AquaBounty (AQB) 10-Q 2 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Nov. 02, 2017
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Trading Symbol	AQB
Entity Registrant Name	Aquabounty Technologies, Inc.
Entity Central Index Key	1,603,978
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		8,895,094

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 4,717,821	$ 3,324,609
Certificate of deposit	13,489	10,666
Other receivables	219,334	164,743
Inventory	78,499	0
Prepaid expenses and other current assets	245,242	72,983
Total current assets	5,274,385	3,573,001
Property, plant and equipment, net	19,478,853	1,723,707
Definite-lived intangible assets, net	188,421	198,698
Indefinite-lived intangible assets	191,800	191,800
Other assets	162,093	21,628
Total assets	25,295,552	5,708,834
Current liabilities:
Accounts payable and accrued liabilities	1,602,396	1,017,851
Current debt	55,223	17,913
Total current liabilities	1,657,619	1,035,764
Long-term debt	3,059,990	2,645,015
Total liabilities	4,717,609	3,680,779
Commitments and contingencies
Stockholders’ equity:
Common stock, $0.001 par value, 200,000,000 shares authorized; 8,895,094 (2016: 6,463,936) shares outstanding	8,895	6,464
Additional paid-in capital	126,681,495	101,581,724
Accumulated other comprehensive loss	(243,188)	(286,272)
Accumulated deficit	(105,869,259)	(99,273,861)
Total stockholders’ equity	20,577,943	2,028,055
Total liabilities and stockholders’ equity	$ 25,295,552	$ 5,708,834

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, share authorized (in shares)	200,000,000	200,000,000
Common stock, shares outstanding (in shares)	8,895,094	6,463,936

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenues
Product revenues	$ 0	$ 0	$ 53,278	$ 0
Costs and expenses
Product costs	0	0	50,777	0
Sales and marketing	195,947	209,556	607,145	650,075
Research and development	860,903	974,980	2,517,242	2,705,978
General and administrative	1,382,380	824,381	3,453,516	2,428,044
Total costs and expenses	2,439,230	2,008,917	6,628,680	5,784,097
Operating loss	(2,439,230)	(2,008,917)	(6,575,402)	(5,784,097)
Other income (expense)
Gain on disposal of equipment	0	0	0	2,861
Interest expense	(5,597)	(131,301)	(16,130)	(238,940)
Other income (expense), net	(1,392)	(1,608)	(3,866)	(4,463)
Total other income (expense)	(6,989)	(132,909)	(19,996)	(240,542)
Net loss	(2,446,219)	(2,141,826)	(6,595,398)	(6,024,639)
Other comprehensive income (loss):
Foreign currency translation gain (loss)	34,933	13,659	43,084	(86,516)
Total other comprehensive income (loss)	34,933	13,659	43,084	(86,516)
Comprehensive loss	$ (2,411,286)	$ (2,128,167)	$ (6,552,314)	$ (6,111,155)
Basic and diluted net loss per share (in dollars per share)	$ (0.28)	$ (0.41)	$ (0.76)	$ (1.15)
Weighted average number of common shares -
basic and diluted (in shares)	8,895,094	5,250,510	8,731,178	5,249,776

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - 9 months ended Sep. 30, 2017 - USD ($)	Total	Common Stock	Additional paid-in capital	Accumulated other comprehensive loss	Accumulated deficit
Beginning Balance, outstanding (in shares) at Dec. 31, 2016		6,463,936
Beginning Balance at Dec. 31, 2016	$ 2,028,055	$ 6,464	$ 101,581,724	$ (286,272)	$ (99,273,861)
Beginning Balance, issued (in shares) at Dec. 31, 2016		6,463,936
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(6,595,398)				(6,595,398)
Other comprehensive loss	43,084			43,084
Issuance of common stock, net of expenses (in shares)		2,421,073
Issuance of common stock, net of expenses	$ 24,989,257	$ 2,421	24,986,836
Exercise of options for common stock (in shares)	8,334	8,334
Exercise of options for common stock	$ 27,502	$ 8	27,494
Share based compensation (in shares)		1,751
Share based compensation	85,443	$ 2	85,441
Ending Balance, outstanding (in shares) at Sep. 30, 2017		8,895,094
Ending Balance at Sep. 30, 2017	$ 20,577,943	$ 8,895	$ 126,681,495	$ (243,188)	$ (105,869,259)
Ending Balance, issued (in shares) at Sep. 30, 2017		8,895,094

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Operating activities
Net loss	$ (6,595,398)	$ (6,024,639)
Adjustment to reconcile net loss to net cash used in operating activities
Depreciation and amortization	137,229	109,207
Share-based compensation	85,443	166,478
Gain on disposal of equipment	0	(2,861)
Changes in operating assets and liabilities:
Other receivables	(43,346)	13,174
Inventory	(78,499)	0
Prepaid expenses and other assets	(309,986)	(27,313)
Accounts payable and accrued liabilities	128,917	332,254
Net cash used in operating activities	(6,675,640)	(5,433,700)
Investing activities
Purchase of property, plant and equipment	(17,235,184)	(757,402)
Proceeds from sale of equipment	0	23,844
Payment of patent costs	0	(5,665)
Net cash used in investing activities	(17,235,184)	(739,223)
Financing activities
Proceeds from issuance of debt	256,807	547,142
Repayment of term debt	(23,677)	(1,866)
Proceeds from the issuance of convertible debt	0	7,500,000
Proceeds from the issuance of common stock, net	24,989,257	0
Proceeds from the exercise of stock options	27,502	0
Net cash provided by financing activities	25,249,889	8,045,276
Effect of exchange rate changes on cash and cash equivalents	54,147	(2,249)
Net change in cash and cash equivalents	1,393,212	1,870,104
Cash and cash equivalents at beginning of period	3,324,609	1,313,421
Cash and cash equivalents at the end of period	4,717,821	3,183,525
Supplemental disclosure of cash flow information and non-cash transactions:
Interest paid in cash	16,130	1,440
Property and equipment included in accounts payable and accrued liabilities	$ 472,283	$ 0

