Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2020 | Nov. 11, 2020 | |
Document Information [Line Items] | ||
Entity Registrant Name | Zomedica Corp. | |
Entity Central Index Key | 0001684144 | |
Trading Symbol | zom | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | true | |
Entity Small Business | true | |
Entity Interactive Data Current | Yes | |
Entity Common Stock, Shares Outstanding (in shares) | 564,051,438 | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2020 | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Title of 12(b) Security | Common Shares, without par value |
Condensed Unaudited Interim Con
Condensed Unaudited Interim Consolidated Balance Sheets - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 |
Current assets: | ||
Cash and cash equivalents | $ 52,032,640 | $ 510,586 |
Prepaid expenses and deposits | 932,408 | 1,228,585 |
Tax credits | 129,269 | 67,618 |
Assets, Current, Total | 53,094,317 | 1,806,789 |
Prepaid Expenses and Deposits, Noncurrent | 1,000,000 | 0 |
Property and equipment | 720,701 | 729,142 |
Right-of-use asset | 1,380,744 | 1,103,658 |
Intangible assets | 408,583 | 543,395 |
Assets, Total | 56,604,345 | 4,182,984 |
Current liabilities: | ||
Accounts payable and accrued liabilities | 1,827,761 | 2,087,525 |
Current portion of lease liabilities | 242,491 | |
Liabilities, Current, Total | 2,070,252 | 2,087,525 |
Lease obligations | 1,154,304 | |
Liabilities, Total | 3,224,556 | 2,087,525 |
Shareholders' equity | ||
Series 1 preferred shares, without par value; 20 shares authorized (2019 - 20) Issued and outstanding 12 series 1 preferred shares (2019 - 12) | 11,961,397 | 11,961,397 |
Unlimited common shares without par value; Issued and outstanding 564,051,438 common shares (2019 - 108,308,398) | 87,958,137 | 38,566,820 |
Additional paid-in capital | 18,256,678 | 3,625,083 |
Accumulated deficit | (64,796,423) | (52,057,841) |
Stockholders' Equity Attributable to Parent, Ending Balance | 53,379,789 | 2,095,459 |
Liabilities and Equity, Total | $ 56,604,345 | $ 4,182,984 |
Condensed Unaudited Interim C_2
Condensed Unaudited Interim Consolidated Balance Sheets (Parentheticals) - $ / shares $ / shares in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2020 | Dec. 31, 2019 | |
Preferred stock, no par value (in dollars per share) | $ 0 | $ 0 |
Preferred stock, authorized (in shares) | 20 | 20 |
Preferred stock, issued (in shares) | 12 | 12 |
Preferred stock, outstanding (in shares) | 12 | 12 |
Capital stock, unlimited common shares | Unlimited | Unlimited |
Capital stock, no par value (in dollars per share) | $ 0 | $ 0 |
Capital stock, issued (in shares) | 564,051,438 | 108,308,398 |
Capital stock, outstanding (in shares) | 564,051,438 | 108,308,398 |
Condensed Unaudited Interim C_3
Condensed Unaudited Interim Consolidated Statements of Operations and Comprehensive Loss - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Expenses: | ||||
Research and development | $ 2,702,103 | $ 962,463 | $ 7,205,674 | $ 9,555,345 |
General and administrative | 1,335,085 | 1,377,252 | 3,607,346 | 5,490,928 |
Professional fees | 839,646 | 306,937 | 1,413,118 | 1,296,884 |
Amortization - right-of-use asset | 0 | 127,345 | 42,448 | 382,035 |
Amortization - intangible assets | 45,399 | 273 | 135,425 | 810 |
Depreciation | 78,200 | 70,096 | 232,475 | 201,075 |
Loss from operations | 5,000,433 | 2,844,366 | 12,636,486 | 16,927,077 |
Interest income | (21,238) | (21,566) | ||
Interest expense | 732 | 18,338 | ||
Loss on disposal of property and equipment | 69,834 | 1,308 | ||
Loss on right-of-use-asset | 59,097 | |||
Gain on settlement of liabilities | (19,737) | |||
Other income | (1,963) | (7,463) | ||
Foreign exchange loss (gain) | 2,743 | 1,313 | 1,462 | 30 |
Loss before income taxes | 4,979,975 | 2,845,679 | 12,738,582 | 16,927,016 |
Income tax expense | ||||
Net loss and comprehensive loss | $ 4,979,975 | $ 2,845,679 | $ 12,738,582 | $ 16,927,016 |
Weighted average number of common shares - basic and diluted (in shares) | 550,541,878 | 108,038,398 | 291,314,002 | 105,711,459 |
Loss per share - basic and diluted (in dollars per share) | $ (0.01) | $ (0.03) | $ (0.04) | $ (0.16) |
Condensed Unaudited Interim C_4
Condensed Unaudited Interim Consolidated Statements of Shareholders' Equity - USD ($) | Preferred Stock [Member] | Common Stock [Member] | Common Stock Subscribed [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total | ||
Balance (in shares) at Dec. 31, 2018 | 97,598,898 | |||||||
Balance at Dec. 31, 2018 | $ 30,410,648 | $ 4,280,000 | $ 1,240,139 | $ (32,273,787) | $ 3,657,000 | |||
Stock issuance for services (in shares) | 707,236 | [1],[2] | ||||||
Stock issuance for services | $ 792,104 | [1],[2] | 792,104 | |||||
Stock-based compensation | 2,539,092 | 2,539,092 | ||||||
Stock issued from financing (in shares) | 12 | 9,337,529 | [3],[4] | |||||
Stock issuance for financing, net of cost | $ 11,961,397 | $ 6,690,922 | [3],[4] | (4,280,000) | $ 14,372,319 | |||
Stock issued due to exercise of options (in shares) | 394,735 | 394,735 | ||||||
Stock issued due to exercise of options | $ 754,148 | (154,148) | $ 600,000 | |||||
Net loss | (16,927,016) | (16,927,016) | ||||||
Balance (in shares) at Sep. 30, 2019 | 12 | 108,038,398 | ||||||
Balance at Sep. 30, 2019 | $ 11,961,397 | $ 38,647,822 | 3,625,083 | (49,200,803) | 5,033,499 | |||
Balance (in shares) at Dec. 31, 2019 | 12 | 108,038,398 | ||||||
Balance at Dec. 31, 2019 | $ 11,961,397 | $ 38,566,820 | 3,625,083 | (52,057,841) | 2,095,459 | |||
Stock issuance for services (in shares) | 337,830,001 | |||||||
Stock issuance for services | $ 32,275,266 | 24,221,017 | 56,496,283 | |||||
Stock-based compensation | 478,835 | $ 478,835 | ||||||
Stock issued from financing (in shares) | [5],[6],[7],[8] | 337,830,001 | ||||||
Stock issuance for financing, net of cost | [5],[6],[7],[8] | $ 29,140,905 | ||||||
Stock issued due to exercise of options (in shares) | 0 | |||||||
Net loss | (12,738,582) | $ (12,738,582) | ||||||
Stock issuance costs | (2,979,594) | (2,128,021) | (5,107,615) | |||||
Placement agent warrants | $ (154,767) | 154,767 | ||||||
Stock issued due to exercise of warrants and prefunded warrants (in shares) | 118,183,039 | |||||||
Stock issued due to exercise of warrants and prefunded warrants | $ 20,250,412 | (8,095,003) | 12,155,409 | |||||
Balance (in shares) at Sep. 30, 2020 | 12 | 564,051,438 | ||||||
Balance at Sep. 30, 2020 | $ 11,961,397 | $ 87,958,137 | $ 18,256,678 | $ (64,796,423) | $ 53,379,789 | |||
[1] | On January 14, 2019, the Company issued 657,894 common shares in satisfaction of $1,000,000 of all remaining milestones under a License and Supply Agreement with a third party. The Company recognized $736,841 as research and development expense, based on the value of the common stock on the date of issuance. | |||||||
[2] | On January 14, 2019, the Company settled $75,000 of amounts due to a vendor by issuing 49,342 common shares valued at $55,263 at the date of issuance. The Company recorded a $19,737 gain on the settlement of liabilities. | |||||||
[3] | On January 14, 2019, the Company completed a non-brokered private placement, and issued 2,815,789 common shares. Gross proceeds of $4,280,000 were received prior to December 31, 2018. The Company recorded $465 of share issuance costs as an offset to common stock. | |||||||
[4] | On March 28, 2019, the Company completed an underwritten public offering of its common stock pursuant to which the Company sold an aggregate 6,521,740 common shares for gross proceeds of $3,000,000. The Company recorded $592,707 of share issuance costs as an offset to common stock. | |||||||
[5] | On April 9, 2020 the Company completed a confidentially marketed public offering ("CMPO") of its common shares and warrants ("Series B Warrants") of 33,333,334 common shares and warrants to purchase up to 16,666,667 common shares. The securities were sold in a fixed combination of one common share and 0.5 of a Series B Warrant at a combined offering price of $0.12 per share and accompanying warrant. Each whole warrant is exercisable immediately for one common share after issuance, at an exercise price of $0.15 per share and has a term of 5 years. The Company also issued warrants to the placement agents to purchase 1,666,667 common shares at an exercise price of $0.15 per share ("Series B Placement Agent Warrants"), which were exercisable immediately upon issuance and have a term of 5 years. In aggregate, the Company issued 33,333,334 common shares,16,666,667 Series B Warrants, and an additional 1,666,667 Series B Placement Agent Warrants. The Company raised $4,000,000 in gross proceeds in the CMPO. The Company recorded $2,942,248 as the value of common shares under common stock and $1,057,752 as the value of Series B Warrants under additional paid-in-capital in the consolidated statements of shareholders' equity. The direct cash costs related to the issuance of the common shares and warrants issued in April were $582,977. These direct costs were recorded as an offset against the statement of shareholders' equity with $428,283 being recorded under capital stock and $154,694 being recorded under additional paid-in-capital. The Company also recorded the value of the Series B Placement Agent Warrants in the amount of $161,714 as an offset against the statement of shareholders' equity, with $118,951 being recorded under capital stock and $42,763 being recorded under additional paid-in-capital. | |||||||
[6] | On February 14, 2020, the Company completed a registered direct offering ("RDO") of its common shares and a simultaneous private placement of its warrants ("Series A Warrants") in a fixed combination of one common share and a Series A Warrant to purchase one common share, resulting in the sale of 20,833,334 common shares and Series A Warrants to purchase 20,833,334 common shares at a combined offering price of $0.12 per share and related Series A Warrant. Each Series A Warrant has an exercise price of $0.20 per share, is exercisable six months after issuance and has a term of 5- and one-half years. The Company also issued warrants to the placement agents to purchase 1,041,667 common shares at an exercise price of $0.15 per share ("Series A Placement Agent Warrants"), which were exercisable immediately upon issuance and have a term of 5 years. In aggregate, the Company issued 20,833,334 common shares, 20,833,334 Series A Warrants, in and an additional 1,041,667 Series A Placement Agent Warrants. The Company raised $2,500,000 in gross proceeds as part of the RDO. The Company recorded $1,705,655 as the value of common shares under common stock and $794,345 as the value of Series A Warrants under additional paid-in-capital in the consolidated statements of shareholders' equity. The direct cash costs related to the issuance of the common shares and warrants issued in February 2020 were $348,220. These direct costs were recorded as an offset against the statement of shareholders' equity with $238,217 being recorded under capital stock and $110,003 being recorded under additional paid-in-capital. The Company also recorded the value of the Series A Placement Agent Warrants in the amount of $52,496 as an offset against the statement of shareholders' equity with $35,816 being recorded under capital stock and $16,680 being recorded under additional paid-in-capital. | |||||||
[7] | On July 7, 2020 the Company completed a public offering of its common shares or common share equivalents ("Series D Pre-Funded Warrants"), and warrants ("Series D Warrants") in a fixed combination of one common share or Series D Pre-Funded warrant, and a Series D Warrant to purchase one common share, resulting in the sale of 162,500,000 common shares, 25,000,000 Series D Pre-Funded Warrants, and Series D Warrants to purchase 187,500,000 common shares at a combined offering price of $0.16 per share for the common shares and related Series D Warrant, or a combined offering price of $0.1599 per Series D Pre-Funded warrant and related Series D Warrant. Each Series D Pre-Funded warrant has an exercise price of $0.0001 per share, is exercisable immediately after issuance, is exercisable only on a cashless exercise basis, and will not expire prior to exercise. Each Series D Warrant has an exercise price of $0.16 per share, is exercisable immediately after issuance, and has a term of 2 years. The Company raised $29,997,500 in gross proceeds as part of the public offering. The Company recorded $16,290,941 as the value of common shares under common stock, $2,329,983 as the value of the Series D Pre-Funded Warrants and $11,376,575 as the value of the Series D Warrants under additional paid-in-capital in the consolidated statements of shareholders' equity. The direct cash costs related to the issuance of the common shares, Series D Pre-Funded Warrants and Series D Warrants issued in July 2020 were $2,268,215. These direct costs were recorded as an offset against the statement of shareholders' equity with $1,224,218 being recorded under capital stock and $1,043,997 being recorded under additional paid-in-capital. | |||||||
[8] | On May 29, 2020 the Company completed a public offering of its common shares or common share equivalents ("Series C Pre-Funded Warrants"), and warrants ("Series C Warrants") in a fixed combination of one common share or Series C Pre-Funded Warrant, and a Series C Warrant to purchase one common share, resulting in the sale of 121,163,333 common shares, 12,170,000 Series C Pre-Funded Warrants, and Series C Warrants to purchase 133,333,333 common shares at a combined offering price of $0.15 per share for the common shares and related Series C Warrant, or a combined offering price of $0.1499 per Pre-Funded Warrant and related Series C Warrant. Each Series C Pre-Funded Warrant has an exercise price of $0.0001 per share, is exercisable immediately after issuance, is exercisable only on a cashless exercise basis, and will not expire prior to exercise. Each Series C Warrant has an exercise price of $0.15 per share, is exercisable immediately after issuance and has a term of 2 years. The Company raised $19,998,783 in gross proceeds as part of the public offering. The Company recorded $11,336,422 as the value of common shares under common stock, $1,080,289 as the value of the Series C Pre-Funded Warrants and $7,582,072 as the value of Series C Warrants under additional paid-in-capital in the consolidated statements of shareholders' equity. The direct cash costs related to the issuance of the common shares, Series C Pre-Funded Warrants and Series C Warrants issued in May 2020 were $1,908,202. These direct costs were recorded as an offset against the statement of shareholders' equity with $1,088,876 being recorded under capital stock and $819,327 being recorded under additional paid-in-capital. |
