Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2018 | Nov. 13, 2018 | |
Document Information [Line Items] | ||
Entity Registrant Name | Zomedica Pharmaceuticals Corp. | |
Entity Central Index Key | 1,684,144 | |
Trading Symbol | zom | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | true | |
Entity Small Business | true | |
Entity Common Stock, Shares Outstanding (in shares) | 94,796,209 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Entity Ex Transition Period | true |
Condensed Unaudited Interim Con
Condensed Unaudited Interim Consolidated Balance Sheets - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Current assets: | ||
Cash and cash equivalents | $ 526,817 | $ 3,448,147 |
Prepaid expenses and deposits | 1,481,673 | 786,273 |
Trade and other receivables | 37,742 | 28,272 |
2,046,232 | 4,262,692 | |
Prepaid expenses and deposits | 1,374,260 | 566,832 |
Property and equipment | 756,823 | 371,157 |
Intangible assets | 13,331 | 15,141 |
4,190,646 | 5,215,822 | |
Current liabilities: | ||
Accounts payable and accrued liabilities | 1,280,379 | 828,737 |
1,280,379 | 828,737 | |
Shareholders' equity: | ||
Capital stock, authorized unlimited common shares without par value, issued and outstanding 94,596,209 common shares (2017 - 90,225,869) | 25,373,456 | 18,244,659 |
Additional paid-in capital | 1,388,916 | 1,768,526 |
Accumulated deficit | (23,852,105) | (15,626,100) |
2,910,267 | 4,387,085 | |
$ 4,190,646 | $ 5,215,822 |
Condensed Unaudited Interim C_2
Condensed Unaudited Interim Consolidated Balance Sheets (Parentheticals) - $ / shares $ / shares in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2018 | Dec. 31, 2017 | |
Capital stock, unlimited common shares authorized | Unlimited | Unlimited |
Capital stock, no par value (in dollars per share) | $ 0 | $ 0 |
Capital stock, shares issued (in shares) | 94,596,209 | 90,225,869 |
Capital stock, shares outstanding (in shares) | 94,596,209 | 90,225,869 |
Condensed Unaudited Interim C_3
Condensed Unaudited Interim Consolidated Statements of Operations and Comprehensive Loss - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Expenses: | ||||
Research and development | $ 630,371 | $ 465,495 | $ 3,765,332 | $ 1,586,179 |
General and administrative | 834,570 | 1,350,726 | 3,243,232 | 2,926,361 |
Professional fees | 293,484 | 246,192 | 1,001,886 | 942,385 |
Amortization | 431 | 699 | 1,810 | 2,098 |
Depreciation | 86,162 | 22,903 | 150,320 | 65,994 |
Loss from operations | 1,845,018 | 2,086,015 | 8,162,580 | 5,523,017 |
Gain on settlement of liabilities | (5,000) | |||
Loss on sale of equipment | 69,382 | 69,382 | ||
Foreign exchange gain | (4,122) | (5,333) | (5,957) | (16,229) |
Loss before income taxes | 1,910,278 | 2,080,682 | 8,226,005 | 5,501,788 |
Income tax expense | ||||
Net loss and comprehensive loss | $ 1,910,278 | $ 2,080,682 | $ 8,226,005 | $ 5,501,788 |
Weighted average number of common shares - basic and diluted (in shares) | 94,514,905 | 88,844,534 | 92,534,667 | 86,708,499 |
Loss per share - basic and diluted (in dollars per share) | $ (0.02) | $ (0.02) | $ (0.09) | $ (0.06) |
Condensed Unaudited Interim C_4
Condensed Unaudited Interim Consolidated Statements of Shareholders' Equity - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total | ||
Balance (in shares) at Dec. 31, 2016 | 83,964,569 | |||||
Balance at Dec. 31, 2016 | $ 10,189,973 | $ 1,205,456 | $ (7,561,028) | $ 3,834,401 | ||
Stock issuance for services (in shares) | 43,613 | |||||
Stock issuance for services | $ 45,000 | 45,000 | ||||
Stock issuance for financing, net of costs (in shares) | 4,405,373 | |||||
Stock issuance for financing, net of costs | $ 6,516,650 | 6,516,650 | ||||
Stock-based compensation | 837,531 | $ 837,531 | ||||
Stock issued due to exercise of options (in shares) | 925,000 | 925,000 | ||||
Stock issued due to exercise of options | $ 130,354 | (30,156) | $ 100,198 | |||
Net loss for the period | (5,501,788) | (5,501,788) | ||||
Balance (in shares) at Sep. 30, 2017 | 89,338,555 | |||||
Balance at Sep. 30, 2017 | $ 16,881,977 | 2,012,831 | (13,062,816) | 5,831,992 | ||
Balance (in shares) at Dec. 31, 2017 | 90,225,869 | |||||
Balance at Dec. 31, 2017 | $ 18,244,659 | 1,768,526 | (15,626,100) | 4,387,085 | ||
Stock issuance for services (in shares) | [1] | 641,717 | ||||
Stock issuance for services | $ 1,238,513 | [1] | 1,238,513 | |||
Stock issuance for financing, net of costs (in shares) | [2] | 1,861,627 | ||||
Stock issuance for financing, net of costs | $ 3,966,362 | [2] | 3,966,362 | |||
Stock-based compensation | 7,288 | $ 7,288 | ||||
Stock issued due to exercise of options (in shares) | 1,866,996 | 1,866,996 | ||||
Stock issued due to exercise of options | $ 1,923,922 | (386,898) | $ 1,537,024 | |||
Net loss for the period | (8,226,005) | (8,226,005) | ||||
Balance (in shares) at Sep. 30, 2018 | 94,596,209 | |||||
Balance at Sep. 30, 2018 | $ 25,373,456 | $ 1,388,916 | $ (23,852,105) | $ 2,910,267 | ||
[1] | On May 10, 2018, the Company issued 641,717 common shares in accordance with a development, commercialization and exclusive distribution agreement with Seraph Biosciences, Inc. and recognized $1,238,513 as a research and development expense in the condensed unaudited interim consolidated financial statements. | |||||
[2] | On May 15, 2018, the Company issued 255,815 common shares for gross proceeds of $550,000. On June 28, 2018, the Company issued 1,605,812 common shares for gross proceeds of $3,452,496. The Company recorded $23,806 of share issuance costs as an offset to capital stock. |
Condensed Unaudited Interim C_5
Condensed Unaudited Interim Consolidated Statements of Cash Flows - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Cash flows used in operating activities: | ||||
Net loss for the period | $ (1,910,278) | $ (2,080,682) | $ (8,226,005) | $ (5,501,788) |
Adjustments for | ||||
Depreciation | 86,162 | 22,903 | 150,320 | 65,994 |
Amortization | 431 | 699 | 1,810 | 2,098 |
Loss on sale of equipment | 69,382 | 69,382 | ||
Stock issued for services | 1,238,513 | 45,000 | ||
Stock-based compensation | 675,940 | 7,288 | 837,531 | |
Change in non-cash operating working capital | ||||
Trade and other receivable | 11,885 | (13,340) | (9,470) | (10,231) |
Prepaid expenses | 56,399 | 45,160 | (191,365) | (15,239) |
Deposits | (1,281,617) | 34,228 | (1,311,463) | (181,193) |
Accounts payable and accrued liabilities | (403,423) | (128,106) | 451,643 | (351,134) |
(3,371,059) | (1,443,198) | (7,819,347) | (5,108,962) | |
Cash flows from financing activities: | ||||
Cash proceeds from financing | 3,320,000 | 4,002,496 | 6,570,000 | |
Cash received from stock option exercises | 98,715 | 60,655 | 1,537,024 | 100,198 |
Cash paid on stock issuance costs | (12,328) | (19,226) | (36,135) | (53,350) |
Repayments of shareholder loan | (6,726) | |||
86,388 | 3,361,429 | 5,503,385 | 6,610,122 | |
Cash flows used in investing activities: | ||||
Investment in property and equipment | (467,675) | (4,775) | (605,368) | (164,576) |
(467,675) | (4,775) | (605,368) | (164,576) | |
Increase (decrease) in cash and cash equivalents | (3,752,346) | 1,913,456 | (2,921,330) | 1,336,584 |
Cash and cash equivalents, beginning of period | 4,279,163 | 2,649,808 | 3,448,147 | 3,226,680 |
Cash and cash equivalents, end of period | $ 526,817 | $ 4,563,264 | $ 526,817 | $ 4,563,264 |
Note 1 - Nature of Operations a
Note 1 - Nature of Operations and Going Concern | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Substantial Doubt about Going Concern [Text Block] | 1. Nature of operations and going concern Zomedica Pharmaceuticals Corp. (the “Company”) was incorporated on January 7, 2013 2.4 On April 21, 2016, 9674128 May 2, 2016 June 21, 2016, Zomedica has one 100 190, 48108 1250, 639 5th T2P 0M9. Going concern These condensed unaudited interim consolidated financial statements have been prepared on a going concern basis, which contemplates that the Company will be able to realize its assets and discharge its liabilities in the normal course of business. Accordingly, they do not |
