Cover Page
Cover Page | 6 Months Ended |
Jun. 30, 2020 | |
Cover [Abstract] | |
Document Type | 6-K |
Amendment Flag | false |
Document period end date | Jun. 30, 2020 |
Document Fiscal Year Focus | 2020 |
Document Fiscal Period Focus | Q2 |
Entity Registrant Name | TITAN MEDICAL INC |
Entity Central Index Key | 0000840551 |
Current Fiscal Year End Date | --12-31 |
Unaudited Condensed Interim Con
Unaudited Condensed Interim Consolidated Balance Sheets - USD ($) | Jun. 30, 2020 | Dec. 31, 2019 |
Current Assets: | ||
Cash and cash equivalents | $ 28,689,757 | $ 814,492 |
Amounts receivable | 142,819 | 84,097 |
Deposits | 481,400 | 481,400 |
Prepaid expense | 904,145 | 369,453 |
Total Current Assets | 30,218,121 | 1,749,442 |
Right of use assets - Leases | 440,328 | 30,394 |
Patent Rights | 1,688,485 | 1,601,745 |
Total Assets | 32,346,934 | 3,381,581 |
Current Liabilities: | ||
Accounts payable and accrued liabilities | 8,376,796 | 11,412,896 |
Current portion of lease liability | 94,474 | 21,071 |
Warrant liability | 19,770,834 | 3,621,444 |
Total Current Liabilities | 28,242,104 | 15,055,411 |
Note payable | 1,653,822 | |
Long-term lease liability | 367,038 | 8,001 |
Total Liabilities | 30,262,964 | 15,063,412 |
Shareholders' Equity (Deficiency) | ||
Share Capital | 210,101,795 | 194,859,415 |
Contributed Surplus | 8,738,190 | 8,303,527 |
Deficit | (216,756,015) | (214,844,773) |
Shareholders' Equity (Deficiency) | 2,083,970 | (11,681,831) |
Total Liabilities and Deficiency | $ 32,346,934 | $ 3,381,581 |
Unaudited Condensed Interim C_2
Unaudited Condensed Interim Consolidated Statements of Net and Comprehensive Loss - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Profit or loss [abstract] | ||||
Revenue | $ 10,000,000 | $ 10,000,000 | ||
Expenses | ||||
Amortization | 35,475 | 7,291 | 49,570 | 13,466 |
Consulting fees | 83,744 | 451,068 | 195,869 | 720,497 |
Stock based compensation | 206,087 | 740,051 | 434,663 | 991,408 |
Insurance | 122,415 | 116,123 | 245,577 | 234,612 |
Management salaries and fees | 605,277 | 749,880 | 1,146,872 | 1,398,466 |
Marketing and investor relations | 8,843 | 102,487 | 17,487 | 208,676 |
Office and general | 45,955 | 77,136 | 185,842 | 194,407 |
Professional fees | 1,031,457 | 303,460 | 1,389,943 | 406,845 |
Rent | 5,960 | 16,515 | 13,201 | 28,751 |
Research and Development | 121,463 | 18,360,674 | 167,582 | 32,769,286 |
Travel | 1,622 | 80,631 | 12,760 | 147,995 |
Interest charges | 252,542 | 465,239 | ||
Foreign exchange (gain) | 24,580 | 148,689 | (48,923) | 41,047 |
Total expenses | 2,545,420 | 21,154,005 | 4,275,682 | 37,155,456 |
Net Earnings (Loss) from Operations | 7,454,580 | (21,154,005) | 5,724,318 | (37,155,456) |
Finance Income (cost) | ||||
Interest | 4,831 | 71,187 | 6,574 | 94,218 |
Gain on settlement | 1,839,626 | 1,839,626 | ||
Gain (loss) on change in fair value of warrants | (8,782,920) | 6,609,952 | (7,665,444) | (3,866,673) |
Warrant liability issue cost | (1,659,316) | (1,816,316) | (1,827,835) | |
Finance Income (cost) | (8,597,779) | 6,681,139 | (7,635,560) | (5,600,290) |
Net and Comprehensive Loss For the Period | $ (1,143,199) | $ (14,472,866) | $ (1,911,242) | $ (42,755,746) |
Basic and Diluted Loss Per Share | $ (0.02) | $ (0.46) | $ (0.04) | $ (1.57) |
Weighted Average Number of Common Shares Basic and Diluted | 60,764,929 | 31,150,237 | 52,518,608 | 27,190,063 |
Unaudited Condensed Interim C_3
Unaudited Condensed Interim Consolidated Statements of Shareholders' Equity and Deficit - USD ($) | Share Capital [Member] | Contributed Surplus [Member] | Net Income (Deficit) [Member] | Total | |
Beginning balance at Dec. 31, 2018 | $ 170,502,394 | $ 6,652,409 | $ (172,937,694) | $ 4,217,109 | |
Beginning balance, share at Dec. 31, 2018 | 21,675,849 | ||||
Statement Line Items [Line Items] | |||||
Issued pursuant to agency agreement | $ 13,717,131 | 13,717,131 | |||
Issued pursuant to agency agreement, shares | 8,455,882 | ||||
Share issue expense | $ (1,498,498) | (1,498,498) | |||
Warrants exercised during the period | $ 7,002,043 | 7,002,043 | |||
Warrants exercised during the period, shares | 1,018,506 | ||||
Stock based compensation | 991,408 | 991,408 | |||
Net and comprehensive loss | (42,755,746) | (42,755,746) | |||
Ending balance at Jun. 30, 2019 | $ 189,723,070 | 7,643,817 | (215,693,440) | (18,326,553) | |
Ending balance, shares at Jun. 30, 2019 | 31,150,237 | ||||
Beginning balance at Dec. 31, 2019 | $ 194,859,415 | 8,303,527 | (214,844,773) | $ (11,681,831) | |
Beginning balance, share at Dec. 31, 2019 | 39,907,681 | 39,907,681 | |||
Statement Line Items [Line Items] | |||||
Issued pursuant to agency agreement | [1] | $ 12,818,657 | $ 12,818,657 | ||
Issued pursuant to agency agreement, shares | [1] | 23,923,700 | |||
Share issue expense | $ (487,788) | (487,788) | |||
Common stock equivalents converted | $ 800 | 800 | |||
Common stock equivalents converted, shares | 8,000,000 | ||||
Warrants exercised during the period | $ 2,910,711 | 2,910,711 | |||
Warrants exercised during the period, shares | 3,750,000 | ||||
Stock based compensation | 434,663 | 434,663 | |||
Net and comprehensive loss | (1,911,242) | (1,911,242) | |||
Ending balance at Jun. 30, 2020 | $ 210,101,795 | $ 8,738,190 | $ (216,756,015) | $ 2,083,970 | |
Ending balance, shares at Jun. 30, 2020 | 75,581,381 | 75,581,381 | |||
[1] | Includes net proceeds from the issuance of common share equivalents (see note 8a) |
Unaudited Condensed Interim C_4
Unaudited Condensed Interim Consolidated Statements of Cash Flows - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | ||
Operating activities: | |||||
Net loss for the period | $ (1,143,199) | $ (14,472,866) | $ (1,911,242) | $ (42,755,746) | |
Items not involving cash: | |||||
Amortization | 35,475 | 7,291 | 49,570 | 13,466 | |
Stock based compensation | 206,087 | 740,051 | 434,663 | 991,408 | |
Warrant liability-fair value adjustment | 8,782,920 | (6,609,952) | 7,665,444 | 3,866,673 | |
Warrant liability-foreign exchange adjustment | 12,997 | 142,682 | (38,094) | 36,625 | |
Non-cash issue costs | 737,894 | 764,134 | |||
Non-cash settlement included in payables | 1,839,626 | 2,090,200 | |||
Non-cash note payable expenses and accrued interest | 153,822 | 153,822 | |||
Changes in non-cash working capital items: | |||||
Amounts receivable, prepaid expenses and deposits | (766,837) | 1,294,599 | (593,417) | (283,330) | |
Accounts payable and accrued liabilities | (3,647,795) | 5,736,133 | (4,875,714) | 5,783,889 | |
Cash from (used) in operating activities | 6,210,990 | (13,162,062) | 3,739,366 | (32,347,015) | |
Financing activities: | |||||
Net proceeds from issuance of common shares and warrants | [1] | 19,272,277 | (2,997) | 22,749,702 | 31,374,911 |
Proceeds from note payable | 1,500,000 | 1,500,000 | |||
Repayment of lease liabilities | (6,299) | (10,243) | |||
Cash provided by financing activities | 20,765,978 | (2,997) | 24,239,459 | 31,374,911 | |
Investing Activities: | |||||
Additions of patents | (47,430) | (125,198) | (103,560) | (178,956) | |
Cash used in investing activities | (47,430) | (125,198) | (103,560) | (178,956) | |
Increase (Decrease) in cash and cash equivalents | 26,929,538 | (13,290,257) | 27,875,265 | (1,151,060) | |
Cash and cash equivalents, beginning of the period | 1,760,219 | 23,610,440 | 814,492 | 11,471,243 | |
Cash and cash equivalents, end of the period | 28,689,757 | 10,320,183 | 28,689,757 | 10,320,183 | |
Cash and cash equivalents comprise: | |||||
Cash | 970,690 | 1,392,741 | 970,690 | 1,392,741 | |
Cash Equivalents | 27,719,067 | 8,927,442 | 27,719,067 | 8,927,442 | |
Cash and cash equivalents, end of the period | $ 28,689,757 | $ 10,320,183 | $ 28,689,757 | $ 10,320,183 | |
[1] | Includes net proceeds from the issuance of common share equivalents (see note 8a) |
Description of Business
Description of Business | 6 Months Ended |
Jun. 30, 2020 | |
Description Of Business [Abstract] | |
Description of Business | 1. DESCRIPTION OF BUSINESS Nature of Operations: Titan Medical Inc.’s (“Titan” or the “Company”), business continues to be in the research and development stage and is focused on the continued research and development of its single-port robotic surgical system. In the near term, the Company will continue efforts to complete product development and proceed to pre-clinical and confirmatory human studies and satisfaction of appropriate regulatory requirements. Upon receipt of regulatory approvals, the Company will transition from the research and development stage to the commercialization stage. The completion of these latter stages will be subject to the Company receiving additional funding The Company is incorporated in Ontario, Canada in accordance with the Business Corporations Act. The address of the Company’s corporate office and its principal place of business is Toronto, Canada. In June 2020, the Company established a wholly owned subsidiary, Titan Medical USA Inc. (“Titan USA” or “Subsidiary”), a corporation that is duly organized and existing under the laws of Delaware. Basis of Preparation (a) These condensed interim consolidated financial statements for the three and six months ending June 30, 2020, have been prepared in accordance with International Accounts Standards (“IAS”) 34, Interim Financial Reporting, as issued by the International Accounting Standards Board (“IASB”) on a basis consistent with the Company’s 2019 annual financial statements. These condensed interim consolidated financial statements were authorized for issue by the Board of Directors on August 12, 2020. (b) These condensed interim consolidated financial statements have been prepared on the historical cost basis except for the revaluation of the warrant liability, which is measured at fair value. (c) These condensed interim consolidated financial statements incorporate the financial statements of the Company and its wholly owned subsidiary, Titan USA. The accounts of the subsidiary were prepared for the same reporting period as the Company, using consistent accounting policies. Intercompany transactions, balances and unrealized gains or losses on transactions have been eliminated. (d) These condensed interim consolidated financial statements are presented in United States dollars (“U.S.” or “US”), which is the Company’s functional and presentation currency. (e) The preparation of financial statements in conformity with IAS 34, Interim Financial Reporting, requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of provisions at the