and a percentage of future fees, milestone payments, sublicensing income and royalties, if any, paid by the Transferee or its assigns to the Licensor. As a result of the termination of the License Agreement, there are no early termination penalties and no further annual licensing fees, contingent milestone payments, royalties or other financial obligations payable by the Company to the Licensor. 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 32,000 Related party commitments Patent r 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 accordance with its terms 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 (Adagloxad Simolenin) 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™, which was executed in February 2017. A member of the Company’s Board of Directors currently serves as the manufacturer’s general manager and chair of its board of directors.

Share Capital

Share Capital	6 Months Ended
	Mar. 31, 2017
Share Capital [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	8. Share Capital Six Months Ended March 31, March 31, 2017 2016 Number of common shares issued - 464,000 Proceeds from exercise of warrants $ - $ 1,368,260 Transfer to common shares on exercise of warrants - 1,853,581 Share-based compensation 64,794 167,329 Performance shares There were 1,000,000 At March 31, 2017, 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 $ 9.04 Granted 1,265,626 4.50 Granted 40,000 4.00 CDN $ Exercised (424,000) 4.00 CDN $ Expired (598,761) 13.33 Expired (40,000) 4.00 CDN $ Balance - September 30, 2016 and March 31, 2017 1,265,626 $ 4.50 There were no outstanding warrants with exercise prices denominated in Canadian dollars at March 31, 2017. The weighted average contractual life remaining on the outstanding warrants at March 31, 2017 is 57 months. Exercise Price Number of Expiry Date $ 4.50 1,265,626 January 6, 2022 1,265,626 Warrant liability All warrants with exercise prices denominated in Canadian dollars were exercised or have expired. Therefore, there was no outstanding warrant liability at March 31, 2017. 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, those warrants met the definition of derivatives and were therefore classified as derivative liabilities measured at fair value with adjustments to fair value recognized through the consolidated statements of operations. The fair value of those warrants was determined using the Black-Scholes option valuation model at the end of each reporting period. On the date those warrants were exercised, the fair value of warrant liability was reclassified to common shares along with the proceeds from the exercise. If those warrants expired, the related decrease in warrant liability was recognized in profit or loss, as part of the change in fair value of warrant liability. There was no cash flow impact as a result of this accounting treatment. Six Months Ended March 31, 2016 Risk free interest rate 0.48 % Expected life (years) 0.04 Expected share price volatility 92 % There were no warrants exercised during the six months ended March 31, 2017. Six Months Ended March 31, 2016 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 six months ended March 31, 2017. Broker units The Company granted broker units as finders’ fees in conjunction with equity offerings in prior years. Broker units were fully vested when granted and allowed the holders to purchase equity units. A unit consisted of one common share and either one whole warrant or one half warrant. Weighted Number of Average Units Exercise Price Balance - September 30, 2015 46,600 $ 1.87 Exercised (40,000) 2.50 CDN $ Expired (6,600) 2.50 CDN $ Balance - September 30, 2016 and March 31, 2017 - $ - There were no broker units granted or exercised during the six months ended March 31, 2017 and 2016. Options The Company has an incentive compensation plan adopted in 2017 (the “Plan”) administered by the Board of Directors, which amended and restated the 2013 fixed share option plan (the “2013 Plan”). Options, restricted shares and restricted share units are eligible for grants under the Plan. The number of shares available for issuance under the Plan is 1,597,000, including shares available for the exercise of outstanding options under the 2013 Plan. No restricted shares or restricted share units have been granted as of March 31, 2017. The exercise price of an option is set at the closing price of the Company’s common shares on the date of grant. Share options granted to directors, officers, employees and certain individual consultants for past service are subject to the following vesting schedule: (a) one-third shall vest immediately, (b) one-third shall vest at 12 months from the date of grant and (c) one-third shall vest at 18 months from the date of grant. Share options granted to directors, officers, employees and certain individual consultants for future service are subject to the following vesting schedule: (x) one-third shall vest at 12 months from the date of grant, (y) one-third shall vest at 24 months from the date of grant and (z) one-third shall vest at 36 months from the date of grant. Share options granted to certain individual investor relations consultants are subject to the following vesting schedule: (aa) 25% shall vest at 3 months from the date of grant, (bb) 25% shall vest at 6 months from the date of grant, (cc) 25% shall vest at 12 months from the date of grant and (dd) 25% shall vest at 15 months from the date of grant. Number of Options Weighted Balance - September 30, 2015 557,638 $ 5.17 Granted 56,300 6.47 Expired (21,334) 10.70 Expired (53,501) 5.22 CDN $ Balance - September 30, 2016 539,103 $ 5.29 Granted 71,600 1.89 Expired (18,233) 7.16 Expired (1,000) 9.40 CDN $ Balance - March 31, 2017 591,470 $ 4.77 The weighted average contractual life remaining on the outstanding options is 2.43 The following table summarizes information about the options under the Plan outstanding and exercisable at March 31, 2017: Number of Exercisable at Range of exercise Options March 31, 2017 prices Expiry Dates 283,610 283,610 CDN$0.01 - 5.00 Apr 2017-Dec 2019 79,900 14,967 $0.01 - 5.00 Sep 2023-Mar 2024 141,860 141,860 CDN$5.01 - 10.00 Oct 2017-Jun 2022 15,100 10,067 $5.01 - 10.00 Dec 2022 21,500 21,500 CDN$15.01 - 20.00 Nov 2018-Nov 2021 49,500 49,500 $15.01 - 20.00 Nov 2020 591,470 521,504 Six Months Ended March 31, March 31, 2017 2016 Risk free interest rate 1.44 % 1.05 % Expected life (years) 7.00 7.00 Expected share price volatility 166 % 108 % Expected dividend yield 0 % 0 % The weighted average fair value of share options awarded during the six months ended March 31, 2017 and 2016 was $ 1.84 6.75 As of March 31, 2017, the Company had approximately $ 107,000 3 There were no options exercised during the six months ended March 31, 2017 and 2016. There was no intrinsic value of the vested options at March 31, 2017.

