Pacific Green (PGTK) 10-Q 19 Feb 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Dec. 31, 2018	Feb. 18, 2019
Document and Entity Information [Abstract]
Entity Registrant Name	Pacific Green Technologies Inc.
Entity Central Index Key	1,553,404
Trading Symbol	PGTK
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Document Type	10-Q
Document Period End Date	Dec. 31, 2018
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,019
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding		44,080,846

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Dec. 31, 2018	Mar. 31, 2018
ASSETS
Cash	$ 3,677,371	$ 229,882
Amounts receivable	30,437	4,912
Work in progress	7,597,498
Prepaid expenses and deposits	125,504	72,032
Loan receivable (Note 3)	286,351
Due from related party (Note 9)		25,101
Total Current Assets	11,717,161	331,927
Lease receivable (Note 4)	1,995,000	1,995,000
Property and equipment (Note 5)	8,731	15,800
Intangible assets (Note 6)	9,965,209	10,622,068
Total Assets	23,686,101	12,964,795
Current Liabilities
Accounts payable and accrued liabilities (Note 9)	3,236,636	888,760
Customer deposits	8,652,677
Convertible debenture (Note 7)	30,000	30,000
Due to related parties (Note 9)	308,228	229,544
Derivative liability (Note 8)	374,607	75,505
Total Liabilities	12,602,148	1,223,809
Nature of Operations and Continuance of Business (Note 1)
Commitments (Note 14)
Subsequent Event (Note 15)
Stockholders' Equity
Common stock, 500,000,000 shares authorized, $0.001 par value 44,080,846 and 40,757,415 shares issued and outstanding, respectively	44,081	40,757
Common stock issuable (Note 10)	119,975	206,675
Additional paid-in capital	88,267,579	78,989,346
Accumulated other comprehensive income	534,262	268,259
Deficit	(77,881,944)	(67,764,051)
Total Stockholders' Equity	11,083,953	11,740,986
Total Liabilities and Stockholders' Equity	$ 23,686,101	$ 12,964,795

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2018	Mar. 31, 2018
Statement of Financial Position [Abstract]
Common stock, shares authorized	500,000,000	500,000,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares issued	44,080,846	40,757,415
Common stock, shares outstanding	44,080,846	40,757,415

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Income Statement [Abstract]
Revenue		$ 1,995,000		$ 1,995,000
Cost of goods sold		1,856,108		1,856,108
Gross Profit		138,892		138,892
Expenses
Advertising and promotion	82,851	45,235	186,793	69,185
Amortization of intangible assets (Note 6)	218,952	218,953	656,859	656,859
Consulting fees (Note 9)	1,221,726	403,184	2,409,697	581,983
Depreciation (Note 5)	2,357	2,356	7,069	7,069
Foreign exchange loss	403,619	1,955	238,045	49,870
Office and miscellaneous	126,607	25,585	206,903	89,282
Professional fees	234,157	175,616	392,104	264,905
Research and development		581,742		1,011,706
Salaries and wages	181,885		353,249
Stock-based compensation	4,570,133		4,744,382
Transfer agent and filing fees	907	5,284	28,288	31,135
Travel	374,389	89,000	586,377	215,338
Total expenses	7,417,583	1,548,910	9,809,766	2,977,332
Loss before other income (expenses)	(7,417,583)	(1,410,018)	(9,809,766)	(2,838,440)
Other income (expenses)
Loss on extinguishment of debt		(114,389)		(16,758)
Gain (loss) on change in fair value of derivative liability (Note 7)	(118,236)	96,634	(299,102)	(187,735)
Impairment of property and equipment		7,641		(282,939)
Interest expense (Notes 7 and 8)	(3,000)	(2,500)	(9,025)	(346,499)
Total other income (expense)	(121,236)	(12,614)	(308,127)	(833,931)
Net loss for the period	(7,538,819)	(1,422,632)	(10,117,893)	(3,672,371)
Other comprehensive income (loss)
Foreign currency translation gain (loss)	382,127	(75,374)	266,003	(33,270)
Comprehensive loss for the period	$ (7,156,692)	$ (1,498,006)	$ (9,851,890)	$ (3,705,641)
Net loss per share, basic and diluted	$ (0.17)	$ (0.04)	$ (0.24)	$ (0.12)
Weighted average number of shares outstanding	43,549,042	38,525,341	42,917,350	30,875,288