date of the financial statements and the reported amount of expenses during the period. Financial statement items subject to significant judgement include: the measurement of stock-based compensation, the fair value estimate of the initial measurement of lease and warrant liabilities and the remeasurement of unlisted warrants. While management believes that the estimates and assumptions are reasonable, actual results may differ. These condensed interim financial statements have been prepared in accordance with accounting principles applicable to a going concern, which contemplates that the Company will be able to realize its assets and settle its liabilities as they come due during the normal course of operations for the foreseeable future. The Company has shareholders’ equity of $2,083,970 including losses for the six months ended June 30, 2020 of $1,911,242. The working capital as at June 30, 2020 is $21,746,851, excluding warrant liability. As a result of its recent financing activities, the Company has cash and cash equivalents of $28,689,757 at June 30, 2020. The Company currently does not generate any revenue (other than from its agreements with Medtronic,) as defined herein - see Notes 2 and 7) and interest income on its cash balances) and accordingly, it is primarily dependent upon equity financing for any additional funding required to complete its research and development relating to its single-port robotic surgical system and operating expenses. If additional funding is not available, the pace of the Company’s product development plan may be reduced. These conditions indicate a material uncertainty that may cast significant doubt on the ability of the Company to continue as a going concern if additional funding is not secured. However, management believes that the Company has sufficient funds to meet its obligations under a reduced development plan, if necessary, for the ensuing twelve months. The Black-Scholes model used by the Company to determine fair values of stock options and warrants was developed for use in estimating the fair value of the stock options and warrants. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2020 | |
Summary Of Significant Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (a) Revenue Recognition The Company currently recognizes revenue when it has persuasive evidence of a contract, performance obligations have been identified and satisfied, payment terms have been identified, and it is probable that the Company will collect the consideration it is entitled to. On June 3, 2020, the Company entered into a License Agreement (see note 7) with a U.S. affiliate of Medtronic plc (“Medtronic”), whereby the Company is providing exclusive access to certain IP rights relating to robotic assisted surgical technologies. The Company is accounting for the license fee at the point in time when the rights were transferred. • Revenue from the License Agreement for intellectual property rights and know-how (“Royalty Payment”) is recognized when rights are granted and customer acceptance is established. Compensation received for the performance of technology transfer services relating to the License Agreement is accounted for separately from the Royalty Payment and will be recognized at the time the service is performed. • Revenue from the Development Agreement (see note 7) and the allocation of ownership ad license rights developed under each milestone is recognized when the rights are granted and customer acceptance is established. Under the terms of the Development Agreement, payment is dependent on when the customer confirms completion of each milestone as defined. Due to the uncertainty of milestone achievements and entitlement of payments, the Company recognizes revenue only upon acceptance by the customer of work performed and the milestone achieved. (b) Warrant Liability Certain of the Company’s warrants have exercise prices that are not fixed and, in accordance with IAS 32, must be recorded as a derivative financial liability. This applies both in the case where the Company’s warrants are denominated in a currency (Canadian dollars) other than the Company’s functional currency (U.S. dollars), and when a warrant is issued with a cashless exercise option. In each case, these warrants are initially measured at fair value and subsequent changes in fair value are recorded through Net and Comprehensive Loss for the period. A proportional amount of costs associated with the issue of shares and warrants is allocated to the warrants and recorded through Net and Comprehensive Loss for the period. At each balance sheet date, the Company reviews the classification of each Warrant Liability to determine whether the appropriate classification remains with Liabilities or requires reclassification to Equity. At each balance sheet date, the Warrant Liability of listed warrants is adjusted to fair value measured at the market price of the listed warrants and the Warrant Liability of unlisted warrants is adjusted to fair value using the Black-Scholes model with the change in fair value recorded through Net and Comprehensive Loss for the period. Prior to March 31, 2019, the Black-Sholes model for the unlisted warrants was determined using a comparable warrant quoted in an active market, adjusted for differences in the terms of the warrant. Since March 31, 2019, it was determined that the comparable warrant was no longer an effective benchmark and the Company began to use the market price and volatility of the Company’s common shares adjusted for differences in the terms of the warrant. (c) Fair Value Measurement The accounting guidance for fair value measurements prioritizes the inputs used in measuring fair value into the following hierarchy: Level 1 – Level 2 Level 3 The fair value of the warrant liability relating to listed and unlisted warrants is initially based on Level 2 significant observable inputs and at subsequent dates is adjusted using Level 1 inputs for listed warrants and Level 2 inputs for unlisted warrants. |
Right of Use Assets - Lease
Right of Use Assets - Lease | 6 Months Ended |
Jun. 30, 2020 | |
Presentation of leases for lessee [abstract] | |
Right of Use Assets - Lease | 3. RIGHT OF USE ASSETS – LEASE For the six months ended June 30, 2020 Cost Accumulated Amortization Net Book Value Balance at December 31, 2019 $ 34,172 $ (3,778 ) $ 30,394 Additions during the period 442,684 - 442,684 Amortization in the period - (32,750 ) (32,750 ) Balance at June 30, 2020 $ 476,856 $ (36,528 ) $ 440,328 The Company entered into an 18-month lease for its corporate head office in Toronto, Ontario in November 2019. The Company recognized a right-of-use asset offset by a prepayment and a lease liability in the statement of financial position, initially measured at the present value of future lease payments (net of non-lease general expenses which are expensed as incurred). On September 4, 2019, the Company entered into a lease agreement with a third party to lease certain office space in Chapel Hill, North Carolina. The term of the lease is 62 full months and the average monthly base rent is $8,320. The lease commencement date was April 1, 2020, the date the space was ready-for-use. As of April 1, 2020, the Company recognized a right-of-use asset and a lease liability of $442,684 relating to this lease. For the period ended June 30, 2020, the Company recognized $21,420 of amortization and $6,457 in interest expense relating to this lease and repaid $1,594 of the lease liability. |
Patent Rights
Patent Rights | 6 Months Ended |
Jun. 30, 2020 | |
Patent Rights [Abstract] | |
Patent Rights | 4. For the six months ended June 30, 2020 Cost Accumulated Amortization & Impairment Losses Net Book Value Balance at December 31, 2019 $ 1,856,750 $ (255,005 ) $ 1,601,745 Additions during the period 103,560 - 103,560 Amortization in the period - (16,820 ) (16,820 ) Balance at June 30, 2020 $ 1,960,310 $ (271,825 ) $ 1,688,485 For the six months ended June 30, 2019 Cost Accumulated Amortization & Impairment Losses Net Book Value Balance at December 31, 2018 $ 1,398,713 $ (226,228 ) $ 1,172,485 Additions during the period 178,956 - 178,956 Amortization in the period - (13,466 ) (13,466 ) Balance at June 30, 2019 $ 1,577,669 $ (239,694 ) $ 1,337,975 |
Accounts payable and accrued li
Accounts payable and accrued liabilities | 6 Months Ended |
Jun. 30, 2020 | |
Accounts Payable And Accrued Liabilities [Abstract] | |
Accounts Payable And Accrued Liabilities | 5. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES The balance of accounts payable and accrued liabilities at June 30, 2020 is $8,376,796 (December 31, 2019 – $11,412,896). The majority of the payables relate to amounts owed to the Company’s product development suppliers amounting to $6,185,381, with $1,572,920 relating to insurance, legal and audit and the balance relating to regular business operations. Naglreiter Consulting Litigation In late 2019, the Company became involved in litigation with Naglreiter Consulting, LLC. On June 8, 2020, the Company entered into a settlement agreement pursuant to which (i) a sum of $1,050,000 was paid to Naglreiter, (ii) Naglreiter returned certain personal property and related electronic data in its possession, (iii) and the pending litigation was dismissed. The Company recognized a gain on settlement of $1,839,626 in the period. |
Warrant Liability
Warrant Liability | 6 Months Ended |
Jun. 30, 2020 | |
Warrant Liability [Abstract] | |
Warrant Liability | 6. WARRANT LIABILITY Six Months Ended Year Ended June 30, 2020 December 31, 2019 Number of Warrants Amount Number of Warrants Amount Opening Balance 21,203,411 $ 3,621,444 13,901,859 $ 11,250,167 Issue of warrants expiring March 21, 2024 - - 8,455,882 15,897,059 Issue of warrants expiring March 27, 2025 3,500,000 475,300 - - Issue of warrants expiring November 6, 2025t 2,757,252 508,200 - - Issue of warrants expiring June 10, 2024 9,000,000 9,709,200 - - Warrants exercised during the period (3,750,000 ) (2,170,660 ) (1,018,506 ) (3,742,824 ) Warrants expired during the period - - (135,824 ) - Foreign exchange adjustment during the period - (38,094 ) - 17,687 Fair value adjustment during the period - 7,665,444 - (19,800,645 ) Ending Balance 32,710,663 $ 19,770,834 21,203,411 $ 3,621,444 |
Note Payable
Note Payable | 6 Months Ended |
Jun. 30, 2020 | |
Note Payable | |