Supplemental Disclosure of Cash

Supplemental Disclosure of Cash Flow and Non-Cash Transactions	6 Months Ended
	Mar. 31, 2017
Supplemental Disclosure of Cash Flow and Non-Cash Transactions [Abstract]
Cash Flow, Supplemental Disclosures [Text Block]	9. Supplemental Disclosure of Cash Flow and Non-Cash Transactions Supplemental disclosure of cash flow information follows: Six Months Ended March 31, March 31, 2017 2016 Cash paid during the period for taxes $ 800 $ 7,200 Supplemental disclosure of noncash financing and investing activities follows: Six Months Ended March 31, March 31, 2017 2016 Transfer to common shares on exercise of warrants $ - $ 1,853,581

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	10. 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. Short-term investments in U.S. Treasury Bills are recorded at amortized cost, which approximates fair value. 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 reports its short-term investments in U.S. Treasury Bills at fair value using Level 1 inputs in the fair value hierarchy. Fair Value Measurements Using Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Instruments Inputs Inputs (Level 1) (Level 2) (Level 3) Total Fair Value March 31, 2017 Assets Short-term investments in U.S. Treasury Bills $ 3,994,364 $ - $ - $ 3,994,364 September 30, 2016 Assets Short-term investments in U.S. Treasury Bills $ 3,988,794 $ - $ - $ 3,988,794

Concentrations of Credit Risk

Concentrations of Credit Risk	6 Months Ended
	Mar. 31, 2017
Concentrations of Credit Risk [Abstract]
Concentration Risk Disclosure [Text Block]	11. 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, U.S Treasury Bills, 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 or U.S. Treasury Bills with maturities of 90 days or less. The Company limits its exposure to credit loss for short-term investments by holding U.S. Treasury Bills with maturities Six Months Ended March 31, March 31, 2017 2016 Product sales and contract services revenue 88% from 90% from The Company had the following concentrations of revenues by geographic areas: Six Months Ended March 31, March 31, 2017 2016 Europe 71 % 45 % U.S. 29 % 16 % Asia - 39 % The Company had the following concentrations of accounts receivable: March 31, September 30, 2017 2016 Accounts receivable 76% from 100% from