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Operating Activities
Net loss for the period	$ (10,117,893)	$ (3,672,371)
Adjustments to reconcile net loss to net cash used in operating activities:
Accretion of discounts on note payable and convertible debenture		33,438
Amortization of intangible assets	656,859	656,859
Depreciation	7,069	7,069
Gain on extinguishment of debt		16,758
Impairment of property and equipment		282,939
Imputed interest		293,478
Loss on change in fair value of derivative liability	299,102	187,735
Stock-based compensation (Note 12)	4,744,382
Stock issued for services	893,000	9,900
Changes in operating assets and liabilities:
Amounts receivable	(25,525)	20,988
Work in progress	(7,597,498)
Prepaid expenses	(53,472)	(45,261)
Due from related party	25,101	(200)
Accounts payable and accrued liabilities	2,347,876	439,071
Customer deposits	8,652,677
Due to related parties	79,184	175,610
Net Cash Used In Operating Activities	(89,138)	(1,593,987)
Investing Activities
Loan receivable advances	(286,351)
Purchase of property and equipment		(460,294)
Net Cash Used In Investing Activities	(286,351)	(460,294)
Financing Activities
Proceeds from issuance of common stock / share subscriptions received	3,556,975	2,851,600
Repayments to related parties		(338,450)
Repayment of loan payable		(30,917)
Net Cash Provided By Financing Activities	3,556,975	2,482,233
Effect of Foreign Exchange Rate Changes on Cash	266,003	(520,004)
Change in Cash	3,447,489	(92,052)
Cash, Beginning of Period	229,882	382,167
Cash, End of Period	3,677,371	290,115
Non-cash Investing and Financing Activities:
Accrued interest settled with common stock		85,483
Amount due to related parties settled with common stock	500	3,731,681
Amount due to related parties settled with stock options		78,165
Convertible debenture settled with common stock		60,000
Derivative liability settled with common stock		221,956
Equipment sold under long-term sales type lease		1,856,108
Loan payable settled with common stock		350,335
Note payable settled with common stock		$ 5,000,000

Nature of Operations and Contin

Nature of Operations and Continuance of Business	9 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations and Continuance of Business	1. Nature of Operations and Continuance of Business Pacific Green Technologies Inc. (the "Company") was incorporated in the state of Delaware on March 10, 1994, under the name of Beta Acquisition Corp. In September 1995, the Company changed its name to In-Sports International, Inc. In August 2002, the Company changed its name to ECash, Inc. On June 13, 2012, the Company changed its name to Pacific Green Technologies Inc. The Company is in the business of acquiring, developing, and marketing emission control technologies. The accompanying condensed consolidated financial statements of the Company should be read in conjunction with the consolidated financial statements and accompanying notes filed with the U.S. Securities and Exchange Commission in the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2018. In the opinion of management, the accompanying condensed consolidated financial statements reflect all adjustments of a recurring nature considered necessary to present fairly the Company's financial position and the results of its operations and its cash flows for the periods shown. The preparation of these condensed consolidated financial statements in accordance with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported. Actual results could differ materially from those estimates. The results of operations and cash flows for the periods shown are not necessarily indicative of the results to be expected for the full year. These condensed consolidated financial statements have been prepared on a going concern basis, which implies the Company will continue to realize its assets and discharge its liabilities in the normal course of business. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, creditors, and related parties, and the ability of the Company to generate profitable operations. As at December 31, 2018, the Company is generating significant sales orders and fulfilling orders on commercial terms; the Company has an accumulated deficit of $77,881,944 since inception and a working capital deficit of $884,987. A history of significant losses raises doubts regarding the Company's ability to continue as a going concern. These consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Significant Accounting Policies	2. Significant Accounting Policies (a) Basis of Presentation These consolidated financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States, and are expressed in U.S. dollars. These consolidated financial statements include the accounts of the Company and the following active entities: Pacific Green Marine Technologies Ltd. (“PGMTL”) Wholly-owned subsidiary Pacific Green Marine Technologies Inc. (US)(“PGMTI”) Wholly-owned subsidiary Pacific Green Technologies International Limited (“PGTIL”) Pacific Green Marine Technologies Inc. (CAN)(“PGTCAN”) Wholly-owned subsidiary Wholly-owned subsidiary Pacific Green Technologies Asia Limited (“PGTA”) Wholly-owned subsidiary of PGTIL Pacific Green Technologies China Limited (“PGTC”) Wholly-owned subsidiary of PGTA All inter-company balances and transactions have been eliminated. (b) Financial Instruments and Fair Value Measurements ASC 820, “Fair Value Measurements and Disclosures” requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820 prioritizes the inputs into three levels that may be used to measure fair value: Level 1 Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. Level 2 Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. Level 3 Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. The Company’s financial instruments consist principally of cash, amounts receivable, loan receivable, lease receivable, amounts due from and to related parties, accounts payable and accrued liabilities, convertible debenture, and derivative liability. The recorded values of these financial instruments approximate their current fair values because of their nature and respective maturity dates or durations. The following table represents assets and liabilities that are measured and recognized at fair value as of December 31, 2018, on a recurring basis: Level 1 Level 2 Level 3 Cash 3,677,371 – – Derivative liability – 374,607 – Total 3,677,371 374,607 – During the nine months ended December 31, 2018, the Company recognized a loss on the change in fair value of derivative liability of $299,102 (2017 – $187,375). (c) Inventory The Company’s inventory consists of manufacturing and installation projects in various stages of completion. Inventories are recorded at cost and consist of design, materials, and shipyard installation costs incurred. As at December 31, 2018, all inventories were considered work in progress. (d) Revenue Recognition The Company derives revenue from the sale of emission control equipment. Revenue is recognized when control of products or services is transferred to customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those promised products or services. The Company determines revenue recognition through the following five steps: · Identification of the contract, or contracts, with a customer · Identification of the performance obligations in the contract · Determination of the transaction price · Allocation of the transaction price to the performance obligations in the contract · Recognition of revenue when, or as, performance obligations are satisfied The Company accounts for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable. (e) Recent Accounting Pronouncements In February 2016, the FASB issued new lease accounting guidance in ASU No. 2016-02, “ Leases The Company has implemented all new accounting pronouncements that are in effect and that may impact its consolidated financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

Loan Receivable

Loan Receivable	9 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Loan Receivable	3. Loan Receivable As at December 31, 2018, the Company is owed $286,351 for loan advances made to a non-related party which is non-interest bearing, unsecured, and due on demand.

