Document and Entity Information
Document and Entity Information | 9 Months Ended |
Sep. 30, 2019 | |
Document And Entity Information | |
Entity Registrant Name | NYMOX PHARMACEUTICAL CORPORATION |
Entity Central Index Key | 0001018735 |
Document Type | 6-K |
Document Period End Date | Sep. 30, 2019 |
Amendment Flag | false |
Current Fiscal Year End Date | --12-31 |
Document Fiscal Period Focus | Q3 |
Document Fiscal Year Focus | 2019 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Revenues | ||||
Sales of goods | $ 39 | $ 40 | $ 90 | $ 280 |
Total revenues | 39 | 40 | 90 | 280 |
Operating expenses | ||||
Research and development | 1,508 | 1,654 | 5,574 | 4,957 |
General and administrative | 1,021 | 1,171 | 5,083 | 3,102 |
Marketing | ||||
Cost of sales | 16 | 25 | 51 | 109 |
Total expenses | 2,545 | 2,850 | 10,708 | 8,168 |
Loss from operations | (2,506) | (2,810) | (10,618) | (7,888) |
Net finance income (costs) | 45 | 19 | 143 | 14 |
Loss attributable to the equity holders | $ (2,461) | $ (2,791) | $ (10,475) | $ (7,874) |
Net income (loss) per share Basic & Diluted | $ (0.04) | $ (0.05) | $ (0.15) | $ (0.13) |
Weighted average number of common shares outstanding Basic & Diluted | 69,974 | 61,519 | 68,496 | 59,299 |
Consolidated Statements of Fina
Consolidated Statements of Financial Position - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Current assets | ||
Cash | $ 7,141 | $ 7,946 |
Accounts receivable | 7 | 2 |
Other receivables | 13 | 12 |
Security deposit | 11 | 23 |
Prepaid expenses | 19 | 2 |
Inventory | 28 | 41 |
Total current assets | 7,219 | 8,026 |
Non-current assets | ||
Property and equipment | 27 | 33 |
Operating lease right-of-use asset, net | 199 | |
Security deposit | 17 | 17 |
Total assets | 7,462 | 8,076 |
Current liabilities | ||
Accounts payable and accrued liabilities | 1,598 | 1,074 |
Operating lease liability due within one year | 66 | |
Total current liability | 1,664 | 1,074 |
Long term operating lease liability | 148 | |
Total liabilities | 1,812 | 1,074 |
Stockholders’ Equity | ||
Share capital – unlimited authorized shares at no par value 70,468 and 64,676 shares outstanding at September 30, 2019 and December 31, 2018, respectively | 136,554 | 126,684 |
Share capital subscription receivable | (589) | (868) |
Additional paid-in capital | 35,285 | 36,299 |
Accumulated deficit | (165,600) | (155,113) |
Total Stockholders' equity | 5,650 | 7,002 |
Total liabilities and stockholders' equity | $ 7,462 | $ 8,076 |
Consolidated Statements of Fi_2
Consolidated Statements of Financial Position (Parenthetical) - shares shares in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Statement of financial position [abstract] | ||
Share capital, shares outstanding | 70,468 | 64,676 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Cash flows used in operating activities | ||
Net loss | $ (10,475) | $ (7,874) |
Adjustments for: | ||
Depreciation equipment | 7 | 1 |
Stock-based compensation | 2,526 | 3,064 |
Issued stock for service fee | 1,330 | 60 |
Amortization and others | 470 | 0 |
Accounts receivable and other receivables | (7) | 70 |
Prepaid expense | (18) | (15) |
Inventories | 13 | (23) |
Security deposit | 13 | (16) |
Accounts payable and accrued liabilities | 524 | (1,381) |
Net cash flows used in operating activities | (5,617) | (6,114) |
Cash flows from (used in) financing activities | ||
Proceeds from the issuance of share capital | 5,000 | 9,932 |
Repayment of operating lease and financing obligation | (188) | 0 |
Net cash flows provided by financing activities | 4,812 | 9,932 |
Cash flows used in investing activities | ||
Purchase of property and equipment | (11) | |
Net cash flows used in investing activities | (11) | |
Net (decrease) increase in cash | (805) | 3,807 |
Cash, beginning of the period | 7,946 | 851 |
Cash, end of the period | 7,141 | 4,658 |
SUPPLEMENTAL DISCLOSURE | ||
Income taxes paid | ||
Interest paid | ||
Increase in right-of-use asset and related liability | $ 393 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands | Common Stock | Subscriptions | Additional Paid-In Capital | Accumulated Deficit | Total |
Begning balance, shares at Dec. 31, 2017 | 56,378 | ||||
Begning balance, amount at Dec. 31, 2017 | $ 108,196 | $ (718) | $ 35,790 | $ (144,519) | $ (1,251) |
Statement Line Items [Line Items] | |||||
Shares issuance for cash and share subscriptions, shares | 3,521 | ||||
Shares issuance for cash and share subscriptions, amount | $ 10,082 | (150) | 9,932 | ||
Stock -based commission, shares | 10 | ||||
