Document_And_Entity_Informatio
Document And Entity Information | 6 Months Ended | |
Jun. 30, 2014 | Jul. 30, 2014 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'RESPONSE BIOMEDICAL CORP | ' |
Document Type | '10-Q | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Common Stock, Shares Outstanding | ' | 7,946,187 |
Amendment Flag | 'false | ' |
Entity Central Index Key | '0000806888 | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Well-known Seasoned Issuer | 'No | ' |
Document Period End Date | 30-Jun-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
Consolidated_Balance_Sheets_Un
Consolidated Balance Sheets (Unaudited) (CAD) | Jun. 30, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
ASSETS | ' | ' | ||
Cash and cash equivalents | 2,611 | 2,958 | ||
Trade receivables, net | 709 | 875 | ||
Other receivables | 35 | 112 | ||
Inventories [note 5] | 2,574 | 2,250 | ||
Prepaid expenses and other | 154 | 123 | ||
Deferred debt financing costs - current portion | 103 | 73 | ||
Total current assets | 6,186 | 6,391 | ||
Long-term prepaid expenses | 93 | 93 | ||
Restricted deposits [note 8] | 901 | 901 | ||
Property, plant and equipment | 6,478 | 6,819 | ||
Deferred debt financing costs | 79 | ' | ||
Total assets | 13,737 | 14,204 | ||
LIABILITIES AND SHAREHOLDERS' DEFICIT | ' | ' | ||
Accounts payable and accrued liabilities [note 6] | 2,726 | 2,727 | ||
Long term debt - current portion [note 7] | 393 | ' | ||
Lease inducements - current portion [note 8] | 169 | 170 | ||
Repayable leasehold improvement allowance - current portion [note 8] | 436 | [1] | 413 | [1] |
Deferred revenue - current portion | 78 | 62 | ||
Warrant liability [notes 4 and 9] | 4,373 | 5,251 | ||
Total current liabilities | 8,175 | 8,623 | ||
Long term debt [note 7] | 1,150 | ' | ||
Lease inducements [note 8] | 1,281 | 1,366 | ||
Repayable leasehold improvement allowance [note 8] | 5,445 | 5,669 | ||
Deferred revenue | 25 | 28 | ||
16,076 | 15,686 | |||
Commitments [note 10] | ' | ' | ||
Shareholders' deficit | ' | ' | ||
Common shares [note 9] | 102,085 | 101,945 | ||
Additional paid-in capital [note 9] | 14,980 | 14,742 | ||
Deficit | -119,404 | -118,169 | ||
Total shareholders' deficit | -2,339 | -1,482 | ||
13,737 | 14,204 | |||
[1] | The Company received a repayable leasehold improvement allowance for an amount of $7.8 million used for additional improvements to the facility. This lease inducement is being repaid over the term of the operating lease commencing February 1, 2008 at approximately $89,000 per month including interest calculated at an interest rate negotiated between the Company and the landlord. Principal repayments for the three and six month period ended June 30, 2014 amounted to $102,000 and $201,000 [2013 - $91,000 and $180,000]. Interest payments for the three and six month period ended June 30, 2014 amounted to $164,000 and $330,000 [2013 - $177,000 and $351,000]. |
Consolidated_Statements_of_Los
Consolidated Statements of Loss and Comprehensive Income (Loss) (Unaudited) (CAD) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
REVENUE | ' | ' | ' | ' |
Product sales [note 11] | 3,077 | 2,748 | 5,636 | 6,309 |
Cost of sales [notes 5, 9, and 10] | 1,705 | 1,606 | 3,145 | 3,571 |
Gross profit on product sales | 1,372 | 1,142 | 2,491 | 2,738 |
EXPENSES [notes 9 and 10] | ' | ' | ' | ' |
Research and development | 813 | 560 | 1,624 | 1,114 |
General and administrative | 586 | 1,038 | 1,397 | 1,863 |
Sales and marketing | 483 | 532 | 1,129 | 1,016 |
Total operating expenses | 1,882 | 2,130 | 4,150 | 3,993 |
OTHER EXPENSES (INCOME) | ' | ' | ' | ' |
Interest expense and amortization of deferred financing costs and debt discount [note 8] | 226 | 175 | 423 | 351 |
Interest income | -4 | -4 | -9 | -7 |
Other income | ' | ' | ' | -58 |
Income tax expense | 15 | 14 | 32 | 14 |
Foreign exchange loss (gain) | 4 | -46 | 8 | -39 |
Unrealized loss (gain) on revaluation of warrant liability [note 4] | -1,039 | -4,470 | -878 | 5,105 |
Total other expenses | -798 | -4,331 | -424 | 5,366 |
Net income (loss) and comprehensive income (loss) for the period | 288 | 3,343 | -1,235 | -6,621 |
Income (loss) per common share - basic [note 9] (in Dollars per share) | 0.04 | 0.51 | -0.16 | -1.01 |
Income (loss) per common share - diluted[note 9] (in Dollars per share) | 0.04 | -0.14 | -0.16 | -1.01 |
Weighted average number of common shares outstanding - basic [note 9] (in Shares) | 7,944,235 | 6,574,358 | 7,912,580 | 6,536,494 |
Weighted average number of common shares outstanding - diluted [note 9] (in Shares) | 8,023,175 | 8,885,549 | 7,912,580 | 6,536,494 |
Consolidated_Statements_of_Sha
Consolidated Statements of Shareholders' Equity/(Deficit) (Unaudited) (CAD) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance at Dec. 31, 2012 | 99,289,000 | 13,203,000 | -112,171,000 | 321,000 |
Balance (in Shares) at Dec. 31, 2012 | 6,455,206 | ' | ' | ' |
Net loss | ' | ' | -5,998,000 | -5,998,000 |
Private placement, net of issue costs | 2,055,000 | 695,000 | ' | 2,750,000 |
Private placement, net of issue costs (in Shares) | 1,273,117 | ' | ' | ' |
Net shares issued upon exercise of warrants | 562,000 | ' | ' | 562,000 |
Net shares issued upon exercise of warrants (in Shares) | 122,458 | ' | ' | ' |
Net shares issued upon conversion of restricted share units | 39,000 | -39,000 | ' | ' |
Net shares issued upon conversion of restricted share units (in Shares) | 20,144 | ' | ' | ' |
Stock-based compensation expense | ' | 660,000 | ' | 660,000 |
Restricted share units | ' | 223,000 | ' | 223,000 |
Balance at Dec. 31, 2013 | 101,945,000 | 14,742,000 | -118,169,000 | -1,482,000 |
Balance (in Shares) at Dec. 31, 2013 | 7,870,925 | ' | ' | ' |
Net loss | ' | ' | -1,235,000 | -1,235,000 |
Net shares issued upon conversion of restricted share units | 140,000 | -140,000 | ' | ' |
Net shares issued upon conversion of restricted share units (in Shares) | 75,262 | ' | ' | ' |
Warrants issued | ' | 73,000 | ' | 73,000 |
Stock-based compensation expense | ' | 233,000 | ' | 233,000 |
Restricted share units | ' | 72,000 | ' | 72,000 |
Balance at Jun. 30, 2014 | 102,085,000 | 14,980,000 | -119,404,000 | -2,339,000 |
Balance (in Shares) at Jun. 30, 2014 | 7,946,187 | ' | ' | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (Unaudited) (CAD) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
OPERATING ACTIVITIES | ' | ' |
Net loss for the period | -1,235 | -6,621 |
Add (deduct) items not involving cash: | ' | ' |
Depreciation of property, plant and equipment | 491 | 516 |
Amortization of deferred lease inducements | -86 | -86 |
Amortization of deferred financing costs | 42 | ' |
Amortization of discount on debt | 14 | ' |
Stock-based compensation | 233 | 316 |
Unrealized loss (gain) on revaluation of warrant liability | -878 | 5,105 |
Other non-cash items | -60 | ' |
Changes in non-cash working capital: | ' | ' |
Trade receivables | 166 | -84 |
Other receivables | 77 | 97 |
Inventories | -324 | -118 |
Prepaid expenses and other | -31 | -48 |
Accounts payable and accrued liabilities | 51 | 482 |
Deferred revenue | 14 | -71 |
Cash used in operating activities | -1,526 | -512 |
INVESTING ACTIVITIES | ' | ' |
Purchase of property, plant and equipment | -145 | -48 |
Cash used in investing activities | -145 | -48 |
FINANCING ACTIVITIES | ' | ' |
Repayment of repayable leasehold improvement allowance | -201 | -180 |
Proceeds from debt | 1,661 | ' |
Debt financing costs | -136 | ' |
Cash provided by (used in) financing activities | 1,324 | -180 |
Decrease in cash during the period | -347 | -740 |
Cash and cash equivalents, beginning of period | 2,958 | 2,080 |
Cash and cash equivalents, end of period | 2,611 | 1,340 |
Note_1_Description_of_Business
Note 1 - Description of Business | 6 Months Ended |
Jun. 30, 2014 | |
Disclosure Text Block [Abstract] | ' |
Business Description and Basis of Presentation [Text Block] | ' |
1. DESCRIPTION OF BUSINESS | |
Response Biomedical Corp. (the “Company”) was incorporated on August 20, 1980 under the predecessor to the Business Corporations Act (British Columbia). The Company’s wholly owned US subsidiary, Response Point of Care Inc., was incorporated on November 9, 2012 in the State of Delaware. The Company is engaged in the research, development, commercialization and distribution of diagnostic technologies for the medical point of care (POC), laboratory and on-site environmental testing markets. POC and on-site diagnostic tests (or assays) are simple, non-laboratory based tests performed using portable hand-held devices, compact desktop analyzers, single-use test cartridges and/or dipsticks. Since 1996, the Company has developed and commercialized a proprietary diagnostic system called RAMP®. | |
The RAMP® System is a portable fluorescence immunoassay-based diagnostic technology that combines the performance of a clinical lab with the convenience of a dipstick test. Immunoassays are extremely sensitive and specific tests used to identify and measure small quantities of materials, such as proteins. A large variety of biological molecules and inorganic materials can be targeted. Accordingly, the RAMP® technology is applicable to multiple distinct market segments and many products within those segments. RAMP® tests are now commercially available for use in the early detection of heart attack, congestive heart failure, influenza A+B, the respiratory syncytial virus, environmental detection of West Nile Virus, and biodefense applications including the rapid on-site detection of anthrax, smallpox, ricin and botulinum toxin. |
Note_2_Basis_of_Presentation_a
Note 2 - Basis of Presentation and Going Concern Uncertainty | 6 Months Ended |
Jun. 30, 2014 | |
Disclosure Text Block [Abstract] | ' |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | ' |
2. BASIS OF PRESENTATION AND GOING CONCERN UNCERTAINTY | |
These unaudited interim consolidated financial statements have been prepared by management in Canadian dollars in accordance with United States generally accepted accounting principles (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q. Accordingly, they do not include all of the information and footnotes required to be presented for complete financial statements. The accompanying unaudited interim consolidated financial statements reflect, in the opinion of management, all adjustments (which include reclassifications and normal recurring adjustments) necessary for a fair presentation of the results for the interim periods presented. The accompanying consolidated balance sheet at December 31, 2013 has been derived from the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year then ended. The consolidated financial statements and related disclosures have been prepared with the assumption that users of the interim financial information have read or have access to the audited consolidated financial statements for the preceding fiscal year. Accordingly, these unaudited interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the related notes thereto included in the Annual Report on Form 10-K for the year ended December 31, 2013 and filed with the United States Securities and Exchange Commission (“SEC”) on March 17, 2014. | |
