Document and Entity Information
Document and Entity Information | 21 Months Ended |
Dec. 31, 2015 | |
Document Type | S1 |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2015 |
Trading Symbol | hsm |
Entity Registrant Name | HELIUS MEDICAL TECHNOLOGIES, INC. |
Entity Central Index Key | 1,610,853 |
Current Fiscal Year End Date | --03-31 |
Entity Filer Category | Non-accelerated Filer |
Entity Current Reporting Status | Yes |
Entity Voluntary Filers | No |
Entity Well Known Seasoned Issuer | No |
Document Fiscal Year Focus | 2,016 |
Document Fiscal Period Focus | FY |
Interim Condensed Consolidated
Interim Condensed Consolidated Balance Sheets - USD ($) | Dec. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2014 |
Current assets | |||
Cash and cash equivalents | $ 4,350,350 | $ 418,893 | $ 15,968 |
Short-term investment | 0 | 378,000 | 0 |
Receivables | 121,586 | 8,833 | 0 |
Prepaid expenses | 783,562 | 410,621 | 300,000 |
Total current assets | 5,255,498 | 1,216,347 | 315,968 |
TOTAL ASSETS | 5,255,498 | 1,216,347 | 315,968 |
Current liabilities | |||
Accounts payable and accrued liabilities | 1,413,579 | 1,197,804 | 215,921 |
Obligation to issue shares and warrants | 5,000,000 | 0 | |
Convertible debenture | 0 | 368,024 | |
Total current liabilities | 6,413,579 | 1,197,804 | 583,945 |
Derivative liability | 898,128 | 1,581,444 | 0 |
TOTAL LIABILITIES | 7,311,707 | 2,779,248 | 583,945 |
CAPITAL DEFICIT | |||
Common stock (Unlimited Class A common shares authorized); (66,637,653 shares outstanding at December 31, 2015 and 63,104,788 shares outstanding at March 31, 2015) | 20,125,864 | 16,358,093 | 8,510,000 |
Additional paid-in capital | 2,155,199 | 2,434,552 | 807,157 |
Shares to be issued | 0 | 39,545 | 0 |
Accumulated other comprehensive income | (1,862,329) | (971,640) | 0 |
Accumulated deficit | (22,474,943) | (19,423,451) | (9,585,134) |
TOTAL CAPITAL DEFICIT | (2,056,209) | (1,562,901) | (267,977) |
TOTAL LIABILITIES & CAPITAL DEFICIT | $ 5,255,498 | $ 1,216,347 | $ 315,968 |
Interim Condensed Consolidated3
Interim Condensed Consolidated Balance Sheets (Parenthetical) - shares | Dec. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2014 |
Common Stock, Shares Authorized | |||
Common Stock, Shares, Outstanding | 66,637,653 | 63,104,788 | 32,070,052 |
Interim Condensed Consolidated4
Interim Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2013 | |
Operating Expenses | |||||||
Advertising, marketing & investor relations | $ 161,594 | $ 175,325 | $ 710,175 | $ 579,507 | $ 774,400 | $ 0 | $ 0 |
Audit & accounting | 36,976 | 4,457 | 141,176 | 45,938 | 71,340 | 0 | 0 |
Consulting fees | 59,504 | 901,190 | 140,498 | 1,167,543 | 1,358,070 | 807,385 | 4,252,800 |
Insurance | 30,018 | 22,287 | 90,022 | 52,060 | 75,425 | 0 | 0 |
Legal fees | 761,752 | 500,028 | 1,260,798 | 1,064,453 | 1,478,766 | 33,966 | 14,192 |
Meals & travel | 118,155 | 102,098 | 245,825 | 209,150 | 272,338 | 22,860 | 376 |
Office & general | 30,369 | 45,466 | 83,133 | 163,762 | 166,282 | 8,137 | 482 |
Professional fees | 14,136 | 0 | 0 | ||||
Research & development | 1,291,605 | 1,191,806 | 2,664,063 | 3,196,346 | 4,500,073 | 171,781 | 4,250,000 |
Transfer agent & regulatory | 35,635 | 17,242 | 84,587 | 76,215 | 104,214 | 0 | 0 |
Wages and salaries | 315,049 | 132,119 | 981,827 | 684,375 | 993,400 | 23,155 | 0 |
Loss from operations | (2,840,657) | (3,092,018) | (6,402,104) | (7,239,349) | (9,808,444) | (1,067,284) | (8,517,850) |
Other items | |||||||
Interest and accretion expense | (26,108) | 0 | (26,108) | (176,488) | (176,488) | 0 | 0 |
Interest and other income | 122,101 | 9,415 | 149,849 | 20,036 | 20,074 | 0 | 0 |
Change in fair value of derivative liability | (293,698) | (76,536) | 2,113,391 | (670,790) | (739,375) | 0 | 0 |
Foreign exchange | 337,593 | 680,578 | 845,146 | 267,950 | 865,916 | 0 | 0 |
Gain on extinguishment of debt | 268,334 | 0 | 268,334 | 0 | |||
Total other items | 408,222 | 613,457 | 3,350,612 | (559,292) | (29,873) | 0 | 0 |
Net loss for the period | (2,432,435) | (2,478,561) | (3,051,492) | (7,798,641) | (9,838,317) | (1,067,284) | (8,517,850) |
Other comprehensive income (loss) | |||||||
Translation adjustments | (363,796) | (707,875) | (890,689) | (395,030) | (971,640) | 0 | 0 |
Comprehensive loss for the period | $ (2,796,231) | $ (3,186,436) | $ (3,942,181) | $ (8,193,671) | $ (10,809,957) | $ (1,067,284) | $ (8,517,850) |
Net loss per share | |||||||
Basic | $ (0.04) | $ (0.04) | $ (0.05) | $ (0.14) | |||
Diluted | $ (0.04) | $ (0.04) | $ (0.06) | $ (0.14) | |||
Weighted average shares outstanding | |||||||
Basic | 64,958,069 | 63,104,788 | 64,646,096 | 55,066,317 | |||
Diluted | 64,958,069 | 63,104,788 | 65,180,918 | 55,066,317 | |||
Basic and diluted loss per common stock | $ (0.17) | $ (0.03) | $ (0.27) | ||||
Weighted average number of common stock outstanding - basic & diluted | 57,048,406 | 32,070,052 | 32,070,052 |
Interim Condensed Consolidated5
Interim Condensed Consolidated Statements of Capital Equity (Deficit) - USD ($) | Common Stock [Member] | Additional Paid-In Capital [Member] | Shares to be Issued [Member] | Accumulated Deficit [Member] | Accumulated other comprehensive income (loss)[Member] | Total |
Beginning Balance at Jan. 22, 2013 | $ 0 | |||||
Beginning Balance (Shares) at Jan. 22, 2013 | 0 | |||||
Shares issued for cash, intellectual property and services | $ 8,510,000 | $ 8,510,000 | ||||
Shares issued for cash, intellectual property and services (Shares) | 32,070,052 | |||||
Net loss for the period | $ (8,517,850) | (8,517,850) | ||||
Ending Balance at Mar. 31, 2013 | $ 8,510,000 | (8,517,850) | (7,850) | |||
Ending Balance (Shares) at Mar. 31, 2013 | 32,070,052 | |||||
Share issuance cost | 0 | |||||
Stock-based compensation on 654,481 options granted | $ 173,873 | 173,873 | ||||
Stock-based compensation on 2,300,000 options granted | 560,082 | 560,082 | ||||
Stock-based compensation on 275,550 options granted | 73,202 | 73,202 | ||||
Net loss for the period | (1,067,284) | (1,067,284) | ||||
Ending Balance at Mar. 31, 2014 | $ 8,510,000 | 807,157 | (9,585,134) | (267,977) | ||
Ending Balance (Shares) at Mar. 31, 2014 | 32,070,052 | |||||
Issuance of common stock for private placement | $ 6,437,041 | 578,961 | 7,016,002 | |||
Issuance of common stock for private placement (Shares) | 15,240,000 | |||||
Share issuance cost | $ (447,515) | 67,709 | (379,806) | |||
Stock-based compensation on 2,300,000 options granted | 50,303 | 50,303 | ||||
Shares issued to consultant for option exercise 1 | $ 717 | 717 | ||||
Shares issued to consultant for option exercise 1 (Shares) | 2,300,000 | |||||
Shares issued to consultant for option exercise 2 | $ 290 | 290 | ||||
Shares issued to consultant for option exercise 2 (Shares) | 930,031 | |||||
Fair value of options allocated to share capital on exercise of options | $ 857,460 | (857,460) | ||||
Recapitalization of Helius Medical Technologies, Inc. | 162,890 | 162,890 | ||||
Recapitalization of Helius Medical Technologies, Inc. (Shares) | 10,000,000 | |||||
Conversion of debenture | $ 1,000,100 | 1,000,100 | ||||
Conversion of debenture (Shares) | 2,564,705 | |||||
Beneficial conversion feature | 176,488 | 176,488 | ||||
Stock-based compensation on 3,370,000 options granted | 1,227,724 | 1,227,724 | ||||
Stock-based compensation on 400,000 options granted | 135,564 | 135,564 | ||||
Stock-based compensation on 100,000 options granted 1 | 74,190 | 74,190 | ||||
Stock-based compensation on 100,000 options granted 2 | 43,229 | 43,229 | ||||
Stock-based compensation on 100,000 options granted 3 | 41,987 | 41,987 | ||||
Fair value of non-employee vested options reallocated to derivative liability | (74,190) | (74,190) | ||||
Private placement proceeds | $ 39,545 | 39,545 | ||||
Net loss for the period | (9,838,317) | (9,838,317) | ||||
Translation adjustments | $ (971,640) | (971,640) | ||||
Ending Balance at Mar. 31, 2015 | $ 16,358,093 | 2,434,552 | 39,545 | (19,423,451) | (971,640) | (1,562,901) |
Ending Balance (Shares) at Mar. 31, 2015 | 63,104,788 | |||||
Exercise of finders warrants | $ 11,926 | 11,926 | ||||
Exercise of finders warrants (Shares) | 14,400 | |||||
Issuance of common stock for private placement | $ 1,465,524 | 1,465,524 | ||||
Issuance of common stock for private placement (Shares) | 849,273 | |||||
Issuance of common stock for private placement 2 | $ 585,702 | $ (39,545) | 546,157 | |||
Issuance of common stock for private placement 2 (Shares) | 335,463 | |||||
Issuance of common stock for private placement 3 | $ 233,806 | 233,806 | ||||
Issuance of common stock for private placement 3 (Shares) | 125,756 | |||||
Stock option exercise | $ 42,500 | 42,500 | ||||
Stock option exercise (Shares) | 94,640 | |||||
Fair value of options exercised | $ 20,454 | (20,454) | ||||
Issuance of common stock as bonus shares | $ 23,959 | 23,959 | ||||
Issuance of common stock as bonus shares (Shares) | 30,000 | |||||
Issuance of common stock for convertible note | $ 1,525,000 | 1,525,000 | ||||
Issuance of common stock for convertible note (Shares) | 2,083,333 | |||||
Share issuance cost | $ (141,100) | (141,100) | ||||
Stock-based compensation on 3,370,000 options granted | (84,550) | (84,550) | ||||
Stock-based compensation on 400,000 options granted | 167,417 | 167,417 | ||||
Stock-based compensation on 100,000 options granted 1 | 28,681 | 28,681 | ||||
Stock-based compensation on 100,000 options granted 2 | 28,440 | 28,440 | ||||
Stock-based compensation on 50,000 options granted | 6,880 | 6,880 | ||||
Stock-based compensation on 750,000 options granted | 66,625 | 66,625 | ||||
Stock-based compensation on 950,000 options granted | 206,461 | 206,461 | ||||
Stock-based compensation on 100,000 options granted 3 | 12,032 | 12,032 | ||||
Fair value of non-employee vested options reallocated to derivative liability | (690,885) | (690,885) | ||||
Net loss for the period | (3,051,492) | (3,051,492) | ||||
Translation adjustments | (890,689) | (890,689) | ||||
Ending Balance at Dec. 31, 2015 | $ 20,125,864 | $ 2,155,199 | $ (22,474,943) | $ (1,862,329) | $ (2,056,209) | |
Ending Balance (Shares) at Dec. 31, 2015 | 66,637,653 |
Interim Condensed Consolidated6
Interim Condensed Consolidated Statements of Cash Flows - USD ($) | 9 Months Ended | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2013 | |
Cash flows from operating activities | |||||
Net loss for the period | $ (3,051,492) | $ (7,798,641) | $ (9,838,317) | $ (1,067,284) | $ (8,517,850) |
Items not involving cash: | |||||
Change in fair value of derivative liability | (2,113,391) | 670,790 | 739,375 | 0 | 0 |
Accretion | 23,959 | 176,488 | 176,488 | 1,344 | 0 |
Stock-based compensation | 431,986 | 1,970,345 | 2,340,876 | 807,157 | 8,500,000 |
Gain on extinguishment of debt | (268,334) | 0 | |||
Changes in non-cash working capital items: | |||||
Receivables | (119,567) | (2,035) | (8,945) | 0 | 0 |
Accounts Payable | 128,457 | 975,694 | 979,040 | 210,085 | 5,836 |
Prepaid expenses | (384,629) | (150,364) | (110,873) | (300,000) | 0 |
Foreign exchange re-measurement | (901,518) | (222,244) | (598,929) | 0 | 0 |
Net cash used in operating activities | (6,254,529) | (4,379,967) | (6,321,285) | (348,698) | (12,014) |
Cash flows from investing activities | |||||
Short term investment | 378,000 | 0 | (378,000) | 0 | 0 |
Net cash provided by investing activities | 378,000 | 0 | (378,000) | 0 | 0 |
Cash flows from financing activities | |||||
Cash acquired on recapitalization | 23,904 | 0 | 0 | ||
Issuance of share capital | 2,299,913 | 7,017,009 | 7,017,009 | 0 | 10,000 |
Issuance of warrants | 532,523 | 0 | |||
Share issuance cost | (141,100) | (379,806) | (379,806) | 0 | 0 |
Proceeds from shares to be issued | (39,545) | 0 | 0 | ||
Proceeds from bridge loan | 150,000 | 0 | 0 | ||
Short term loan | 0 | (2,231) | 2,231 | ||
Convertible debenture and credit facility proceeds | 7,000,000 | 633,195 | 632,076 | 366,680 | 0 |
Net cash provided by financing activities | 9,691,336 | 7,270,398 | 7,482,728 | 364,449 | 12,231 |
Effect of foreign exchange rate changes on cash | 116,650 | 0 | (380,518) | 0 | 0 |
Net change in cash and cash equivalents | 3,931,457 | 2,890,431 | 402,925 | 15,751 | 217 |
Cash and cash equivalents, beginning of the period | 418,893 | 15,968 | 15,968 | 217 | 0 |
Cash and cash equivalents, end of the period | 4,350,350 | 2,906,399 | 418,893 | 15,968 | 217 |
Supplemental cash flow information | |||||
Interest paid in cash | 1,644 | 11,144 | 11,144 | 0 | 0 |
Income taxes paid in cash | $ 0 | $ 0 | 0 | 0 | 0 |
Total supplemental information of cash flows | $ 11,144 | $ 0 | $ 0 |
BASIS OF PRESENTATION
BASIS OF PRESENTATION | 9 Months Ended | 12 Months Ended |
Dec. 31, 2015 | Mar. 31, 2015 | |
BASIS OF PRESENTATION [Text Block] | 1. BASIS OF PRESENTATION The accompanying unaudited condensed financial statements of Helius Medical Technologies Inc. (the “Company”) have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, they should be read in conjunction with the audited consolidated financial statements and notes thereto for the fiscal year ended March 31, 2015 in the Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on June 29, 2015, and as subsequently amended and refiled on January 11, 2016. The unaudited condensed consolidated interim financial statements contain all normal recurring accruals and adjustments that, in the opinion of management, are necessary to present fairly the consolidated financial position of the Company at December 31, 2015, and the consolidated results of operations for the three and nine months ended December 31, 2015, and consolidated statements of cash flows for the nine months ended December 31, 2015. All intercompany accounts and transactions have been eliminated. It should be understood that accounting measures at interim dates inherently involve greater reliance on estimates than at year end. The results of operations for the three and nine months ended December 31, 2015 are not necessarily indicative of the results to be expected for the full year or any future interim periods. | 1. NATURE AND CONTINUANCE OF OPERATIONS Helius Medical Technologies, Inc. ("Helius" or the "Company") is in the development stage and engaged primarily in the medical technology industry focused on neurological wellness. The Company’s planned principal operations include the development, licensing and acquisition of unique and non-invasive platform technologies to amplify the brain’s ability to heal itself. The Company was incorporated in British Columbia, Canada, on March 13, 2014. On May 28, 2014, the Company completed a continuation via a plan of arrangement whereby the Company moved from being a corporation governed by the British Columbia Corporations Act to a corporation governed by the Wyoming Business Corporations Act. The Company’s head office is located at 41 University Drive, Suite 400, Newtown, PA, USA 18940. The Company is listed on the Canadian Securities Exchange (the "CSE") and began trading on June 23, 2014, under the ticker symbol "HSM". The Company also began trading on the OTCQB under the ticker symbol "HSDT" on February 10, 2015. On June 13, 2014, the Company completed its acquisition of 100% of the issued and outstanding shares of Neurohabilitation Corporation ("Neuro"), a private company incorporated in Delaware, USA, on January 22, 2013. Prior to the transaction, Helius was a non-operating public shell company. Accordingly, for financial reporting purposes, this transaction was deemed to be a capital transaction in substance and recorded as a reverse recapitalization of Neuro whereby Neuro is deemed to be the continuing, surviving entity for accounting purposes, but through reorganization, has deemed to have adopted the capital structure of Helius. Because the acquisition was considered a reverse recapitalization for accounting purposes, the combined historical financial statements of Neuro became the historical financial statements and from the completion of the acquisition on June 13, 2014, the financial statements have been prepared on a consolidated basis. The assets and liabilities of Neuro have been brought forward at their book value and no goodwill has been recognized in connection with the transaction. The Company had a wholly-owned subsidiary, 0995162 B.C. Ltd, which was dissolved on October 23, 2014. On December 17, 2014, Neuro incorporated a wholly-owned subsidiary, Helius Medical Technologies (Canada), Inc. ("Helius Canada"). The financial information is presented in United States Dollars. |
SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended | 12 Months Ended |
Dec. 31, 2015 | Mar. 31, 2015 | |
SIGNIFICANT ACCOUNTING POLICIES [Text Block] | 2. SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Liquidity The Company has incurred a net loss of $3,051,492 for the nine months ended December 31, 2015 and, as of December 31, 2015, the Company has an accumulated deficit of $22,474,943 (March 31, 2015 - $19,423,451). Until the Company generates a level of revenue to support its cost structure, the Company expects to continue to incur substantial operating losses and net cash outflows. While the Company had cash and cash equivalents of $4,350,350 as of December 31, 2015 (March 31, 2015 - $418,893), management does not believe these resources will be sufficient to meet the Company’s operating and capital needs for the ensuing fiscal year. The Company intends to fund ongoing activities by utilizing current cash and cash equivalents and by raising additional capital through equity or debt financings. There can be no assurance that the Company will be successful in raising additional capital or that such capital, if available, will be on terms that are acceptable to the Company. If the Company is unable to raise sufficient additional capital, the Company may be compelled to reduce the scope of its operations and planned capital expenditure or sell certain assets, including intellectual property assets. This material uncertainty gives rise to substantial doubt about the Company’s ability to continue as a going concern. Fair Value of Financial Assets and Liabilities The Company’s financial instruments consist primarily of cash and cash equivalents, accounts payable and accrued liabilities, and an obligation to issue shares and warrants. The book values of these instruments approximate their fair values due to the immediate or short-term nature of those instruments. 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 – Quoted prices in active markets for identical assets or liabilities; Level 2 – Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable; and Level 3 – Unobservable inputs that are supported by little or no market activity, therefore requiring an entity to develop its own assumptions about the assumptions that market participants would use in pricing. Cash and cash equivalents and short-term investment are measured using Level 1 inputs. The Company had certain Level 3 liabilities required to be recorded at fair value on a recurring basis in accordance with US GAAP as at December 31, 2015. As at December 31, 2015, the Company’s Level 3 liabilities consisted of warrants and share purchase options awarded to non-employees. The resulting Level 3 liabilities have no active market and are required to be measured at their fair value each reporting period based on information that is unobservable. A summary of the Company’s Level 3 liabilities for the periods ended December 31, 2015 and 2014 are as follows: Non-Employee Options Nine months ended Nine months ended December 31, 2015 December 31, 2014 $ $ Beginning fair value 1,581,444 - Issuance of warrants and non-employee options - 767,879 Reallocation of vested non-employee options 690,885 42,227 Change in fair value (1,725,520 ) 670,790 Ending fair value of non-employee options 546,809 1,480,896 Embedded Conversion feature Nine months ended Nine months ended December 31, 2015 December 31, 2014 $ $ Beginning fair value - - Bifurcation of embedded conversion feature 425,208 - Settlement of convertible debt (425,208 ) - Ending fair value of embedded conversion feature - - Warrants Beginning fair value - - Issuance of warrants 739,190 - Change in fair value (387,871 ) - Ending fair value of warrants 351,319 - Ending fair value of Level 3 liability 898,128 1,480,896 Certain assets and liabilities are measured at fair value on a nonrecurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments only in certain circumstances (for example, when there is evidence of impairment). There were no assets or liabilities measured at fair value on a non-recurring basis during the periods ended December 31, 2015 and December 31, 2014. Basic and Diluted Income (Loss) per Share Earnings or loss per share (“EPS”) is computed by dividing net income (loss) available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted EPS is computed by dividing net income (loss) by the weighted-average of all potentially dilutive shares of common stock that were outstanding during the periods presented. The number of shares potentially issuable at December 31, 2015 upon the exercise or conversion of share purchase warrants, share purchase options and conversion of convertible debentures totaled 19,633,969. The treasury stock method is used in calculating diluted EPS for potentially dilutive stock options and share purchase warrants, which assumes that any proceeds received from the exercise of in-the-money stock options and share purchase warrants, would be used to purchase common shares at the average market price for the period. EPS for convertible debt is calculated under the “if-converted” method. Under the if converted method, EPS is calculated as the more dilutive of EPS (i) including all interest (both cash interest and non-cash discount amortization) and excluding all shares underlying the convertible debt or; (ii) excluding all interest and costs directly related to the convertible debt (both cash interest and non-cash discount amortization) and including all shares underlying the convertible debt. The basic and diluted earnings per share for the three and nine months ended December 31, 2015 and 2014 were calculated as follows: Three months ended Nine months ended December December December December 31, 2015 31, 2014 31, 2015 31, 2014 (Restated – (Restated – (Restated – (Restated – Note 13) Note 13) Note 13) Note 13) Basic Numerator Net loss for the period $ (2,432,435 ) $ (2,478,561 ) $ (3,051,492 ) $ (7,798,641 ) Denominator Weighted average common shares outstanding 64,958,069 63,104,788 64,646,096 55,066,317 Basic net loss per share $ (0.04 ) $ (0.04 ) $ (0.05 ) $ (0.14 ) Diluted Numerator Net loss for diluted income per share $ (2,432,435 ) $ (2,478,561 ) $ (3,051,492 ) $ (7,798,641 ) Gain in fair value of options - - (1,094,449 ) - Loss available to common stockholders $ (2,432,435 ) $ (2,478,561 ) $ (4,145,941 ) $ (7,798,641 ) Denominator Weighted average common shares outstanding 64,958,069 63,104,788 64,646,096 55,066,317 Potential share issuances Common share options - - 534,822 - Common share warrants - - - - Weighted average number of common shares outstanding used in computing diluted earnings per share 64,958,069 63,104,788 65,180,918 55,066,317 Diluted earnings per share $ (0.04 ) $ (0.04 ) $ (0.06 ) $ (0.14 ) Recent Accounting Pronouncements In June 2014, the FASB issued ASU No. 2014-12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period ("ASU 2014-12"). ASU 2014-12 requires that a performance target that affects vesting, and that could be achieved after the requisite service period, be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant date fair value of the award. This update further clarifies that compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. The amendments in this ASU are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. The Company is currently evaluating the impact this guidance will have on its financial condition, results of operations and cash flows. In August 2014, the FASB issued ASU No. 