Condensed Unaudited Interim C_5
Condensed Unaudited Interim Consolidated Statements of Cash Flows - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Cash flows used in operating activities: | ||||
Net loss for the period | $ (4,979,975) | $ (2,845,679) | $ (12,738,582) | $ (16,927,016) |
Adjustments for | ||||
Depreciation | (78,200) | (70,096) | (232,475) | (201,075) |
Amortization - intangible assets | 45,399 | 273 | 135,425 | 810 |
Amortization - right-of-use asset | 0 | 127,345 | 42,448 | 382,035 |
Loss on disposal of property and equipment | 69,834 | 1,308 | ||
Loss on right-of-use-asset | 59,097 | |||
Non-cash portion of rent expense | 6,019 | 16,051 | ||
Stock issued for services | 792,104 | |||
Stock-based compensation | 187,969 | 197,988 | 478,835 | 2,539,092 |
Change in non-cash operating working capital | ||||
Tax credits and other receivables | 53,228 | 19,558 | (61,651) | (22,333) |
Prepaid expenses | (243,461) | (122,315) | (175,553) | 140,695 |
Deposits | (906,300) | 21,366 | (827,538) | (76,709) |
Accounts payable and accrued liabilities | 96,292 | (1,378,710) | (787,124) | (798,994) |
Net Cash Provided by (Used in) Operating Activities, Total | (5,662,629) | (3,910,078) | (13,556,283) | (13,767,933) |
Cash flows from financing activities: | ||||
Proceeds from financing of preferred shares | 12,000,000 | |||
Proceeds from issuance of common shares, warrants and pre-funded warrants | 29,997,500 | 56,496,283 | 3,000,000 | |
Cash received from warrant exercises | 863,550 | 12,155,409 | 600,000 | |
Cash paid on stock issuance costs | (2,268,217) | (1,414) | (5,107,615) | (627,681) |
Cash received for government loan | 527,360 | |||
Net Cash Provided by (Used in) Financing Activities, Total | 28,592,833 | (1,414) | 64,071,437 | 14,972,319 |
Cash flows (used in) from investing activities: | ||||
Cash from sale of property and equipment | 5,400 | 0 | ||
Investment in intangibles | (501,487) | (501,487) | ||
Investment in property and equipment | (613) | (80,950) | (613) | (155,513) |
Cash from lease repurchase | 1,002,113 | |||
Net Cash Provided by (Used in) Investing Activities, Total | (613) | (582,437) | 1,006,900 | (657,000) |
Increase in cash and cash equivalents | 22,929,591 | (4,493,929) | 51,522,054 | 547,386 |
Cash and cash equivalents, beginning of period | 29,103,049 | 6,981,580 | 510,586 | 1,940,265 |
Cash and cash equivalents, end of period | 52,032,640 | 2,487,651 | 52,032,640 | 2,487,651 |
Supplemental cash flow information: | ||||
Interest paid | 12,164 | 651 | 18,338 | |
Interest received | $ 14,347 | $ 14,347 |
Note 1 - Nature of Operations a
Note 1 - Nature of Operations and Going Concern | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Substantial Doubt about Going Concern [Text Block] | 1. Nature of operations and going concern Zomedica Corp. ("Zomedica" or the “Company”) was incorporated on January 7, 2013 Business Corporations Act 2.4 May 14, 2015 On April 21, 2016, three 9674128 one 2.5 2.4 Capital Pool Companies May 2, 2016. June 21, 2016, November 17, 2017, February 10, 2020, October 5, 2020, Zomedica has one 100 180, 48108 3400, 350 7th T2P 3N9. |
Note 2 - Basis of Preparation
Note 2 - Basis of Preparation | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Basis of Accounting [Text Block] | 2. Basis of preparation The accounting policies set out below have been applied consistently in the condensed unaudited interim consolidated financial statements. The condensed unaudited interim consolidated financial statements do not December 31, 2019. three nine September 30, 2020 not may December 31, 2020. These condensed unaudited interim consolidated financial statements were prepared using the same basis of presentation, accounting policies and methods of computation as those of the audited consolidated financial statements for the year ended December 31, 2019. Basis of consolidation These condensed unaudited interim consolidated financial statements include the accounts of the Company and its wholly owned operating subsidiary, Zomedica Pharmaceuticals, Inc. All inter-company accounts and transactions have been eliminated on consolidation. |
Note 3 - Significant Accounting
Note 3 - Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 3. Significant accounting policies Use of estimates The preparation of the condensed unaudited interim consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed unaudited interim consolidated financial statements and the reported amounts of revenue and expenses during the period. Actual results could differ from those estimates. Areas where significant judgment is involved in making estimates are the determination of fair value of stock-based compensation, the useful lives of property and equipment, allocation of proceeds from financings to shares and warrants, fair value of placement agent warrants, and forecasting future cash flows for assessing the going concern assumption. Basis of measurement The condensed unaudited interim consolidated financial statements have been prepared on the historical cost basis except as otherwise noted. Functional and reporting currencies The Company's and its subsidiary's functional currency, as determined by management, is US dollars, which is also the Company's reporting currency. The accounting policies set out below have been applied consistently to all periods and companies presented in the condensed unaudited interim consolidated financial statements. Research and development Research and development costs related to continued research and development programs are expensed as incurred in accordance with Accounting Standards Codification (“ASC”) topic 730. Share issue costs Share issue costs are recorded as a reduction of the proceeds from the issuance of capital stock. Translation of foreign currencies In respect of transactions denominated in currencies other than the Company and its wholly owned operating subsidiaries' functional currencies, the monetary assets and liabilities are remeasured at the period end rates. Revenue and expenses are measured at rates of exchange prevailing on the transaction dates. All of the exchange gains or losses resulting from these other transactions are recognized in the condensed unaudited interim consolidated statements of operations and comprehensive loss. Stock-based compensation The Company measures the cost of equity-settled transactions by reference to the fair value of the equity instruments at the date at which they are granted if the fair value of the goods or services received by the Company cannot be reliably estimated. The Company calculates stock-based compensation using the fair value method, under which the fair value of the options at the grant date is calculated using the Black-Scholes Option Pricing Model, and subsequently expensed over the vesting period of the option using the graded vesting method. The provisions of the Company's stock-based compensation plans do not The Company estimates forfeitures at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Loss per share Basic loss per share (“EPS”) is computed by dividing the loss attributable to common shareholders by the weighted average number of common shares outstanding. Diluted EPS reflects the potential dilution that could occur from common shares issuable through the exercise or conversion of stock options, restricted stock awards, warrants and convertible securities. In certain circumstances, the conversion of options is excluded from diluted EPS if the effect of such inclusion would be anti-dilutive. The dilutive effect of stock options is determined using the treasury stock method. Stock options and warrants to purchase common shares of the Company during the period were not three nine September 30, 2020 2019 Comprehensive loss The Company follows ASC topic 220. no |
Note 4 - Critical Accounting Ju
Note 4 - Critical Accounting Judgments and Key Sources of Estimation Uncertainty | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Critical Accounting Judgments and Key Sources of Estimation Uncertainly [Text Block] | 4. Critical accounting judgments and key sources of estimation uncertainty The preparation of financial statements in accordance with U.S. GAAP requires management to make judgments, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, and revenue and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the judgments about carrying values of assets and liabilities that are not may The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and further periods if the review affects both current and future periods. Critical areas of estimation and judgements in applying accounting policies include the following: Stock-based payments The Company estimates the fair value of convertible securities such as options using the Black-Scholes option-pricing model which requires significant estimation around assumptions and inputs such as expected term to maturity, volatility and dividends. Useful lives of property and equipment The Company reviews the estimated useful lives of property and equipment with definite useful lives at the end of each year and assesses whether the useful lives of certain items should be shortened or extended due to various factors including technology, competition and revised service offerings. During the three nine September 30, 2020 2019, not may not The impact of the novel strain of coronavirus (“COVID- 19” The outbreak of the novel strain of coronavirus, specifically identified as “COVID- 19”, March 2020. |
Note 5 - Prepaid Expenses and D
Note 5 - Prepaid Expenses and Deposits | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Prepaid Rent [Text Block] | 5. Prepaid expenses and deposits September 30, December 31, 2020 2019 Deposits (i) $ 1,561,503 $ 1,033,231 Prepaid marketing (ii) 32,190 19,829 Prepaid insurance (ii) 258,306 110,636 Other (iii) 80,409 64,889 Total $ 1,932,408 $ 1,228,585 (i) Deposits include payments made to vendors in advance and are primarily associated with, research activity, leasing deposits and costs for additional office space. As of September 30, 2020, December 31, 2019, $1,000,000 nil (ii) As of September 30, 2020, December 31, 2019, (iii) Other is comprised of deferred financing costs, subscription payments, utilities, travel costs and software licensing. As of September 30, 2020, December 31, 2019, |
Note 6 - Property and Equipment
Note 6 - Property and Equipment | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 6. Property and equipment Computer equipment Furniture and equipment Laboratory equipment Leasehold improvements Total Cost Balance at December 31, 2018 $ 170,002 $ 181,879 $ 352,637 $ 282,975 $ 987,493 Additions 218,076 3,415 3,350 65,672 290,513 Disposals (2,210 ) - - - (2,210 ) Balance at December 31, 2019 385,868 185,294 355,987 348,647 1,275,796 Additions - - - 299,268 299,268 Disposals (9,933 ) (64,018 ) (13,712 ) (76,455 ) (164,117 ) Balance at September 30, 2020 375,935 121,276 342,275 571,460 1,410,947 Accumulated depreciation Balance at December 31, 2018 104,918 29,585 99,696 36,206 270,405 Depreciation 88,417 26,617 68,519 93,597 277,150 Disposals (901 ) - - - (901 ) Balance at December 31, 2019 192,434 56,202 168,215 129,803 546,654 Depreciation 65,330 13,333 52,267 101,545 232,475 Disposals (2,849 ) (28,505 ) (30,843 ) (26,686 ) (88,883 ) Balance at September 30, 2020 254,915 41,030 189,639 204,662 690,246 Net book value as at: December 31, 2019 $ 193,434 $ 129,092 $ 187,772 $ 218,844 $ 729,142 September 30, 2020 $ 121,020 $ 80,246 $ 152,636 $ 366,798 $ 720,701 In the nine September 30, 2020 2019, $75,234 $1,308. $5,400 nil $69,834 $1,308 nine September 30, 2020 2019. In February 2020, $299,268 February 2020 2019. |
Note 7 - Intangible Assets
Note 7 - Intangible Assets | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | 7. Intangible assets Computer software Trademarks Website Total intangible assets Cost Balance at December 31, 2018 $ 5,143 $ 16,236 $ - $ 21,379 Additions - - 531,419 531,419 Balance at December 31, 2019 5,143 16,236 531,419 552,798 Additions - - 613 613 Balance at September 30, 2020 5,143 16,236 532,032 553,411 Accumulated amortization Balance at December 31, 2018 5,143 3,178 - 8,321 Amortization - 1,082 - 1,082 Balance at December 31, 2019 5,143 4,260 - 9,403 Amortization - 820 134,605 135,425 Balance at September 30, 2020 5,143 5,080 134,605 144,828 Net book value as at: December 31, 2019 $ - $ 11,976 $ 531,419 $ 543,395 September 30, 2020 $ - $ 11,156 $ 397,427 $ 408,583 Total estimated future amortization of intangible assets for each fiscal year is as follows: 2020 $ 46,009 2021 180,144 2022 180,144 2023 1,089 2024 1,089 2025 108 Total $ 408,583 |
Note 8 - Leases
Note 8 - Leases | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 8. Leases The Company adopted ASC 842 January 1, 2019. two January 1, 2019, $1,613,038 nil $42,448 three nine September 30, 2020 ( September 30, 2019 - $127,345 $382,035 On February 1, 2020 60 February 1, 2020 January 31, 2025 $32,452, $36,525 $1,002,113. $1,061,210 February 2020, $59,097 On February 1, 2020, $1,553,611 12%. three nine September 30, 2020, $103,375 $279,997 $17,229 $56,221 $86,146 $223,776 three nine September 30, 2019, $7,603 $19,483 nil $7,603 $19,483 three nine September 30, 2020, nil $4,331 Right-of-use asset Premise lease Cost Aggregate lease commitments $ 2,067,505 Less: impact of present value (513,894 ) Balance at September 30, 2020 1,553,611 Reduction in right-of-use asset Straight line amortization 275,667 Interest (102,800 ) Balance at September 30, 2020 172,867 Net book value as of: September 30, 2020 $ 1,380,744 Lease liabilities Premise lease Additions $ 1,553,611 Payments (259,616 ) Interest 102,800 Total lease liabilities at September 30, 2020 1,396,795 Current portion of lease liabilities 242,491 Long term portion of lease liabilities 1,154,304 Total lease liabilities at September 30, 2020 $ 1,396,795 Total remaining undiscounted lease liabilities related to the above lease are as follows: 2020 $ 97,357 2021 400,133 2022 412,137 2023 424,501 2024 437,236 2025 36,525 Total $ 1,807,889 |
Note 9 - Loan Arrangements