Going Concern Uncertainty | |
The accompanying financial statements have been prepared assuming the Company will continue to operate as a going concern, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. | |
During the six month period ended June 30, 2014, the Company has incurred a net loss of $1.2 million and negative cash flows from operating activities of $1.5 million. As of June 30, 2014, the Company had a cash balance of $2.6 million, an accumulated deficit of $119.4 million, a shareholders’ deficit of $2.3 million, and a negative working capital balance of $2.0 million. In addition, the Company has various operating leases and purchase commitments for inventory (refer to note 10). Included in current liabilities is a warrant liability in the amount of $4.4 million that is required to be measured at fair value and is presented as a current liability in accordance with Accounting Standards Codification Topic 815 – Derivatives and Hedging (“ASC 815”). Each warrant may only be exercised on a net cashless exercise basis and no warrant may be exercised at a time when the exercise price equals or exceeds the current market price meaning the potential settlement of any warrant does not require any cash disbursement. Without taking into account the warrant liability mentioned above, current assets exceed current liabilities by $2.4 million. | |
The ability of the Company to continue as a going concern is uncertain and dependent on the Company’s ability to obtain additional financing and/or achieve cash flow positive operations. Management has, thus far, financed the operations through a series of equity and debt financings. On February 11, 2014, the Company announced that it had secured a US $2.5 million term loan from Silicon Valley Bank (“SVB”). Refer to note 7 for the significant terms of the loan. | |
Management believes that, with the Private Placement completed in 2013 (note 9[b]) and term loan noted above, based on the current level of operations, and excluding out of the ordinary cash management measures, the Company’s cash and cash equivalent balances, including cash generated from operations and proceeds of debt, will be sufficient to meet the anticipated cash requirements through the next twelve months, unless the Company violates its debt covenants and the outstanding amounts become current. However, due to the requirements of the Company to meet financial covenants related to revenue and liquidity, under the terms of the term loan (refer to note 7), and the Company’s history of losses, there is substantial doubt over the Company’s ability to continue as a going concern as it is dependent on meeting the financial covenants and ultimately achieving profitable operations, the outcome of which cannot be predicted at this time. The consolidated financial statements do not include any adjustments to the amounts and classification of assets and liabilities that might be necessary should the Company be unable to continue as a going concern. Such adjustments could be material. |
Note_3_Recent_Accounting_Prono
Note 3 - Recent Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2014 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | ' |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | ' |
3. RECENT ACCOUNTING PRONOUNCEMENTS | |
In July 2013, the FASB issued an update that provides guidance on the balance sheet presentation of an unrecognized tax benefit when a net operating loss carryforward, similar tax loss, or tax credit carryforward exists as of the reporting date. The update is effective prospectively for fiscal years, and interim periods within those years, beginning after December 15, 2013. Retrospective application is permitted. The Company adopted this guidance effective January 1, 2014. The adoption of this standard did not have a material effect on the Company’s consolidated financial statements. |
Note_4_Fair_Value_Measurements
Note 4 - Fair Value Measurements | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value Disclosures [Text Block] | ' | ||||||||||||||||
4. FAIR VALUE MEASUREMENTS | |||||||||||||||||
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (“exit price”) in an orderly transaction between market participants at the measurement date. Fair value measurements of financial instruments are determined by using a fair value hierarchy that prioritizes the inputs to valuation techniques into three levels according to the relative reliability of the inputs used to estimate the fair values. | |||||||||||||||||
The three levels of inputs used to measure fair value are as follows: | |||||||||||||||||
Level 1 – Unadjusted quoted prices in active markets for identical financial instruments; | |||||||||||||||||
Level 2 – Inputs other than quoted prices that are observable for the financial instrument either directly or indirectly; and | |||||||||||||||||
Level 3 – Inputs that are not based on observable market data. | |||||||||||||||||
In determining fair value measurements, the Company uses the most observable inputs when available. | |||||||||||||||||
For certain of the Company’s financial instruments, including cash and cash equivalents, trade receivables, other receivables, accounts payable, and accrued liabilities, the carrying amounts approximate fair values due to their short-term nature. The carrying value of the restricted deposits approximates its fair value due to the nature of the cash deposit. The fair value of the long term debt approximates its carrying value, as the term loan with SVB was secured during the first quarter of 2014 and therefore approximates the current market rate for the term loan. The fair value of the repayable leasehold improvement allowance approximates its carrying value, as the fixed interest rate of 11% is considered to approximate the current market rate. | |||||||||||||||||
The fair value hierarchy level at which a financial instrument is categorized is determined on the basis of the lowest level input that is significant to the fair value measurement (in thousands): | |||||||||||||||||
Financial Instruments carried at fair value as of June 30, 2014 | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Liabilities | $ | $ | $ | $ | |||||||||||||
Warrant Liability | - | - | 4,373 | 4,373 | |||||||||||||
As of June 30, 2014, the warrant liability is recorded at its fair value of $4.4 million. The Company reassesses the fair value of the common stock warrants at each reporting date utilizing a Black-Scholes pricing model. Inputs used in the pricing model include estimates of stock price volatility, contractual term of the warrant, and risk-free interest rate (refer to note 9[g]). The computation of expected volatility was based on the historical volatility of the Company’s stock. A small change in the estimates used in the Black-Scholes pricing model may have a relatively large change in the estimated valuation of the common stock warrants. | |||||||||||||||||
The following table presents the changes in fair value of the Company’s total Level 3 financial liabilities for the six month period ended June 30, 2014 (in thousands): | |||||||||||||||||
Balance at | Unrealized Gain | Exercise of | Balance at | ||||||||||||||
31-Dec-13 | Warrants | 30-Jun-14 | |||||||||||||||
Warrant Liability | 5,251 | (878 | ) | - | 4,373 | ||||||||||||
Quantitative information about unobservable inputs used in Level 3 fair value measurements is presented below: | |||||||||||||||||
Valuation Technique | Unobservable Input | As at June 30, | As at December 31, 2013 | ||||||||||||||
2014 | |||||||||||||||||
Warrant Liability | Option Model | Stock Price Volatility | 124 | % | 140 | % | |||||||||||
A 5% increase or decrease in stock price volatility would cause an approximate corresponding $125,000 increase or decrease to the Warrant Liability ($100,000 – December 31, 2013). |
Note_5_Inventories
Note 5 - Inventories | 6 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Inventory Disclosure [Text Block] | ' | ||||||||
5. INVENTORIES | |||||||||
Inventories are comprised of the following (in thousands): | |||||||||
30-Jun-14 | 31-Dec-13 | ||||||||
$ | $ | ||||||||
Raw materials | 1,323 | 1,155 | |||||||
Work in progress | 551 | 198 | |||||||
Finished goods | 700 | 897 | |||||||
2,574 | 2,250 | ||||||||
The carrying value of inventory as of June 30, 2014 includes a provision for expired, obsolete and damaged inventory in the amount of $74,000 [December 31, 2013 - $60,000]. For the three and six month period ended June 30, 2014, inventory write-down and obsolescence charges were $57,000 and $122,000 [2013 - $111,000 and $163,000]. |
Note_6_Accounts_Payable_and_Ac
Note 6 - Accounts Payable and Accrued Liabilities | 6 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Payables and Accruals [Abstract] | ' | ||||||||
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | ' | ||||||||
6. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES | |||||||||
Accounts payable and accrued liabilities comprise (in thousands): | |||||||||
30-Jun-14 | 31-Dec-13 | ||||||||
$ | $ | ||||||||
Trade accounts payable | 1,041 | 1,232 | |||||||
Employee related accounts payable and accrued liabilities | 775 | 913 | |||||||
Royalties | 188 | 172 | |||||||
Other accrued liabilities | 722 | 410 | |||||||
2,726 | 2,727 | ||||||||
Accounts payable and accrued liabilities include $14,000 of debt financing costs and $5,000 of additions to property, plant, and equipment as at June 30, 2014. These amounts have been excluded from cash provided by (used in) financing activities and cash used in investing activities respectively on the consolidated statements of cash flows for the six months ended June 30, 2014 as the cash had not been disbursed as of that date. Consequently, both amounts have been excluded from cash used in operating activities. |
Note_7_Long_Term_Debt
Note 7 - Long Term Debt | 6 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Disclosure Text Block [Abstract] | ' | ||||||||
Long-term Debt [Text Block] | ' | ||||||||
7. LONG TERM DEBT | |||||||||