Nature of business and organiza

Nature of business and organization	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of business and organization	Nature of business and organization AquaBounty Technologies, Inc. (the “Parent” and, together with its subsidiaries, the “Company”) was incorporated in December 1991 in the State of Delaware for the purpose of conducting research and development of the commercial viability of a group of proteins commonly known as antifreeze proteins. In 1996, the Parent obtained the exclusive licensing rights for a gene construct (transgene) used to create a breed of farm‑raised Atlantic salmon that exhibit growth rates that are substantially faster than traditional salmon. In 2015, the Parent obtained approval from the US Food and Drug Administration (the “FDA”) for the production, sale, and consumption of its AquAdvantage® Salmon product in the United States. In 2016, the Parent obtained approval from Health Canada, the department of the government of Canada responsible for national public health, for the sale and consumption of its AquAdvantage Salmon product in Canada. Previously, in 2013, the Parent obtained approval from Environment Canada, the agency of the government of Canada responsible for regulating environmental policies and issues, for the production of the product. AQUA Bounty Canada Inc. (the “Canadian Subsidiary”) was incorporated in January 1994 in Canada for the purpose of establishing a commercial biotechnology laboratory to conduct research and development programs related to the Parent’s technologies. AquaBounty Panama, S. de R.L. (the “Panama Subsidiary”) was incorporated in May 2008 in Panama for the purpose of conducting commercial trials of the Company’s AquAdvantage Salmon. AquaBounty Farms, Inc. (“AquaBounty Farms”) was incorporated in December 2014 in the State of Delaware for the purpose of conducting field trials and commercializing the Company’s AquAdvantage Salmon in the United States. AquaBounty Farms Indiana LLC (the “Indiana Subsidiary”) was formed in June 2017 in the State of Delaware for the purpose of operating the Company’s aquaculture facility in Albany, Indiana, and is wholly owned by AquaBounty Farms. AquaBounty Brasil Participações Ltda. (the “Brazil Subsidiary”) was incorporated in May 2015 in Brazil for the purpose of conducting commercial trials of the Company’s AquAdvantage Salmon.

Basis of presentation

Basis of presentation	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of presentation	Basis of presentation The unaudited interim consolidated financial statements include the accounts of AquaBounty Technologies, Inc. and its wholly owned direct and indirect subsidiaries, AQUA Bounty Canada Inc.; AquaBounty Panama, S. de R.L.; AquaBounty Farms, Inc.; AquaBounty Farms Indiana LLC; and AquaBounty Brasil Participações Ltda. All inter-company transactions and balances have been eliminated upon consolidation. The unaudited interim consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States (“GAAP”) consistent with those applied in, and should be read in conjunction with, the Company’s audited financial statements and related footnotes for the year ended December 31, 2016. The unaudited interim consolidated financial statements reflect all adjustments, consisting only of normal recurring adjustments, which are, in the opinion of management, necessary for a fair presentation of the Company’s financial position as of September 30, 2017, and its results of operations and cash flows for the interim periods presented and are not necessarily indicative of results for subsequent interim periods or for the full year. The unaudited interim consolidated financial statements do not include all of the information and footnotes required by GAAP for complete financial statements, as allowed by the relevant SEC rules and regulations; however, the Company believes that its disclosures are adequate to ensure that the information presented is not misleading. On January 5, 2017, the Company implemented a 1-for-30 reverse split of its outstanding common shares. All share balances in the unaudited interim consolidated financial statements and accompanying notes have been restated to reflect this change. Net loss per share Basic and diluted net loss per share available to common stockholders has been calculated by dividing net loss by the weighted average number of common shares outstanding during the year. Basic net loss is based solely on the number of common shares outstanding during the year. Fully diluted net loss per share includes the number of shares of common stock issuable upon the exercise of warrants and options with an exercise price less than the fair value of the common stock. Since the Company is reporting a net loss for all periods presented, all potential common shares are considered anti‑dilutive and are excluded from the calculation of diluted net loss per share. Accounting Pronouncements The Company has adopted Accounting Standards Update (“ASU”) 2017-01, “Business Combinations: Clarifying the Definition of a Business.” The revised guidance changes the definition of a business to assist entities with evaluating whether a set of transferred assets and activities is a business. The Company has adopted ASU 2014-09, “Revenue from Contracts with Customers,” which supersedes the revenue recognition requirements in Accounting Standard Codification (“ASC”) 605, “Revenue Recognition,” and most industry-specific guidance throughout the ASC. ASU 2014-09 established principles for recognizing revenue upon the transfer of promised goods or services to customers, in an amount that reflects the expected consideration received in exchange for those goods or services. The Company has adopted ASU 2015-11, “Inventory: Simplifying the Measurement of Inventory.” The main provision of the guidance is that an entity should measure inventory at the lower of cost or net realizable value (“NRV”), where NRV is defined as the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. The Company has adopted ASU 2016-09, “Compensation – Stock Compensation.” The areas for simplification in this update involve several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. Liquidity and Management’s Plan At September 30, 2017, the Company’s cash balance totaled $4.7 million . Management has evaluated the Company’s cash resources in view of its planned spending for ongoing operations, capital expenditures, and working capital for the next twelve months and has determined that its current funds will be used by the end of December 2017. However, management believes that the Company can continue as a going concern. Management’s assessment is based on its belief that the Company will be able to raise additional equity or debt to fund its requirements. Additionally, management could slow down spending to conserve the Company’s cash if there is a delay in obtaining new funding. Therefore, the accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business.