Note 9 - Loan Arrangements | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 9. Loan arrangements On October 17, 2017, may $5,000,000, five 5 may one $250,000 one not two may fourteen 14% September 30, 2020, no In April 2020, $527,360 two 1% |
Note 10 - Preferred Stock
Note 10 - Preferred Stock | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Preferred Stock [Text Block] | 10. Preferred stock The Company is authorized to issue 20 1 $1,000,000. 1 not not 1 not 9 9 1 1 9 1 Upon any dissolution, liquidation or winding up, whether voluntary or involuntary, holders of Series 1 1 1 In the event of a fundamental transaction (defined to include an amalgamation, merger or other business combination transaction involving the Company in which our shareholders do not 50% may third 1 1 1 5.0 9.0 1 Issued and outstanding preferred stock: Number of preferred Preferred stock stock amount Balance at December 31, 2018 - $ - Stock issued from financing (i) 12 11,961,397 Balance at December 31, 2019 12 $ 11,961,397 Balance at September 30, 2020 12 $ 11,961,397 |
Note 11 - Common Stock
Note 11 - Common Stock | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 11. Common stock The Company is authorized to issue an unlimited number of common shares, all without par value. Issued and outstanding common stock: Common Common stock amount stock value Balance at December 31, 2018 97,598,898 $ 30,410,648 Stock issuance for services (i and ii) 707,236 792,104 Stock issued from financing (iii and iv) 9,337,529 6,690,922 Stock issued due to exercise of options 394,735 754,148 Balance at September 30, 2019 108,038,398 $ 38,647,822 Balance at December 31, 2019 108,038,398 $ 38,566,820 Stock issued from financing (v,vi,vii,viii) 337,830,001 29,140,905 Stock issued from the financing and exercise of prefunded warrants (viii) 37,146,984 3,410,276 Stock issued from the exercise of warrants (ix and xi) 81,036,055 16,840,136 Balance at September 30, 2020 564,051,438 $ 87,958,137 (i) On January 14, 2019, $75,000 49,342 $55,263 $19,737 (ii) On January 14, 2019, 657,894 $1,000,000 third $736,841 (iii) On January 14, 2019, 2,815,789 $4,280,000 December 31, 2018. $465 (iv) On March 28, 2019, 6,521,740 $3,000,000. $592,707 (v) On February 14, 2020, one one 20,833,334 20,833,334 $0.12 $0.20 six 5 one 1,041,667 $0.15 5 20,833,334 20,833,334 1,041,667 The Company raised $2,500,000 $1,705,655 $794,345 The direct cash costs related to the issuance of the common shares and warrants issued in February 2020 $348,220. $238,217 $110,003 $52,496 $35,816 $16,680 (vi) On April 9, 2020 33,333,334 16,666,667 one 0.5 $0.12 one $0.15 5 1,666,667 $0.15 5 33,333,334 shares,16,666,667 1,666,667 The Company raised $4,000,000 $2,942,248 $1,057,752 The direct cash costs related to the issuance of the common shares and warrants issued in April $582,977. $428,283 $154,694 $161,714 $118,951 $42,763 (vii) On May 29, 2020 one one 121,163,333 12,170,000 133,333,333 $0.15 $0.1499 $0.0001 not $0.15 2 The Company raised $19,998,783 $11,336,422 $1,080,289 $7,582,072 The direct cash costs related to the issuance of the common shares, Series C Pre-Funded Warrants and Series C Warrants issued in May 2020 $1,908,202. $1,088,876 $819,327 (viii) On July 7, 2020 one one 162,500,000 25,000,000 187,500,000 $0.16 $0.1599 $0.0001 not $0.16 2 The Company raised $29,997,500 $16,290,941 $2,329,983 $11,376,575 The direct cash costs related to the issuance of the common shares, Series D Pre-Funded Warrants and Series D Warrants issued in July 2020 $2,268,215. $1,224,218 $1,043,997 (ix) All Series C Pre-Funded Warrants were exercised in June 2020. 12,162,492 ( x All Series D Pre-Funded Warrants were exercised in July 2020. 24,984,492 (xi) As of September 30, 2020, 11,602,084 $1,740,313, 69,433,971 $10,415,096. |
Note 12 - Stock-based Compensat
Note 12 - Stock-based Compensation | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 12. Stock-based compensation During the three September 30, 2020 2019, nil nine September 30, 2020 2019, nil 394,735 three September 30, 2020 2019, 515,000 1,500,000 nine September 30, 2020 2019, 7,571,000 7,495,000 one The continuity of stock options is as follows: Number of options Weighted avg exercise price Balance at December 31, 2019 7,040,265 $ 1.28 Stock options forfeited January 23, 2020 (50,000 ) 1.52 Stock options forfeited February 25, 2020 (5,000 ) 1.12 Stock options forfeited March 1, 2020 (50,000 ) 1.52 Stock options granted March 14, 2020 5,056,000 0.19 Stock options forfeited April 21, 2020 (150,000 ) 0.19 Stock options forfeited May 4, 2019 (15,000 ) 0.19 Stock options forfeited May 5, 2020 (30,000 ) 1.52 Stock options forfeited May 7, 2020 (15,000 ) 1.52 Stock options forfeited June 11, 2020 (15,000 ) 1.52 Stock options granted June 16, 2020 2,000,000 0.19 Stock options granted July 9, 2020 175,000 0.18 Stock options forfeited July 20, 2020 (400,000 ) 1.52 Stock options forfeited July 20, 2020 (50,000 ) 0.19 Stock options forfeited July 31, 2020 (3,750 ) 0.19 Stock options forfeited August 2, 2020 (10,000 ) 1.52 Stock options forfeited August 2, 2020 (5,000 ) 0.19 Stock options forfeited August 14, 2020 (675,000 ) 0.19 Stock options forfeited August 19, 2020 (75,375 ) 0.19 Stock options granted August 25, 2020 40,000 0.13 Stock options forfeited September 25, 2020 (37,500 ) 0.19 Stock options granted September 29, 2020 300,000 0.11 Balance at September 30, 2020 13,024,640 $ 0.72 Vested at September 30, 2020 9,136,348 $ 0.95 As at September 30, 2020, Grant date Exercise price Number of options issued and outstanding Number of vested options outstanding Number of unvested options outstanding Weighted Avg Remaining Life outstanding (years) January 10, 2019 $ 1.52 4,965,265 4,965,265 - 0.28 August 19, 2019 0.26 500,000 500,000 - 0.88 August 19, 2019 0.35 100,000 100,000 - 0.88 August 19, 2019 0.45 100,000 100,000 - 0.88 August 19, 2019 0.55 100,000 100,000 - 0.88 August 19, 2019 0.65 100,000 100,000 - 0.88 August 19, 2019 0.75 100,000 100,000 - 0.88 September 16, 2019 0.43 500,000 500,000 - 0.96 March 14, 2020 0.19 4,044,375 1,209,000 2,835,375 4.45 June 16, 2020 0.19 2,000,000 1,333,334 666,666 4.71 July 9, 2020 0.18 175,000 43,750 131,250 4.78 August 25, 2020 0.13 40,000 10,000 30,000 4.90 September 29, 2020 0.11 300,000 75,000 225,000 5.00 Balance at September 30, 2020 13,024,640 9,136,349 3,888,291 The fair value of options granted during the three nine September 30, 2020 July 9, 2020 June 16, 2020 March 14, 2020 Volatility 100% 100% 87% Risk-free interest rate 0.28% 0.21% 0.49% Expected life (years) 5 5 5 Divedend yield 0% 0% 0% Common share price $0.17 $0.19 $0.18 Strike price $0.18 $0.19 $0.19 Forfeiture rate nil nil nil September 29, 2020 August 25, 2020 Volatility 100% 99% Risk-free interest rate 0.24% 0.30% Expected life (years) 5 5 Divedend yield 0% 0% Common share price $0.10 $0.13 Strike price $0.11 $0.13 Forfeiture rate nil nil The Company recorded $187,969 $478,835 three nine September 30, 2020 ( 2019 $197,988 $2,539,092 three nine September 30, 2020 nil three nine September 30, 2019 nil $600,000 nil $154,148 The Company has estimated its stock option forfeitures to be nil three nine September 30, 2020 ( three nine September 30, 2019 - nil |
Note 13 - Warrants
Note 13 - Warrants | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Stockholders' Equity Warrants Note Disclosure [Text Block] | 13. Warrants In connection with the February 14, 2020 20,833,334 five one one $0.20. 1,041,667 one $0.15 In connection with the April 9, 2020 16,666,667 five one $0.15. 1,666,667 one $0.15 In connection with the May 29, 2020 133,333,333 two one $0.15. 12,170,000 $0.0001 September 30, 2020, In connection with the July 7, 2020 187,500,000 two one $0.16. 25,000,000 $0.0001 September 30, 2020, As of September 30, 2020, Original Issue date Exercise Price Warrants Outstanding Weighted Average Remaining Life February 14, 2020 0.20 20,833,334 4.87 February 14, 2020 0.15 1,041,667 4.37 April 9, 2020 0.15 6,731,250 4.53 May 29, 2020 0.15 63,899,362 1.66 July 7, 2020 0.16 187,500,000 1.77 Balance at September 30, 2020 280,005,613 The fair value of warrants issued during the three nine September 30, 2020 Series A Warrants February 14, 2020 Series A Placement Agent Warrants February 14, 2020 Volatility 87% 87% Risk-free interest rate 1.42% 1.42% Expected life (years) 5.5 5 Dividend yield 0% 0% Common share price $0.12 $0.12 Strike price $0.20 $0.15 Forfeiture rate nil nil Series B Warrants April 9, 2020 Series B Placement Agent Warrants April 9, 2020 Volatility 99% 99% Risk-free interest rate 0.41% 0.41% Expected life (years) 5 5 Dividend yield 0% 0% Common share price $0.14 $0.14 Strike price $0.15 $0.15 Forfeiture rate nil nil Series C Warrants May 29, 2020 Volatility 118% Risk-free interest rate 0.16% Expected life (years) 2 Dividend yield 0% Common share price $0.16 Strike price $0.15 Forfeiture rate nil Series D Warrants July 7, 2020 Volatility 118% Risk-free interest rate 0.16% Expected life (years) 2 Dividend yield 0% Common share price $0.17 Strike price $0.16 Forfeiture rate nil |
Note 14 - Commitments and Conti
Note 14 - Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 14. Commitments and contingencies On November 26, 2018, • 1 st September 12, 2019, ○ $3,000,000 or ○ $1,500,000 $1.95 • 2 nd February 19, 2020 - $2,000,000 • 3 rd September 12, 2019, ○ $3,000,000 or ○ $1,500,000 $1.95 • 4 th February 19, 2020 - $2,000,000 As of September 30, 2020, On May 10, 2018, • 1 st $3,500,000 • 2 nd $3,500,000 10 As of September 30, 2020, On November 1, 2019, 1:19 01108 November 22, 2019. TM January 21, 2020, February 11, 2020, February 25, 2020. September 30, 2020, no not Under the terms of the Development and Supply Agreement, dated November 26, 2018, third |
Note 15 - Financial Instruments
Note 15 - Financial Instruments | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Financial Instruments Disclosure [Text Block] | 15. Financial instruments (a) Fair values The Company follows ASC topic 820, 820 820 three three three Level 1 Level 2 1 Level 3 The categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The carrying values of cash and accounts payable and accrued liabilities approximates their fair values because of the short-term nature of these instruments. (b) Interest rate and credit risk Interest rate risk is the risk that the value of a financial instrument might be adversely affected by a change in interest rates. The Company does not The Company is also exposed to credit risk at period end from the carrying value of its cash. The Company manages this risk by maintaining bank accounts with a Canadian Chartered Bank. The Company's cash is not (c) Foreign exchange risk The Company has balances in Canadian dollars that give rise to exposure to foreign exchange (“FX”) risk relating to the impact of translating certain non-U.S. dollar balance sheet accounts as these statements are presented in U.S. dollars. A strengthening U.S. dollar will lead to an FX loss while a weakening U.S. dollar will lead to an FX gain. For each Canadian dollar balance of $1.0 10% $0.1 (d) Liquidity risk Liquidity risk is the risk that the Company will encounter difficulty raising liquid funds to meet commitments as they fall due. In meeting its liquidity requirements, the Company closely monitors its forecasted cash requirements with expected cash drawdown. The following are the contractual maturities of the undiscounted cash flows of financial liabilities as at September 30, 2020 December 31, 2019: September 30, 2020 Less than 3 6 6 9 9 months Greater than 3 months months months 1 year 1 year Total $ $ $ $ $ $ Third parties Accounts payable and accrued liabilities 1,827,761 - - - - 1,827,761 1,827,761 - - - - 1,827,761 December 31, 2019 Less than 3 6 6 9 9 months Greater than 3 months months months 1 year 1 year Total $ $ $ $ $ $ Third parties Accounts payable and accrued liabilities 2,087,525 - - - - 2,087,525 2,087,525 - - - - 2,087,525 |
Note 16 - Segmented Information
Note 16 - Segmented Information | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 16. Segmented information The Company's operations comprise a single reportable segment engaged in research and development targeting health and wellness solutions for the companion animal. As the operations comprise a single reportable segment, amounts disclosed in the financial statements for loss for the period, depreciation, and total assets also represent non-segmented amounts. In addition, all of the Company's long-lived assets are in the United States of America (“US”). September 30, December 31, 2020 2019 $ $ Total assets Canada 52,077,832 249,929 US 4,526,513 3,933,055 Total US property and equipment 720,701 729,142 Total US right-of-use asset 1,380,744 1,103,658 2,101,445 1,832,800 |
Note 17 - Schedule of Expenses
Note 17 - Schedule of Expenses | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Operating Expenses [Text Block] | 17. Schedule of expenses For the three months ended For the three months ended 2020 2019 Research and Professional General and Research and Professional General and Development Fees Administrative Development Fees Administrative Salaries, bonus and benefits $ 118,015 $ - $ 910,668 $ 147,515 $ - $ 879,422 Contracted expenditures 544,952 - - 661,917 - - Marketing and investor relations - - 59,559 - - 165,837 Travel and accommodation - - 91 8,327 - 198,993 Insurance 181 - 62,649 1,301 - 36,065 License fees 2,000,000 - - - - - Office 9,750 - 63,771 11,565 - 52,332 Consultants 6,500 839,646 - 29,343 306,937 - Regulatory - - 152,201 31,773 - 26,163 Rent 17,229 - 86,146 - - 7,603 Supplies 5,476 - - 70,722 - 10,837 Total $ 2,702,103 $ 839,646 $ 1,335,085 $ 962,463 $ 306,937 $ 1,377,252 For the nine months ended For the nine months ended 2020 2019 Research and Professional General and Research and Professional General and Development Fees Administrative Development Fees Administrative Salaries, bonus and benefits $ 433,659 $ - $ 2,414,103 $ 651,315 $ - $ 4,524,682 Contracted expenditures 1,423,764 - - 2,474,483 - - Marketing and investor relations - - 176,938 - - 297,252 Travel and accommodation 407 - 13,006 21,103 - 318,730 Insurance 622 - 154,999 4,197 - 77,165 License fees 5,000,000 - - 5,936,841 - - Office 31,827 - 361,967 31,162 - 149,788 Consultants 84,626 1,413,118 - 178,223 1,296,884 - Regulatory 151,073 - 262,557 95,418 - 76,333 Rent 56,221 - 223,776 - - 19,483 Supplies 23,475 - - 162,603 - 27,495 Total $ 7,205,674 $ 1,413,118 $ 3,607,346 $ 9,555,345 $ 1,296,884 $ 5,490,928 |