Stock -based commission, amount | $ 32 | 32 | |||
Stock-based compensation and service fee, shares | 2,350 | ||||
Stock-based compensation and service fee, amount | $ 3,374 | (283) | 3,091 | ||
Net loss | (7,874) | (7,874) | |||
Ending balance, shares at Sep. 30, 2018 | 62,259 | ||||
Ending balance, amount at Sep. 30, 2018 | $ 121,684 | (868) | 35,507 | (152,393) | 3,930 |
Begning balance, shares at Dec. 31, 2018 | 64,676 | ||||
Begning balance, amount at Dec. 31, 2018 | $ 126,684 | (868) | 36,299 | (155,113) | 7,002 |
Statement Line Items [Line Items] | |||||
Lease adoption prior year cumulative effect | (12) | (12) | |||
Shares issuance for cash and share subscriptions, shares | 2,542 | ||||
Shares issuance for cash and share subscriptions, amount | $ 4,800 | 279 | 5,079 | ||
Warrant issued | 200 | 200 | |||
Stock-based compensation and service fee, shares | 3,250 | ||||
Stock-based compensation and service fee, amount | $ 5,070 | (1,214) | 3,856 | ||
Net loss | (10,475) | (10,475) | |||
Ending balance, shares at Sep. 30, 2019 | 70,468 | ||||
Ending balance, amount at Sep. 30, 2019 | $ 136,554 | $ (589) | $ 35,285 | $ (165,600) | $ 5,650 |
Basis of preparation
Basis of preparation | 9 Months Ended |
Sep. 30, 2019 | |
Basis Of Preparation | |
NOTE 1 - Basis of preparation | (a) Statement of compliance: The accompanying Condensed Consolidated Balance Sheet as of December 31, 2018, which was derived from audited financial statements, and the unaudited interim consolidated financial statements of the Corporation have been prepared in accordance with International Financial Reporting Standards (“IFRS”) and its interpretations as issued by the International Accounting Standards Board (“IASB”) and in accordance with IAS 34, Interim Financial Reporting The consolidated condensed interim consolidated financial statements were authorized for issuance by the Board of Directors on November 13, 2019. (b) Basis of measurement: The condensed unaudited interim consolidated financial statements have been prepared on a going concern and on the historical cost basis. The functional currency of the Corporation is the US dollar. Use of estimates and judgments The preparation of the consolidated financial statements in conformity with IFRS requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, income and expenses. Information about critical judgments in applying accounting policies and assumption and estimation uncertainties that have the most significant effect on the amounts recognized in the consolidated financial statements is noted below: Significant estimates include, but are not limited to, the estimation of useful lives of equipment for purposes of depreciation, useful life of lease RUA for purpose of amortization and the valuation of common shares and stock option issued for services. |
Liquidity, Going Concern and Ma
Liquidity, Going Concern and Management’s Response | 9 Months Ended |
Sep. 30, 2019 | |
Liquidity Going Concern And Managements Response | |
NOTE 2 - Liquidity, Going Concern and Management’s Response | Management believes that current cash balances as of September 30, 2019 is sufficient to finance the Company’s operations for at least the next 12 months. However, if necessary, the Company intends to seek additional equity or other financing, should the Company’s liquidity need change. Considering recent developments and the need for additional financing, there exists a material uncertainty that casts substantial doubt about the Corporation’s ability to continue as a going concern. These financial statements do not reflect adjustments that would be necessary. If the going concern assumption is not appropriate, then adjustments may be necessary to the carrying value and classification of assets and liabilities and reported results of operations and such an adjustment could be material. |
Share capital
Share capital | 9 Months Ended |
Sep. 30, 2019 | |
Share Capital | |