Risks and uncertainties

Risks and uncertainties	9 Months Ended
	Sep. 30, 2017
Risks and Uncertainties [Abstract]
Risks and uncertainties	Risks and uncertainties The Company is subject to risks and uncertainties common in the biotechnology and aquaculture industries. Such risks and uncertainties include, but are not limited to: (i) results from current and planned product development studies and trials; (ii) decisions made by the FDA or similar regulatory bodies in other countries with respect to approval and commercial sale of any of the Company’s proposed products; (iii) the commercial acceptance of any products approved for sale and the Company’s ability to manufacture, distribute, and sell for a profit any products approved for sale; (iv) the Company’s ability to obtain the necessary patents and proprietary rights to effectively protect its technologies; and (v) the outcome of any collaborations or alliances entered into by the Company. Concentration of credit risk Financial instruments that potentially subject the Company to credit risk consist principally of cash and cash equivalents and certificates of deposit. This risk is minimized by the Company’s policy of investing in financial instruments with short-term maturities issued by highly rated financial institutions. The Company’s cash balances may at times exceed insurance limitations. The Company holds cash balances in bank accounts located in Canada to fund its local operations. These amounts are subject to foreign currency exchange risk, which is mitigated by the Company’s policy to limit the balances held in these accounts. Balances in Canadian bank accounts totaled $85,005 at September 30, 2017 . Financial instruments The carrying amounts reported in the consolidated balance sheets for other receivables and accounts payable approximate fair value based on the short-term maturity of these instruments. As of September 30, 2017, the carrying value of term debt approximates its fair value since it provides for market terms and interest rates. Included in other assets is a long-term investment that consists of 216,281 shares of common stock of A/F Protein, Inc. (“AFP”), equating to less than 1% ownership, with a cost basis of $21,628 , which the Company believes to be the best estimate of market value.

Inventory

Inventory	9 Months Ended
	Sep. 30, 2017
Inventory Disclosure [Abstract]
Inventory	Inventory Major classifications of inventory are summarized as follows: September 30, December 31, 2017 2016 Feed $ 36,403 $ — Fish in process 42,096 — Total inventory $ 78,499 $ —

Property, plant and equipment

Property, plant and equipment	9 Months Ended
	Sep. 30, 2017
Property, Plant and Equipment [Abstract]
Property, plant and equipment	Property, plant and equipment Major classifications of property, plant and equipment are summarized as follows: September 30, December 31, 2017 2016 Land $ 665,733 $ 157,107 Building and improvements 8,618,289 1,436,814 Construction in process 3,731,112 277,352 Equipment 7,873,930 1,037,549 Office furniture and equipment 81,521 78,780 Vehicles 29,311 27,201 Total property and equipment $ 20,999,896 $ 3,014,803 Less accumulated depreciation and amortization (1,521,043 ) (1,291,096 ) Property, plant and equipment, net $ 19,478,853 $ 1,723,707 Depreciation and amortization expense was $126,951 and $99,196 for the nine months ended September 30, 2017 and 2016 , respectively. Included as construction in process is $3.7 million for renovation and new construction costs incurred at our Rollo Bay farm site. The Company currently has an additional $2.1 million committed to these renovations. On June 22, 2017, the Company purchased the aquaculture facility of Bell Fish Company LLC in Albany, Indiana, for $14.2 million , including legal and other expenses incurred. The facility and related assets acquired from Bell Fish Company LLC provide one input into the Company's process for growing its product, and, accordingly, the purchase of the facility was accounted for as an asset purchase rather than the acquisition of a “business,” consistent with ASU 2017-01, “Business Combinations: Clarifying the Definition of a Business.” There are no future obligations related to the asset purchase for the Company, no liabilities were assumed, and no workforce, inventory, or customers were acquired. The Company allocated the purchase price to land, buildings, and equipment based on external valuations and management’s estimates. The Company intends to invest approximately $5.0 million to upgrade the facility for use to grow out its AquAdvantage Salmon for harvest and sale in the United States. The facility is currently idle while repairs and upgrades are performed.

Accounts payable and accrued li

Accounts payable and accrued liabilities	9 Months Ended
	Sep. 30, 2017
Payables and Accruals [Abstract]
Accounts payable and accrued liabilities	Accounts payable and accrued liabilities Accounts payable and accrued liabilities include the following: September 30, December 31, 2017 2016 Accounts payable $ 490,840 $ 161,768 Accrued payroll including vacation 316,588 242,436 Accrued professional fees 211,232 500,430 Accrued research and development costs 65,000 87,751 Accrued taxes 126,990 22,994 Accrued construction costs 387,038 — Accrued other 4,708 2,472 Accounts payable and accrued liabilities $ 1,602,396 $ 1,017,851