Note 18 - Capital Risk Manageme
Note 18 - Capital Risk Management | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Capital Risk Management [Text Block] | 18. Capital risk management The capital of the Company includes equity, which is comprised of issued common shares, additional paid-in capital, and accumulated deficit. The Company's objective when managing its capital is to safeguard the ability to continue as a going concern in order to provide returns for its shareholders and other stakeholders, and to maintain a strong capital base to support the Company's core activities. |
Note 19 - Loss Per Share
Note 19 - Loss Per Share | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 19. Loss per share For the three months ended For the nine months ended 2020 2019 2020 2019 Numerator Net loss for the period $ 4,979,975 $ 2,845,679 $ 12,738,582 $ 16,927,016 Denominator Weighted average shares - basic 550,541,878 108,038,398 291,314,002 105,711,459 Warrants - - - - Stock options - - - - Denominator for diluted loss per share 550,541,878 108,038,398 291,314,002 105,711,459 Loss per share - basic and diluted $ (0.01 ) $ (0.03 ) $ (0.04 ) $ (0.16 ) For the above-mentioned periods, the Company had securities outstanding which could potentially dilute basic earnings per share in the future but were excluded from the computation of diluted loss per share in the periods presented, as their effect would have been anti-dilutive. |
Note 20 - Related Party Transac
Note 20 - Related Party Transactions and Key Management Compensation | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 20. Related party transactions and key management compensation Key management personnel are comprised of the Company's directors and executive officers. In addition to their salaries, key management personnel also receive share-based compensation. Key management personnel compensation is as follows: For the three months ended For the nine months ended 2020 2019 2020 2019 Salaries and benefits, including bonuses $ 281,868 $ 251,737 $ 624,604 $ 887,635 Stock-based compensation 15,445 100,002 393,470 1,744,327 Total $ 297,313 $ 351,739 $ 1,018,074 $ 2,631,962 |
Note 21 - Comparative Figures
Note 21 - Comparative Figures | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Reclassifications [Text Block] | 21. Comparative figures Certain prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no three nine September 30, 2019 not |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2020 | |
Accounting Policies [Abstract] | |
Use of Estimates, Policy [Policy Text Block] | Use of estimates The preparation of the condensed unaudited interim consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed unaudited interim consolidated financial statements and the reported amounts of revenue and expenses during the period. Actual results could differ from those estimates. Areas where significant judgment is involved in making estimates are the determination of fair value of stock-based compensation, the useful lives of property and equipment, allocation of proceeds from financings to shares and warrants, fair value of placement agent warrants, and forecasting future cash flows for assessing the going concern assumption. |
Basis of Measurement [Policy Text Block] | Basis of measurement The condensed unaudited interim consolidated financial statements have been prepared on the historical cost basis except as otherwise noted. |
Functional and Reporting Currencies [Policy Text Block] | Functional and reporting currencies The Company's and its subsidiary's functional currency, as determined by management, is US dollars, which is also the Company's reporting currency. The accounting policies set out below have been applied consistently to all periods and companies presented in the condensed unaudited interim consolidated financial statements. |
Research and Development Expense, Policy [Policy Text Block] | Research and development Research and development costs related to continued research and development programs are expensed as incurred in accordance with Accounting Standards Codification (“ASC”) topic 730. |
Share Issue Costs [Policy Text Block] | Share issue costs Share issue costs are recorded as a reduction of the proceeds from the issuance of capital stock. |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Translation of foreign currencies In respect of transactions denominated in currencies other than the Company and its wholly owned operating subsidiaries' functional currencies, the monetary assets and liabilities are remeasured at the period end rates. Revenue and expenses are measured at rates of exchange prevailing on the transaction dates. All of the exchange gains or losses resulting from these other transactions are recognized in the condensed unaudited interim consolidated statements of operations and comprehensive loss. |
Compensation Related Costs, Policy [Policy Text Block] | Stock-based compensation The Company measures the cost of equity-settled transactions by reference to the fair value of the equity instruments at the date at which they are granted if the fair value of the goods or services received by the Company cannot be reliably estimated. The Company calculates stock-based compensation using the fair value method, under which the fair value of the options at the grant date is calculated using the Black-Scholes Option Pricing Model, and subsequently expensed over the vesting period of the option using the graded vesting method. The provisions of the Company's stock-based compensation plans do not The Company estimates forfeitures at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. |
Earnings Per Share, Policy [Policy Text Block] | Loss per share Basic loss per share (“EPS”) is computed by dividing the loss attributable to common shareholders by the weighted average number of common shares outstanding. Diluted EPS reflects the potential dilution that could occur from common shares issuable through the exercise or conversion of stock options, restricted stock awards, warrants and convertible securities. In certain circumstances, the conversion of options is excluded from diluted EPS if the effect of such inclusion would be anti-dilutive. The dilutive effect of stock options is determined using the treasury stock method. Stock options and warrants to purchase common shares of the Company during the period were not three nine September 30, 2020 2019 |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive loss The Company follows ASC topic 220. no |
Note 5 - Prepaid Expenses and_2
Note 5 - Prepaid Expenses and Deposits (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Prepaid Expenses and Deposits [Table Text Block] | September 30, December 31, 2020 2019 Deposits (i) $ 1,561,503 $ 1,033,231 Prepaid marketing (ii) 32,190 19,829 Prepaid insurance (ii) 258,306 110,636 Other (iii) 80,409 64,889 Total $ 1,932,408 $ 1,228,585 |
Note 6 - Property and Equipme_2
Note 6 - Property and Equipment (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | Computer equipment Furniture and equipment Laboratory equipment Leasehold improvements Total Cost Balance at December 31, 2018 $ 170,002 $ 181,879 $ 352,637 $ 282,975 $ 987,493 Additions 218,076 3,415 3,350 65,672 290,513 Disposals (2,210 ) - - - (2,210 ) Balance at December 31, 2019 385,868 185,294 355,987 348,647 1,275,796 Additions - - - 299,268 299,268 Disposals (9,933 ) (64,018 ) (13,712 ) (76,455 ) (164,117 ) Balance at September 30, 2020 375,935 121,276 342,275 571,460 1,410,947 Accumulated depreciation Balance at December 31, 2018 104,918 29,585 99,696 36,206 270,405 Depreciation 88,417 26,617 68,519 93,597 277,150 Disposals (901 ) - - - (901 ) Balance at December 31, 2019 192,434 56,202 168,215 129,803 546,654 Depreciation 65,330 13,333 52,267 101,545 232,475 Disposals (2,849 ) (28,505 ) (30,843 ) (26,686 ) (88,883 ) Balance at September 30, 2020 254,915 41,030 189,639 204,662 690,246 Net book value as at: December 31, 2019 $ 193,434 $ 129,092 $ 187,772 $ 218,844 $ 729,142 September 30, 2020 $ 121,020 $ 80,246 $ 152,636 $ 366,798 $ 720,701 |
Note 7 - Intangible Assets (Tab
Note 7 - Intangible Assets (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | Computer software Trademarks Website Total intangible assets Cost Balance at December 31, 2018 $ 5,143 $ 16,236 $ - $ 21,379 Additions - - 531,419 531,419 Balance at December 31, 2019 5,143 16,236 531,419 552,798 Additions - - 613 613 Balance at September 30, 2020 5,143 16,236 532,032 553,411 Accumulated amortization Balance at December 31, 2018 5,143 3,178 - 8,321 Amortization - 1,082 - 1,082 Balance at December 31, 2019 5,143 4,260 - 9,403 Amortization - 820 134,605 135,425 Balance at September 30, 2020 5,143 5,080 134,605 144,828 Net book value as at: December 31, 2019 $ - $ 11,976 $ 531,419 $ 543,395 September 30, 2020 $ - $ 11,156 $ 397,427 $ 408,583 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | 2020 $ 46,009 2021 180,144 2022 180,144 2023 1,089 2024 1,089 2025 108 Total $ 408,583 |
Note 8 - Leases (Tables)
Note 8 - Leases (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Lessee, Operating Lease, Right of Use Asset and Lease Liabilities [Table Text Block] | Right-of-use asset Premise lease Cost Aggregate lease commitments $ 2,067,505 Less: impact of present value (513,894 ) Balance at September 30, 2020 1,553,611 Reduction in right-of-use asset Straight line amortization 275,667 Interest (102,800 ) Balance at September 30, 2020 172,867 Net book value as of: September 30, 2020 $ 1,380,744 Lease liabilities Premise lease Additions $ 1,553,611 Payments (259,616 ) Interest 102,800 Total lease liabilities at September 30, 2020 1,396,795 Current portion of lease liabilities 242,491 Long term portion of lease liabilities 1,154,304 Total lease liabilities at September 30, 2020 $ 1,396,795 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | 2020 $ 97,357 2021 400,133 2022 412,137 2023 424,501 2024 437,236 2025 36,525 Total $ 1,807,889 |
Note 10 - Preferred Stock (Tabl
Note 10 - Preferred Stock (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Preferred Stock [Table Text Block] | Number of preferred Preferred stock stock amount Balance at December 31, 2018 - $ - Stock issued from financing (i) 12 11,961,397 Balance at December 31, 2019 12 $ 11,961,397 Balance at September 30, 2020 12 $ 11,961,397 |
Note 11 - Common Stock (Tables)
Note 11 - Common Stock (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Common Stock Outstanding Roll Forward [Table Text Block] | Common Common stock amount stock value Balance at December 31, 2018 97,598,898 $ 30,410,648 Stock issuance for services (i and ii) 707,236 792,104 Stock issued from financing (iii and iv) 9,337,529 6,690,922 Stock issued due to exercise of options 394,735 754,148 Balance at September 30, 2019 108,038,398 $ 38,647,822 Balance at December 31, 2019 108,038,398 $ 38,566,820 Stock issued from financing (v,vi,vii,viii) 337,830,001 29,140,905 Stock issued from the financing and exercise of prefunded warrants (viii) 37,146,984 3,410,276 Stock issued from the exercise of warrants (ix and xi) 81,036,055 16,840,136 Balance at September 30, 2020 564,051,438 $ 87,958,137 |
Note 12 - Stock-based Compens_2
Note 12 - Stock-based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Number of options Weighted avg exercise price Balance at December 31, 2019 7,040,265 $ 1.28 Stock options forfeited January 23, 2020 (50,000 ) 1.52 Stock options forfeited February 25, 2020 (5,000 ) 1.12 Stock options forfeited March 1, 2020 (50,000 ) 1.52 Stock options granted March 14, 2020 5,056,000 0.19 Stock options forfeited April 21, 2020 (150,000 ) 0.19 Stock options forfeited May 4, 2019 (15,000 ) 0.19 Stock options forfeited May 5, 2020 (30,000 ) 1.52 Stock options forfeited May 7, 2020 (15,000 ) 1.52 Stock options forfeited June 11, 2020 (15,000 ) 1.52 Stock options granted June 16, 2020 2,000,000 0.19 Stock options granted July 9, 2020 175,000 0.18 Stock options forfeited July 20, 2020 (400,000 ) 1.52 Stock options forfeited July 20, 2020 (50,000 ) 0.19 Stock options forfeited July 31, 2020 (3,750 ) 0.19 Stock options forfeited August 2, 2020 (10,000 ) 1.52 Stock options forfeited August 2, 2020 (5,000 ) 0.19 Stock options forfeited August 14, 2020 (675,000 ) 0.19 Stock options forfeited August 19, 2020 (75,375 ) 0.19 Stock options granted August 25, 2020 40,000 0.13 Stock options forfeited September 25, 2020 (37,500 ) 0.19 Stock options granted September 29, 2020 300,000 0.11 Balance at September 30, 2020 13,024,640 $ 0.72 Vested at September 30, 2020 9,136,348 $ 0.95 |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding [Table Text Block] | Grant date Exercise price Number of options issued and outstanding Number of vested options outstanding Number of unvested options outstanding Weighted Avg Remaining Life outstanding (years) January 10, 2019 $ 1.52 4,965,265 4,965,265 - 0.28 August 19, 2019 0.26 500,000 500,000 - 0.88 August 19, 2019 0.35 100,000 100,000 - 0.88 August 19, 2019 0.45 100,000 100,000 - 0.88 August 19, 2019 0.55 100,000 100,000 - 0.88 August 19, 2019 0.65 100,000 100,000 - 0.88 August 19, 2019 0.75 100,000 100,000 - 0.88 September 16, 2019 0.43 500,000 500,000 - 0.96 March 14, 2020 0.19 4,044,375 1,209,000 2,835,375 4.45 June 16, 2020 0.19 2,000,000 1,333,334 666,666 4.71 July 9, 2020 0.18 175,000 43,750 131,250 4.78 August 25, 2020 0.13 40,000 10,000 30,000 4.90 September 29, 2020 0.11 300,000 75,000 225,000 5.00 Balance at September 30, 2020 13,024,640 9,136,349 3,888,291 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | July 9, 2020 June 16, 2020 March 14, 2020 Volatility 100% 100% 87% Risk-free interest rate 0.28% 0.21% 0.49% Expected life (years) 5 5 5 Divedend yield 0% 0% 0% Common share price $0.17 $0.19 $0.18 Strike price $0.18 $0.19 $0.19 Forfeiture rate nil nil nil September 29, 2020 August 25, 2020 Volatility 100% 99% Risk-free interest rate 0.24% 0.30% Expected life (years) 5 5 Divedend yield 0% 0% Common share price $0.10 $0.13 Strike price $0.11 $0.13 Forfeiture rate nil nil |
Note 13 - Warrants (Tables)
Note 13 - Warrants (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Original Issue date Exercise Price Warrants Outstanding Weighted Average Remaining Life February 14, 2020 0.20 20,833,334 4.87 February 14, 2020 0.15 1,041,667 4.37 April 9, 2020 0.15 6,731,250 4.53 May 29, 2020 0.15 63,899,362 1.66 July 7, 2020 0.16 187,500,000 1.77 Balance at September 30, 2020 280,005,613 |