Note 2 - Basis of Preparation
Note 2 - Basis of Preparation | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Basis of Accounting [Text Block] | 2. Basis of preparation The accounting policies set out below have been applied consistently in the condensed unaudited interim consolidated financial statements. Basis of consolidation These condensed unaudited interim consolidated financial statements include the accounts of the Company and its wholly owned operating subsidiary, Zomedica Pharmaceuticals, Inc. All inter-company accounts and transactions have been eliminated on consolidation. |
Note 3 - Significant Accounting
Note 3 - Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 3. Significant accounting policies Use of estimates The preparation of the condensed unaudited interim consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed unaudited interim consolidated financial statements and the reported amounts of revenue and expenses during the period. Actual results could differ from those estimates. Areas where significant judgment is involved in making estimates are: the fair values of financial assets and liabilities; the determination of fair value of stock-based compensation; the useful lives of property and equipment; and forecasting future cash flows for assessing the going concern assumption. Basis of measurement The condensed unaudited interim consolidated financial statements have been prepared on the historical cost basis except as otherwise noted. Functional and reporting currencies The Company’s and subsidiary’s functional currency, as determined by management, is US dollars, which is also the Company’s reporting currency. The accounting policies set out below have been applied consistently to all periods and companies presented in the condensed unaudited interim consolidated financial statements. Research and development Research and development costs related to continued research and development programs are expensed as incurred in accordance with ASC topic 730. Translation of foreign currencies In respect of other transactions denominated in currencies other than the Company and its wholly owned operating subsidiaries’ functional currencies, the monetary assets and liabilities are translated at the period end rates. Revenue and expenses are translated at rates of exchange prevailing on the transaction dates. All of the exchange gains or losses resulting from these other transactions are recognized in the condensed unaudited interim consolidated statements of operations and comprehensive loss. Stock-based compensation The Company measures the cost of equity-settled transactions by reference to the fair value of the equity instruments at the date at which they are granted if the fair value of the goods or services received by the Company cannot be reliably estimated. The Company calculates stock-based compensation using the fair value method, under which the fair value of the options at the grant date is calculated using the Black-Scholes Option Pricing Model, and subsequently expensed over the vesting period of the option. The provisions of the Company's stock-based compensation plans do not The Company estimates forfeitures at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Loss per share Basic loss per share (“EPS”) is computed by dividing the loss attributable to common shareholders by the weighted average number of common shares outstanding. Diluted EPS reflects the potential dilution that could occur from common shares issuable through the exercise or conversion of stock options, restricted stock awards, warrants and convertible securities. In certain circumstances, the conversion of options are excluded from diluted EPS if the effect of such inclusion would be anti-dilutive. The dilutive effect of stock options is determined using the treasury stock method. Stock options to purchase common shares of the Company during the period were not nine September 30, 2018 Comprehensive loss The Company follows ASC topic 220. no Future accounting pronouncements In February 2016, No. 2016 02, 842 842 December 15, 2018. |
Note 4 - Critical Accounting Ju
Note 4 - Critical Accounting Judgments and Key Sources of Estimation Uncertainty | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Critical Accounting Judgments and Key Sources of Estimation Uncertainly [Text Block] | 4. Critical accounting judgments and key sources of estimation uncertainty The preparation of financial statements requires management to make judgments, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, and revenue and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the judgments about carrying values of assets and liabilities that are not may The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and further periods if the review affects both current and future periods. Critical areas of estimation and judgements in applying accounting policies include the following: Going concern These condensed unaudited interim consolidated financial statements have been prepared in accordance with U.S. GAAP on a going concern basis, which assumes the realization of assets and discharge of liabilities in the normal course of business within the foreseeable future. Management uses judgment in determining assumptions for cash flow projections, such as anticipated financing, anticipated sales and future commitments to assess the Company’s ability to continue as a going concern. A critical judgment is that the Company continues to raise funds going forward and satisfy their obligations as they become due. Useful lives of property and equipment As described in Note 3 nine September 30, 2018 September 30, 2017, not Deferred income taxes The calculation of deferred income taxes is based on assumptions which are subject to uncertainty as to timing and which tax rates are expected to apply when temporary differences reverse. Deferred tax recorded is also subject to uncertainty regarding the magnitude of non-capital losses available for carry forward and of the balances in various tax pools. By their nature, these estimates are subject to measurement uncertainty, and the effect on the financial statements from changes in such estimates in future period could be material. Deferred tax assets are recognized to the extent that it is probable that they will be able to be utilized against future taxable income. Deferred tax assets are reviewed at each balance sheet date and adjusted to the extent that it is no Stock-based payments The Company estimates the fair value of convertible securities such as options using the Black-Scholes option-pricing model which requires significant estimation around assumptions and inputs such as expected term to maturity, expected volatility and expected dividends. |
Note 5 - Prepaid Expenses and D
Note 5 - Prepaid Expenses and Deposits | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Prepaid Rent [Text Block] | 5. Prepaid expenses and deposits The Company entered into a lease agreement with Wickfield Phoenix LLC effective on August 23, 2016. $801,973 August 26, 2016 July 31, 2018 $1,269,073 one September 30, 2018, $509,380 December 31, 2017 - $155,220 |
Note 6 - Property and Equipment
Note 6 - Property and Equipment | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 6. Property and equipment Computer equipment Furniture and equipment Laboratory equipment Leasehold improvements Total Cost Balance at December 31, 2016 $ 61,598 $ 7,364 $ 243,529 $ 25,672 $ 338,163 Additions 89,557 68,694 2,200 11,285 171,736 Balance at December 31, 2017 151,155 76,058 245,729 36,957 509,899 Additions 11,701 105,821 246,375 250,471 614,368 Disposals - - (139,466 ) (10,937 ) (150,403 ) Balance at September 30, 2018 162,856 181,879 352,638 276,491 973,864 Accumulated depreciation Balance at December 31, 2016 13,858 1,490 29,783 3,998 49,129 Depreciation 28,944 10,355 45,092 5,222 89,613 Balance at December 31, 2017 42,802 11,845 74,875 9,220 138,742 Depreciation 66,405 11,130 42,082 30,703 150,320 Disposals - - (61,546 ) (10,475 ) (72,021 ) Balance at September 30, 2018 109,207 22,975 55,411 29,448 217,041 109,207 22,975 55,411 29,448 217,041 Net book value as at: December 31, 2017 $ 108,353 $ 64,213 $ 170,854 $ 27,737 $ 371,157 September 30, 2018 $ 53,649 $ 158,904 $ 297,227 $ 247,043 $ 756,823 In August 2018, $462 $77,920 $9,000. $69,382. |