Debt

Debt	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Debt	Debt The current material terms and conditions of debt outstanding are as follows: Interest Monthly Maturity September 30, 2017 December 31, 2016 ACOA AIF grant (C$2,871,919) 0% Royalties - $ 2,301,556 $ 2,135,846 ACOA term loan (C$337,000) 0% C$3,120 June 2026 260,071 — Finance PEI term loan (C$717,093) 4% C$4,333 July 2021 553,586 527,082 Total debt $ 3,115,213 $ 2,662,928 less: current portion (55,223 ) (17,913 ) Long-term debt $ 3,059,990 $ 2,645,015 Estimated principal payments remaining on loan debt are as follows (1): Year Total 2017 $ 12,414 2018 60,094 2019 60,912 2020 349,662 2021 2,499,578 Thereafter 132,553 Total $ 3,115,213 (1) Repayments of the AIF grants are based on revenue projections for AquAdvantage Salmon. Atlantic Canada Opportunities Agency (“ACOA”) ACOA is a Canadian government agency that provides funding to support the development of businesses and to promote employment in the Atlantic region of Canada. In January 2009, the Canadian Subsidiary was awarded a grant from ACOA to provide a contribution towards the funding of a research and development project. The total amount claimed under the award over the five -year claim period was $2,301,556 . No further funds are available under this grant. Amounts claimed by the Canadian Subsidiary must be repaid in the form of a 10% royalty on any products that are commercialized out of this research project until the loan is fully repaid. The Company expects to make its first repayment in 2018. In February 2016, the Canadian Subsidiary executed an agreement with ACOA to partially finance the renovations to the Rollo Bay site. The terms of the agreement include funding up to $270,072 with repayment commencing after the final draw-down of the funds. The loan term is nine years with a zero percent interest rate. As of September 30, 2017, the Canadian Subsidiary has drawn down the full amount of available funds and commenced repayment. Finance PEI (“FPEI”) FPEI is a corporation of the Ministry of Economic Development and Tourism for Prince Edward Island, Canada, and administers business financing programs for the provincial government. In August 2016, the Canadian Subsidiary obtained a loan from FPEI in the amount of $574,678 to partially finance the purchase of the assets of the former Atlantic Sea Smolt plant in Rollo Bay West on Prince Edward Island. The loan is being repaid through monthly payments of principal and interest with a balloon payment for the balance due in July 2021. The loan is collateralized by a mortgage executed by the Canadian Subsidiary, which conveys a first security interest in all of its current and acquired assets. The loan is guaranteed by the Parent. The Company recognized interest expense of $16,112 and $238,931 for the nine months ended September 30, 2017 and 2016 , respectively, on its interest-bearing debt. Interest expense in 2016 included $237,500 for the convertible debt facility with Intrexon Corporation (“Intrexon”), its majority shareholder.

Stockholders' equity

Stockholders' equity	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Stockholders' equity	Stockholders’ equity The Company is presently authorized to issue up to 240 million shares of stock, of which 40 million are authorized as preferred stock and 200 million as common stock. Common stock The holders of the common stock are entitled to one vote for each share held at all meetings of stockholders. Dividends and distribution of assets of the Company in the event of liquidation are subject to the preferential rights of any outstanding preferred shares. Restricted stock The Company grants restricted common stock to the Chairman of the Board of Directors as part of his compensation package. Generally, the shares are fully vested upon the third anniversary of the grant date. Unvested shares can be canceled upon termination of the Chairman’s services. A summary of the Company’s unvested shares of restricted stock as of September 30, 2017 , is as follows: Shares Weighted average grant date fair value Unvested at December 31, 2016 4,169 $ 7.72 Granted 1,751 14.20 Vested (2,378 ) 8.09 Unvested at September 30, 2017 3,542 $ 10.68 During the nine months ended September 30, 2017 and 2016 , the Company expensed $19,235 and $13,165 , respectively, related to the Chairman’s restricted stock awards. At September 30, 2017 , the balance of unearned share-based compensation to be expensed in future periods related to the restricted stock awards is $37,817 . The period over which the unearned share-based compensation is expected to be earned is approximately 2.4 years. Stock options In 2006, the Company established its 2006 Equity Incentive Plan (the “2006 Plan”). The 2006 Plan provided for the issuance of incentive stock options to employees of the Company and non‑qualified stock options and awards of restricted stock to directors, officers, employees, and consultants of the Company. In accordance with its original terms, no further shares may be granted under the 2006 Plan subsequent to March 18, 2016. All outstanding awards under the 2006 Plan will continue until their individual termination dates. In March 2016, the Company’s Board of Directors adopted the AquaBounty Technologies, Inc. 2016 Equity Incentive Plan (the “2016 Plan”) to replace the 2006 Plan. The 2016 Plan provides for the issuance of incentive stock options, non‑qualified stock options, and awards of restricted and direct stock purchases to directors, officers, employees, and consultants of the Company. The aggregate number of shares of common stock that may be issued pursuant to awards granted under the 2016 Plan cannot exceed 450,000 . The 2016 Plan was approved by the Company’s shareholders at its Annual Meeting on April 26, 2016. The Company’s option activity under the 2006 Plan and the 2016 Plan is summarized as follows: Number of Weighted Outstanding at December 31, 2016 185,591 $ 7.89 Issued 52,500 14.20 Exercised (8,334 ) 3.30 Expired (2,554 ) 19.50 Outstanding at September 30, 2017 227,203 $ 9.39 Exercisable at September 30, 2017 183,373 $ 8.28 Unless otherwise indicated, options issued to employees, members of the Board of Directors, and non-employees are vested over one to three years and are exercisable for a term of ten years from the date of issuance. The weighted average fair value of stock options granted during the nine months ended September 30, 2017, was $4.55 . The intrinsic value of options exercised during the nine months ended September 30, 2017, was $43,420 . The total intrinsic value of all options outstanding was $325,754 and $602,773 at September 30, 2017 , and December 31, 2016 , respectively. The total intrinsic value of exercisable options was $325,310 and $597,872 at September 30, 2017 , and December 31, 2016 , respectively. The following table summarizes information about options outstanding and exercisable at September 30, 2017 : Weighted average exercise price of outstanding options Number of options outstanding Weighted average remaining estimated life (in years) Number of options exercisable Weighted average exercise price of outstanding and exercisable options $3.30 79,337 1.8 79,337 $3.60 800 4.8 800 $5.70 10,336 7.4 10,132 $6.90 29,038 3.7 28,296 $7.50 15,837 5.6 15,837 $9.60 8,300 7.9 8,300 $9.90 800 0.8 800 $10.50 1,600 5.8 1,600 $10.80 2,400 6.8 2,400 $14.20 52,500 9.6 9,616 $23.40 26,255 6.3 26,255 227,203 183,373 $8.28 Total share-based compensation on stock-option grants amounted to $66,208 and $153,313 for the nine months ended September 30, 2017 and 2016 , respectively. At September 30, 2017 , the balance of unearned share-based compensation to be expensed in future periods related to unvested share-based awards was $186,921 . The period over which the unearned share-based compensation is expected to be earned is approximately 2.4 years.