Schedule of Warrant or Right Outstanding and Options, Valuation Assumptions [Table Text Block] | Series A Warrants February 14, 2020 Series A Placement Agent Warrants February 14, 2020 Volatility 87% 87% Risk-free interest rate 1.42% 1.42% Expected life (years) 5.5 5 Dividend yield 0% 0% Common share price $0.12 $0.12 Strike price $0.20 $0.15 Forfeiture rate nil nil Series B Warrants April 9, 2020 Series B Placement Agent Warrants April 9, 2020 Volatility 99% 99% Risk-free interest rate 0.41% 0.41% Expected life (years) 5 5 Dividend yield 0% 0% Common share price $0.14 $0.14 Strike price $0.15 $0.15 Forfeiture rate nil nil Series C Warrants May 29, 2020 Volatility 118% Risk-free interest rate 0.16% Expected life (years) 2 Dividend yield 0% Common share price $0.16 Strike price $0.15 Forfeiture rate nil Series D Warrants July 7, 2020 Volatility 118% Risk-free interest rate 0.16% Expected life (years) 2 Dividend yield 0% Common share price $0.17 Strike price $0.16 Forfeiture rate nil |
Note 15 - Financial Instrumen_2
Note 15 - Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Contractual Maturities of Undiscounted Cash Flows of Financial Liabilities [Table Text Block] | September 30, 2020 Less than 3 6 6 9 9 months Greater than 3 months months months 1 year 1 year Total $ $ $ $ $ $ Third parties Accounts payable and accrued liabilities 1,827,761 - - - - 1,827,761 1,827,761 - - - - 1,827,761 December 31, 2019 Less than 3 6 6 9 9 months Greater than 3 months months months 1 year 1 year Total $ $ $ $ $ $ Third parties Accounts payable and accrued liabilities 2,087,525 - - - - 2,087,525 2,087,525 - - - - 2,087,525 |
Note 16 - Segmented Informati_2
Note 16 - Segmented Information (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Long-lived Assets by Geographic Areas [Table Text Block] | September 30, December 31, 2020 2019 $ $ Total assets Canada 52,077,832 249,929 US 4,526,513 3,933,055 Total US property and equipment 720,701 729,142 Total US right-of-use asset 1,380,744 1,103,658 2,101,445 1,832,800 |
Note 17 - Schedule of Expenses
Note 17 - Schedule of Expenses (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Operating Expenses [Table Text Block] | For the three months ended For the three months ended 2020 2019 Research and Professional General and Research and Professional General and Development Fees Administrative Development Fees Administrative Salaries, bonus and benefits $ 118,015 $ - $ 910,668 $ 147,515 $ - $ 879,422 Contracted expenditures 544,952 - - 661,917 - - Marketing and investor relations - - 59,559 - - 165,837 Travel and accommodation - - 91 8,327 - 198,993 Insurance 181 - 62,649 1,301 - 36,065 License fees 2,000,000 - - - - - Office 9,750 - 63,771 11,565 - 52,332 Consultants 6,500 839,646 - 29,343 306,937 - Regulatory - - 152,201 31,773 - 26,163 Rent 17,229 - 86,146 - - 7,603 Supplies 5,476 - - 70,722 - 10,837 Total $ 2,702,103 $ 839,646 $ 1,335,085 $ 962,463 $ 306,937 $ 1,377,252 For the nine months ended For the nine months ended 2020 2019 Research and Professional General and Research and Professional General and Development Fees Administrative Development Fees Administrative Salaries, bonus and benefits $ 433,659 $ - $ 2,414,103 $ 651,315 $ - $ 4,524,682 Contracted expenditures 1,423,764 - - 2,474,483 - - Marketing and investor relations - - 176,938 - - 297,252 Travel and accommodation 407 - 13,006 21,103 - 318,730 Insurance 622 - 154,999 4,197 - 77,165 License fees 5,000,000 - - 5,936,841 - - Office 31,827 - 361,967 31,162 - 149,788 Consultants 84,626 1,413,118 - 178,223 1,296,884 - Regulatory 151,073 - 262,557 95,418 - 76,333 Rent 56,221 - 223,776 - - 19,483 Supplies 23,475 - - 162,603 - 27,495 Total $ 7,205,674 $ 1,413,118 $ 3,607,346 $ 9,555,345 $ 1,296,884 $ 5,490,928 |
Note 19 - Loss Per Share (Table
Note 19 - Loss Per Share (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the three months ended For the nine months ended 2020 2019 2020 2019 Numerator Net loss for the period $ 4,979,975 $ 2,845,679 $ 12,738,582 $ 16,927,016 Denominator Weighted average shares - basic 550,541,878 108,038,398 291,314,002 105,711,459 Warrants - - - - Stock options - - - - Denominator for diluted loss per share 550,541,878 108,038,398 291,314,002 105,711,459 Loss per share - basic and diluted $ (0.01 ) $ (0.03 ) $ (0.04 ) $ (0.16 ) |
Note 20 - Related Party Trans_2
Note 20 - Related Party Transactions and Key Management Compensation (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Key Management Personnel Compensation [Table Text Block] | For the three months ended For the nine months ended 2020 2019 2020 2019 Salaries and benefits, including bonuses $ 281,868 $ 251,737 $ 624,604 $ 887,635 Stock-based compensation 15,445 100,002 393,470 1,744,327 Total $ 297,313 $ 351,739 $ 1,018,074 $ 2,631,962 |
Note 5 - Prepaid Expenses and_3
Note 5 - Prepaid Expenses and Deposits (Details Textual) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 |
Prepaid Expenses and Deposits, Noncurrent | $ 1,000,000 | $ 0 |
Note 5 - Prepaid Expenses and_4
Note 5 - Prepaid Expenses and Deposits - Summary of Prepaid Expenses and Deposits (Details) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 | |
Deposits | [1] | $ 1,561,503 | $ 1,033,231 |
Prepaid marketing | [2] | 32,190 | 19,829 |
Prepaid insurance | [2] | 258,306 | 110,636 |
Other | [3] | 80,409 | 64,889 |
Total | $ 1,932,408 | $ 1,228,585 | |
[1] | Deposits include payments made to vendors in advance and are primarily associated with, research activity, leasing deposits and costs for additional office space. As of September 30, 2020, and December 31, 2019, the Company classified $932,408 and $1,228,585 as a current asset in the consolidated balance sheet; | ||
[2] | As of September 30, 2020, and December 31, 2019, all amounts were classified as a current asset in the consolidated balance sheet; | ||
[3] | Other is comprised of deferred financing costs, subscription payments, utilities, travel costs and software licensing. As of September 30, 2020, and December 31, 2019, the Company classified all amounts as a current asset in the consolidated balance sheet. |
Note 6 - Property and Equipme_3
Note 6 - Property and Equipment (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Feb. 29, 2020 | Dec. 31, 2019 | |
Impaired Assets to be Disposed of by Method Other than Sale, Carrying Value of Asset | $ 75,234 | $ 1,308 | $ 75,234 | $ 1,308 | ||
Proceeds from Sales of Assets, Investing Activities | 5,400 | 0 | ||||
Gain (Loss) on Disposition of Property Plant Equipment, Total | (69,834) | $ (1,308) | ||||
Property, Plant and Equipment, Net, Ending Balance | 720,701 | 720,701 | $ 729,142 | |||
Reclassification of Prepaid Expenses to Leasehold Improvements [Member] | ||||||
Prepaid Expense | $ (299,268) | |||||
Leasehold Improvements [Member] | ||||||
Property, Plant and Equipment, Net, Ending Balance | $ 366,798 | $ 366,798 | $ 218,844 | |||
Leasehold Improvements [Member] | Reclassification of Prepaid Expenses to Leasehold Improvements [Member] | ||||||
Property, Plant and Equipment, Net, Ending Balance | $ 299,268 |
Note 6 - Property and Equipme_4
Note 6 - Property and Equipment - Property and Equipment (Details) - USD ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2020 | Dec. 31, 2019 | |
Cost, Beginning Balance | $ 1,275,796 | $ 987,493 |
Cost, Additions | 299,268 | 290,513 |
Cost, Disposals | (164,117) | (2,210) |
Cost, Ending Balance | 1,410,947 | 1,275,796 |
Accumulated Depreciation, Beginning Balance | 546,654 | 270,405 |
Accumulated Depreciation, Depreciation | 232,475 | 277,150 |
Accumulated Depreciation, Disposals | (88,883) | (901) |
Accumulated Depreciation, Ending Balance | 690,246 | 546,654 |
Property, Plant and Equipment, Net, Ending Balance | 720,701 | 729,142 |
Computer Equipment [Member] | ||
Cost, Beginning Balance | 385,868 | 170,002 |
Cost, Additions | 218,076 | |
Cost, Disposals | (9,933) | (2,210) |
Cost, Ending Balance | 375,935 | 385,868 |
Accumulated Depreciation, Beginning Balance | 192,434 | 104,918 |
Accumulated Depreciation, Depreciation | 65,330 | 88,417 |
Accumulated Depreciation, Disposals | (2,849) | (901) |
Accumulated Depreciation, Ending Balance | 254,915 | 192,434 |
Property, Plant and Equipment, Net, Ending Balance | 121,020 | 193,434 |
Furniture and Fixtures [Member] | ||
Cost, Beginning Balance | 185,294 | 181,879 |
Cost, Additions | 3,415 | |
Cost, Disposals | (64,018) | |
Cost, Ending Balance | 121,276 | 185,294 |
Accumulated Depreciation, Beginning Balance | 56,202 | 29,585 |
Accumulated Depreciation, Depreciation | 13,333 | 26,617 |
Accumulated Depreciation, Disposals | (28,505) | |
Accumulated Depreciation, Ending Balance | 41,030 | 56,202 |
Property, Plant and Equipment, Net, Ending Balance | 80,246 | 129,092 |
Laboratory Equipment [Member] | ||
Cost, Beginning Balance | 355,987 | 352,637 |
Cost, Additions | 3,350 | |
Cost, Disposals | (13,712) | |
Cost, Ending Balance | 342,275 | 355,987 |
Accumulated Depreciation, Beginning Balance | 168,215 | 99,696 |
Accumulated Depreciation, Depreciation | 52,267 | 68,519 |
Accumulated Depreciation, Disposals | (30,843) | |
Accumulated Depreciation, Ending Balance | 189,639 | 168,215 |
Property, Plant and Equipment, Net, Ending Balance | 152,636 | 187,772 |
Leasehold Improvements [Member] | ||
Cost, Beginning Balance | 348,647 | 282,975 |
Cost, Additions | 299,268 | 65,672 |
Cost, Disposals | (76,455) | |
Cost, Ending Balance | 571,460 | 348,647 |
Accumulated Depreciation, Beginning Balance | 129,803 | 36,206 |
Accumulated Depreciation, Depreciation | 101,545 | 93,597 |
Accumulated Depreciation, Disposals | (26,686) | |
Accumulated Depreciation, Ending Balance | 204,662 | 129,803 |
Property, Plant and Equipment, Net, Ending Balance | $ 366,798 | $ 218,844 |
Note 7 - Intangible Assets - Fi
Note 7 - Intangible Assets - Finite-lived Intangible Assets (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Cost, Beginning Balance | $ 552,798 | $ 21,379 | $ 21,379 | ||
Cost, Additions | 613 | 531,419 | |||
Cost, Ending Balance | $ 553,411 | 553,411 | 552,798 | ||
Accumulated Amortization, Beginning Balance | 9,403 | 8,321 | 8,321 | ||
Accumulated Amortization, Amortization | 45,399 | $ 273 | 135,425 | 810 | 1,082 |
Accumulated Amortization, Ending Balance | 144,828 | 144,828 | 9,403 | ||
Net Book Value | 408,583 | 408,583 | 543,395 | ||
Computer Software, Intangible Asset [Member] | |||||
Cost, Beginning Balance | 5,143 | 5,143 | 5,143 | ||
Cost, Additions | |||||
Cost, Ending Balance | 5,143 | 5,143 | 5,143 | ||
Accumulated Amortization, Beginning Balance | 5,143 | 5,143 | 5,143 | ||
Accumulated Amortization, Amortization | |||||
Accumulated Amortization, Ending Balance | 5,143 | 5,143 | 5,143 | ||
Net Book Value | |||||
Trademarks [Member] | |||||
Cost, Beginning Balance | 16,236 | 16,236 | 16,236 | ||
Cost, Additions | |||||
Cost, Ending Balance | 16,236 | 16,236 | 16,236 | ||
Accumulated Amortization, Beginning Balance | 4,260 | 3,178 | 3,178 | ||
Accumulated Amortization, Amortization | 820 | 1,082 | |||
Accumulated Amortization, Ending Balance | 5,080 | 5,080 | 4,260 | ||
Net Book Value | 11,156 | 11,156 | 11,976 | ||
Website [Member] | |||||
Cost, Beginning Balance | 531,419 | ||||
Cost, Additions | 613 | 531,419 | |||
Cost, Ending Balance | 532,032 | 532,032 | 531,419 | ||
Accumulated Amortization, Beginning Balance | |||||
Accumulated Amortization, Amortization | 134,605 | ||||
Accumulated Amortization, Ending Balance | 134,605 | 134,605 | |||
Net Book Value | $ 397,427 | $ 397,427 | $ 531,419 |
Note 7 - Intangible Assets - Es
Note 7 - Intangible Assets - Estimated Future Amortization of Intangible (Details) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 |
2020 | $ 46,009 | |
2021 | 180,144 | |
2022 | 180,144 | |
2023 | 1,089 | |
2024 | 1,089 | |
2025 | 108 | |
Total | $ 408,583 | $ 543,395 |
Note 8 - Leases (Details Textua
Note 8 - Leases (Details Textual) | Feb. 01, 2020USD ($) | Jan. 01, 2019USD ($) | Sep. 30, 2020USD ($) | Sep. 30, 2019USD ($) | Sep. 30, 2020USD ($) | Sep. 30, 2019USD ($) | Dec. 31, 2019USD ($) |
Number of Lease Agreements | 2 | ||||||
Operating Lease, Right-of-Use Asset, Amortization Expense | $ 0 | $ 127,345 | $ 42,448 | $ 382,035 | |||
Increase (Decrease) in Prepaid Rent | 1,002,113 | ||||||
Operating Lease, Impairment Loss | 59,097 | ||||||
Operating Lease, Right-of-Use Asset | 1,380,744 | 1,380,744 | $ 1,103,658 | ||||
General and Administrative Expense [Member] | |||||||
Operating Lease, Expense | 0 | 4,331 | |||||
Lease Agreement with Wickfield Phoenix LLC [Member] | |||||||
Lessee, Operating Lease, Term of Contract (Month) | 5 years | ||||||
Operating Lease, Right-of-Use Asset | $ 1,553,611 | ||||||
Lessee, Operating Lease, Discount Rate | 12.00% | ||||||
Operating Lease, Expense | 103,375 | 7,603 | 279,997 | 19,483 | |||
Lease Agreement with Wickfield Phoenix LLC [Member] | Research and Development Expense [Member] | |||||||
Operating Lease, Expense | 17,229 | 0 | 56,221 | 0 | |||
Lease Agreement with Wickfield Phoenix LLC [Member] | General and Administrative Expense [Member] | |||||||
Operating Lease, Expense | $ 86,146 | $ 7,603 | $ 223,776 | $ 19,483 | |||
Lease Agreement with Wickfield Phoenix LLC [Member] | Minimum [Member] | |||||||
Monthly Rent Payment | $ 32,452 | ||||||
Lease Agreement with Wickfield Phoenix LLC [Member] | Maximum [Member] | |||||||
Monthly Rent Payment | 36,525 | ||||||
Lease Cancellation [Member] | |||||||
Increase (Decrease) in Prepaid Rent | 1,002,113 | ||||||
Operating Lease, Right-of-Use Asset, Lease Cancellation | 1,061,210 | ||||||
Operating Lease, Impairment Loss | $ 59,097 | ||||||
Accounting Standards Update 2016-02 [Member] | |||||||
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | $ 1,613,038 |
Note 8 - Leases - Right of Use
Note 8 - Leases - Right of Use Asset and Lease Liabilities (Details) - USD ($) | 9 Months Ended | |
Sep. 30, 2020 | Dec. 31, 2019 | |
Aggregate lease commitments | $ 2,067,505 | |
Less: impact of present value | (513,894) | |
Balance at September 30, 2020 | 1,553,611 | |
Straight line amortization | 275,667 | |
Interest | (102,800) | |
Balance at September 30, 2020 | 172,867 | |
September 30, 2020 | 1,380,744 | $ 1,103,658 |
Additions | 1,553,611 | |
Payments | (259,616) | |
Interest | 102,800 | |
Total lease liabilities at September 30, 2020 | 1,396,795 | |
Current portion of lease liabilities | 242,491 | |
Long term portion of lease liabilities | $ 1,154,304 |
Note 8 - Leases - Remaining Und
Note 8 - Leases - Remaining Undiscounted Lease Liabilities (Details) | Sep. 30, 2020USD ($) |