Note 7 - Intangible Assets
Note 7 - Intangible Assets | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | 7. Intangible assets Computer software Trademarks Total Cost Balance at December 31, 2016 $ 5,143 $ 16,236 $ 21,379 Additions - - - Balance at December 31, 2017 5,143 16,236 21,379 Additions - - - Balance at September 30, 2018 5,143 16,236 21,379 Accumulated amortization Balance at December 31, 2016 2,428 1,013 3,441 Amortization 1,715 1,082 2,797 Balance at December 31, 2017 4,143 2,095 6,238 Amortization 1,000 810 1,810 Balance at September 30, 2018 5,143 2,905 8,048 Net book value as at: December 31, 2017 $ 1,000 $ 14,141 $ 15,141 September 30, 2018 $ - $ 13,331 $ 13,331 |
Note 8 - Loan Arrangements
Note 8 - Loan Arrangements | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 8. Loan arrangements On October 17, 2017, may $5,000,000, five 5 may one $250,000 one not two may fourteen 14% September 30, 2018, no |
Note 9 - Capital Stock
Note 9 - Capital Stock | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 9. Capital stock The Company is authorized to issue an unlimited number of common stock, all without par value. Issued and outstanding common stock: Capital Number stock Balance at December 31, 2016 83,964,569 $ 10,189,973 Stock issuance for services 43,613 45,000 Stock issued due to exercise of options 925,000 130,354 Stock issuance for financing, net of costs 4,405,373 6,516,650 Balance at September 30, 2017 89,338,555 $ 16,881,977 Balance at December 31, 2017 90,225,869 $ 18,244,659 Stock issuance for services (i) 641,717 1,238,513 Stock issued due to exercise of options (Note 10) 1,866,996 1,923,922 Stock issuance for financing, net of costs (ii) 1,861,627 3,966,362 Balance at September 30, 2018 94,596,209 $ 25,373,456 i. On May 10, 2018, 641,717 $1,238,513 ii. On May 15, 2018, 255,815 $550,000. June 28, 2018, 1,605,812 $3,452,496. $23,806 |
Note 10 - Stock-based Compensat
Note 10 - Stock-based Compensation | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 10. Stock-based compensation During the three September 30, 2018, 85,000 three September 30, 2017, 427,940 nine September 30, 2018 1,866,996, nine September 30, 2017, 925,000 1,815,000 one The continuity of stock options are as follows: Number of Options Weighted Avg Exercise Price (CDN$) Balance at December 31, 2016 7,975,000 0.84 Stock options exercised on February 21, 2017 (10,000 ) 0.25 Stock options exercised on February 21, 2017 (400,000 ) 0.05 Options issued on February 24, 2017 535,000 1.50 Stock options exercised on May 8, 2017 (7,060 ) 1.50 Stock options cancelled on May 17, 2017 (10,000 ) 1.50 Stock options exercised on May 23, 2017 (80,000 ) 0.25 Stock options exercised on July 6, 2017 (200,000 ) 0.05 Stock options exercised on July 17, 2017 (220,000 ) 0.25 Options issued on August 14, 2017 1,280,000 2.75 Stock options exercised on August 29, 2017 (7,940 ) 1.50 Stock options exercised on December 19, 2017 (25,000 ) 0.25 Stock options exercised on December 19, 2017 (750,000 ) 1.50 Balance at December 31, 2017 8,080,000 1.21 Stock options exercised on January 8, 2018 (124,000 ) 0.25 Stock options exercised on January 26, 2018 (100,000 ) 0.25 Stock options exercised on March 8, 2018 (50,000 ) 0.25 Stock options exercised on March 13, 2018 (176,000 ) 0.25 Stock options exercised on March 22, 2018 (50,000 ) 0.25 Stock options exercised on March 26, 2018 (240,000 ) 0.25 Stock options exercised on March 28, 2018 (325,000 ) 0.25 Stock options exercised on March 29, 2018 (562,996 ) 2.75 Stock options exercised on April 20, 2018 (154,000 ) 0.25 Stock options expired on April 21, 2018 (1,946,000 ) 0.25 Stock options cancelled on June 8, 2018 (100,000 ) 1.50 Stock options cancelled on June 21, 2018 (400,000 ) 1.50 Stock options cancelled on August 14, 2018 (75,000 ) 2.75 Stock options exercised on September 27, 2018 (85,000 ) 1.50 Stock options cancelled on September 28, 2018 (5,000 ) 2.75 Balance at September 30, 2018 3,687,004 1.72 As at September 30, 2018, Grant date Exercise price (CDN$) Number of options issued and outstanding Number of vested options outstanding Weighted avg remaining life (years) December 21, 2016 1.50 2,415,000 2,415,000 0.22 December 21, 2016 1.50 100,000 100,000 0.12 February 24, 2017 1.50 35,000 35,000 0.40 February 24, 2017 1.50 500,000 500,000 0.12 August 14, 2017 (a) 2.75 387,004 387,004 0.87 August 14, 2017 (a) 2.75 250,000 250,000 0.12 The fair value of options granted during the three nine September 30, 2018 December 31, 2017 February 24, 2017 August 14, 2017 (a) August 14, 2017 (b) Volatility 59 % 59 % 83 % Risk-free interest rate 0.81 % 1.22 % 1.22 % Expected life (years) 2 2 1 Dividend yield 0 % 0 % 0 % Common share price CDN $1.35 CDN $2.40 CDN $2.40 Strike price CDN $1.50 CDN $2.75 CDN $2.75 Forfeiture rate nil nil nil The Company recorded nil three September 30, 2018 ( three September 30, 2017 - $675,941 $7,288 nine September 30, 2018 ( nine September 30, 2017 - $161,590 $98,715 $34,608 three September 30, 2018. $1,537,024 $386,898 nine September 30, 2018. Volatility is determined based on volatilities of comparable companies when the Company does not The risk-free rate assumed in valuing the options is based on the Canadian treasury yield curve in effect at the time of grant for the expected term of the option. The expected dividend yield percentage at the date of grant is nil not nil three nine September 30, 2018 ( three September 30, 2017 - $nil |
Note 11 - Commitments and Conti
Note 11 - Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 11. Commitments and contingencies There were no September 30, 2018. |
Note 12 - Financial Instruments
Note 12 - Financial Instruments | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Financial Instruments Disclosure [Text Block] | 12. Financial instruments (a) Fair values The Company follows ASC topic 820, 820 820 three three three Level 1 Level 2 1 Level 3 The categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. (i) The Company calculates expected volatility based on historical volatility of the Company’s peer group that is publicly traded for options. An increase/decrease in the volatility would have resulted in an increase/decrease in the fair value of the options. The carrying values of cash, trade and other receivable, accounts payable and accrued liabilities and shareholder loans payable approximates their fair values because of the short-term nature of these instruments. (b) Interest rate and credit risk Interest rate risk is the risk that the value of a financial instrument might be adversely affected by a change in interest rates. The Company does not The Company is also exposed to credit risk at period end from the carrying value of its cash. The Company manages this risk by maintaining bank accounts with a Canadian Chartered Bank. The Company’s cash is not (c) Foreign exchange risk None The Company has balances in Canadian dollars that give rise to exposure to foreign exchange (“FX”) risk relating to the impact of translating certain non-U.S. dollar balance sheet accounts as these statements are presented in U.S. dollars. A strengthening U.S. dollar will lead to a FX loss while a weakening U.S. dollar will lead to a FX gain. For each Canadian dollar balance of $1.0 10% $0.1 (d) Liquidity risk Liquidity risk is the risk that the Company will encounter difficulty raising liquid funds to meet commitments as they fall due. In meeting its liquidity requirements, the Company closely monitors its forecasted cash requirements with expected cash drawdown. The following are the contractual maturities of the undiscounted cash flows of financial liabilities as at September 30, 2018 December 31, 2017: September 30, 2018 Less than 3 to 6 6 to 9 9 months Greater than 3 months months months 1 year 1 year Total $ $ $ $ $ $ Third parties Accounts payable and accrued liabilities 1,280,379 - - - - 1,280,379 1,280,379 - - - - 1,280,379 December 31, 2017 Less than 3 to 6 6 to 9 9 months Greater than 3 months months months 1 year 1 year Total $ $ $ $ $ $ Third parties Accounts payable and accrued liabilities 828,737 - - - - 828,737 828,737 - - - - 828,737 |