On February 11, 2014, the Company entered into a loan and security agreement with Silicon Valley Bank (“SVB”) providing for a US $2.5 million term loan. The loan is secured by substantially all of the assets of the Company and includes financial covenants related to certain revenue and liquidity targets. The revenue targets state that the Company’s trailing three-month revenue shall be equal to or greater than $1.5 million from the Effective Date through May 31, 2014, $2.5 million from June 30, 2014 through August 31, 2014, $3.0 million from September 30, 2014 through November 30, 2014, and $3.75 million as at December 31, 2014. In addition, the loan requires the ratio of the total of the Company’s unrestricted cash and net Accounts receivable to the aggregate outstanding amount owed to SVB to be equal to or greater than 1.15 to 1.00. Under the terms of the loan agreement, the total proceeds of US $2.5 million will be made available in tranches of US$1.5 million upon closing and the remaining US$1.0 million at the discretion of the Company at any time prior to September 30, 2014 if the Company remains in compliance with the terms of the loan agreement. The loan matures on May 1, 2017 and bears an interest rate of Wall Street Journal Prime Rate plus 2.5% annually. Interest only payments will be made until October 1, 2014 at which time, 32 equal monthly installments of principal plus accrued interest will be made through to maturity. The loan contains a voluntary prepayment option whereby the principal amount can be prepaid in whole, or in part, for a fixed fee if a prepayment is made on or before February 10, 2016. Response provided SVB with 52,796 warrants with an exercise price of $1.831 per warrant and a term of 10 years. These warrants were measured at their fair market value using the Black-Scholes model on the date of the grant using the following assumptions: Risk free interest rate: 2.04%; Expected dividend yield: 0.0%; Expected life (in years): 10.0 years; Expected volatility: 110%. The estimated fair value of the warrants was $73,000 and was recorded as a debt discount which is being amortized into income over the term of the loan using the effective interest method. In addition, there were $224,000 of fees related to the term loan which are also being amortized over the term of the loan using the effective interest method. Amortization of the debt discount for the three and six month periods ended June 30, 2014 was $9,000 and $14,000 (2013 – nil and nil) and amortization of the deferred financing costs for the three and six month periods ended June 30, 2014 was $29,000 and $42,000 (2013 – nil and nil). Both of these amounts are included in interest expense and amortization of deferred financing costs and debt discount on the consolidated statements of income (loss) and comprehensive income (loss). | |||||||||
Long term debt is comprised of the following amounts (in thousands): | |||||||||
30-Jun-14 | 31-Dec-13 | ||||||||
$ | $ | ||||||||
Current portion of long-term debt | 426 | - | |||||||
Current portion of unamortized debt discount | (33 | ) | - | ||||||
Current portion of long-term debt, net of debt discount | 393 | - | |||||||
Long-term portion of long-term debt | 1,176 | - | |||||||
Long-term portion of unamortized debt discount | (26 | ) | - | ||||||
Long-term of long-term debt, net of debt discount | 1,150 | - | |||||||
Total | 1,543 | - | |||||||
Note_8_Lease_Inducements
Note 8 - Lease Inducements | 6 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Other Liabilities and Financial Instruments Subject to Mandatory Redemption [Abstract] | ' | ||||||||
Other Liabilities Disclosure [Text Block] | ' | ||||||||
8. LEASE INDUCEMENTS | |||||||||
Lease agreements entered into by the Company for its offices provides for lease inducements to be provided by the landlord to the Company which are summarized as follows (in thousands): | |||||||||
30-Jun-14 | 31-Dec-13 | ||||||||
$ | $ | ||||||||
Current Portion | |||||||||
Rent-free inducement [i] | 55 | 55 | |||||||
Non-repayable leasehold improvement allowance [ii] | 114 | 115 | |||||||
169 | 170 | ||||||||
Repayable leasehold improvement allowance [iii] | 436 | 413 | |||||||
Total Current Portion | 605 | 583 | |||||||
Long-Term Portion | |||||||||
Rent-free inducement [i] | 412 | 439 | |||||||
Non-repayable leasehold improvement allowance [ii] | 869 | 927 | |||||||
1,281 | 1,366 | ||||||||
Repayable leasehold improvement allowance [iii] | 5,445 | 5,669 | |||||||
Total Long-Term Portion | 6,726 | 7,035 | |||||||
Total | 7,331 | 7,618 | |||||||
The lease inducements disclosed on the consolidated balance sheets as a result of these benefits is comprised of the following: | |||||||||
[i] In 2007, the Company entered into a long-term facility lease agreement that included an eight and one half month rent-free period from May 17, 2007 to February 1, 2008. The lease inducement benefit arising from the rent-free period is being amortized on a straight-line basis over the term of the operating lease as a reduction to rental expense. Amortization expense for the three and six month period ended June 30, 2014 amounted to $13,000 and $27,000 [2013 - $14,000 and $27,000]. | |||||||||
[ii] The Company received a non-repayable allowance for an amount of $1.7 million for expenditures related to general upgrades to the facility. The lease inducement benefit arising from the non-repayable leasehold improvement allowance is being amortized on a straight-line basis over the balance of the term of the lease beginning April 1, 2008 as a reduction to rental expense. Amortization expense for the three and six month period ended June 30, 2014 amounted to $28,000 and $57,000 [2013 - $29,000 and $57,000]. | |||||||||
[iii] The Company received a repayable leasehold improvement allowance for an amount of $7.8 million used for additional improvements to the facility. This lease inducement is being repaid over the term of the operating lease commencing February 1, 2008 at approximately $89,000 per month including interest calculated at an interest rate negotiated between the Company and the landlord. Principal repayments for the three and six month period ended June 30, 2014 amounted to $102,000 and $201,000 [2013 - $91,000 and $180,000]. Interest payments for the three and six month period ended June 30, 2014 amounted to $164,000 and $330,000 [2013 - $177,000 and $351,000]. | |||||||||
To secure the lease, the Company is maintaining a security deposit with the landlord in the form of an irrevocable letter of credit in the amount of $871,000 collateralized by a term deposit with a market value of $871,000 that is presented as part of restricted deposits in the long-term asset section of the balance sheets. |
Note_9_Share_Capital_and_Addit
Note 9 - Share Capital and Additional Paid-in Capital | 6 Months Ended | |||||||||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||||||||
Stockholders' Equity Note [Abstract] | ' | |||||||||||||||||||||||||||||||
Stockholders' Equity Note Disclosure [Text Block] | ' | |||||||||||||||||||||||||||||||
9. SHARE CAPITAL AND ADDITIONAL PAID-IN CAPITAL | ||||||||||||||||||||||||||||||||
[a] Authorized - Unlimited common shares without par value. | ||||||||||||||||||||||||||||||||
[b] Issued | ||||||||||||||||||||||||||||||||
2013 Private Placement | ||||||||||||||||||||||||||||||||
On November 7, 2013 the Company’s shareholders approved a brokered and non-brokered private placement of 1,273,117 subscription receipts (the “Subscription Receipts”) at a price of $2.45 for aggregate gross proceeds of $3.1 million. Each Subscription Receipt automatically entitled the holder to receive one unit. Each unit consisted of one common share and one-half of one warrant to purchase one common share. Each whole warrant has a term of 36 months and an exercise price of $3.58. | ||||||||||||||||||||||||||||||||
The net proceeds were $2.8 million after deduction of $388,000 of financing costs. Of these net proceeds, $2.1 million was allocated to common shares and $677,000 was allocated to warrants. | ||||||||||||||||||||||||||||||||
[c] Stock option plan | ||||||||||||||||||||||||||||||||
At the Annual General Meeting held September 3, 2008, the Company’s shareholders approved a new stock option plan (“2008 Plan”). Under the plan, the Company may grant options to purchase common shares in the Company to employees, directors, officers and consultants of the Company. The exercise price of the options is determined by the Board but is equal to the fair market value of the common shares at the grant date. The Company estimates the fair value of options on the date of the grant. The options vest over the requisite service period in accordance with terms as determined by the Board, typically over four years. Stock options expire no later than ten years from the date of grant. | ||||||||||||||||||||||||||||||||
At the Annual General and Special Meeting held on June 18, 2013, the Company’s shareholders’ approved a change to the Company’s 2008 stock option plan permitting the maximum shares authorized to be issued under the plan to be up to 20% of the issued and outstanding common shares outstanding at any point in time. | ||||||||||||||||||||||||||||||||
Of the 1,589,237 stock options authorized for grant under the 2008 Plan as at June 30, 2014, 133,875 options are available for grant. | ||||||||||||||||||||||||||||||||
The fair value of each stock award is estimated on the grant date using the Black-Scholes option-pricing model based on the assumptions noted in the following table: | ||||||||||||||||||||||||||||||||
Six Months Ended June 30, | 2014 | 2013 | ||||||||||||||||||||||||||||||
Risk-free interest rates | 2.05 | % | 1.66 | % | ||||||||||||||||||||||||||||
Expected dividend yield | 0 | % | 0 | % | ||||||||||||||||||||||||||||
Expected life (in years) | 5.9 | 5.7 | ||||||||||||||||||||||||||||||
Expected volatility | 126 | % | 123 | % | ||||||||||||||||||||||||||||
Fair value per stock option | $ | 1.31 | $ | 2.68 | ||||||||||||||||||||||||||||
The expected volatility reflects the assumption that the historical volatility of common stock of the Company over a period similar to the expected life of the options is indicative of future trends. The Company estimates the risk-free interest rate using the Bank of Canada bond yield with a remaining term equal to the expected life of the option. The Company uses the simplified method for estimating the stock option term for stock option grants during the three and six month period ended June 30, 2014 as the Company has determined that the stock options are “plain vanilla” and historical share option exercises do not apply as the vesting term and contractual lives have significantly changed from those stock options exercised previously. | ||||||||||||||||||||||||||||||||
At June 30, 2014, the following stock options were outstanding: | ||||||||||||||||||||||||||||||||
Range of | Number of | Weighted average | Weighted | Number of options | Weighted | |||||||||||||||||||||||||||
exercise price | shares under | remaining | average exercise | currently | average exercise | |||||||||||||||||||||||||||
option | contractual life | price | exercisable | price | ||||||||||||||||||||||||||||
$ | # | (years) | $ | # | $ | |||||||||||||||||||||||||||
1.02 | - | 1.6 | 872,755 | 8.82 | 1.52 | 251,786 | 1.52 | |||||||||||||||||||||||||
2.2 | 393,447 | 7.76 | 2.2 | 335,964 | 2.2 | |||||||||||||||||||||||||||
3 | - | 3.1 | 186,700 | 8.72 | 3.1 | 154,040 | 3.1 | |||||||||||||||||||||||||