2020 | $ 97,357 |
2021 | 400,133 |
2022 | 412,137 |
2023 | 424,501 |
2024 | 437,236 |
2025 | 36,525 |
Total | $ 1,807,889 |
Note 9 - Loan Arrangements (Det
Note 9 - Loan Arrangements (Details Textual) - USD ($) | Oct. 17, 2017 | Apr. 30, 2020 | Sep. 30, 2020 |
Loan Arrangement With Shareholder [Member] | |||
Debt Agreement, Maximum Borrowing Capacity | $ 5,000,000 | ||
Debt Instrument, Term (Year) | 5 years | ||
Debt Agreement, Minimum Borrowing Per Advances | $ 250,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 14.00% | ||
Long-term Debt, Total | $ 0 | ||
Paycheck Protection Program CARES Act [Member] | |||
Proceeds from Short-term Debt, Total | $ 527,360 |
Note 10 - Preferred Stock (Deta
Note 10 - Preferred Stock (Details Textual) - $ / shares | Sep. 30, 2020 | Dec. 31, 2019 |
Preferred Stock, Shares Authorized (in shares) | 20 | 20 |
Series 1 Preferred Shares [Member] | ||
Preferred Stock, Shares Authorized (in shares) | 20 | |
Preferred Stock, Stated Value Per Share (in dollars per share) | $ 1,000,000 | |
Net Sales Payments, Percentage of Sales | 9.00% |
Note 10 - Preferred Stock - Iss
Note 10 - Preferred Stock - Issued and Outstanding Preferred Stock (Details) - USD ($) | 12 Months Ended | |||
Dec. 31, 2019 | Sep. 30, 2020 | Dec. 31, 2018 | ||
Balance, number (in shares) | 12 | 12 | ||
Balance, amount | $ 11,961,397 | $ 11,961,397 | ||
Series 1 Preferred Shares [Member] | ||||
Balance, number (in shares) | 12 | 12 | ||
Balance, amount | $ 11,961,397 | $ 11,961,397 | ||
Stock issued from financing, number (in shares) | [1] | 12 | ||
Stock issued from financing, amount | [1] | $ 11,961,397 | ||
[1] | On May 9, 2019, the Company entered into subscription agreements to sell $12,000,000 of its Series 1 Preferred Shares to an accredited investor in a private placement at a purchase price of $1,000,000 per Series 1 Preferred Share; $5,000,000 of the purchase price was paid on May 9, 2019 and the remaining $7,000,000 was paid on June 7, 2019. The Company recorded $38,603 of share issuance costs as an offset to preferred stock in the year ended December 31, 2019. |
Note 11 - Common Stock (Details
Note 11 - Common Stock (Details Textual) - USD ($) | Jul. 07, 2020 | May 29, 2020 | Apr. 09, 2020 | Feb. 14, 2020 | Mar. 28, 2019 | Jan. 14, 2019 | Jul. 31, 2020 | Jun. 30, 2020 | Feb. 29, 2020 | Dec. 31, 2018 | Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 |
Gain (Loss) on Settlement of Liabilities | $ 19,737 | |||||||||||||
Research and Development Expense, Total | 2,702,103 | 962,463 | 7,205,674 | 9,555,345 | ||||||||||
Payments of Stock Issuance Costs | 2,268,217 | 1,414 | 5,107,615 | 627,681 | ||||||||||
Proceeds from Issuance of Common Stock | 29,997,500 | $ 56,496,283 | 3,000,000 | |||||||||||
Class of Warrant or Right, Issued During Period (in shares) | 280,005,613 | |||||||||||||
Issuance of Common Shares and Warrants, Direct Costs of Issuance | $ 2,268,215 | $ 1,908,202 | $ 582,977 | $ 348,220 | $ 5,107,615 | |||||||||
Adjustments to Equity, Warrant Issued | ||||||||||||||
Stock Issued During Period, Shares, Exercise of Warrants and Pre-funded Warrants (in shares) | 24,984,492 | 12,162,492 | ||||||||||||
Proceeds from Warrant Exercises | $ 863,550 | 12,155,409 | $ 600,000 | |||||||||||
Common Stock [Member] | ||||||||||||||
Issuance of Common Shares and Warrants, Direct Costs of Issuance | 1,224,218 | 1,088,876 | 428,283 | 238,217 | 2,979,594 | |||||||||
Adjustments to Equity, Warrant Issued | $ (154,767) | |||||||||||||
Stock Issued During Period, Shares, Exercise of Warrants and Pre-funded Warrants (in shares) | 118,183,039 | |||||||||||||
Additional Paid-in Capital [Member] | ||||||||||||||
Issuance of Common Shares and Warrants, Direct Costs of Issuance | $ 1,043,997 | $ 819,327 | $ 154,694 | 110,003 | $ 2,128,021 | |||||||||
Adjustments to Equity, Warrant Issued | $ 154,767 | |||||||||||||
Series A Warrants [Member] | ||||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1 | |||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 20,833,334 | |||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.20 | |||||||||||||
Class of Warrant or Right, Period Exerciseable (Month) | 180 days | |||||||||||||
Warrants and Rights Outstanding, Term (Year) | 5 years 182 days | |||||||||||||
Class of Warrant or Right, Issued During Period (in shares) | 20,833,334 | |||||||||||||
Class of Warrant or Right, Issued During Period, Value | $ 794,345 | |||||||||||||
Placement Agent Warrants [Member] | ||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 1,666,667 | 1,041,667 | ||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.15 | $ 0.15 | ||||||||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | 5 years | ||||||||||||
Class of Warrant or Right, Issued During Period (in shares) | 1,666,667 | 1,041,667 | ||||||||||||
Adjustments to Equity, Warrant Issued | $ 161,714 | 52,496 | ||||||||||||
Placement Agent Warrants [Member] | Common Stock [Member] | ||||||||||||||
Adjustments to Equity, Warrant Issued | 118,951 | 35,816 | ||||||||||||
Placement Agent Warrants [Member] | Additional Paid-in Capital [Member] | ||||||||||||||
Adjustments to Equity, Warrant Issued | $ 42,763 | $ 16,680 | ||||||||||||
Series B Warrant [Member] | ||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 16,666,667 | |||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.15 | |||||||||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | |||||||||||||
Proceeds from Issuance of Warrants | $ 1,057,752 | |||||||||||||
Class of Warrant or Right, Exercised During Period (in shares) | 11,602,084 | |||||||||||||
Proceeds from Warrant Exercises | $ 1,740,313 | |||||||||||||
Series C Warrants [Member] | ||||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1 | |||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 133,333,333 | |||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.15 | |||||||||||||
Warrants and Rights Outstanding, Term (Year) | 2 years | |||||||||||||
Class of Warrant or Right, Issued During Period (in shares) | 133,333,333 | |||||||||||||
Proceeds from Issuance of Warrants | $ 7,582,072 | |||||||||||||
Class of Warrant or Right, Exercised During Period (in shares) | 69,433,971 | |||||||||||||
Proceeds from Warrant Exercises | $ 10,415,096 | |||||||||||||
Pre-funded Warrants [Member] | ||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.0001 | $ 0.0001 | ||||||||||||
Class of Warrant or Right, Issued During Period (in shares) | 25,000,000 | 12,170,000 | ||||||||||||
Proceeds from Issuance of Warrants | $ 2,329,983 | $ 1,080,289 | ||||||||||||
Public Offering with One Pre-funded Warrant and One Series C Warrant [Member] | ||||||||||||||
Offering Price (in dollars per share) | $ 0.1499 | |||||||||||||
Series D Warrant [Member] | ||||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1 | |||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 187,500,000 | |||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.16 | |||||||||||||
Warrants and Rights Outstanding, Term (Year) | 2 years | |||||||||||||
Proceeds from Issuance of Warrants | $ 11,376,575 | |||||||||||||
Private Placement [Member] | ||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 2,815,789 | |||||||||||||
Proceeds from Issuance of Private Placement | $ 4,280,000 | |||||||||||||
Payments of Stock Issuance Costs | $ 465 | |||||||||||||
Public Offering [Member] | ||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 162,500,000 | 121,163,333 | 6,521,740 | |||||||||||
Payments of Stock Issuance Costs | $ 592,707 | |||||||||||||
Proceeds from Issuance of Common Stock | 2,942,248 | $ 3,000,000 | ||||||||||||
Shares Issued, Number of Common Shares Per Share (in shares) | 1 | 1 | ||||||||||||
Proceeds from Issuance or Sale of Equity, Total | $ 29,997,500 | $ 19,998,783 | $ 4,000,000 | |||||||||||
Stock Issued During Period, Value, New Issues | $ 16,290,941 | $ 11,336,422 | ||||||||||||
Stock and Warrants Issued During Period, Shares, New Issues (in shares) | 33,333,334 | |||||||||||||
Offering Price (in dollars per share) | $ 0.12 | |||||||||||||
Registered Direct Offering [Member] | ||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 20,833,334 | |||||||||||||
Shares Issued, Number of Common Shares Per Share (in shares) | 1 | |||||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ 0.12 | |||||||||||||
Proceeds from Issuance or Sale of Equity, Total | $ 2,500,000 | |||||||||||||
Stock Issued During Period, Value, New Issues | $ 1,705,655 | |||||||||||||
Series B Warrant [Member] | ||||||||||||||
Class of Warrant or Right, Issued During Period (in shares) | 16,666,667 | |||||||||||||
Public Offering with One Common Share and One Series C Warrant [Member] | ||||||||||||||
Offering Price (in dollars per share) | $ 0.15 | |||||||||||||
Public Offering With One Common Share and One Series D Warrant [Member] | ||||||||||||||
Offering Price (in dollars per share) | $ 0.16 | |||||||||||||
Public Offering With One Pre-funded Warrant and One Series D Warrant [Member] | ||||||||||||||
Offering Price (in dollars per share) | $ 0.1599 | |||||||||||||
One Creditor [Member] | ||||||||||||||
Debt Conversion, Converted Instrument, Amount | $ 75,000 | |||||||||||||
Common Stock, Number of Shares, Issued (in shares) | 49,342 | |||||||||||||
Common Stock, Value, Issued | $ 55,263 | |||||||||||||
Gain (Loss) on Settlement of Liabilities | $ 19,737 | |||||||||||||
Celsee [Member] | ||||||||||||||
Common Stock, Number of Shares, Issued (in shares) | 657,894 | |||||||||||||
Common Stock, Value, Issued | $ 1,000,000 | |||||||||||||
Research and Development Expense, Total | $ 736,841 |
Note 11 - Common Stock - Issued
Note 11 - Common Stock - Issued and Outstanding Common Shares (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | ||||
Number of common shares (in shares) | 108,308,398 | ||||||
Stock issuance for services | $ 56,496,283 | $ 792,104 | |||||
Stock issued from financing | $ 14,372,319 | ||||||
Stock issued due to exercise of options (in shares) | 0 | 0 | 0 | 394,735 | |||
Stock issued due to exercise of options | $ 600,000 | ||||||
Number of common shares (in shares) | 564,051,438 | 564,051,438 | |||||
Common Stock [Member] | |||||||
Number of common shares (in shares) | 108,038,398 | 97,598,898 | |||||
Capital stock | $ 38,566,820 | $ 30,410,648 | |||||
Stock issuance for services (in shares) | 337,830,001 | 707,236 | [1],[2] | ||||
Stock issuance for services | $ 32,275,266 | $ 792,104 | [1],[2] | ||||
Stock issued from financing (in shares) | 337,830,001 | [3],[4],[5],[6] | 9,337,529 | [7],[8] | |||
Stock issued from financing | $ 29,140,905 | [3],[4],[5],[6] | $ 6,690,922 | [7],[8] | |||
Stock issued due to exercise of options (in shares) | 394,735 | ||||||
Stock issued due to exercise of options | $ 754,148 | ||||||
Stock issued from the financing and exercise of prefunded warrants (viii) (in shares) | [5] | 37,146,984 | |||||
Stock issued from the financing and exercise of prefunded warrants (viii) | [5] | $ 3,410,276 | |||||
Stock issued from the exercise of warrants (in shares) | [9],[10] | 81,036,055 | |||||
Stock issued from the exercise of warrants | [9],[10] | $ 16,840,136 | |||||
Number of common shares (in shares) | 564,051,438 | 108,038,398 | 564,051,438 | 108,038,398 | |||
Capital stock | $ 87,958,137 | $ 38,647,822 | $ 87,958,137 | $ 38,647,822 | |||
[1] | On January 14, 2019, the Company issued 657,894 common shares in satisfaction of $1,000,000 of all remaining milestones under a License and Supply Agreement with a third party. The Company recognized $736,841 as research and development expense, based on the value of the common stock on the date of issuance. | ||||||
[2] | On January 14, 2019, the Company settled $75,000 of amounts due to a vendor by issuing 49,342 common shares valued at $55,263 at the date of issuance. The Company recorded a $19,737 gain on the settlement of liabilities. | ||||||
[3] | On April 9, 2020 the Company completed a confidentially marketed public offering ("CMPO") of its common shares and warrants ("Series B Warrants") of 33,333,334 common shares and warrants to purchase up to 16,666,667 common shares. The securities were sold in a fixed combination of one common share and 0.5 of a Series B Warrant at a combined offering price of $0.12 per share and accompanying warrant. Each whole warrant is exercisable immediately for one common share after issuance, at an exercise price of $0.15 per share and has a term of 5 years. The Company also issued warrants to the placement agents to purchase 1,666,667 common shares at an exercise price of $0.15 per share ("Series B Placement Agent Warrants"), which were exercisable immediately upon issuance and have a term of 5 years. In aggregate, the Company issued 33,333,334 common shares,16,666,667 Series B Warrants, and an additional 1,666,667 Series B Placement Agent Warrants. The Company raised $4,000,000 in gross proceeds in the CMPO. The Company recorded $2,942,248 as the value of common shares under common stock and $1,057,752 as the value of Series B Warrants under additional paid-in-capital in the consolidated statements of shareholders' equity. The direct cash costs related to the issuance of the common shares and warrants issued in April were $582,977. These direct costs were recorded as an offset against the statement of shareholders' equity with $428,283 being recorded under capital stock and $154,694 being recorded under additional paid-in-capital. The Company also recorded the value of the Series B Placement Agent Warrants in the amount of $161,714 as an offset against the statement of shareholders' equity, with $118,951 being recorded under capital stock and $42,763 being recorded under additional paid-in-capital. | ||||||
