Document and Entity Information
Document and Entity Information | 3 Months Ended |
Mar. 31, 2020 | |
Cover [Abstract] | |
Document Type | F-1/A |
Entity Registrant Name | TITAN MEDICAL INC |
Entity Central Index Key | 0000840551 |
Amendment Flag | true |
Amendment description | This Registration Statement contains two prospectuses, as set forth below. ● Resale Prospectus. A prospectus to be used for the resale by selling securityholders of up to 3,143,267 Common Shares of the Registrant issuable upon exercise of outstanding Common Share purchase warrants held by the selling securityholders (the “Resale Prospectus”). ● Primary Offering Prospectus. A prospectus to be used for the offering by the Registrant of up to 15,116,950 Common Shares of the Registrant issuable upon the exercise of outstanding Common Share purchase warrants (the “Primary Offering Prospectus”). The Primary Offering Prospectus is substantively identical to the Resale Prospectus, except for the following principal points: ● they contain different outside and inside front covers; ● they contain different Offering sections in the Prospectus Summary section beginning on page 15; ● a Selling Securityholders section is included in the Resale Prospectus beginning on page 78; ● they contain different Use of Proceeds sections on page 77; ● they contain different Plan of Distribution sections on page 80; ● they contain different Description of the Securities sections on page 82; ● they contain different Dilution sections on page 83; and ● the references to “Common Shares” in the Certain Canadian Federal Income Tax Considerations section of the Primary Offering Prospectus includes the Warrant Shares. The Registrant has included in this Registration Statement, after the financial statements, a set of alternate pages to reflect the foregoing differences of the Resale Prospectus as compared to the Primary Offering Prospectus. |
Entity Emerging Growth Company | true |
Entity Ex Transition Period | false |
Balance Sheets
Balance Sheets - USD ($) | Mar. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Current Assets: | |||
Cash and cash equivalents | $ 1,760,219 | $ 814,492 | $ 11,471,243 |
Amounts receivable | 99,400 | 84,097 | 143,225 |
Deposits | 481,400 | 481,400 | 8,541,630 |
Prepaid expense | 180,730 | 369,453 | 586,581 |
Total Current Assets | 2,521,749 | 1,749,442 | 20,742,679 |
Right of use assets - Leases | 24,709 | 30,394 | |
Patent Rights | 1,649,465 | 1,601,745 | 1,172,485 |
Total Assets | 4,195,923 | 3,381,581 | 21,915,164 |
Current Liabilities: | |||
Accounts payable and accrued liabilities | 10,184,977 | 11,412,896 | 6,447,888 |
Current portion of lease liability | 25,126 | 21,071 | |
Warrant liability | 2,373,057 | 3,621,444 | 11,250,167 |
Total Current Liabilities | 12,583,160 | 15,055,411 | 17,698,055 |
Long-term lease liability | 8,001 | ||
Total Liabilities | 12,583,160 | 15,063,412 | 17,698,055 |
Shareholders' Equity / (Deficiency) | |||
Share Capital | 198,693,476 | 194,859,415 | 170,502,394 |
Contributed Surplus | 8,532,103 | 8,303,527 | 6,652,409 |
Deficit | (215,612,816) | (214,844,773) | (172,937,694) |
Total Equity / (Deficiency) | (8,387,237) | (11,681,831) | 4,217,109 |
Total Liabilities and Equity / (Deficiency) | $ 4,195,923 | $ 3,381,581 | $ 21,915,164 |
Statements of Net and Comprehen
Statements of Net and Comprehensive Loss - USD ($) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | |
Profit or loss [abstract] | ||||
Revenue: | $ 0 | |||
Expenses: | ||||
Amortization | $ 14,095 | $ 6,175 | 32,555 | $ 29,041 |
Consulting fees | 112,125 | 269,429 | 1,136,146 | 785,128 |
Stock based compensation | 228,576 | 251,357 | 1,651,119 | 1,505,625 |
Insurance | 123,162 | 118,489 | 480,362 | 252,514 |
Management salaries and fees | 541,595 | 648,586 | 2,547,484 | 2,683,187 |
Marketing and investor relations | 8,644 | 106,189 | 289,350 | 231,032 |
Office and general | 139,887 | 117,271 | 436,051 | 412,039 |
Professional fees | 358,486 | 103,385 | 943,535 | 485,639 |
Rent | 7,241 | 12,236 | 58,064 | 97,782 |
Research and Development | 46,119 | 14,408,612 | 51,418,056 | 32,858,339 |
Travel | 11,138 | 67,364 | 272,594 | 350,016 |
Interest charges | 212,697 | 422,989 | ||
Foreign exchange (gain)/loss | (73,503) | (107,642) | 37,972 | (979,894) |
Total expenses | 1,730,262 | 16,001,451 | 59,726,277 | 38,710,448 |
Finance Income (cost): | ||||
Interest | 1,743 | 23,031 | 115,584 | 288,300 |
Gain on change in fair value of warrants | 1,117,476 | (10,476,625) | 19,800,645 | 17,095,220 |
Warrant liability issue cost | (157,000) | (1,827,835) | (2,097,031) | (1,312,344) |
Finance Income (cost) | 962,219 | (12,281,429) | 17,819,198 | 16,071,176 |
Net and Comprehensive Loss For The Year | $ 768,043 | $ 28,282,880 | $ 41,907,079 | $ 22,639,272 |