Commitments and contingencies

Commitments and contingencies	9 Months Ended
	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Commitments and contingencies The Company recognizes and discloses commitments when it enters into executed contractual obligations with other parties. The Company accrues contingent liabilities when it is probable that future expenditures will be made and such expenditures can be reasonably estimated. In July 2017, the Company extended the lease for its office space in Maynard, Massachusetts. The new lease for 3,558 square feet of office space has a term of five years and seven months, ending March 2023, with total annual rent payments of approximately $60 thousand increasing to $68 thousand during the term of the lease. The lease includes a period of free rent totaling $26,830 , which is being amortized over the lease term. There have been no other material changes to the commitments and contingencies disclosed in our annual report on Form 10-K as of and for the year ended December 31, 2016.

Related Party Collaboration Agr

Related Party Collaboration Agreement	9 Months Ended
	Sep. 30, 2017
Related Party Transactions [Abstract]
Related Party Collaboration Agreement	Related Party Collaboration Agreement In February 2013, the Company entered into an Exclusive Channel Collaboration agreement (“ECC”) with Intrexon pursuant to which the Company will use Intrexon’s UltraVector and other technology platforms to develop and commercialize additional genetically modified traits in finfish for human consumption. Total Intrexon service costs incurred under the terms of this agreement for the nine months ended September 30, 2017 and 2016 , amounted to $447,382 and $717,141 , respectively, and are included as a component of research and development expense in our Consolidated Statements of Operations and Comprehensive Loss. Included in accounts payable and accrued liabilities at September 30, 2017 , and December 31, 2016 , are amounts due to Intrexon under the ECC totaling $65,000 and $73,780 , respectively.

Basis of presentation (Policies

Basis of presentation (Policies)	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidation	The unaudited interim consolidated financial statements include the accounts of AquaBounty Technologies, Inc. and its wholly owned direct and indirect subsidiaries, AQUA Bounty Canada Inc.; AquaBounty Panama, S. de R.L.; AquaBounty Farms, Inc.; AquaBounty Farms Indiana LLC; and AquaBounty Brasil Participações Ltda. All inter-company transactions and balances have been eliminated upon consolidation.
Basis of presentation	The unaudited interim consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States (“GAAP”) consistent with those applied in, and should be read in conjunction with, the Company’s audited financial statements and related footnotes for the year ended December 31, 2016. The unaudited interim consolidated financial statements reflect all adjustments, consisting only of normal recurring adjustments, which are, in the opinion of management, necessary for a fair presentation of the Company’s financial position as of September 30, 2017, and its results of operations and cash flows for the interim periods presented and are not necessarily indicative of results for subsequent interim periods or for the full year. The unaudited interim consolidated financial statements do not include all of the information and footnotes required by GAAP for complete financial statements, as allowed by the relevant SEC rules and regulations; however, the Company believes that its disclosures are adequate to ensure that the information presented is not misleading.
Net loss per share	Basic and diluted net loss per share available to common stockholders has been calculated by dividing net loss by the weighted average number of common shares outstanding during the year. Basic net loss is based solely on the number of common shares outstanding during the year. Fully diluted net loss per share includes the number of shares of common stock issuable upon the exercise of warrants and options with an exercise price less than the fair value of the common stock. Since the Company is reporting a net loss for all periods presented, all potential common shares are considered anti‑dilutive and are excluded from the calculation of diluted net loss per share.
Accounting Pronouncements	The Company has adopted Accounting Standards Update (“ASU”) 2017-01, “Business Combinations: Clarifying the Definition of a Business.” The revised guidance changes the definition of a business to assist entities with evaluating whether a set of transferred assets and activities is a business. The Company has adopted ASU 2014-09, “Revenue from Contracts with Customers,” which supersedes the revenue recognition requirements in Accounting Standard Codification (“ASC”) 605, “Revenue Recognition,” and most industry-specific guidance throughout the ASC. ASU 2014-09 established principles for recognizing revenue upon the transfer of promised goods or services to customers, in an amount that reflects the expected consideration received in exchange for those goods or services. The Company has adopted ASU 2015-11, “Inventory: Simplifying the Measurement of Inventory.” The main provision of the guidance is that an entity should measure inventory at the lower of cost or net realizable value (“NRV”), where NRV is defined as the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. The Company has adopted ASU 2016-09, “Compensation – Stock Compensation.” The areas for simplification in this update involve several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows.