Note payable | 7. NOTE PAYABLE On June 3, 2020, the Company entered into a development and license agreement (the “Development Agreement”) with Medtronic in connection with the development of robotic assisted surgical technologies and a separate license agreement (the “License Agreement”) with Medtronic in respect of certain of already developed technologies. On April 28, 2020 , the Company received a $1.5 million loan from Medtronic and, on June 3, 2020, the loan was amended and restated (the “Note”) and the Company executed and delivered a security agreement in favour of Medtronic (the “Security Agreement”). The Note has as principal amount of $1.5 million plus $132,000 equal to certain legal, transaction and intellectual property related expenses incurred by Medtronic pursuant to the Medtronic agreements and will bear interest at the rate of 8% per annum. The unpaid principal balance owing under the Note, together with any accrued and unpaid interest and all other unpaid obligations under the Note, shall be due and The Security Agreement grants a security interest in all of the Company’s present and future property including all personal property, inventory, equipment and intellectual property to the Corporate Lender. In addition, Medtronic’s rights and powers include without limitation (a) exercising and enforcing all rights and remedies of a holder of collateral as if Medtronic were the absolute owner of the collateral, (b) collection of any proceeds arising in respect of all of the Company’s property pledged as security for the loan, (c) license or sublicense, whether on an exclusive or nonexclusive basis, of any of the Company’s intellectual property for such term and on such conditions and in such manner as Medtronic in its sole judgment determines (taking into account such provisions as may be necessary to protect and preserve such intellectual property), and (d) the right to enforce its security in the event of a default which may include the appointment of a receiver by instrument or order of the court. |
Share Capital
Share Capital | 6 Months Ended |
Jun. 30, 2020 | |
Share Capital [Abstract] | |
Share Capital | 8. SHARE CAPITAL a) Authorized: Exercise prices of units, certain warrants and options are presented in Canadian currency when they are exercisable in Canadian dollars unless otherwise noted. June 2020 Offering On June 10, 2020, the Company completed an offering of securities made pursuant to an agency agreement dated March 17, 2020 between the Company and H.C. Wainwright & Co., LLC (“Wainwright”) for the purchase and sale of 6,500,000 common shares (the “Common Shares”), 11,500,000 common share equivalents (each, a “June 2020 Common Share Equivalent”) and 9,000,000 Common Share purchase warrants (each a “June 2020 Common Warrant”) for total gross proceeds of approximately $18,000,000 ($16,500,000 net of closing cash costs including cash commissions described below). The Common Shares, June 2020 Common Share Equivalent and June 2020 Common Warrants were sold in fixed combinations at an offering price of $1.00, consisting of one Common Share and one-half June 2020 Common Warrant or one June 2020 Common Share Equivalent and one-half June 2020 Common Warrant. Each June 2020 Common Warrant is convertible into one Common Share at a conversion price of $1.00 per Common Share for a period of four (4) years following the date of the closing of the offering. Each June 2020 Common Share Equivalent is convertible into one Common Share at a conversion price of $0.0001 and will expire when converted in full. Pursuant to the placement agent agreement, in addition to the cash commission paid to Wainwright of $1,260,000, broker warrants were issued to Wainwright which entitle the holder to purchase 1,260,000 Common Shares at an exercise price of US$1.25 per share prior to expiry on June 10, 2024. Of the 11,500,000 June 2020 Common Stock Equivalents, 8,000,000 were converted between June 10, 2020 and June 30, 2020 for total proceeds of $800. May 2020 Financing On May 6, 2020, the Company completed a registered direct offering of securities made pursuant to an agency agreement dated March 17, 2020 between the Company and Wainwright that provide for the purchase and sale of 5,514,504 Common Shares of the Company at a per share purchase price of US $0.36268 per Common Share and 2,757,252 unregistered Common Share purchase warrants (each, a “May 2020 Warrant”), resulting in total gross proceeds of $2,000,000 ($1,575,000 net of estimated closing cash costs including cash commission described below). Each May Warrant is exercisable to purchase one Common Share at an exercise price of US $0.3002 per Common Share for a period of five and one-half (5.5) years following the date of closing of the offering. Pursuant to the placement agency agreement, in addition to the cash commission paid to Wainwright of $140,000, broker warrants were issued to Wainwright which entitle the holder to purchase 386,015 Common Shares at a price of US $0.45335 per share prior to expiry on November 6, 2025. March 2020 Offering On March 27, 2020, the Company completed an offering of securities made pursuant to an agency agreement dated March 17, 2020 between the Company and Wainwright for the purchase and sale of 7,000,000 common shares of the Company (the “Common Shares”) at a per share purchase price of US $0.17 per Common Share and 3,500,000 Common Share purchase warrants (each, a “March Warrant”), resulting in total gross proceeds of $1,190,000 ($862,294 net of closing cash costs including cash commission described below). Each March Warrant is exercisable to purchase one Common Share at an exercise price of US $0.19 per Common Share for a period of five years following the date of closing of the offering. The warrants were valued at $475,300 based on the value determined by the Black-Scholes model and the balance of $714,700 was allocated to common shares. Pursuant to the placement agency agreement, in addition to the cash commission paid to Wainwright of $83,300, broker warrants were issued to Wainwright which entitle the holder to purchase 490,000 Common Shares at a price of US $0.2125 per share prior to expiry on March 27, 2025. Second Aspire Agreement On December 23, 2019, the Company entered into a common share purchase agreement (the “Second Aspire Agreement”) with Aspire Capital Fund, LLC (“Aspire Capital”) whereby Aspire Capital committed to purchase up to $35 million of common shares of Titan (“Common Shares”) at Titan’s request from time to time, until June 23, 2022. On commencement of the Second Aspire Agreement, Titan issued to Aspire Capital 973,000 Common Shares, as consideration for entering into the Second Aspire Agreement. The value of the Common Shares issued of $423,440, was included in capital, offset by a fee of the same amount plus $35,122 for additional costs incurred. Between January 3, 2020 and February 13, 2020, the Company issued 4,408,048 common shares pursuant to the Second Aspire Agreement as outlined in the following table: Grant Date Common shares issued Value January 3, 2020 500,000 $ 219,600 January 6, 2020 500,000 229,300 January 8, 2020 400,000 195,160 January 10, 2020 500,000 247,550 January 17, 2020 600,000 303,000 January 23, 2020 600,000 295,320 February 6, 2020 600,000 282,000 February 13, 2020 708,048 300,000 4,408,048 $ 2,071,930 January 2020 Equity Transaction On January 3, 2020, the Company announced that Cambridge Design Partnership Ltd. (“Cambridge”) had subscribed for common shares of the Company. The Company issued 501,148 Common Shares at a unit price of $0.50 for satisfaction of the trade payable with Cambridge of $250,574. First Aspire Agreement On August 29, 2019, the Company entered into a common share purchase agreement (the “First Aspire Agreement”) with Aspire Capital whereby Aspire Capital committed to purchase up to $35 million of common shares of Titan at Titan’s request from time to time, until February 28, 2022. On commencement of the First Aspire Agreement, Titan immediately sold to Aspire 1,777,325 Common Shares, representing 5.3% of the Common Shares then issued and outstanding, at a price of US $1.6879 per Common Share for gross proceeds of $3.0 million and issued to Aspire Capital 639,837 Common Shares, representing 1.9% of the Common Shares then issued and outstanding, as consideration for entering into the First Aspire Agreement. Northland Securities, Inc. acted as the Company’s agent and financial advisor in connection with the offering and pursuant to an agency agreement, was paid a cash fee of $160,000. Gross proceeds of $3.0 million, net of costs and fees of $417,113, was included in capital. Subsequent to August 29, 2019 and subject to the First Aspire Agreement, the Company issued Common Shares to Aspire as outlined in the following table: Grant Date Common shares issued Value August 30, 2019 2,417,162 $ 3,000,000 November 8, 2019 100,000 42,560 November 8, 2019 100,000 42,560 November 12, 2019 100,000 42,970 November 12, 2019 100,000 42,000 November 13, 2019 100,000 42,970 November 14, 2019 300,000 128,910 November 15, 2019 2,500,000 1,074,250 November 19, 2019 2,067,282 888,311 7,784,444 $ 5,304,531 March 2019 Equity Offering On March 21, 2019, Titan completed an offering of securities made pursuant to an agency agreement dated March 18, 2019 between the Company and Bloom Burton Securities Inc. (“Bloom Burton”). The Company sold 8,455,882 units under the offering at a price of US $3.40 per Unit for gross proceeds of approximately $28,750,000 ($25,426,744 net of closing cost including cash commission of $2,012,500). Each unit consisted of one Common Share of the Company and one Common Share purchase warrant, each warrant entitles the holder thereof to acquire one Common Share of the Company at an exercise price of US $4.00 and expiring March 21, 2024. The warrants were valued at $15,897,059 based on the value determined by the Black-Scholes model and the balance of $12,852,941 was allocated to common shares. Pursuant to the agency agreement, in addition to the cash commission paid to Bloom Burton, broker warrants were issued to Bloom Burton which entitle the holder to purchase 591,911 Common Shares at a price of US $3.40 per share prior to expiry on March 21, 2021. The broker warrants were valued using the Black-Scholes model and the value of $864,190 was accounted for as an increase in the closing costs and allocated between the shares and the warrants. During the quarter ended March 31, 2019, 1,018,506 warrants were exercised for total proceeds of $3,259,219. The fair value of the exercised warrants was $3,742,824 