Basic and Diluted Loss Per Share | $ (0.02) | $ (1.22) | $ (1.37) | $ (1.36) |
Basic and Diluted | 44,272,288 | 23,185,888 | 30,689,545 | 16,635,092 |
Statement of Shareholders' Equi
Statement of Shareholders' Equity and Deficit - USD ($) | Issued capital [member] | Share premium [member] | Share Warrants [member] | Retained earnings [member] | Total |
Beginning balance at Dec. 31, 2017 | $ 154,016,519 | $ 5,146,784 | $ 741,917 | $ (150,298,422) | $ 9,606,798 |
Beginning balance, share at Dec. 31, 2017 | 12,686,723 | ||||
Statement Line Items [Line Items] | |||||
Issued pursuant to agency or common share purchase agreement | $ 16,915,394 | 16,915,394 | |||
Issued pursuant to agency or common share purchase agreement, shares | 8,975,126 | ||||
Share issue expense | $ (1,297,668) | (1,297,668) | |||
Issued other | $ 66,234 | 66,234 | |||
Issued other, shares | 7,500 | ||||
Warrants exercised during the year | $ 59,998 | 59,998 | |||
Warrants exercised during the year, shares | 6,500 | ||||
Warrants expired during the year | $ 741,917 | $ (741,917) | |||
Stock based compensation | 1,505,625 | 1,505,625 | |||
Net and Comprehensive loss | (22,639,272) | (22,639,272) | |||
Ending balance at Dec. 31, 2018 | $ 170,502,394 | 6,652,409 | (172,937,694) | $ 4,217,109 | |
Ending balance, shares at Dec. 31, 2018 | 21,675,849 | 21,675,849 | |||
Statement Line Items [Line Items] | |||||
Issued pursuant to agency or common share purchase agreement | $ 13,717,131 | $ 13,717,131 | |||
Issued pursuant to agency or common share purchase agreement, shares | 8,455,882 | ||||
Share issue expense | $ (1,495,501) | (1,495,501) | |||
Warrants exercised during the year | $ 7,002,043 | 7,002,043 | |||
Warrants exercised during the year, shares | 1,018,506 | ||||
Stock based compensation | 251,357 | 251,357 | |||
Net and Comprehensive loss | (28,282,880) | (28,282,880) | |||
Ending balance at Mar. 31, 2019 | $ 189,726,067 | 6,903,766 | (201,220,574) | (4,590,741) | |
Ending balance, shares at Mar. 31, 2019 | 31,150,237 | ||||
Beginning balance at Dec. 31, 2018 | $ 170,502,394 | 6,652,409 | (172,937,694) | $ 4,217,109 | |
Beginning balance, share at Dec. 31, 2018 | 21,675,849 | 21,675,849 | |||
Statement Line Items [Line Items] | |||||
Issued pursuant to agency or common share purchase agreement | $ 13,717,131 | $ 13,717,131 | |||
Issued pursuant to agency or common share purchase agreement, shares | 8,455,882 | ||||
Issued private placement | $ 5,727,971 | 5,727,971 | |||
Issued private placement, shares | 8,757,444 | ||||
Share issue expense | $ (2,090,124) | (2,090,124) | |||
Warrants exercised during the year | $ 7,002,043 | 7,002,043 | |||
Warrants exercised during the year, shares | 1,018,506 | ||||
Stock based compensation | 1,651,118 | 1,651,118 | |||
Net and Comprehensive loss | (41,907,079) | (41,907,079) | |||
Ending balance at Dec. 31, 2019 | $ 194,859,415 | 8,303,527 | (214,844,773) | $ (11,681,831) | |
Ending balance, shares at Dec. 31, 2019 | 39,907,681 | 39,907,681 | |||
Statement Line Items [Line Items] | |||||
Issued pursuant to agency or common share purchase agreement | $ 3,037,204 | $ 3,037,204 | |||
Issued pursuant to agency or common share purchase agreement, shares | 11,909,196 | ||||
Share issue expense | $ (214,263) | (214,263) | |||
Warrants exercised during the year | $ 1,011,120 | 1,011,120 | |||
Warrants exercised during the year, shares | 2,400,000 | ||||
Stock based compensation | 228,576 | 228,576 | |||
Net and Comprehensive loss | (768,043) | (768,043) | |||
Ending balance at Mar. 31, 2020 | $ 198,693,476 | $ 8,532,103 | $ (215,612,816) | $ (8,387,237) | |
Ending balance, shares at Mar. 31, 2020 | 54,216,877 | 54,216,877 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | |
Operating activities: | ||||
Net loss for the year | $ (768,043) | $ (28,282,880) | $ (41,907,079) | $ (22,639,272) |
Items not involving cash: | ||||
Amortization | 14,095 | 6,175 | 32,555 | 29,041 |
Stock based compensation | 228,576 | 251,357 | 1,651,119 | 1,505,625 |
Other share compensation | 66,234 | |||
Warrant liability-fair value adjustment | (1,117,476) | 10,476,625 | (19,800,645) | (17,095,220) |
Warrant liability-foreign exchange adjustment | (51,091) | (106,057) | 17,687 | (984,462) |
Non-cash issuance costs | 26,240 | 744,501 | ||
Non-cash settlement included in payables | 250,574 | |||
Changes in non-cash working capital items: | ||||
Amounts receivable, prepaid expenses and deposits | 173,420 | (1,577,929) | 8,336,486 | (6,508,259) |
Accounts payable and accrued liabilities | (1,227,919) | 47,756 | 4,965,008 | 4,229,536 |
Cash used in operating activities | (2,471,624) | (19,184,953) | (45,960,368) | (41,396,777) |
Financing activities: | ||||
Net proceeds from issuance of common shares and warrants | 3,477,427 | 31,377,908 | 35,766,754 | 27,158,114 |