NOTE 3 - Share capital | The holders of common shares are entitled to receive dividends as declared, which is at the discretion of the Corporation, and are entitled to one vote per share at the annual general meeting of the Corporation. The Corporation has never paid any dividends. (a) Private placements: At the nine-month period ended September 30, 2019, the Corporation completed one private placement to an accredited investor for a total of $5,000,000. (b) Stock options: The Corporation has established a stock option plan (the “Plan”) for its key employees, its officers and directors, and certain consultants. The Plan is administered by the Board of Directors of the Corporation. The Board may from time to time designate individuals to whom options to purchase common shares of the Corporation may be granted, the number of shares to be optioned to each, and the option price per share. The option price per share cannot involve a discount to the market price at the time the option is granted. The maximum number of shares which may be optioned under the stock option plan is 7,500,000. The maximum number of shares which may be optioned to any one individual is 15% of the total issued and outstanding common shares. Options under the Plan expire up to ten years after the grant date and vest either immediately or over periods up to six years and are equity-settled. As at September 30, 2019, 1,410,000 options could still be granted by the Corporation. The following table provides the activity of stock option awards during the nine-month period ended September 30, 2019 and for options outstanding and exercisable at the end of the nine-month period ended September 30, 2019, the range of exercise price and the weighted average years to expiration. Weighted Range average of remaining exercise contractual Number price life (in years) Outstanding, December 31, 2018 5,740,000 $ 1.76 6.37 Expired / Cancelled (10,000 ) 3.43 - Granted 360,000 2.08 9.51 Outstanding, September 30, 2019 6,090,000 $ 1.78 5.86 Options exercisable 6,090,000 $ 1.78 5.86 (c) Stock-based compensation: Stock -based compensation includes stock option and stock granted to employees. Three months Nine months ended September 30, ended September 30, Employee expenses 2019 2018 2019 2018 Stock options and stock compensation granted in: 2015 545,602 828,876 1,832,425 2,749,645 2018 – 341,821 13,038 341,821 2019 – – 680,290 – Total stock-based compensation expense recognized $ 545,602 $ 1,170,697 $ 2,525,753 $ 3,091,466 The stock-based compensation expense is disaggregated in the statements of operations and comprehensive loss as follows: Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Stock-based compensation pertaining to general and administrative $ 272,801 $ 728,438 $ 1,596,502 $ 1,688,822 Stock-based compensation pertaining to research and development 272,801 442,259 929,251 1,402,644 Total $ 545,602 $ 1,170,697 $ 2,525,753 $ 3,091,466 360,000 stock option were granted to five directors during the nine-month period ended September 30, 2019 and no options were granted in the comparative period in 2018. On June 12, 2019, the corporation issued one million shares with a total value of $1,330,000 to a related party for their significant contributions and development of the company from year 2014 to 2019. (d) Warrants : In the first quarter of 2019, the Corporation issued 2,500,000 warrants in connection with one private placement referred to in note 3 (a). Each warrant entitles the holder to acquire one common share of the Corporation at an exercise price of $8.00 with a five year term. The warrant was valued at $200,000 and recorded as part of additional paid in capital. |
Earnings per share
Earnings per share | 9 Months Ended |
Sep. 30, 2019 | |
Earnings Per Share [Abstract] | |
NOTE 4 - Earnings per share | Weighted average number of common shares outstanding: Three months Nine months ended September 30, ended September 30, 2019 2018 2019 2018 Issued common shares at beginning of period 69,718,706 60,742,923 64,676,256 56,378,306 Effect of shares issued 255,435 776,449 3,819,664 2,920,675 Weighted average number of common shares outstanding – basic 69,974,141 61,519,372 68,495,920 59,298,981 Weighted average number of shares outstanding – diluted 69,974,141 61,519,372 68,495,920 59,298,981 There is no difference in diluted as compared to basic earnings per share as the impact would be antidilutive as a result of the net loss. |
Operating lease and other commi
Operating lease and other commitment | 9 Months Ended |
Sep. 30, 2019 | |
Operating Lease And Other Commitment | |