Significant Accounting Polici17

Significant Accounting Policies (Policies)	6 Months Ended
	Mar. 31, 2017
Significant Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	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 within those years Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing ASU 2016-11, Revenue Recognition (Topic 605) and Derivatives and Hedging (Topic 815): Rescission of SEC Guidance Because of Accounting Standards Updates 2014-09 and 2014-16 Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients Technical Corrections and Improvements to Topic 606, Revenue from 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 provides guidance on determining 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 ending after , including interim periods within those years with early application permitted. . In July 2015, FASB issued ASU 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory within those years In January 2016, the FASB issued ASU 2016-01, Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities ASU 2016-01 The guidance is effective for public entities for fiscal years beginning after December 15, 2017, including interim periods within those years, with early adoption permitted. These standards are effective for the Company during the fiscal year ending September 30, 2019. . In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) . In March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting . The amended guidance is effective for public entities for fiscal years beginning after December 15, 2016, including interim periods within those years, with early adoption permitted. . In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments .

Investments (Tables)

Investments (Tables)	6 Months Ended
	Mar. 31, 2017
Investments [Abstract]
Schedule Of Short Term Investments [Table Text Block]	Short-term investments consisted of the following: March 31, September 30, 2017 2016 U.S. Treasury Bills $ 3,994,364 $ 3,988,794

Inventory (Tables)

Inventory (Tables)	6 Months Ended
	Mar. 31, 2017
Inventory [Abstract]
Schedule of Inventory, Current [Table Text Block]	Inventory consisted of the following: March 31, September 30, 2017 2016 Raw materials $ 36,277 $ 38,764 Work in process 20,417 43,498 Finished goods 253,880 167,168 $ 310,574 $ 249,430

Property, Plant and Equipment20

Property, Plant and Equipment, net (Tables)	6 Months Ended
	Mar. 31, 2017
Property, Plant and Equipment, net [Abstract]
Property, Plant and Equipment [Table Text Block]	Property, plant and equipment, net consisted of the following: March 31, September 30, 2017 2016 Aquaculture system $ 126,257 $ 126,257 Laboratory facilities 62,033 62,033 Computer and office equipment 110,344 102,030 Tools and equipment 920,333 894,319 Vehicles 49,347 49,347 Leasehold improvements 298,295 282,305 1,566,609 1,516,291 Less: accumulated depreciation (879,783) (793,057) Depreciable assets, net 686,826 723,234 Construction in progress 105,444 32,880 $ 792,270 $ 756,114

Commitments (Tables)

Commitments (Tables)	6 Months Ended
	Mar. 31, 2017
Commitments [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	Aggregate future minimum lease payments at March 31, 2017 are as follows: For The Year Ending September 30, 2017 $ 97,000 2018 188,000 2019 106,000 2020 106,000 2021 6,000 $ 503,000

Share Capital (Tables)