Note 13 - Segmented Information
Note 13 - Segmented Information | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 13. Segmented information The Company's operations comprise a single reportable segment engaged in the research, development targeting health and wellness solutions for the companion pet. As the operations comprise a single reportable segment, amounts disclosed in the financial statements for loss for the period, depreciation and total assets also represent segmented amounts. In addition, all of the Company's long-lived assets are in the United States of America (“US”). September 30, 2018 December 31, 2017 $ $ Total assets Canada 521,531 3,519,918 US 3,669,115 1,695,904 Total property and equipment US 756,823 371,157 |
Note 14 - Schedule of Expenses
Note 14 - Schedule of Expenses | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Operating Expenses [Text Block] | 14. Schedule of expenses For the three months ended September 30, 2018 For the three months ended September 30, 2017 Research and Development Professional Fees General and Administrative Research and Development Professional Fees General and Administrative Salaries, bonus and benefits $ 164,267 $ - $ 454,786 $ 118,227 $ - $ 1,136,402 Contracted expenditures 259,947 - - 156,980 - - Marketing and investor relations - - 53,996 - - 13,015 Travel and accommodation 8,023 - 36,491 6,425 - 49,532 Insurance 20,855 - 76,903 21,900 - 48,373 License fees - - - - - - Office 6,665 - 82,416 16,701 - 26,803 Consultants 80,425 293,484 - 58,536 246,192 - Regulatory 19,247 - 32,904 25,775 - 28,844 Rent 15,396 - 90,463 12,040 - 38,805 Supplies 55,546 - 6,611 48,911 - 8,951 Total $ 630,371 $ 293,484 $ 834,570 $ 465,495 $ 246,192 $ 1,350,726 For the nine months ended September 30, 2018 For the nine months ended September 30, 2017 Research and Development Professional Fees General and Administrative Research and Development Professional Fees General and Administrative Salaries, bonus and benefits $ 490,706 $ - $ 1,957,341 $ 478,231 $ - $ 2,107,835 Contracted expenditures 968,159 - - 516,275 - 5,610 Marketing and investor relations - - 177,151 - - 116,196 Travel and accommodation 13,360 - 228,359 9,383 - 228,317 Insurance 65,099 - 234,646 59,572 - 132,474 License fees 1,738,513 - - - - - Office 41,312 - 220,823 28,569 - 76,967 Consultants 169,613 1,001,886 - 226,985 942,385 - Regulatory 57,422 - 226,604 77,325 - 100,979 Rent 31,047 - 176,501 31,303 - 121,231 Supplies 190,101 - 21,807 158,536 - 36,750 Total $ 3,765,332 $ 1,001,886 $ 3,243,232 $ 1,586,179 $ 942,385 $ 2,926,361 |
Note 15 - Capital Risk Manageme
Note 15 - Capital Risk Management | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Capital Risk Management [Text Block] | 15. Capital risk management The capital of the Company includes equity, which is comprised of issued common capital stock, additional paid-in capital, and accumulated deficit. The Company's objective when managing its capital is to safeguard the ability to continue as a going concern in order to provide returns for its shareholders, and other stakeholders and to maintain a strong capital base to support the Company's core activities. |
Note 16 - Loss Per Share
Note 16 - Loss Per Share | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 16. Loss per share For the three months ended September 30, For the nine months ended September 30, 2018 2017 2018 2017 Numerator Net loss for the period $ 1,910,278 $ 2,080,682 $ 8,226,005 $ 5,501,788 Denominator Weighted average shares - basic 94,514,905 88,844,534 92,534,667 86,708,499 Stock options - - - - Denominator for diluted loss per share 94,514,905 88,844,534 92,534,667 86,708,499 Loss per share - basic and diluted $ (0.02 ) $ (0.02 ) $ (0.09 ) $ (0.06 ) For the above mentioned periods, the Company had securities outstanding which could potentially dilute basic earnings per share in the future, but were excluded from the computation of diluted loss per share in the periods presented, as their effect would have been anti-dilutive. |
Note 17 - Related Party Transac
Note 17 - Related Party Transactions and Key Management Compensation | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 17. Related party transactions and key management compensation Key management personnel are comprised of the Company’s directors and executive officers. In addition to their salaries, key management personnel also receive share-based compensation. Key management personnel compensation is as follows: For the three months ended September 30, For the nine months ended September 30, 2018 2017 2018 2017 Salaries and benefits, including bonuses $ 324,784 $ 329,314 $ 1,046,449 $ 954,311 Stock-based compensation - 598,595 - 749,615 Total $ 324,784 $ 927,909 $ 1,046,449 $ 1,703,926 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2018 | |
Accounting Policies [Abstract] | |
Use of Estimates, Policy [Policy Text Block] | Use of estimates The preparation of the condensed unaudited interim consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed unaudited interim consolidated financial statements and the reported amounts of revenue and expenses during the period. Actual results could differ from those estimates. Areas where significant judgment is involved in making estimates are: the fair values of financial assets and liabilities; the determination of fair value of stock-based compensation; the useful lives of property and equipment; and forecasting future cash flows for assessing the going concern assumption. |
Basis of Measurement [Policy Text Block] | Basis of measurement The condensed unaudited interim consolidated financial statements have been prepared on the historical cost basis except as otherwise noted. |
Functional and Reporting Currencies [Policy Text Block] | Functional and reporting currencies The Company’s and subsidiary’s functional currency, as determined by management, is US dollars, which is also the Company’s reporting currency. The accounting policies set out below have been applied consistently to all periods and companies presented in the condensed unaudited interim consolidated financial statements. |
Research and Development Expense, Policy [Policy Text Block] | Research and development Research and development costs related to continued research and development programs are expensed as incurred in accordance with ASC topic 730. |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Translation of foreign currencies In respect of other transactions denominated in currencies other than the Company and its wholly owned operating subsidiaries’ functional currencies, the monetary assets and liabilities are translated at the period end rates. Revenue and expenses are translated at rates of exchange prevailing on the transaction dates. All of the exchange gains or losses resulting from these other transactions are recognized in the condensed unaudited interim consolidated statements of operations and comprehensive loss. |
Compensation Related Costs, Policy [Policy Text Block] | Stock-based compensation The Company measures the cost of equity-settled transactions by reference to the fair value of the equity instruments at the date at which they are granted if the fair value of the goods or services received by the Company cannot be reliably estimated. The Company calculates stock-based compensation using the fair value method, under which the fair value of the options at the grant date is calculated using the Black-Scholes Option Pricing Model, and subsequently expensed over the vesting period of the option. The provisions of the Company's stock-based compensation plans do not The Company estimates forfeitures at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. |