6.8 | - | 8.2 | 1,824 | 1.62 | 7.7 | 911 | 7.7 | |||||||||||||||||||||||||
23 | 636 | 0.45 | 23 | 636 | 23 | |||||||||||||||||||||||||||
1.02 | - | 23 | 1,455,362 | 8.51 | 1.92 | 743,337 | 2.18 | |||||||||||||||||||||||||
The options expire at various dates from December 10, 2014 to May 14, 2024. | ||||||||||||||||||||||||||||||||
Stock option transactions and the number of stock options outstanding are summarized below: | ||||||||||||||||||||||||||||||||
Number of optioned | Weighted average | |||||||||||||||||||||||||||||||
common shares | exercise price | |||||||||||||||||||||||||||||||
# | $ | |||||||||||||||||||||||||||||||
Balance, December 31, 2013 | 1,130,628 | 2.08 | ||||||||||||||||||||||||||||||
Options granted | 369,850 | 1.49 | ||||||||||||||||||||||||||||||
Options forfeited | (45,116 | ) | 2.39 | |||||||||||||||||||||||||||||
Balance, June 30, 2014 | 1,455,362 | 1.92 | ||||||||||||||||||||||||||||||
[d] Restricted share unit plan | ||||||||||||||||||||||||||||||||
At the Annual General and Special Meeting held on June 18, 2013, the Company’s shareholders approved a new restricted share unit plan (“RSU Plan”). Under the plan, the Company may grant Restricted Share Units (“RSUs”) to employees, directors, and eligible consultants which entitle each participant to either one common share of the Company on a time vested basis or a cash payout equal to the number of vested RSUs multiplied by the then current market value of the RSUs. The fair market value of the RSUs is determined based upon the number of RSUs granted and the quoted closing price of the Company’s stock on the trading day immediately preceding the date of determination. The duration of the vesting period and other vesting terms applicable to the grant of the RSUs shall be determined by the Board. | ||||||||||||||||||||||||||||||||
Number | Weighted average | |||||||||||||||||||||||||||||||
of RSUs | exercise price | |||||||||||||||||||||||||||||||
# | $ | |||||||||||||||||||||||||||||||
Balance, December 31, 2013 | 98,325 | 1.88 | ||||||||||||||||||||||||||||||
RSUs granted | 49,863 | 1.45 | ||||||||||||||||||||||||||||||
RSUs converted to common shares | (75,292 | ) | (1.86 | ) | ||||||||||||||||||||||||||||
Balance, June 30, 2014 | 72,896 | 1.59 | ||||||||||||||||||||||||||||||
The RSUs that were granted during the three and six month period ended June 30, 2014 were to settle a director compensation liability that was recorded in accounts payable and accrued liabilities. The $72,000 liability has been excluded from the change in accounts payable and accrued liabilities on the consolidated statement of cash flows. | ||||||||||||||||||||||||||||||||
Of the 198,654 RSUs authorized for grant under the RSU Plan as at June 30, 2014, 125,758 RSUs are available for grant. | ||||||||||||||||||||||||||||||||
[e] Deferred share unit plan | ||||||||||||||||||||||||||||||||
At the Annual General and Special Meeting held on June 18, 2013, the Company’s shareholders approved a new non-employee director deferred share unit plan (“DSU Plan”). A Deferred Share Unit (“DSU”) is a right granted to non-employee directors which entitle each participant to either one common share of the Company on a time vested basis or a cash payout equal to the number of DSUs multiplied by the then current market value of the DSUs. The fair market value of the DSU’s is determined based upon the number of DSUs granted and the quoted price of the Company’s stock on the trading day immediately preceding the determination date. The duration of the vesting period and other vesting terms applicable to the grant of the DSU’s shall be determined by the Board. | ||||||||||||||||||||||||||||||||
Of the 198,654 DSUs authorized for grant under the DSU Plan as at June 30, 2014, all are available for grant. | ||||||||||||||||||||||||||||||||
[f] Stock-based compensation | ||||||||||||||||||||||||||||||||
The following table shows stock-based compensation allocated by type of cost (in thousands): | ||||||||||||||||||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||||||||||||||||||
June 30, | 30-Jun | |||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||
$ | $ | $ | $ | |||||||||||||||||||||||||||||
Cost of sales | 9 | 10 | 18 | 15 | ||||||||||||||||||||||||||||
Research and development | 11 | 13 | 23 | 22 | ||||||||||||||||||||||||||||
General and administrative | 50 | 148 | 169 | 262 | ||||||||||||||||||||||||||||
Sales and marketing | 12 | 10 | 23 | 17 | ||||||||||||||||||||||||||||
82 | 181 | 233 | 316 | |||||||||||||||||||||||||||||
As of June 30, 2014, the total unrecognized compensation related to stock options granted, net of estimated forfeitures, is $753,000, which is expected to be recognized over a weighted average service period of 1.64 years. | ||||||||||||||||||||||||||||||||
[g] Common share purchase warrants | ||||||||||||||||||||||||||||||||
At June 30, 2014, there were 86,810,786 warrants outstanding to purchase shares of common stock, with expiry dates ranging from November 7, 2015 to February 11, 2024. Of the total 86,810,786 warrants outstanding, 86,103,744 warrants (the warrants related to the 2011 financing) entitle the holder thereof to purchase 1/20th of a common share of the Company at a price of $1.492 per whole common share; 636,557 warrants (the private placement warrants) entitle the holder thereof to purchase one common share of the Company at a price of $3.58 per common share; 17,689 warrants (the agent warrants) entitle the holder thereof to purchase one common share of the Company at a price of $2.45 per common share; and 52,796 warrants (the Silicon Valley Bank warrants) entitle the holder thereof to purchase one common share of the Company at a price of $1.831 per common share. | ||||||||||||||||||||||||||||||||
Common share purchase warrant transactions and the number of warrants outstanding are summarized below: | ||||||||||||||||||||||||||||||||
Number of | Weighted average | |||||||||||||||||||||||||||||||
warrants | exercise price | |||||||||||||||||||||||||||||||
# | $ | |||||||||||||||||||||||||||||||
Balance, December 31, 2013 | 86,757,990 | 0.1088 | ||||||||||||||||||||||||||||||
Warrants issued | 52,796 | 1.831 | ||||||||||||||||||||||||||||||
Balance, June 30, 2014 | 86,810,786 | 0.1019 | ||||||||||||||||||||||||||||||
The estimated fair value of the warrants related to the 2011 financing is reassessed at each balance sheet date using the Black-Scholes option pricing model. The following assumptions were used to value the warrants on the following balance sheet dates: | ||||||||||||||||||||||||||||||||
As at June 30, | 2014 | 2013 | ||||||||||||||||||||||||||||||
Risk-free interest rates | 1.09 | % | 1.65 | % | ||||||||||||||||||||||||||||
Expected dividend yield | 0 | % | 0 | % | ||||||||||||||||||||||||||||
Expected life (in years) | 2.5 | 3.5 | ||||||||||||||||||||||||||||||
Expected volatility | 124 | % | 132 | % | ||||||||||||||||||||||||||||
Fair value of warrant | $ | 0.0508 | $ | 0.0957 | ||||||||||||||||||||||||||||
[h] Earnings per common share | ||||||||||||||||||||||||||||||||
Basic net income per share is computed by dividing the net income attributable to common shareholders by the weighted average number of common shares outstanding during the period. Diluted net income per share is computed by dividing the net income attributable to common shareholders by the weighted average number of common shares that would have been outstanding during the period assuming the issuance of common shares for all potential dilutive common shares outstanding using the treasury stock method. Dilutive potential common shares outstanding include outstanding warrants, stock options, and restricted share units. | ||||||||||||||||||||||||||||||||
The following is a reconciliation of the weighted average number of common shares outstanding used in calculating basic and diluted net income (loss) per share (in thousands, except share and per share data): | ||||||||||||||||||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||||||||||||||||||
June 30, | June 30, | |||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||
$ | $ | $ | $ | |||||||||||||||||||||||||||||
Numerator: | ||||||||||||||||||||||||||||||||
Net income (loss) | $ | 288 | $ | 3,343 | $ | (1,235 | ) | $ | (6,621 | ) | ||||||||||||||||||||||
Unrealized gain on revaluation of warrant liability | - | (4,470 | ) | - | - | |||||||||||||||||||||||||||
Net income (loss) available to common shareholders | $ | 288 | $ | (1,127 | ) | $ | (1,235 | ) | $ | (6,621 | ) | |||||||||||||||||||||
Denominator: | ||||||||||||||||||||||||||||||||
Weighted average number of common shares outstanding - basic | 7,944,235 | 6,574,358 | 7,912,580 | 6,536,494 | ||||||||||||||||||||||||||||
Weighted average effect of dilutive securities: | ||||||||||||||||||||||||||||||||
Warrants | - | 2,311,191 | - | - | ||||||||||||||||||||||||||||
RSUs | 72,896 | - | - | - | ||||||||||||||||||||||||||||
Stock options | 6,044 | - | - | - | ||||||||||||||||||||||||||||
Weighted average number of common shares outstanding - diluted | 8,023,175 | 8,885,549 | 7,912,580 | 6,536,494 | ||||||||||||||||||||||||||||
86,810,786 warrants and 1,422,632 stock options have been excluded from the computation of diluted earnings per share for the three month period ended June 30, 2014 as their inclusion would be anti-dilutive to our earnings per share (2013 – 1,180,259 stock options and 53,258 RSUs were excluded). 86,810,786 warrants, 1,455,362 stock options, and 72,896 RSUs have been excluded from the computation of diluted earnings per share for the six month period ended June 30, 2014 as the Company has incurred a net loss for the period and their inclusion would be anti-dilutive to the loss per share (2013 - 86,103,744 warrants and 1,180,259 stock options were excluded). |
Note_10_Commitments
Note 10 - Commitments | 6 Months Ended |
Jun. 30, 2014 | |
Disclosure Text Block Supplement [Abstract] | ' |
Commitments Disclosure [Text Block] | ' |
10. COMMITMENTS | |
[a] License agreements | |
[i] The Company entered into a non-exclusive license agreement, effective July 2005, as amended June 2008, to use and sublicense certain technology (“Technology”) for one of the Company’s cardiac tests. In consideration for these rights, the Company paid a non-refundable license issuance fee of $2,000,000 in the first two years after execution of the agreement and is required to pay quarterly royalties on the sale of products that incorporate the Technology. For the three and six month period ended June 30, 2014, the Company incurred an expense of $157,000 and $274,000 [2013 - $176,000 and $371,000] for royalties. | |