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”). ASU 2014-15 will explicitly require management to assess an entity’s ability to continue as a going concern, and to provide related footnote disclosure in certain circumstances. The new standard will be effective for all entities in the first annual period ending after December 15, 2016. The Company is currently evaluating the impact this guidance will have on its financial condition, results of operations and cash flows. In May, 2014, the FASB and the International Accounting Standards Board (IASB) issued a converged standard on revenue recognition from contracts with customers, ASU 2014-09 (Topic 606 and IFRS 15). This standard will supersede nearly all existing revenue recognition guidance. ASU 2014-09 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. The Company is currently evaluating the impact this guidance will have on its financial condition, results of operations and cash flows. In April 2015, the FASB issued Accounting Standards Update No. 2015-03 Interest – Imputation of Interest (Subtopic 835-30). This guidance is to simplify the presentation of debt issuance costs by recognizing a debt liability in the balance sheet as a direct deduction from that debt liability consistent with the presentation of a debt discount. The amendments in this Update are effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. The Company is currently evaluating the impact of adoption of this new accounting pronouncement on its financial statements. | 2. SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Liquidity The Company’s consolidated financial statements have been presented in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") and the rules and regulations of the Securities and Exchange Commission ("SEC") that are published at the time of preparation and that are effective or available on March 31, 2015. The Company has incurred a net loss of $9,838,317 for the year ended March 31, 2015 and, as of March 31, 2015, the Company has an accumulated deficit of $19,423,451 (March 31, 2014 - $9,585,134 ; March 31, 2013 - $8,517,850). Until the Company generates a level of revenue to support its cost structure, the Company expects to continue to incur substantial operating losses and net cash outflows. While the Company had cash and cash equivalents of $418,893 as of March 31, 2015 (March 31, 2014 - $15,968), management does not believe these resources will be sufficient to meet the Company’s operating and capital needs for the ensuing fiscal year. The Company intends to fund ongoing activities by utilizing current cash and cash equivalents and by raising additional capital though equity or debt financings. There can be no assurance that the Company will be successful in raising additional capital or that such capital, if available, will be on terms that are acceptable to the Company. If the Company is unable to raise sufficient additional capital, the Company may be compelled to reduce the scope of its operations and planned capital expenditure or sell certain assets, including intellectual property asset. This material uncertainty gives rise to substantial doubt about the Company’s ability to continue as a going concern. Use of Estimates The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and reported amounts of expenses during the reporting period. Significant estimates include valuation of share-based payment transactions, compensation expense related to shares issued for services, valuation of options and warrants and deferred income tax asset valuation allowances. Actual outcomes could differ from these estimates. Financial statements include estimates which, by their nature, are uncertain. The impacts of such estimates are pervasive throughout the financial statements, and may require accounting adjustments based on future occurrences. Revisions to accounting estimates are recognized in the period in which the estimate is revised and the revision affects both the current and future periods. Principles of Consolidation The consolidated financial statements include the historic accounts of Neuro and are consolidated with Helius and its subsidiaries beginning June 13, 2014. All intercompany balances and transactions have been eliminated in consolidation. Cash and Cash Equivalents Cash and cash equivalents comprise cash at banks and on hand, and short-term highly liquid investments that have an insignificant interest rate risk and an original maturity of 3 months or less. Short-term investment The short-term investments are readily redeemable term deposits held at the bank. As at March 31, 2015, the short-term investment consists of a one year guaranteed investment certificate ("GIC") in the amount of $378,000 yielding 0.25% per annum. Due to the Company’s intention to have the short-term investment available for liquidity purposes, it has been classified as available-for-sale and recorded at its fair value. Any unrealized gains or losses are excluded from earnings and are recorded in other comprehensive income. Concentrations of Credit Risk The Company is subject to credit risk in respect of its cash and short-term investment. Amounts invested in such instruments are limited by credit rating, maturity, industry group, investment type and issuer. The Company is not currently exposed to any significant concentrations of credit risk from these financial instruments. The Company seeks to maintain safety and preservation of principal and diversification of risk, liquidity of investments sufficient to meet cash flow requirements and a competitive after-tax rate of return. Stock-Based Compensation The Company accounts for all stock-based payments and awards under the fair value based method. The Company recognizes its stock-based compensation using the accelerated attribution method. Stock-based payments to non-employees are measured at the fair value of the consideration received, or the fair value of the equity instruments issued, or liabilities incurred, whichever is more reliably measurable. The fair value of stock-based payments to non-employees is periodically re-measured until the counterparty performance is complete, and any change therein is recognized over the vesting period of the award and in the same manner as if the Company had paid cash instead of paying with or using equity based instruments. The fair value of the stock-based payments to non-employees that are fully vested and non-forfeitable as at the grant date are measured and recognized at that date. The Company accounts for the granting of share purchase options to employees using the fair value method whereby all awards to employees will be recorded at fair value on the date of the grant. The fair value of all share purchase options are expensed over their vesting period with a corresponding increase to additional capital surplus. Upon exercise of share purchase options, the consideration paid by the option holder, together with the amount previously recognized in additional paid-in capital is recorded as an increase to share capital. Share purchase options granted to employees are accounted for as liabilities when they contain conditions or other features that are indexed to other than a market, performance or service condition. The Company uses the Black-Scholes option pricing model to calculate the fair value of share purchase options. Option pricing models require the input of highly subjective assumptions, including the expected price volatility. Changes in these assumptions can materially affect the fair value estimate. Foreign Exchange The functional currency of the Company and Helius Canada is the Canadian Dollar and the functional currency of Neuro is the United States Dollars. The Company’s reporting currency is the US dollar. The assets and liabilities of the Company and Helius Canada are translated into U.S. dollars using year-end exchange rates; income and expenses are translated using the average exchange rates for the reporting period. Unrealized foreign currency translation adjustments are deferred in accumulated other comprehensive loss, a separate component of shareholders’ equity. The foreign exchange adjustment in the books of Neuro relating to inter-company advances from Helius that are denominated in Canadian dollars is recorded in the Statement of Loss. At March 31, 2015, Neuro recorded a foreign exchange gain of $573,917 in respect of this adjustment and which is reflected in the consolidated statement of loss for the year ended March 31, 2015. Net Loss per Common Share Basic net earnings (loss) per share is computed by dividing net earnings (loss) available to common stockholders by the weighted average number of outstanding common stock for the period, without consideration for common stock equivalents. Diluted net income (loss) per common share includes both the weighted-average number of common shares outstanding for the period plus the potentially dilutive securities from stock options and warrants outstanding determined using the treasury-stock method and the if-converted method, as applicable. As at March 31, 2015, there were 4,920,000 options (March 31, 2014 - 3,230,031 ; March 31, 2013 - nil) outstanding and 8,444,400 warrants (March 31, 2014 - nil; March 31, 2013 - nil) outstanding which have not been included in the weighted average common stock outstanding as these were anti-dilutive. Fair Value of Financial Assets and Liabilities The Company’s financial instruments consist primarily of cash and cash equivalents, short-term investment and accounts payable and accrued liabilities. The book values of these instruments approximate their fair values due to the immediate or short-term nature of those instruments. 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 - Quoted prices in active markets for identical assets or liabilities; Level 2 - Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable; and Level 3 - Unobservable inputs that are supported by little or no market activity, therefore requiring an entity to develop its own assumptions about the assumptions that market participants would use in pricing. Cash and cash equivalents and short-term investment are measured using Level 1 inputs. The Company had certain Level 3 liabilities required to be recorded at fair value on a recurring basis in accordance with US GAAP as at March 31, 2015. As at March 31, 2015, the Company’s Level 3 liabilities consisted of the grant of share purchase options granted to non-employees. The resulting Level 3 liabilities have no active market and are required to be measured at their fair value each reporting period based on information that is unobservable. A summary of the Company’s Level 3 liabilities for the fiscal years ended March 31, 2015 and 2014 are as follows: March 31,2015 March 31, 2014 $ $ Non-employee options (Note 6(a)) Beginning fair value - - Issuance 767,879 - Reallocation of vested non-employee options 74,190 - Change in fair value 739,375 - Ending fair value of Level 3 liability 1,581,444 - Certain assets and liabilities are measured at fair value on a nonrecurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments only in certain circumstances (for example, when there is evidence of impairment). There were no assets or liabilities measured at fair value on a nonrecurring basis during the periods ended March 31, 2015 and 2014. Income Taxes The Company accounts for income taxes using the asset and liability method. The asset and liability method provides that deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating loss and tax credit carry-forwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized. The Company has adopted the provisions of FASB ASC 740 "Income Taxes" regarding accounting for uncertainty in income taxes. The Company initially recognizes tax provisions in the financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions are initially and subsequently measured as the largest amount of the tax benefit that is greater than 50% likely of being realized upon ultimate settlement with the tax authority, assuming full knowledge of the position and all relevant facts. Application requires numerous estimates based on available information. The Company considers many factors when evaluating and estimating its tax positions and tax benefits. These periodic adjustments may have a material impact on the consolidated statements of operations. When applicable, the Company classifies penalties and interest associated with uncertain tax positions as a component of income tax expense in its consolidated Statement of Income (Loss) and Comprehensive Income (Loss). Research and Development Expenses Research and development (R&D) expenses consist primarily of personnel costs, including salaries, benefits and stock-based compensation, clinical studies performed by contract research organizations and materials and supplies. R&D costs are charged to operations when they are incurred. Derivative Liabilities The Company evaluates its financial instruments and other contracts to determine if those contracts or embedded components of those contracts qualify as derivatives to be separately accounted for in accordance with ASC 815. The result of this accounting treatment is that the fair value of the embedded derivative is marked-to-market at each balance sheet date and recorded as a liability and the change in fair value is recorded in the consolidated statement of loss. Upon conversion or exercise of a derivative instrument, the instrument is marked to fair value at the conversion date and then that fair value is reclassified to equity. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is re-assessed at the end of each reporting period. Derivative instruments that become subject to reclassification are reclassified at the fair value of the instrument on the reclassification date. Derivative instrument liabilities will be classified in the balance sheet as current or non-current based on whether or not settlement of the derivative instrument is expected within 12 months of the balance sheet date. The Company uses the Black-Scholes option valuation model to value derivative liabilities. This model uses Level 3 inputs in the fair value hierarchy established by ASC 820 Fair Value Measurement. Recent Accounting Pronouncements In August 2014, the Financial Accounting Standards Board (the "FASB") issued Accounting Standards Update ("ASU") No. 2014-15, Presentation of Financial Statements - Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern In June 2014, the FASB issued ASU No. 2014-10, "Development Stage Entities" ("ASU 2014-10") which removes the definition of a development stage entity from the Master Glossary of the Accounting Standards Codification, thereby removing the financial reporting distinction between development stage entities and other reporting entities from U.S. GAAP. In addition, the update eliminates the requirements for development stage entities to (1) present inception-to-date information in the statements of income, cash flows, and shareholder equity, (2) label the financial statements as those of a development stage entity, (3) disclose a description of the development stage activities in which the entity is engaged, and (4) disclose in the first year in which the entity is no longer a development stage entity that in prior years it had been in the development stage. ASU No. 2014-10 is effective for fiscal years and interim periods beginning after December 15, 2014, with early adoption permissible. The Company early adopted ASU 2014-10 allowing the financial statements to be cast without the inception to date information and without references to the development stage. The amendments also clarify that the guidance in Topic 275, Risks and Uncertainties In June 2014, the FASB issued ASU No. 2014-12, Compensation - Stock Compensation (Topic 781): Accounting for Share-Based Payments When the Terms of an Award Provide that a Performance Target Could be Achieved after the Requisite Service Period In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) |
RECAPITALIZATION
RECAPITALIZATION | 12 Months Ended |
Mar. 31, 2015 | |
RECAPITALIZATION [Text Block] | 3. RECAPITALIZATION On June 13, 2014 the Company completed a recapitalization transaction where the Company acquired 100% of the issued and outstanding shares of Neuro. In exchange, the Company issued a total of 35,300,083 shares to the shareholders of Neuro which merged with a wholly-owned subsidiary of the Company, HMT Mergersub, for the purpose of the three-corner amalgamation. As a result, the former Neuro shareholders owned the majority of the outstanding shares of the Company upon completion of the transaction. Prior to the recapitalization transaction, the Company did not meet the definition of a business. Thus, the transaction is considered to be a capital transaction of Neuro accompanied by a recapitalization. The ongoing Company has adopted the name Helius Medical Technologies, Inc. These financial statements present the results of Neuro with the exception of common stock which has been retroactively restated to reflect the Recapitalization (see Note 6). In connection with the Recapitalization, the Company advanced Neuro an unsecured loan in the amount of $150,000 (the "Bridge Loan"). The Bridge Loan was for a term of one year commencing on May 30, 2014, and was payable in a lump sum at the end of the term. The Bridge Loan bears interest at a rate of 8% per annum. The net assets of Helius acquired were as follows, Cash and cash equivalents $ 23,904 Receivables 1,644 Bridge loan receivable 150,000 Prepaid expenses 5,970 Accounts payable and accrued liabilities (18,628 ) $ 162,890 The recapitalization transaction reflects a credit to additional paid-in capital of $162,890, the carrying value of the net assets of Helius at the time of the reverse merger. In connection to the completion of the transaction, the Company completed a private placement of 15,240,000 units at CAD $0.50 per unit for a total of $7,016,002 (CAD $7,620,000) (Note 5). Each unit consisted of one common share of the Company and one-half of a share purchase warrant. Each whole share purchase warrant is exercisable at CAD $1.00 for a period of twenty-four months. In respect of this private placement, the Company paid aggregate finders’ fees of $379,806 (CAD $412,200) and issued 824,400 finders’ warrants. Each finder’s warrant is exercisable at CAD $1.00 per share for a period of two years. |
CONVERTIBLE DEBENTURE
CONVERTIBLE DEBENTURE | 9 Months Ended | 12 Months Ended |
Dec. 31, 2015 | Mar. 31, 2015 | |
CONVERTIBLE DEBENTURE [Text Block] | 3. CONVERTIBLE DEBENTURE On February 19, 2014, the Company entered into a securities purchase agreement where the Company agreed to sell and issue a note with annual simple interest at 8% (the “Debenture”). A total of $1,000,100 in principal had been received. On June 13, 2014, the Debenture matured on the closing of the Company’s qualified financing. Upon completion of the qualified financing, the Debenture automatically converted into equity securities of the Company at a price per share equal to 85% of the price per share of the qualified financing. The conversion option of the Debenture was accounted for as a contingent beneficial conversion feature valued at $176,488 which was recorded as interest expense in the Statement of Comprehensive Loss on settlement of the contingency. | 4. CONVERTIBLE DEBENTURE On February 19, 2014, the Company entered into a securities purchase agreement where the Company agreed to sell and issue a note with annual simple interest at 8% (the "Debenture"). A total of $1,000,100 in principal had been received. Upon completion of a qualified financing in which the Company was to raise at least $2,000,000, the debenture would automatically convert into equity securities of the Company at a price per share equal to 85% of the price per share of the qualified financing. If a qualified financing did not occur on or before the maturity date, at the option of the Company’s board of directors, the outstanding balance of the debenture would be converted into the Company’s equity securities at a conversion price per common stock determined using a valuation of $8.5 million and the number of shares outstanding at that date. On June 13, 2014, the Debenture matured on the closing of the Company’s qualified financing. Upon completion of the qualified financing, the Debenture automatically converted into equity securities of the Company at a price per share equal to 85% of the price per share of the qualified financing. The conversion option of the Debenture was accounted for as a contingent beneficial conversion feature valued at $176,488 which was recorded as interest expense in the Statement of Comprehensive Loss on settlement of the contingency. Upon conversion of the Debenture, the Company issued a total of 2,564,705 common shares. In addition, the Company paid the Debenture holders $11,131 with respect to the accrued and unpaid interest outstanding. |
PROMISSORY NOTE
PROMISSORY NOTE | 9 Months Ended |
Dec. 31, 2015 | |
PROMISSORY NOTE [Text Block] | 4. PROMISSORY NOTE On September 8, 2015, the Company received $200,000 in exchange for the issuance of a promissory note (the “Promissory Note”). The Promissory Note was to be repaid six months from the date of issuance with interest accruing at the rate of 6% per annum for the first three months and 10% per annum thereafter. In addition, the lender was entitled to receive 30,000 common shares of the Company on the date of the Promissory Note (the “Bonus Shares”) and an additional 30,000 common shares every three months thereafter as long as the principal of the loan remained outstanding. During the nine months ended December 31, 2015, the Company issued the lender 30,000 Bonus Shares valued at $23,959 based on their quoted market to the lender. This amount was recorded as a debt discount of the Promissory Note at issuance and was being amortized using the effective interest method over the term of the Promissory Note. On October 28, 2015, the Company repaid the Promissory Note in its entirety, along with accrued interest of $1,644. The remaining debt discount was immediately recorded as interest expense on the date of repayment. |
COMMON STOCK
COMMON STOCK | 9 Months Ended | 12 Months Ended |
Dec. 31, 2015 | Mar. 31, 2015 | |