Earnings Per Share, Policy [Policy Text Block] | Loss per share Basic loss per share (“EPS”) is computed by dividing the loss attributable to common shareholders by the weighted average number of common shares outstanding. Diluted EPS reflects the potential dilution that could occur from common shares issuable through the exercise or conversion of stock options, restricted stock awards, warrants and convertible securities. In certain circumstances, the conversion of options are excluded from diluted EPS if the effect of such inclusion would be anti-dilutive. The dilutive effect of stock options is determined using the treasury stock method. Stock options to purchase common shares of the Company during the period were not nine September 30, 2018 |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive loss The Company follows ASC topic 220. no |
New Accounting Pronouncements, Policy [Policy Text Block] | Future accounting pronouncements In February 2016, No. 2016 02, 842 842 December 15, 2018. |
Note 6 - Property and Equipme_2
Note 6 - Property and Equipment (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | Computer equipment Furniture and equipment Laboratory equipment Leasehold improvements Total Cost Balance at December 31, 2016 $ 61,598 $ 7,364 $ 243,529 $ 25,672 $ 338,163 Additions 89,557 68,694 2,200 11,285 171,736 Balance at December 31, 2017 151,155 76,058 245,729 36,957 509,899 Additions 11,701 105,821 246,375 250,471 614,368 Disposals - - (139,466 ) (10,937 ) (150,403 ) Balance at September 30, 2018 162,856 181,879 352,638 276,491 973,864 Accumulated depreciation Balance at December 31, 2016 13,858 1,490 29,783 3,998 49,129 Depreciation 28,944 10,355 45,092 5,222 89,613 Balance at December 31, 2017 42,802 11,845 74,875 9,220 138,742 Depreciation 66,405 11,130 42,082 30,703 150,320 Disposals - - (61,546 ) (10,475 ) (72,021 ) Balance at September 30, 2018 109,207 22,975 55,411 29,448 217,041 109,207 22,975 55,411 29,448 217,041 Net book value as at: December 31, 2017 $ 108,353 $ 64,213 $ 170,854 $ 27,737 $ 371,157 September 30, 2018 $ 53,649 $ 158,904 $ 297,227 $ 247,043 $ 756,823 |
Note 7 - Intangible Assets (Tab
Note 7 - Intangible Assets (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | Computer software Trademarks Total Cost Balance at December 31, 2016 $ 5,143 $ 16,236 $ 21,379 Additions - - - Balance at December 31, 2017 5,143 16,236 21,379 Additions - - - Balance at September 30, 2018 5,143 16,236 21,379 Accumulated amortization Balance at December 31, 2016 2,428 1,013 3,441 Amortization 1,715 1,082 2,797 Balance at December 31, 2017 4,143 2,095 6,238 Amortization 1,000 810 1,810 Balance at September 30, 2018 5,143 2,905 8,048 Net book value as at: December 31, 2017 $ 1,000 $ 14,141 $ 15,141 September 30, 2018 $ - $ 13,331 $ 13,331 |
Note 9 - Capital Stock (Tables)
Note 9 - Capital Stock (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Common Stock Outstanding Roll Forward [Table Text Block] | Capital Number stock Balance at December 31, 2016 83,964,569 $ 10,189,973 Stock issuance for services 43,613 45,000 Stock issued due to exercise of options 925,000 130,354 Stock issuance for financing, net of costs 4,405,373 6,516,650 Balance at September 30, 2017 89,338,555 $ 16,881,977 Balance at December 31, 2017 90,225,869 $ 18,244,659 Stock issuance for services (i) 641,717 1,238,513 Stock issued due to exercise of options (Note 10) 1,866,996 1,923,922 Stock issuance for financing, net of costs (ii) 1,861,627 3,966,362 Balance at September 30, 2018 94,596,209 $ 25,373,456 |
Note 10 - Stock-based Compens_2
Note 10 - Stock-based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Number of Options Weighted Avg Exercise Price (CDN$) Balance at December 31, 2016 7,975,000 0.84 Stock options exercised on February 21, 2017 (10,000 ) 0.25 Stock options exercised on February 21, 2017 (400,000 ) 0.05 Options issued on February 24, 2017 535,000 1.50 Stock options exercised on May 8, 2017 (7,060 ) 1.50 Stock options cancelled on May 17, 2017 (10,000 ) 1.50 Stock options exercised on May 23, 2017 (80,000 ) 0.25 Stock options exercised on July 6, 2017 (200,000 ) 0.05 Stock options exercised on July 17, 2017 (220,000 ) 0.25 Options issued on August 14, 2017 1,280,000 2.75 Stock options exercised on August 29, 2017 (7,940 ) 1.50 Stock options exercised on December 19, 2017 (25,000 ) 0.25 Stock options exercised on December 19, 2017 (750,000 ) 1.50 Balance at December 31, 2017 8,080,000 1.21 Stock options exercised on January 8, 2018 (124,000 ) 0.25 Stock options exercised on January 26, 2018 (100,000 ) 0.25 Stock options exercised on March 8, 2018 (50,000 ) 0.25 Stock options exercised on March 13, 2018 (176,000 ) 0.25 Stock options exercised on March 22, 2018 (50,000 ) 0.25 Stock options exercised on March 26, 2018 (240,000 ) 0.25 Stock options exercised on March 28, 2018 (325,000 ) 0.25 Stock options exercised on March 29, 2018 (562,996 ) 2.75 Stock options exercised on April 20, 2018 (154,000 ) 0.25 Stock options expired on April 21, 2018 (1,946,000 ) 0.25 Stock options cancelled on June 8, 2018 (100,000 ) 1.50 Stock options cancelled on June 21, 2018 (400,000 ) 1.50 Stock options cancelled on August 14, 2018 (75,000 ) 2.75 Stock options exercised on September 27, 2018 (85,000 ) 1.50 Stock options cancelled on September 28, 2018 (5,000 ) 2.75 Balance at September 30, 2018 3,687,004 1.72 |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding [Table Text Block] | Grant date Exercise price (CDN$) Number of options issued and outstanding Number of vested options outstanding Weighted avg remaining life (years) December 21, 2016 1.50 2,415,000 2,415,000 0.22 December 21, 2016 1.50 100,000 100,000 0.12 February 24, 2017 1.50 35,000 35,000 0.40 February 24, 2017 1.50 500,000 500,000 0.12 August 14, 2017 (a) 2.75 387,004 387,004 0.87 August 14, 2017 (a) 2.75 250,000 250,000 0.12 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | February 24, 2017 August 14, 2017 (a) August 14, 2017 (b) Volatility 59 % 59 % 83 % Risk-free interest rate 0.81 % 1.22 % 1.22 % Expected life (years) 2 2 1 Dividend yield 0 % 0 % 0 % Common share price CDN $1.35 CDN $2.40 CDN $2.40 Strike price CDN $1.50 CDN $2.75 CDN $2.75 Forfeiture rate nil nil nil |
Note 12 - Financial Instrumen_2
Note 12 - Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Contractual Maturities of Undiscounted Cash Flows of Financial Liabilities [Table Text Block] | September 30, 2018 Less than 3 to 6 6 to 9 9 months Greater than 3 months months months 1 year 1 year Total $ $ $ $ $ $ Third parties Accounts payable and accrued liabilities 1,280,379 - - - - 1,280,379 1,280,379 - - - - 1,280,379 December 31, 2017 Less than 3 to 6 6 to 9 9 months Greater than 3 months months months 1 year 1 year Total $ $ $ $ $ $ Third parties Accounts payable and accrued liabilities 828,737 - - - - 828,737 828,737 - - - - 828,737 |
Note 13 - Segmented Informati_2
Note 13 - Segmented Information (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Long-lived Assets by Geographic Areas [Table Text Block] | September 30, 2018 December 31, 2017 $ $ Total assets Canada 521,531 3,519,918 US 3,669,115 1,695,904 Total property and equipment US 756,823 371,157 |
Note 14 - Schedule of Expenses