Share Capital (Tables)	6 Months Ended
	Mar. 31, 2017
Class of Warrant or Right [Line Items]
Schedule of Stockholders Equity [Table Text Block]	The Company had the following transactions in share capital: Six Months Ended March 31, March 31, 2017 2016 Number of common shares issued - 464,000 Proceeds from exercise of warrants $ - $ 1,368,260 Transfer to common shares on exercise of warrants - 1,853,581 Share-based compensation 64,794 167,329
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 $ 9.04 Granted 1,265,626 4.50 Granted 40,000 4.00 CDN $ Exercised (424,000) 4.00 CDN $ Expired (598,761) 13.33 Expired (40,000) 4.00 CDN $ Balance - September 30, 2016 and March 31, 2017 1,265,626 $ 4.50
Schedule Of Warrants Outstanding [Table Text Block]	The following table summarizes information about the warrants outstanding at March 31, 2017: Exercise Price Number of Expiry Date $ 4.50 1,265,626 January 6, 2022 1,265,626
Schedule of Broker Units, Activity [Table Text Block]	A summary of broker units activity is as follows: Weighted Number of Average Units Exercise Price Balance - September 30, 2015 46,600 $ 1.87 Exercised (40,000) 2.50 CDN $ Expired (6,600) 2.50 CDN $ Balance - September 30, 2016 and March 31, 2017 - $ -
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 Options Weighted Balance - September 30, 2015 557,638 $ 5.17 Granted 56,300 6.47 Expired (21,334) 10.70 Expired (53,501) 5.22 CDN $ Balance - September 30, 2016 539,103 $ 5.29 Granted 71,600 1.89 Expired (18,233) 7.16 Expired (1,000) 9.40 CDN $ Balance - March 31, 2017 591,470 $ 4.77
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding [Table Text Block]	Number of Exercisable at Range of exercise Options March 31, 2017 prices Expiry Dates 283,610 283,610 CDN$0.01 - 5.00 Apr 2017-Dec 2019 79,900 14,967 $0.01 - 5.00 Sep 2023-Mar 2024 141,860 141,860 CDN$5.01 - 10.00 Oct 2017-Jun 2022 15,100 10,067 $5.01 - 10.00 Dec 2022 21,500 21,500 CDN$15.01 - 20.00 Nov 2018-Nov 2021 49,500 49,500 $15.01 - 20.00 Nov 2020 591,470 521,504
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	The estimated fair value of the share options granted during the six months ended March 31, 2017 and 2016 was determined using a Black-Scholes option valuation model with the following weighted average assumptions: Six Months Ended March 31, March 31, 2017 2016 Risk free interest rate 1.44 % 1.05 % Expected life (years) 7.00 7.00 Expected share price volatility 166 % 108 % 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: Six Months Ended March 31, 2016 Risk free interest rate 0.48 % Expected life (years) 0.04 Expected share price volatility 92 %
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: Six Months Ended March 31, 2016 Risk free interest rate 0.52 % Expected life (years) 0.01 Expected share price volatility 91 % Expected dividend yield 0 %

Supplemental Disclosure of Ca23

Supplemental Disclosure of Cash Flow and Non-Cash Transactions (Tables)	6 Months Ended
	Mar. 31, 2017
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: Six Months Ended March 31, March 31, 2017 2016 Cash paid during the period for taxes $ 800 $ 7,200
Schedule of Other Significant Noncash Transactions [Table Text Block]	Supplemental disclosure of noncash financing and investing activities follows: Six Months Ended March 31, March 31, 2017 2016 Transfer to common shares on exercise of warrants $ - $ 1,853,581

Fair Value of Financial Instr24

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Mar. 31, 2017
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 Active Significant Markets for Other Significant Identical Observable Unobservable Instruments Inputs Inputs (Level 1) (Level 2) (Level 3) Total Fair Value March 31, 2017 Assets Short-term investments in U.S. Treasury Bills $ 3,994,364 $ - $ - $ 3,994,364 September 30, 2016 Assets Short-term investments in U.S. Treasury Bills $ 3,988,794 $ - $ - $ 3,988,794

Concentrations of Credit Risk (

Concentrations of Credit Risk (Tables)	6 Months Ended
	Mar. 31, 2017
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: Six Months Ended March 31, March 31, 2017 2016 Product sales and contract services revenue 88% from 90% from The Company had the following concentrations of revenues by geographic areas: Six Months Ended March 31, March 31, 2017 2016 Europe 71 % 45 % U.S. 29 % 16 % Asia - 39 % The Company had the following concentrations of accounts receivable: March 31, September 30, 2017 2016 Accounts receivable 76% from 100% from

Nature of Operations (Details T

Nature of Operations (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Sep. 30, 2016
Nature of Operations [Line Items]
Net Income (Loss)	$ (1,103,677)	$ (861,010)	$ (2,589,349)	$ (2,490,813)
Accumulated deficit	(42,950,744)		(42,950,744)		$ (40,361,395)
Working capital	$ 8,900,000		$ 8,900,000

Investments (Details)

Investments (Details) - USD ($)	Mar. 31, 2017	Sep. 30, 2016
U.S. Treasury Bills	$ 3,994,364	$ 3,988,794

Inventory (Details)

