Stockholders' Equity Note Disclosure [Text Block] | 7. Share Capital On May 4, 2018, the Company effected a share consolidation (reverse split) of the Company's common shares at a ratio of 1-for-7. As a result of the reverse split, every seven 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. The reverse split reduced the number of common shares outstanding from 10,520,096 to 1,502,870 after fractional share rounding. The number of warrants and options were proportionately adjusted by the split ratio and the exercise prices correspondingly increased by the same split ratio. All shares and exercise prices are presented on a post-split basis in these condensed interim consolidated financial statements. Black-Scholes option valuation model The Company uses the Black-Scholes option valuation model to determine the fair value of warrants 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 and share options. Warrants There were 180,805 warrants outstanding at March 31, 2018 with an exercise price of $31.50 and expiry date of January 6, 2022. There were no warrants granted or exercised during the period from September 30, 2016 to March 31, 2018. The weighted average contractual life remaining on the outstanding warrants at March 31, 2018 is 45 months. Share Options The Company has an incentive compensation plan adopted in 2017 (the Incentive Plan) administered by the Board of Directors, which amended and restated the 2013 fixed share option plan. Options, restricted shares and restricted share units are eligible for grants under the Incentive Plan. The number of shares available for issuance under the Incentive Plan is 228,143, including shares available for the exercise of outstanding options under the 2013 fixed share option plan. No restricted shares or restricted share units have been granted as of March 31, 2018. 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. Weighted Number of Average Options Exercise Price Balance - September 30, 2016 77,015 $ 37.03 Granted 10,229 13.23 Expired (4,033) 77.98 Expired (24,500) 20.30 CDN $ Balance - September 30, 2017 58,711 $ 40.18 Granted 29,426 5.88 Expired (1,671) 112.56 Expired (5,679) 36.19 CDN $ Balance - March 31, 2018 80,787 $ 26.46 The weighted average contractual life remaining on the outstanding options is 50 months. Number of Exercisable at Options March 31, 2018 Range of exercise prices Expiry Dates 13,479 13,479 CDN$15.00 - 35.00 Apr 2019-Dec 2019 40,641 15,859 $5.00 - 20.00 Sep 2023-Mar 2025 17,265 17,265 CDN$40.00 - 70.00 Aug 2018-Jun 2022 2,114 2,114 $50.00 - 60.00 Dec 2022 3,073 3,073 CDN$105.00 - 140.00 Nov 2018-Nov 2021 4,215 4,215 $120.00 - 130.00 Nov 2020 80,787 56,005 Six Months Ended March 31, March 31, 2018 2017 Risk free interest rate 2.13 % 1.44 % Expected life (years) 7.00 7.00 Expected share price volatility 155 % 166 % Expected dividend yield 0 % 0 % The weighted average fair value of share options granted during the six months ended March 31, 2018 and 2017 was $ 5.67 12.88 As of March 31, 2018, the Company had approximately $ 137,000 34 There were no options exercised during the six months ended March 31, 2018 and 2017. There was no intrinsic value of the vested options at March 31, 2018. | 8. Share Capital Years Ended September 30, September 30, September 30, 2017 2016 2015 Number of common shares issued 54,834 307,357 6,110 Issuance of common shares $ - $ 6,750,000 $ - Share issuance costs - (805,264) - Proceeds from exercise of warrants - 1,368,260 12,609 Transfer to common shares on issuance of performance shares 1,070,909 - - Transfer to common shares on exercise of warrants - 1,853,581 10,000 Proceeds from exercise of options - - 94,168 Transfer to common shares on exercise of options - - 113,561 Share-based compensation 115,546 259,379 267,222 Reverse Share Split 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. Performance Shares Pursuant to a performance share plan approved by shareholders in 2010, 142,857 At September 30, 2017, all vested performance shares under the plan have been issued, and the performance share plan was terminated. 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 Weighted Number of Average Warrants Exercise Price Balance - September 30, 2015 146,110 $ 63.28 Granted 180,805 31.50 Granted 5,715 28.00 CDN $ Exercised (60,572) 28.00 CDN $ Expired (85,538) 93.31 Expired (5,715) 28.00 CDN $ Balance - September 30, 2016 and 2017 180,805 $ 31.50 There are no outstanding warrants with exercise prices denominated in Canadian dollar at September 30, 2017. The weighted average contractual life remaining on the outstanding warrants at September 30, 2017 is 51 Number of Exercise Price Warrants Expiry Date $ 31.50 180,805 January 6, 2022 180,805 Warrant Liability All warrants with exercise prices denominated in Canadian dollars were exercised or expired. Therefore, there is no outstanding warrant liability at September 30, 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. Years Ended September 30, September 30, 2016 2015 Risk free interest rate 0.48 % 0.44 % Expected life (years) 0.04 0.40 Expected share price volatility 92 % 92 % There were no warrants exercised during the year ended September 30, 2017. Year Ended September 30, 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 years ended September 30, 2017 or 2015. 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 6,657 $ 13.09 Exercised (5,714) 17.50 CDN $ Expired (943) 17.50 CDN $ Balance - September 30, 2016 and 2017 - $ - There were no broker units granted during the years ended September 30, 2017, 2016 and 2015. 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 228,143 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. Weighted Number of Average Options Exercise Price Balance - September 30, 2015 79,663 $ 36.19 Granted 8,043 45.29 Expired (3,048) 74.90 Expired (7,643) 36.54 CDN $ Balance - September 30, 2016 77,015 $ 37.03 Granted 10,229 13.23 Expired (4,033) 77.98 Expired (24,500) 20.30 CDN $ Balance - September 30, 2017 58,711 $ 40.18 The weighted average contractual life remaining on the outstanding options is 35 Number of Exercisable at Options September 30, 2017 Range of exercise prices Expiry Dates 16,444 16,444 CDN$15.00 - 35.00 Apr 2017-Dec 2019 11,415 2,533 $5.00 - 20.00 Sep 2023-Mar 2024 19,980 19,980 CDN$40.00 - 70.00 Oct 2017-Jun 2022 2,157 2,157 $50.00 - 60.00 Dec 2022 3,072 3,072 CDN$105.00 - 140.00 Nov 2018-Nov 2021 5,643 5,643 $120.00 - 130.00 Nov 2020 58,711 49,829 Years Ended September 30, September 30, September 30, 2017 2016 2015 Risk free interest rate 1.44 % 1.01 % 1.65 % Expected life (years) 7.00 7.00 7.00 Expected share price volatility 166 % 117 % 115 % Expected dividend yield 0 % 0 % 0 % The weighted average fair value of share options granted during the years ended September 30, 2017, 2016 and 2015 was $ 12.88 38.92 66.36 As of September 30, 2017, the Company had approximately $ 62,000 30 The intrinsic value of the options exercised during the year ended September 30, 2015 was $ 57.99 |