Lease Receivable

Lease Receivable	9 Months Ended
	Dec. 31, 2018
Lease Receivable [Abstract]
Lease Receivable	4. Lease Receivable In December 2017, the Company completed the installation and the accounting sale of a constructed scrubber system. The Company's investment in sales-type lease as at March 31, 2018, consists of an amount due from the customer under a long-term lease arrangement. No amount has been allocated to residual value or other deliverables; accordingly, the amount presented in the consolidated balance sheet represents the present value of amounts due under the energy management contract. The entire amount is presented as a long-term receivable.

Property and Equipment

Property and Equipment	9 Months Ended
	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Property and Equipment	5. Property and Equipment Cost Accumulated amortization December 31, March 31, Furniture and equipment 4,155 1,870 2,285 2,908 Leasehold improvements 25,784 19,338 6,446 12,892 29,939 21,208 8,731 15,800

Intangible Assets

Intangible Assets	9 Months Ended
	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	6. Intangible Assets Cost Accumulated amortization Impairment December 31, March 31, Patents and technical information 35,852,556 (5,430,092 ) (20,457,255 ) 9,965,209 10,622,068 On May 17, 2013, the Company entered into an Assignment of Assets agreement with EnviroTechnologies, Inc. ("Enviro"), a non-related party, whereby the Company acquired various patents and technical information related to the manufacture of a wet scrubber for removing sulphur, other pollutants, and the particulate matter from diesel engine exhaust. In exchange for these assets, the Company waived all obligations owing to the Company as well as agreed to return a total of 88,876,443 of Enviro's shares back to Enviro. The obligations waived consisted of $237,156 owing to the Company as well as $93,721 of debt owing to Pacific Green Group Limited ("PGG"), a company controlled by a shareholder of the Company who has a significant influence on the Company's operations, which was assigned to the Company. The Company entered into share exchange agreements with Enviro shareholders pursuant to which it issued shares of its common stock in exchange for shares of Enviro on a one-for-ten basis. The intangible assets acquired were recorded at cost and is being amortized using the straight-line method over the estimated useful life of 17 years.

Convertible Debenture

Convertible Debenture	9 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Convertible Debenture	7. Convertible Debenture On November 10, 2015, the Company entered into a $110,000 convertible debenture with a non-related party, in exchange for $100,000, net of $10,000 for legal fees which was deferred and amortized over the term of the debenture. Under the terms of the debenture, the amount is unsecured, bears interest at 10% and default interest at 20% per annum, and was due on November 10, 2016. The note is convertible into shares of common stock of the Company equal to the lower of: (a) $0.40 or (b) 60% of the lowest trading price of the Company's common stock during the 20 consecutive trading days prior to the date of conversion. In the event of a default, the discount shall be permanently increased by 10%. The Company analyzed the conversion option under ASC 815, and determined that the conversion feature should be classified as a liability and recorded at fair value due to there being no explicit limit to the number of shares to be delivered upon settlement of the conversion option. In accordance with ASC 815, the Company recognized the intrinsic value of the embedded beneficial conversion feature of $110,000. On February 22, 2017, the Company issued 50,000 shares of common stock for the conversion of $20,000 of this debenture. On August 10, 2017, the Company issued 100,000 shares of common stock for the conversion of $20,000 of this debenture. On October 4, 2017, the Company issued 320,000 shares of common stock for the conversion of $40,000 of this debenture. As at December 31, 2018, the carrying value of the debenture was $30,000 (March 31, 2018 - $30,000) and the fair value of the derivative liability was $374,607 (March 31, 2018 - $75,505).

Derivative Liability

Derivative Liability	9 Months Ended
	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Liability	8. Derivative Liability The Company records the fair value of the conversion price of the convertible debenture disclosed in Note7 in accordance with ASC 815. The fair value of the derivative liability was calculated using a binomial option pricing model. The fair value of the derivative liability is revalued on each balance sheet date with corresponding gains and losses recorded in the consolidated statement of operations. During the nine months ended December 31, 2018, the Company recorded a loss on the change in fair value of derivative liability of $299,102 (2017 – $187,735). As at December 31, 2018, the Company recorded derivative liability of $374,607 (March 31, 2018 - $75,505). The following inputs and assumptions were used to calculate the fair value of the beneficial conversion feature of the convertible debenture outstanding as at December 31, 2018, assuming no expected dividends: As at Estimated common stock issuable upon conversion 178,297 Estimated exercise price per common share 0.40 Risk-free interest rate 2.45 % Expected volatility 160 % Expected life (in years) 0.25 A summary of the activity of the derivative liability is shown below: $ Balance, March 31, 2018 75,505 Mark to market adjustment 299,102 Balance, December 31, 2018 374,607