Inventory (Details) - USD ($)	Mar. 31, 2017	Sep. 30, 2016
Raw materials	$ 36,277	$ 38,764
Work in process	20,417	43,498
Finished goods	253,880	167,168
Inventory	$ 310,574	$ 249,430

Property, Plant and Equipment29

Property, Plant and Equipment, net (Details) - USD ($)	Mar. 31, 2017	Sep. 30, 2016
Property, Plant and Equipment [Line Items]
Depreciable assets, gross	$ 1,566,609	$ 1,516,291
Less: accumulated depreciation	(879,783)	(793,057)
Depreciable assets, net	686,826	723,234
Construction in progress	105,444	32,880
Property, plant and equipment, net	792,270	756,114
Aquaculture system [Member]
Property, Plant and Equipment [Line Items]
Depreciable assets, gross	126,257	126,257
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	110,344	102,030
Tools and equipment [Member]
Property, Plant and Equipment [Line Items]
Depreciable assets, gross	920,333	894,319
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Depreciable assets, gross	49,347	49,347
Leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Depreciable assets, gross	$ 298,295	$ 282,305

Property, Plant and Equipment30

Property, Plant and Equipment, net (Details Textual) - USD ($)	6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 90,720	$ 68,732

Commitments (Details)

Commitments (Details)	Mar. 31, 2017USD ($)
For The Year Ending September 30,
2,017	$ 97,000
2,018	188,000
2,019	106,000
2,020	106,000
2,021	6,000
Thereafter	$ 503,000

Commitments (Details Textual)

Commitments (Details Textual)	1 Months Ended	6 Months Ended		12 Months Ended
	Jun. 30, 2015USD ($)	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)	Aug. 31, 2014USD ($)	Aug. 31, 2013USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2016EUR (€)	Sep. 30, 2014USD ($)	Aug. 14, 2002USD ($)
Other Commitments [Line Items]
Rent expense on lease agreements		$ 119,000	$ 116,000
Milestone payment				$ 100,000
Royalty expense		0	200,000
Equity Method Investments		66,695				$ 66,695
Joint venture agreement [Member]
Other Commitments [Line Items]
Equity Method Investments Committed Capital | €							€ 120,000
Equity Method Investment, Ownership Percentage						30.00%	30.00%
Equity Method Investments						$ 67,000
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
Royalty expense			200,000
Licensing Agreements [Member]
Other Commitments [Line Items]
License costs				$ 200,000	$ 25,000
Annual license fee								$ 20,000
Patent cost reimbursement		12,000	$ 11,000
401(k) Retirement Savings Plan [Member]
Other Commitments [Line Items]
Employer contributions		$ 32,000
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		$ 235,000
Agreements To Pay Time And Materials To Contractors [Member]
Other Commitments [Line Items]
Purchase obligations		$ 27,000
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 ($)	6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Class of Warrant or Right [Line Items]
Transfer to common shares on exercise of warrants	$ 0	$ 1,853,581
Share Capital [Member]
Class of Warrant or Right [Line Items]
Number of common shares issued	0	464,000
Proceeds from exercise of warrants	$ 0	$ 1,368,260
Transfer to common shares on exercise of warrants	0	1,853,581
Share-based compensation	$ 64,794	$ 167,329

Share Capital (Details 1)

Share Capital (Details 1)	12 Months Ended
	Sep. 30, 2016$ / sharesshares	Sep. 30, 2016CAD / sharesshares
Class of Warrant or Right [Line Items]
Number of Warrants, Beginning Balance	1,022,761	1,022,761
Number of Warrants, Granted	1,265,626	1,265,626
Number of Warrants, Granted	40,000	40,000
Number of Warrants, Exercised	(424,000)	(424,000)
Number of Warrants, Expired	(598,761)	(598,761)
Number of Warrants, Expired	(40,000)	(40,000)
Number of Warrants, Ending Balance	1,265,626	1,265,626
Weighted Average Exercise Price, Beginning Balance | $ / shares	$ 9.04
Weighted Average Exercise Price, Granted | (per share)	4.5	CAD 4
Weighted Average Exercise Price, Exercised | CAD / shares		4
Weighted Average Exercise Price, Expired | (per share)	13.33	CAD 4
Weighted Average Exercise Price, Ending Balance | $ / shares	$ 4.5