Inventory (Tables)

Inventory (Tables)	9 Months Ended
	Sep. 30, 2017
Inventory Disclosure [Abstract]
Major classifications of inventory	Major classifications of inventory are summarized as follows: September 30, December 31, 2017 2016 Feed $ 36,403 $ — Fish in process 42,096 — Total inventory $ 78,499 $ —

Property, plant and equipment (

Property, plant and equipment (Tables)	9 Months Ended
	Sep. 30, 2017
Property, Plant and Equipment [Abstract]
Major classifications of property, plant and equipment	Major classifications of property, plant and equipment are summarized as follows: September 30, December 31, 2017 2016 Land $ 665,733 $ 157,107 Building and improvements 8,618,289 1,436,814 Construction in process 3,731,112 277,352 Equipment 7,873,930 1,037,549 Office furniture and equipment 81,521 78,780 Vehicles 29,311 27,201 Total property and equipment $ 20,999,896 $ 3,014,803 Less accumulated depreciation and amortization (1,521,043 ) (1,291,096 ) Property, plant and equipment, net $ 19,478,853 $ 1,723,707

Accounts payable and accrued 20

Accounts payable and accrued liabilities (Tables)	9 Months Ended
	Sep. 30, 2017
Payables and Accruals [Abstract]
Schedule of accounts payable and accrued liabilities	Accounts payable and accrued liabilities include the following: September 30, December 31, 2017 2016 Accounts payable $ 490,840 $ 161,768 Accrued payroll including vacation 316,588 242,436 Accrued professional fees 211,232 500,430 Accrued research and development costs 65,000 87,751 Accrued taxes 126,990 22,994 Accrued construction costs 387,038 — Accrued other 4,708 2,472 Accounts payable and accrued liabilities $ 1,602,396 $ 1,017,851

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Schedule of debt	The current material terms and conditions of debt outstanding are as follows: Interest Monthly Maturity September 30, 2017 December 31, 2016 ACOA AIF grant (C$2,871,919) 0% Royalties - $ 2,301,556 $ 2,135,846 ACOA term loan (C$337,000) 0% C$3,120 June 2026 260,071 — Finance PEI term loan (C$717,093) 4% C$4,333 July 2021 553,586 527,082 Total debt $ 3,115,213 $ 2,662,928 less: current portion (55,223 ) (17,913 ) Long-term debt $ 3,059,990 $ 2,645,015
Schedule of maturities of debt	Estimated principal payments remaining on loan debt are as follows (1): Year Total 2017 $ 12,414 2018 60,094 2019 60,912 2020 349,662 2021 2,499,578 Thereafter 132,553 Total $ 3,115,213 (1) Repayments of the AIF grants are based on revenue projections for AquAdvantage Salmon.

Stockholders' equity (Tables)

Stockholders' equity (Tables)	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Schedule of restricted stock activity	A summary of the Company’s unvested shares of restricted stock as of September 30, 2017 , is as follows: Shares Weighted average grant date fair value Unvested at December 31, 2016 4,169 $ 7.72 Granted 1,751 14.20 Vested (2,378 ) 8.09 Unvested at September 30, 2017 3,542 $ 10.68
Schedule of stock option activity	The Company’s option activity under the 2006 Plan and the 2016 Plan is summarized as follows: Number of Weighted Outstanding at December 31, 2016 185,591 $ 7.89 Issued 52,500 14.20 Exercised (8,334 ) 3.30 Expired (2,554 ) 19.50 Outstanding at September 30, 2017 227,203 $ 9.39 Exercisable at September 30, 2017 183,373 $ 8.28
Summary of options outstanding and exercisable	The following table summarizes information about options outstanding and exercisable at September 30, 2017 : Weighted average exercise price of outstanding options Number of options outstanding Weighted average remaining estimated life (in years) Number of options exercisable Weighted average exercise price of outstanding and exercisable options $3.30 79,337 1.8 79,337 $3.60 800 4.8 800 $5.70 10,336 7.4 10,132 $6.90 29,038 3.7 28,296 $7.50 15,837 5.6 15,837 $9.60 8,300 7.9 8,300 $9.90 800 0.8 800 $10.50 1,600 5.8 1,600 $10.80 2,400 6.8 2,400 $14.20 52,500 9.6 9,616 $23.40 26,255 6.3 26,255 227,203 183,373 $8.28

Basis of presentation (Details)

Basis of presentation (Details)	Jan. 05, 2017	Sep. 30, 2017USD ($)	Dec. 31, 2016USD ($)	Sep. 30, 2016USD ($)	Dec. 31, 2015USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Reverse stock split of outstanding common shares	0.0333
Cash balance		$ 4,717,821	$ 3,324,609	$ 3,183,525	$ 1,313,421

Risks and uncertainties (Detail

Risks and uncertainties (Details)	Sep. 30, 2017USD ($)shares
A/F Protein, Inc.
Concentration Risk [Line Items]
Long-term investment (in shares) | shares	216,281
Ownership percentage (less than)	1.00%
Cost basis	$ 21,628
Concentration of credit risk | Cash | Canada
Concentration Risk [Line Items]
Deposits in Canadian bank accounts	$ 85,005

Inventory (Details)

Inventory (Details) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Inventory [Line Items]
Inventory	$ 78,499	$ 0
Feed
Inventory [Line Items]
Inventory	36,403	0
Fish in process
Inventory [Line Items]
Inventory	$ 42,096	$ 0

Property, plant and equipment -

Property, plant and equipment - Schedule of property, plant and equipment (Details) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 20,999,896	$ 3,014,803
Less accumulated depreciation and amortization	(1,521,043)	(1,291,096)
Property, plant and equipment, net	19,478,853	1,723,707
Land
Property, Plant and Equipment [Line Items]
Total property and equipment	665,733	157,107
Building and improvements
Property, Plant and Equipment [Line Items]
Total property and equipment	8,618,289	1,436,814
Construction in process
Property, Plant and Equipment [Line Items]
Total property and equipment	3,731,112	277,352
Equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	7,873,930	1,037,549
Office furniture and equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	81,521	78,780
Vehicles
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 29,311	$ 27,201