Related Party Transactions

Related Party Transactions	9 Months Ended
	Dec. 31, 2018
Related Party Transactions [Abstract]
Related Party Transactions	9. Related Party Transactions (a) As at December 31, 2018, the Company owed $229,004 to (March 31, 2018 - $25,101 was owed from) a shareholder of the Company who has a significant influence on the Company’s operations. The amount owed is unsecured, non-interest bearing, and due on demand. (b) As at December 31, 2018, the Company owed $19,737 (March 31, 2018 – $198,175) to PGG, a company controlled by a shareholder of the Company who has a significant influence on the Company’s operations, of which $nil (March 31, 2018 - $28,618) was recorded in accounts payable and accrued liabilities. The amounts owing are unsecured, non-interest bearing, and due on demand. (c) As at December 31, 2018, the Company owed $274,116 (March 31, 2018 – $64,195) to companies controlled by directors of the Company and directors of the Company, of which $214,629 (March 31, 2018 - $4,208) was recorded in accounts payable and accrued liabilities. The amounts owing are unsecured, non-interest bearing, and due on demand. (d) During the nine months ended December 31, 2018, the Company incurred $204,500 (2017 – $230,000) in consulting fees to PGG, a company controlled by a shareholder of the Company who has a significant influence on the Company’s operations. (e) During the nine months ended December 31, 2018, the Company incurred $200,000 (2017 – $nil) in consulting fees to a shareholder of the Company who has a significant influence on the Company’s operations. (f) During the nine months ended December 31, 2018, the Company incurred $311,366 (2017 – $81,610) in consulting fees to companies controlled by directors of the Company. (g) During the nine months ended December 31, 2018, the Company incurred $75,000 (2017 – $nil) in consulting fees to the President of the Company.

Common Stock

Common Stock	9 Months Ended
	Dec. 31, 2018
Equity [Abstract]
Common Stock	10. Common Stock (a) On April 28, 2018, the Company issued 206,675 shares of common stock relating to a non-brokered private placement at a price of $1.00 per share for proceeds of $206,675, which was recorded as common stock issuable as at March 31, 2018. (b) On May 28, 2018, the Company entered into securities purchase agreements (“SPA’s”) with seven investors. The SPA’s include subscription agreements for 1,957,333 shares of common stock at a price of $1.50 per share for proceeds of $2,936,000, and 1,957,333 share purchase warrants exercisable at a price of $2.50 per unit expiring on July 1, 2020. The SPA’s included conditional subscription agreements for the purchase of an additional 1,342,665 shares of common stock and 1,342,665 share purchase warrants exercisable at $2.50 per share expiring on July 1, 2020. Upon the Company meeting a specified sales target by December 31, 2018, the conditional subscriptions will be completed at $1.50 per unit on or before January 10, 2019. If the Company fails to achieve the specified sales target, then the investors have the option to complete the conditional subscription agreements for the purchase of an additional 1,853,998 shares of common stock and 1,853,998 share purchase warrants exercisable at $2.00 per share expiring on July 1, 2020 for $2.00 per unit on or before January 15, 2019. (c) On June 12, 2018, the Company issued 287,500 shares of common stock with a fair value of $517,500 to three consultants, in lieu of a cash payment, for six months of consulting services. (d) On July 5, 2018, the Company issued 50,000 shares of common stock for the settlement of $500 owed to a director of the Company pursuant to the exercise of stock options. (e) On September 28, 2018, the Company issued 145,000 shares of common stock with a fair value of $275,500 to seven consultants, in lieu of a cash payment, for six months of consulting services. (f) 2018, the Company issued 100,000 shares of common stock for proceeds of $1,000 pursuant to the exercise of stock options. (g) On November 5, 2018, the Company issued 500,000 shares of common stock for proceeds of $500,000 pursuant to the exercise of share purchase warrants. (h) On December 1, 2018, the Company issued 76,923 shares of common stock to a consultant in settlement of $100,000 due under a commission arrangement. (i) On December 13, 2018, the Company received share subscription proceeds of $59,975 for the conditional subscription for 40,000 shares of common stock issuable at $1.50 per share. (j) On December 31, 2018, the Company received share subscription proceeds of $60,000 for the conditional subscription for 40,000 shares of common stock issuable at $1.50 per share.

Share Purchase Warrants

Share Purchase Warrants	9 Months Ended
	Dec. 31, 2018
Share Purchase Warrants [Abstract]
Share Purchase Warrants	11. Share Purchase Warrants Number of Weighted average exercise price Balance, March 31, 2018 1,500,000 1.00 Issued 1,957,333 2.50 Exercised (500,000 ) 1.00 Balance, December 31, 2018 2,957,333 1.99 As at December 31, 2018, the following share purchase warrants were outstanding: Number of warrants outstanding Exercise price Expiry date 1,000,000 1.00 November 23, 2019 1,957,333 2.50 July 1, 2020 2,957,333

Stock Options

Stock Options	9 Months Ended
	Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Options	12. Stock Options The following table summarizes the continuity of stock options issued and outstanding: Number of Weighted average exercise price Aggregate intrinsic value Balance, March 31, 2018 537,500 0.01 478,375 Granted 2,965,000 1.64 Exercised (150,000 ) 0.01 Balance, December 31, 2018 3,352,500 1.45 3,505,875 Additional information regarding stock options outstanding as at December 31, 2018 is as follows: Outstanding and exercisable Range of Number of shares Weighted average remaining contractual life (years) Weighted average 0.01 487,500 0.6 0.01 1.70 2,865,000 2.9 1.70 3,352,500 2.6 1.45 On July 17, 2018, the Company extended the life of 312,500 stock options previously granted to the Company’s President and Chief Executive Officer. The expiry date of the stock options was extended from July 18, 2018 to April 30, 2019. The extension of the stock options did not result in any incremental compensation cost. The fair value was estimated using the Black-Scholes option pricing model assuming no expected dividends or forfeitures. During the nine months ended December 31, 2018, the Company granted 2,965,000 (2017 – 175,000) stock options to officers, directors, employees, and consultants to the Company. The stock options are exercisable at $1.70 per share for a three-year term. The stock options were recorded at their estimated fair value of $4,744,382 (2017 - $78,165) or $1.60 per option at the time of grant. The fair values were estimated using the Black-Scholes option pricing model assuming no expected dividends or forfeitures and the following weighted average assumptions: Nine months ended Nine months ended December 31, Risk-free interest rate 2.82 % 1.45 % Expected life (in years) 3 2 Expected volatility 213 % 251 %