COMMON STOCK [Text Block] | 5. COMMON STOCK On April 30, 2015 the Company closed a non-brokered private placement (the “First Financing”) raising gross proceeds of $1,825,937 by the issuance of 849,273 units (each a “First Financing Unit”) at a price of $2.15 per First Financing Unit. Each First Financing Unit consists of one (1) common share and one half of one (1/2) common share purchase warrant (each a “First Financing Warrant”). Each whole First Financing Warrant entitles the holder thereof to purchase one additional common share of the Company at a price of $3.00 per share for a period of thirty-six (36) months from the closing date of the Financing. The Company paid a cash finder’s fee of $84,074 in connection with this First Financing, as well as 27,396 finder’s warrants (the “First Financing Finder’s Warrants”). Each First Financing Finder’s Warrant entitles the holder thereof to purchase one additional common share of the Company at a price of $3.00 per share for a period of thirty-six (36) months from the closing date of the First Financing. On June 26, 2015 the Company closed a non-brokered private placement (the “Second Financing”) raising gross proceeds of $721,243 by the issuance of 335,463 units (each a “Second Financing Unit”) at a price of $2.15 per Second Financing Unit. Each Second Financing Unit consists of one (1) common share and one half of one (1/2) common share purchase warrant (each a “Second Financing Warrant”). Each whole Second Financing Warrant entitles the holder thereof to purchase one additional common share of the Company at a price of $3.00 per share for a period of thirty-six (36) months from the closing date of the Second Financing. The Company paid a cash finder’s fee of $40,803 in connection with this Second Financing, as well as 18,978 finder’s warrants (the “Second Financing Finder’s Warrants”). Each Second Financing Finder’s Warrant entitles the holder thereof to purchase one additional common share of the Company at a price of $2.15 per share for a period of sixty (60) months from the closing date of the Second Financing. On July 17, 2015 the Company closed a non-brokered private placement (the “Third Financing”) raising gross proceeds of $270,375 by the issuance of 125,756 units (each a “Third Financing Unit”) at a price of $2.15 per Third Financing Unit. Each Third Financing Unit consists of one (1) common share and one half of one (1/2) common share purchase warrant (each a “Third Financing Warrant”). Each whole Third Financing Warrant entitles the holder thereof to purchase one additional common share of the Company at a price of $3.00 per share for a period of thirty-six (36) months from the closing date of the Third Financing. The Company paid a cash finder’s fee of $16,223 in connection with this Third Financing, as well as 7,545 finder’s warrants (the “Third Financing Finder’s Warrants”). Each Third Financing Finder’s Warrant entitles the holder thereof to purchase one additional common share of the Company at a price of $2.15 per share for a period of sixty (60) months from the closing date of the Third Financing. On October 9, 2015, in connection with an Asset Purchase Agreement, the Company entered into a US$7.0 million funding commitment with A&B Company Limited (“A&B”) in the form of a convertible promissory note. The funding commitment consisted of (i) an initial $2.0 million and (ii) an additional $5.0 million funding commitment, upon which the Company could draw down at any time or from time to time during the six-month period beginning on the issuance date of the convertible promissory note. The convertible promissory note was convertible at the option of the holder into units consisting of one share of common stock and one half share purchase warrant of the Company. See Note 7, “Convertible Note,” regarding the warrants issued in conjunction with the repayment of the note. | 5. COMMON STOCK Authorized: Unlimited Class A common shares without par value. Each Class A common share is entitled to have the right to vote at any shareholder meeting on the basis of one vote per share. Each Class A share held entitles the holder to receive dividends as declared by the directors. In the event of the liquidation, dissolution or winding-up of the Company other distribution of assets of the Company among its shareholders for the purposes of winding-up its affairs or upon a reduction of capital the holders of the Class A common shares shall, share equally, share for share, in the remaining assets and property of the Company. Class B common shares and Class A preferred shares were deleted from the list of classes of shares the Company is authorized to issue by way of amendment to the Company’s articles effective June 12, 2014. The Company is subject to a stockholders agreement, which places certain restrictions on the Company’s stock and its stockholders. These restrictions include approvals prior to sale or transfer of stock, a right of first refusal to purchase stock held by the Company and a secondary right of refusal to stockholders, right of co-sale whereby certain stockholders may be enabled to participate in a sale of other stockholders to obtain the same price, term and conditions on a pro-rata basis, rights of first offer of new security issuances to current stockholders on a pro-rata basis and certain other restrictions. Prior to the Recapitalization The number of securities below reflects the Recapitalization and the exchange ratio retrospectively. On January 22, 2013, the Company issued a total of 16,035,026 shares to Advanced NeuroRehabilitation LLC ("ANR") for cash proceeds of $5,000 and an exclusive license right to ANR’s patent pending technology and knowhow valued at $4.25 million per an independent valuation report. The valuation expert was engaged to assess the valuation of the costs incurred to date as well as the ongoing costs which would be required to bring the product to commercialization, discounted to the date of purchase. The Company recorded the $4.25 million exclusive license right as research and development expense per the Company’s accounting policy. On January 22, 2013, the Company also issued a total of 16,035,026 shares to MPJ Healthcare LLC ("MPJ") for cash proceeds of $5,000. In addition, the Company recorded $4.25 million of stock based compensation expense. On May 1, 2014, 2,300,000 options were exercised for 2,300,000 common shares for total proceeds of $717. On May 11, 2014, 930,031 options were exercised for 930,031 common shares for total proceeds of $290. In conjunction with the private placement completed on May 30, 2014 and recapitalization transaction completed on June 13, 2014 (Note 3), the Company entered into an escrow agreement with each of ANR, MPJ and the Company’s transfer agent whereby the 32,070,052 common shares issued to ANR and MPJ were placed in escrow in accordance with Canadian securities regulations. These shares were scheduled to be released from escrow over a period of 3 years from the date of the escrow agreement with 10% of the shares placed in escrow released on the completion date of the reverse merger and with 15% of the remaining outstanding balance of shares released every 6 months thereafter. The release of the escrow is not subject to any performance conditions and therefore not considered to be compensatory in nature. In addition, on their release, the value recorded in respect of these shares will not change and they are included in the calculation of earnings per share. After the Recapitalization Upon completion of the Recapitalization, the Company issued a total of 35,300,083 shares to the shareholders of Neuro. (Note 3) In connection with the Recapitalization, the Company also closed a non-brokered private placement (the "Private Placement") at CAD $0.50 per unit of 15,240,000 units raising $7,016,002 (CAD $7.62 million) on May 30, 2014 (Note 3). Each unit consists of one common stock of the Company and one half of a warrant of the Company where one full warrant is exercisable for 2 years at CAD $1.00 into one common stock. The fair value of the warrants issued was determined using the Black Scholes model and the Company used the relative fair value method to allocate $578,961 of the gross proceeds to Additional Paid-in Capital to account for the warrants issued. |
SHARE BASED PAYMENTS
SHARE BASED PAYMENTS | 9 Months Ended | 12 Months Ended |
Dec. 31, 2015 | Mar. 31, 2015 | |
SHARE BASED PAYMENTS [Text Block] | 6. SHARE BASED PAYMENTS (a) Stock options The Company has a stock option plan whereby the Company is authorized to grant up to 12,108,016 options. Vesting and the term of an option is determined at the discretion of the Board of Directors of the Company. The continuity of stock options for the periods as at December 31, 2015 and March 31, 2015, are as follows: Weighted Average Aggregate Exercise Price Intrinsic Value Number (CAD) (CAD) Balance outstanding at March 31, 2015 4,920,000 $ 1.14 $ 10,120,000 Exercised (94,640 ) $ 0.60 - Granted 1,850,000 0.88 - Balance outstanding at December 31, 2015 6,675,360 $ 1.08 $ 2,588,702 Balance exercisable at December 31, 2015 4,272,279 $ 1.16 $ 1,637,490 The options outstanding and exercisable at December 31, 2015 are as follows: Options outstanding remaining Number of Number of contractual life Exercise Grant date fair options options Expiry date (years) Price (CAD) value (CAD) exercisable 3,520,000 June 18, 2019 3.46 $ 0.60 $ 0.23 2,346,667 155,360 June 20, 2019 3.46 $ 0.60 $ 0.23 124,110 100,000 July 14, 2017 1.54 $ 2.52 $ 1.06 100,000 450,000 December 8, 2019 3.94 $ 2.92 $ 1.65 450,000 100,000 December 8, 2019 3.94 $ 2.92 $ 1.49 66,667 400,000 December 8, 2019 3.94 $ 2.96 $ 1.56 300,000 100,000 March 16, 2020 4.21 $ 3.20 $ 1.61 33,334 50,000 August 15, 2015 4.62 $ 0.98 $ 0.39 16,667 750,000 October 21, 2020 4.81 $ 0.87 $ 0.33 187,500 550,000 October 28, 2020 4.83 $ 0.84 $ 0.44 550,000 400,000 October 28,2020 4.83 $ 0.84 $ 0.36 64,000 100,000 December 31, 2020 5.00 $ 1.24 $ 0.50 33,334 6,675,360 4,272,279 The fair value of stock options granted during the periods ended December 31, 2015 and 2014 were estimated using the Black-Scholes option pricing model with the following weighted average assumptions: December 31, 2015 December 31, 2014 Stock price $0.822 $1.33 Exercise Price $0.878 $1.10 Expected life 3.6 years 3.9 years Expected volatility 67.85% 67.85% Risk – free interest rate 0.84% 1.32% Dividend rate 0.00% 0.00% The Company has adopted the simplified method prescribed by the SEC in SAB Topic 14 in respect of estimating the expected term of its stock options as its limited share purchase option history does not provide a reasonable basis to estimate the expected terms. Expected volatility was determined by reference to the average volatility rates of other companies in the same industry due to the Company’s limited trading history. Non-Employee Stock Options In accordance with the guidance of ASC 815-40-15, stock options awarded to non-employees that are performing services for Neurohabilitation Corporation (“NHC”) are required to be accounted for as derivative liabilities once the services have been performed and the options have vested because they are considered not to be indexed to the Company’s stock due to their exercise price being denominated in a currency other than NHC’s functional currency. Stock options awarded to non-employees that are not vested are re-measured at their respective fair values at each reporting period and accounted for as equity awards until the terms associated with their vesting requirements have been met. The changes in fair value of the unvested non-employee awards are reflected in their respective operating expense classification in the Company’s Consolidated Statement of Comprehensive Income (Loss). The non-employee stock options and warrants that are required to be accounted for as liabilities are summarized as follows for the periods ended December 31, 2015 and March 31, 2015: Nine months ended December 31, 2015 $ Nine months ended December 31, 2014 $ Fair value of non-employee options, beginning of the period 1,581,444 - Issuance - 767,879 Reallocation of vested non-employee options 690,885 42,227 Change in fair value of non-employee stock options during the period (725,520) 739,375 Fair value of non-employee options, end of the period 1,546,809 1,549,481 The non-employee options that have vested are required to be re-valued with the change in fair value of the liability recorded as a gain or loss on the change of fair value of derivative liability and included in other items in the Company’s Consolidated Statements of Loss at the end of each reporting period. The fair value of the options will continue to be classified as a liability until such time as they are exercised, expire or there is an amendment to the respective agreements that renders these financial instruments to be no longer classified as a liability. Share-based payments are classified in the Company’s Statement of Loss as follows for the period ended December 31, 2015 and 2014: Three months ended December 31, 2015 Nine months ended December 31, 2015 Three months ended December 31, 2014 Nine months ended December 31, 2014 Consulting fees (36,300) (45,199) 871,269 1,033,200 Research and development 315,031 57,550 239,463 578,120 Wages and salaries 52,737 419,635 (77,784) 359,025 331,468 431,986 1,032,948 1,970,345 (b) Share Purchase Warrants The continuity of warrants for the nine months ended December 31, 2015 is as follows: Number of warrants Weighted Average Exercise Price CAD US CAD $ US $ Balance March 31, 2015 8,444,400 - $1.00 - Granted 1,750,831 - 2.06 Exercised (14,400) - $1.00 - Balance December 31, 2015 8,430,000 1,750,831 $1.00 2.06 The warrants outstanding and exercisable at December 31, 2015 are as follows: Number of warrants outstanding Exercise Price Expiry Date 8,430,000 CAD $1.00 May 30, 2016 452,032 US $3.00 April 30, 2018 167,731 US $3.00 June 26, 2018 18,978 US $2.15 June 26, 2020 62,878 US $3.00 July 17, 2018 7,545 US $2.15 July 17, 2020 1,041,667 US $1.44 November 10, 2018 During the nine months ended December 31, 2015, the Company issued an aggregate of 1,750,931 common stock purchase warrants that are required to be accounted for as liabilities pursuant to ASC 815 because they are considered not to be indexed to the Company’s stock due to their exercise price being denominated in a currency other than the Company’s functional currency. Pursuant to the guidance of ASC 815, warrants having an exercise price denominated in a currency other than the functional currency of the Company are required to be accounted for as liabilities are accounted for at their respective fair values, with the change in fair value recorded on the consolidated statement of operations as other income. The warrants having an exercise price denominated in a currency other than the functional currency of the Company that are required to be accounted for as liabilities are summarized as follows for the periods ended December 31, 2015 and 2014: Nine months ended December 31, 2015 $ Nine months ended December 31, 2014 $ Fair value of warrants, beginning of the period - - Issuance 739,190 - Change in fair value of warrants during the period (387,871) - Fair value of warrants, end of the period 351,319 - The fair value of the warrants issued during the periods ended December 31, 2015 and 2014 were estimated using the Black-Scholes pricing model with the following weighted average assumptions: December 31, 2015 December 31, 2014 Stock price $0.73 - Exercise Price $1.44 - Expected life 3.0 years - Expected volatility 67.85% - Risk – free interest rate 0.96% - Dividend rate 0.00% - The warrants are required to be re-valued with the change in fair value of the liability recorded as a gain or loss on the change of fair value of derivative liability and included in other items in the Company’s Consolidated Statements of Loss at the end of each reporting period. The fair value of the warrants will continue to be classified as a liability until such time as they are exercised, expire or there is an amendment to the respective agreements that renders these financial instruments to be no longer classified as a liability. | 6. SHARE BASED PAYMENTS (a) Stock options The number of securities below reflects the Recapitalization and the exchange ratio retrospectively. The Company has a stock option plan whereby the Company is authorized to grant up to 12,108,016 options. Vesting and the term of an option is determined at the discretion of the Board of Directors of the Company. On April 1, 2013, the Company granted a consultant company 930,031 options for 10 years upon completion of certain services in accordance with a consulting agreement to lead the design and manufacturing program of the Company’s technology. On December 4, 2013, 654,481 options vested. On May 11, 2014, all these options had vested and were exercised for 930,031 common shares. On October 30, 2013, the Company granted 2,300,000 options exercisable for 10 years to a consultant company for strategic business advisory services which are to vest upon completion of two milestones. On February 11, 2014, 1,150,000 options were vested upon completion of the first of the two milestones. On April 28, 2014, the remaining 1,150,000 options were vested upon completion of the second milestone. On May 1, 2014, all 2,300,000 options were exercised for 2,300,000 shares. On June 19, 2014, the Company granted 3,520,000 options to directors, officers, and consultants exercisable at CAD $0.60 for 5 years. One third of these options vested immediately upon granting. The remaining two thirds of the options will vest on June 19, 2015, and June 19, 2016 respectively. On June 20, 2014, the Company granted 250,000 options to an investor relations consultant exercisable at CAD $0.60 for 5 years. 12.5% of these options vested immediately upon granting. The remaining 87.5% will vest at a rate of 12.5% every three months beginning September 20, 2014. On July 14, 2014, the Company granted 100,000 options to a consultant exercisable at CAD $2.52 for 3 years. 25% of these options vested immediately upon granting. The remaining options will vest at a rate of 25% on September 30, 2014, December 31, 2014, and March 31, 2015, respectively. On December 8, 2014, the Company granted 450,000 options to members of its scientific advisory board exercisable at CAD $2.92 for 5 years. All of these options vested immediately upon granting. On December 8, 2014, the Company granted 100,000 options to a new director exercisable at CAD $2.92 for 5 years. One third of these options vested immediately upon granting. The remaining two thirds of the options will vest on December 8, 2015, and December 8, 2016 respectively. On December 8, 2014, the Company granted 400,000 options to its new Chief Medical Officer exercisable at CAD $2.96 for 5 years. 25% of these options vested immediately upon granting. The remaining options will vest at a rate of 25% on June 8, 2015, December 8, 2015, and June 8, 2016, respectively. On March 16, 2015, the Company granted 100,000 options to a new director exercisable at CAD $3.20 for 5 years. One third of these options vested immediately upon granting. The remaining two thirds of the options will vest on March 16, 2016, and March 16, 2017 respectively. The continuity of stock options for the period ended March 31, 2015 and 2014 is as follows: Weighted Average Aggregate Exercise Price Intrinsic Value Number (CAD) (CAD) Balance, March 31, 2013 - - Granted 3,230,031 $ 0.0003 $ - Balance, March 31, 2014 3,230,031 $ 0.0003 $ - Granted 4,920,000 $ 1.14 $ - Exercised (3,230,031 ) $ 0.0003 $ - Balance outstanding at March 31, 2015 4,920,000 $ 1.14 $ 10,120,000 Balance exercisable at March 31, 2015 2,015,001 $ 1.41 $ 7,757,667 The options outstanding and exercisable at March 31, 2015 are as follows: Options outstanding remaining contractual life Exercise Grant date fair Number of options Number of options Expiry date (years) Price (CAD) value (CAD) exercisable 3,520,000 June 18, 2019 4.22 $ 0.60 $ 0.23 1,173,333 250,000 June 20, 2019 4.22 $ 0.60 $ 0.23 125,000 100,000 July 14, 2017 2.29 $ 2.52 $ 1.06 100,000 450,000 December 8, 2019 4.69 $ 2.92 $ 1.65 450,000 100,000 December 8, 2019 4.69 $ 2.92 $ 1.49 33,334 400,000 December 8, 2019 4.69 $ 2.96 $ 1.56 100,000 100,000 March 16, 2020 4.96 $ 3.20 $ 1.61 33,334 4,920,000 2,015,001 The weighted average grant date fair value of stock options granted during the year ended March 31, 2015 of CAD$0.54 was estimated using the Black-Scholes option pricing model with the following weighted average assumptions: stock price - CAD$1.06 ; exercise price - CAD$1.14 ; expected risk-free interest rate - 1.08%; expected life - 4.1 years; expected volatility - 67.85% and expected dividend rate - 0%. The Company has adopted the simplified method prescribed by the SEC in SAB Topic 14 in respect of estimating the expected term of its stock options as its limited share purchase option history does not provide a reasonable basis to estimate the expected terms. As well, expected volatility was determined by reference to the average volatility rates of other companies in the same industry due to the Company’s limited trading history. Non-Employee Stock Options In accordance with the guidance of ASC 815-40-15, stock options awarded to non-employees that are performing services for Neuro are required to be accounted for as derivative liabilities once the services have been performed and the options have vested because they are considered not to be indexed to the Company’s stock due to their exercise price being denominated in a currency other than Neuro’s functional currency. Stock options awarded to non-employees that are not vested are accounted for as equity awards until the terms associated with their vesting requirements have been met. The non-employee stock options are accounted for at their respective fair values and are summarized as follows for the years ended March 31, 2015 and 2014: 2015 2014 $ $ Fair value of non-employee options, beginning of the period - - Fair value of non-employee options, at issuance 767,879 - Reallocation of vested non-employee options 74,190 Change in fair value of non-employee stock options during the period 739,375 - Fair value of non-employee options, end of the period 1,581,444 - The non-employee options are required to be re-valued with the change in fair value of the liability recorded as a gain or loss on the change of fair value of derivative liability and included in other items in the Company’s Consolidated Statements of Loss at the end of each reporting period. The fair value of the options will continue to be classified as a liability until such time as they are exercised, expire or there is an amendment to the respective agreements that renders these financial instruments to be no longer classified as a liability. Stock-based compensation related to the grant of each of employee and non-employee options is summarized as follows for the years ended March 31, 2015 and 2014 and for the period from January 22, 2013 (date of incorporation) to March 31, 2013: Date of grant Number 2015 2014 2013 (restated) $ $ Employee options April 1, 2013 930,031 - 247,075 - October 30, 2013 2,300,000 50,303 560,082 - June 19, 2014 1,970,000 165,996 - - July 14, 2014 75,000 74,190 - - December 8, 2014 100,000 43,229 - - December 8, 2014 400,000 135,564 - - March 16, 2015 100,000 41,987 - - 5,875,031 511,269 807,157 - Options exercised (3,230,031 ) - - - 2,645,000 511,269 Non-employee options June 19, 2014 1,800,000 1,158,822 - - July 14, 2014 25,000 24,730 - - December 8, 2014 450,000 646,055 - - 2,275,000 1,824,607 - - 4,920,000 2,340,876 807,157 - Share-based payments are classified in the Company’s Statement of Loss as follows for the years ended March 31, 2015 and 2014 and for the period from January 22, 2013 (date of incorporation) to March 31, 2013: 2015 2014 2013 (restated) $ $ Consulting fees 1,167,281 807,157 4,250,000 Research and development 721,601 - 4,250,000 Wages and salaries 451,994 - 2,340,876 807,157 8,500,000 At March 31, 2015, the aggregate unamortized stock based compensation cost remaining to be recognized totals $2,303,664 with $2,070,656 expected to be recognized in the year ended March 31, 2016 and $233,008 expected to be recognized in the fiscal year ended March 31, 2017. The Company used the Black Scholes option pricing model to estimate the fair value of the options as the fair value of the services provided could not be reliably calculated. The following assumptions were used: March 31, 2015 March 31, 2014 Stock Price CAD$ 0.50 - 3.18 0.27 Exercise Price CAD$ 0.60 - 3.20 0.0003 Risk-free interest rate (%) 0.53 - 1.42 1.20 - 1.65 Dividend yield (%) 0.00 0.00 Expected volatility (%) 67.85 97.73 - 116.82 Expected option life (years) 3.00 - 5.00 4.33 - 5.00 The Black Scholes option pricing model was developed for use in estimating the fair value of share options that have no vesting provisions and are fully transferable. Also, option-pricing models require the use of estimates and assumptions including the expected volatility. The Company uses expected volatility rates which are based upon the average volatility rates of other companies in the same industry, due to the Company’s limited history. The Company based the current stock price on the value per shares issued to date. Changes in the underlying assumptions can materially affect the fair value estimates. (b) Share Purchase Warrants The Company closed its Private Placement at CAD $0.50 per unit of 15,240,000 units raising CAD $7.62 million on May 30, 2014. Each unit consists of one common stock of the Company and one half of a warrant of the Company where one full warrant is exercisable for 2 years at CAD $1.00 into one common share. The proceeds of the private placement were allocated between the common shares and the warrants on a relative fair value basis with an amount of $578,961 allocated to the warrants. In addition, the Company issued 824,400 finder’s warrants exercisable at CAD $1.00 for 2 years. The fair value of the finders’ warrants was determined to be $67,709. The fair values attributable to the warrants were determined by using the Black Scholes model based on the following assumptions: Stock price CAD$0.50 Exercise price CAD$1.00 Risk-free interest rate (%) 1.09 Dividend yield (%) - Expected volatility (%) 67.85 Expected option life (years) 1.17 The continuity of warrants for the period ended March 31, 2015 and 2014 is as follows: Warrants Outstanding Number of Weighted Average Exercise Price warrants Balance, March 31, 2013 and 2014 - $ - Granted 8,444,400 $ CAD1.00 Balance, March 31, 2015 8,444,400 $ CAD1.00 The warrants outstanding and exercisable at March 31, 2015 are as follows: Grant date Number of warrants outstanding Exercise Price (CAD) Fair value (CAD) Expiry Date 7,620,000 $1.00 $0.0899 May 30, 2016 824,400 $1.00 $0.0899 May 30, 2016 |
INCOME TAXES
INCOME TAXES | 12 Months Ended |
Mar. 31, 2015 | |