[4] | On February 14, 2020, the Company completed a registered direct offering ("RDO") of its common shares and a simultaneous private placement of its warrants ("Series A Warrants") in a fixed combination of one common share and a Series A Warrant to purchase one common share, resulting in the sale of 20,833,334 common shares and Series A Warrants to purchase 20,833,334 common shares at a combined offering price of $0.12 per share and related Series A Warrant. Each Series A Warrant has an exercise price of $0.20 per share, is exercisable six months after issuance and has a term of 5- and one-half years. The Company also issued warrants to the placement agents to purchase 1,041,667 common shares at an exercise price of $0.15 per share ("Series A Placement Agent Warrants"), which were exercisable immediately upon issuance and have a term of 5 years. In aggregate, the Company issued 20,833,334 common shares, 20,833,334 Series A Warrants, in and an additional 1,041,667 Series A Placement Agent Warrants. The Company raised $2,500,000 in gross proceeds as part of the RDO. The Company recorded $1,705,655 as the value of common shares under common stock and $794,345 as the value of Series A Warrants under additional paid-in-capital in the consolidated statements of shareholders' equity. The direct cash costs related to the issuance of the common shares and warrants issued in February 2020 were $348,220. These direct costs were recorded as an offset against the statement of shareholders' equity with $238,217 being recorded under capital stock and $110,003 being recorded under additional paid-in-capital. The Company also recorded the value of the Series A Placement Agent Warrants in the amount of $52,496 as an offset against the statement of shareholders' equity with $35,816 being recorded under capital stock and $16,680 being recorded under additional paid-in-capital. | ||||||
[5] | On July 7, 2020 the Company completed a public offering of its common shares or common share equivalents ("Series D Pre-Funded Warrants"), and warrants ("Series D Warrants") in a fixed combination of one common share or Series D Pre-Funded warrant, and a Series D Warrant to purchase one common share, resulting in the sale of 162,500,000 common shares, 25,000,000 Series D Pre-Funded Warrants, and Series D Warrants to purchase 187,500,000 common shares at a combined offering price of $0.16 per share for the common shares and related Series D Warrant, or a combined offering price of $0.1599 per Series D Pre-Funded warrant and related Series D Warrant. Each Series D Pre-Funded warrant has an exercise price of $0.0001 per share, is exercisable immediately after issuance, is exercisable only on a cashless exercise basis, and will not expire prior to exercise. Each Series D Warrant has an exercise price of $0.16 per share, is exercisable immediately after issuance, and has a term of 2 years. The Company raised $29,997,500 in gross proceeds as part of the public offering. The Company recorded $16,290,941 as the value of common shares under common stock, $2,329,983 as the value of the Series D Pre-Funded Warrants and $11,376,575 as the value of the Series D Warrants under additional paid-in-capital in the consolidated statements of shareholders' equity. The direct cash costs related to the issuance of the common shares, Series D Pre-Funded Warrants and Series D Warrants issued in July 2020 were $2,268,215. These direct costs were recorded as an offset against the statement of shareholders' equity with $1,224,218 being recorded under capital stock and $1,043,997 being recorded under additional paid-in-capital. | ||||||
[6] | On May 29, 2020 the Company completed a public offering of its common shares or common share equivalents ("Series C Pre-Funded Warrants"), and warrants ("Series C Warrants") in a fixed combination of one common share or Series C Pre-Funded Warrant, and a Series C Warrant to purchase one common share, resulting in the sale of 121,163,333 common shares, 12,170,000 Series C Pre-Funded Warrants, and Series C Warrants to purchase 133,333,333 common shares at a combined offering price of $0.15 per share for the common shares and related Series C Warrant, or a combined offering price of $0.1499 per Pre-Funded Warrant and related Series C Warrant. Each Series C Pre-Funded Warrant has an exercise price of $0.0001 per share, is exercisable immediately after issuance, is exercisable only on a cashless exercise basis, and will not expire prior to exercise. Each Series C Warrant has an exercise price of $0.15 per share, is exercisable immediately after issuance and has a term of 2 years. The Company raised $19,998,783 in gross proceeds as part of the public offering. The Company recorded $11,336,422 as the value of common shares under common stock, $1,080,289 as the value of the Series C Pre-Funded Warrants and $7,582,072 as the value of Series C Warrants under additional paid-in-capital in the consolidated statements of shareholders' equity. The direct cash costs related to the issuance of the common shares, Series C Pre-Funded Warrants and Series C Warrants issued in May 2020 were $1,908,202. These direct costs were recorded as an offset against the statement of shareholders' equity with $1,088,876 being recorded under capital stock and $819,327 being recorded under additional paid-in-capital. | ||||||
[7] | On January 14, 2019, the Company completed a non-brokered private placement, and issued 2,815,789 common shares. Gross proceeds of $4,280,000 were received prior to December 31, 2018. The Company recorded $465 of share issuance costs as an offset to common stock. | ||||||
[8] | On March 28, 2019, the Company completed an underwritten public offering of its common stock pursuant to which the Company sold an aggregate 6,521,740 common shares for gross proceeds of $3,000,000. The Company recorded $592,707 of share issuance costs as an offset to common stock. | ||||||
[9] | All Series C Pre-Funded Warrants were exercised in June 2020. Upon exercise, the value of the warrant exercises was based on the one-day VWAP (define) of the Company stock the day before the exercise request date. The cashless exercise option resulted in the issuance of 12,162,492 shares. | ||||||
[10] | As of September 30, 2020, 11,602,084 Series B Warrants have been exercised, resulting in additional cash proceeds of $1,740,313, and 69,433,971 Series C Warrants have been exercised, resulting in additional cash proceeds of $10,415,096. |
Note 12 - Stock-based Compens_3
Note 12 - Stock-based Compensation (Details Textual) - USD ($) | Sep. 29, 2020 | Aug. 25, 2020 | Jul. 09, 2020 | Jun. 16, 2020 | Mar. 14, 2020 | Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares) | 0 | 0 | 0 | 394,735 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 300,000 | 40,000 | 175,000 | 2,000,000 | 5,056,000 | 515,000 | 1,500,000 | 7,571,000 | 7,495,000 |
Share-based Payment Arrangement, Expense | $ 187,969 | $ 197,988 | $ 478,835 | $ 2,539,092 | |||||
Proceeds from Stock Options Exercised | $ 0 | $ 0 | $ 0 | 600,000 | |||||
Stock Issued During Period, Value, Stock Options Exercised | $ 600,000 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Total (in shares) | 0 | 0 | 0 | 0 | |||||
Additional Paid-in Capital [Member] | |||||||||
Stock Issued During Period, Value, Stock Options Exercised | $ 0 | $ (154,148) |
Note 12 - Stock-based Compens_4
Note 12 - Stock-based Compensation - Issuance of Stock Options (Details) - $ / shares | Sep. 29, 2020 | Sep. 25, 2020 | Aug. 25, 2020 | Aug. 19, 2020 | Aug. 14, 2020 | Aug. 02, 2020 | Jul. 31, 2020 | Jul. 21, 2020 | Jul. 20, 2020 | Jul. 09, 2020 | Jun. 16, 2020 | Jun. 11, 2020 | May 07, 2020 | May 05, 2020 | Apr. 21, 2020 | Mar. 14, 2020 | Mar. 01, 2020 | Feb. 25, 2020 | Jan. 23, 2020 | May 04, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 |
Number of Options, Options Outstanding (in shares) | 13,024,640 | 13,024,640 | 7,040,265 | ||||||||||||||||||||||
Weighted Avg Exercise Price, Options Outstanding (in dollars per share) | $ 0.72 | $ 0.72 | $ 1.28 | ||||||||||||||||||||||
Stock options forfeited (in shares) | (37,500) | (75,375) | (675,000) | (10,000) | (3,750) | (400,000) | (15,000) | (15,000) | (30,000) | (150,000) | (50,000) | (5,000) | (50,000) | (15,000) | |||||||||||
Weighted Avg Exercise Price, Options Forfeited (in dollars per share) | $ 0.19 | $ 0.19 | $ 0.19 | $ 1.52 | $ 0.19 | $ 1.52 | $ 1.52 | $ 1.52 | $ 1.52 | $ 0.19 | $ 1.52 | $ 1.12 | $ 1.52 | $ 0.19 | |||||||||||
Number of Options, Options Granted (in shares) | 300,000 | 40,000 | 175,000 | 2,000,000 | 5,056,000 | 515,000 | 1,500,000 | 7,571,000 | 7,495,000 | ||||||||||||||||
Weighted Avg Exercise Price, Options Granted (in dollars per share) | $ 0.11 | $ 0.13 | $ 0.18 | $ 0.19 | $ 0.19 | ||||||||||||||||||||
Vested at September 30, 2020 (in shares) | 9,136,348 | 9,136,348 | |||||||||||||||||||||||
Weighted Avg Exercise Price, Vested at September 30, 2020 (in dollars per share) | $ 0.95 | $ 0.95 | |||||||||||||||||||||||
Options 2 [Member] | |||||||||||||||||||||||||
Stock options forfeited (in shares) | (5,000) | (50,000) | |||||||||||||||||||||||
Weighted Avg Exercise Price, Options Forfeited (in dollars per share) | $ 0.19 | $ 0.19 |
Note 12 - Stock-based Compens_5
Note 12 - Stock-based Compensation - Details of the Issued Stock Options (Details) - $ / shares | Sep. 29, 2020 | Aug. 25, 2020 | Jul. 09, 2020 | Jun. 16, 2020 | Mar. 14, 2020 | Sep. 30, 2020 | Dec. 31, 2019 |
Weighted Avg Exercise Price, Options Granted (in dollars per share) | $ 0.11 | $ 0.13 | $ 0.18 | $ 0.19 | $ 0.19 | ||
Number of Options, Options Outstanding (in shares) | 13,024,640 | 7,040,265 | |||||
Number of Vested Options (in shares) | 9,136,349 | ||||||
Number of unvested options outstanding (in shares) | 3,888,291 | ||||||
Vested at September 30, 2020 (in shares) | 9,136,348 | ||||||
January 10, 2019 [Member] | Options 1 [Member] | |||||||
Weighted Avg Exercise Price, Options Granted (in dollars per share) | $ 1.52 | ||||||
Number of Options, Options Outstanding (in shares) | 4,965,265 | ||||||
Number of Vested Options (in shares) | 4,965,265 | ||||||
Number of unvested options outstanding (in shares) | |||||||
Weighted Avg Remaining Life (Year) | 102 days | ||||||
August 19, 2019 [Member] | Options 2 [Member] | |||||||
Weighted Avg Exercise Price, Options Granted (in dollars per share) | $ 0.26 | ||||||
Number of Options, Options Outstanding (in shares) | 500,000 | ||||||
Number of Vested Options (in shares) | 500,000 | ||||||
Number of unvested options outstanding (in shares) | |||||||
Weighted Avg Remaining Life (Year) | 321 days | ||||||
August 19, 2019 [Member] | Options 3 [Member] | |||||||
Weighted Avg Exercise Price, Options Granted (in dollars per share) | $ 0.35 | ||||||
Number of Options, Options Outstanding (in shares) | 100,000 | ||||||
Number of Vested Options (in shares) | 100,000 | ||||||
Number of unvested options outstanding (in shares) | |||||||
Weighted Avg Remaining Life (Year) | 321 days | ||||||
August 19, 2019 [Member] | Options 4 [Member] | |||||||
Weighted Avg Exercise Price, Options Granted (in dollars per share) | $ 0.45 | ||||||
Number of Options, Options Outstanding (in shares) | 100,000 | ||||||
Number of Vested Options (in shares) | 100,000 | ||||||
Number of unvested options outstanding (in shares) | |||||||
Weighted Avg Remaining Life (Year) | 321 days | ||||||
August 19, 2019 [Member] | Option 5 [Member] | |||||||
Weighted Avg Exercise Price, Options Granted (in dollars per share) | $ 0.55 | ||||||
Number of Options, Options Outstanding (in shares) | 100,000 | ||||||
Number of Vested Options (in shares) | 100,000 | ||||||
Number of unvested options outstanding (in shares) | |||||||
Weighted Avg Remaining Life (Year) | 321 days | ||||||
August 19, 2019 [Member] | Option 6 [Member] | |||||||
Weighted Avg Exercise Price, Options Granted (in dollars per share) | $ 0.65 | ||||||
Number of Options, Options Outstanding (in shares) | 100,000 | ||||||
Number of Vested Options (in shares) | 100,000 | ||||||
Number of unvested options outstanding (in shares) | |||||||
Weighted Avg Remaining Life (Year) | 321 days | ||||||
August 19, 2019 [Member] | Option 7 [Member] | |||||||
Weighted Avg Exercise Price, Options Granted (in dollars per share) | $ 0.75 | ||||||
Number of Options, Options Outstanding (in shares) | 100,000 | ||||||
Number of Vested Options (in shares) | 100,000 | ||||||
Number of unvested options outstanding (in shares) | |||||||
Weighted Avg Remaining Life (Year) | 321 days | ||||||
August 19, 2019 [Member] | Option 8 [Member] | |||||||
Number of unvested options outstanding (in shares) | |||||||
Weighted Avg Remaining Life (Year) | 350 days | ||||||
August 19, 2019 [Member] | Option 9 [Member] | |||||||
Weighted Avg Remaining Life (Year) | 4 years 164 days | ||||||
September 16, 2019 [Member] | Option 8 [Member] | |||||||
Weighted Avg Exercise Price, Options Granted (in dollars per share) | $ 0.43 | ||||||
Number of Options, Options Outstanding (in shares) | 500,000 | ||||||
Number of Vested Options (in shares) | 500,000 | ||||||
March 14, 2020 [Member] | Option 9 [Member] | |||||||
Weighted Avg Exercise Price, Options Granted (in dollars per share) | $ 0.19 | ||||||
Number of Options, Options Outstanding (in shares) | 4,044,375 | ||||||
Number of unvested options outstanding (in shares) | 2,835,375 | ||||||
Vested at September 30, 2020 (in shares) | 1,209,000 | ||||||
June 16, 2020 [Member] | Option 10 [Member] | |||||||
Weighted Avg Exercise Price, Options Granted (in dollars per share) | $ 0.19 | ||||||
Number of Options, Options Outstanding (in shares) | 2,000,000 | ||||||
Number of unvested options outstanding (in shares) | 666,666 | ||||||
Weighted Avg Remaining Life (Year) | 4 years 259 days | ||||||
Vested at September 30, 2020 (in shares) | 1,333,334 | ||||||
July 9, 2020 [Member] | Option 11 [Member] | |||||||
Weighted Avg Exercise Price, Options Granted (in dollars per share) | $ 0.18 | ||||||
Number of Options, Options Outstanding (in shares) | 175,000 | ||||||
Number of unvested options outstanding (in shares) | 131,250 | ||||||
Weighted Avg Remaining Life (Year) | 4 years 284 days | ||||||
Vested at September 30, 2020 (in shares) | 43,750 | ||||||
August 25, 2020 [Member] | Option 12 [Member] | |||||||
Weighted Avg Exercise Price, Options Granted (in dollars per share) | $ 0.13 | ||||||
Number of Options, Options Outstanding (in shares) | 40,000 | ||||||
Number of unvested options outstanding (in shares) | 30,000 | ||||||
Weighted Avg Remaining Life (Year) | 4 years 328 days | ||||||
Vested at September 30, 2020 (in shares) | 10,000 | ||||||
September 29, 2020 [Member] | Option 13 [Member] | |||||||
Weighted Avg Exercise Price, Options Granted (in dollars per share) | $ 0.11 | ||||||
Number of Options, Options Outstanding (in shares) | 300,000 | ||||||
Number of unvested options outstanding (in shares) | 225,000 | ||||||
Weighted Avg Remaining Life (Year) | 5 years | ||||||
Vested at September 30, 2020 (in shares) | 75,000 |
Note 12 - Stock-based Compens_6
Note 12 - Stock-based Compensation - Valuation Assumptions for Fair Value of Options Granted (Details) - $ / shares | Sep. 29, 2020 | Aug. 25, 2020 | Jul. 09, 2020 | Jun. 16, 2020 | Mar. 14, 2020 |