Segmented Information

Segmented Information	9 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
Segmented Information	13. Segmented Information The Company is located and operates in the United States and its subsidiaries are primarily located and operating in the United Kingdom and China. December 31, 2018 United United China Total Lease receivable – 1,995,000 – 1,995,000 Property and equipment 8,731 – – 8,731 Intangible assets 9,965,209 – – 9,965,209 Total non-current assets 9,973,940 1,995,000 – 11,968,940

Commitments

Commitments	9 Months Ended
	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments	14. Commitments (a) On August 4, 2016, the Company entered into a three-year lease agreement commencing November 15, 2016. The minimum lease payments over the remaining term of the lease are as follows: Fiscal Year $ 2019 15,529 2020 39,339 54,868 (b) On July 14, 2017, the Company entered into a new memorandum of understanding to establish a new joint venture company in China with a non-related party (the “Supplier”) wherein the Supplier would receive and process orders, manufacture, and install products for the Company’s customers. In return, the Company agreed to design the product, provide strategic pricing, sales and marketing direction, as well as provide technology licenses and technical support (the “Technology”) to the Supplier. During the term of the agreement, the Company will provide the Supplier with a non-transferrable right and license to use the Technology to manufacture and install the product within the Asia and Russia region.

Subsequent Event

Subsequent Event	9 Months Ended
	Dec. 31, 2018
Subsequent Events [Abstract]
Subsequent Event	15. Subsequent Event On January 9, 2019, the Company received subscription proceeds of $1,893,950 for the conditional subscription for 1,262,666 shares of common stock at $1.50 per share. Refer to Note 10(b).

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Basis of Presentation	(a) Basis of Presentation These consolidated financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States, and are expressed in U.S. dollars. These consolidated financial statements include the accounts of the Company and the following active entities: Pacific Green Marine Technologies Ltd. ("PGMTL") Wholly-owned subsidiary Pacific Green Marine Technologies Inc. (US)("PGMTI") Wholly-owned subsidiary Pacific Green Technologies International Limited ("PGTIL") Pacific Green Marine Technologies Inc. (CAN)("PGTCAN") Wholly-owned subsidiary Wholly-owned subsidiary Pacific Green Technologies Asia Limited ("PGTA") Wholly-owned subsidiary of PGTIL Pacific Green Technologies China Limited ("PGTC") Wholly-owned subsidiary of PGTA All inter-company balances and transactions have been eliminated.
Financial Instruments and Fair Value Measurements	(b) Financial Instruments and Fair Value Measurements ASC 820, "Fair Value Measurements and Disclosures" requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument's categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820 prioritizes the inputs into three levels that may be used to measure fair value: Level 1 Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. Level 2 Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. Level 3 Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. The Company's financial instruments consist principally of cash, amounts receivable, loan receivable, lease receivable, amounts due from and to related parties, accounts payable and accrued liabilities, convertible debenture, and derivative liability. The recorded values of these financial instruments approximate their current fair values because of their nature and respective maturity dates or durations. The following table represents assets and liabilities that are measured and recognized at fair value as of December 31, 2018, on a recurring basis: Level 1 Level 2 Level 3 Cash 3,677,371 – – Derivative liability – 374,607 – Total 3,677,371 374,607 – During the nine months ended December 31, 2018, the Company recognized a loss on the change in fair value of derivative liability of $299,102 (2017 – $187,375).
Inventory	(c) Inventory The Company's inventory consists of manufacturing and installation projects in various stages of completion. Inventories are recorded at cost and consist of design, materials, and shipyard installation costs incurred. As at December 31, 2018, all inventories were considered work in progress.
Revenue Recognition	(d) Revenue Recognition The Company derives revenue from the sale of emission control equipment. Revenue is recognized when control of products or services is transferred to customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those promised products or services. The Company determines revenue recognition through the following five steps: · Identification of the contract, or contracts, with a customer · Identification of the performance obligations in the contract · Determination of the transaction price · Allocation of the transaction price to the performance obligations in the contract · Recognition of revenue when, or as, performance obligations are satisfied The Company accounts for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable.
Recent Accounting Pronouncements	(e) Recent Accounting Pronouncements In February 2016, the FASB issued new lease accounting guidance in ASU No. 2016-02, " Leases The Company has implemented all new accounting pronouncements that are in effect and that may impact its consolidated financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	9 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Schedule of assets and liabilities that are measured and recognized at fair value	Level 1 Level 2 Level 3 Cash 3,677,371 – – Derivative liability – 374,607 – Total 3,677,371 374,607 –

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Schedule of property and equipment	Cost Accumulated amortization December 31, March 31, Furniture and equipment 4,155 1,870 2,285 2,908 Leasehold improvements 25,784 19,338 6,446 12,892 29,939 21,208 8,731 15,800