INCOME TAXES [Text Block] | 7. INCOME TAXES The components of net loss for the years ended March 31, 2015 and 2014 and for the period from January 22, 2013 (date of incorporation) to March 31, 2013 are as follows: 2015 2014 2013 $ $ $ U.S 9,301,988 1,067,284 8,517,850 Non-U.S. 536,329 - - 9,838,317 1,067,284 8.517,750 A reconciliation of the income tax provision computed at statutory rates to the reported income tax provision for the years ended March 31, 2015 and 2014 is as follows: 2015 2014 2013 $ $ $ Statutory tax rate 34.00% 25.00% 25.00% Loss before income taxes (9,838,317) (1,067,284) (8,517,850) Expected income tax recovery (3,345,000) (270,000) (2,151,000) Increase (decrease) in income tax recovery resulting from: Derivative liability 251,000 - Share based payments 796,000 275,000 2,890,000 Other permanent difference 12,000 - - Share issue costs (140,000) - Effect of change in statutory rate (41,000) (93,000) (745,000) Effect of foreign exchange 89,000 - Foreign income taxed at foreign rate 14,000 - Increase in valuation allowance 2,364,000 88,000 6,000 Income tax expense - - - The significant components of the Company’s deferred income tax assets and liabilities after applying enacted corporate tax rates at March 31, 2015 and 2014 are as follows: 2015 2014 2013 $ $ $ Deferred income tax assets (liabilities) Operating losses carried forward 2,074,000 94,000 6,000 Intangible costs 285,000 Share issuance costs 99,000 - Valuation allowance (2,458,000 ) (94,000 ) (6,000 ) Net deferred income tax asset - - - At March 31, 2015, the Company has accumulated non-capital losses totalling $1,463,000 in Canada and net operating losses of $5,853,000 in the USA, which are available to carry forward and offset future years’ taxable income. The losses expire in various amounts from 2016 to 2034. Uncertain Tax Positions The Company has adopted certain provisions of ASC 740, "Income Taxes", which prescribes a recognition threshold and measurement attribute for the recognition and measurement of tax positions taken or expected to be taken in income tax returns. The provisions also provide guidance on the de-recognition of income tax assets and liabilities, classification of current and deferred income tax assets and liabilities, and accounting for interest and penalties associated with tax positions. The Company files income tax returns in the U.S. federal jurisdiction, and in various state and foreign jurisdictions. The Company’s tax returns are subject to tax examinations by U.S. federal and state tax authorities, or examinations by foreign tax authorities until the expiration of the respective statutes of limitation. The Company currently has no tax years under examination. The Company is subject to tax examinations by tax authorities for all taxation years commencing after 2014. At March 31, 2015, the Company does not have an accrual relating to uncertain tax positions. It is not anticipated that unrecognized tax benefits would significantly increase or decrease within 12 months of the reporting date. |
CONVERTIBLE NOTE
CONVERTIBLE NOTE | 9 Months Ended |
Dec. 31, 2015 | |
CONVERTIBLE NOTE [Text Block] | 7. CONVERTIBLE NOTE On October 9, 2015, in connection with an Asset Purchase Agreement, the Company entered into a US$7.0 million funding commitment with A&B Company Limited (“A&B”). The funding commitment consisted of (i) an initial $2.0 million in the form of a convertible promissory note and (ii) an additional $5.0 million funding commitment, upon which the Company could draw down at any time or from time to time during the six-month period beginning on the issuance date of the Note. The Note would accrue interest at a rate equal to 6% per annum, payable in cash on the due date of April 9, 2016. The Company could elect to draw down the remaining $5.0 million commitment within six months. Such additional funding would be through the issuance of additional shares and warrants at a price based on the volume weighted average closing price of the Company’s shares of common stock. The Note was unsecured and the initial $2 million commitment was convertible at the option of the holder into units of the Company at $0.96 per unit. Each unit would consist of one share of common stock and one half share purchase warrant exercisable at $1.44 for a period of three years from the date of issuance. The Company could elect to draw down on the additional funding through the issuance of units of the Company at a price based on the volume weighted average closing price of the Company’s shares of common stock on the date the Company elects to draw down from the commitment (the “Draw Down Price”). Each unit would consist of one share of common stock of the Company and one half share purchase warrant. The warrant would be exercisable at the price representing a fifty percent ( 50%) premium to the Draw Down Price. On December 29, 2015, the Company drew down the remaining $5.0 million of the commitment at a price of $0.90 per unit, with each unit consisting of one share of common stock and one half warrant exercisable at $1.35 per share for a period of three years from the date of issuance. The shares were issued subsequent to December 31, 2015. Pursuant to the guidance of ASC 815 Derivatives and Hedging, the Company determined that the conversion feature embedded in the $2.0 million commitment under the Note was required to be bifurcated from the Note and accounted for as a liability because it was considered not to be indexed to the Company’s stock due to its exercise price being denominated in a currency other than the Company’s functional currency. Therefore, pursuant to the guidance of ASC 815-15, the Company allocated the proceeds from the issuance of the Note first to the fair value of the embedded conversion feature, with a corresponding discount allocated to the Note. The fair value of the embedded conversion feature was calculated using the Black Scholes pricing model using the following weighted average assumptions: Stock price - $0.73 ; Exercise price - $0.9877 ; Expected remaining life – 1.33 years; Volatility - 103.64%; Risk free rate of return – 0.3677% . This resulted in a debt discount of $425,208 in connection with the Note. This debt discount would be amortized using the effective interest method over the term of the Notes. During the nine months ended December 31, 2015, the Company did not record any accretion in respect of this discount, because the Note was immediately converted, as noted below. As agreed, the Company repaid the $2.0 million Note through the issuance of 2,083,333 shares of common stock at a price of $0.96 per share and 1,041,667 warrants exercisable at $1.44 for a period of three years from the date of issuance. The shares of common stock and the warrants were issued on November 10, 2015. As a result of the bifurcation of the embedded conversion option, for accounting purposes, two instruments were considered outstanding and, upon exercise of the contractual conversion option, extinguishment accounting has been applied. Consequently, the shares issued pursuant to the conversion are recorded at their fair value on the date of issuance, determined with reference to their quoted market price on the date of conversion. The resulting difference between the fair value of the shares issued, less the fair value of the related conversion feature and the carrying value of the related debt, is recorded as a gain or loss on the consolidated statement of operations. During the nine months ended December 31, 2015, the Company recorded a gain on extinguishment of debt of $268,334 in connection with the conversion of the Note. On December 29, 2015, the Company received the remaining $5.0 million commitment in accordance with the terms of this agreement. In exchange, the Company issued 5,555,556 common shares and 2,777,778 warrants exercisable at $1.35 for a period of three years from the date of issuance. The shares and warrants were delivered to A&B on January 7, 2016. As a result, the balance of the $5.0 million is reflected in the Company’s financial statements as an obligation to issue shares and warrants as at December 31, 2015. The bifurcation of the embedded conversion feature in the Note was classified as a Level 3 liability with the changes in fair value summarized as follows: Nine months ended Nine months ended Beginning fair value - - Bifurcation of embedded conversion feature 425,208 - Settlement of convertible debt (425,208 ) - Ending fair value of embedded conversion feature - - |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 9 Months Ended | 12 Months Ended |
Dec. 31, 2015 | Mar. 31, 2015 | |
COMMITMENTS AND CONTINGENCIES [Text Block] | 8. COMMITMENTS AND CONTINGENCIES (a) The Company entered into a license agreement with Advanced NeuroRehabilitation, LLC (“ANR”) for an exclusive right on ANR’s patent pending technology, claims and knowhow. In addition to the issuance of 16,035,026 shares, the Company agreed to pay a 4% royalty on net revenue on the sales of devices covered by the patent-pending technology and services related to the therapy or use of devices covered by the patent- pending technology. (b) On March 7, 2014, the Company entered into a commercial development-to-supply program with Ximedica where Ximedica will design, develop and produce PoNS™ product solution suitable for clinical trial and commercial sale. Under the program, the Company is responsible for ensuring the device is in compliance with relevant laws and regulations. The agreed budget for phase 1B of development is $499,000 ; phase 2 is $1,065,000 ; Phase 3 and 4 is $1,389,000 and 2 nd (c) On January 5, 2015, Wicab Inc. (“Wicab”) filed a complaint against us, NHC, our director Mitchell Tyler, and our former director Yuri Danilov, and ANR in the U.S. District Court for the Western District of Wisconsin. The complaint contained various state and common law claims arising from Messrs. Danilov’s and Tyler’s prior employment with Wicab and our two issued patents for the PoNS™ device. The complaint alleged, among other things, that following their departure from Wicab, Messrs. Danilov and Tyler knowingly filed patent applications for and used ideas and inventions developed at Wicab in violation of various non-competition and confidentiality agreements, and that our two issued patents are therefore rightfully the property of Wicab. The complaint sought an unspecified amount of monetary damages, an injunction preventing us from using the ideas and inventions in the two patents, an order transferring ownership of the patents from us to Wicab, and recovery of costs and attorneys’ fees. The complaint was voluntarily dismissed without prejudice on January 14, 2015. On October 12, 2015, the Company received a letter from Wicab alleging that the two issued patents were invalid in view of prior art cited in the letter, including scientific publications and patent applications, and that Paul Bach-y-Rita, Wicab’s founder, should have been named as an inventor on these two issued patents. Wicab indicated in the letter that it may file reexamination or inter partes review proceedings with the U.S. Patent Office to attempt to invalidate the claims in the two issued patents. Wicab also stated that it would consider an unspecified “business solution” to resolve this matter. On December 10, 2015, representatives of each of the Company and Wicab met to discuss the parameters of a potential settlement. There can be no guarantee that a settlement will be reached. In the event that a settlement with Wicab is not reached, Wicab may file reexamination or inter partes (d) On January 27, 2015 we received a demand letter containing allegations that we had entered into a consulting arrangement with the complainants and breached certain of its terms, and used certain intellectual property in the form of business and marketing plans allegedly prepared by the complainants, and seeking damages. On May 7, 2015, Mr. Rainier Maas and Dr. Jochen Scheld filed a complaint in the U.S. District Court for the Eastern District of Pennsylvania seeking monetary damages in excess of $225,000. On December 2, 2015 the Company entered into a settlement agreement with the plaintiffs for an amount of € 57,000 which was subsequently paid on January 12, 2016. The parties have since executed the settlement agreement for the aforementioned amount and the case has been dismissed without prejudice. (e) Under our Strategic Agreement with A&B if we fail to obtain FDA clearance for commercialization of or otherwise fail to ensure that the PoNS™ device is available for purchase by the U.S. Government by December 31, 2017, we are subject to a US$2,000,000 contract penalty payable to A&B. | 8. COMMITMENTS AND CONTINGENCIES (a) The Company entered into a license agreement with ANR for an exclusive right on ANR’s patent pending technology, claims and knowhow. In addition to the issuance of 16,035,026 shares (Note 5), the Company agreed to pay a 4% royalty on net revenue on the sales of devices covered by the patent-pending technology and services related to the therapy or use of devices covered by the patent-pending technology. (b) On March 7, 2014, the Company entered into a commercial development-to-supply program with Ximedica where Ximedica will design, develop and produce PoNS product solution suitable for clinical trial and commercial sale. Under the program, the Company is responsible for ensuring the device is in compliance with relevant laws and regulations. The agreed budget for phase 1B of development is $499,000 ; phase 2 is $1,065,000 ; Phase 3 and 4 is $1,389,000 and 2 nd (c) On January 5, 2015, Wicab filed a complaint against us, two of our directors, Yuri Danilov and Mitch Tyler, and ANR in the U.S. District Court for the Western District of Wisconsin. The complaint contained various state and common law claims arising from Danilov’s and Tyler’s prior employment with Wicab and our two issued patents for the PoNS™ device. The complaint alleged, among other things, that following their departure from Wicab, Danilov and Tyler knowingly filed patent applications for and used ideas and inventions developed at Wicab in violation of various non-competition and confidentiality agreements, and that our two issued patents are therefore rightfully the property of Wicab. The complaint sought an unspecified amount of monetary damages, an injunction preventing us from using the ideas and inventions in the two patents, an order transferring ownership of the patents from us to Wicab, and recovery of costs and attorneys’ fees. The complaint was voluntarily dismissed without prejudice on January 14, 2015. (d) On January 27, 2015 we received a demand letter containing allegations that we had entered into a consulting arrangement with the complainants and breached certain of its terms, and used certain intellectual property in the form of business and marketing plans allegedly prepared by the complainants, and seeking damages. On May 7, 2015, Mr. Rainier Maas and Dr. Jochen Scheld filed a complaint in the U.S. District Court for the Eastern District of Pennsylvania seeking monetary damages, and at this point management is unable to determine the outcome of this matter. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 9 Months Ended | 12 Months Ended |
Dec. 31, 2015 | Mar. 31, 2015 | |
RELATED PARTY TRANSACTIONS [Text Block] | 9. RELATED PARTY TRANSACTIONS For the three and nine month period During the three-month period ended December 31, 2015, $295,848 (December 31, 2014 - $63,524) was included in research & development expenses as the fair value of stock-based compensation attributed to the options granted to two directors and a consultant for consulting services rendered with respect to the design and development of the PoNS™ device. During the nine-month period ended December 31, 2015, $38,367 (December 31, 2014 - $351,878) was included in research & development expenses as the fair value of stock-based compensation attributed to the options granted to two directors and a consultant for consulting services rendered with respect to the design and development of the PoNS™ device. During the three-month period ended December 31, 2015, ($271,944) (December 31, 2014 – ($388,800)) was included in wages & salaries expenses as the fair value of stock-based compensation attributed to the options granted to directors. During the nine-month period ended December 31, 2015, $94,954 (December 31, 2014 - $48,009) was included in wages & salaries expenses as the fair value of stock-based compensation attributed to the options granted to directors. | 9. RELATED PARTY TRANSACTIONS For the year ended March 31, 2015, the Company was a party to the following related party transactions: During the period ended March 31, 2015, the Company paid $6,610 (March 31, 2014 - $nil ; March 31, 2013 - $nil) in consulting fees to a former director of the Company. During the period ended March 31, 2015, the Company paid $47,100 (March 31, 2014 - $nil ; March 31, 2013 - $nil) in consulting fees to directors of the Company. During the period ended March 31, 2015, the Company paid $99,146 (March 31, 2014 - $nil ; March 31, 2013 - $nil) to a company acting as the Company’s corporate advisor and Chief Financial Officer. During the period ended March 31, 2015, $1,040,854 (March 31, 2014 - $nil ; March 31, 2013 - $nil) was included in research & development expenses as the fair value of stock-based compensation attributed to the options granted to two directors and one advisor for services rendered as non-employee consultants with respect to the design and development of the PoNS device. During the period ended March 31, 2015, $451,994 (March 31, 2014 - $nil ; March 31, 2013 - $nil) was included in wages & salaries expenses as the fair value of stock-based compensation attributed to options granted to three directors. |
SOLE-SOURCE COST-SHARING AGREEM
SOLE-SOURCE COST-SHARING AGREEMENT | 9 Months Ended |
Dec. 31, 2015 | |
SOLE-SOURCE COST-SHARING AGREEMENT [Text Block] | 10. SOLE-SOURCE COST-SHARING AGREEMENT During the nine months ended December 31, 2015, the Company entered into a sole source cost sharing contract executed with the U.S. Army Medical Research and Materiel Command (“USAMRMC”). Under the terms of the contract, the USAMRMC will reimburse the Company up to a maximum of $2,996,244 representing approximately 62% of the Company’s estimated costs for the registrational trial (‘the trial”) investigating the safety and effectiveness of the portable neuromodulation stimulator for mild to moderate traumatic brain injury. The trial expires on December 31, 2016. As of December 31, 2015, the Company has received a total of $1,372,821 in respect of expenses reimbursed. Under the terms of the agreement, the USAMRMC may terminate their obligation at any time with 30 days written notice. |
SUPPLEMENTAL CASH FLOW INFORMAT
SUPPLEMENTAL CASH FLOW INFORMATION | 9 Months Ended | 12 Months Ended |
Dec. 31, 2015 | Mar. 31, 2015 | |
SUPPLEMENTAL CASH FLOW INFORMATION [Text Block] | 11. SUPPLEMENTAL CASH FLOW INFORMATION Investing and financing activities that do not have a direct impact on current cash flows are excluded from the statement of cash flows. During the nine months ended December 31, 2015; i) the Company issued 30,000 shares of common stock having a fair value of $23,959 based on their quoted market price as a bonus in connection with the advance of a loan; ii) the Company issued 2,083,333 common shares having a fair value of $1,525,000 based on their quoted market price upon the conversion of a convertible note payable in the amount of $2,000,000. Also, in connection with this debt conversion, the Company also issued 1,041,667 share purchase warrants having a fair value of $206,667 at their inception. iii) the Company reallocated $690,885 from additional paid-in capital to derivative liability in respect of the fair value of non-employee share purchase options that had vested. During the nine months ended December 31, 2014: i) the Company issued 2,564,705 common shares valued at $1,000,100 based on the carrying value of the convertible debenture upon its conversion; ii) the Company recorded a beneficial conversion feature of $176,488 in respect of a qualifying transaction recorded in connection with the convertible debenture; iii) The Company recorded a credit to additional paid-in capital of $162,890 representing the carrying values of the net assets acquired in a reverse merger recapitalization transaction. These transactions have been excluded from the statement of cash flows. | 10. SUPPLEMENTAL CASH FLOW INFORMATION Investing and financing activities that affect recognized assets or liabilities but that do not result in cash receipts or cash payments are excluded from the consolidated statements of cash flows. During the year ended March 31, 2015, the following transactions were excluded from the consolidated statement of cash flows: (a) The Company issued 2,564,705 common shares valued at $1,000,100 based on the carrying value of the convertible debenture upon its conversion. (Note 4) (b) The Company recorded a beneficial conversion feature of $176,488 in respect of a qualifying transaction recorded in connection with the convertible debenture ( Note 4) (c) The Company recorded a credit to additional paid-in capital of $162,890 representing the carrying values of the net assets acquired in a reverse merger recapitalization transaction. (Note 3). |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Mar. 31, 2015 | |
SUBSEQUENT EVENTS [Text Block] | 11. SUBSEQUENT EVENTS The Company has evaluated subsequent events through the date of the issuance of the financial statements. On April 30, 2015 the Company closed a non-brokered private placement (the "Financing") raising gross proceeds of CAD $2,208,110 (approximately USD $1,825,937) by the issuance of 849,273 units (each a "Unit") at a price of CAD $2.60 per Unit (USD $2.15 per Unit). Each Unit consists of one (1) common share and one half of one (1/2) common share purchase warrant (each a "Warrant"). Each whole Warrant entitles the holder thereof to purchase one additional common share of the Company at a price of approximately CAD $3.62 per share (USD $3.00 per share) for a period of thirty-six (36) months from the closing date of the Financing. The Company paid a cash finder’s fee of CAD101,494 (USD $84,074) in connection with this Financing, as well as 27,396 finder’s warrants (the "Finder’s Warrants"). Each Finder’s Warrant entitles the holder thereof to purchase one additional common share of the Company at a price of CAD $3.62 per share (USD $3.00 per share) for a period of thirty-six (36) months from the closing date of the Financing. On April 29, 2015, 14,400 finder’s warrants were exercised for gross proceeds of CAD $14,400. |
CORRECTION OF AN ERROR IN PREVI
CORRECTION OF AN ERROR IN PREVIOUSLY ISSUED FINANCIAL STATEMENTS | 9 Months Ended | 12 Months Ended |
Dec. 31, 2015 | Mar. 31, 2015 | |
CORRECTION OF AN ERROR IN PREVIOUSLY ISSUED FINANCIAL STATEMENTS [Text Block] | 12. CORRECTION OF AN ERROR IN PREVIOUSLY ISSUED FINANCIAL STATEMENTS The Company’s previously issued financial statements have been restated to reflect the correction of an error in the re-measurement of non-employee stock option awards that had yet to vest. This restatement was announced in the Company’s current report on Form 8-K filed on January 11, 2016. Previously, the Company had recorded the stock-based compensation for the period ended December 31, 2014 based on the fair value of the awards on their respective grant dates. Under the provisions of ASC 505-50, the Company is required to measure stock-based compensation for non-employees at the earlier of the performance commitment date or the date that the services have been completed. A performance commitment date exists only when the counterparty has sufficient disincentive not to complete. Otherwise, the Company is required to re-measure unvested non-employee options at their respective fair values until the services have been completed or once the options have vested. Under the terms of the Company’s stock option awards to non-employees, there were no performance disincentives. As a result the Company is required to re-measure its non-employee awards until they have vested. This also affects the calculation of the change in fair value of derivative liability which appears on the Company’s statements of comprehensive income (loss). The correction of the error is presented in the Company’s interim condensed consolidated financial statements for the period ended December 31, 2015 as follows: Three months ended December 31, 2014 As Originally Reported Adjustment As Restated Consulting fees $1,694,685 ($793,495) $901,190 Research and development $952,343 $239,463 $1,191,806 Wages and salaries $603,492 ($471,373) $132,119 Loss from operations ($4,117,423) $1,025,405 ($3,092,018) Interest and other income $2,845 $6,570 $9,415 Change in fair value of derivative liability ($55,589) ($20,947) ($76,536) Foreign exchange $687,148 ($6,570) $680,578 Net income (loss) for the period $(3,483,019) $1,004,458 $(2,478,561) Comprehensive income (loss) for the period $(4,190,894) $1,004,458 $(3,186,436) Basic and diluted loss per share $(0.06) $0.02 $(0.04) Nine months ended December 31, 2014 As Originally Reported Adjustment As Restated Consulting fees $2,336,051 ($1,168,508) $1,167,543 Research and development $2,668,529 $527,817 $3,196,346 Wages and salaries $1,253,494 ($569,119) $684,375 Loss from operations ($8,449,159) $1,209,810 ($7,239,349) Change in fair value of derivative liability ($818,382) $147,592 ($670,790) Net loss for the period $(9,156,043) $1,357,402 $(7,798,641) Comprehensive loss for the period $(9,551,073) $1,357,402 $(8,193,671) Basic and diluted loss per share $(0.17) $0.03 $(0.14) | 12. RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS The Company’s previously issued financial statements have been restated to reflect the correction of an error in the re-measurement of non-employee stock option awards that had yet to vest. Previously, the Company had recorded the stock-based compensation for the fiscal year ended March 31, 2015 based on the fair value of the awards on their respective grant dates. Under the provisions of ASC 505-50, the Company is required to measure stock-based compensation for non-employees at the earlier of the performance commitment date or the date that the services have been completed. A performance commitment date exists only when the counterparty has sufficient disincentive not to complete. Otherwise, the Company is required to re-measure unvested non-employee options at their respective fair values until the services have been or once the options have vested. Under the terms of the Company’s stock option awards to non-employees, there were no performance disincentives. As a result the Company is required to re-measure its non-employee awards until they have vested. See Note 2 “Significant Accounting Policies - Stock Based Compensation”. The correction of the error is presented in the Company’s consolidated financial statements for the year ended March 31, 2015 as follows: As Originally Reported Adjustment As Restated Research & development expenses $ 3,828,775 $ 671,298 $ 4,500,073 Net loss for the year $ 8,894,555 $ 943,762 $ 9,838,317 Comprehensive loss for the year $ 9,866,195 $ 943,762 $ 10,809,957 Basic and diluted loss per share $ (0.16 ) $ (0.01 ) $ (0.17 ) Additional paid-in capital 1,490,790 $ 943,762 $ 2,434,552 Accumulated deficit $ (18,479,689 ) $ (943,762 ) (19,423,451 ) Consulting fees $ 1,085,606 $ 272,464 $ 1,358,070 This error correction had no impact on the cash flows of the Company. Accordingly, there is no restatement affecting the Company’s net cash used in operating activities or net change in cash or cash equivalents for the reporting period. This error correction also had no impact on the Company’s opening accumulated deficit figure for the year ended March 31, 2015. Accordingly, there is no restatement affecting the Company’s opening accumulated deficit for the year ended March 31, 2015. |