which was reclassed from warrant liability to common stock. b) Stock Options and Compensation Options Titan has reserved and set aside up to 15% of the issued and outstanding shares of Titan for granting of options to employees, officers, consultants and advisors. At June 30, 2020, 10,082,256 common shares (December 31, 2019: 5,986,152) were available for issue in accordance with the Company’s stock option plan. The terms of these options are determined by the Board of Directors. On January 28, 2020, the Company issued 25,765 stock options with an exercise price of CDN $0.657 to a director in exchange for services rendered. The options vest immediately and have a contractual life of 7 years. For the period ended June 30, 2020, $434,663 of stock-compensation expense was recorded (June 30, 2019 – $991,408). A summary of the status of the Company’s outstanding stock options as of June 30, 2020 and December 31, 2019 and changes during the periods ended on those dates is presented in the following table: Six Months Ended June 30, 2020 Year Ended December 31, 2019 Stock Options - CDN $ denominated Number of Stock Weighted average Exercise Price (CDN) Number of Stock Options Weighted average Exercise Price (CDN) Balance beginning 860,379 $ 5.89 875,433 $ 18.20 Granted 25,765 0.66 35,719 4.54 Expired / forfeited (17,980 ) 24.55 (50,773 ) 31.79 Balance ending 868,164 $ 5.46 860,379 $ 5.89 Stock Options - USD $ denominated Number of Stock Options Weighted average Exercise Price (USD) Number of Stock Options Weighted average Exercise Price (USD) Balance beginning 854,042 $ 2.65 50,349 $ 1.55 Granted - - 843,693 2.72 Expired / forfeited (467,255 ) 2.20 (40,000 ) 3.72 Balance ending 386,787 $ 3.19 854,042 $ 2.65 Total number of stock options 1,254,951 1,714,421 The weighted-average remaining contractual life and weighted-average exercise price of options outstanding and of options exercisable as at June 30, 2020 are as follows: Canadian Dollar Denominated Options Exercise Price (CDN) Number Outstanding Weighted- average remaining contractual life (years) Options Exercisable $ 0.66 25,765 6.58 25,765 $ 3.28 31,498 5.17 31,498 $ 4.50 18,936 2.78 18,936 $ 4.54 735,998 3.77 379,030 $ 4.80 3,040 0.21 3,040 $ 9.00 11,481 5.02 11,481 $ 9.60 1,105 0.27 1,105 $ 11.70 6,667 0.44 6,667 $ 12.00 1,948 0.43 1,948 $ 30.00 28,260 1.15 28,260 $ 30.60 2,096 0.48 2,096 $ 32.40 810 0.58 810 $ 45.30 560 0.12 560 868,164 3.75 511,196 US Dollar Denominated Options Exercise Price (USD) Number Outstanding Weighted-average remaining contractual life (years) Options Exercisable $ 1.55 50,349 1.47 50,349 $ 2.20 2,165 2.05 2,165 $ 3.40 294,273 5.87 197,273 $ 3.72 40,000 2.19 - 386,787 5.14 249,787 Total 1,254,951 4.11 760,983 The weighted average exercise price of Canadian dollar denominated options outstanding is CDN $5.46 and CDN $6.10 for options that are exercisable. The weighted average exercise price of US dollar denominated options outstanding is US $3.19 and US $3.02 for options that are exercisable. Options are granted to directors, officers, employees, and consultants at various times. Options are to be settled by physical delivery of shares. Inputs for Measurement of Grant Date Fair Values The grant date fair value of all share-based payment plans was measured based on the Black-Scholes model. Expected volatility was estimated by considering historic average share price volatility. The weighted average inputs in the original currency of the grants (CDN$ or US$) used in the measurement of fair values at grant date of the share-based option grants for the six months ended June 30, 2020 and 2019 are as follows: 2020 - CDN 2019 – US Fair value calculated CDN $0.43 US $1.76 Share price at grant CDN $0.62 US $2.84 Exercise price CDN $0.66 US $3.40 Expected option life 3.5 years 3.5 years Risk free interest rate (based on government bonds) 1.41 % 1.61 % Expected volatility 109.00 % 98.43 % Expected dividends Nil Nil c) Warrants In addition to the warrants accounted for as a liability (see Note 5), at June 30, 2020, the Company has 3,265,496 broker warrants that are issued, outstanding and exercisable (December 31, 2019 - 1,219,276). These broker warrants expire between August 10, 2020 and November 6, 2025 (December 31, 2019 - broker warrants had expiry dates between April 10, 2020 and March 21,2021). |
Commitments
Commitments | 6 Months Ended |
Jun. 30, 2020 | |
Commitments [abstract] | |
Commitments | 9. COMMITMENTS As part of its program of research and development around the single-port robotic surgical system, the Company has outsourced certain aspects of the design and development to third party technology and development companies. At June 30, 2020, $4,132,120 in purchase orders remain outstanding (December 31, 2019 - $1,327,294). The Company also has on deposit with a U.S. supplier $481,400 to be applied against future invoices (December 31, 2019 - $481,400). |
Related Party Transactions
Related Party Transactions | 6 Months Ended |
Jun. 30, 2020 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | 10. RELATED PARTY TRANSACTIONS During the six months ended June 30, 2020, transactions between the Company’s directors, officers and other related parties were related to compensation matters in the normal course of operations and are measured at the exchange amount, which is the amount of consideration established and agreed to by the related parties. Compensation paid to executive officers for the three and six months ended June 30, 2020 amounted to $218,596 and $453,531 compared to $446,911 and $961,163 for the three and six months ended June 30, 2019. June 30, 2020 December 31, 2019 Number of Shares % Number of Shares % John Barker 42,714 0.06 32,714 0.08 Stephen Randall 22,993 0.03 22,993 0.06 David McNally 4,167 0.01 4,167 0.01 John Schellhorn 294 0.00 294 0.00 Total 70,168 0.09 60,168 0.15 Common Shares Outstanding 75,581,381 100.00 % 39,907,681 100.00 % |
Revenues
Revenues | 6 Months Ended |
Jun. 30, 2020 | |
Disclosure of disaggregation of revenue from contracts with customers [abstract] | |
Revenues | 11. REVENUES On June 3, 2020, the Company entered into a License Agreement with Medtronic, whereby the Company is providing exclusive access to certain IP rights relating to robotic assisted surgical technologies. The Company is accounting for the license fee at the point in time when the rights were transferred. |
Capital Management
Capital Management | 6 Months Ended |
Jun. 30, 2020 | |
Capital Management | |
Capital Management | 12. CAPITAL MANAGEMENT The Company is not subject to externally imposed capital requirements other than the Nasdaq stock exchange (“Nasdaq”) requirement that the Company maintain a minimum bid price of $1.00. The Company currently does not meet this requirement and has until February 1, 2021 to regain compliance otherwise the Company’s securities are subject to potential delisting from Nasdaq. |
Subsequent Events
Subsequent Events | 6 Months Ended |
Jun. 30, 2020 | |
Subsequent Events [Abstract] | |
Subsequent Events | 13. SUBSEQUENT EVENTS Common Stock Issued Subsequent to June 30, 2020, 2,442,939 common shares were issued upon the exercise of warrants for gross proceeds of $733,370 and 3,500,000 common shares were issued upon the conversion of common shares equivalents for additional proceeds of $350. Stock Options On July 30, 2020, the Company issued 22,425 stock options with an exercise price of CDN $1.266 to a director in exchange for services rendered. The options vest immediately and have a contractual life of 7 years . . COVID-19 Since December 31, 2019, the outbreak of the novel strain of coronavirus, specifically identified as “COVID-19”, has resulted in governments worldwide enacting emergency measures to combat the spread of the virus. These measures, which include the implementation of travel bans, self-imposed quarantine periods and social distancing, continue to cause material disruption to business globally resulting in an economic slowdown. Global equity markets have experienced significant volatility and weakness. Governments and central banks have reacted with significant monetary and fiscal interventions designed to stabilize economic conditions. The Company operates from two offices, one in Toronto, Ontario and a second in Chapel Hill, North Carolina. The Company’s offices were temporarily closed in March 2020 while employees continued to work virtually. In June 2020, the Company began cautious and controlled return to offices on an as needed basis and will continue to do so for the foreseeable future. The pandemic, to date, has not had a significant impact on the deliverables by the Company’s suppliers. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2020 | |
Summary Of Significant Accounting Policies [Abstract] | |
Revenue Recognition | (a) Revenue Recognition The Company currently recognizes revenue when it has persuasive evidence of a contract, performance obligations have been identified and satisfied, payment terms have been identified, and it is probable that the Company will collect the consideration it is entitled to. On June 3, 2020, the Company entered into a License Agreement (see note 7) with a U.S. affiliate of Medtronic plc (“Medtronic”), whereby the Company is providing exclusive access to certain IP rights relating to robotic assisted surgical technologies. The Company is accounting for the license fee at the point in time when the rights were transferred. • Revenue from the License Agreement for intellectual property rights and know-how (“Royalty Payment”) is recognized when rights are granted and customer acceptance is established. Compensation received for the performance of technology transfer services relating to the License Agreement is accounted for separately from the Royalty Payment and will be recognized at the time the service is performed. • Revenue from the Development Agreement (see note 7) and the allocation of ownership ad license rights developed under each milestone is recognized when the rights are granted and customer acceptance is established. Under the terms of the Development Agreement, payment is dependent on when the customer confirms completion of each milestone as defined. Due to the uncertainty of milestone achievements and entitlement of payments, the Company recognizes revenue only upon acceptance by the customer of work performed and the milestone achieved. |