NOTE 5 - Operating lease and other commitment | Effective for annual reporting periods beginning on or after January 1, 2019, IFRS 16 introduced a new approach to lessee accounting that requires a lessee to recognize assets and liabilities for the rights and obligations created by leases. IFRS 16 requires a lessee to recognize assets and liabilities for all leases with a term of more than 12 months. The IASB concluded that such an approach will result in a more faithful representation of a lessee’s assets and liabilities and, together with enhanced disclosures, greater transparency of a lessee’s financial leverage and capital employed. We adopted this standard on January 1, 2019, with an immaterial cumulative adjustment of $11,667 to accumulated deficit rather than retrospectively adjusting prior periods. This adoption approach resulted in a balance sheet presentation that is not comparable to the prior period. We used an incremental borrowing rate as a discount rate for our operating leases. The discount rate ranges from 6.89% to 7.10%. The adoption of this standard resulted in the recognition of operating lease assets of approximately $393,000 and liabilities of approximately $405,000 as of January 1,2019. The average remaining years for our lease are 1.06 years as of September 30, 2019. The following table provides the changes in the Corporation’s operating lease right-of-use assets for the nine months ended September 30, 2019: (amounts in dollars) Operating lease right-of-use asset Balance as of January 1, 2019 $ 393,110 Accumulated amortization (189,376 ) Other (4,486 ) Balance as of September 30, 2019 $ 199,248 The following table provides the changes in the Corporation’s operating lease liability for the nine months ended September 30, 2019: (amounts in dollars) Total Balance as of January 1, 2019 $ 404,777 Repayments of lease liability (188,094 ) Other (2,238 ) Balances as of September 30, 2019 $ 214,445 Lease liability due within one year $ 66,212 Lease liability long term $ 148,233 The total future commitment payment amount for above lease is $223,026 comparing an outstanding lease liability of $214,445 as of September 30, 2019. The difference is due to various borrowing discount rate. |
Related Party Transactions
Related Party Transactions | 9 Months Ended |
Sep. 30, 2019 | |
Related party transactions [abstract] | |
NOTE 6 - Related Party Transactions | The transactions we have with related parties are compensation arrangements for current compensation, share based compensation and compensation under options compensation to our officers and directors Executive officers and directors participate in the Corporation’s stock option plan. Certain Executive officers are covered under the Corporation’s health plan. Key management personnel compensation is comprised of: Three months Nine months ended September 30, ended September 30, Description 2019 2018 2019 2018 Salaries $ - $ - $ - $ - Short-term employee benefits 560 471 1,668 1,433 Stock-based compensation 545,602 1,142,876 2,512,715 3,063,645 Total $ 546,162 $ 1,143,347 $ 2,514,383 3,065,078 Total honorariums to the independent directors of the Corporation for participating in Board and Committee meetings were nil for the period ended September 30, 2019 and 2018, respectively. Our Chief Financial Officer receives no compensation as an individual and receives no deferred or incentive compensation. We do make payments in the form of contract for services rendered to a corporation controlled by him. Amounts paid under this arrangement were $360,000 for the nine months period ended September 30, 2019 and $322,500 for the nine months period ended September 30, 2018, respectively. Our Corporate Legal Counsel receives no compensation as an individual and receives no deferred or incentive compensation. We do make payments in the form of contract for services rendered to a corporation controlled by him. Amounts paid under this arrangement were $241,660 for the nine months period ended September 30, 2019 and $150,874 for the nine months period ended September 30, 2018, respectively. |
Subsequent events
Subsequent events | 9 Months Ended |
Sep. 30, 2019 | |
Subsequent Events | |
NOTE 7 - Subsequent events | The Corporation has evaluated all transactions from September 30, 2019 through the financial statement issuance date for subsequent event disclosure consideration and noted no significant subsequent event that needs to be disclosed. |
Share capital (Tables)
Share capital (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Share Capital Tables Abstract | |
Weighted average exercise price, and the weighted average remaining contractual life | Weighted Range average of remaining exercise contractual Number price life (in years) Outstanding, December 31, 2018 5,740,000 $ 1.76 6.37 Expired / Cancelled (10,000 ) 3.43 - Granted 360,000 2.08 9.51 Outstanding, September 30, 2019 6,090,000 $ 1.78 5.86 Options exercisable 6,090,000 $ 1.78 5.86 |