[ii] The Company entered into a non-exclusive license and supply agreement, effective June 30, 2009, to purchase certain proprietary materials and use related intellectual property to manufacture, sell and have sold lateral flow immunoassay products. In consideration for these rights, the Company is to pay a non-refundable, non-creditable license fee, of USD$85,000 in 17 equal quarterly payments of USD$5,000 commencing December 31, 2009. The required payments were made by December 31, 2013 and therefore, no expense was incurred during the three and six month period ended June 30, 2014 [2013 - $5,000 and $10,000]. In addition, the company is required to make minimum annual purchases of material under this agreement that are included in note 10[d]. | |
All royalty and license fees incurred are included in cost of sales. | |
[b] Supply agreement | |
The Company entered into a supply agreement, effective September 2003 for certain reagents for the Company’s RAMP® West Nile Virus Test. In addition to paying for the reagent purchased, the Company is required to pay the supplier semi-annual royalties equal to 10% of net revenue generated from the sale of the Company’s RAMP® West Nile Virus Test. The initial term of the agreement was three years from the effective date and is automatically renewed for successive periods of one year until either party terminates the agreement. For the three and six month period ended June 30, 2014, the Company incurred an expense of $31,000 for both periods [2013 - $22,000 and $35,000] for royalties to the supplier. These royalties are included in cost of sales. | |
[c] Lease agreements | |
The Company entered into a long-term agreement to lease a single tenant 46,000 square foot facility to house all of the Company’s operations beginning March 2008. Rent is payable from February 1, 2008 to January 31, 2023. The Company is required to pay the landlord total gross monthly payments of approximately $171,000, which is comprised of base rent, administrative and management fees, estimated property taxes and repayments of the repayable leasehold improvement allowance [note 8[iii]]. | |
For the three and six month period ended June 30, 2014, $186,000 and $389,000 [2013 - $206,000 and $405,000] was incurred for expenses related to base rent, administrative and management fees, estimated property taxes offset by amortization of both the rent-free inducement [note 8[i]] and non-repayable leasehold improvement allowance [note 8[ii]]. These expenses are allocated to cost of sales, research and development, general and administrative, and sales and marketing expenses. | |
[d] Purchase commitments | |
As at June 30, 2014, the Company has outstanding purchase commitments of $1.6 million to purchase inventory over the next six years of which $876,000 will be completed during the remaining six months of 2014. | |
[e] Indemnification of directors and officers | |
Under the Articles of the Company, applicable law and agreements with its directors and officers, the Company, in circumstances where the individual has acted legally, honestly and in good faith, may, or is required to indemnify its directors and officers against certain losses. The Company's liability in respect of the indemnities is not limited. The maximum potential of the future payments is unlimited. However, the Company maintains appropriate liability insurance that limits the exposure and enables the Company to recover any future amounts paid, less any deductible amounts pursuant to the terms of the respective policies, the amounts of which are not considered material. | |
[f] Indemnification of third parties | |
The Company has entered into license and research agreements with third parties that include indemnification provisions that are customary in the industry. These indemnifications generally require the Company to compensate the other party for certain damages and costs incurred as a result of third party claims or damages arising from these transactions. The nature of the indemnification obligations prevents the Company from making a reasonable estimate of the maximum potential amount that it could be required to pay. To date, the Company has not made any indemnification payments under such agreements and no amount has been accrued in these consolidated financial statements with respect to these indemnification obligations. |
Note_11_Segmented_Information
Note 11 - Segmented Information | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Segment Reporting Disclosure [Text Block] | ' | ||||||||||||||||
11. SEGMENTED INFORMATION | |||||||||||||||||
The Company operates primarily in one business segment, the research, development, commercialization and distribution of diagnostic technologies, with primarily all of its assets and operations located in Canada. The Company’s revenues are generated from product sales primarily in China, the United States, Europe, Asia (excluding China) and Canada. Expenses are primarily incurred from purchases made from suppliers in Canada and the United States. | |||||||||||||||||
Customers that represent a concentration risk are those customers who represent 10% or greater of our total revenue. For the three month period ended June 30, 2014, $2.2 million (72%) in product sales was generated from four customers [2013 - $1.5 million (55%) from one customer]. For the six month period ended June 30, 2014, $4.0 million (71%) in product sales was generated from four customers [2013 - $3.9 million (61%) from two customers]. | |||||||||||||||||
Product sales by customer location were as follows (in thousands): | |||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
June 30, | 30-Jun | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
$ | $ | $ | $ | ||||||||||||||
China | 1,882 | 1,806 | 3,407 | 3,918 | |||||||||||||
United States | 521 | 392 | 731 | 1,158 | |||||||||||||
Asia (excluding China) | 127 | 201 | 282 | 359 | |||||||||||||
Europe | 284 | 261 | 712 | 580 | |||||||||||||
Canada | 6 | 21 | 10 | 28 | |||||||||||||
Other | 257 | 67 | 494 | 266 | |||||||||||||
Total | 3,077 | 2,748 | 5,636 | 6,309 | |||||||||||||
Product sales by type of product were as follows (in thousands): | |||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
June 30, | 30-Jun | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
$ | $ | $ | $ | ||||||||||||||
Cardiovascular | 2,609 | 2,389 | 5,047 | 5,235 | |||||||||||||
Infectious Diseases | 3 | - | 72 | 455 | |||||||||||||
Biodefense products | 131 | 126 | 175 | 251 | |||||||||||||
West Nile Virus (Environmental) | 334 | 233 | 342 | 368 | |||||||||||||
Total | 3,077 | 2,748 | 5,636 | 6,309 | |||||||||||||
Note_4_Fair_Value_Measurements1
Note 4 - Fair Value Measurements (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | ' | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Liabilities | $ | $ | $ | $ | |||||||||||||
Warrant Liability | - | - | 4,373 | 4,373 | |||||||||||||
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block] | ' | ||||||||||||||||
Balance at | Unrealized Gain | Exercise of | Balance at | ||||||||||||||
31-Dec-13 | Warrants | 30-Jun-14 | |||||||||||||||
Warrant Liability | 5,251 | (878 | ) | - | 4,373 | ||||||||||||
Fair Value Inputs, Liabilities, Quantitative Information [Table Text Block] | ' | ||||||||||||||||
Valuation Technique | Unobservable Input | As at June 30, | As at December 31, 2013 | ||||||||||||||
2014 | |||||||||||||||||
Warrant Liability | Option Model | Stock Price Volatility | 124 | % | 140 | % |
Note_5_Inventories_Tables
Note 5 - Inventories (Tables) | 6 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Schedule of Inventory, Current [Table Text Block] | ' | ||||||||
30-Jun-14 | 31-Dec-13 | ||||||||
$ | $ | ||||||||
Raw materials | 1,323 | 1,155 | |||||||
Work in progress | 551 | 198 | |||||||
Finished goods | 700 | 897 | |||||||
2,574 | 2,250 |
Note_6_Accounts_Payable_and_Ac1
Note 6 - Accounts Payable and Accrued Liabilities (Tables) | 6 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Payables and Accruals [Abstract] | ' | ||||||||
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | ' | ||||||||
30-Jun-14 | 31-Dec-13 | ||||||||
$ | $ | ||||||||
Trade accounts payable | 1,041 | 1,232 | |||||||
Employee related accounts payable and accrued liabilities | 775 | 913 | |||||||
Royalties | 188 | 172 | |||||||
Other accrued liabilities | 722 | 410 | |||||||
2,726 | 2,727 |
Note_7_Long_Term_Debt_Tables
Note 7 - Long Term Debt (Tables) | 6 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Disclosure Text Block [Abstract] | ' | ||||||||
Schedule of Long-term Debt Instruments [Table Text Block] | ' | ||||||||
30-Jun-14 | 31-Dec-13 | ||||||||
$ | $ | ||||||||
Current portion of long-term debt | 426 | - | |||||||
Current portion of unamortized debt discount | (33 | ) | - | ||||||
Current portion of long-term debt, net of debt discount | 393 | - | |||||||
Long-term portion of long-term debt | 1,176 | - | |||||||
Long-term portion of unamortized debt discount | (26 | ) | - | ||||||
Long-term of long-term debt, net of debt discount | 1,150 | - | |||||||
Total | 1,543 | - |
Note_8_Lease_Inducements_Table
Note 8 - Lease Inducements (Tables) | 6 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Other Liabilities and Financial Instruments Subject to Mandatory Redemption [Abstract] | ' | ||||||||
Lease Inducements [Table Text Block] | ' | ||||||||
30-Jun-14 | 31-Dec-13 | ||||||||
$ | $ | ||||||||
Current Portion | |||||||||
Rent-free inducement [i] | 55 | 55 | |||||||
Non-repayable leasehold improvement allowance [ii] | 114 | 115 | |||||||
169 | 170 | ||||||||
Repayable leasehold improvement allowance [iii] | 436 | 413 | |||||||
Total Current Portion | 605 | 583 | |||||||
Long-Term Portion | |||||||||
Rent-free inducement [i] | 412 | 439 | |||||||
Non-repayable leasehold improvement allowance [ii] | 869 | 927 | |||||||
1,281 | 1,366 | ||||||||
Repayable leasehold improvement allowance [iii] | 5,445 | 5,669 | |||||||
Total Long-Term Portion | 6,726 | 7,035 | |||||||
Total | 7,331 | 7,618 |
Note_9_Share_Capital_and_Addit1
Note 9 - Share Capital and Additional Paid-in Capital (Tables) | 6 Months Ended | |||||||||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||||||||
Stockholders' Equity Note [Abstract] | ' | |||||||||||||||||||||||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | ' | |||||||||||||||||||||||||||||||
Six Months Ended June 30, | 2014 | 2013 | ||||||||||||||||||||||||||||||
Risk-free interest rates | 2.05 | % | 1.66 | % | ||||||||||||||||||||||||||||
Expected dividend yield | 0 | % | 0 | % | ||||||||||||||||||||||||||||
Expected life (in years) | 5.9 | 5.7 | ||||||||||||||||||||||||||||||
Expected volatility | 126 | % | 123 | % | ||||||||||||||||||||||||||||
Fair value per stock option | $ | 1.31 | $ | 2.68 | ||||||||||||||||||||||||||||
Schedule of Share-based Compensation, Activity [Table Text Block] | ' | |||||||||||||||||||||||||||||||
Range of | Number of | Weighted average | Weighted | Number of options | Weighted | |||||||||||||||||||||||||||
exercise price | shares under | remaining | average exercise | currently | average exercise | |||||||||||||||||||||||||||