Warrant Liability | (b) Warrant Liability Certain of the Company’s warrants have exercise prices that are not fixed and, in accordance with IAS 32, must be recorded as a derivative financial liability. This applies both in the case where the Company’s warrants are denominated in a currency (Canadian dollars) other than the Company’s functional currency (U.S. dollars), and when a warrant is issued with a cashless exercise option. In each case, these warrants are initially measured at fair value and subsequent changes in fair value are recorded through Net and Comprehensive Loss for the period. A proportional amount of costs associated with the issue of shares and warrants is allocated to the warrants and recorded through Net and Comprehensive Loss for the period. At each balance sheet date, the Company reviews the classification of each Warrant Liability to determine whether the appropriate classification remains with Liabilities or requires reclassification to Equity. At each balance sheet date, the Warrant Liability of listed warrants is adjusted to fair value measured at the market price of the listed warrants and the Warrant Liability of unlisted warrants is adjusted to fair value using the Black-Scholes model with the change in fair value recorded through Net and Comprehensive Loss for the period. Prior to March 31, 2019, the Black-Sholes model for the unlisted warrants was determined using a comparable warrant quoted in an active market, adjusted for differences in the terms of the warrant. Since March 31, 2019, it was determined that the comparable warrant was no longer an effective benchmark and the Company began to use the market price and volatility of the Company’s common shares adjusted for differences in the terms of the warrant. |
Fair Value Measurement | (c) Fair Value Measurement The accounting guidance for fair value measurements prioritizes the inputs used in measuring fair value into the following hierarchy: Level 1 – Level 2 Level 3 The fair value of the warrant liability relating to listed and unlisted warrants is initially based on Level 2 significant observable inputs and at subsequent dates is adjusted using Level 1 inputs for listed warrants and Level 2 inputs for unlisted warrants. |
Right of Use Assets - Lease (Ta
Right of Use Assets - Lease (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Presentation of leases for lessee [abstract] | |
Summary Of Right of Use Asset | For the six months ended June 30, 2020 Cost Accumulated Amortization Net Book Value Balance at December 31, 2019 $ 34,172 $ (3,778 ) $ 30,394 Additions during the period 442,684 - 442,684 Amortization in the period - (32,750 ) (32,750 ) Balance at June 30, 2020 $ 476,856 $ (36,528 ) $ 440,328 |
Patent Rights (Tables)
Patent Rights (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Patent Rights [Abstract] | |
Summary of Patent Rights | For the six months ended June 30, 2020 Cost Accumulated Amortization & Impairment Losses Net Book Value Balance at December 31, 2019 $ 1,856,750 $ (255,005 ) $ 1,601,745 Additions during the period 103,560 - 103,560 Amortization in the period - (16,820 ) (16,820 ) Balance at June 30, 2020 $ 1,960,310 $ (271,825 ) $ 1,688,485 For the six months ended June 30, 2019 Cost Accumulated Amortization & Impairment Losses Net Book Value Balance at December 31, 2018 $ 1,398,713 $ (226,228 ) $ 1,172,485 Additions during the period 178,956 - 178,956 Amortization in the period - (13,466 ) (13,466 ) Balance at June 30, 2019 $ 1,577,669 $ (239,694 ) $ 1,337,975 |
Warrant Liability (Tables)
Warrant Liability (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Warrant Liability [Abstract] | |
Summary of Warrant Liability | Six Months Ended Year Ended June 30, 2020 December 31, 2019 Number of Warrants Amount Number of Warrants Amount Opening Balance 21,203,411 $ 3,621,444 13,901,859 $ 11,250,167 Issue of warrants expiring March 21, 2024 - - 8,455,882 15,897,059 Issue of warrants expiring March 27, 2025 3,500,000 475,300 - - Issue of warrants expiring November 6, 2025t 2,757,252 508,200 - - Issue of warrants expiring June 10, 2024 9,000,000 9,709,200 - - Warrants exercised during the period (3,750,000 ) (2,170,660 ) (1,018,506 ) (3,742,824 ) Warrants expired during the period - - (135,824 ) - Foreign exchange adjustment during the period - (38,094 ) - 17,687 Fair value adjustment during the period - 7,665,444 - (19,800,645 ) Ending Balance 32,710,663 $ 19,770,834 21,203,411 $ 3,621,444 |
Share Capital (Tables)
Share Capital (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Share Capital [Abstract] | |
Summary of shares sold under share purchase agreement | Between January 3, 2020 and February 13, 2020, the Company issued 4,408,048 common shares pursuant to the Second Aspire Agreement as outlined in the following table: Grant Date Common shares issued Value January 3, 2020 500,000 $ 219,600 January 6, 2020 500,000 229,300 January 8, 2020 400,000 195,160 January 10, 2020 500,000 247,550 January 17, 2020 600,000 303,000 January 23, 2020 600,000 295,320 February 6, 2020 600,000 282,000 February 13, 2020 708,048 300,000 4,408,048 $ 2,071,930 Subsequent to August 29, 2019 and subject to the First Aspire Agreement, the Company issued Common Shares to Aspire as outlined in the following table: Grant Date Common shares issued Value August 30, 2019 2,417,162 $ 3,000,000 November 8, 2019 100,000 42,560 November 8, 2019 100,000 42,560 November 12, 2019 100,000 42,970 November 12, 2019 100,000 42,000 November 13, 2019 100,000 42,970 November 14, 2019 300,000 128,910 November 15, 2019 2,500,000 1,074,250 November 19, 2019 2,067,282 888,311 7,784,444 $ 5,304,531 |
Summary of Options Outstanding | A summary of the status of the Company’s outstanding stock options as of June 30, 2020 and December 31, 2019 and changes during the periods ended on those dates is presented in the following table: Six Months Ended June 30, 2020 Year Ended December 31, 2019 Stock Options - CDN $ denominated Number of Stock Weighted average Exercise Price (CDN) Number of Stock Options Weighted average Exercise Price (CDN) Balance beginning 860,379 $ 5.89 875,433 $ 18.20 Granted 25,765 0.66 35,719 4.54 Expired / forfeited (17,980 ) 24.55 (50,773 ) 31.79 Balance ending 868,164 $ 5.46 860,379 $ 5.89 Stock Options - USD $ denominated Number of Stock Options Weighted average Exercise Price (USD) Number of Stock Options Weighted average Exercise Price (USD) Balance beginning 854,042 $ 2.65 50,349 $ 1.55 Granted - - 843,693 2.72 Expired / forfeited (467,255 ) 2.20 (40,000 ) 3.72 Balance ending 386,787 $ 3.19 854,042 $ 2.65 Total number of stock options 1,254,951 1,714,421 |
Summary of Weighted-Average Remaining Contractual Life and Weighted-Average Exercise Price Options Outstanding and Options Exercisable on Exercise Prices | The weighted-average remaining contractual life and weighted-average exercise price of options outstanding and of options exercisable as at June 30, 2020 are as follows: Canadian Dollar Denominated Options Exercise Price (CDN) Number Outstanding Weighted- average remaining contractual life (years) Options Exercisable $ 0.66 25,765 6.58 25,765 $ 3.28 31,498 5.17 31,498 $ 4.50 18,936 2.78 18,936 $ 4.54 735,998 3.77 379,030 $ 4.80 3,040 0.21 3,040 $ 9.00 11,481 5.02 11,481 $ 9.60 1,105 0.27 1,105 $ 11.70 6,667 0.44 6,667 $ 12.00 1,948 0.43 1,948 $ 30.00 28,260 1.15 28,260 $ 30.60 2,096 0.48 2,096 $ 32.40 810 0.58 810 $ 45.30 560 0.12 560 868,164 3.75 511,196 US Dollar Denominated Options Exercise Price (USD) Number Outstanding Weighted-average remaining contractual life (years) Options Exercisable $ 1.55 50,349 1.47 50,349 $ 2.20 2,165 2.05 2,165 $ 3.40 294,273 5.87 197,273 $ 3.72 40,000 2.19 - 386,787 5.14 249,787 Total 1,254,951 4.11 760,983 |
Summary of Inputs Used in Measurement of Fair Values at Grant Date of Share Based Option Plan | The weighted average inputs in the original currency of the grants (CDN$ or US$) used in the measurement of fair values at grant date of the share-based option grants for the six months ended June 30, 2020 and 2019 are as follows: 2020 - CDN 2019 – US Fair value calculated CDN $0.43 US $1.76 Share price at grant CDN $0.62 US $2.84 Exercise price CDN $0.66 US $3.40 Expected option life 3.5 years 3.5 years Risk free interest rate (based on government bonds) 1.41 % 1.61 % Expected volatility 109.00 % 98.43 % Expected dividends Nil Nil |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Related Party Transactions [Abstract] | |
Summary of Common Shares Outstanding and Percentage Control of the Company | June 30, 2020 December 31, 2019 Number of Shares % Number of Shares % John Barker 42,714 0.06 32,714 0.08 Stephen Randall 22,993 0.03 22,993 0.06 David McNally 4,167 0.01 4,167 0.01 John Schellhorn 294 0.00 294 0.00 Total 70,168 0.09 60,168 0.15 Common Shares Outstanding 75,581,381 100.00 % 39,907,681 100.00 % |
Description of business - Addit
Description of business - Additional Information (Detail) - USD ($) | 6 Months Ended | |||||
Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | |
Description Of Business [Abstract] | ||||||
Shareholders' deficiency | $ 2,083,970 | |||||
Comprehensive income (loss) | 1,911,242 | |||||
Working capital deficiency | 21,746,851 | |||||
Cash and cash equivalents | $ 28,689,757 | $ 1,760,219 | $ 814,492 | $ 10,320,183 | $ 23,610,440 | $ 11,471,243 |
Right of Use Assets - Lease - S
Right of Use Assets - Lease - Summary Of Right of Use Asset (Details) | 6 Months Ended |
Jun. 30, 2020USD ($) | |
Disclosure of quantitative information about right-of-use assets [line items] | |
Balance at December 31, 2019 | $ 30,394 |
Additions during the period | 442,684 |
Amortization in the period | (32,750) |
Balance at June 30, 2020 | 440,328 |
Cost [member] | |
Disclosure of quantitative information about right-of-use assets [line items] | |
Balance at December 31, 2019 | 34,172 |
Additions during the period | 442,684 |
Amortization in the period | |
Balance at June 30, 2020 | 476,856 |
Accumulated Amortization [member] | |
Disclosure of quantitative information about right-of-use assets [line items] | |
Balance at December 31, 2019 | (3,778) |
Additions during the period | |
Amortization in the period | (32,750) |
Balance at June 30, 2020 | $ (36,528) |
Right of Use Assets - Lease - A
Right of Use Assets - Lease - Additional Information (Detail) - USD ($) | Nov. 01, 2019 | Sep. 04, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Apr. 02, 2020 |
Disclosure of quantitative information about right-of-use assets [line items] | |||||||
Repayment of lease liabilities | $ 6,299 | $ 10,243 | |||||
Right-of-use asset | $ 442,684 | ||||||