Property, plant and equipment27

Property, plant and equipment - Additional Information (Details) - USD ($)	Jun. 22, 2017	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense		$ 126,951	$ 99,196
Total property and equipment		20,999,896		$ 3,014,803
Purchase of land, buildings, and equipment		17,235,184	$ 757,402
Capital Additions | Rollo Bay farm site
Property, Plant and Equipment [Line Items]
Additional amount committed to renovations		3,700,000
Construction in process
Property, Plant and Equipment [Line Items]
Total property and equipment		3,731,112		$ 277,352
Construction in process | Rollo Bay farm site
Property, Plant and Equipment [Line Items]
Total property and equipment		2,100,000
Facility | Bell Fish Company, LLC aquaculture facility
Property, Plant and Equipment [Line Items]
Purchase of land, buildings, and equipment	$ 14,200,000
Future obligations	0
Liabilities assumed	$ 0
Facility | Capital Additions | Bell Fish Company, LLC aquaculture facility
Property, Plant and Equipment [Line Items]
Additional amount committed to renovations		$ 5,000,000

Accounts payable and accrued 28

Accounts payable and accrued liabilities (Details) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Payables and Accruals [Abstract]
Accounts payable	$ 490,840	$ 161,768
Accrued payroll including vacation	316,588	242,436
Accrued professional fees	211,232	500,430
Accrued research and development costs	65,000	87,751
Accrued taxes	126,990	22,994
Accrued construction costs	387,038	0
Accrued other	4,708	2,472
Accounts payable and accrued liabilities	$ 1,602,396	$ 1,017,851

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details)	9 Months Ended
	Sep. 30, 2017CAD	Sep. 30, 2017USD ($)	Sep. 30, 2017CAD	Dec. 31, 2016USD ($)	Dec. 31, 2016CAD	Aug. 31, 2016USD ($)	Feb. 29, 2016	Jan. 31, 2009USD ($)
Debt Instrument [Line Items]
Total		$ 3,115,213		$ 2,662,928
less: current portion		(55,223)		(17,913)
Long-term debt		$ 3,059,990		2,645,015
Government grant | ACOA AIF Grant
Debt Instrument [Line Items]
Interest rate		0.00%	0.00%
Total		$ 2,301,556	CAD 2,871,919	2,135,846	CAD 2,871,919			$ 2,301,556
Term loan | ACOA Term Loan
Debt Instrument [Line Items]
Interest rate		0.00%	0.00%				0.00%
Monthly repayment | CAD	CAD 3,120
Total		$ 260,071	CAD 337,000	0
Term loan | Finance PEI Term Loan
Debt Instrument [Line Items]
Interest rate		4.00%	4.00%
Monthly repayment | CAD	CAD 4,333
Total		$ 553,586	CAD 717,093	$ 527,082	CAD 717,093	$ 574,678

Debt - Debt Maturities (Details

Debt - Debt Maturities (Details) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Year
2,017	$ 12,414
2,018	60,094
2,019	60,912
2,020	349,662
2,021	2,499,578
Thereafter	132,553
Total	$ 3,115,213	$ 2,662,928

Debt - Additional Information (

Debt - Additional Information (Details)	1 Months Ended		9 Months Ended
	Feb. 29, 2016USD ($)	Jan. 31, 2009USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017CAD	Dec. 31, 2016USD ($)	Dec. 31, 2016CAD	Aug. 31, 2016USD ($)
Debt Instrument [Line Items]
Total long-term debt claimed			$ 3,115,213			$ 2,662,928
Interest expense on debt			16,112	$ 238,931
Government grant | ACOA AIF Grant
Debt Instrument [Line Items]
Debt instrument term (in years)		5 years
Total long-term debt claimed		$ 2,301,556	$ 2,301,556		CAD 2,871,919	2,135,846	CAD 2,871,919
Royalty (as a percent)		10.00%
Interest rate			0.00%		0.00%
Term loan | ACOA Term Loan
Debt Instrument [Line Items]
Debt instrument term (in years)	9 years
Total long-term debt claimed			$ 260,071		CAD 337,000	0
Maximum borrowing capacity	$ 270,072
Interest rate	0.00%		0.00%		0.00%
Term loan | Finance PEI Term Loan
Debt Instrument [Line Items]
Total long-term debt claimed			$ 553,586		CAD 717,093	$ 527,082	CAD 717,093	$ 574,678
Interest rate			4.00%		4.00%
Convertible Debt
Debt Instrument [Line Items]
Interest expense on debt				$ 237,500

Stockholders' equity - Addition

Stockholders' equity - Additional Information (Details)	9 Months Ended
	Sep. 30, 2017USD ($)vote$ / sharesshares	Sep. 30, 2016USD ($)shares	Dec. 31, 2016USD ($)shares
Equity [Abstract]
Total authorized shares (in shares) | shares	240,000,000
Preferred stock, share authorized (in shares) | shares	40,000,000
Common stock, share authorized (in shares) | shares	200,000,000		200,000,000
Number of votes per share of common stock | vote	1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value of stock options granted (in dollars per share) | $ / shares	$ 4.55
Intrinsic value of options exercised in period	$ 43,420
Intrinsic value of options outstanding	325,754		$ 602,773
Intrinsic value of options exercisable	325,310		$ 597,872
Unearned share-based compensation expense to be expensed in future periods	186,921
2016 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock authorized for issuance (in shares) | shares		450,000
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unearned share-based compensation expense	$ 37,817
Period of recognition	2 years 4 months 24 days
Award vesting period	3 years
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	$ 66,208	$ 153,313
Period of recognition	2 years 4 months 24 days
Expiration period	10 years
Employee Stock Option | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	1 year
Employee Stock Option | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Chairman | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	$ 19,235	$ 13,165