Note 14 - Schedule of Expenses (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Operating Expenses [Table Text Block] | For the three months ended September 30, 2018 For the three months ended September 30, 2017 Research and Development Professional Fees General and Administrative Research and Development Professional Fees General and Administrative Salaries, bonus and benefits $ 164,267 $ - $ 454,786 $ 118,227 $ - $ 1,136,402 Contracted expenditures 259,947 - - 156,980 - - Marketing and investor relations - - 53,996 - - 13,015 Travel and accommodation 8,023 - 36,491 6,425 - 49,532 Insurance 20,855 - 76,903 21,900 - 48,373 License fees - - - - - - Office 6,665 - 82,416 16,701 - 26,803 Consultants 80,425 293,484 - 58,536 246,192 - Regulatory 19,247 - 32,904 25,775 - 28,844 Rent 15,396 - 90,463 12,040 - 38,805 Supplies 55,546 - 6,611 48,911 - 8,951 Total $ 630,371 $ 293,484 $ 834,570 $ 465,495 $ 246,192 $ 1,350,726 For the nine months ended September 30, 2018 For the nine months ended September 30, 2017 Research and Development Professional Fees General and Administrative Research and Development Professional Fees General and Administrative Salaries, bonus and benefits $ 490,706 $ - $ 1,957,341 $ 478,231 $ - $ 2,107,835 Contracted expenditures 968,159 - - 516,275 - 5,610 Marketing and investor relations - - 177,151 - - 116,196 Travel and accommodation 13,360 - 228,359 9,383 - 228,317 Insurance 65,099 - 234,646 59,572 - 132,474 License fees 1,738,513 - - - - - Office 41,312 - 220,823 28,569 - 76,967 Consultants 169,613 1,001,886 - 226,985 942,385 - Regulatory 57,422 - 226,604 77,325 - 100,979 Rent 31,047 - 176,501 31,303 - 121,231 Supplies 190,101 - 21,807 158,536 - 36,750 Total $ 3,765,332 $ 1,001,886 $ 3,243,232 $ 1,586,179 $ 942,385 $ 2,926,361 |
Note 16 - Loss Per Share (Table
Note 16 - Loss Per Share (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the three months ended September 30, For the nine months ended September 30, 2018 2017 2018 2017 Numerator Net loss for the period $ 1,910,278 $ 2,080,682 $ 8,226,005 $ 5,501,788 Denominator Weighted average shares - basic 94,514,905 88,844,534 92,534,667 86,708,499 Stock options - - - - Denominator for diluted loss per share 94,514,905 88,844,534 92,534,667 86,708,499 Loss per share - basic and diluted $ (0.02 ) $ (0.02 ) $ (0.09 ) $ (0.06 ) |
Note 17 - Related Party Trans_2
Note 17 - Related Party Transactions and Key Management Compensation (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Key Management Personnel Compensation [Table Text Block] | For the three months ended September 30, For the nine months ended September 30, 2018 2017 2018 2017 Salaries and benefits, including bonuses $ 324,784 $ 329,314 $ 1,046,449 $ 954,311 Stock-based compensation - 598,595 - 749,615 Total $ 324,784 $ 927,909 $ 1,046,449 $ 1,703,926 |
Note 3 - Significant Accounti_2
Note 3 - Significant Accounting Policies (Details Textual) $ in Thousands | 9 Months Ended |
Sep. 30, 2018USD ($) | |
Other Comprehensive Income (Loss), Net of Tax, Total | $ 0 |
Note 5 - Prepaid Expenses and_2
Note 5 - Prepaid Expenses and Deposits (Details Textual) - USD ($) | Jul. 31, 2018 | Aug. 26, 2016 | Sep. 30, 2018 | Dec. 31, 2017 |
Payments for Rent | $ 1,269,073 | $ 801,973 | ||
Prepaid Rent | $ 509,380 | $ 155,220 |
Note 6 - Property and Equipme_3
Note 6 - Property and Equipment (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | 9 Months Ended | |||
Aug. 31, 2018 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Property, Plant and Equipment, Net, Ending Balance | $ 756,823 | $ 756,823 | $ 371,157 | |||
Gain (Loss) on Disposition of Property Plant Equipment, Total | $ (69,382) | (69,382) | (69,382) | |||
Leasehold Improvements [Member] | ||||||
Property, Plant and Equipment, Net, Ending Balance | 462 | $ 247,043 | $ 247,043 | $ 27,737 | ||
Equipment [Member] | ||||||
Property, Plant and Equipment, Net, Ending Balance | 77,920 | |||||
Impaired Assets to be Disposed of by Method Other than Sale, Carrying Value of Asset | $ 9,000 |
Note 6 - Property and Equipme_4
Note 6 - Property and Equipment - Property and Equipment (Details) - USD ($) | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2018 | Dec. 31, 2017 | Aug. 31, 2018 | |
Cost, Beginning Balance | $ 509,899 | $ 338,163 | |
Cost, Additions | 614,368 | 171,736 | |
Cost, Disposals | (150,403) | ||
Cost, Ending Balance | 973,864 | 509,899 | |
Accumulated Depreciation, Beginning Balance | 138,742 | 49,129 | |
Accumulated Depreciation, Depreciation | 150,320 | 89,613 | |
Accumulated Depreciation, Disposals | (72,021) | ||
Accumulated Depreciation, Ending Balance | 217,041 | 138,742 | |
Property, Plant and Equipment, Net, Ending Balance | 756,823 | 371,157 | |
Computer Equipment [Member] | |||
Cost, Beginning Balance | 151,155 | 61,598 | |
Cost, Additions | 11,701 | 89,557 | |
Cost, Disposals | |||
Cost, Ending Balance | 162,856 | 151,155 | |
Accumulated Depreciation, Beginning Balance | 42,802 | 13,858 | |
Accumulated Depreciation, Depreciation | 66,405 | 28,944 | |
Accumulated Depreciation, Disposals | |||
Accumulated Depreciation, Ending Balance | 109,207 | 42,802 | |
Property, Plant and Equipment, Net, Ending Balance | 53,649 | 108,353 | |
Furniture and Fixtures [Member] | |||
Cost, Beginning Balance | 76,058 | 7,364 | |
Cost, Additions | 105,821 | 68,694 | |
Cost, Disposals | |||
Cost, Ending Balance | 181,879 | 76,058 | |
Accumulated Depreciation, Beginning Balance | 11,845 | 1,490 | |
Accumulated Depreciation, Depreciation | 11,130 | 10,355 | |
Accumulated Depreciation, Disposals | |||
Accumulated Depreciation, Ending Balance | 22,975 | 11,845 | |
Property, Plant and Equipment, Net, Ending Balance | 158,904 | 64,213 | |
Laboratory Equipment [Member] | |||
Cost, Beginning Balance | 245,729 | 243,529 | |
Cost, Additions | 246,375 | 2,200 | |
Cost, Disposals | (139,466) | ||
Cost, Ending Balance | 352,638 | 245,729 | |
Accumulated Depreciation, Beginning Balance | 74,875 | 29,783 | |
Accumulated Depreciation, Depreciation | 42,082 | 45,092 | |
Accumulated Depreciation, Disposals | (61,546) | ||
Accumulated Depreciation, Ending Balance | 55,411 | 74,875 | |
Property, Plant and Equipment, Net, Ending Balance | 297,227 | 170,854 | |
Leasehold Improvements [Member] | |||
Cost, Beginning Balance | 36,957 | 25,672 | |
Cost, Additions | 250,471 | 11,285 | |
Cost, Disposals | (10,937) | ||
Cost, Ending Balance | 276,491 | 36,957 | |
Accumulated Depreciation, Beginning Balance | 9,220 | 3,998 | |
Accumulated Depreciation, Depreciation | 30,703 | 5,222 | |
Accumulated Depreciation, Disposals | (10,475) | ||
Accumulated Depreciation, Ending Balance | 29,448 | 9,220 | |
Property, Plant and Equipment, Net, Ending Balance | $ 247,043 | $ 27,737 | $ 462 |
Note 7 - Intangible Assets - Fi
Note 7 - Intangible Assets - Finite-lived Intangible Assets (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Cost, Beginning Balance | $ 21,379 | $ 21,379 | $ 21,379 | ||
Cost, Additions | |||||
Cost, Ending Balance | $ 21,379 | 21,379 | 21,379 | ||
Accumulated Amortization, Beginning Balance | 6,238 | 3,441 | 3,441 | ||
Accumulated Amortization, Amortization | 431 | $ 699 | 1,810 | 2,098 | 2,797 |
Accumulated Amortization, Ending Balance | 8,048 | 8,048 | 6,238 | ||
Net Book Value | 13,331 | 13,331 | 15,141 | ||
Computer Software, Intangible Asset [Member] | |||||
Cost, Beginning Balance | 5,143 | 5,143 | 5,143 | ||
Cost, Additions | |||||
Cost, Ending Balance | 5,143 | 5,143 | 5,143 | ||
Accumulated Amortization, Beginning Balance | 4,143 | 2,428 | 2,428 | ||
Accumulated Amortization, Amortization | 1,000 | 1,715 | |||
Accumulated Amortization, Ending Balance | 5,143 | 5,143 | 4,143 | ||
Net Book Value | 1,000 | ||||
Trademarks [Member] | |||||
Cost, Beginning Balance | 16,236 | 16,236 | 16,236 | ||
Cost, Additions | |||||
Cost, Ending Balance | 16,236 | 16,236 | 16,236 | ||
Accumulated Amortization, Beginning Balance | 2,095 | $ 1,013 | 1,013 | ||
Accumulated Amortization, Amortization | 810 | 1,082 | |||
Accumulated Amortization, Ending Balance | 2,905 | 2,905 | 2,095 | ||
Net Book Value | $ 13,331 | $ 13,331 | $ 14,141 |
Note 8 - Loan Arrangements (Det
Note 8 - Loan Arrangements (Details Textual) - Loan Arrangement With Shareholder [Member] - USD ($) | Oct. 17, 2017 | Sep. 30, 2018 |
Debt Agreement, Maximum Borrowing Capacity | $ 5,000,000 | |
Debt Instrument, Term | 5 years | |
Debt Agreement, Minimum Borrowing Per Advances | $ 250,000 | |
Debt Instrument, Interest Rate, Stated Percentage | 14.00% | |
Long-term Debt, Total | $ 0 |
Note 9 - Capital Stock (Details
Note 9 - Capital Stock (Details Textual) - USD ($) | Jun. 28, 2018 | May 15, 2018 | May 10, 2018 | Jun. 28, 2018 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Stock Issued During Period, Value, Issued for Services | $ 1,238,513 | $ 45,000 | |||||||