Stock and stock option-based compensation expense | Three months Nine months ended September 30, ended September 30, Employee expenses 2019 2018 2019 2018 Stock options and stock compensation granted in: 2015 545,602 828,876 1,832,425 2,749,645 2018 – 341,821 13,038 341,821 2019 – – 680,290 – Total stock-based compensation expense recognized $ 545,602 $ 1,170,697 $ 2,525,753 $ 3,091,466 |
Stock-based compensation expense | Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Stock-based compensation pertaining to general and administrative $ 272,801 $ 728,438 $ 1,596,502 $ 1,688,822 Stock-based compensation pertaining to research and development 272,801 442,259 929,251 1,402,644 Total $ 545,602 $ 1,170,697 $ 2,525,753 $ 3,091,466 |
Earnings per share (Tables)
Earnings per share (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Earnings Per Share | |
Weighted average number of common shares outstanding | Three months Nine months ended September 30, ended September 30, 2019 2018 2019 2018 Issued common shares at beginning of period 69,718,706 60,742,923 64,676,256 56,378,306 Effect of shares issued 255,435 776,449 3,819,664 2,920,675 Weighted average number of common shares outstanding – basic 69,974,141 61,519,372 68,495,920 59,298,981 Weighted average number of shares outstanding – diluted 69,974,141 61,519,372 68,495,920 59,298,981 |
Operating lease and other com_2
Operating lease and other commitment (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Operating Lease And Other Commitment Tables Abstract | |
Operating lease right-of-use assets | (amounts in dollars) Operating lease right-of-use asset Balance as of January 1, 2019 $ 393,110 Accumulated amortization (189,376 ) Other (4,486 ) Balance as of September 30, 2019 $ 199,248 |
Operating lease liability | (amounts in dollars) Total Balance as of January 1, 2019 $ 404,777 Repayments of lease liability (188,094 ) Other (2,238 ) Balances as of September 30, 2019 $ 214,445 Lease liability due within one year $ 66,212 Lease liability long term $ 148,233 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Related Party Transactions | |
Share based compensation and compensation under options for our officers and directors | Three months Nine months ended September 30, ended September 30, Description 2019 2018 2019 2018 Salaries $ - $ - $ - $ - Short-term employee benefits 560 471 1,668 1,433 Stock-based compensation 545,602 1,142,876 2,512,715 3,063,645 Total $ 546,162 $ 1,143,347 $ 2,514,383 3,065,078 |
Share capital (Details)
Share capital (Details) - Stock Option [Member] | 9 Months Ended |
Sep. 30, 2019$ / sharesshares | |
Disclosure of financial assets [line items] | |
Number of outstanding balance, Beginning | shares | 5,740,000 |
Expired / Cancelled | shares | (10,000) |
Granted | shares | 360,000 |
Number of outstanding balance, Ending | shares | 6,090,000 |
Options exercisable | shares | 6,090,000 |
Weighted average exercise price, Beginning | $ / shares | $ 1.76 |
Expired / Cancelled | $ / shares | 3.43 |
Granted | $ / shares | 2.08 |
Weighted average exercise price, Ending | $ / shares | 1.78 |
Options exercisable | $ / shares | $ 1.78 |
Weighted average remaining contractual life (in years) | 6 years 4 months 13 days |
Expired / Cancelled | 0 years |
Granted | 9 years 6 months 3 days |
Weighted average remaining contractual life options outstanding | 5 years 10 months 10 days |
Weighted average remaining contractual life options exercisable (in years) | 5 years 10 months 10 days |
Share capital (Details 1)
Share capital (Details 1) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Employee expense | ||||
Total stock-based compensation expense recognized | $ 545,602 | $ 1,170,697 | $ 2,525,753 | $ 3,091,466 |
Granted in 2015 [Member] | ||||
Employee expense | ||||
Total stock-based compensation expense recognized | 545,602 | 828,876 | 1,832,425 | 2,749,645 |
Granted in 2018 [Member] | ||||
Employee expense | ||||
Total stock-based compensation expense recognized | 341,821 | 13,038 | 341,821 | |
Granted in 2019 [Member] | ||||
Employee expense | ||||
Total stock-based compensation expense recognized | $ 680,290 |
Share capital (Details 2)
Share capital (Details 2) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Share Capital Details 2Abstract | ||||
Stock-based compensation pertaining to general and administrative | $ 272,801 | $ 728,438 | $ 1,596,502 | $ 1,688,822 |
Stock-based compensation pertaining to research and development | 272,801 | 442,259 | 929,251 | 1,402,644 |
Total stock-based compensation expense recognized | $ 545,602 | $ 1,170,697 | $ 2,525,753 | $ 3,091,466 |