option | contractual life | price | exercisable | price | ||||||||||||||||||||||||||||
$ | # | (years) | $ | # | $ | |||||||||||||||||||||||||||
1.02 | - | 1.6 | 872,755 | 8.82 | 1.52 | 251,786 | 1.52 | |||||||||||||||||||||||||
2.2 | 393,447 | 7.76 | 2.2 | 335,964 | 2.2 | |||||||||||||||||||||||||||
3 | - | 3.1 | 186,700 | 8.72 | 3.1 | 154,040 | 3.1 | |||||||||||||||||||||||||
6.8 | - | 8.2 | 1,824 | 1.62 | 7.7 | 911 | 7.7 | |||||||||||||||||||||||||
23 | 636 | 0.45 | 23 | 636 | 23 | |||||||||||||||||||||||||||
1.02 | - | 23 | 1,455,362 | 8.51 | 1.92 | 743,337 | 2.18 | |||||||||||||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | |||||||||||||||||||||||||||||||
Number of optioned | Weighted average | |||||||||||||||||||||||||||||||
common shares | exercise price | |||||||||||||||||||||||||||||||
# | $ | |||||||||||||||||||||||||||||||
Balance, December 31, 2013 | 1,130,628 | 2.08 | ||||||||||||||||||||||||||||||
Options granted | 369,850 | 1.49 | ||||||||||||||||||||||||||||||
Options forfeited | (45,116 | ) | 2.39 | |||||||||||||||||||||||||||||
Balance, June 30, 2014 | 1,455,362 | 1.92 | ||||||||||||||||||||||||||||||
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | ' | |||||||||||||||||||||||||||||||
Number | Weighted average | |||||||||||||||||||||||||||||||
of RSUs | exercise price | |||||||||||||||||||||||||||||||
# | $ | |||||||||||||||||||||||||||||||
Balance, December 31, 2013 | 98,325 | 1.88 | ||||||||||||||||||||||||||||||
RSUs granted | 49,863 | 1.45 | ||||||||||||||||||||||||||||||
RSUs converted to common shares | (75,292 | ) | (1.86 | ) | ||||||||||||||||||||||||||||
Balance, June 30, 2014 | 72,896 | 1.59 | ||||||||||||||||||||||||||||||
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | ' | |||||||||||||||||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||||||||||||||||||
June 30, | 30-Jun | |||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||
$ | $ | $ | $ | |||||||||||||||||||||||||||||
Cost of sales | 9 | 10 | 18 | 15 | ||||||||||||||||||||||||||||
Research and development | 11 | 13 | 23 | 22 | ||||||||||||||||||||||||||||
General and administrative | 50 | 148 | 169 | 262 | ||||||||||||||||||||||||||||
Sales and marketing | 12 | 10 | 23 | 17 | ||||||||||||||||||||||||||||
82 | 181 | 233 | 316 | |||||||||||||||||||||||||||||
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | ' | |||||||||||||||||||||||||||||||
Number of | Weighted average | |||||||||||||||||||||||||||||||
warrants | exercise price | |||||||||||||||||||||||||||||||
# | $ | |||||||||||||||||||||||||||||||
Balance, December 31, 2013 | 86,757,990 | 0.1088 | ||||||||||||||||||||||||||||||
Warrants issued | 52,796 | 1.831 | ||||||||||||||||||||||||||||||
Balance, June 30, 2014 | 86,810,786 | 0.1019 | ||||||||||||||||||||||||||||||
Estimated Fair Value of Warrants Issued, Valuation Assumptions [Table Text Block] | ' | |||||||||||||||||||||||||||||||
As at June 30, | 2014 | 2013 | ||||||||||||||||||||||||||||||
Risk-free interest rates | 1.09 | % | 1.65 | % | ||||||||||||||||||||||||||||
Expected dividend yield | 0 | % | 0 | % | ||||||||||||||||||||||||||||
Expected life (in years) | 2.5 | 3.5 | ||||||||||||||||||||||||||||||
Expected volatility | 124 | % | 132 | % | ||||||||||||||||||||||||||||
Fair value of warrant | $ | 0.0508 | $ | 0.0957 | ||||||||||||||||||||||||||||
Schedule of Weighted Average Number of Shares [Table Text Block] | ' | |||||||||||||||||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||||||||||||||||||
June 30, | June 30, | |||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||
$ | $ | $ | $ | |||||||||||||||||||||||||||||
Numerator: | ||||||||||||||||||||||||||||||||
Net income (loss) | $ | 288 | $ | 3,343 | $ | (1,235 | ) | $ | (6,621 | ) | ||||||||||||||||||||||
Unrealized gain on revaluation of warrant liability | - | (4,470 | ) | - | - | |||||||||||||||||||||||||||
Net income (loss) available to common shareholders | $ | 288 | $ | (1,127 | ) | $ | (1,235 | ) | $ | (6,621 | ) | |||||||||||||||||||||
Denominator: | ||||||||||||||||||||||||||||||||
Weighted average number of common shares outstanding - basic | 7,944,235 | 6,574,358 | 7,912,580 | 6,536,494 | ||||||||||||||||||||||||||||
Weighted average effect of dilutive securities: | ||||||||||||||||||||||||||||||||
Warrants | - | 2,311,191 | - | - | ||||||||||||||||||||||||||||
RSUs | 72,896 | - | - | - | ||||||||||||||||||||||||||||
Stock options | 6,044 | - | - | - | ||||||||||||||||||||||||||||
Weighted average number of common shares outstanding - diluted | 8,023,175 | 8,885,549 | 7,912,580 | 6,536,494 |
Note_11_Segmented_Information_
Note 11 - Segmented Information (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block] | ' | ||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
June 30, | 30-Jun | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
$ | $ | $ | $ | ||||||||||||||
China | 1,882 | 1,806 | 3,407 | 3,918 | |||||||||||||
United States | 521 | 392 | 731 | 1,158 | |||||||||||||
Asia (excluding China) | 127 | 201 | 282 | 359 | |||||||||||||
Europe | 284 | 261 | 712 | 580 | |||||||||||||
Canada | 6 | 21 | 10 | 28 | |||||||||||||
Other | 257 | 67 | 494 | 266 | |||||||||||||
Total | 3,077 | 2,748 | 5,636 | 6,309 | |||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ' | ||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
June 30, | 30-Jun | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
$ | $ | $ | $ | ||||||||||||||
Cardiovascular | 2,609 | 2,389 | 5,047 | 5,235 | |||||||||||||
Infectious Diseases | 3 | - | 72 | 455 | |||||||||||||
Biodefense products | 131 | 126 | 175 | 251 | |||||||||||||
West Nile Virus (Environmental) | 334 | 233 | 342 | 368 | |||||||||||||
Total | 3,077 | 2,748 | 5,636 | 6,309 |
Note_2_Basis_of_Presentation_a1
Note 2 - Basis of Presentation and Going Concern Uncertainty (Details) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Feb. 11, 2014 | |
CAD | CAD | CAD | CAD | CAD | CAD | Secured Debt [Member] | |
Silicon Valley Bank [Member] | |||||||
USD ($) | |||||||
Note 2 - Basis of Presentation and Going Concern Uncertainty (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Net Income (Loss) Attributable to Parent | 288,000 | 3,343,000 | -1,235,000 | -6,621,000 | -5,998,000 | ' | ' |
Net Cash Provided by (Used in) Operating Activities | ' | ' | -1,526,000 | -512,000 | ' | ' | ' |
Cash and Cash Equivalents, at Carrying Value | 2,611,000 | 1,340,000 | 2,611,000 | 1,340,000 | 2,958,000 | 2,080,000 | ' |
Retained Earnings (Accumulated Deficit) | -119,404,000 | ' | -119,404,000 | ' | -118,169,000 | ' | ' |
Stockholders' Equity Attributable to Parent | -2,339,000 | ' | -2,339,000 | ' | -1,482,000 | 321,000 | ' |
Working Capital Deficit | 2,000,000 | ' | 2,000,000 | ' | ' | ' | ' |
Derivative Liability, Current | 4,373,000 | ' | 4,373,000 | ' | 5,251,000 | ' | ' |
Working Capital if Excluding Warrant Liability | 2,400,000 | ' | 2,400,000 | ' | ' | ' | ' |
Debt Instrument, Face Amount (in Dollars) | ' | ' | ' | ' | ' | ' | $2,500,000 |
Note_4_Fair_Value_Measurements2
Note 4 - Fair Value Measurements (Details) (CAD) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2014 | Dec. 31, 2013 | |
Note 4 - Fair Value Measurements (Details) [Line Items] | ' | ' |
Fair Value Inputs, Discount Rate | 11.00% | ' |
Derivative Liability, Current | 4,373,000 | 5,251,000 |
Warrant [Member] | Pro Forma [Member] | ' | ' |
Note 4 - Fair Value Measurements (Details) [Line Items] | ' | ' |
Increase (Decrease) in Derivative Liabilities | 125,000 | 100,000 |
Pro Forma [Member] | ' | ' |
Note 4 - Fair Value Measurements (Details) [Line Items] | ' | ' |
Increase (Decrease) in Stock Price Volatility Affecting Warrant Liability | 5.00% | ' |
Note_4_Fair_Value_Measurements3
Note 4 - Fair Value Measurements (Details) - Financial Instrument Carried at Fair Value (CAD) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Warrant Liability | 4,373 | 5,251 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Warrant Liability | 4,373 | ' |
Note_4_Fair_Value_Measurements4
Note 4 - Fair Value Measurements (Details) - Changes in Fair Value of the Level 3 Financial Liabilities (CAD) | 3 Months Ended | 6 Months Ended | |||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 |
Note 4 - Fair Value Measurements (Details) - Changes in Fair Value of the Level 3 Financial Liabilities [Line Items] | ' | ' | ' | ' | ' |
Warrant Liability | 4,373 | ' | 4,373 | ' | 5,251 |
Warrant Liability | -1,039 | -4,470 | -878 | 5,105 | ' |
Warrant [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' | ' | ' | ' |
Note 4 - Fair Value Measurements (Details) - Changes in Fair Value of the Level 3 Financial Liabilities [Line Items] | ' | ' | ' | ' | ' |
Warrant Liability | 4,373 | ' | 4,373 | ' | 5,251 |
Warrant Liability | ' | ' | -878 | ' | ' |
Fair Value, Inputs, Level 3 [Member] | ' | ' | ' | ' | ' |
Note 4 - Fair Value Measurements (Details) - Changes in Fair Value of the Level 3 Financial Liabilities [Line Items] | ' | ' | ' | ' | ' |
Warrant Liability | 4,373 | ' | 4,373 | ' | ' |
Note_4_Fair_Value_Measurements5
Note 4 - Fair Value Measurements (Details) - Quantitative Information about Unobservable Inputs (Warrant [Member]) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2014 | Dec. 31, 2013 | |
Warrant [Member] | ' | ' |
Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ' | ' |
Warrant Liability | 'Option Model | ' |
Warrant Liability | 124.00% | 140.00% |
Note_5_Inventories_Details
Note 5 - Inventories (Details) (CAD) | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | |
Expired and Damaged [Member] | Expired and Damaged [Member] | |||||
Note 5 - Inventories (Details) [Line Items] | ' | ' | ' | ' | ' | ' |
Inventory Valuation Reserves | ' | ' | ' | ' | 74,000 | 60,000 |
Inventory Write-down | 57,000 | 111,000 | 122,000 | 163,000 | ' | ' |
Note_5_Inventories_Details_Inv
Note 5 - Inventories (Details) - Inventory (CAD) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Inventory [Abstract] | ' | ' |
Raw materials | 1,323 | 1,155 |
Work in progress | 551 | 198 |
Finished goods | 700 | 897 |
2,574 | 2,250 |
Note_6_Accounts_Payable_and_Ac2
Note 6 - Accounts Payable and Accrued Liabilities (Details) (CAD) | Jun. 30, 2014 |
Deferred Financing Costs [Member] | ' |
Note 6 - Accounts Payable and Accrued Liabilities (Details) [Line Items] | ' |
Accrued Liabilities and Other Liabilities | 14,000 |
Additions to PPE [Member] | ' |
Note 6 - Accounts Payable and Accrued Liabilities (Details) [Line Items] | ' |
Accrued Liabilities and Other Liabilities | 5,000 |
Note_6_Accounts_Payable_and_Ac3
Note 6 - Accounts Payable and Accrued Liabilities (Details) - Accounts Payable and Accrued Liabilities (CAD) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Accounts Payable and Accrued Liabilities [Abstract] | ' | ' |
Trade accounts payable | 1,041 | 1,232 |
Employee related accounts payable and accrued liabilities | 775 | 913 |
Royalties | 188 | 172 |