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible assets	Cost Accumulated amortization Impairment December 31, March 31, Patents and technical information 35,852,556 (5,430,092 ) (20,457,255 ) 9,965,209 10,622,068

Derivative Liability (Tables)

Derivative Liability (Tables)	9 Months Ended
	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of convertible debentures outstanding	As at Estimated common stock issuable upon conversion 178,297 Estimated exercise price per common share 0.40 Risk-free interest rate 2.45 % Expected volatility 160 % Expected life (in years) 0.25
Schedule of activity of derivative liability	$ Balance, March 31, 2018 75,505 Mark to market adjustment 299,102 Balance, December 31, 2018 374,607

Share Purchase Warrants (Tables

Share Purchase Warrants (Tables)	9 Months Ended
	Dec. 31, 2018
Share Purchase Warrants [Abstract]
Schedule of share purchase warrants	Number of Weighted average exercise price Balance, March 31, 2018 1,500,000 1.00 Issued 1,957,333 2.50 Exercised (500,000 ) 1.00 Balance, December 31, 2018 2,957,333 1.99
Schedule of share purchase warrants outstanding	Number of warrants outstanding Exercise price Expiry date 1,000,000 1.00 November 23, 2019 1,957,333 2.50 July 1, 2020 2,957,333

Stock Options (Tables)

Stock Options (Tables)	9 Months Ended
	Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of continuity of stock options	Number of Weighted average exercise price Aggregate intrinsic value Balance, March 31, 2018 537,500 0.01 478,375 Granted 2,965,000 1.64 Exercised (150,000 ) 0.01 Balance, December 31, 2018 3,352,500 1.45 3,505,875
Schedule of additional information regarding stock options outstanding	Outstanding and exercisable Range of Number of shares Weighted average remaining contractual life (years) Weighted average 0.01 487,500 0.6 0.01 1.70 2,865,000 2.9 1.70 3,352,500 2.6 1.45
Summary of fair values estimated using the Black-Scholes option pricing model	Nine months ended Nine months ended December 31, Risk-free interest rate 2.82 % 1.45 % Expected life (in years) 3 2 Expected volatility 213 % 251 %

Segmented Information (Tables)

Segmented Information (Tables)	9 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
Schedule of segment report information	December 31, 2018 United United China Total Lease receivable – 1,995,000 – 1,995,000 Property and equipment 8,731 – – 8,731 Intangible assets 9,965,209 – – 9,965,209 Total non-current assets 9,973,940 1,995,000 – 11,968,940

Commitments (Tables)

Commitments (Tables)	9 Months Ended
	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Schedule of minimum lease payments	Fiscal Year $ 2019 15,529 2020 39,339 54,868

Nature of Operations and Cont_2

Nature of Operations and Continuance of Business (Details) - USD ($)	Dec. 31, 2018	Mar. 31, 2018
Nature of Operations and Continuance of Business (Textual)
Working capital deficit	$ 884,987
Accumulated deficit	$ (77,881,944)	$ (67,764,051)

Significant Accounting Polici_4

Significant Accounting Policies (Details) - Fair value, measurements, recurring [Member]	Dec. 31, 2018USD ($)
Level 1 [Member]
Schedule of assets and liabilities that are measured and recognized in fair value
Cash	$ 3,677,371
Derivative liability
Total	3,677,371
Level 2 [Member]
Schedule of assets and liabilities that are measured and recognized in fair value
Cash
Derivative liability	374,607
Total	374,607
Level 3 [Member]
Schedule of assets and liabilities that are measured and recognized in fair value
Cash
Derivative liability
Total

Significant Accounting Polici_5

Significant Accounting Policies (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Significant Accounting Policies (Textual)
Loss on change in fair value of derivative liability	$ (118,236)	$ 96,634	$ (299,102)	$ (187,735)

Loan Receivable (Details)

Loan Receivable (Details)	Dec. 31, 2018USD ($)
Loan Receivable (Textual)
Unsecured debt due	$ 286,351

Property and Equipment (Details

Property and Equipment (Details) - USD ($)	Dec. 31, 2018	Mar. 31, 2018
Property, Plant and Equipment [Line Items]
Cost	$ 29,939
Accumulated amortization	21,208
Net carrying value	8,731	$ 15,800
Furniture and equipment [Member]
Property, Plant and Equipment [Line Items]
Cost	4,155
Accumulated amortization	1,870
Net carrying value	2,285	2,908
Leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Cost	25,784
Accumulated amortization	19,338
Net carrying value	$ 6,446	$ 12,892

Intangible Assets (Details)

Intangible Assets (Details) - Patents and technical information [Member] - USD ($)	9 Months Ended
	Dec. 31, 2018	Mar. 31, 2018
Schedule of intangible assets
Cost	$ 35,852,556
Accumulated amortization	(5,430,092)
Impairment	(20,457,255)
Net carrying value	$ 9,965,209	$ 10,622,068

Intangible Assets (Details Text

Intangible Assets (Details Textual)	1 Months Ended
	May 17, 2013USD ($)shares
Intangible Assets (Textual)
Obligations waived	$ 237,156
Estimated useful life	17 years
Enviro [Member]
Intangible Assets (Textual)
Number of shares repurchased | shares	88,876,443
PGG [Member]
Intangible Assets (Textual)
Obligations waived	$ 93,721