Lease liability | $ 442,684 | ||||||
Toronto Office [Member] | |||||||
Disclosure of quantitative information about right-of-use assets [line items] | |||||||
Operating lease term | 18 months | ||||||
Right of use asset amortization | 11,330 | ||||||
Interest expenses on lease | 8,165 | ||||||
Repayment of lease liabilities | 8,649 | ||||||
Chapel Hill Office [Member] | |||||||
Disclosure of quantitative information about right-of-use assets [line items] | |||||||
Right of use asset amortization | 21,420 | ||||||
Interest expenses on lease | 6,457 | ||||||
Lease term | 62 months | ||||||
Lease rent | $ 8,320 | ||||||
Repayment of lease liabilities | $ 1,594 |
Patent Rights - Summary of Pate
Patent Rights - Summary of Patent Rights (Detail) - USD ($) | 6 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Disclosure of detailed information about intangible assets [line items] | ||
Beginning balance | $ 1,601,745 | $ 1,172,485 |
Additions during the year | 103,560 | 53,758 |
Amortization in the year | (16,820) | (6,175) |
Ending balance | 1,688,485 | 1,220,068 |
Cost [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning balance | 1,856,750 | 1,398,713 |
Additions during the year | 103,560 | 53,758 |
Amortization in the year | ||
Ending balance | 1,960,310 | 1,452,471 |
Accumulated Amortization & Impairment Losses [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning balance | (255,005) | (226,228) |
Additions during the year | ||
Amortization in the year | (16,820) | (6,175) |
Ending balance | $ (271,825) | $ (232,403) |
Accounts payable and accrued _2
Accounts payable and accrued liabilities - Additional Information (Detail) - USD ($) | Jun. 08, 2020 | Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 |
Accrued Expenses And Other Liabilities [Line Items] | ||||||
Accounts payable and accrued liabilities | $ 8,376,796 | $ 8,376,796 | $ 11,412,896 | |||
Gain on settlement | 1,839,626 | 1,839,626 | ||||
Naglreiter Consulting, LLC [Member] | ||||||
Accrued Expenses And Other Liabilities [Line Items] | ||||||
Gain on settlement | 1,839,626 | |||||
Payment under litigtion settlement | $ 1,050,000 | |||||
Research And Development Suppliers [Member] | ||||||
Accrued Expenses And Other Liabilities [Line Items] | ||||||
Accounts payable and accrued liabilities | 6,185,381 | 6,185,381 | ||||
Legal And Insurance Service Provider [Member] | ||||||
Accrued Expenses And Other Liabilities [Line Items] | ||||||
Accounts payable and accrued liabilities | $ 1,572,920 | $ 1,572,920 |
Warrant Liability - Summary of
Warrant Liability - Summary of Warrant Liability (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | Mar. 31, 2019 | |
Disclosure of classes of share capital [line items] | ||||||
Number of Warrants, Opening Balance | 21,203,411 | 13,901,859 | 13,901,859 | |||
Number of Warrants, exercised | (3,750,000) | (3,750,000) | (1,018,506) | (1,018,506) | ||
Number of Warrants, expired | (135,824) | |||||
Number of Warrants, Ending Balance | 32,710,663 | 32,710,663 | 21,203,411 | |||
Warrant liability, Opening Balance | $ 3,621,444 | $ 11,250,167 | $ 11,250,167 | |||
Warrant liability, exercised | (2,170,660) | (3,742,824) | ||||
Warrant liability, expired | ||||||
Warrant liability, Foreign exhange adjustment during the period | $ 12,997 | $ 142,682 | (38,094) | 36,625 | 17,687 | |
Warrant liability, Fair value adjustment during the period | 8,782,920 | $ (6,609,952) | 7,665,444 | $ 3,866,673 | (19,800,645) | |
Warrant liability, Ending Balance | $ 19,770,834 | $ 19,770,834 | $ 3,621,444 | |||
Issue of warrants expiring, March 21, 2024 [Member] | ||||||
Disclosure of classes of share capital [line items] | ||||||
Number of Warrants, issued | 8,455,882 | |||||
Warrant liability, issued | $ 15,897,059 | |||||
Issue of warrants expiring, March 27, 2025 [member] | ||||||
Disclosure of classes of share capital [line items] | ||||||
Number of Warrants, issued | 3,500,000 | |||||
Warrant liability, issued | $ 475,300 | |||||
Issue of warrants expiring, November 6, 2025 [member] | ||||||
Disclosure of classes of share capital [line items] | ||||||
Number of Warrants, issued | 2,757,252 | |||||
Warrant liability, issued | $ 508,200 | |||||
Issue of warrants expiring, June 10, 2024 [member] | ||||||
Disclosure of classes of share capital [line items] | ||||||
Number of Warrants, issued | 9,000,000 | |||||
Warrant liability, issued | $ 9,709,200 |
NOTE PAYABLE - Additional Infor
NOTE PAYABLE - Additional Information (Details) - Medtronic [Member] - USD ($) | Jun. 03, 2020 | Apr. 28, 2020 | Jun. 30, 2020 |
Disclosure of detailed information about borrowings [line items] | |||
Proceeds from loan | $ 1,500,000 | ||
Principal amount | $ 1,500,000 | ||
Legal, transaction and intellectual property related expense incurred | $ 132,000 | ||
Interest rate on notes | 8.00% | ||
Accrued interest | $ 21,822 |
Share Capital - Additional Info
Share Capital - Additional Information (Detail) | Jun. 10, 2020shares | May 06, 2020USD ($)$ / sharesshares | Jan. 03, 2020USD ($)$ / sharesshares | Dec. 23, 2019USD ($)shares | Mar. 21, 2019USD ($)$ / sharesshares | Jun. 30, 2020USD ($)$ / sharesshares | Mar. 27, 2020USD ($)$ / sharesshares | Jan. 28, 2020shares$ / shares | Aug. 29, 2019USD ($)$ / sharesshares | Jun. 30, 2020USD ($)$ / sharesshares | Jun. 30, 2019USD ($) | Mar. 31, 2019USD ($)shares | Jun. 30, 2020USD ($)shares$ / shares | Jun. 30, 2019USD ($) | Dec. 31, 2019shares$ / shares | Jun. 30, 2020$ / sharesshares | Feb. 13, 2020shares | Dec. 31, 2019$ / sharesshares | Dec. 31, 2018$ / shares | Dec. 31, 2018$ / shares |
Disclosure of classes of share capital [line items] | ||||||||||||||||||||
Shares issued | shares | 75,581,381 | 75,581,381 | 75,581,381 | 39,907,681 | 75,581,381 | 39,907,681 | ||||||||||||||
Offering price per share | $ / shares | $ 3.40 | |||||||||||||||||||
Cash commission | $ 83,744 | $ 451,068 | $ 195,869 | $ 720,497 | ||||||||||||||||
Amount allocated to common shares | $ 2,910,711 | 7,002,043 | ||||||||||||||||||
Warrant exercised | shares | 3,750,000 | 3,750,000 | 1,018,506 | 3,750,000 | 1,018,506 | 3,750,000 | 1,018,506 | |||||||||||||
Number of common shares available for issue under stock option plan | shares | 10,082,256 | 5,986,152 | ||||||||||||||||||
Stock based compensation | $ 206,087 | $ 740,051 | $ 434,663 | 991,408 | ||||||||||||||||
Contractual Life | 4 years 1 month 9 days | |||||||||||||||||||
Stock issuance costs | $ 487,788 | $ 1,498,498 | ||||||||||||||||||
Canadian Dollar [Member] | ||||||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||||||
Weighted average exercise price of options outstanding | $ / shares | $ 5.46 | $ 5.89 | $ 18.20 | |||||||||||||||||
Weighted average exercise price of options exercisable | $ / shares | $ 6.10 | |||||||||||||||||||
Options issued | shares | 25,765 | 35,719 | ||||||||||||||||||
Contractual Life | 3 years 9 months | |||||||||||||||||||
US Dollar [Member] | ||||||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||||||
Weighted average exercise price of options outstanding | $ / shares | $ 3.19 | $ 3.19 | $ 3.19 | $ 2.65 | $ 1.55 | |||||||||||||||
Weighted average exercise price of options exercisable | $ / shares | $ 3.02 | $ 3.02 | $ 3.02 | |||||||||||||||||
Options issued | shares | 843,693 | |||||||||||||||||||
Contractual Life | 5 years 1 month 20 days | |||||||||||||||||||
Director [Member] | ||||||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||||||
Options issued | shares | 25,765 | |||||||||||||||||||
Exercise prices/option | $ / shares | $ 0.657 | |||||||||||||||||||
Contractual Life | 7 years | |||||||||||||||||||
Warrants expiring between April 10, 2020 and March 27, 2025 [Member] | ||||||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||||||
Broker Warrants issued and outstanding | shares | 3,265,496 | 3,265,496 | 3,265,496 | 1,219,276 | 3,265,496 | 1,219,276 | ||||||||||||||
After Amendment [Member] | ||||||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||||||
Percentage of common shares reserved for issuance | 15.00% | |||||||||||||||||||
Aspire Agreement [Member] | ||||||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||||||
Gross proceeds from offerings | $ 3,000,000 | |||||||||||||||||||
Cash commission | $ 417,113 | |||||||||||||||||||
Over Allotment Option 1 [Member] | ||||||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||||||
Warrant exercised | shares | 1,018,506 | |||||||||||||||||||
Proceeds from warrant exercised | $ 3,259,219 | |||||||||||||||||||
Amount reclassed from warrant liability to common stock | $ 3,742,824 | |||||||||||||||||||
H.C.Wainwright and Co. LLC [Member] | ||||||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||||||
Sale of offering units | shares | 6,500,000 | 5,514,504 | 7,000,000 | 11,500,000 | ||||||||||||||||
Offering price per share | $ / shares | $ 0.36268 | $ 0.17 | $ 1 | |||||||||||||||||
Gross proceeds from offerings | $ 2,000,000 | $ 1,190,000 | $ 18,000,000 | |||||||||||||||||
Cash commission | $ 862,294 | |||||||||||||||||||
Net proceeds from offering | $ 1,575,000 | $ 16,500,000 | ||||||||||||||||||
Number of Common Stock Equivalents converted during period | shares | 8,000,000 | |||||||||||||||||||
Total proceeds from conversion of Common Stock Equivalents | $ 800 | |||||||||||||||||||
Exercise price per share | $ / shares | $ 0.3002 | $ 0.19 | ||||||||||||||||||
Fair value of warrants | $ 475,300 | |||||||||||||||||||
Amount allocated to common shares | $ 714,700 | |||||||||||||||||||
Warrants to purchase of common stock | shares | 2,757,252 | 3,500,000 | 9,000,000 | |||||||||||||||||
Contractual Life | 5 years 6 months | 4 years | ||||||||||||||||||
Conversion price of warrant | $ / shares | $ 1 | |||||||||||||||||||
Conversion price of common share | $ / shares | $ 0.0001 | |||||||||||||||||||
H.C.Wainwright and Co. LLC [Member] | Over Allotment Option 1 [Member] | ||||||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||||||
Cash commission | $ 140,000 | $ 83,300 | $ 1,260,000 | |||||||||||||||||
Warrants expiration period | Nov. 6, 2025 | Mar. 27, 2025 | Jun. 10, 2024 | |||||||||||||||||
Broker warrants to purchase common stock | shares | 386,015 | 490,000 | 1,260,000 | |||||||||||||||||
Common stock price per share | $ / shares | $ 0.45335 | $ 0.2125 | $ 1.25 | |||||||||||||||||
Aspire Capital Fund LLC [Member] | Aspire Agreement [Member] | ||||||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||||||