Other accrued liabilities | 722 | 410 |
2,726 | 2,727 |
Note_7_Long_Term_Debt_Details
Note 7 - Long Term Debt (Details) (CAD) | 0 Months Ended | 3 Months Ended | 6 Months Ended |
Feb. 11, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | |
Note 7 - Long Term Debt (Details) [Line Items] | ' | ' | ' |
Unrestricted Cash and Net Accounts Receivable to Aggregate Amount Owed Ratio | 1.15 | ' | ' |
Amortization of Debt Discount (Premium) | ' | ' | 14,000 |
Amortization of Financing Costs | ' | ' | 42,000 |
Silicon Valley Bank [Member] | ' | ' | ' |
Note 7 - Long Term Debt (Details) [Line Items] | ' | ' | ' |
Class of Warrant or Right, Outstanding (in Shares) | 52,796 | ' | ' |
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share) | 1.831 | ' | ' |
Fair Value Assumptions, Risk Free Interest Rate | 2.04% | ' | ' |
Fair Value Assumptions, Expected Dividend Rate | 0.00% | ' | ' |
Fair Value Assumptions, Expected Term | '10 years | ' | ' |
Fair Value Assumptions, Expected Volatility Rate | 110.00% | ' | ' |
Fair Value of Warrant | 73,000 | ' | ' |
Effective Date through May 31, 2014 [Member] | ' | ' | ' |
Note 7 - Long Term Debt (Details) [Line Items] | ' | ' | ' |
Debt Instrument, Covenant, Minimum Trailing Revenue Target | 1,500,000 | ' | ' |
June 30, 2014 through August 31, 2014 [Member] | ' | ' | ' |
Note 7 - Long Term Debt (Details) [Line Items] | ' | ' | ' |
Debt Instrument, Covenant, Minimum Trailing Revenue Target | 2,500,000 | ' | ' |
September 30, 2014 through November 30, 2014 [Member] | ' | ' | ' |
Note 7 - Long Term Debt (Details) [Line Items] | ' | ' | ' |
Debt Instrument, Covenant, Minimum Trailing Revenue Target | 3,000,000 | ' | ' |
As at December 31, 2014 [Member] | ' | ' | ' |
Note 7 - Long Term Debt (Details) [Line Items] | ' | ' | ' |
Debt Instrument, Covenant, Minimum Trailing Revenue Target | 3,750,000 | ' | ' |
Future Event, Beginning October 1, 2014 [Member] | Silicon Valley Bank [Member] | ' | ' | ' |
Note 7 - Long Term Debt (Details) [Line Items] | ' | ' | ' |
Debt Instrument, Periodic Payment, Number of Installments | 32 | ' | ' |
Tranche 1 [Member] | Silicon Valley Bank [Member] | ' | ' | ' |
Note 7 - Long Term Debt (Details) [Line Items] | ' | ' | ' |
Debt Instrument, Face Amount | 1,500,000 | ' | ' |
Tranche 2 [Member] | Silicon Valley Bank [Member] | ' | ' | ' |
Note 7 - Long Term Debt (Details) [Line Items] | ' | ' | ' |
Debt Instrument, Face Amount | 1,000,000 | ' | ' |
Prime Rate [Member] | Silicon Valley Bank [Member] | ' | ' | ' |
Note 7 - Long Term Debt (Details) [Line Items] | ' | ' | ' |
Debt Instrument, Basis Spread on Variable Rate | 2.50% | ' | ' |
Silicon Valley Bank [Member] | ' | ' | ' |
Note 7 - Long Term Debt (Details) [Line Items] | ' | ' | ' |
Debt Instrument, Face Amount | 2,500,000 | ' | ' |
Debt Issuance Cost | 224,000 | ' | ' |
Amortization of Debt Discount (Premium) | ' | 9,000 | 14,000 |
Amortization of Financing Costs | ' | 29,000 | 42,000 |
Note_7_Long_Term_Debt_Details_
Note 7 - Long Term Debt (Details) - Summary of Long Term Debt (CAD) | Jun. 30, 2014 |
In Thousands, unless otherwise specified | |
Summary of Long Term Debt [Abstract] | ' |
Current portion of long-term debt | 426 |
Current portion of unamortized debt discount | -33 |
Current portion of long-term debt, net of debt discount | 393 |
Long-term portion of long-term debt | 1,176 |
Long-term portion of unamortized debt discount | -26 |
Long-term of long-term debt, net of debt discount | 1,150 |
Total | 1,543 |
Note_8_Lease_Inducements_Detai
Note 8 - Lease Inducements (Details) (CAD) | 3 Months Ended | 6 Months Ended | 181 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Apr. 30, 2023 | |
Note 8 - Lease Inducements (Details) [Line Items] | ' | ' | ' | ' | ' |
Interest Expense | 226,000 | 175,000 | 423,000 | 351,000 | ' |
Letter of Credit [Member] | ' | ' | ' | ' | ' |
Note 8 - Lease Inducements (Details) [Line Items] | ' | ' | ' | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | 871,000 | ' | 871,000 | ' | ' |
Line of Credit Facility, Collateral | ' | ' | ' | ' | '$871,000 |
Lease Incentive One [Member] | ' | ' | ' | ' | ' |
Note 8 - Lease Inducements (Details) [Line Items] | ' | ' | ' | ' | ' |
Amortization of Lease Incentives, Lessee | 13,000 | 14,000 | 27,000 | 27,000 | ' |
Lease Incentive Two [Member] | ' | ' | ' | ' | ' |
Note 8 - Lease Inducements (Details) [Line Items] | ' | ' | ' | ' | ' |
Amortization of Lease Incentives, Lessee | 28,000 | 29,000 | 57,000 | 57,000 | ' |
Allowance for Leasehold Improvement, Non-repayable | ' | ' | ' | ' | 1,700,000 |
Lease Incentive Three [Member] | Monthly [Member] | ' | ' | ' | ' | ' |
Note 8 - Lease Inducements (Details) [Line Items] | ' | ' | ' | ' | ' |
Allowance for Leasehold Improvement, Repayable | ' | ' | ' | ' | 89,000 |
Lease Incentive Three [Member] | ' | ' | ' | ' | ' |
Note 8 - Lease Inducements (Details) [Line Items] | ' | ' | ' | ' | ' |
Amortization of Lease Incentives, Lessee | 102,000 | 91,000 | 201,000 | 180,000 | ' |
Allowance for Leasehold Improvement, Repayable | ' | ' | ' | ' | 7,800,000 |
Interest Expense | 164,000 | 177,000 | 330,000 | 351,000 | ' |
Note_8_Lease_Inducements_Detai1
Note 8 - Lease Inducements (Details) - Summary of Lease Inducements (CAD) | Jun. 30, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Current Portion | ' | ' | ||
Lease Incentive Payable, Current | 169 | 170 | ||
Repayable leasehold improvement allowance [iii] | 436 | [1] | 413 | [1] |
Total Current Portion | 605 | 583 | ||
Long-Term Portion | ' | ' | ||
Lease Incentive Payable, Noncurrent | 1,281 | 1,366 | ||
Repayable leasehold improvement allowance [iii] | 5,445 | [1] | 5,669 | [1] |
Total Long-Term Portion | 6,726 | 7,035 | ||
Total | 7,331 | 7,618 | ||
Rent-free Inducement [Member] | ' | ' | ||
Current Portion | ' | ' | ||
Lease Incentive Payable, Current | 55 | [2] | 55 | [2] |
Long-Term Portion | ' | ' | ||
Lease Incentive Payable, Noncurrent | 412 | [2] | 439 | [2] |
Non-repayable Leasehold Improvement Allowance [Member] | ' | ' | ||
Current Portion | ' | ' | ||
Lease Incentive Payable, Current | 114 | [3] | 115 | [3] |
Long-Term Portion | ' | ' | ||
Lease Incentive Payable, Noncurrent | 869 | [3] | 927 | [3] |
[1] | The Company received a repayable leasehold improvement allowance for an amount of $7.8 million used for additional improvements to the facility. This lease inducement is being repaid over the term of the operating lease commencing February 1, 2008 at approximately $89,000 per month including interest calculated at an interest rate negotiated between the Company and the landlord. Principal repayments for the three and six month period ended June 30, 2014 amounted to $102,000 and $201,000 [2013 - $91,000 and $180,000]. Interest payments for the three and six month period ended June 30, 2014 amounted to $164,000 and $330,000 [2013 - $177,000 and $351,000]. | |||
[2] | In 2007, the Company entered into a long-term facility lease agreement that included an eight and one half month rent-free period from May 17, 2007 to February 1, 2008. The lease inducement benefit arising from the rent-free period is being amortized on a straight-line basis over the term of the operating lease as a reduction to rental expense. Amortization expense for the three and six month period ended June 30, 2014 amounted to $13,000 and $27,000 [2013 - $14,000 and $27,000]. | |||
[3] | The Company received a non-repayable allowance for an amount of $1.7 million for expenditures related to general upgrades to the facility. The lease inducement benefit arising from the non-repayable leasehold improvement allowance is being amortized on a straight-line basis over the balance of the term of the lease beginning April 1, 2008 as a reduction to rental expense. Amortization expense for the three and six month period ended June 30, 2014 amounted to $28,000 and $57,000 [2013 - $29,000 and $57,000]. |
Note_9_Share_Capital_and_Addit2
Note 9 - Share Capital and Additional Paid-in Capital (Details) (CAD) | 0 Months Ended | 6 Months Ended | 12 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 0 Months Ended | |||||||||||||
Nov. 07, 2013 | Sep. 03, 2008 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Feb. 11, 2014 | Jun. 30, 2014 | Nov. 07, 2013 | Dec. 31, 2013 | Jun. 30, 2014 | Nov. 07, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Nov. 07, 2013 | |
Warrant [Member] | Warrant [Member] | Warrant [Member] | Equity Option [Member] | Equity Option [Member] | Equity Option [Member] | Equity Option [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Related to 2011 Financing [Member] | Agent Warrants [Member] | Silicon Valley Bank [Member] | Silicon Valley Bank [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Warrant [Member] | Warrant [Member] | Restricted Stock Units (RSUs) [Member] | Deferred Share Unit Plan (DSUs) [Member] | Private Placement [Member] | |||||
Common Stock [Member] | Warrant [Member] | Private Placement [Member] | ||||||||||||||||||||||||
Note 9 - Share Capital and Additional Paid-in Capital (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares Issued during Period in Private Placement | 1,273,117 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,273,117 | ' | ' | ' | ' | ' | ' |
Sale of Stock, Price Per Share (in Dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.45 |
Stock Issued During Period Value Private Placement, Gross (in Dollars) | 3,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.45 | 1.831 | 1.831 | 3.58 | ' | ' | ' | ' | 1.492 | ' | ' | 3.58 |
Stock Issued during Period Value Private Placement, Net (in Dollars) | 2,800,000 | ' | ' | 2,750,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,100,000 | 2,055,000 | ' | 677,000 | ' | ' | ' | ' |
Payments of Stock Issuance Costs (in Dollars) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 388,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | ' | '4 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | ' | ' | 1,589,237 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 198,654 | 198,654 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | ' | ' | 133,875 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 125,758 | ' | ' |
Stock Issued During Period, Value, Restricted Stock Award, Gross (in Dollars) | ' | ' | 72,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options (in Dollars) | ' | ' | 753,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | ' | ' | '1 year 233 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right, Outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 86,103,744 | 17,689 | 52,796 | 52,796 | 636,557 | ' | ' | 86,810,786 | ' | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | ' | ' | ' | ' | 86,810,786 | 86,810,786 | 86,103,744 | 1,422,632 | 1,180,259 | 1,455,362 | 1,180,259 | 53,258 | 72,896 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note_9_Share_Capital_and_Addit3