Convertible Debenture (Details)

Convertible Debenture (Details) - USD ($)	Oct. 04, 2017	Aug. 10, 2017	Nov. 10, 2015	Feb. 22, 2017	Dec. 31, 2018	Mar. 31, 2018
Short-term Debt [Line Items]
Convertible debenture					$ 30,000	$ 30,000
Intrinsic value of embedded beneficial conversion feature					110,000
Fair value of derivative liability					$ 374,607	$ 75,505
Convertible Debt [Member]
Short-term Debt [Line Items]
Convertible debenture	$ 40,000	$ 20,000	$ 110,000	$ 20,000
Exchange fees			100,000
Net legal fees			$ 10,000
Interest rate			10.00%
Convertible debenture, due date			Nov. 10, 2016
Convertible debenture, description			The terms of the debenture, the amount is unsecured, bears guaranteed interest at 10% and default interest at 20% per annum, and was due on November 10, 2016. The note is convertible into shares of common stock of the Company equal to the lower of: (a) $0.40 or (b) 60% of the lowest trading price of the Company's common stock during the 20 consecutive trading days prior to the date of conversion. In the event of a default, the discount shall be permanently increased by 10%.
Common stock issued for conversion, shares	320,000	100,000		50,000

Derivative Liability (Details)

Derivative Liability (Details)	9 Months Ended
	Dec. 31, 2018$ / sharesshares
Schedule of convertible debentures outstanding
Estimated common stock issuable upon conversion | shares	178,297
Estimated exercise price per common share | $ / shares	$ 0.40
Risk-free interest rate	2.45%
Expected volatility	160.00%
Expected life (in years)	2 months 30 days

Derivative Liability (Details 1

Derivative Liability (Details 1)	9 Months Ended
	Dec. 31, 2018USD ($)
Schedule of derivative liability
Beginning Balance	$ 75,505
Mark to market adjustment	299,102
Ending Balance	$ 374,607

Derivative Liability (Details T

Derivative Liability (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Mar. 31, 2018
Derivative Liability (Textual)
Loss on change in fair value of derivative liability	$ (118,236)	$ 96,634	$ (299,102)	$ (187,735)
Derivative liability	$ 374,607		$ 374,607		$ 75,505

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Mar. 31, 2018
Related Party Transactions (Textual)
Consulting fees	$ 1,221,726	$ 403,184	$ 2,409,697	$ 581,983
President [Member]
Related Party Transactions (Textual)
Consulting fees			75,000
Shareholder [Member]
Related Party Transactions (Textual)
Related party transaction, amounts			229,004		$ 25,101
Consulting fees			200,000
PGG [Member]
Related Party Transactions (Textual)
Related party transaction, amounts			19,737		198,175
Accounts payable and accrued liabilities					28,618
Consulting fees			204,500	230,000
Directors [Member]
Related Party Transactions (Textual)
Related party transaction, amounts			274,116		64,195
Accounts payable and accrued liabilities	$ 214,629		214,629		$ 4,208
Consulting fees			$ 311,366	$ 81,610

Common Stock (Details)

Common Stock (Details)	Dec. 01, 2018USD ($)shares	Nov. 05, 2018USD ($)shares	Jul. 05, 2018USD ($)shares	Jun. 12, 2018USD ($)consultantsshares	Sep. 28, 2018USD ($)consultantsshares	May 28, 2018USD ($)$ / sharesshares	Apr. 28, 2018USD ($)$ / sharesshares	Dec. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2017USD ($)	Dec. 13, 2018USD ($)$ / sharesshares
Common Stock (Textual)
Proceeds from issuance of common stock								$ 3,556,975	$ 2,851,600
Non-brokered private placement [Member]
Common Stock (Textual)
Shares of common stock | shares							206,675
Common stock, price per share | $ / shares							$ 1
Proceeds from issuance of common stock							$ 206,675
Director [Member]
Common Stock (Textual)
Shares of common stock | shares			50,000
Proceeds from issuance of common stock			$ 500
Consultants [Member]
Common Stock (Textual)
Shares of common stock | shares	76,923			287,500	145,000
Proceeds from issuance of common stock				$ 517,500	$ 275,500
Number of consultants | consultants				3	7
Due under commission	$ 100,000
Investor [Member] | Securities Purchase Agreements [Member]
Common Stock (Textual)
Shares of common stock | shares						1,957,333
Common stock, price per share | $ / shares						$ 1.50
Proceeds from issuance of common stock						$ 2,936,000
Purchase warrants exercisable | shares						1,957,333
Warrants exercisable price | $ / shares						$ 2.50
Warrants expiring date						Jul. 1, 2020
Conditional subscription agreements, description						The SPA’s included conditional subscription agreements for the purchase of an additional 1,342,665 shares of common stock and 1,342,665 share purchase warrants exercisable at $2.50 per share expiring on July 1, 2020. Upon the Company meeting a specified sales target by December 31, 2018, the conditional subscriptions will be completed at $1.50 per unit on or before January 10, 2019. If the Company fails to achieve the specified sales target, then the investors have the option to complete the conditional subscription agreements for the purchase of an additional 1,853,998 shares of common stock and 1,853,998 share purchase warrants exercisable at $2.00 per share expiring on July 1, 2020 for $2.00 per unit on or before January 15, 2019.
Common Stock [Member]
Common Stock (Textual)
Shares of common stock | shares		500,000						100,000
Proceeds from issuance of common stock		$ 500,000						$ 1,000
Subscription of common stock value								$ 60,000		$ 59,975
Subscription of common stock shares | shares								40,000		40,000
Subscription stock, price per share | $ / shares								$ 1.50		$ 1.50