Shares issued | shares | 973,000 | 7,784,444 | 1,777,325 | 7,784,444 | 7,784,444 | 7,784,444 | 4,408,048 | |||||||||||||
Offering price per share | $ / shares | $ 1.6879 | |||||||||||||||||||
Gross proceeds from offerings | $ 3,000,000 | |||||||||||||||||||
Capital Issued Commitments | $ 35,000,000 | $ 35,000,000 | ||||||||||||||||||
Percentage Of Shares Outstanding | 5.30% | |||||||||||||||||||
Common stock shares issued value | 423,440 | $ 5,304,531 | ||||||||||||||||||
Stock issuance costs | $ 35,122 | |||||||||||||||||||
Aspire Capital Fund LLC [Member] | Aspire Agreement [Member] | Additional Commitment [Member] | ||||||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||||||
Shares issued | shares | 639,837 | |||||||||||||||||||
Percentage Of Shares Outstanding | 1.90% | |||||||||||||||||||
Cambridge Design Partnership Ltd [Member] | ||||||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||||||
Shares issued | shares | 501,148 | |||||||||||||||||||
Offering price per share | $ / shares | $ 0.50 | |||||||||||||||||||
Common stock shares issued value | $ 250,574 | |||||||||||||||||||
Northland Securities Inc [Member] | Aspire Agreement [Member] | ||||||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||||||
Cash commission | $ 160,000 | |||||||||||||||||||
Bloom Burton Securities Inc [Member] | ||||||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||||||
Sale of offering units | shares | 8,455,882 | |||||||||||||||||||
Offering price per share | $ / shares | $ 3.40 | |||||||||||||||||||
Gross proceeds from offerings | $ 28,750,000 | |||||||||||||||||||
Cash commission | 2,012,500 | |||||||||||||||||||
Net proceeds from offering | $ 25,426,744 | |||||||||||||||||||
Exercise price per share | $ / shares | $ 4 | |||||||||||||||||||
Fair value of warrants | $ 15,897,059 | |||||||||||||||||||
Amount allocated to common shares | $ 12,852,941 | |||||||||||||||||||
Warrants expiration period | Mar. 21, 2024 | |||||||||||||||||||
Bloom Burton Securities Inc [Member] | Over Allotment Option 1 [Member] | ||||||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||||||
Fair value of warrants | $ 864,190 | |||||||||||||||||||
Warrants expiration period | Mar. 21, 2021 | |||||||||||||||||||
Broker warrants to purchase common stock | shares | 591,911 | |||||||||||||||||||
Common stock price per share | $ / shares | $ 3.40 |
Share Capital - Disclosure Of S
Share Capital - Disclosure Of Shares Sold Pursuant To Share Purchase Agreement (Details) - USD ($) | Dec. 23, 2019 | Jun. 30, 2020 | Feb. 13, 2020 | Dec. 31, 2019 | Aug. 29, 2019 |
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | |||||
Common shares issued | 75,581,381 | 39,907,681 | |||
Aspire Capital Fund LLC [Member] | Second Aspire Agreement [Member] | |||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | |||||
Common shares issued | 4,408,048 | ||||
Value | $ 2,071,930 | ||||
Aspire Capital Fund LLC [Member] | Aspire Agreement [Member] | |||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | |||||
Common shares issued | 973,000 | 7,784,444 | 4,408,048 | 1,777,325 | |
Value | $ 423,440 | $ 5,304,531 | |||
January 3, 2020 [Member] | Aspire Capital Fund LLC [Member] | Second Aspire Agreement [Member] | |||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | |||||
Common shares issued | 500,000 | ||||
Value | $ 219,600 | ||||
January 6, 2020 [Member] | Aspire Capital Fund LLC [Member] | Second Aspire Agreement [Member] | |||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | |||||
Common shares issued | 500,000 | ||||
Value | $ 229,300 | ||||
January 8, 2020 [Member] | Aspire Capital Fund LLC [Member] | Second Aspire Agreement [Member] | |||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | |||||
Common shares issued | 400,000 | ||||
Value | $ 195,160 | ||||
January 10, 2020 [Member] | Aspire Capital Fund LLC [Member] | Second Aspire Agreement [Member] | |||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | |||||
Common shares issued | 500,000 | ||||
Value | $ 247,550 | ||||
January 17, 2020 [Member] | Aspire Capital Fund LLC [Member] | Second Aspire Agreement [Member] | |||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | |||||
Common shares issued | 600,000 | ||||
Value | $ 303,000 | ||||
January 23, 2020 [Member] | Aspire Capital Fund LLC [Member] | Second Aspire Agreement [Member] | |||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | |||||
Common shares issued | 600,000 | ||||
Value | $ 295,320 | ||||
February 6, 2020 [Member] | Aspire Capital Fund LLC [Member] | Second Aspire Agreement [Member] | |||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | |||||
Common shares issued | 600,000 | ||||
Value | $ 282,000 | ||||
February 13, 2020 [Member] | Aspire Capital Fund LLC [Member] | Second Aspire Agreement [Member] | |||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | |||||
Common shares issued | 708,048 | ||||
Value | $ 300,000 | ||||
August 30, 2019 [Member] | Aspire Capital Fund LLC [Member] | Aspire Agreement [Member] | |||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | |||||
Common shares issued | 2,417,162 | ||||
Value | $ 3,000,000 | ||||
November 8, 2019, One [Member] | Aspire Capital Fund LLC [Member] | Aspire Agreement [Member] | |||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | |||||
Common shares issued | 100,000 | ||||
Value | $ 42,560 | ||||
November 8, 2019,Two [Member] | Aspire Capital Fund LLC [Member] | Aspire Agreement [Member] | |||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | |||||
Common shares issued | 100,000 | ||||
Value | $ 42,560 | ||||
November 12, 2019, One [Member] | Aspire Capital Fund LLC [Member] | Aspire Agreement [Member] | |||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | |||||
Common shares issued | 100,000 | ||||
Value | $ 42,970 | ||||
November 12, 2019,Two [Member] | Aspire Capital Fund LLC [Member] | Aspire Agreement [Member] | |||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | |||||
Common shares issued | 100,000 | ||||
Value | $ 42,000 | ||||
November 13, 2019 [Member] | Aspire Capital Fund LLC [Member] | Aspire Agreement [Member] | |||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | |||||
Common shares issued | 100,000 | ||||
Value | $ 42,970 | ||||
November 14, 2019 [Member] | Aspire Capital Fund LLC [Member] | Aspire Agreement [Member] | |||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | |||||
Common shares issued | 300,000 | ||||
Value | $ 128,910 | ||||
November 15, 2019 [Member] | Aspire Capital Fund LLC [Member] | Aspire Agreement [Member] | |||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | |||||
Common shares issued | 2,500,000 | ||||
Value | $ 1,074,250 | ||||
November 19, 2019 [Member] | Aspire Capital Fund LLC [Member] | Aspire Agreement [Member] | |||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | |||||
Common shares issued | 2,067,282 | ||||
Value | $ 888,311 |
Share Capital - Summary of Opti
Share Capital - Summary of Options Outstanding (Detail) | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2020shares$ / shares | Jun. 30, 2020shares$ / shares | Dec. 31, 2019shares$ / shares | Dec. 31, 2019shares$ / shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Number of Stock Options, Balance Beginning | ||||
Number of Stock Options, Balance Ending | 1,254,951 | 1,254,951 | ||
Canadian Dollar [Member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Number of Stock Options, Balance Beginning | 860,379 | 860,379 | 875,433 | 875,433 |
Number of Stock Options, Granted | 25,765 | 25,765 | 35,719 | 35,719 |
Number of Stock Options, Expired/Forfeited | (17,980) | (17,980) | (50,773) | (50,773) |
Number of Stock Options, Balance Ending | 868,164 | 868,164 | 860,379 | 860,379 |
Weighted-average Exercise Price, Balance Beginning | $ / shares | $ 5.89 | $ 18.20 | ||
Weighted-average Exercise Price, Granted | $ / shares | 0.66 | 4.54 | ||
Weighted-average Exercise Price, Expired/Forfeited | $ / shares | 24.55 | 31.79 | ||
Weighted-average Exercise Price, Balance Ending | $ / shares | $ 5.46 | $ 5.89 | ||
US Dollar [Member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Number of Stock Options, Balance Beginning | 854,042 | 854,042 | 50,349 | 50,349 |
Number of Stock Options, Granted | 843,693 | 843,693 | ||
Number of Stock Options, Expired/Forfeited | (467,255) | (467,255) | (40,000) | (40,000) |
Number of Stock Options, Balance Ending | 386,787 | 386,787 | 854,042 | 854,042 |
Weighted-average Exercise Price, Balance Beginning | $ / shares | $ 2.65 | $ 1.55 | ||
Weighted-average Exercise Price, Granted | $ / shares | 2.72 | |||
Weighted-average Exercise Price, Expired/Forfeited | $ / shares | 2.20 | 3.72 | ||
Weighted-average Exercise Price, Balance Ending | $ / shares | $ 3.19 | $ 2.65 |
Share Capital - Summary of Weig
Share Capital - Summary of Weighted-Average Remaining Contractual Life and Weighted-Average Exercise Price Options Outstanding and Options Exercisable on Exercise Prices (Detail) | 6 Months Ended | |||
Jun. 30, 2020shares$ / shares | Jun. 30, 2020shares$ / shares | Dec. 31, 2019shares | Dec. 31, 2018shares | |
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||
Options Outstanding, Number Outstanding | 1,254,951 | 1,254,951 | ||
Weighted average remaining contractual life of outstanding share options | 4 years 1 month 9 days | |||
Options Outstanding, Options Exercisable | 760,983 | 760,983 | ||
Canadian Dollar [Member] | ||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||
Options Outstanding, Number Outstanding | 868,164 | 868,164 | 860,379 | 875,433 |
Weighted average remaining contractual life of outstanding share options | 3 years 9 months | |||
Options Outstanding, Options Exercisable | 511,196 | 511,196 | ||
Canadian Dollar [Member] | $0.66 [Member] | ||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||
Exercise prices/option | $ / shares | $ 0.66 | |||
Options Outstanding, Number Outstanding | 25,765 | 25,765 | ||
Weighted average remaining contractual life of outstanding share options | 6 years 6 months 29 days | |||
Options Outstanding, Options Exercisable | 25,765 | 25,765 | ||
Canadian Dollar [Member] | $3.28 [Member] | ||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||
Exercise prices/option | $ / shares | $ 3.28 | |||
Options Outstanding, Number Outstanding | 31,498 | 31,498 | ||
Weighted average remaining contractual life of outstanding share options | 5 years 2 months 1 day | |||
Options Outstanding, Options Exercisable | 31,498 | 31,498 | ||
Canadian Dollar [Member] | $4.50 [Member] | ||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||