Repayment of lease liabilities | (3,946) | (5,100) | ||
Cash provided by financing activities | 3,473,481 | 31,377,908 | 35,761,654 | 27,158,114 |
Investing Activities: | ||||
Cost of Patents | (56,130) | (53,758) | (458,037) | (420,587) |
Cash used in investing activities | (56,130) | (53,758) | (458,037) | (420,587) |
Decrease in cash and cash equivalents | 945,727 | 12,139,197 | (10,656,751) | (14,659,250) |
Cash and cash equivalents, beginning of the year | 814,492 | 11,471,243 | 11,471,243 | 26,130,493 |
Cash and cash equivalents, end of the year | 1,760,219 | 23,610,440 | 814,492 | 11,471,243 |
Cash and cash equivalents comprise: | ||||
Cash | 1,495,982 | 582,622 | 141,768 | 100,130 |
Cash equivalents | 264,237 | 23,027,818 | 672,724 | 11,371,113 |
Cash and cash equivalents, end of the year | $ 1,760,219 | $ 23,610,440 | $ 814,492 | $ 11,471,243 |
Description of Business
Description of Business | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Description Of Business [Abstract] | ||
Description of Business | 1. DESCRIPTION OF BUSINESS Nature of Operations: Titan Medical Inc.’s (“Titan” or the “Company”), business continues to be in the research and development stage and is focused on the continued research and development. In the near term, the Company will continue efforts to complete product development and proceed to pre-clinical and confirmatory human studies and satisfaction of appropriate regulatory requirements. Upon receipt of regulatory approvals, the Company will transition from the research and development stage to the commercialization stage. The completion of these latter stages will be subject to the Company receiving additional funding. The Company is incorporated in Ontario, Canada in accordance with the Business Corporations Act. The address of the Company’s corporate office and its principal place of business is Toronto, Canada. Basis of Preparation (a) Statement of Compliance These condensed interim financial statements are prepared in accordance with International Accounts Standards (“IAS”) 34, Interim Financial Reporting, as issued by the International Accounting Standards Board (“IASB”) on a basis consistent with the Company’s 2019 annual financial statements. These condensed interim financial statements were authorized for issue by the Board of Directors on May 13, 2020. (b) Basis of Measurement These condensed interim financial statements have been prepared on the historical cost basis except for the revaluation of the warrant liability, which is measured at fair value. (c) Functional and Presentation Currency These condensed interim financial statements are presented in United States dollars (“U.S.”), which is the Company’s functional and presentation currency. (d) Going Concern These condensed interim financial statements have been prepared in accordance with accounting principles applicable to a going concern, which contemplates that the Company will be able to realize its assets and settle its liabilities in the normal course as they come due during the normal course of operations for the foreseeable future. The Company has shareholders’ deficiency of $8,387,237 and losses in the current quarter of $768,043 Working capital deficiency at March 31, 2020 is $7,688,354. The Company currently does not generate any revenue and accordingly it is primarily dependent upon equity financing for any additional funding required for development and operating expenses. These conditions indicate the existence of a material uncertainty that may cast significant doubt on the ability of the Company to continue as a going concern if additional funding is not secured. (e) Use of Estimates and Judgements The preparation of financial statements in conformity with IFRS requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of provisions at the date of the financial statements and the reported amount of expenses during the year. Financial statement items subject to significant judgement include the measurement of stock-based compensation and the fair value estimate of the initial measurement of new warrant liabilities and the remeasurement of unlisted warrants. While management believes that the estimates and assumptions are reasonable, actual results may differ. The Black-Scholes model used by the Company to determine fair values of stock options and warrants was developed for use in estimating the fair value of the stock options and warrants. | 1. DESCRIPTION OF BUSINESS Nature of Operations: Titan Medical Inc.’s (“Titan” or the “Company”), business continues to be in the research and development stage and is focused on the continued research and development of the next generation surgical robotic platform. In the near term, the Company will continue efforts to complete