Share Purchase Warrants (Detail

Share Purchase Warrants (Details)	9 Months Ended
	Dec. 31, 2018$ / sharesshares
Share Purchase Warrants [Abstract]
Number of warrants, Balance | shares	1,500,000
Number of warrants, Issued | shares	1,957,333
Number of warrants, Exercised | shares	(500,000)
Number of warrants, Balance | shares	2,957,333
Weighted average exercise price, Balance | $ / shares	$ 1
Weighted average exercise price, Issued | $ / shares	2.50
Weighted average exercise price, Exercised | $ / shares	1
Weighted average exercise price, Balance | $ / shares	$ 1.99

Share Purchase Warrants (Deta_2

Share Purchase Warrants (Details 1)	9 Months Ended
	Dec. 31, 2018$ / sharesshares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of warrants outstanding	2,957,333
Exercise price 2.50 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of warrants outstanding	1,957,333
Exercise price | $ / shares	$ 2.50
Expiry date	Jul. 1, 2020
Exercise price 1.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of warrants outstanding	1,000,000
Exercise price | $ / shares	$ 1
Expiry date	Nov. 23, 2019

Stock Options (Details)

Stock Options (Details) - USD ($)	9 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Number of options, Balance	537,500
Number of options, Granted	2,965,000	175,000
Number of options, Exercised	(150,000)
Number of options, Balance	3,352,500
Weighted average exercise price, Balance	$ 0.01
Weighted average exercise price, Granted	1.64
Weighted average exercise price, Exercised	0.01
Weighted average exercise price, Balance	$ 1.45
Aggregate intrinsic value, Balance	$ 478,375
Aggregate intrinsic value, Balance	$ 3,505,875

Stock Options (Details 1)

Stock Options (Details 1)	9 Months Ended
	Dec. 31, 2018$ / sharesshares
Outstanding and exercisable, Number of shares | shares	3,352,500
Outstanding and exercisable, Weighted average remaining contractual life (years)	2 years 7 months 6 days
Outstanding and exercisable, Weighted average exercise price	$ 1.45
Exercise price 0.01 [Member]
Outstanding and exercisable, Range of exercise prices	$ 0.01
Outstanding and exercisable, Number of shares | shares	487,500
Outstanding and exercisable, Weighted average remaining contractual life (years)	7 months 6 days
Outstanding and exercisable, Weighted average exercise price	$ 0.01
Exercise price 1.70 [Member]
Outstanding and exercisable, Range of exercise prices	$ 1.70
Outstanding and exercisable, Number of shares | shares	2,865,000
Outstanding and exercisable, Weighted average remaining contractual life (years)	2 years 10 months 25 days
Outstanding and exercisable, Weighted average exercise price	$ 1.70

Stock Options (Details 2)

Stock Options (Details 2)	9 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Risk-free interest rate	2.82%	1.45%
Expected life (in years)	3 years	2 years
Expected volatility	213.00%	251.00%

Stock Options (Details Textual)

Stock Options (Details Textual) - $ / shares	Jul. 17, 2018	Dec. 31, 2018	Dec. 31, 2017
Stock Options (Textual)
Stock options granted		2,965,000	175,000
Stock options are exercisable		$ 1.45
Options expiry date, description		The expiry date of the stock options was extended from July 18, 2018 to April 30, 2019.
Stock Options [Member]
Stock Options (Textual)
Stock options granted	312,500	4,744,382	78,165
Stock options are exercisable		$ 1.70	$ 1.60
Stock options exercisable term		3 years

Segmented Information (Details)

Segmented Information (Details) - USD ($)	Dec. 31, 2018	Mar. 31, 2018
Segmented Information (Textual)
Lease receivable	$ 1,995,000	$ 1,995,000
Property and equipment	8,731	15,800
Intangible assets	9,965,209	$ 10,622,068
Total non-current assets	11,968,940
United Kingdom [Member]
Segmented Information (Textual)
Lease receivable	1,995,000
Property and equipment
Intangible assets
Total non-current assets	1,995,000
United States [Member]
Segmented Information (Textual)
Lease receivable
Property and equipment	8,731
Intangible assets	9,965,209
Total non-current assets	9,973,940
China [Member]
Segmented Information (Textual)
Lease receivable
Property and equipment
Intangible assets
Total non-current assets

Commitments (Details)

Commitments (Details)	Dec. 31, 2018USD ($)
Commitments and Contingencies Disclosure [Abstract]
2,019	$ 15,529
2,020	39,339
Total	$ 54,868

Subsequent Event (Details)

Subsequent Event (Details) - USD ($)	1 Months Ended	9 Months Ended
	Jan. 09, 2019	Dec. 31, 2018	Dec. 31, 2017
Subsequent Event [Line Items]
Proceeds from shares of common stock		$ 3,556,975	$ 2,851,600
Subsequent Event [Member]
Subsequent Event [Line Items]
Proceeds from shares of common stock	$ 1,893,950
Shares of common stock	1,262,666
Subscription price per share	$ 1.50