Note 9 - Share Capital and Additional Paid-in Capital (Details) - Share-based Payment Award, Stock Options, Valuation Assumptions (CAD) | 6 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
Share-based Payment Award, Stock Options, Valuation Assumptions [Abstract] | ' | ' |
Risk-free interest rates | 2.05% | 1.66% |
Expected dividend yield | 0.00% | 0.00% |
Expected life (in years) | '5 years 328 days | '5 years 255 days |
Expected volatility | 126.00% | 123.00% |
Fair value per stock option (in Dollars per share) | 1.31 | 2.68 |
Note_9_Share_Capital_and_Addit4
Note 9 - Share Capital and Additional Paid-in Capital (Details) - Stock Options, Outstanding (CAD) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 |
Range One [Member] | Range Two [Member] | Range Three [Member] | Range Four [Member] | Range Five [Member] | Range Six [Member] | |||
Note 9 - Share Capital and Additional Paid-in Capital (Details) - Stock Options, Outstanding [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Range of exercise price | 1.92 | 2.08 | ' | 2.2 | ' | ' | 23 | ' |
Number of shares under option (in Shares) | ' | ' | 872,755 | 393,447 | 186,700 | 1,824 | 636 | 1,455,362 |
Range of exercise price, upper | ' | ' | 1.6 | ' | 3.1 | 8.2 | ' | 23 |
Weighted average remaing contractual life | ' | ' | '8 years 299 days | '7 years 277 days | '8 years 262 days | '1 year 226 days | '164 days | '8 years 186 days |
Weighted average exercise price | ' | ' | 1.52 | 2.2 | 3.1 | 7.7 | 23 | 1.92 |
Number of options currently exercisable (in Shares) | ' | ' | 251,786 | 335,964 | 154,040 | 911 | 636 | 743,337 |
Range of exercise price, lower | ' | ' | 1.02 | ' | 3 | 6.8 | ' | 1.02 |
Weighted average exercise price, exercisable | ' | ' | 1.52 | 2.2 | 3.1 | 7.7 | 23 | 2.18 |
Note_9_Share_Capital_and_Addit5
Note 9 - Share Capital and Additional Paid-in Capital (Details) - Stock Options, Activity (CAD) | 6 Months Ended | |
Jun. 30, 2014 | Dec. 31, 2013 | |
Stock Options, Activity [Abstract] | ' | ' |
Balance | 1,455,362 | 1,130,628 |
Balance, Weighted-average exercise price | 1.92 | 2.08 |
Options granted | 369,850 | ' |
Options granted | 1.49 | ' |
Options forfeited | -45,116 | ' |
Options forfeited | 2.39 | ' |
Note_9_Share_Capital_and_Addit6
Note 9 - Share Capital and Additional Paid-in Capital (Details) - Restricted Share Unit Plan (CAD) | 6 Months Ended | |
Jun. 30, 2014 | Dec. 31, 2013 | |
Note 9 - Share Capital and Additional Paid-in Capital (Details) - Restricted Share Unit Plan [Line Items] | ' | ' |
Balance, Weighted-average exercise price | 1.92 | 2.08 |
RSUs granted | 1.49 | ' |
Restricted Stock Units (RSUs) [Member] | ' | ' |
Note 9 - Share Capital and Additional Paid-in Capital (Details) - Restricted Share Unit Plan [Line Items] | ' | ' |
Balance | 72,896 | 98,325 |
Balance, Weighted-average exercise price | 1.59 | 1.88 |
RSUs granted | 49,863 | ' |
RSUs granted | 1.45 | ' |
RSUs converted to common shares | -75,292 | ' |
RSUs converted to common shares | -1.86 | ' |
Note_9_Share_Capital_and_Addit7
Note 9 - Share Capital and Additional Paid-in Capital (Details) - Allocation of Stock-based Compensation, by Type of Cost (CAD) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ' | ' | ' | ' |
Share based compensation expense | 82 | 181 | 233 | 316 |
Cost of Sales [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ' | ' | ' | ' |
Share based compensation expense | 9 | 10 | 18 | 15 |
Research and Development Expense [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ' | ' | ' | ' |
Share based compensation expense | 11 | 13 | 23 | 22 |
General and Administrative Expense [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ' | ' | ' | ' |
Share based compensation expense | 50 | 148 | 169 | 262 |
Selling and Marketing Expense [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ' | ' | ' | ' |
Share based compensation expense | 12 | 10 | 23 | 17 |
Note_9_Share_Capital_and_Addit8
Note 9 - Share Capital and Additional Paid-in Capital (Details) - Warrants Activities (Warrant [Member], CAD) | 6 Months Ended | |
Jun. 30, 2014 | Dec. 31, 2013 | |
Warrant [Member] | ' | ' |
Class of Warrant or Right [Line Items] | ' | ' |
Number of warrants | 86,810,786 | 86,757,990 |
Weighted average exercise price | 0.1019 | 0.1088 |
Warrants issued | 52,796 | ' |
Warrants issued | 1.831 | ' |
Note_9_Share_Capital_and_Addit9
Note 9 - Share Capital and Additional Paid-in Capital (Details) - Estimated Fair Value of Warrants Issued (Warrant [Member], CAD) | 6 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
Warrant [Member] | ' | ' |
Note 9 - Share Capital and Additional Paid-in Capital (Details) - Estimated Fair Value of Warrants Issued [Line Items] | ' | ' |
Risk-free interest rates | 1.09% | 1.65% |
Expected dividend yield | 0.00% | 0.00% |
Expected life (in years) | '2 years 6 months | '3 years 6 months |
Expected volatility | 124.00% | 132.00% |
Fair value of warrant (in Dollars) | 0.0508 | 0.0957 |
Recovered_Sheet1
Note 9 - Share Capital and Additional Paid-in Capital (Details) - Reconciliation of Weighted Average Number of Common Shares Outstanding (CAD) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 |
Numerator: | ' | ' | ' | ' | ' |
Net income (loss) (in Dollars) | 288 | 3,343 | -1,235 | -6,621 | -5,998 |
Unrealized gain on revaluation of warrant liability (in Dollars) | 1,039 | 4,470 | 878 | -5,105 | ' |
Net income (loss) available to common shareholders (in Dollars) | 288 | -1,127 | -1,235 | -6,621 | ' |
Denominator: | ' | ' | ' | ' | ' |
Weighted average number of common shares outstanding - basic | 7,944,235 | 6,574,358 | 7,912,580 | 6,536,494 | ' |
Weighted average effect of dilutive securities: | ' | ' | ' | ' | ' |
Weighted average number of common shares outstanding - diluted | 8,023,175 | 8,885,549 | 7,912,580 | 6,536,494 | ' |
Warrant [Member] | ' | ' | ' | ' | ' |
Weighted average effect of dilutive securities: | ' | ' | ' | ' | ' |
Weighted average effect of dilutive securities | ' | 2,311,191 | ' | ' | ' |
RSUs [Member] | ' | ' | ' | ' | ' |
Weighted average effect of dilutive securities: | ' | ' | ' | ' | ' |
Weighted average effect of dilutive securities | 72,896 | ' | ' | ' | ' |
Employee Stock Option [Member] | ' | ' | ' | ' | ' |
Weighted average effect of dilutive securities: | ' | ' | ' | ' | ' |
Weighted average effect of dilutive securities | 6,044 | ' | ' | ' | ' |
Note_10_Commitments_Details
Note 10 - Commitments (Details) | 3 Months Ended | 6 Months Ended | 24 Months Ended | 54 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 180 Months Ended | |||||||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2007 | Jun. 30, 2014 | Jun. 30, 2009 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jan. 31, 2023 | |
CAD | CAD | CAD | CAD | CAD | USD ($) | USD ($) | West Nile Virus [Member] | West Nile Virus [Member] | West Nile Virus [Member] | West Nile Virus [Member] | Developed Technology Rights [Member] | Developed Technology Rights [Member] | Developed Technology Rights [Member] | Developed Technology Rights [Member] | Monthly [Member] | |
CAD | CAD | CAD | CAD | CAD | CAD | CAD | CAD | CAD | ||||||||
Note 10 - Commitments (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Royalty Expense | 0 | 5,000 | 0 | 10,000 | 2,000,000 | ' | ' | 31,000 | 22,000 | 31,000 | 35,000 | 157,000 | 176,000 | 274,000 | 371,000 | ' |
Royalty Guarantees, Commitments, Amount (in Dollars) | ' | ' | ' | ' | ' | ' | 85,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Quarterly License Fee Payment (in Dollars) | ' | ' | ' | ' | ' | 5,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Leases, Rent Expense, Net | 186,000 | 206,000 | 389,000 | 405,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 171,000 |
Purchase Obligation | 1,600,000 | ' | 1,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase Obligation, Future Minimum Payments, Remainder of Fiscal Year | 876,000 | ' | 876,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note_11_Segmented_Information_1
Note 11 - Segmented Information (Details) (CAD) | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | |||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2014 |
Four Customers [Member] | Four Customers [Member] | Four Customers [Member] | Four Customers [Member] | Customer A [Member] | Customer A [Member] | Two Customers [Member] | Two Customers [Member] | Sales Revenue, Goods, Net [Member] | |
Sales Revenue, Goods, Net [Member] | Sales Revenue, Goods, Net [Member] | Sales Revenue, Goods, Net [Member] | Sales Revenue, Goods, Net [Member] | Minimum [Member] | |||||
Customer Concentration Risk [Member] | |||||||||
Note 11 - Segmented Information (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Concentration Risk, Percentage | 72.00% | 71.00% | ' | ' | 55.00% | ' | 61.00% | ' | 10.00% |
Revenues (in Dollars) | ' | ' | 2.2 | 4 | ' | 1.5 | ' | 3.9 | ' |
Note_11_Segmented_Information_2
Note 11 - Segmented Information (Details) - Product Sales by Customer Location (CAD) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Note 11 - Segmented Information (Details) - Product Sales by Customer Location [Line Items] | ' | ' | ' | ' |
Product sales | 3,077 | 2,748 | 5,636 | 6,309 |
CHINA | ' | ' | ' | ' |
Note 11 - Segmented Information (Details) - Product Sales by Customer Location [Line Items] | ' | ' | ' | ' |
Product sales | 1,882 | 1,806 | 3,407 | 3,918 |
UNITED STATES | ' | ' | ' | ' |
Note 11 - Segmented Information (Details) - Product Sales by Customer Location [Line Items] | ' | ' | ' | ' |
Product sales | 521 | 392 | 731 | 1,158 |
Asia (excluding China) [Member] | ' | ' | ' | ' |
Note 11 - Segmented Information (Details) - Product Sales by Customer Location [Line Items] | ' | ' | ' | ' |
Product sales | 127 | 201 | 282 | 359 |
Europe [Member] | ' | ' | ' | ' |
Note 11 - Segmented Information (Details) - Product Sales by Customer Location [Line Items] | ' | ' | ' | ' |
Product sales | 284 | 261 | 712 | 580 |
CANADA | ' | ' | ' | ' |
Note 11 - Segmented Information (Details) - Product Sales by Customer Location [Line Items] | ' | ' | ' | ' |
Product sales | 6 | 21 | 10 | 28 |
Segment, Geographical, Groups of Countries, Group Three [Member] | ' | ' | ' | ' |
Note 11 - Segmented Information (Details) - Product Sales by Customer Location [Line Items] | ' | ' | ' | ' |
Product sales | 257 | 67 | 494 | 266 |
Note_11_Segmented_Information_3
Note 11 - Segmented Information (Details) - Product Sales by Type of Product (CAD) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Product sales | 3,077 | 2,748 | 5,636 | 6,309 |
Cardiovascular [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Product sales | 2,609 | 2,389 | 5,047 | 5,235 |
Infectious Diseases [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Product sales | 3 | ' | 72 | 455 |
Bio-defense Products [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Product sales | 131 | 126 | 175 | 251 |
West Nile Virus [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Product sales | 334 | 233 | 342 | 368 |