Proceeds from Issuance of Common Stock | $ 3,452,496 | $ 550,000 | $ 3,320,000 | 4,002,496 | 6,570,000 | ||||
Payments of Stock Issuance Costs | $ 23,806 | $ 12,328 | $ 19,226 | $ 36,135 | $ 53,350 | ||||
Common Stock [Member] | |||||||||
Stock Issued During Period, Shares, Issued for Services | 641,717 | 641,717 | [1] | 43,613 | |||||
Stock Issued During Period, Value, Issued for Services | $ 1,238,513 | $ 1,238,513 | [1] | $ 45,000 | |||||
Stock Issued During Period, Shares, New Issues | 1,605,812 | 255,815 | 1,861,627 | [2] | 4,405,373 | ||||
[1] | On May 10, 2018, the Company issued 641,717 common shares in accordance with a development, commercialization and exclusive distribution agreement with Seraph Biosciences, Inc. and recognized $1,238,513 as a research and development expense in the condensed unaudited interim consolidated financial statements. | ||||||||
[2] | On May 15, 2018, the Company issued 255,815 common shares for gross proceeds of $550,000. On June 28, 2018, the Company issued 1,605,812 common shares for gross proceeds of $3,452,496. The Company recorded $23,806 of share issuance costs as an offset to capital stock. |
Note 9 - Capital Stock - Issued
Note 9 - Capital Stock - Issued and Outstanding Common Shares (Details) - USD ($) | Sep. 27, 2018 | Jun. 28, 2018 | May 15, 2018 | May 10, 2018 | Apr. 20, 2018 | Mar. 29, 2018 | Mar. 28, 2018 | Mar. 26, 2018 | Mar. 22, 2018 | Mar. 13, 2018 | Mar. 08, 2018 | Jan. 26, 2018 | Jan. 08, 2018 | Aug. 29, 2017 | Jul. 17, 2017 | Jul. 06, 2017 | May 23, 2017 | May 08, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Number of common shares, beginning balance (in shares) | 90,225,869 | ||||||||||||||||||||||
Stock issuance for services | $ 1,238,513 | $ 45,000 | |||||||||||||||||||||
Stock issued due to exercise of options (in shares) | 85,000 | 154,000 | 562,996 | 325,000 | 240,000 | 50,000 | 176,000 | 50,000 | 100,000 | 124,000 | 7,940 | 220,000 | 200,000 | 80,000 | 7,060 | 85,000 | 427,940 | 1,866,996 | 925,000 | ||||
Stock issued due to exercise of options | $ 1,537,024 | $ 100,198 | |||||||||||||||||||||
Stock issuance for financing, net of costs | $ 3,966,362 | $ 6,516,650 | |||||||||||||||||||||
Number of common shares, ending balance (in shares) | 94,596,209 | 94,596,209 | |||||||||||||||||||||
Common Stock [Member] | |||||||||||||||||||||||
Number of common shares, beginning balance (in shares) | 90,225,869 | 83,964,569 | |||||||||||||||||||||
Capital stock, beginning balance | $ 18,244,659 | $ 10,189,973 | |||||||||||||||||||||
Stock issuance for services (in shares) | 641,717 | 641,717 | [1] | 43,613 | |||||||||||||||||||
Stock issuance for services | $ 1,238,513 | $ 1,238,513 | [1] | $ 45,000 | |||||||||||||||||||
Stock issued due to exercise of options (in shares) | 1,866,996 | 925,000 | |||||||||||||||||||||
Stock issued due to exercise of options | $ 1,923,922 | $ 130,354 | |||||||||||||||||||||
Stock issuance for financing, net of costs (in shares) | 1,605,812 | 255,815 | 1,861,627 | [2] | 4,405,373 | ||||||||||||||||||
Stock issuance for financing, net of costs | $ 3,966,362 | [2] | $ 6,516,650 | ||||||||||||||||||||
Number of common shares, ending balance (in shares) | 94,596,209 | 89,338,555 | 94,596,209 | 89,338,555 | |||||||||||||||||||
Capital stock, ending balance | $ 25,373,456 | $ 16,881,977 | $ 25,373,456 | $ 16,881,977 | |||||||||||||||||||
[1] | On May 10, 2018, the Company issued 641,717 common shares in accordance with a development, commercialization and exclusive distribution agreement with Seraph Biosciences, Inc. and recognized $1,238,513 as a research and development expense in the condensed unaudited interim consolidated financial statements. | ||||||||||||||||||||||
[2] | On May 15, 2018, the Company issued 255,815 common shares for gross proceeds of $550,000. On June 28, 2018, the Company issued 1,605,812 common shares for gross proceeds of $3,452,496. The Company recorded $23,806 of share issuance costs as an offset to capital stock. |
Note 10 - Stock-based Compens_3
Note 10 - Stock-based Compensation (Details Textual) - USD ($) | Sep. 27, 2018 | Apr. 20, 2018 | Mar. 29, 2018 | Mar. 28, 2018 | Mar. 26, 2018 | Mar. 22, 2018 | Mar. 13, 2018 | Mar. 08, 2018 | Jan. 26, 2018 | Jan. 08, 2018 | Aug. 29, 2017 | Aug. 14, 2017 | Jul. 17, 2017 | Jul. 06, 2017 | May 23, 2017 | May 08, 2017 | Feb. 24, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 85,000 | 154,000 | 562,996 | 325,000 | 240,000 | 50,000 | 176,000 | 50,000 | 100,000 | 124,000 | 7,940 | 220,000 | 200,000 | 80,000 | 7,060 | 85,000 | 427,940 | 1,866,996 | 925,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 1,280,000 | 535,000 | 1,815,000 | ||||||||||||||||||
Allocated Share-based Compensation Expense, Total | $ 0 | $ 675,941 | $ 7,288 | $ 161,590 | |||||||||||||||||
Proceeds from Stock Options Exercised | $ 98,715 | $ 60,655 | 1,537,024 | 100,198 | |||||||||||||||||
Stock Issued During Period, Value, Stock Options Exercised | $ 1,537,024 | $ 100,198 | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | ||||||||||||||||||||
Employee Stock Option [Member] | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Payments | $ 0 | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Estimated Forfeiture Rate | 0.00% | 0.00% | 0.00% | 0.00% | |||||||||||||||||
Additional Paid-in Capital [Member] | |||||||||||||||||||||
Stock Issued During Period, Value, Stock Options Exercised | $ (34,608) | $ (386,898) | $ (30,156) |
Note 10 - Stock-based Compens_4
Note 10 - Stock-based Compensation - Issuance of Stock Options (Details) - $ / shares | Sep. 28, 2018 | Sep. 27, 2018 | Aug. 14, 2018 | Jun. 21, 2018 | Jun. 08, 2018 | Apr. 21, 2018 | Apr. 20, 2018 | Mar. 29, 2018 | Mar. 28, 2018 | Mar. 26, 2018 | Mar. 22, 2018 | Mar. 13, 2018 | Mar. 08, 2018 | Jan. 26, 2018 | Jan. 08, 2018 | Dec. 19, 2017 | Aug. 29, 2017 | Aug. 14, 2017 | Jul. 17, 2017 | Jul. 06, 2017 | May 23, 2017 | May 17, 2017 | May 08, 2017 | Feb. 24, 2017 | Feb. 21, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 |
Number of Options, Options Outstanding (in shares) | 3,687,004 | 3,687,004 | 8,080,000 | 7,975,000 | |||||||||||||||||||||||||||
Weighted Avg Exercise Price, Options Outstanding (in CAD per share) | $ 1.72 | $ 1.72 | $ 1.21 | $ 0.84 | |||||||||||||||||||||||||||
Number of Options, Options Exercised (in shares) | (85,000) | (154,000) | (562,996) | (325,000) | (240,000) | (50,000) | (176,000) | (50,000) | (100,000) | (124,000) | (7,940) | (220,000) | (200,000) | (80,000) | (7,060) | (85,000) | (427,940) | (1,866,996) | (925,000) | ||||||||||||
Weighted Avg Exercise Price, Options Exercised (in CAD per share) | $ 2.75 | $ 1.50 | $ 2.75 | $ 1.50 | $ 1.50 | $ 0.25 | $ 0.25 | $ 2.75 | $ 0.25 | $ 0.25 | $ 0.25 | $ 0.25 | $ 0.25 | $ 0.25 | $ 0.25 | $ 1.50 | $ 0.25 | $ 0.05 | $ 0.25 | $ 1.50 | |||||||||||
Number of Options, Options Issued (in shares) | 1,280,000 | 535,000 | 1,815,000 | ||||||||||||||||||||||||||||
Weighted Avg Exercise Price, Options Issued (in CAD per share) | $ 2.75 | $ 1.50 | |||||||||||||||||||||||||||||
Number of Options, Options Canceled (in shares) | (10,000) | ||||||||||||||||||||||||||||||
Weighted Avg Exercise Price, Options Cancelled (in CAD per share) | $ 1.50 | ||||||||||||||||||||||||||||||
Stock options expired on April 21, 2018 (in shares) | (1,946,000) | ||||||||||||||||||||||||||||||
Stock options cancelled on June 8, 2018 (in shares) | (5,000) | (75,000) | (400,000) | (100,000) | |||||||||||||||||||||||||||
Options 1 [Member] | |||||||||||||||||||||||||||||||
Number of Options, Options Exercised (in shares) | (25,000) | (10,000) | |||||||||||||||||||||||||||||
Weighted Avg Exercise Price, Options Exercised (in CAD per share) | $ 0.25 | $ 0.25 | |||||||||||||||||||||||||||||
Options 2 [Member] | |||||||||||||||||||||||||||||||
Number of Options, Options Exercised (in shares) | (750,000) | (400,000) | |||||||||||||||||||||||||||||
Weighted Avg Exercise Price, Options Exercised (in CAD per share) | $ 1.50 | $ 0.05 |
Note 10 - Stock-based Compens_5