Share Capital (Details 2)

Share Capital (Details 2) - $ / shares	6 Months Ended
	Mar. 31, 2017	Sep. 30, 2016	Sep. 30, 2015
Class of Warrant or Right [Line Items]
Exercise Price	$ 4.50	$ 4.5	$ 9.04
Number of Warrants	1,265,626	1,265,626	1,022,761
Expiry Date	Jan. 6, 2022
Warrant One [Member]
Class of Warrant or Right [Line Items]
Exercise Price	$ 4.50
Number of Warrants	1,265,626

Share Capital (Details 3)

Share Capital (Details 3) - Warrants Exercised [Member]	6 Months Ended
	Mar. 31, 2016
Class of Warrant or Right [Line Items]
Risk free interest rate	0.48%
Expected life (years)	14 days
Expected share price volatility	92.00%

Share Capital (Details 4)

Share Capital (Details 4) - Warrants Granted [Member]	6 Months Ended
	Mar. 31, 2016
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)	12 Months Ended
	Sep. 30, 2016$ / sharesshares	Sep. 30, 2016CAD / sharesshares
Class of Stock [Line Items]
Number of units, Beginning Balance	46,600	46,600
Number of units, Exercised	(40,000)	(40,000)
Number of units, Expired	(6,600)	(6,600)
Number of units, Ending Balance	0	0
Weighted Average Exercise Price, Beginning Balance | $ / shares	$ 1.87
Weighted Average Exercise Price, Exercised | CAD / shares		CAD 2.50
Weighted Average Exercise Price, Expired | CAD / shares		CAD 2.50
Weighted average exercise price, Ending Balance | $ / shares	$ 0

Share Capital (Details 6)

Share Capital (Details 6)	6 Months Ended		12 Months Ended
	Mar. 31, 2017$ / sharesshares	Mar. 31, 2017CAD / sharesshares	Sep. 30, 2016$ / sharesshares	Sep. 30, 2016CAD / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options, Ending Balance	591,470	591,470
2013 Fixed Stock Option Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options, Beginning Balance	539,103	539,103	557,638	557,638
Number of Options, Granted	71,600	71,600	56,300	56,300
Number of Options, Expired	(18,233)	(18,233)	(21,334)	(21,334)
Number of Options, Expired	(1,000)	(1,000)	(53,501)	(53,501)
Number of Options, Ending Balance	591,470	591,470	539,103	539,103
Weighted Average Exercise Price, Beginning Balance | $ / shares	$ 5.29		$ 5.17
Weighted Average Exercise Price, Granted | $ / shares	1.89		6.47
Weighted Average Exercise Price, Expired | $ / shares	7.16		10.7
Weighted Average Exercise Price, Expired | CAD / shares		CAD 9.40		CAD 5.22
Weighted Average Exercise Price, Ending Balance | $ / shares	$ 4.77		$ 5.29

Share Capital (Details 7)

Share Capital (Details 7) - 6 months ended Mar. 31, 2017	$ / sharesshares	CAD / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options	591,470	591,470
Exercisable at March 31, 2017	521,504	521,504
Stock Option One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options	283,610	283,610
Exercisable at March 31, 2017	283,610	283,610
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	79,900	79,900
Exercisable at March 31, 2017	14,967	14,967
Exercise Price Range, Lower Range Limit | $ / shares	$ 0.01
Exercise Price Range, Upper Range Limit | $ / shares	$ 5
Expiry Date, Start	2023-09	2023-09
Expiry Date, End	2024-03	2024-03
Stock Option Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options	141,860	141,860
Exercisable at March 31, 2017	141,860	141,860
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 Four [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options	15,100	15,100
Exercisable at March 31, 2017	10,067	10,067
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 Options Five [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options	21,500	21,500
Exercisable at March 31, 2017	21,500	21,500
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 Six [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options	49,500	49,500
Exercisable at March 31, 2017	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 8)