Share capital (Details Narrativ
Share capital (Details Narrative) | Jun. 12, 2019USD ($)shares | Sep. 30, 2019USD ($)Integers / number$ / sharesshares |
Disclosure of transactions between related parties [line items] | ||
Stock option plan, description | The maximum number of shares which may be optioned under the stock option plan is 7,500,000. The maximum number of shares which may be optioned to any one individual is 15% of the total issued and outstanding common shares. Options under the Plan expire up to ten years after the grant date and vest either immediately or over periods up to six years and are equity-settled. | |
Stock option available to be granted | 1,410,000 | |
Stock option granted | 360,000 | |
Number of directors | Integers / number | 5 | |
Private Placements [Member] | ||
Disclosure of transactions between related parties [line items] | ||
Proceeds from private placement | $ | $ 5,000,000 | |
Number of warrants issued | 2,500,000 | |
Value of warrant issued | $ | $ 200,000 | |
Term of warrants | 5 years | |
Warrants exercise price | $ / shares | $ 8 | |
Common stock shares issuable upon exercise of each warrant | Each warrant entitles the holder to acquire one common share of the Corporation at an exercise price of $8.00 with a five years term | |
Common stock issued for services, share | 1,000,000 | |
Common stock issued for services, value | $ | $ 1,330,000 |
Earnings per share (Details)
Earnings per share (Details) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Earnings Per Share Details Abstract | ||||
Issued common shares at beginning of period | 69,718,706 | 60,742,923 | 64,676,256 | 56,378,306 |
Effect of shares issued | 255,435 | 776,449 | 3,819,664 | 2,920,675 |
Weighted average number of common shares outstanding basic | 69,974,141 | 61,519,372 | 68,495,920 | 59,298,981 |
Weighted average number of shares outstanding b diluted | 69,974,141 | 61,519,372 | 68,495,920 | 59,298,981 |
Operation lease and other commi
Operation lease and other commitment (Details) | 9 Months Ended |
Sep. 30, 2019USD ($) | |
Operation Lease And Other Commitment | |
Operating lease right-of-use assets, beginning balance | $ 393,110 |
Operating lease right-of-use assets, accumulated amortization | (189,376) |
Operating lease right-of-use assets, other | (4,486) |
Operating lease right-of-use assets, ending balance | $ 199,248 |
Operation lease and other com_2
Operation lease and other commitment (Details 1) | 9 Months Ended |
Sep. 30, 2019USD ($) | |
Operation Lease And Other Commitment Details 1Abstract | |
Operating lease liability , beginning balance | $ 404,777 |
Operating lease liability, repayments of lease liability | (188,094) |
Operating lease liability, other | (2,238) |
Operating lease liability, ending balance | 214,445 |
Lease liability due within one year | 66,212 |
Lease liability long term | $ 148,233 |
Operation lease and other com_3
Operation lease and other commitment (Details Narrative) | 9 Months Ended |
Sep. 30, 2019USD ($) | |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |
Total future commitment payment due | $ 223,026 |
Operating lease liability | 214,445 |
January 1, 2019 [Member] | |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |
Immaterial cumulative adjustment to accumulated deficit upon adoption of IFRS 16 | $ 11,667 |
Description for discount rate changes upon adoption of IFRS 16 | The discount rate ranges from 6.89% to 7.10% |
Operating lease assets upon adoption of IFRS 16 | $ 393,000 |
Operating lease liabilities upon adoption of IFRS 16 | $ 405,000 |
Average remaining term of lease | 1 year 22 days |
Related Party Transactions (Det
Related Party Transactions (Details) - Officers And Directors [Member] - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Disclosure of transactions between related parties [line items] | ||||
Salaries | ||||
Short-term employee benefits | 560 | 471 | 1,668 | 1,433 |
Stock-based compensation | 545,602 | 1,142,876 | 2,512,715 | 3,063,645 |
Total | $ 546,162 | $ 1,143,347 | $ 2,514,383 | $ 3,065,078 |
Related Party Transactions (D_2
Related Party Transactions (Details Narrative) - USD ($) | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Corporate Legal Counsel [Member] | ||
Disclosure of transactions between related parties [line items] | ||
Amounts paid under contract for services | $ 241,660 | $ 150,874 |
Chief Financial Officers [Member] | ||
Disclosure of transactions between related parties [line items] | ||
Amounts paid under contract for services | $ 360,000 | $ 322,500 |