Note 10 - Stock-based Compensation - Details of the Issued Stock Options (Details) - $ / shares | Aug. 14, 2017 | Feb. 24, 2017 | Sep. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Weighted Avg Exercise Price, Options Issued (in CAD per share) | $ 2.75 | $ 1.50 | |||
Number of Options, Options Outstanding (in shares) | 3,687,004 | 8,080,000 | 7,975,000 | ||
December 21, 2016 [Member] | Options 1 [Member] | |||||
Weighted Avg Exercise Price, Options Issued (in CAD per share) | $ 1.50 | ||||
Number of Options, Options Outstanding (in shares) | 2,415,000 | ||||
Number of Vested Options (in shares) | 2,415,000 | ||||
Weighted Avg Remaining Life (Year) | 80 days | ||||
December 21, 2016 [Member] | Options 2 [Member] | |||||
Weighted Avg Exercise Price, Options Issued (in CAD per share) | $ 1.50 | ||||
Number of Options, Options Outstanding (in shares) | 100,000 | ||||
Number of Vested Options (in shares) | 100,000 | ||||
Weighted Avg Remaining Life (Year) | 43 days | ||||
February 24, 2017 [Member] | Options 1 [Member] | |||||
Weighted Avg Exercise Price, Options Issued (in CAD per share) | $ 1.50 | ||||
Number of Options, Options Outstanding (in shares) | 35,000 | ||||
Number of Vested Options (in shares) | 35,000 | ||||
Weighted Avg Remaining Life (Year) | 146 days | ||||
February 24, 2017 [Member] | Options 2 [Member] | |||||
Weighted Avg Exercise Price, Options Issued (in CAD per share) | $ 1.50 | ||||
Number of Options, Options Outstanding (in shares) | 500,000 | ||||
Number of Vested Options (in shares) | 500,000 | ||||
Weighted Avg Remaining Life (Year) | 43 days | ||||
August 14, 2017 [Member] | Options 1 [Member] | |||||
Weighted Avg Exercise Price, Options Issued (in CAD per share) | $ 2.75 | ||||
Number of Options, Options Outstanding (in shares) | 387,004 | ||||
Number of Vested Options (in shares) | 387,004 | ||||
Weighted Avg Remaining Life (Year) | 317 days | ||||
August 14, 2017 [Member] | Options 2 [Member] | |||||
Weighted Avg Exercise Price, Options Issued (in CAD per share) | $ 2.75 | ||||
Number of Options, Options Outstanding (in shares) | 250,000 | ||||
Number of Vested Options (in shares) | 250,000 | ||||
Weighted Avg Remaining Life (Year) | 43 days |
Note 10 - Stock-based Compens_6
Note 10 - Stock-based Compensation - Valuation Assumptions for Fair Value of Options Granted (Details) - $ / shares | Aug. 14, 2017 | Feb. 24, 2017 |
Volatility | 59.00% | |
Risk-free interest rate | 0.81% | |
Expected life (Year) | 2 years | |
Dividend yield | 0.00% | |
Common share price (in CAD per share) | $ 1.35 | |
Strike price (in CAD per share) | $ 1.50 | |
Forfeiture rate | ||
Options 1 [Member] | ||
Volatility | 59.00% | |
Risk-free interest rate | 1.22% | |
Expected life (Year) | 2 years | |
Dividend yield | 0.00% | |
Common share price (in CAD per share) | $ 2.40 | |
Strike price (in CAD per share) | $ 2.75 | |
Options 2 [Member] | ||
Volatility | 83.00% | |
Risk-free interest rate | 1.22% | |
Expected life (Year) | 1 year | |
Dividend yield | 0.00% | |
Common share price (in CAD per share) | $ 2.40 | |
Strike price (in CAD per share) | $ 2.75 |
Note 11 - Commitments and Con_2
Note 11 - Commitments and Contingencies (Details Textual) $ in Thousands | Sep. 30, 2018USD ($) |
Operating Leases, Future Minimum Payments Due, Total | $ 0 |
Note 12 - Financial Instrumen_3
Note 12 - Financial Instruments - Contractual Maturities of Undiscounted Cash Flows of Financial Liabilities (Details) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Accounts Payable and Accrued Liabilities, Maturity Less Than 3 Months | $ 1,280,379 | $ 828,737 |
Accounts payable and accrued liabilities, Maturity 3 to 6 Months | ||
Accounts payable and accrued liabilities, Maturity 6 to 9 Months | ||
Accounts payable and accrued liabilities, Maturity 9 to 12 Months | ||
Accounts payable and accrued liabilities, Maturity Greater Than 1 Year | ||
Accounts payable and accrued liabilities | 1,280,379 | 828,737 |
Contractual Financial Liabilities, Maturity Less Than 3 Months | 1,280,379 | 828,737 |
Contractual Financial Liabilities, Maturity 3 to 6 Months | ||
Contractual Financial Liabilities, Maturity 6 to 9 Months | ||
Contractual Financial Liabilities, Maturity 9 to 12 Months | ||
Contractual Financial Liabilities, Maturity Greater Than 1 Year | ||
Contractual Financial Liabilities | $ 1,280,379 | $ 828,737 |
Note 13 - Segmented Informati_3
Note 13 - Segmented Information - Long-lived Assets by Geographic Areas (Details) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Assets | $ 4,190,646 | $ 5,215,822 |
Property and equipment | 756,823 | 371,157 |
CANADA | ||
Assets | 521,531 | 3,519,918 |
UNITED STATES | ||
Assets | 3,669,115 | 1,695,904 |
Property and equipment | $ 756,823 | $ 371,157 |
Note 14 - Schedule of Expense_2
Note 14 - Schedule of Expenses - Schedule of Expenses (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Research and development | $ 630,371 | $ 465,495 | $ 3,765,332 | $ 1,586,179 |
Professional fees | 293,484 | 246,192 | 1,001,886 | 942,385 |
General and administrative | 834,570 | 1,350,726 | 3,243,232 | 2,926,361 |
Salaries, Bonus and Benefits [Member] | ||||
Research and development | 164,267 | 118,227 | 490,706 | 478,231 |
Professional fees | ||||
General and administrative | 454,786 | 1,136,402 | 1,957,341 | 2,107,835 |
Contracted Expenditures [Member] | ||||
Research and development | 259,947 | 156,980 | 968,159 | 516,275 |
Professional fees | ||||
General and administrative | 5,610 | |||
Marketing and Investor Relations [Member] | ||||
Research and development | ||||
Professional fees | ||||
General and administrative | 53,996 | 13,015 | 177,151 | 116,196 |
Travel and Accommodation [Member] | ||||
Research and development | 8,023 | 6,425 | 13,360 | 9,383 |
Professional fees | ||||
General and administrative | 36,491 | 49,532 | 228,359 | 228,317 |
Insurance [Member] | ||||
Research and development | 20,855 | 21,900 | 65,099 | 59,572 |
Professional fees | ||||
General and administrative | 76,903 | 48,373 | 234,646 | 132,474 |
License Fees [Member] | ||||
Research and development | 1,738,513 | |||
Professional fees | ||||
General and administrative | ||||
Office [Member] | ||||
Research and development | 6,665 | 16,701 | 41,312 | 28,569 |
Professional fees | ||||
General and administrative | 82,416 | 26,803 | 220,823 | 76,967 |
Consultant [Member] | ||||
Research and development | 80,425 | 58,536 | 169,613 | 226,985 |
Professional fees | 293,484 | 246,192 | 1,001,886 | 942,385 |
General and administrative | ||||
Regulatory [Member] | ||||
Research and development | 19,247 | 25,775 | 57,422 | 77,325 |
Professional fees | ||||
General and administrative | 32,904 | 28,844 | 226,604 | 100,979 |
Rent [Member] | ||||
Research and development | 15,396 | 12,040 | 31,047 | 31,303 |
Professional fees | ||||
General and administrative | 90,463 | 38,805 | 176,501 | 121,231 |
Supplies [Member] | ||||
Research and development | 55,546 | 48,911 | 190,101 | 158,536 |
Professional fees | ||||
General and administrative | $ 6,611 | $ 8,951 | $ 21,807 | $ 36,750 |
Note 16 - Loss Per Share - Loss
Note 16 - Loss Per Share - Loss Per Share (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Net loss for the period | $ 1,910,278 | $ 2,080,682 | $ 8,226,005 | $ 5,501,788 |
Weighted average shares - basic (in shares) | 94,514,905 | 88,844,534 | 92,534,667 | 86,708,499 |
Stock options (in shares) | ||||
Denominator for diluted loss per share (in shares) | 94,514,905 | 88,844,534 | 92,534,667 | 86,708,499 |
Loss per share - basic and diluted (in dollars per share) | $ (0.02) | $ (0.02) | $ (0.09) | $ (0.06) |
Note 17 - Related Party Trans_3
Note 17 - Related Party Transactions and Key Management Compensation - Key Management Personnel Compensation (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Stock-based compensation | $ 0 | $ 675,941 | $ 7,288 | $ 161,590 |
Director and Executive Officers [Member] | ||||
Salaries and benefits, including bonuses | 324,784 | 329,314 | 1,046,449 | 954,311 |
Stock-based compensation | 598,595 | 749,615 | ||
Total | $ 324,784 | $ 927,909 | $ 1,046,449 | $ 1,703,926 |