Share Capital (Details 8) - Employee Stock Option [Member]	6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk free interest rate	1.44%	1.05%
Expected life (years)	7 years	7 years
Expected share price volatility	166.00%	108.00%
Expected dividend yield	0.00%	0.00%

Share Capital (Details Textual)

Share Capital (Details Textual) - USD ($)	6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Aug. 31, 2012
Share Capital [Line Items]
Weighted average contractual life remaining on the outstanding warrants	57 months
Weighted average contractual life remaining on the outstanding options	2 years 5 months 5 days
Weighted average fair value of share options awarded	$ 1.84	$ 6.75
Unrecognized share-based compensation expense	$ 107,000
Unrecognized share-based compensation expense, recognition period	3 years
Consultant [Member]
Share Capital [Line Items]
Share based compensation, share option vesting schedule	Share options granted to investor relations consultants are subject to the following vesting schedule: (aa) 25% shall vest at 3 months from the date of grant, (bb) 25% shall vest at 6 months from the date of grant, (cc) 25% shall vest at 12 months from the date of grant and (dd) 25% shall vest at 15 months from the date of grant.
Performance Shares [Member]
Share Capital [Line Items]
Share based compensation, shares reserved for issuance			1,000,000
Share based compensation, shares outstanding	383,838
Employee Share Option [Member]
Share Capital [Line Items]
Share based compensation, shares reserved for issuance	1,597,000
Share based compensation, share option vesting schedule	Share options granted to directors, officers, employees and consultants for past service are subject to the following vesting schedule: (a) one-third shall vest immediately, (b) one-third shall vest at 12 months from the date of grant and (c) one-third shall vest at 18 months from the date of grant.
Employee Stock Option One [Member]
Share Capital [Line Items]
Share based compensation, share option vesting schedule	Share options granted to directors, officers, employees and consultants for future service are subject to the following vesting schedule: (x) one-third shall vest at 12 months from the date of grant, (y) one-third shall vest at 24 months from the date of grant and (z) one-third shall vest at 36 months from the date of grant.

Supplemental Disclosure of Ca43

Supplemental Disclosure of Cash Flow and Non-Cash Transactions (Details) - USD ($)	6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Noncash or Part Noncash Acquisitions [Line Items]
Cash paid during the period for taxes	$ 800	$ 7,200

Supplemental Disclosure of Ca44

Supplemental Disclosure of Cash Flow and Non-Cash Transactions (Details 1) - USD ($)	6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Noncash or Part Noncash Acquisitions [Line Items]
Transfer to common shares on exercise of warrants	$ 0	$ 1,853,581

Fair Value of Financial Instr45

Fair Value of Financial Instruments (Details) - USD ($)	Mar. 31, 2017	Sep. 30, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments in U.S. Treasury Bills	$ 3,994,364	$ 3,988,794
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments in U.S. Treasury Bills	3,994,364	3,988,794
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments in U.S. Treasury Bills	0	0
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments in U.S. Treasury Bills	$ 0	$ 0

Concentrations of Credit Risk46

Concentrations of Credit Risk (Details)	6 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Sep. 30, 2016
Customer Concentration Risk [Member] | Product sales and contract services revenue [Member] | Five Customers [Member]
Concentration Risk [Line Items]
Concentration risk percentage		90.00%
Customer Concentration Risk [Member] | Product sales and contract services revenue [Member] | One Customer [Member]
Concentration Risk [Line Items]
Concentration risk percentage	88.00%
Customer Concentration Risk [Member] | Accounts receivable [Member] | One Customer [Member]
Concentration Risk [Line Items]
Concentration risk percentage	76.00%		100.00%
Geographic Concentration Risk [Member] | Revenue [Member] | Europe [Member]
Concentration Risk [Line Items]
Concentration risk percentage	71.00%	45.00%
Geographic Concentration Risk [Member] | Revenue [Member] | Asia [Member]
Concentration Risk [Line Items]
Concentration risk percentage	0.00%	39.00%
Geographic Concentration Risk [Member] | Revenue [Member] | U.S. [Member]
Concentration Risk [Line Items]
Concentration risk percentage	29.00%	16.00%