RESTATEMENT OF PREVIOUSLY ISSUE
RESTATEMENT OF PREVIOUSLY ISSUED AND RESTATED FINANCIAL STATEMENTS | 9 Months Ended |
Dec. 31, 2015 | |
RESTATEMENT OF PREVIOUSLY ISSUED AND RESTATED FINANCIAL STATEMENTS [Text Block] | 13. RESTATEMENT OF PREVIOUSLY ISSUED AND RESTATED FINANCIAL STATEMENTS The Company’s previously issued and restated financial statements have been restated to reflect the correction of an error in the classification of the warrants issued in the First Financing and the Second Financing. Previously, the Company had recorded the First Financing Warrants, First Financing Finders Warrants, Second Financing Warrants, and Second Financing Finders Warrants (collectively, the “Warrants”) as equity instruments. Under the provisions of ASC 815-40-15, if the exercise price of an instrument is denominated in a currency other than the Company’s functional currency, the instrument shall not be considered as indexed to the Company’s own stock because it is exposed to fluctuations in foreign currency exchange rates. Instead, the instrument should be recorded as a liability at fair value through profit or loss. The functional currency of the Company is the Canadian dollar but the exercise prices of the Warrants are denominated in U.S. dollars, so under ASC 815-40-15, the Warrants must be classified as liabilities at fair value through profit or loss. As a result, the Company is required to reclassify the fair value of the Warrants from equity to liability through profit or loss. The correction of the error is presented in the Company’s interim condensed consolidated financial statements for the period ended December 31, 2015 as follows: Three months ended December 31, 2015 As reported after first restatement Adjustment As restated Change in fair value of derivative liability $(261,802) $(31,896) $(293,698) Net loss for the period ($2,400,539) $(31,896) $(2,432,435) Comprehensive loss for the period $(2,764,335) $(31,896) $(2,796,231) Basic gain (loss) per share ($0.04) $- ($0.04) Diluted gain (loss) per share ($0.04) $- ($0.04) Nine months ended December 31, 2015 As reported Adjustment As restated Change in fair value of derivative liability $1,627,844 $485,547 $2,113,391 Net loss for the period ($3,537,039) $485,547 $(3,051,492) Comprehensive loss for the period $(4,427,728) $485,547 $(3,942,181) Basic gain (loss) per share ($0.05) $- ($0.05) Diluted gain (loss) per share ($0.07) $0.01 ($0.06) As at December 31, 2015 As reported after first restatement Adjustment As Restated Derivative liability $830,378 $67,750 $898,128 Common stock $20,658,387 $(532,523) $20,125,864 Additional paid-in capital $2,175,973 $(20,774) $2,155,199 Accumulated deficit $(22,960,490) $485,547 $(22,474,943) There was no effect on cash flow for each of the periods and therefore there has been no restatement to the consolidated statements of cash flows. |
Summary of Significant Accounti
Summary of Significant Accounting Policies (Policies) | 9 Months Ended | 12 Months Ended |
Dec. 31, 2015 | Mar. 31, 2015 | |
Basis of Presentation and Liquidity [Policy Text Block] | Basis of Presentation and Liquidity The Company has incurred a net loss of $3,051,492 for the nine months ended December 31, 2015 and, as of December 31, 2015, the Company has an accumulated deficit of $22,474,943 (March 31, 2015 - $19,423,451). Until the Company generates a level of revenue to support its cost structure, the Company expects to continue to incur substantial operating losses and net cash outflows. While the Company had cash and cash equivalents of $4,350,350 as of December 31, 2015 (March 31, 2015 - $418,893), management does not believe these resources will be sufficient to meet the Company’s operating and capital needs for the ensuing fiscal year. The Company intends to fund ongoing activities by utilizing current cash and cash equivalents and by raising additional capital through equity or debt financings. There can be no assurance that the Company will be successful in raising additional capital or that such capital, if available, will be on terms that are acceptable to the Company. If the Company is unable to raise sufficient additional capital, the Company may be compelled to reduce the scope of its operations and planned capital expenditure or sell certain assets, including intellectual property assets. This material uncertainty gives rise to substantial doubt about the Company’s ability to continue as a going concern. | Basis of Presentation and Liquidity The Company’s consolidated financial statements have been presented in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") and the rules and regulations of the Securities and Exchange Commission ("SEC") that are published at the time of preparation and that are effective or available on March 31, 2015. The Company has incurred a net loss of $9,838,317 for the year ended March 31, 2015 and, as of March 31, 2015, the Company has an accumulated deficit of $19,423,451 (March 31, 2014 - $9,585,134 ; March 31, 2013 - $8,517,850). Until the Company generates a level of revenue to support its cost structure, the Company expects to continue to incur substantial operating losses and net cash outflows. While the Company had cash and cash equivalents of $418,893 as of March 31, 2015 (March 31, 2014 - $15,968), management does not believe these resources will be sufficient to meet the Company’s operating and capital needs for the ensuing fiscal year. The Company intends to fund ongoing activities by utilizing current cash and cash equivalents and by raising additional capital though equity or debt financings. There can be no assurance that the Company will be successful in raising additional capital or that such capital, if available, will be on terms that are acceptable to the Company. If the Company is unable to raise sufficient additional capital, the Company may be compelled to reduce the scope of its operations and planned capital expenditure or sell certain assets, including intellectual property asset. This material uncertainty gives rise to substantial doubt about the Company’s ability to continue as a going concern. |
Use of Estimates [Policy Text Block] | Use of Estimates The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and reported amounts of expenses during the reporting period. Significant estimates include valuation of share-based payment transactions, compensation expense related to shares issued for services, valuation of options and warrants and deferred income tax asset valuation allowances. Actual outcomes could differ from these estimates. Financial statements include estimates which, by their nature, are uncertain. The impacts of such estimates are pervasive throughout the financial statements, and may require accounting adjustments based on future occurrences. Revisions to accounting estimates are recognized in the period in which the estimate is revised and the revision affects both the current and future periods. | |
Principles of Consolidation [Policy Text Block] | Principles of Consolidation The consolidated financial statements include the historic accounts of Neuro and are consolidated with Helius and its subsidiaries beginning June 13, 2014. All intercompany balances and transactions have been eliminated in consolidation. | |
Cash and Cash Equivalents [Policy Text Block] | Cash and Cash Equivalents Cash and cash equivalents comprise cash at banks and on hand, and short-term highly liquid investments that have an insignificant interest rate risk and an original maturity of 3 months or less. | |
Short-term investment [Policy Text Block] | Short-term investment The short-term investments are readily redeemable term deposits held at the bank. As at March 31, 2015, the short-term investment consists of a one year guaranteed investment certificate ("GIC") in the amount of $378,000 yielding 0.25% per annum. Due to the Company’s intention to have the short-term investment available for liquidity purposes, it has been classified as available-for-sale and recorded at its fair value. Any unrealized gains or losses are excluded from earnings and are recorded in other comprehensive income. | |
Concentrations of Credit Risk [Policy Text Block] | Concentrations of Credit Risk The Company is subject to credit risk in respect of its cash and short-term investment. Amounts invested in such instruments are limited by credit rating, maturity, industry group, investment type and issuer. The Company is not currently exposed to any significant concentrations of credit risk from these financial instruments. The Company seeks to maintain safety and preservation of principal and diversification of risk, liquidity of investments sufficient to meet cash flow requirements and a competitive after-tax rate of return. | |
Stock-Based Compensation [Policy Text Block] | Stock-Based Compensation The Company accounts for all stock-based payments and awards under the fair value based method. The Company recognizes its stock-based compensation using the accelerated attribution method. Stock-based payments to non-employees are measured at the fair value of the consideration received, or the fair value of the equity instruments issued, or liabilities incurred, whichever is more reliably measurable. The fair value of stock-based payments to non-employees is periodically re-measured until the counterparty performance is complete, and any change therein is recognized over the vesting period of the award and in the same manner as if the Company had paid cash instead of paying with or using equity based instruments. The fair value of the stock-based payments to non-employees that are fully vested and non-forfeitable as at the grant date are measured and recognized at that date. The Company accounts for the granting of share purchase options to employees using the fair value method whereby all awards to employees will be recorded at fair value on the date of the grant. The fair value of all share purchase options are expensed over their vesting period with a corresponding increase to additional capital surplus. Upon exercise of share purchase options, the consideration paid by the option holder, together with the amount previously recognized in additional paid-in capital is recorded as an increase to share capital. Share purchase options granted to employees are accounted for as liabilities when they contain conditions or other features that are indexed to other than a market, performance or service condition. The Company uses the Black-Scholes option pricing model to calculate the fair value of share purchase options. Option pricing models require the input of highly subjective assumptions, including the expected price volatility. Changes in these assumptions can materially affect the fair value estimate. | |
Foreign Exchange [Policy Text Block] | Foreign Exchange The functional currency of the Company and Helius Canada is the Canadian Dollar and the functional currency of Neuro is the United States Dollars. The Company’s reporting currency is the US dollar. The assets and liabilities of the Company and Helius Canada are translated into U.S. dollars using year-end exchange rates; income and expenses are translated using the average exchange rates for the reporting period. Unrealized foreign currency translation adjustments are deferred in accumulated other comprehensive loss, a separate component of shareholders’ equity. The foreign exchange adjustment in the books of Neuro relating to inter-company advances from Helius that are denominated in Canadian dollars is recorded in the Statement of Loss. At March 31, 2015, Neuro recorded a foreign exchange gain of $573,917 in respect of this adjustment and which is reflected in the consolidated statement of loss for the year ended March 31, 2015. | |
Basic and Diluted Income (Loss) per Share [Policy Text Block] | Basic and Diluted Income (Loss) per Share Earnings or loss per share (“EPS”) is computed by dividing net income (loss) available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted EPS is computed by dividing net income (loss) by the weighted-average of all potentially dilutive shares of common stock that were outstanding during the periods presented. The number of shares potentially issuable at December 31, 2015 upon the exercise or conversion of share purchase warrants, share purchase options and conversion of convertible debentures totaled 19,633,969. The treasury stock method is used in calculating diluted EPS for potentially dilutive stock options and share purchase warrants, which assumes that any proceeds received from the exercise of in-the-money stock options and share purchase warrants, would be used to purchase common shares at the average market price for the period. EPS for convertible debt is calculated under the “if-converted” method. Under the if converted method, EPS is calculated as the more dilutive of EPS (i) including all interest (both cash interest and non-cash discount amortization) and excluding all shares underlying the convertible debt or; (ii) excluding all interest and costs directly related to the convertible debt (both cash interest and non-cash discount amortization) and including all shares underlying the convertible debt. | Net Loss per Common Share Basic net earnings (loss) per share is computed by dividing net earnings (loss) available to common stockholders by the weighted average number of outstanding common stock for the period, without consideration for common stock equivalents. Diluted net income (loss) per common share includes both the weighted-average number of common shares outstanding for the period plus the potentially dilutive securities from stock options and warrants outstanding determined using the treasury-stock method and the if-converted method, as applicable. As at March 31, 2015, there were 4,920,000 options (March 31, 2014 - 3,230,031 ; March 31, 2013 - nil) outstanding and 8,444,400 warrants (March 31, 2014 - nil; March 31, 2013 - nil) outstanding which have not been included in the weighted average common stock outstanding as these were anti-dilutive. |
Fair Value of Financial Assets and Liabilities [Policy Text Block] | Fair Value of Financial Assets and Liabilities The Company’s financial instruments consist primarily of cash and cash equivalents, accounts payable and accrued liabilities, and an obligation to issue shares and warrants. The book values of these instruments approximate their fair values due to the immediate or short-term nature of those instruments. 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 – Quoted prices in active markets for identical assets or liabilities; Level 2 – Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable; and Level 3 – Unobservable inputs that are supported by little or no market activity, therefore requiring an entity to develop its own assumptions about the assumptions that market participants would use in pricing. Cash and cash equivalents and short-term investment are measured using Level 1 inputs. | Fair Value of Financial Assets and Liabilities The Company’s financial instruments consist primarily of cash and cash equivalents, short-term investment and accounts payable and accrued liabilities. The book values of these instruments approximate their fair values due to the immediate or short-term nature of those instruments. 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 - Quoted prices in active markets for identical assets or liabilities; Level 2 - Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable; and Level 3 - Unobservable inputs that are supported by little or no market activity, therefore requiring an entity to develop its own assumptions about the assumptions that market participants would use in pricing. Cash and cash equivalents and short-term investment are measured using Level 1 inputs. The Company had certain Level 3 liabilities required to be recorded at fair value on a recurring basis in accordance with US GAAP as at March 31, 2015. As at March 31, 2015, the Company’s Level 3 liabilities consisted of the grant of share purchase options granted to non-employees. The resulting Level 3 liabilities have no active market and are required to be measured at their fair value each reporting period based on information that is unobservable. A summary of the Company’s Level 3 liabilities for the fiscal years ended March 31, 2015 and 2014 are as follows: March 31,2015 March 31, 2014 $ $ Non-employee options (Note 6(a)) Beginning fair value - - Issuance 767,879 - Reallocation of vested non-employee options 74,190 - Change in fair value 739,375 - Ending fair value of Level 3 liability 1,581,444 - Certain assets and liabilities are measured at fair value on a nonrecurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments only in certain circumstances (for example, when there is evidence of impairment). There were no assets or liabilities measured at fair value on a nonrecurring basis during the periods ended March 31, 2015 and 2014. |
Income Taxes [Policy Text Block] | Income Taxes The Company accounts for income taxes using the asset and liability method. The asset and liability method provides that deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating loss and tax credit carry-forwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized. The Company has adopted the provisions of FASB ASC 740 "Income Taxes" regarding accounting for uncertainty in income taxes. The Company initially recognizes tax provisions in the financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions are initially and subsequently measured as the largest amount of the tax benefit that is greater than 50% likely of being realized upon ultimate settlement with the tax authority, assuming full knowledge of the position and all relevant facts. Application requires numerous estimates based on available information. The Company considers many factors when evaluating and estimating its tax positions and tax benefits. These periodic adjustments may have a material impact on the consolidated statements of operations. When applicable, the Company classifies penalties and interest associated with uncertain tax positions as a component of income tax expense in its consolidated Statement of Income (Loss) and Comprehensive Income (Loss). | |
Research and Development Expenses [Policy Text Block] | Research and Development Expenses Research and development (R&D) expenses consist primarily of personnel costs, including salaries, benefits and stock-based compensation, clinical studies performed by contract research organizations and materials and supplies. R&D costs are charged to operations when they are incurred. | |
Derivative Liabilities [Policy Text Block] | Derivative Liabilities The Company evaluates its financial instruments and other contracts to determine if those contracts or embedded components of those contracts qualify as derivatives to be separately accounted for in accordance with ASC 815. The result of this accounting treatment is that the fair value of the embedded derivative is marked-to-market at each balance sheet date and recorded as a liability and the change in fair value is recorded in the consolidated statement of loss. Upon conversion or exercise of a derivative instrument, the instrument is marked to fair value at the conversion date and then that fair value is reclassified to equity. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is re-assessed at the end of each reporting period. Derivative instruments that become subject to reclassification are reclassified at the fair value of the instrument on the reclassification date. Derivative instrument liabilities will be classified in the balance sheet as current or non-current based on whether or not settlement of the derivative instrument is expected within 12 months of the balance sheet date. The Company uses the Black-Scholes option valuation model to value derivative liabilities. This model uses Level 3 inputs in the fair value hierarchy established by ASC 820 Fair Value Measurement. | |
Recent Accounting Pronouncements [Policy Text Block] | Recent Accounting Pronouncements In June 2014, the FASB issued ASU No. 2014-12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period ("ASU 2014-12"). ASU 2014-12 requires that a performance target that affects vesting, and that could be achieved after the requisite service period, be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant date fair value of the award. This update further clarifies that compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. The amendments in this ASU are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. The Company is currently evaluating the impact this guidance will have on its financial condition, results of operations and cash flows. In August 2014, the FASB issued ASU No. 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”). ASU 2014-15 will explicitly require management to assess an entity’s ability to continue as a going concern, and to provide related footnote disclosure in certain circumstances. The new standard will be effective for all entities in the first annual period ending after December 15, 2016. The Company is currently evaluating the impact this guidance will have on its financial condition, results of operations and cash flows. In May, 2014, the FASB and the International Accounting Standards Board (IASB) issued a converged standard on revenue recognition from contracts with customers, ASU 2014-09 (Topic 606 and IFRS 15). This standard will supersede nearly all existing revenue recognition guidance. ASU 2014-09 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. The Company is currently evaluating the impact this guidance will have on its financial condition, results of operations and cash flows. In April 2015, the FASB issued Accounting Standards Update No. 2015-03 Interest – Imputation of Interest (Subtopic 835-30). This guidance is to simplify the presentation of debt issuance costs by recognizing a debt liability in the balance sheet as a direct deduction from that debt liability consistent with the presentation of a debt discount. The amendments in this Update are effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. The Company is currently evaluating the impact of adoption of this new accounting pronouncement on its financial statements. | Recent Accounting Pronouncements In August 2014, the Financial Accounting Standards Board (the "FASB") issued Accounting Standards Update ("ASU") No. 2014-15, Presentation of Financial Statements - Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern In June 2014, the FASB issued ASU No. 2014-10, "Development Stage Entities" ("ASU 2014-10") which removes the definition of a development stage entity from the Master Glossary of the Accounting Standards Codification, thereby removing the financial reporting distinction between development stage entities and other reporting entities from U.S. GAAP. In addition, the update eliminates the requirements for development stage entities to (1) present inception-to-date information in the statements of income, cash flows, and shareholder equity, (2) label the financial statements as those of a development stage entity, (3) disclose a description of the development stage activities in which the entity is engaged, and (4) disclose in the first year in which the entity is no longer a development stage entity that in prior years it had been in the development stage. ASU No. 2014-10 is effective for fiscal years and interim periods beginning after December 15, 2014, with early adoption permissible. The Company early adopted ASU 2014-10 allowing the financial statements to be cast without the inception to date information and without references to the development stage. The amendments also clarify that the guidance in Topic 275, Risks and Uncertainties In June 2014, the FASB issued ASU No. 2014-12, Compensation - Stock Compensation (Topic 781): Accounting for Share-Based Payments When the Terms of an Award Provide that a Performance Target Could be Achieved after the Requisite Service Period In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) |