Volatility | 100.00% | 99.00% | 100.00% | 100.00% | 87.00% |
Risk-free interest rate | 0.24% | 0.30% | 0.28% | 0.21% | 0.49% |
Expected life (years) (Year) | 5 years | 5 years | 5 years | 5 years | 5 years |
Divedend yield | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Common share price (in dollars per share) | $ 0.10 | $ 0.13 | $ 0.17 | $ 0.19 | $ 0.18 |
Strike price (in dollars per share) | $ 0.11 | $ 0.13 | $ 0.18 | $ 0.19 | $ 0.19 |
Note 13 - Warrants (Details Tex
Note 13 - Warrants (Details Textual) - $ / shares | Jul. 07, 2020 | May 29, 2020 | Apr. 09, 2020 | Feb. 14, 2020 |
Series A Warrants [Member] | ||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 20,833,334 | |||
Warrants and Rights Outstanding, Term (Year) | 5 years 182 days | |||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.20 | |||
Placement Agent Warrants [Member] | ||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 1,666,667 | 1,041,667 | ||
Warrants and Rights Outstanding, Term (Year) | 5 years | 5 years | ||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.15 | $ 0.15 | ||
Series B Warrant [Member] | ||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 16,666,667 | |||
Warrants and Rights Outstanding, Term (Year) | 5 years | |||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.15 | |||
Series C Warrants [Member] | ||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 133,333,333 | |||
Warrants and Rights Outstanding, Term (Year) | 2 years | |||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.15 | |||
Series C Pre-funded Warrants [Member] | ||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 12,170,000 | |||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.0001 | |||
Series D Warrant [Member] | ||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 187,500,000 | |||
Warrants and Rights Outstanding, Term (Year) | 2 years | |||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.16 | |||
Series D Pre-funded Warrants [Member] | ||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 25,000,000 | |||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.0001 |
Note 13 - Warrants - Details of
Note 13 - Warrants - Details of Outstanding Warrants (Details) | 9 Months Ended |
Sep. 30, 2020$ / sharesshares | |
Warrant Issued (in shares) | 280,005,613 |
Warrant One [Member] | |
Warrant, exercise price (in dollars per share) | $ / shares | $ 0.20 |
Warrant Issued (in shares) | 20,833,334 |
Warrants, weighted average remaining life (Year) | 4 years 317 days |
Warrant Two [Member] | |
Warrant, exercise price (in dollars per share) | $ / shares | $ 0.15 |
Warrant Issued (in shares) | 1,041,667 |
Warrants, weighted average remaining life (Year) | 4 years 135 days |
Warrant Three [Member] | |
Warrant, exercise price (in dollars per share) | $ / shares | $ 0.15 |
Warrant Issued (in shares) | 6,731,250 |
Warrants, weighted average remaining life (Year) | 4 years 193 days |
Warrant Four [Member] | |
Warrant, exercise price (in dollars per share) | $ / shares | $ 0.15 |
Warrant Issued (in shares) | 63,899,362 |
Warrants, weighted average remaining life (Year) | 1 year 240 days |
Warrant Five [Member] | |
Warrant, exercise price (in dollars per share) | $ / shares | $ 0.16 |
Warrant Issued (in shares) | 187,500,000 |
Warrants, weighted average remaining life (Year) | 1 year 281 days |
Note 13 - Warrants - Assumption
Note 13 - Warrants - Assumptions Used to Value Warrants at Grant Date (Details) | Jul. 07, 2020 | May 29, 2020 | Apr. 09, 2020 | Feb. 14, 2020 |
Measurement Input, Price Volatility [Member] | Series A Warrants [Member] | ||||
Fair value assumptions | 0.87 | |||
Measurement Input, Price Volatility [Member] | Placement Agent Warrants Issued With Series A Warrants [Member] | ||||
Fair value assumptions | 0.87 | |||
Measurement Input, Price Volatility [Member] | Series B Warrant [Member] | ||||
Fair value assumptions | 0.99 | |||
Measurement Input, Price Volatility [Member] | Placement Agent Warrants Issued With Series B Warrants [Member] | ||||
Fair value assumptions | 0.99 | |||
Measurement Input, Price Volatility [Member] | Series C Warrants [Member] | ||||
Fair value assumptions | 1.18 | |||
Measurement Input, Price Volatility [Member] | Series D Warrant [Member] | ||||
Fair value assumptions | 1.18 | |||
Measurement Input, Risk Free Interest Rate [Member] | Series A Warrants [Member] | ||||
Fair value assumptions | 0.0142 | |||
Measurement Input, Risk Free Interest Rate [Member] | Placement Agent Warrants Issued With Series A Warrants [Member] | ||||
Fair value assumptions | 0.0142 | |||
Measurement Input, Risk Free Interest Rate [Member] | Series B Warrant [Member] | ||||
Fair value assumptions | 0.0041 | |||
Measurement Input, Risk Free Interest Rate [Member] | Placement Agent Warrants Issued With Series B Warrants [Member] | ||||
Fair value assumptions | 0.0041 | |||
Measurement Input, Risk Free Interest Rate [Member] | Series C Warrants [Member] | ||||
Fair value assumptions | 0.0016 | |||
Measurement Input, Risk Free Interest Rate [Member] | Series D Warrant [Member] | ||||
Fair value assumptions | 0.0016 | |||
Measurement Input, Expected Term [Member] | Series A Warrants [Member] | ||||
Fair value assumptions | 5.5 | |||
Measurement Input, Expected Term [Member] | Placement Agent Warrants Issued With Series A Warrants [Member] | ||||
Fair value assumptions | 5 | |||
Measurement Input, Expected Term [Member] | Series B Warrant [Member] | ||||
Fair value assumptions | 5 | |||
Measurement Input, Expected Term [Member] | Placement Agent Warrants Issued With Series B Warrants [Member] | ||||
Fair value assumptions | 5 | |||
Measurement Input, Expected Term [Member] | Series C Warrants [Member] | ||||
Fair value assumptions | 2 | |||
Measurement Input, Expected Term [Member] | Series D Warrant [Member] | ||||
Fair value assumptions | 2 | |||
Measurement Input, Expected Dividend Rate [Member] | Series A Warrants [Member] | ||||
Fair value assumptions | 0 | |||
Measurement Input, Expected Dividend Rate [Member] | Placement Agent Warrants Issued With Series A Warrants [Member] | ||||
Fair value assumptions | 0 | |||
Measurement Input, Expected Dividend Rate [Member] | Series B Warrant [Member] | ||||
Fair value assumptions | 0 | |||
Measurement Input, Expected Dividend Rate [Member] | Placement Agent Warrants Issued With Series B Warrants [Member] | ||||
Fair value assumptions | 0 | |||
Measurement Input, Expected Dividend Rate [Member] | Series C Warrants [Member] | ||||
Fair value assumptions | 0 | |||
Measurement Input, Expected Dividend Rate [Member] | Series D Warrant [Member] | ||||
Fair value assumptions | 0 | |||
Measurement Input, Offered Price [Member] | Series A Warrants [Member] | ||||
Fair value assumptions | 0.12 | |||
Measurement Input, Offered Price [Member] | Placement Agent Warrants Issued With Series A Warrants [Member] | ||||
Fair value assumptions | 0.12 | |||
Measurement Input, Offered Price [Member] | Series B Warrant [Member] | ||||
Fair value assumptions | 0.14 | |||
Measurement Input, Offered Price [Member] | Placement Agent Warrants Issued With Series B Warrants [Member] | ||||
Fair value assumptions | 0.14 | |||
Measurement Input, Offered Price [Member] | Series C Warrants [Member] | ||||
Fair value assumptions | 0.16 | |||
Measurement Input, Offered Price [Member] | Series D Warrant [Member] | ||||
Fair value assumptions | 0.17 | |||
Measurement Input, Exercise Price [Member] | Series A Warrants [Member] | ||||
Fair value assumptions | 0.2 | |||
Measurement Input, Exercise Price [Member] | Placement Agent Warrants Issued With Series A Warrants [Member] | ||||
Fair value assumptions | 0.15 | |||
Measurement Input, Exercise Price [Member] | Series B Warrant [Member] | ||||
Fair value assumptions | 0.15 | |||
Measurement Input, Exercise Price [Member] | Placement Agent Warrants Issued With Series B Warrants [Member] | ||||
Fair value assumptions | 0.15 | |||
Measurement Input, Exercise Price [Member] | Series C Warrants [Member] | ||||
Fair value assumptions | 0.15 | |||
Measurement Input, Exercise Price [Member] | Series D Warrant [Member] | ||||
Fair value assumptions | 0.16 |
Note 14 - Commitments and Con_2
Note 14 - Commitments and Contingencies (Details Textual) - USD ($) | Feb. 19, 2020 | Sep. 12, 2019 | May 10, 2018 |
Qorvo Biotechnologies, LLC [Member] | |||
Development and Supply Agreement, Contingent on Achievement of Future Milestone, First Payment, Cash Only | $ 3,000,000 | ||
Development and Supply Agreement, Contingent on Achievement of Future Milestone, First Payment, Cash Portion | 1,500,000 | ||
Development and Supply Agreement, Contingent on Achievement of Future Milestone, First Payment, Equity Portion | 1,950,000 | ||
Development and Supply Agreement, Contingent on Achievement of Future Milestone, Second Payment, Cash Only | $ 2,000,000 | ||
Development and Supply Agreement, Contingent on Achievement of Future Milestone, Third Payment, Cash Only | 3,000,000 | ||
Development and Supply Agreement, Contingent on Achievement of Future Milestone, Third Payment, Cash Portion | 1,500,000 | ||
Development and Supply Agreement, Contingent on Achievement of Future Milestone, Third Payment, Equity Portion | $ 1,950,000 | ||
Development and Supply Agreement, Contingent on Achievement of Future Milestone, Fourth Payment, Cash Only | $ 2,000,000 | ||
Seraph Biosciences, Inc. [Member] | |||
Development, Commercialization and Exclusive Distribution Agreement, Contingent on Achievement of Development Milestone, Cash | $ 3,500,000 | ||
Development, Commercialization and Exclusive Distribution Agreement, Contingent on Achievement of Development Milestone, Equity | $ 3,500,000 |
Note 15 - Financial Instrumen_3
Note 15 - Financial Instruments - Contractual Maturities of Undiscounted Cash Flows of Financial Liabilities (Details) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 |
Accounts payable and Accrued Liabilities, maturity less than 3 Months | $ 1,827,761 | $ 2,087,525 |
Accounts payable and accrued liabilities, Maturity 3 to 6 Months | ||
Accounts payable and accrued liabilities, Maturity 6 to 9 Months | ||
Accounts payable and accrued liabilities, Maturity 9 to 12 Months | ||
Accounts payable and accrued liabilities, Maturity Greater Than 1 Year | ||
Accounts payable and accrued liabilities | 1,827,761 | 2,087,525 |
Maturity Less Than 3 Months | 1,827,761 | 2,087,525 |
Maturity 3 to 6 Months | ||
Maturity 6 to 9 Months | ||
Matury 9 to 12 Months | ||
Maturity Greater Than 1 Year | ||
Due to Related Parties, Total | $ 1,827,761 | $ 2,087,525 |
Note 16 - Segmented Informati_3
Note 16 - Segmented Information - Long-lived Assets by Geographic Areas (Details) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 |
Assets | $ 56,604,345 | $ 4,182,984 |
Total US property and equipment | 720,701 | 729,142 |
Total US right-of-use asset | 1,380,744 | 1,103,658 |
Property, Plant and Equipment, Including Leased Assets | 2,101,445 | 1,832,800 |
CANADA | ||
Assets | 52,077,832 | 249,929 |
UNITED STATES | ||
Assets | 4,526,513 | 3,933,055 |
Total US property and equipment | $ 720,701 | $ 729,142 |
Note 17 - Schedule of Expense_2
Note 17 - Schedule of Expenses - Schedule of Expenses (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Research and development | $ 2,702,103 | $ 962,463 | $ 7,205,674 | $ 9,555,345 |
Professional fees | 839,646 | 306,937 | 1,413,118 | 1,296,884 |
General and administrative | 1,335,085 | 1,377,252 | 3,607,346 | 5,490,928 |
Salaries, Bonus and Benefits [Member] | ||||
Research and development | 118,015 | 147,515 | 433,659 | 651,315 |
Professional fees | ||||
General and administrative | 910,668 | 879,422 | 2,414,103 | 4,524,682 |
Contracted Expenditures [Member] | ||||
Research and development | 544,952 | 661,917 | 1,423,764 | 2,474,483 |
Professional fees | ||||
General and administrative | ||||
Marketing and Investor Relations [Member] | ||||
Research and development | ||||
Professional fees | ||||
General and administrative | 59,559 | 165,837 | 176,938 | 297,252 |
Travel and Accommodation [Member] | ||||
Research and development | 8,327 | 407 | 21,103 | |
Professional fees | ||||
General and administrative | 91 | 198,993 | 13,006 | 318,730 |
Insurance [Member] | ||||
Research and development | 181 | 1,301 | 622 | 4,197 |
Professional fees | ||||
General and administrative | 62,649 | 36,065 | 154,999 | 77,165 |
License Fees [Member] | ||||
Research and development | 2,000,000 | 5,000,000 | 5,936,841 | |
Professional fees | ||||
General and administrative | ||||
Office [Member] | ||||
Research and development | 9,750 | 11,565 | 31,827 | 31,162 |
Professional fees | ||||
General and administrative | 63,771 | 52,332 | 361,967 | 149,788 |
Consultant [Member] | ||||
Research and development | 6,500 | 29,343 | 84,626 | 178,223 |
Professional fees | 839,646 | 306,937 | 1,413,118 | 1,296,884 |
General and administrative | ||||
Regulatory [Member] | ||||
Research and development | 31,773 | 151,073 | 95,418 | |
Professional fees | ||||
General and administrative | 152,201 | 26,163 | 262,557 | 76,333 |
Amortization, Right-of-use Asset [Member] | ||||
Research and development | 17,229 | 56,221 | ||
Professional fees | ||||
General and administrative | 86,146 | 7,603 | 223,776 | 19,483 |
Supplies [Member] | ||||
Research and development | 5,476 | 70,722 | 23,475 | 162,603 |
Professional fees | ||||
General and administrative | $ 10,837 | $ 27,495 |
Note 19 - Loss Per Share - Loss
Note 19 - Loss Per Share - Loss Per Share (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Net loss for the period | $ 4,979,975 | $ 2,845,679 | $ 12,738,582 | $ 16,927,016 |
Weighted average shares - basic (in shares) | 550,541,878 | 108,038,398 | 291,314,002 | 105,711,459 |
Warrants (in shares) | ||||
Stock options (in shares) | ||||
Denominator for diluted loss per share (in shares) | 550,541,878 | 108,038,398 | 291,314,002 | 105,711,459 |
Loss per share - basic and diluted (in dollars per share) | $ (0.01) | $ (0.03) | $ (0.04) | $ (0.16) |
Note 20 - Related Party Trans_3
Note 20 - Related Party Transactions and Key Management Compensation - Key Management Personnel Compensation (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Stock-based compensation | $ 187,969 | $ 197,988 | $ 478,835 | $ 2,539,092 |
Director and Executive Officers [Member] | ||||
Salaries and benefits, including bonuses | 281,868 | 251,737 | 624,604 | 887,635 |
Stock-based compensation | 15,445 | 100,002 | 393,470 | 1,744,327 |
Total | $ 297,313 | $ 351,739 | $ 1,018,074 | $ 2,631,962 |