Exercise prices/option | $ / shares | $ 4.50 | |||
Options Outstanding, Number Outstanding | 18,936 | 18,936 | ||
Weighted average remaining contractual life of outstanding share options | 2 years 9 months 11 days | |||
Options Outstanding, Options Exercisable | 18,936 | 18,936 | ||
Canadian Dollar [Member] | $4.54 [Member] | ||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||
Exercise prices/option | $ / shares | $ 4.54 | |||
Options Outstanding, Number Outstanding | 735,998 | 735,998 | ||
Weighted average remaining contractual life of outstanding share options | 3 years 9 months 7 days | |||
Options Outstanding, Options Exercisable | 379,030 | 379,030 | ||
Canadian Dollar [Member] | $4.80 [Member] | ||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||
Exercise prices/option | $ / shares | $ 4.80 | |||
Options Outstanding, Number Outstanding | 3,040 | 3,040 | ||
Weighted average remaining contractual life of outstanding share options | 2 months 16 days | |||
Options Outstanding, Options Exercisable | 3,040 | 3,040 | ||
Canadian Dollar [Member] | $9.00 [Member] | ||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||
Exercise prices/option | $ / shares | $ 9 | |||
Options Outstanding, Number Outstanding | 11,481 | 11,481 | ||
Weighted average remaining contractual life of outstanding share options | 5 years 7 days | |||
Options Outstanding, Options Exercisable | 11,481 | 11,481 | ||
Canadian Dollar [Member] | $9.60 [Member] | ||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||
Exercise prices/option | $ / shares | $ 9.60 | |||
Options Outstanding, Number Outstanding | 1,105 | 1,105 | ||
Weighted average remaining contractual life of outstanding share options | 3 months 8 days | |||
Options Outstanding, Options Exercisable | 1,105 | 1,105 | ||
Canadian Dollar [Member] | $11.70 [Member] | ||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||
Exercise prices/option | $ / shares | $ 11.70 | |||
Options Outstanding, Number Outstanding | 6,667 | 6,667 | ||
Weighted average remaining contractual life of outstanding share options | 5 months 9 days | |||
Options Outstanding, Options Exercisable | 6,667 | 6,667 | ||
Canadian Dollar [Member] | $12.00 [Member] | ||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||
Exercise prices/option | $ / shares | $ 12 | |||
Options Outstanding, Number Outstanding | 1,948 | 1,948 | ||
Weighted average remaining contractual life of outstanding share options | 5 months 5 days | |||
Options Outstanding, Options Exercisable | 1,948 | 1,948 | ||
Canadian Dollar [Member] | $30.00 [Member] | ||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||
Exercise prices/option | $ / shares | $ 30 | |||
Options Outstanding, Number Outstanding | 28,260 | 28,260 | ||
Weighted average remaining contractual life of outstanding share options | 1 year 1 month 24 days | |||
Options Outstanding, Options Exercisable | 28,260 | 28,260 | ||
Canadian Dollar [Member] | $30.60 [Member] | ||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||
Exercise prices/option | $ / shares | $ 30.60 | |||
Options Outstanding, Number Outstanding | 2,096 | 2,096 | ||
Weighted average remaining contractual life of outstanding share options | 5 months 23 days | |||
Options Outstanding, Options Exercisable | 2,096 | 2,096 | ||
Canadian Dollar [Member] | $32.40 [Member] | ||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||
Exercise prices/option | $ / shares | $ 32.40 | |||
Options Outstanding, Number Outstanding | 810 | 810 | ||
Weighted average remaining contractual life of outstanding share options | 6 months 29 days | |||
Options Outstanding, Options Exercisable | 810 | 810 | ||
Canadian Dollar [Member] | $45.30 [Member] | ||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||
Exercise prices/option | $ / shares | $ 45.30 | |||
Options Outstanding, Number Outstanding | 560 | 560 | ||
Weighted average remaining contractual life of outstanding share options | 1 month 13 days | |||
Options Outstanding, Options Exercisable | 560 | 560 | ||
US Dollar [Member] | ||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||
Options Outstanding, Number Outstanding | 386,787 | 386,787 | 854,042 | 50,349 |
Weighted average remaining contractual life of outstanding share options | 5 years 1 month 20 days | |||
Options Outstanding, Options Exercisable | 249,787 | 249,787 | ||
US Dollar [Member] | $1.55 [Member] | ||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||
Exercise prices/option | $ / shares | $ 1.55 | |||
Options Outstanding, Number Outstanding | 50,349 | 50,349 | ||
Weighted average remaining contractual life of outstanding share options | 1 year 5 months 20 days | |||
Options Outstanding, Options Exercisable | 50,349 | 50,349 | ||
US Dollar [Member] | $2.20 [Member] | ||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||
Exercise prices/option | $ / shares | $ 2.20 | |||
Options Outstanding, Number Outstanding | 2,165 | 2,165 | ||
Weighted average remaining contractual life of outstanding share options | 2 years 18 days | |||
Options Outstanding, Options Exercisable | 2,165 | 2,165 | ||
US Dollar [Member] | $3.40 [Member] | ||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||
Exercise prices/option | $ / shares | $ 3.40 | |||
Options Outstanding, Number Outstanding | 294,273 | 294,273 | ||
Weighted average remaining contractual life of outstanding share options | 5 years 10 months 14 days | |||
Options Outstanding, Options Exercisable | 197,273 | 197,273 | ||
US Dollar [Member] | $3.72 [Member] | ||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||
Exercise prices/option | $ / shares | $ 3.72 | |||
Options Outstanding, Number Outstanding | 40,000 | 40,000 | ||
Weighted average remaining contractual life of outstanding share options | 2 years 2 months 8 days | |||
Options Outstanding, Options Exercisable |
Share Capital - Summary of Inpu
Share Capital - Summary of Inputs Used in Measurement of Fair Values at Grant Date of Share Based Option Plan (Detail) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2020CAD ($)yr$ / shares | Dec. 31, 2019USD ($)yr$ / shares | |
Canadian Dollar [Member] | ||
Disclosure of fair value measurement of equity [line items] | ||
Fair value calculated | $ 0.43 | |
Share price at grant | 0.62 | |
Exercise price | $ 0.66 | |
Expected option life | yr | 3.5 | |
Risk free interest rate (based on government bonds) | 1.41% | |
Expected volatility | 109.00% | |
Expected dividends | $ | ||
US Dollar [Member] | ||
Disclosure of fair value measurement of equity [line items] | ||
Fair value calculated | $ 1.76 | |
Share price at grant | 2.84 | |
Exercise price | $ 3.40 | |
Expected option life | yr | 3.5 | |
Risk free interest rate (based on government bonds) | 1.61% | |
Expected volatility | 98.43% | |
Expected dividends | $ |
Commitments - Additional Inform
Commitments - Additional Information (Detail) - USD ($) | Jun. 30, 2020 | Dec. 31, 2019 |
Commitments [abstract] | ||
Purchase orders remain outstanding | $ 4,132,120 | $ 1,327,294 |
Deposits | $ 481,400 | $ 481,400 |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Key management personnel of entity or parent [member] | ||||
Disclosure of transactions between related parties [line items] | ||||
Compensation to the Executive Officers | $ 218,596 | $ 446,911 | $ 453,531 | $ 961,163 |
Related Party Transactions - Su
Related Party Transactions - Summary of Common Shares Outstanding and Percentage Control of the Company (Detail) - shares | 6 Months Ended | 12 Months Ended |
Jun. 30, 2020 | Dec. 31, 2019 | |
Disclosure of transactions between related parties [line items] | ||
Number of Shares | 75,581,381 | 39,907,681 |
Percentage of ownership | 100.00% | 100.00% |
Key management personnel of entity or parent [member] | ||
Disclosure of transactions between related parties [line items] | ||
Number of Shares | 70,168 | 60,168 |
Percentage of ownership | 0.09% | 0.15% |
Key management personnel of entity or parent [member] | John Barker [member] | ||
Disclosure of transactions between related parties [line items] | ||
Number of Shares | 42,714 | 32,714 |
Percentage of ownership | 0.06% | 0.08% |
Key management personnel of entity or parent [member] | Stephen Randall [member] | ||
Disclosure of transactions between related parties [line items] | ||
Number of Shares | 22,993 | 22,993 |
Percentage of ownership | 0.03% | 0.06% |
Key management personnel of entity or parent [member] | David McNally [member] | ||
Disclosure of transactions between related parties [line items] | ||
Number of Shares | 4,167 | 4,167 |
Percentage of ownership | 0.01% | 0.01% |
Key management personnel of entity or parent [member] | John Schellhorn [member] | ||
Disclosure of transactions between related parties [line items] | ||
Number of Shares | 294 | 294 |
Percentage of ownership | 0.00% | 0.00% |
Capital Management - Additional
Capital Management - Additional Information (Details) | 6 Months Ended |
Jun. 30, 2020$ / shares | |
Capital Management | |
Bid price | $ 1 |
Subsequent events - Additional
Subsequent events - Additional Information (Details) | 1 Months Ended | 6 Months Ended | ||||
Jul. 31, 2020USD ($)shares | Jul. 30, 2020shares$ / shares | Jan. 28, 2020shares$ / shares | Jun. 30, 2020shares | Dec. 31, 2019shares | Mar. 31, 2019shares | |
Statement Line Items [Line Items] | ||||||
Common shares issued upon exercise of warrants | 3,750,000 | 1,018,506 | 1,018,506 | |||
Contractual Life | 4 years 1 month 9 days | |||||
Director [Member] | ||||||
Statement Line Items [Line Items] | ||||||
Options issued | 25,765 | |||||
Exercise prices/option | $ / shares | $ 0.657 | |||||
Contractual Life | 7 years | |||||
Events After Reporting Period [Member] | ||||||
Statement Line Items [Line Items] | ||||||
Common shares issued upon exercise of warrants | 2,442,939 | |||||
Proceeds from warrant exercised | $ | $ 733,370 | |||||
Common share issued upon conversion of common shares | 3,500,000 | |||||
Proceeds from conversion of shares | $ | $ 350 | |||||
Events After Reporting Period [Member] | Director [Member] | ||||||
Statement Line Items [Line Items] | ||||||
Options issued | 22,425 | |||||
Exercise prices/option | $ / shares | $ 1.266 | |||||
Contractual Life | 7 years | |||||
Events After Reporting Period [Member] | Employees [Member] | ||||||
Statement Line Items [Line Items] | ||||||
Options issued | 1,350,000 | |||||
Exercise prices/option | $ / shares | $ 0.962 | |||||
Option vesting annually | 25.00% | |||||
Contractual Life | 4 years |