SIGNIFICANT ACCOUNTING POLICI24
SIGNIFICANT ACCOUNTING POLICIES (Tables) | 9 Months Ended | 12 Months Ended |
Dec. 31, 2015 | Mar. 31, 2015 | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Nine months ended Nine months ended December 31, 2015 December 31, 2014 $ $ Beginning fair value 1,581,444 - Issuance of warrants and non-employee options - 767,879 Reallocation of vested non-employee options 690,885 42,227 Change in fair value (1,725,520 ) 670,790 Ending fair value of non-employee options 546,809 1,480,896 | March 31,2015 March 31, 2014 $ $ Non-employee options (Note 6(a)) Beginning fair value - - Issuance 767,879 - Reallocation of vested non-employee options 74,190 - Change in fair value 739,375 - Ending fair value of Level 3 liability 1,581,444 - |
Schedule of Conversions of Stock [Table Text Block] | Nine months ended Nine months ended December 31, 2015 December 31, 2014 $ $ Beginning fair value - - Bifurcation of embedded conversion feature 425,208 - Settlement of convertible debt (425,208 ) - Ending fair value of embedded conversion feature - - | |
Schedule of Fair Value of Warrants [Table Text Block] | Beginning fair value - - Issuance of warrants 739,190 - Change in fair value (387,871 ) - Ending fair value of warrants 351,319 - Ending fair value of Level 3 liability 898,128 1,480,896 | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three months ended Nine months ended December December December December 31, 2015 31, 2014 31, 2015 31, 2014 (Restated – (Restated – (Restated – (Restated – Note 13) Note 13) Note 13) Note 13) Basic Numerator Net loss for the period $ (2,432,435 ) $ (2,478,561 ) $ (3,051,492 ) $ (7,798,641 ) Denominator Weighted average common shares outstanding 64,958,069 63,104,788 64,646,096 55,066,317 Basic net loss per share $ (0.04 ) $ (0.04 ) $ (0.05 ) $ (0.14 ) Diluted Numerator Net loss for diluted income per share $ (2,432,435 ) $ (2,478,561 ) $ (3,051,492 ) $ (7,798,641 ) Gain in fair value of options - - (1,094,449 ) - Loss available to common stockholders $ (2,432,435 ) $ (2,478,561 ) $ (4,145,941 ) $ (7,798,641 ) Denominator Weighted average common shares outstanding 64,958,069 63,104,788 64,646,096 55,066,317 Potential share issuances Common share options - - 534,822 - Common share warrants - - - - Weighted average number of common shares outstanding used in computing diluted earnings per share 64,958,069 63,104,788 65,180,918 55,066,317 Diluted earnings per share $ (0.04 ) $ (0.04 ) $ (0.06 ) $ (0.14 ) |
SHARE BASED PAYMENTS (Tables)
SHARE BASED PAYMENTS (Tables) | 9 Months Ended | 12 Months Ended |
Dec. 31, 2015 | Mar. 31, 2015 | |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Weighted Average Aggregate Exercise Price Intrinsic Value Number (CAD) (CAD) Balance outstanding at March 31, 2015 4,920,000 $ 1.14 $ 10,120,000 Exercised (94,640 ) $ 0.60 - Granted 1,850,000 0.88 - Balance outstanding at December 31, 2015 6,675,360 $ 1.08 $ 2,588,702 Balance exercisable at December 31, 2015 4,272,279 $ 1.16 $ 1,637,490 | Weighted Average Aggregate Exercise Price Intrinsic Value Number (CAD) (CAD) Balance, March 31, 2013 - - Granted 3,230,031 $ 0.0003 $ - Balance, March 31, 2014 3,230,031 $ 0.0003 $ - Granted 4,920,000 $ 1.14 $ - Exercised (3,230,031 ) $ 0.0003 $ - Balance outstanding at March 31, 2015 4,920,000 $ 1.14 $ 10,120,000 Balance exercisable at March 31, 2015 2,015,001 $ 1.41 $ 7,757,667 |
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | Options outstanding remaining Number of Number of contractual life Exercise Grant date fair options options Expiry date (years) Price (CAD) value (CAD) exercisable 3,520,000 June 18, 2019 3.46 $ 0.60 $ 0.23 2,346,667 155,360 June 20, 2019 3.46 $ 0.60 $ 0.23 124,110 100,000 July 14, 2017 1.54 $ 2.52 $ 1.06 100,000 450,000 December 8, 2019 3.94 $ 2.92 $ 1.65 450,000 100,000 December 8, 2019 3.94 $ 2.92 $ 1.49 66,667 400,000 December 8, 2019 3.94 $ 2.96 $ 1.56 300,000 100,000 March 16, 2020 4.21 $ 3.20 $ 1.61 33,334 50,000 August 15, 2015 4.62 $ 0.98 $ 0.39 16,667 750,000 October 21, 2020 4.81 $ 0.87 $ 0.33 187,500 550,000 October 28, 2020 4.83 $ 0.84 $ 0.44 550,000 400,000 October 28,2020 4.83 $ 0.84 $ 0.36 64,000 100,000 December 31, 2020 5.00 $ 1.24 $ 0.50 33,334 6,675,360 4,272,279 | Options outstanding remaining contractual life Exercise Grant date fair Number of options Number of options Expiry date (years) Price (CAD) value (CAD) exercisable 3,520,000 June 18, 2019 4.22 $ 0.60 $ 0.23 1,173,333 250,000 June 20, 2019 4.22 $ 0.60 $ 0.23 125,000 100,000 July 14, 2017 2.29 $ 2.52 $ 1.06 100,000 450,000 December 8, 2019 4.69 $ 2.92 $ 1.65 450,000 100,000 December 8, 2019 4.69 $ 2.92 $ 1.49 33,334 400,000 December 8, 2019 4.69 $ 2.96 $ 1.56 100,000 100,000 March 16, 2020 4.96 $ 3.20 $ 1.61 33,334 4,920,000 2,015,001 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | December 31, 2015 December 31, 2014 Stock price $0.822 $1.33 Exercise Price $0.878 $1.10 Expected life 3.6 years 3.9 years Expected volatility 67.85% 67.85% Risk – free interest rate 0.84% 1.32% Dividend rate 0.00% 0.00% | March 31, 2015 March 31, 2014 Stock Price CAD$ 0.50 - 3.18 0.27 Exercise Price CAD$ 0.60 - 3.20 0.0003 Risk-free interest rate (%) 0.53 - 1.42 1.20 - 1.65 Dividend yield (%) 0.00 0.00 Expected volatility (%) 67.85 97.73 - 116.82 Expected option life (years) 3.00 - 5.00 4.33 - 5.00 |
Schedule of Non-Employee Share-based Compensation Arrangements Fair Values [Table Text Block] | Nine months ended December 31, 2015 $ Nine months ended December 31, 2014 $ Fair value of non-employee options, beginning of the period 1,581,444 - Issuance - 767,879 Reallocation of vested non-employee options 690,885 42,227 Change in fair value of non-employee stock options during the period (725,520) 739,375 Fair value of non-employee options, end of the period 1,546,809 1,549,481 | 2015 2014 $ $ Fair value of non-employee options, beginning of the period - - Fair value of non-employee options, at issuance 767,879 - Reallocation of vested non-employee options 74,190 Change in fair value of non-employee stock options during the period 739,375 - Fair value of non-employee options, end of the period 1,581,444 - |
Share-Based Payments Classified in the Companys Statement of Loss [Table Text Block] | Three months ended December 31, 2015 Nine months ended December 31, 2015 Three months ended December 31, 2014 Nine months ended December 31, 2014 Consulting fees (36,300) (45,199) 871,269 1,033,200 Research and development 315,031 57,550 239,463 578,120 Wages and salaries 52,737 419,635 (77,784) 359,025 331,468 431,986 1,032,948 1,970,345 | 2015 2014 2013 (restated) $ $ Consulting fees 1,167,281 807,157 4,250,000 Research and development 721,601 - 4,250,000 Wages and salaries 451,994 - 2,340,876 807,157 8,500,000 |
Schedule of Warrants, Fair Values [Table Text Block] | Nine months ended December 31, 2015 $ Nine months ended December 31, 2014 $ Fair value of warrants, beginning of the period - - Issuance 739,190 - Change in fair value of warrants during the period (387,871) - Fair value of warrants, end of the period 351,319 - | |
Schedule of Share-based Payment Award, Warrants, Valuation Assumptions [Table Text Block] | December 31, 2015 December 31, 2014 Stock price $0.73 - Exercise Price $1.44 - Expected life 3.0 years - Expected volatility 67.85% - Risk – free interest rate 0.96% - Dividend rate 0.00% - | Stock price CAD$0.50 Exercise price CAD$1.00 Risk-free interest rate (%) 1.09 Dividend yield (%) - Expected volatility (%) 67.85 Expected option life (years) 1.17 |
Schedule of Stockholder's Equity Note Warrants Or Rights Activity [Table Text Block] | Number of warrants Weighted Average Exercise Price CAD US CAD $ US $ Balance March 31, 2015 8,444,400 - $1.00 - Granted 1,750,831 - 2.06 Exercised (14,400) - $1.00 - Balance December 31, 2015 8,430,000 1,750,831 $1.00 2.06 | Warrants Outstanding Number of Weighted Average Exercise Price warrants Balance, March 31, 2013 and 2014 - $ - Granted 8,444,400 $ CAD1.00 Balance, March 31, 2015 8,444,400 $ CAD1.00 |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Number of warrants outstanding Exercise Price Expiry Date 8,430,000 CAD $1.00 May 30, 2016 452,032 US $3.00 April 30, 2018 167,731 US $3.00 June 26, 2018 18,978 US $2.15 June 26, 2020 62,878 US $3.00 July 17, 2018 7,545 US $2.15 July 17, 2020 1,041,667 US $1.44 November 10, 2018 | Grant date Number of warrants outstanding Exercise Price (CAD) Fair value (CAD) Expiry Date 7,620,000 $1.00 $0.0899 May 30, 2016 824,400 $1.00 $0.0899 May 30, 2016 |
Stock-Based Compensation Related to the Grant of Each of Employee and Non-Employee Options [Table Text Block] | Date of grant Number 2015 2014 2013 (restated) $ $ Employee options April 1, 2013 930,031 - 247,075 - October 30, 2013 2,300,000 50,303 560,082 - June 19, 2014 1,970,000 165,996 - - July 14, 2014 75,000 74,190 - - December 8, 2014 100,000 43,229 - - December 8, 2014 400,000 135,564 - - March 16, 2015 100,000 41,987 - - 5,875,031 511,269 807,157 - Options exercised (3,230,031 ) - - - 2,645,000 511,269 Non-employee options June 19, 2014 1,800,000 1,158,822 - - July 14, 2014 25,000 24,730 - - December 8, 2014 450,000 646,055 - - 2,275,000 1,824,607 - - 4,920,000 2,340,876 807,157 - |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 12 Months Ended |
Mar. 31, 2015 | |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | 2015 2014 2013 $ $ $ U.S 9,301,988 1,067,284 8,517,850 Non-U.S. 536,329 - - 9,838,317 1,067,284 8.517,750 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 2015 2014 2013 $ $ $ Statutory tax rate 34.00% 25.00% 25.00% Loss before income taxes (9,838,317) (1,067,284) (8,517,850) Expected income tax recovery (3,345,000) (270,000) (2,151,000) Increase (decrease) in income tax recovery resulting from: Derivative liability 251,000 - Share based payments 796,000 275,000 2,890,000 Other permanent difference 12,000 - - Share issue costs (140,000) - Effect of change in statutory rate (41,000) (93,000) (745,000) Effect of foreign exchange 89,000 - Foreign income taxed at foreign rate 14,000 - Increase in valuation allowance 2,364,000 88,000 6,000 Income tax expense - - - |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 2015 2014 2013 $ $ $ Deferred income tax assets (liabilities) Operating losses carried forward 2,074,000 94,000 6,000 Intangible costs 285,000 Share issuance costs 99,000 - Valuation allowance (2,458,000 ) (94,000 ) (6,000 ) Net deferred income tax asset - - - |
CONVERTIBLE NOTE (Tables)
CONVERTIBLE NOTE (Tables) | 9 Months Ended |
Dec. 31, 2015 | |
Bifurcation of Embedded Conversion Feature [Table Text Block] | Nine months ended Nine months ended Beginning fair value - - Bifurcation of embedded conversion feature 425,208 - Settlement of convertible debt (425,208 ) - Ending fair value of embedded conversion feature - - |
CORRECTION OF AN ERROR IN PRE28
CORRECTION OF AN ERROR IN PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Tables) | 3 Months Ended | 9 Months Ended | 12 Months Ended |
Dec. 31, 2014 | Dec. 31, 2014 | Mar. 31, 2015 | |
Schedule of Error Corrections and Prior Period Adjustments in Statement of Operations [Table Text Block] | Three months ended December 31, 2014 As Originally Reported Adjustment As Restated Consulting fees $1,694,685 ($793,495) $901,190 Research and development $952,343 $239,463 $1,191,806 Wages and salaries $603,492 ($471,373) $132,119 Loss from operations ($4,117,423) $1,025,405 ($3,092,018) Interest and other income $2,845 $6,570 $9,415 Change in fair value of derivative liability ($55,589) ($20,947) ($76,536) Foreign exchange $687,148 ($6,570) $680,578 Net income (loss) for the period $(3,483,019) $1,004,458 $(2,478,561) Comprehensive income (loss) for the period $(4,190,894) $1,004,458 $(3,186,436) Basic and diluted loss per share $(0.06) $0.02 $(0.04) | Nine months ended December 31, 2014 As Originally Reported Adjustment As Restated Consulting fees $2,336,051 ($1,168,508) $1,167,543 Research and development $2,668,529 $527,817 $3,196,346 Wages and salaries $1,253,494 ($569,119) $684,375 Loss from operations ($8,449,159) $1,209,810 ($7,239,349) Change in fair value of derivative liability ($818,382) $147,592 ($670,790) Net loss for the period $(9,156,043) $1,357,402 $(7,798,641) Comprehensive loss for the period $(9,551,073) $1,357,402 $(8,193,671) Basic and diluted loss per share $(0.17) $0.03 $(0.14) | Cash and cash equivalents $ 23,904 Receivables 1,644 Bridge loan receivable 150,000 Prepaid expenses 5,970 Accounts payable and accrued liabilities (18,628 ) $ 162,890 |
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block] | As Originally Reported Adjustment As Restated Research & development expenses $ 3,828,775 $ 671,298 $ 4,500,073 Net loss for the year $ 8,894,555 $ 943,762 $ 9,838,317 Comprehensive loss for the year $ 9,866,195 $ 943,762 $ 10,809,957 Basic and diluted loss per share $ (0.16 ) $ (0.01 ) $ (0.17 ) Additional paid-in capital 1,490,790 $ 943,762 $ 2,434,552 Accumulated deficit $ (18,479,689 ) $ (943,762 ) (19,423,451 ) Consulting fees $ 1,085,606 $ 272,464 $ 1,358,070 |
RESTATEMENT OF PREVIOUSLY ISS29
RESTATEMENT OF PREVIOUSLY ISSUED AND RESTATED FINANCIAL STATEMENTS (Tables) | 3 Months Ended | 9 Months Ended |
Dec. 31, 2015 | Dec. 31, 2015 | |
Schedule of Error Corrections and Prior Period Adjustments in Condensed Consolidated Financial Statements[Table Text Block] | Three months ended December 31, 2015 As reported after first restatement Adjustment As restated Change in fair value of derivative liability $(261,802) $(31,896) $(293,698) Net loss for the period ($2,400,539) $(31,896) $(2,432,435) Comprehensive loss for the period $(2,764,335) $(31,896) $(2,796,231) Basic gain (loss) per share ($0.04) $- ($0.04) Diluted gain (loss) per share ($0.04) $- ($0.04) | Nine months ended December 31, 2015 As reported Adjustment As restated Change in fair value of derivative liability $1,627,844 $485,547 $2,113,391 Net loss for the period ($3,537,039) $485,547 $(3,051,492) Comprehensive loss for the period $(4,427,728) $485,547 $(3,942,181) Basic gain (loss) per share ($0.05) $- ($0.05) Diluted gain (loss) per share ($0.07) $0.01 ($0.06) |
Schedule Of Error Corrections And Prior Period Adjustments Text Block [Table Text Block] | As at December 31, 2015 As reported after first restatement Adjustment As Restated Derivative liability $830,378 $67,750 $898,128 Common stock $20,658,387 $(532,523) $20,125,864 Additional paid-in capital $2,175,973 $(20,774) $2,155,199 Accumulated deficit $(22,960,490) $485,547 $(22,474,943) |
BASIS OF PRESENTATION (Narrativ
BASIS OF PRESENTATION (Narrative) (Details) | 12 Months Ended |
Mar. 31, 2015 | |
Basis Of Presentation 1 | 100.00% |
SIGNIFICANT ACCOUNTING POLICI31
SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) | 9 Months Ended | 12 Months Ended |
Dec. 31, 2015USD ($) | Mar. 31, 2015USD ($)moshares | |
Significant Accounting Policies 1 | $ 9,838,317 | |
Significant Accounting Policies 2 | 19,423,451 | |
Significant Accounting Policies 3 | 9,585,134 | |
Significant Accounting Policies 4 | 8,517,850 | |
Significant Accounting Policies 5 | 418,893 | |
Significant Accounting Policies 6 | $ 15,968 | |
Significant Accounting Policies 7 | mo | 3 | |
Significant Accounting Policies 8 | $ 378,000 | |
Significant Accounting Policies 9 | 0.25% | |
Significant Accounting Policies 10 | $ 573,917 | |
Significant Accounting Policies 11 | shares | 4,920,000 | |
Significant Accounting Policies 12 | 3,230,031 | |
Significant Accounting Policies 13 | 2,013 | |
Significant Accounting Policies 14 | 0 | |
Significant Accounting Policies 15 | shares | 8,444,400 | |
Significant Accounting Policies 16 | 0 | |
Significant Accounting Policies 17 | 50.00% | |
Significant Accounting Policies 18 | mo | 12 | |
Significant Accounting Policies 1 | $ 3,051,492 | |
Significant Accounting Policies 2 | 22,474,943 | |
Significant Accounting Policies 3 | 19,423,451 | |
Significant Accounting Policies 4 | 4,350,350 | |
Significant Accounting Policies 5 | $ 418,893 | |
Significant Accounting Policies 6 | 19,633,969 |
RECAPITALIZATION (Narrative) (D
RECAPITALIZATION (Narrative) (Details) - 12 months ended Mar. 31, 2015 | USD ($)shares | CADCAD / sharesshares |
Recapitalization 1 | 100.00% | 100.00% |
Recapitalization 2 | shares | 35,300,083 | 35,300,083 |
Recapitalization 3 | $ 150,000 | |
Recapitalization 4 | 8.00% | 8.00% |
Recapitalization 5 | $ 162,890 | |
Recapitalization 6 | shares | 15,240,000 | 15,240,000 |
Recapitalization 7 | CAD / shares | CAD 0.50 | |
Recapitalization 8 | $ 7,016,002 | |
Recapitalization 9 | CAD | CAD 7,620,000 | |
Recapitalization 10 | CAD | 1 | |
Recapitalization 11 | $ 379,806 | |
Recapitalization 12 | CAD | CAD 412,200 | |
Recapitalization 13 | 824,400 | 824,400 |
Recapitalization 14 | CAD / shares | CAD 1 |
CONVERTIBLE DEBENTURE (Narrativ
CONVERTIBLE DEBENTURE (Narrative) (Details) - USD ($) | 9 Months Ended | 12 Months Ended |
Dec. 31, 2015 | Mar. 31, 2015 | |
Convertible Debenture 1 | 8.00% | |
Convertible Debenture 2 | $ 1,000,100 | |
Convertible Debenture 3 | $ 2,000,000 | |
Convertible Debenture 4 | 85.00% | |
Convertible Debenture 5 | $ 8,500,000 | |
Convertible Debenture 6 | 85.00% | |
Convertible Debenture 7 | $ 176,488 | |
Convertible Debenture 8 | 2,564,705 | |
Convertible Debenture 9 | $ 11,131 | |
Convertible Debenture 1 | 8.00% | |
Convertible Debenture 2 | $ 1,000,100 | |
Convertible Debenture 3 | 85.00% | |
Convertible Debenture 4 | $ 176,488 |
PROMISSORY NOTE (Narrative) (De
PROMISSORY NOTE (Narrative) (Details) | 9 Months Ended |
Dec. 31, 2015USD ($)shares | |
Promissory Note 1 | $ 200,000 |
Promissory Note 2 | 6.00% |
Promissory Note 3 | 10.00% |
Promissory Note 4 | shares | 30,000 |
Promissory Note 5 | shares | 30,000 |
Promissory Note 6 | 30,000 |
Promissory Note 7 | $ 23,959 |
Promissory Note 8 | $ 1,644 |
COMMON STOCK (Narrative) (Detai
COMMON STOCK (Narrative) (Details) | 9 Months Ended | 12 Months Ended | |
Dec. 31, 2015USD ($)$ / sharesshares | Mar. 31, 2015USD ($)moyrshares | Mar. 31, 2015CADmoyrCAD / sharesshares | |
Common Stock 1 | shares | 16,035,026 | 16,035,026 | |
Common Stock 2 | $ 5,000 | ||
Common Stock 3 | 4,250,000 | ||
Common Stock 4 | $ 4,250,000 | ||
Common Stock 5 | shares | 16,035,026 | 16,035,026 | |
Common Stock 6 | $ 5,000 | ||
Common Stock 7 | $ 4,250,000 | ||
Common Stock 8 | shares | 2,300,000 | 2,300,000 | |
Common Stock 9 | shares | 2,300,000 | 2,300,000 | |
Common Stock 10 | $ 717 | ||
Common Stock 11 | shares | 930,031 | 930,031 | |
Common Stock 12 | shares | 930,031 | 930,031 | |
Common Stock 13 | $ 290 | ||
Common Stock 14 | shares | 32,070,052 | 32,070,052 | |
Common Stock 15 | yr | 3 | 3 | |
Common Stock 16 | 10.00% | 10.00% | |
Common Stock 17 | 15.00% | 15.00% | |
Common Stock 18 | mo | 6 | 6 | |
Common Stock 19 | shares | 35,300,083 | 35,300,083 | |
Common Stock 20 | CAD / shares | CAD 0.50 | ||
Common Stock 21 | shares | 15,240,000 | 15,240,000 | |
Common Stock 22 | $ 7,016,002 | ||
Common Stock 23 | CAD | CAD 7,620,000 | ||
Common Stock 24 | yr | 2 | 2 | |
Common Stock 25 | CAD | CAD 1 | ||
Common Stock 26 | $ 578,961 | ||
Common Stock 1 | $ 1,825,937 | ||
Common Stock 2 | shares | 849,273 | ||
Common Stock 3 | $ 2.15 | ||
Common Stock 4 | $ / shares | $ 3 | ||
Common Stock 5 | $ 84,074 | ||
Common Stock 6 | 27,396 | ||
Common Stock 7 | $ / shares | $ 3 | ||
Common Stock 8 | $ 721,243 | ||
Common Stock 9 | shares | 335,463 | ||
Common Stock 10 | $ 2.15 | ||
Common Stock 11 | $ / shares | $ 3 | ||
Common Stock 12 | $ 40,803 | ||
Common Stock 13 | 18,978 | ||
Common Stock 14 | $ / shares | $ 2.15 | ||
Common Stock 15 | $ 270,375 | ||
Common Stock 16 | shares | 125,756 | ||
Common Stock 17 | $ 2.15 | ||
Common Stock 18 | $ / shares | $ 3 | ||
Common Stock 19 | $ 16,223 | ||
Common Stock 20 | 7,545 | ||
Common Stock 21 | $ / shares | $ 2.15 | ||
Common Stock 22 | $ 7,000,000 | ||
Common Stock 23 | 2,000,000 | ||
Common Stock 24 | $ 5,000,000 |
SHARE BASED PAYMENTS (Narrative
SHARE BASED PAYMENTS (Narrative) (Details) | 9 Months Ended | 12 Months Ended | |
Dec. 31, 2015shares | Mar. 31, 2015USD ($)yrshares | Mar. 31, 2015CADyrCAD / sharesshares | |
Share Based Payments 1 | 12,108,016 | 12,108,016 | |
Share Based Payments 2 | 930,031 | 930,031 | |
Share Based Payments 3 | yr | 10 | 10 | |
Share Based Payments 4 | 654,481 | 654,481 | |
Share Based Payments 5 | 930,031 | 930,031 | |
Share Based Payments 6 | 2,300,000 | 2,300,000 | |
Share Based Payments 7 | yr | 10 | 10 | |
Share Based Payments 8 | 1,150,000 | 1,150,000 | |
Share Based Payments 9 | 1,150,000 | 1,150,000 | |
Share Based Payments 10 | 2,300,000 | 2,300,000 | |
Share Based Payments 11 | 2,300,000 | 2,300,000 | |
Share Based Payments 12 | 3,520,000 | 3,520,000 | |
Share Based Payments 13 | CAD | CAD 0.60 | ||
Share Based Payments 14 | yr | 5 | 5 | |
Share Based Payments 15 | 250,000 | 250,000 | |
Share Based Payments 16 | CAD | CAD 0.60 | ||
Share Based Payments 17 | yr | 5 | 5 | |
Share Based Payments 18 | 12.50% | 12.50% | |
Share Based Payments 19 | 87.50% | 87.50% | |
Share Based Payments 20 | 12.50% | 12.50% | |
Share Based Payments 21 | 100,000 | 100,000 | |
Share Based Payments 22 | CAD | CAD 2.52 | ||
Share Based Payments 23 | yr | 3 | 3 | |
Share Based Payments 24 | 25.00% | 25.00% | |
Share Based Payments 25 | 25.00% | 25.00% | |
Share Based Payments 26 | 450,000 | 450,000 | |
Share Based Payments 27 | CAD | CAD 2.92 | ||
Share Based Payments 28 | yr | 5 | 5 | |
Share Based Payments 29 | 100,000 | 100,000 | |
Share Based Payments 30 | CAD | CAD 2.92 | ||
Share Based Payments 31 | yr | 5 | 5 | |
Share Based Payments 32 | 400,000 | 400,000 | |
Share Based Payments 33 | CAD | CAD 2.96 | ||
Share Based Payments 34 | yr | 5 | 5 | |
Share Based Payments 35 | 25.00% | 25.00% | |
Share Based Payments 36 | 25.00% | 25.00% | |
Share Based Payments 37 | 100,000 | 100,000 | |
Share Based Payments 38 | CAD | CAD 3.20 | ||
Share Based Payments 39 | yr | 5 | 5 | |
Share Based Payments 40 | CAD | CAD 0.54 | ||
Share Based Payments 41 | CAD | 1.06 | ||
Share Based Payments 42 | CAD | CAD 1.14 | ||
Share Based Payments 43 | 1.08% | 1.08% | |
Share Based Payments 44 | yr | 4.1 | 4.1 | |
Share Based Payments 45 | 67.85% | 67.85% | |
Share Based Payments 46 | 0.00% | 0.00% | |
Share Based Payments 105 | $ | $ 2,303,664 | ||
Share Based Payments 106 | $ | 2,070,656 | ||
Share Based Payments 107 | $ | $ 233,008 | ||
Share Based Payments 108 | CAD / shares | CAD 0.50 | ||
Share Based Payments 109 | 15,240,000 | 15,240,000 | |
Share Based Payments 110 | CAD | CAD 7,620,000 | ||
Share Based Payments 111 | yr | 2 | 2 | |
Share Based Payments 112 | CAD | CAD 1 | ||
Share Based Payments 113 | $ | $ 578,961 | ||
Share Based Payments 114 | 824,400 | 824,400 | |
Share Based Payments 115 | CAD | CAD 1 | ||
Share Based Payments 116 | yr | 2 | 2 | |
Share Based Payments 117 | $ | $ 67,709 | ||
Blah 2 | 12,108,016 | ||
Blah 147 | 1,750,931 |
INCOME TAXES (Narrative) (Detai
INCOME TAXES (Narrative) (Details) | 12 Months Ended |
Mar. 31, 2015USD ($)mo | |
Income Taxes 1 | $ 1,463,000 |
Income Taxes 2 | $ 5,853,000 |
Income Taxes 3 | mo | 12 |
CONVERTIBLE NOTE (Narrative) (D
CONVERTIBLE NOTE (Narrative) (Details) | 9 Months Ended |
Dec. 31, 2015USD ($)yr$ / sharesshares | |
Convertible Note 1 | $ 7,000,000 |
Convertible Note 2 | 2,000,000 |
Convertible Note 3 | $ 5,000,000 |
Convertible Note 4 | 6.00% |
Convertible Note 5 | $ 5,000,000 |
Convertible Note 6 | $ 2,000,000 |
Convertible Note 7 | $ / shares | $ 0.96 |
Convertible Note 8 | $ 1.44 |
Convertible Note 9 | 50.00% |
Convertible Note 10 | $ 5,000,000 |
Convertible Note 11 | $ / shares | $ 0.90 |
Convertible Note 12 | $ / shares | $ 1.35 |
Convertible Note 13 | $ 2,000,000 |
Convertible Note 14 | 0.73 |
Convertible Note 15 | $ 0.9877 |
Convertible Note 16 | yr | 1.33 |
Convertible Note 17 | 103.64% |
Convertible Note 18 | 0.3677% |
Convertible Note 19 | $ 425,208 |
Convertible Note 20 | $ 2,000,000 |
Convertible Note 21 | shares | 2,083,333 |