Stockholders' equity - Restrict

Stockholders' equity - Restricted stock activity (Details) - Restricted Stock	9 Months Ended
	Sep. 30, 2017$ / sharesshares
Shares
Unvested, beginning balance (in shares) | shares	4,169
Granted (in shares) | shares	1,751
Vested (in shares) | shares	(2,378)
Unvested, ending balance (in shares) | shares	3,542
Weighted average grant date fair value
Unvested, beginning balance (in dollars per share) | $ / shares	$ 7.72
Granted (in dollars per share) | $ / shares	14.20
Vested (in dollars per share) | $ / shares	8.09
Unvested, ending balance (in dollars per share) | $ / shares	$ 10.68

Stockholders' equity - Stock op

Stockholders' equity - Stock option activity (Details)	9 Months Ended
	Sep. 30, 2017$ / sharesshares
Number of options
Outstanding, beginning balance (in shares) | shares	185,591
Issued (in shares) | shares	52,500
Exercised (in shares) | shares	(8,334)
Expired (in shares) | shares	(2,554)
Outstanding, ending balance (in shares) | shares	227,203
Exercisable (in shares) | shares	183,373
Weighted average exercise price
Outstanding, beginning balance (in dollars per share) | $ / shares	$ 7.89
Issued (in dollars per share) | $ / shares	14.20
Exercised (in dollars per share) | $ / shares	3.30
Expired (in dollars per share) | $ / shares	19.50
Outstanding, ending balance (in dollars per share) | $ / shares	9.39
Exercisable (in dollars per share) | $ / shares	$ 8.28

Stockholders' equity - Summary

Stockholders' equity - Summary of options outstanding and exercisable (Details)	9 Months Ended
	Sep. 30, 2017$ / sharesshares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average price of outstanding options (in dollars per share) | $ / shares	$ 8.28
Number of options outstanding (in shares)	227,203
Number of options exercisable (in shares)	183,373
Weighted average exercise price of exercisable options (in dollars per share) | $ / shares	$ 8.17
$ 3.30
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average price of outstanding options (in dollars per share) | $ / shares	$ 3.30
Number of options outstanding (in shares)	79,337
Weighted average remaining estimated life (in years)	1 year 9 months 18 days
Number of options exercisable (in shares)	79,337
$ 3.60
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average price of outstanding options (in dollars per share) | $ / shares	$ 3.60
Number of options outstanding (in shares)	800
Weighted average remaining estimated life (in years)	4 years 9 months 18 days
Number of options exercisable (in shares)	800
$ 5.70
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average price of outstanding options (in dollars per share) | $ / shares	$ 5.70
Number of options outstanding (in shares)	10,336
Weighted average remaining estimated life (in years)	7 years 4 months 24 days
Number of options exercisable (in shares)	10,132
$ 6.90
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average price of outstanding options (in dollars per share) | $ / shares	$ 6.90
Number of options outstanding (in shares)	29,038
Weighted average remaining estimated life (in years)	3 years 8 months 12 days
Number of options exercisable (in shares)	28,296
$ 7.50
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average price of outstanding options (in dollars per share) | $ / shares	$ 7.50
Number of options outstanding (in shares)	15,837
Weighted average remaining estimated life (in years)	5 years 7 months 6 days
Number of options exercisable (in shares)	15,837
$ 9.60
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average price of outstanding options (in dollars per share) | $ / shares	$ 9.60
Number of options outstanding (in shares)	8,300
Weighted average remaining estimated life (in years)	7 years 10 months 24 days
Number of options exercisable (in shares)	8,300
$ 9.90
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average price of outstanding options (in dollars per share) | $ / shares	$ 9.90
Number of options outstanding (in shares)	800
Weighted average remaining estimated life (in years)	9 months 18 days
Number of options exercisable (in shares)	800
$ 10.50
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average price of outstanding options (in dollars per share) | $ / shares	$ 10.50
Number of options outstanding (in shares)	1,600
Weighted average remaining estimated life (in years)	5 years 9 months 18 days
Number of options exercisable (in shares)	1,600
$ 10.80
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average price of outstanding options (in dollars per share) | $ / shares	$ 10.80
Number of options outstanding (in shares)	2,400
Weighted average remaining estimated life (in years)	6 years 9 months 18 days
Number of options exercisable (in shares)	2,400
$ 14.20
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average price of outstanding options (in dollars per share) | $ / shares	$ 14.20
Number of options outstanding (in shares)	52,500
Weighted average remaining estimated life (in years)	9 years 7 months 6 days
Number of options exercisable (in shares)	9,616
$ 23.40
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average price of outstanding options (in dollars per share) | $ / shares	$ 23.40
Number of options outstanding (in shares)	26,255
Weighted average remaining estimated life (in years)	6 years 3 months 18 days
Number of options exercisable (in shares)	26,255

Commitments and contingencies C

Commitments and contingencies Commitments and Contingencies (Details) - Office Space Located in Maynard, Massachusetts	1 Months Ended
	Jul. 31, 2017USD ($)ft²
Operating Leased Assets [Line Items]
Square feet of office space | ft²	3,558
Term of contract	5 years 7 months
Initial annual rent payments	$ 60,000
Future annual rent payments	68,000
Free rent period, lease amount	$ 26,830

Related Party Collaboration A37

Related Party Collaboration Agreement (Details) - Intrexon Corporation - ECC Agreement - USD ($)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Accounts Payable and Accrued Liabilities
Related Party Transaction [Line Items]
Accounts payable and accrued liabilities	$ 65,000		$ 73,780
Research and Development Expense
Related Party Transaction [Line Items]
Service costs incurred	$ 447,382	$ 717,141