Convertible Note 22 | $ / shares | $ 0.96 |
Convertible Note 23 | shares | 1,041,667 |
Convertible Note 24 | $ 1.44 |
Convertible Note 25 | 268,334 |
Convertible Note 26 | $ 5,000,000 |
Convertible Note 27 | shares | 5,555,556 |
Convertible Note 28 | shares | 2,777,778 |
Convertible Note 29 | $ 1.35 |
Convertible Note 30 | $ 5,000,000 |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Narrative) (Details) | 9 Months Ended | 12 Months Ended | |
Dec. 31, 2015USD ($)dshares | Dec. 31, 2015EUR (€)dshares | Mar. 31, 2015USD ($)modshares | |
Commitments And Contingencies 1 | shares | 16,035,026 | ||
Commitments And Contingencies 2 | 4.00% | ||
Commitments And Contingencies 3 | $ 499,000 | ||
Commitments And Contingencies 4 | 1,065,000 | ||
Commitments And Contingencies 5 | 1,389,000 | ||
Commitments And Contingencies 6 | 586,000 | ||
Commitments And Contingencies 7 | $ 3,099,998 | ||
Commitments And Contingencies 8 | mo | 10 | ||
Commitments And Contingencies 9 | d | 30 | ||
Commitments And Contingencies 10 | $ 300,000 | ||
Commitments And Contingencies 11 | 2,928,217 | ||
Commitments And Contingencies 12 | $ 171,781 | ||
Commitments And Contingencies 1 | shares | 16,035,026 | 16,035,026 | |
Commitments And Contingencies 2 | 4.00% | 4.00% | |
Commitments And Contingencies 3 | $ 499,000 | ||
Commitments And Contingencies 4 | 1,065,000 | ||
Commitments And Contingencies 5 | 1,389,000 | ||
Commitments And Contingencies 6 | 586,000 | ||
Commitments And Contingencies 7 | $ 4,708,223 | ||
Commitments And Contingencies 8 | d | 30 | 30 | |
Commitments And Contingencies 9 | $ 300,000 | ||
Commitments And Contingencies 10 | 1,608,235 | ||
Commitments And Contingencies 11 | 2,226,283 | ||
Commitments And Contingencies 12 | 225,000 | ||
Commitments And Contingencies 13 | € | € 57,000 | ||
Commitments And Contingencies 14 | $ 2,000,000 |
RELATED PARTY TRANSACTIONS (Nar
RELATED PARTY TRANSACTIONS (Narrative) (Details) - USD ($) | 9 Months Ended | 12 Months Ended |
Dec. 31, 2015 | Mar. 31, 2015 | |
Related Party Transactions 1 | $ 6,610 | |
Related Party Transactions 2 | 0 | |
Related Party Transactions 3 | 0 | |
Related Party Transactions 4 | 47,100 | |
Related Party Transactions 5 | 0 | |
Related Party Transactions 6 | 0 | |
Related Party Transactions 7 | 99,146 | |
Related Party Transactions 8 | 0 | |
Related Party Transactions 9 | 0 | |
Related Party Transactions 10 | 1,040,854 | |
Related Party Transactions 11 | 0 | |
Related Party Transactions 12 | 0 | |
Related Party Transactions 13 | 451,994 | |
Related Party Transactions 14 | 0 | |
Related Party Transactions 15 | $ 0 | |
Related Party Transactions 1 | $ 295,848 | |
Related Party Transactions 2 | 63,524 | |
Related Party Transactions 3 | 38,367 | |
Related Party Transactions 4 | 351,878 | |
Related Party Transactions 5 | 271,944 | |
Related Party Transactions 6 | 388,800 | |
Related Party Transactions 7 | 94,954 | |
Related Party Transactions 8 | $ 48,009 |
SOLE-SOURCE COST-SHARING AGRE41
SOLE-SOURCE COST-SHARING AGREEMENT (Narrative) (Details) | 9 Months Ended |
Dec. 31, 2015USD ($)d | |
Soul Source Cost Sharing Agreement 1 | $ 2,996,244 |
Soul Source Cost Sharing Agreement 2 | 62.00% |
Soul Source Cost Sharing Agreement 3 | $ 1,372,821 |
Soul Source Cost Sharing Agreement 4 | d | 30 |
SUPPLEMENTAL CASH FLOW INFORM42
SUPPLEMENTAL CASH FLOW INFORMATION (Narrative) (Details) | 9 Months Ended | 12 Months Ended |
Dec. 31, 2015USD ($)shares | Mar. 31, 2015USD ($)shares | |
Supplemental Cash Flow Information 1 | shares | 2,564,705 | |
Supplemental Cash Flow Information 2 | $ 1,000,100 | |
Supplemental Cash Flow Information 3 | 176,488 | |
Supplemental Cash Flow Information 4 | $ 162,890 | |
Supplemental Cash Flow Information 1 | shares | 30,000 | |
Supplemental Cash Flow Information 2 | $ 23,959 | |
Supplemental Cash Flow Information 3 | shares | 2,083,333 | |
Supplemental Cash Flow Information 4 | $ 1,525,000 | |
Supplemental Cash Flow Information 5 | $ 2,000,000 | |
Supplemental Cash Flow Information 6 | 1,041,667 | |
Supplemental Cash Flow Information 7 | $ 206,667 | |
Supplemental Cash Flow Information 5 | $ 690,885 | |
Supplemental Cash Flow Information 6 | shares | 2,564,705 | |
Supplemental Cash Flow Information 7 | $ 1,000,100 | |
Supplemental Cash Flow Information 8 | 176,488 | |
Supplemental Cash Flow Information 9 | $ 162,890 |
SUBSEQUENT EVENTS (Narrative) (
SUBSEQUENT EVENTS (Narrative) (Details) - 12 months ended Mar. 31, 2015 | USD ($)$ / sharesshares | CADCAD / sharesshares |
Subsequent Events 1 | CAD 2,208,110 | |
Subsequent Events 2 | $ | $ 1,825,937 | |
Subsequent Events 3 | shares | 849,273 | 849,273 |
Subsequent Events 4 | CAD 2.60 | |
Subsequent Events 5 | $ | $ 2.15 | |
Subsequent Events 6 | CAD / shares | CAD 3.62 | |
Subsequent Events 7 | $ / shares | $ 3 | |
Subsequent Events 8 | CAD 101,494 | |
Subsequent Events 9 | $ | $ 84,074 | |
Subsequent Events 10 | 27,396 | 27,396 |
Subsequent Events 11 | CAD / shares | CAD 3.62 | |
Subsequent Events 12 | $ / shares | $ 3 | |
Subsequent Events 13 | 14,400 | 14,400 |
Subsequent Events 14 | CAD 14,400 |
Fair Value, by Balance Sheet Gr
Fair Value, by Balance Sheet Grouping (Details) - USD ($) | 9 Months Ended | 12 Months Ended |
Dec. 31, 2015 | Mar. 31, 2015 | |
Significant Accounting Policies Fair Value, By Balance Sheet Grouping 1 | $ 0 | |
Significant Accounting Policies Fair Value, By Balance Sheet Grouping 2 | 0 | |
Significant Accounting Policies Fair Value, By Balance Sheet Grouping 3 | $ 767,879 | |
Significant Accounting Policies Fair Value, By Balance Sheet Grouping 4 | 0 | |
Significant Accounting Policies Fair Value, By Balance Sheet Grouping 5 | $ 74,190 | |
Significant Accounting Policies Fair Value, By Balance Sheet Grouping 6 | 0 | |
Significant Accounting Policies Fair Value, By Balance Sheet Grouping 7 | 739,375 | |
Significant Accounting Policies Fair Value, By Balance Sheet Grouping 8 | 0 | |
Significant Accounting Policies Fair Value, By Balance Sheet Grouping 9 | 1,581,444 | |
Significant Accounting Policies Fair Value, By Balance Sheet Grouping 10 | $ 0 | |
Significant Accounting Policies Fair Value, By Balance Sheet Grouping 1 | $ 1,581,444 | |
Significant Accounting Policies Fair Value, By Balance Sheet Grouping 2 | 0 | |
Significant Accounting Policies Fair Value, By Balance Sheet Grouping 3 | $ 0 | |
Significant Accounting Policies Fair Value, By Balance Sheet Grouping 4 | 767,879 | |
Significant Accounting Policies Fair Value, By Balance Sheet Grouping 5 | 690,885 | |
Significant Accounting Policies Fair Value, By Balance Sheet Grouping 6 | 42,227 | |
Significant Accounting Policies Fair Value, By Balance Sheet Grouping 7 | (1,725,520) | |
Significant Accounting Policies Fair Value, By Balance Sheet Grouping 8 | 670,790 | |
Significant Accounting Policies Fair Value, By Balance Sheet Grouping 9 | 546,809 | |
Significant Accounting Policies Fair Value, By Balance Sheet Grouping 10 | $ 1,480,896 |
Schedule of Conversions of Stoc
Schedule of Conversions of Stock (Details) | 9 Months Ended |
Dec. 31, 2015USD ($) | |
Significant Accounting Policies Embedded Conversion Feature 1 | $ 0 |
Significant Accounting Policies Embedded Conversion Feature 2 | 0 |
Significant Accounting Policies Embedded Conversion Feature 3 | 425,208 |
Significant Accounting Policies Embedded Conversion Feature 4 | 0 |
Significant Accounting Policies Embedded Conversion Feature 5 | (425,208) |
Significant Accounting Policies Embedded Conversion Feature 6 | 0 |
Significant Accounting Policies Embedded Conversion Feature 7 | 0 |
Significant Accounting Policies Embedded Conversion Feature 8 | $ 0 |
Schedule of Fair Value of Warra
Schedule of Fair Value of Warrants (Details) | 9 Months Ended |
Dec. 31, 2015USD ($) | |
Significant Accounting Policies Schedule Of Fair Value Of Warrants 1 | $ 0 |
Significant Accounting Policies Schedule Of Fair Value Of Warrants 2 | 0 |
Significant Accounting Policies Schedule Of Fair Value Of Warrants 3 | 739,190 |
Significant Accounting Policies Schedule Of Fair Value Of Warrants 4 | 0 |
Significant Accounting Policies Schedule Of Fair Value Of Warrants 5 | (387,871) |
Significant Accounting Policies Schedule Of Fair Value Of Warrants 6 | 0 |
Significant Accounting Policies Schedule Of Fair Value Of Warrants 7 | 351,319 |
Significant Accounting Policies Schedule Of Fair Value Of Warrants 8 | 0 |
Significant Accounting Policies Schedule Of Fair Value Of Warrants 9 | 898,128 |
Significant Accounting Policies Schedule Of Fair Value Of Warrants 10 | $ 1,480,896 |
Schedule of Earnings Per Share,
Schedule of Earnings Per Share, Basic and Diluted (Details) | 9 Months Ended |
Dec. 31, 2015USD ($) | |
Significant Accounting Policies Schedule Of Earnings Per Share, Basic And Diluted 1 | $ (2,432,435) |
Significant Accounting Policies Schedule Of Earnings Per Share, Basic And Diluted 2 | (2,478,561) |
Significant Accounting Policies Schedule Of Earnings Per Share, Basic And Diluted 3 | (3,051,492) |
Significant Accounting Policies Schedule Of Earnings Per Share, Basic And Diluted 4 | (7,798,641) |
Significant Accounting Policies Schedule Of Earnings Per Share, Basic And Diluted 5 | 64,958,069 |
Significant Accounting Policies Schedule Of Earnings Per Share, Basic And Diluted 6 | 63,104,788 |
Significant Accounting Policies Schedule Of Earnings Per Share, Basic And Diluted 7 | 64,646,096 |
Significant Accounting Policies Schedule Of Earnings Per Share, Basic And Diluted 8 | $ 55,066,317 |
Significant Accounting Policies Schedule Of Earnings Per Share, Basic And Diluted 9 | (0.04) |
Significant Accounting Policies Schedule Of Earnings Per Share, Basic And Diluted 10 | (0.04) |
Significant Accounting Policies Schedule Of Earnings Per Share, Basic And Diluted 11 | (0.05) |
Significant Accounting Policies Schedule Of Earnings Per Share, Basic And Diluted 12 | (0.14) |
Significant Accounting Policies Schedule Of Earnings Per Share, Basic And Diluted 13 | $ (2,432,435) |
Significant Accounting Policies Schedule Of Earnings Per Share, Basic And Diluted 14 | (2,478,561) |
Significant Accounting Policies Schedule Of Earnings Per Share, Basic And Diluted 15 | (3,051,492) |
Significant Accounting Policies Schedule Of Earnings Per Share, Basic And Diluted 16 | (7,798,641) |
Significant Accounting Policies Schedule Of Earnings Per Share, Basic And Diluted 17 | 0 |
Significant Accounting Policies Schedule Of Earnings Per Share, Basic And Diluted 18 | 0 |
Significant Accounting Policies Schedule Of Earnings Per Share, Basic And Diluted 19 | (1,094,449) |
Significant Accounting Policies Schedule Of Earnings Per Share, Basic And Diluted 20 | 0 |
Significant Accounting Policies Schedule Of Earnings Per Share, Basic And Diluted 21 | (2,432,435) |
Significant Accounting Policies Schedule Of Earnings Per Share, Basic And Diluted 22 | (2,478,561) |
Significant Accounting Policies Schedule Of Earnings Per Share, Basic And Diluted 23 | (4,145,941) |
Significant Accounting Policies Schedule Of Earnings Per Share, Basic And Diluted 24 | (7,798,641) |
Significant Accounting Policies Schedule Of Earnings Per Share, Basic And Diluted 25 | 64,958,069 |
Significant Accounting Policies Schedule Of Earnings Per Share, Basic And Diluted 26 | 63,104,788 |
Significant Accounting Policies Schedule Of Earnings Per Share, Basic And Diluted 27 | 64,646,096 |
Significant Accounting Policies Schedule Of Earnings Per Share, Basic And Diluted 28 | 55,066,317 |
Significant Accounting Policies Schedule Of Earnings Per Share, Basic And Diluted 29 | 0 |
Significant Accounting Policies Schedule Of Earnings Per Share, Basic And Diluted 30 | 0 |
Significant Accounting Policies Schedule Of Earnings Per Share, Basic And Diluted 31 | 534,822 |
Significant Accounting Policies Schedule Of Earnings Per Share, Basic And Diluted 32 | 0 |
Significant Accounting Policies Schedule Of Earnings Per Share, Basic And Diluted 33 | 0 |
Significant Accounting Policies Schedule Of Earnings Per Share, Basic And Diluted 34 | 0 |
Significant Accounting Policies Schedule Of Earnings Per Share, Basic And Diluted 35 | 0 |
Significant Accounting Policies Schedule Of Earnings Per Share, Basic And Diluted 36 | 0 |
Significant Accounting Policies Schedule Of Earnings Per Share, Basic And Diluted 37 | 64,958,069 |
Significant Accounting Policies Schedule Of Earnings Per Share, Basic And Diluted 38 | 63,104,788 |
Significant Accounting Policies Schedule Of Earnings Per Share, Basic And Diluted 39 | 65,180,918 |
Significant Accounting Policies Schedule Of Earnings Per Share, Basic And Diluted 40 | $ 55,066,317 |
Significant Accounting Policies Schedule Of Earnings Per Share, Basic And Diluted 41 | (0.04) |
Significant Accounting Policies Schedule Of Earnings Per Share, Basic And Diluted 42 | (0.04) |
Significant Accounting Policies Schedule Of Earnings Per Share, Basic And Diluted 43 | (0.06) |
Significant Accounting Policies Schedule Of Earnings Per Share, Basic And Diluted 44 | (0.14) |
Schedule of Share-based Compens
Schedule of Share-based Compensation, Stock Options, Activity (Details) | 9 Months Ended | 12 Months Ended |
Dec. 31, 2015USD ($) | Mar. 31, 2015USD ($) | |
Share Based Payments Schedule Of Share-based Compensation, Stock Options, Activity 1 | $ 0 | |
Share Based Payments Schedule Of Share-based Compensation, Stock Options, Activity 2 | 0 | |
Share Based Payments Schedule Of Share-based Compensation, Stock Options, Activity 3 | $ 3,230,031 | |
Share Based Payments Schedule Of Share-based Compensation, Stock Options, Activity 4 | 0.0003 | |
Share Based Payments Schedule Of Share-based Compensation, Stock Options, Activity 5 | $ 0 | |
Share Based Payments Schedule Of Share-based Compensation, Stock Options, Activity 6 | $ 3,230,031 | |
Share Based Payments Schedule Of Share-based Compensation, Stock Options, Activity 7 | 0.0003 | |
Share Based Payments Schedule Of Share-based Compensation, Stock Options, Activity 8 | $ 0 | |
Share Based Payments Schedule Of Share-based Compensation, Stock Options, Activity 9 | $ 4,920,000 | |
Share Based Payments Schedule Of Share-based Compensation, Stock Options, Activity 10 | 1.14 | |
Share Based Payments Schedule Of Share-based Compensation, Stock Options, Activity 11 | $ 0 | |
Share Based Payments Schedule Of Share-based Compensation, Stock Options, Activity 12 | $ (3,230,031) | |
Share Based Payments Schedule Of Share-based Compensation, Stock Options, Activity 13 | 0.0003 | |
Share Based Payments Schedule Of Share-based Compensation, Stock Options, Activity 14 | $ 0 | |
Share Based Payments Schedule Of Share-based Compensation, Stock Options, Activity 15 | $ 4,920,000 | |
Share Based Payments Schedule Of Share-based Compensation, Stock Options, Activity 16 | 1.14 | |
Share Based Payments Schedule Of Share-based Compensation, Stock Options, Activity 17 | $ 10,120,000 | |
Share Based Payments Schedule Of Share-based Compensation, Stock Options, Activity 18 | $ 2,015,001 | |
Share Based Payments Schedule Of Share-based Compensation, Stock Options, Activity 19 | 1.41 | |
Share Based Payments Schedule Of Share-based Compensation, Stock Options, Activity 20 | $ 7,757,667 | |
Blah 1 1 | $ 4,920,000 | |
Blah 1 2 | 1.14 | |
Blah 1 3 | $ 10,120,000 | |
Blah 1 4 | $ (94,640) | |
Blah 1 5 | 0.60 | |
Blah 1 6 | $ 0 | |
Blah 1 7 | $ 1,850,000 | |
Blah 1 8 | 0.88 | |
Blah 1 9 | $ 0 | |
Blah 1 10 | $ 6,675,360 | |
Blah 1 11 | 1.08 | |
Blah 1 12 | $ 2,588,702 | |
Blah 1 13 | $ 4,272,279 | |
Blah 1 14 | 1.16 | |
Blah 1 15 | $ 1,637,490 |
Disclosure of Share-based Compe
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award (Details) | 9 Months Ended | 12 Months Ended |
Dec. 31, 2015USD ($) | Mar. 31, 2015USD ($) | |
Share Based Payments Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 1 | $ 3,520,000 | |
Share Based Payments Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 2 | 4.22 | |
Share Based Payments Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 3 | 0.60 | |
Share Based Payments Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 4 | 0.23 | |
Share Based Payments Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 5 | $ 1,173,333 | |
Share Based Payments Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 6 | $ 250,000 | |
Share Based Payments Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 7 | 4.22 | |
Share Based Payments Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 8 | 0.60 | |
Share Based Payments Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 9 | 0.23 | |
Share Based Payments Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 10 | $ 125,000 | |
Share Based Payments Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 11 | $ 100,000 | |
Share Based Payments Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 12 | 2.29 | |
Share Based Payments Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 13 | 2.52 | |
Share Based Payments Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 14 | 1.06 | |
Share Based Payments Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 15 | $ 100,000 | |
Share Based Payments Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 16 | $ 450,000 | |
Share Based Payments Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 17 | 4.69 | |
Share Based Payments Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 18 | 2.92 | |
Share Based Payments Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 19 | 1.65 | |
Share Based Payments Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 20 | $ 450,000 | |
Share Based Payments Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 21 | $ 100,000 | |
Share Based Payments Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 22 | 4.69 | |
Share Based Payments Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 23 | 2.92 | |
Share Based Payments Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 24 | 1.49 | |
Share Based Payments Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 25 | $ 33,334 | |
Share Based Payments Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 26 | $ 400,000 | |
Share Based Payments Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 27 | 4.69 | |
Share Based Payments Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 28 | 2.96 | |
Share Based Payments Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 29 | 1.56 | |
Share Based Payments Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 30 | $ 100,000 | |
Share Based Payments Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 31 | $ 100,000 | |
Share Based Payments Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 32 | 4.96 | |
Share Based Payments Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 33 | 3.20 | |
Share Based Payments Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 34 | 1.61 | |
Share Based Payments Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 35 | $ 33,334 | |
Share Based Payments Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 36 | 4,920,000 | |
Share Based Payments Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 37 | $ 2,015,001 | |
Blah 2 1 | $ 3,520,000 | |
Blah 2 2 | 3.46 | |
Blah 2 3 | 0.60 | |
Blah 2 4 | 0.23 | |
Blah 2 5 | $ 2,346,667 | |
Blah 2 6 | $ 155,360 | |
Blah 2 7 | 3.46 | |
Blah 2 8 | 0.60 | |
Blah 2 9 | 0.23 | |
Blah 2 10 | $ 124,110 | |
Blah 2 11 | $ 100,000 | |
Blah 2 12 | 1.54 | |
Blah 2 13 | 2.52 | |
Blah 2 14 | 1.06 | |
Blah 2 15 | $ 100,000 | |
Blah 2 16 | $ 450,000 | |
Blah 2 17 | 3.94 | |
Blah 2 18 | 2.92 | |
Blah 2 19 | 1.65 | |
Blah 2 20 | $ 450,000 | |
Blah 2 21 | $ 100,000 | |
Blah 2 22 | 3.94 | |
Blah 2 23 | 2.92 | |
Blah 2 24 | 1.49 | |
Blah 2 25 | $ 66,667 | |
Blah 2 26 | $ 400,000 | |
Blah 2 27 | 3.94 | |
Blah 2 28 | 2.96 | |
Blah 2 29 | 1.56 | |
Blah 2 30 | $ 300,000 | |
Blah 2 31 | $ 100,000 | |
Blah 2 32 | 4.21 | |
Blah 2 33 | 3.20 | |
Blah 2 34 | 1.61 | |
Blah 2 35 | $ 33,334 | |
Blah 2 36 | $ 50,000 | |
Blah 2 37 | 4.62 | |
Blah 2 38 | 0.98 | |
Blah 2 39 | 0.39 | |
Blah 2 40 | $ 16,667 | |
Blah 2 41 | $ 750,000 | |
Blah 2 42 | 4.81 | |
Blah 2 43 | 0.87 | |
Blah 2 44 | 0.33 | |
Blah 2 45 | $ 187,500 | |
Blah 2 46 | $ 550,000 | |
Blah 2 47 | 4.83 | |
Blah 2 48 | 0.84 | |
Blah 2 49 | 0.44 | |
Blah 2 50 | $ 550,000 | |
Blah 2 51 | $ 400,000 | |
Blah 2 52 | 4.83 | |
Blah 2 53 | 0.84 | |
Blah 2 54 | 0.36 | |
Blah 2 55 | $ 64,000 | |
Blah 2 56 | $ 100,000 | |
Blah 2 57 | 5 | |
Blah 2 58 | 1.24 | |
Blah 2 59 | 0.50 | |
Blah 2 60 | $ 33,334 | |
Blah 2 61 | 6,675,360 | |
Blah 2 62 | $ 4,272,279 |
Schedule of Share-based Payment
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details) | 9 Months Ended | 12 Months Ended |
Dec. 31, 2015USD ($)yr | Mar. 31, 2015 | |
Share Based Payments Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 1 | 0.50 | |
Share Based Payments Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 2 | 3.18 | |
Share Based Payments Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 3 | 0.27 | |
Share Based Payments Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 4 | 0.60 | |
Share Based Payments Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 5 | 3.20 | |
Share Based Payments Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 6 | 0.0003 | |
Share Based Payments Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 7 | 0.53 | |
Share Based Payments Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 8 | 1.42 | |
Share Based Payments Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 9 | 1.20 | |
Share Based Payments Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 10 | 1.65 | |
Share Based Payments Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 11 | 0 | |
Share Based Payments Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 12 | 0 | |
Share Based Payments Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 13 | 67.85 | |
Share Based Payments Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 14 | 97.73 | |
Share Based Payments Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 15 | 116.82 | |
Share Based Payments Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 16 | 3 | |
Share Based Payments Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 17 | 5 | |
Share Based Payments Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 18 | 4.33 | |
Share Based Payments Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 19 | 5 | |
Blah 3 1 | $ 0.822 | |
Blah 3 2 | 1.33 | |
Blah 3 3 | 0.878 | |
Blah 3 4 | $ 1.10 | |
Blah 3 5 | yr | 3.6 | |
Blah 3 6 | yr | 3.9 | |
Blah 3 7 | 67.85% | |
Blah 3 8 | 67.85% | |
Blah 3 9 | 0.84% | |
Blah 3 10 | 1.32% | |
Blah 3 11 | 0.00% | |
Blah 3 12 | 0.00% |
Schedule of Non-Employee Share-
Schedule of Non-Employee Share-based Compensation Arrangements Fair Values (Details) | 9 Months Ended |
Dec. 31, 2015USD ($) | |
Blah 4 1 | $ 1,581,444 |
Blah 4 2 | 0 |
Blah 4 3 | 0 |
Blah 4 4 | 767,879 |
Blah 4 5 | 690,885 |
Blah 4 6 | 42,227 |
Blah 4 7 | (725,520) |
Blah 4 8 | 739,375 |
Blah 4 9 | 1,546,809 |
Blah 4 10 | $ 1,549,481 |
Share-Based Payments Classified
Share-Based Payments Classified in the Companys Statement of Loss (Details) - USD ($) | 9 Months Ended | 12 Months Ended |
Dec. 31, 2015 | Mar. 31, 2015 | |
Share Based Payments Share-based Payments Classified In The Companys Statement Of Loss 1 | $ 1,167,281 | |
Share Based Payments Share-based Payments Classified In The Companys Statement Of Loss 2 | 807,157 | |
Share Based Payments Share-based Payments Classified In The Companys Statement Of Loss 3 | 4,250,000 | |
Share Based Payments Share-based Payments Classified In The Companys Statement Of Loss 4 | 721,601 | |
Share Based Payments Share-based Payments Classified In The Companys Statement Of Loss 5 | 0 | |
Share Based Payments Share-based Payments Classified In The Companys Statement Of Loss 6 | 4,250,000 | |
Share Based Payments Share-based Payments Classified In The Companys Statement Of Loss 7 | 451,994 | |
Share Based Payments Share-based Payments Classified In The Companys Statement Of Loss 8 | 0 | |
Share Based Payments Share-based Payments Classified In The Companys Statement Of Loss 9 | 2,340,876 | |
Share Based Payments Share-based Payments Classified In The Companys Statement Of Loss 10 | 807,157 | |
Share Based Payments Share-based Payments Classified In The Companys Statement Of Loss 11 | $ 8,500,000 | |
Blah 5 1 | $ (36,300) | |
Blah 5 2 | (45,199) | |
Blah 5 3 | 871,269 | |
Blah 5 4 | 1,033,200 | |
Blah 5 5 | 315,031 | |
Blah 5 6 | 57,550 | |
Blah 5 7 | 239,463 | |
Blah 5 8 | 578,120 | |
Blah 5 9 | 52,737 | |
Blah 5 10 | 419,635 | |
Blah 5 11 | (77,784) | |
Blah 5 12 | 359,025 | |
Blah 5 13 | 331,468 | |
Blah 5 14 | 431,986 | |
Blah 5 15 | 1,032,948 | |
Blah 5 16 | $ 1,970,345 |
Schedule of Warrants, Fair Valu
Schedule of Warrants, Fair Values (Details) | 9 Months Ended |
Dec. 31, 2015USD ($) | |
Blah 10 1 | $ 0 |
Blah 10 2 | 0 |
Blah 10 3 | 739,190 |
Blah 10 4 | 0 |
Blah 10 5 | (387,871) |
Blah 10 6 | 0 |
Blah 10 7 | 351,319 |
Blah 10 8 | $ 0 |
Schedule of Share-based Payme54
Schedule of Share-based Payment Award, Warrants, Valuation Assumptions (Details) | 9 Months Ended | 12 Months Ended | |
Dec. 31, 2015USD ($)yr | Mar. 31, 2015USD ($) | Mar. 31, 2015CAD | |
Share Based Payments Schedule Of Share-based Payment Award, Warrants, Valuation Assumptions 1 | CAD | CAD 0.50 | ||
Share Based Payments Schedule Of Share-based Payment Award, Warrants, Valuation Assumptions 2 | CAD | CAD 1 | ||
Share Based Payments Schedule Of Share-based Payment Award, Warrants, Valuation Assumptions 3 | 1.09 | 1.09 | |
Share Based Payments Schedule Of Share-based Payment Award, Warrants, Valuation Assumptions 4 | $ 0 | ||
Share Based Payments Schedule Of Share-based Payment Award, Warrants, Valuation Assumptions 5 | 67.85 | 67.85 | |
Share Based Payments Schedule Of Share-based Payment Award, Warrants, Valuation Assumptions 6 | 1.17 | 1.17 | |
Blah 11 1 | $ 0.73 | ||
Blah 11 2 | 0 | ||
Blah 11 3 | 1.44 | ||
Blah 11 4 | $ 0 | ||
Blah 11 5 | yr | 3 | ||
Blah 11 6 | $ 0 | ||
Blah 11 7 | 67.85% | ||
Blah 11 8 | $ 0 | ||
Blah 11 9 | 0.96% | ||
Blah 11 10 | $ 0 | ||
Blah 11 11 | 0.00% | ||
Blah 11 12 | $ 0 |
Schedule of Stockholder's Equit
Schedule of Stockholder's Equity Note Warrants Or Rights Activity (Details) | 9 Months Ended | 12 Months Ended | |
Dec. 31, 2015USD ($) | Mar. 31, 2015USD ($) | Mar. 31, 2015CAD | |
Share Based Payments Schedule Of Stockholder's Equity Note Warrants Or Rights Activity 1 | $ 0 | ||
Share Based Payments Schedule Of Stockholder's Equity Note Warrants Or Rights Activity 2 | 0 | ||
Share Based Payments Schedule Of Stockholder's Equity Note Warrants Or Rights Activity 3 | 8,444,400 | ||
Share Based Payments Schedule Of Stockholder's Equity Note Warrants Or Rights Activity 4 | CAD | CAD 1 | ||
Share Based Payments Schedule Of Stockholder's Equity Note Warrants Or Rights Activity 5 | $ 8,444,400 | ||
Share Based Payments Schedule Of Stockholder's Equity Note Warrants Or Rights Activity 6 | CAD | CAD 1 | ||
Blah 6 1 | $ 8,444,400 | ||
Blah 6 2 | 0 | ||
Blah 6 3 | 1 | ||
Blah 6 4 | 0 | ||
Blah 6 5 | 1,750,831 | ||
Blah 6 6 | $ 0 | ||
Blah 6 7 | 2.06 | ||
Blah 6 8 | $ (14,400) | ||
Blah 6 9 | 0 | ||
Blah 6 10 | 1 | ||
Blah 6 11 | 0 | ||
Blah 6 12 | 8,430,000 | ||
Blah 6 13 | 1,750,831 | ||
Blah 6 14 | $ 1 | ||
Blah 6 15 | 2.06 |
Schedule of Stockholders' Equit
Schedule of Stockholders' Equity Note, Warrants or Rights (Details) | 9 Months Ended | 12 Months Ended | |
Dec. 31, 2015USD ($) | Dec. 31, 2015CAD | Mar. 31, 2015USD ($) | |
Share Based Payments Schedule Of Stockholders' Equity Note, Warrants Or Rights 1 | $ 7,620,000 | ||
Share Based Payments Schedule Of Stockholders' Equity Note, Warrants Or Rights 2 | 1 | ||
Share Based Payments Schedule Of Stockholders' Equity Note, Warrants Or Rights 3 | 0.0899 | ||
Share Based Payments Schedule Of Stockholders' Equity Note, Warrants Or Rights 4 | 824,400 | ||
Share Based Payments Schedule Of Stockholders' Equity Note, Warrants Or Rights 5 | 1 | ||
Share Based Payments Schedule Of Stockholders' Equity Note, Warrants Or Rights 6 | $ 0.0899 | ||
Blah 9 1 | $ 8,430,000 | ||
Blah 9 2 | CAD | CAD 1 | ||
Blah 9 3 | 452,032 | ||
Blah 9 4 | 3 | ||
Blah 9 5 | 167,731 | ||
Blah 9 6 | 3 | ||
Blah 9 7 | 18,978 | ||
Blah 9 8 | 2.15 | ||
Blah 9 9 | 62,878 | ||
Blah 9 10 | 3 | ||
Blah 9 11 | 7,545 | ||
Blah 9 12 | 2.15 | ||
Blah 9 13 | 1,041,667 | ||
Blah 9 14 | $ 1.44 |
Stock-Based Compensation Relate
Stock-Based Compensation Related to the Grant of Each of Employee and Non-Employee Options (Details) | 12 Months Ended |
Mar. 31, 2015USD ($) | |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 1 | $ 930,031 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 2 | 0 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 3 | 247,075 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 4 | 0 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 5 | 2,300,000 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 6 | 50,303 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 7 | 560,082 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 8 | 0 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 9 | 1,970,000 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 10 | 165,996 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 11 | 0 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 12 | 0 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 13 | 75,000 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 14 | 74,190 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 15 | 0 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 16 | 0 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 17 | 100,000 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 18 | 43,229 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 19 | 0 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 20 | 0 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 21 | 400,000 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 22 | 135,564 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 23 | 0 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 24 | 0 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 25 | 100,000 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 26 | 41,987 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 27 | 0 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 28 | 0 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 29 | 5,875,031 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 30 | 511,269 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 31 | 807,157 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 32 | 0 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 33 | (3,230,031) |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 34 | 0 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 35 | 0 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 36 | 0 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 37 | 2,645,000 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 38 | 511,269 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 39 | 1,800,000 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 40 | 1,158,822 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 41 | 0 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 42 | 0 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 43 | 25,000 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 44 | 24,730 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 45 | 0 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 46 | 0 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 47 | 450,000 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 48 | 646,055 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 49 | 0 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 50 | 0 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 51 | 2,275,000 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 52 | 1,824,607 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 53 | 0 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 54 | 0 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 55 | 4,920,000 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 56 | 2,340,876 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 57 | 807,157 |
Share Based Payments Stock-based Compensation Related To The Grant Of Each Of Employee And Non-employee Options 58 | $ 0 |
Schedule of Income before Incom
Schedule of Income before Income Tax, Domestic and Foreign (Details) | 12 Months Ended |
Mar. 31, 2015USD ($) | |
Income Taxes Schedule Of Income Before Income Tax, Domestic And Foreign 1 | $ 9,301,988 |
Income Taxes Schedule Of Income Before Income Tax, Domestic And Foreign 2 | 1,067,284 |
Income Taxes Schedule Of Income Before Income Tax, Domestic And Foreign 3 | 8,517,850 |
Income Taxes Schedule Of Income Before Income Tax, Domestic And Foreign 4 | 536,329 |
Income Taxes Schedule Of Income Before Income Tax, Domestic And Foreign 5 | 0 |
Income Taxes Schedule Of Income Before Income Tax, Domestic And Foreign 6 | 0 |
Income Taxes Schedule Of Income Before Income Tax, Domestic And Foreign 7 | 9,838,317 |
Income Taxes Schedule Of Income Before Income Tax, Domestic And Foreign 8 | $ 1,067,284 |
Income Taxes Schedule Of Income Before Income Tax, Domestic And Foreign 9 | 8.517 |
Schedule of Effective Income Ta
Schedule of Effective Income Tax Rate Reconciliation (Details) | 12 Months Ended |
Mar. 31, 2015USD ($) | |
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 1 | 34.00% |
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 2 | 25.00% |
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 3 | 25.00% |
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 4 | $ (9,838,317) |
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 5 | (1,067,284) |
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 6 | (8,517,850) |
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 7 | (3,345,000) |
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 8 | (270,000) |
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 9 | (2,151,000) |
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 10 | 251,000 |
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 11 | 0 |
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 12 | 796,000 |
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 13 | 275,000 |
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 14 | 2,890,000 |
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 15 | 12,000 |
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 16 | 0 |
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 17 | 0 |
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 18 | (140,000) |
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 19 | 0 |
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 20 | (41,000) |
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 21 | (93,000) |
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 22 | (745,000) |
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 23 | 89,000 |
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 24 | 0 |
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 25 | 14,000 |
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 26 | 0 |
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 27 | 2,364,000 |
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 28 | 88,000 |
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 29 | 6,000 |
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 30 | 0 |
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 31 | 0 |
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 32 | $ 0 |
Schedule of Deferred Tax Assets
Schedule of Deferred Tax Assets and Liabilities (Details) | 12 Months Ended |
Mar. 31, 2015USD ($) | |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 1 | $ 2,074,000 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 2 | 94,000 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 3 | 6,000 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 4 | 285,000 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 5 | 99,000 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 6 | 0 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 7 | (2,458,000) |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 8 | (94,000) |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 9 | (6,000) |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 10 | 0 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 11 | 0 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 12 | $ 0 |
Bifurcation of Embedded Convers
Bifurcation of Embedded Conversion Feature (Details) | 9 Months Ended |
Dec. 31, 2015USD ($) | |
Convertible Note Bifurcation Of Embedded 1 | $ 0 |
Convertible Note Bifurcation Of Embedded 2 | 0 |
Convertible Note Bifurcation Of Embedded 3 | 425,208 |
Convertible Note Bifurcation Of Embedded 4 | 0 |
Convertible Note Bifurcation Of Embedded 5 | (425,208) |
Convertible Note Bifurcation Of Embedded 6 | 0 |
Convertible Note Bifurcation Of Embedded 7 | 0 |
Convertible Note Bifurcation Of Embedded 8 | $ 0 |
Schedule of Error Corrections a
Schedule of Error Corrections and Prior Period Adjustments in Statement of Operations (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended |
Dec. 31, 2014 | Dec. 31, 2014 | Mar. 31, 2015 | |
Recapitalization Net Assets Of Helius Acquired 1 | $ 23,904 | ||
Recapitalization Net Assets Of Helius Acquired 2 | 1,644 | ||
Recapitalization Net Assets Of Helius Acquired 3 | 150,000 | ||
Recapitalization Net Assets Of Helius Acquired 4 | 5,970 | ||
Recapitalization Net Assets Of Helius Acquired 5 | (18,628) | ||
Recapitalization Net Assets Of Helius Acquired 6 | $ 162,890 | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 1 | $ 1,694,685 | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 2 | 793,495 | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 3 | 901,190 | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 4 | 952,343 | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 5 | 239,463 | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 6 | 1,191,806 | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 7 | 603,492 | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 8 | 471,373 | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 9 | 132,119 | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 10 | 4,117,423 | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 11 | 1,025,405 | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 12 | 3,092,018 | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 13 | 2,845 | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 14 | 6,570 | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 15 | 9,415 | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 16 | 55,589 | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 17 | 20,947 | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 18 | 76,536 | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 19 | 687,148 | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 20 | 6,570 | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 21 | 680,578 | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 22 | (3,483,019) | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 23 | 1,004,458 | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 24 | (2,478,561) | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 25 | (4,190,894) | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 26 | 1,004,458 | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 27 | (3,186,436) | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 28 | (0.06) | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 29 | 0.02 | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 30 | $ (0.04) | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 1 | $ 2,336,051 | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 2 | 1,168,508 | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 3 | 1,167,543 | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 4 | 2,668,529 | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 5 | 527,817 | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 6 | 3,196,346 | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 7 | 1,253,494 | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 8 | 569,119 | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 9 | 684,375 | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 10 | 8,449,159 | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 11 | 1,209,810 | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 12 | 7,239,349 | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 13 | 818,382 | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 14 | 147,592 | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 15 | 670,790 | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 16 | (9,156,043) | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 17 | 1,357,402 | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 18 | (7,798,641) | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 19 | (9,551,073) | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 20 | 1,357,402 | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 21 | (8,193,671) | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 22 | (0.17) | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 23 | 0.03 | ||
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Operations 24 | $ (0.14) |
Schedule of Error Corrections63
Schedule of Error Corrections and Prior Period Adjustments (Details) | 12 Months Ended |
Mar. 31, 2015USD ($) | |
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments 1 | $ 3,828,775 |
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments 2 | 671,298 |
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments 3 | 4,500,073 |
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments 4 | 8,894,555 |
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments 5 | 943,762 |
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments 6 | 9,838,317 |
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments 7 | 9,866,195 |
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments 8 | 943,762 |
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments 9 | $ 10,809,957 |
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments 10 | (0.16) |
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments 11 | (0.01) |
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments 12 | (0.17) |
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments 13 | $ 1,490,790 |
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments 14 | 943,762 |
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments 15 | 2,434,552 |
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments 16 | (18,479,689) |
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments 17 | (943,762) |
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments 18 | (19,423,451) |
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments 19 | 1,085,606 |
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments 20 | 272,464 |
Correction Of An Error In Previously Issued Financial Statements Schedule Of Error Corrections And Prior Period Adjustments 21 | $ 1,358,070 |
Schedule of Error Corrections64
Schedule of Error Corrections and Prior Period Adjustments in Condensed Consolidated Financial Statements[Table Text Block] (Details) - USD ($) | 3 Months Ended | 9 Months Ended |
Dec. 31, 2015 | Dec. 31, 2015 | |
Restatement Of Previously Issued And Restated Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Condensed Consolidated Financial Statement 1 | $ (261,802) | |
Restatement Of Previously Issued And Restated Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Condensed Consolidated Financial Statement 2 | (31,896) | |
Restatement Of Previously Issued And Restated Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Condensed Consolidated Financial Statement 3 | (293,698) | |
Restatement Of Previously Issued And Restated Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Condensed Consolidated Financial Statement 4 | 2,400,539 | |
Restatement Of Previously Issued And Restated Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Condensed Consolidated Financial Statement 5 | (31,896) | |
Restatement Of Previously Issued And Restated Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Condensed Consolidated Financial Statement 6 | (2,432,435) | |
Restatement Of Previously Issued And Restated Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Condensed Consolidated Financial Statement 7 | (2,764,335) | |
Restatement Of Previously Issued And Restated Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Condensed Consolidated Financial Statement 8 | (31,896) | |
Restatement Of Previously Issued And Restated Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Condensed Consolidated Financial Statement 9 | (2,796,231) | |
Restatement Of Previously Issued And Restated Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Condensed Consolidated Financial Statement 10 | 0.04 | |
Restatement Of Previously Issued And Restated Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Condensed Consolidated Financial Statement 11 | 0 | |
Restatement Of Previously Issued And Restated Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Condensed Consolidated Financial Statement 12 | 0.04 | |
Restatement Of Previously Issued And Restated Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Condensed Consolidated Financial Statement 13 | 0.04 | |
Restatement Of Previously Issued And Restated Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Condensed Consolidated Financial Statement 14 | 0 | |
Restatement Of Previously Issued And Restated Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Condensed Consolidated Financial Statement 15 | $ 0.04 | |
Restatement Of Previously Issued And Restated Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Condensed Consolidated Financial Statement 1 | $ 1,627,844 | |
Restatement Of Previously Issued And Restated Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Condensed Consolidated Financial Statement 2 | 485,547 | |
Restatement Of Previously Issued And Restated Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Condensed Consolidated Financial Statement 3 | 2,113,391 | |
Restatement Of Previously Issued And Restated Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Condensed Consolidated Financial Statement 4 | 3,537,039 | |
Restatement Of Previously Issued And Restated Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Condensed Consolidated Financial Statement 5 | 485,547 | |
Restatement Of Previously Issued And Restated Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Condensed Consolidated Financial Statement 6 | (3,051,492) | |
Restatement Of Previously Issued And Restated Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Condensed Consolidated Financial Statement 7 | (4,427,728) | |
Restatement Of Previously Issued And Restated Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Condensed Consolidated Financial Statement 8 | 485,547 | |
Restatement Of Previously Issued And Restated Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Condensed Consolidated Financial Statement 9 | (3,942,181) | |
Restatement Of Previously Issued And Restated Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Condensed Consolidated Financial Statement 10 | 0.05 | |
Restatement Of Previously Issued And Restated Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Condensed Consolidated Financial Statement 11 | 0 | |
Restatement Of Previously Issued And Restated Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Condensed Consolidated Financial Statement 12 | 0.05 | |
Restatement Of Previously Issued And Restated Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Condensed Consolidated Financial Statement 13 | 0.07 | |
Restatement Of Previously Issued And Restated Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Condensed Consolidated Financial Statement 14 | 0.01 | |
Restatement Of Previously Issued And Restated Financial Statements Schedule Of Error Corrections And Prior Period Adjustments In Condensed Consolidated Financial Statement 15 | $ 0.06 |
Schedule Of Error Corrections65
Schedule Of Error Corrections And Prior Period Adjustments Text Block (Details) | 9 Months Ended |
Dec. 31, 2015USD ($) | |
Restatement Of Previously Issued And Restated Financial Statements Schedule Of Error Corrections And Prior Period Adjustments Text Block 1 | $ 830,378 |
Restatement Of Previously Issued And Restated Financial Statements Schedule Of Error Corrections And Prior Period Adjustments Text Block 2 | 67,750 |
Restatement Of Previously Issued And Restated Financial Statements Schedule Of Error Corrections And Prior Period Adjustments Text Block 3 | 898,128 |
Restatement Of Previously Issued And Restated Financial Statements Schedule Of Error Corrections And Prior Period Adjustments Text Block 4 | 20,658,387 |
Restatement Of Previously Issued And Restated Financial Statements Schedule Of Error Corrections And Prior Period Adjustments Text Block 5 | (532,523) |
Restatement Of Previously Issued And Restated Financial Statements Schedule Of Error Corrections And Prior Period Adjustments Text Block 6 | 20,125,864 |
Restatement Of Previously Issued And Restated Financial Statements Schedule Of Error Corrections And Prior Period Adjustments Text Block 7 | 2,175,973 |
Restatement Of Previously Issued And Restated Financial Statements Schedule Of Error Corrections And Prior Period Adjustments Text Block 8 | (20,774) |
Restatement Of Previously Issued And Restated Financial Statements Schedule Of Error Corrections And Prior Period Adjustments Text Block 9 | 2,155,199 |
Restatement Of Previously Issued And Restated Financial Statements Schedule Of Error Corrections And Prior Period Adjustments Text Block 10 | (22,960,490) |
Restatement Of Previously Issued And Restated Financial Statements Schedule Of Error Corrections And Prior Period Adjustments Text Block 11 | 485,547 |
Restatement Of Previously Issued And Restated Financial Statements Schedule Of Error Corrections And Prior Period Adjustments Text Block 12 | $ (22,474,943) |