product development and proceed to pre-clinical and confirmatory human studies and satisfaction of appropriate regulatory requirements. Upon receipt of regulatory approvals, the Company will transition from the research and development stage to the commercialization stage. The completion of these latter stages will be subject to the Company receiving additional funding in the future. The Company is incorporated in Ontario, Canada in accordance with the Business Corporations Act. The address of the Company’s corporate office and its principal place of business is Toronto, Canada. Basis of Preparation: (a) Statement of Compliance These financial statements for the year ended December 31, 2019 and December 31, 2018 have been prepared in accordance with International Accounting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). The financial statements were authorized for issue by the Board of Directors on March 30 (b) Basis of Measurement These financial statements have been prepared on the historical cost basis except for the revaluation of the warrant liability, which is measured at fair value. (c) Functional and Presentation Currency These financial statements are presented in United States dollars (“U.S.”), which is the Company’s functional and presentation currency. (d) Going Concern These financial statements have been prepared in accordance with accounting principles applicable to a going concern, which contemplates that the Company will be able to realize its assets and settle its liabilities in the normal course as they come due during the normal course of operations for the foreseeable future. The Company has shareholders’ deficiency of $11,681,831 and current year (e) Use of Estimates and Judgements The preparation of financial statements in conformity with IFRS requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of provisions at the date of the financial statements and the reported amount of expenses during the year. Financial statement items subject to significant judgement include, the measurement of stock-based compensation and the fair value estimate of the initial measurement of new warrant liabilities and the remeasurement of unlisted warrants. While management believes that the estimates and assumptions are reasonable, actual results may differ. The Black-Scholes model used by the Company to determine fair values of stock options and warrants was developed for use in estimating the fair value of the stock options and warrants. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Summary Of Significant Accounting Policies [Abstract] | ||
Summary of Significant Accounting Policies | 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (a) Warrant Liability Certain of the Company’s warrants have exercise prices that are not fixed and as such in accordance with IAS 32, they must be recorded as a derivative financial liability. This applies both in the case where the Company’s warrants are denominated in a currency (Canadian dollars) other than the Company’s functional currency (U.S. dollars), and when a warrant is issued with a cashless exercise option. In each case, these warrants are initially measured at fair value and subsequent changes in fair value are recorded through Net and Comprehensive Loss for the year. A proportional amount of costs associated with the issue of shares and warrants is allocated to the warrants and recorded through Net and Comprehensive Loss for the year. At each balance sheet date, the Company reviews the classification of each Warrant Liability to determine whether the appropriate classification remains with Liabilities or requires reclassification to Equity. At each balance sheet date, the Warrant Liability of listed warrants is adjusted to fair value measured at the market price of the listed warrants and the Warrant Liability of unlisted warrants is adjusted to fair value using the Black-Scholes model. Prior to March 31, 2019, the Black-Sholes model for the unlisted warrants was determined using a comparable warrant quoted in an active market, adjusted for differences in the terms of the warrant. Since March 31, 2019, it was determined that the comparable warrant was no longer an effective benchmark and the Company began to use the market price and volatility of the Company’s common shares adjusted for differences in the terms of the warrant. (b) Fair Value Measurement The accounting guidance for fair value measurements prioritizes the inputs used in measuring fair value into the following hierarchy: Level 1 Quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 – Inputs other than quoted prices included within Level 1 that are directly or indirectly observable; Level 3 – Unobservable inputs in which little or no market activity exists, therefore requiring an entity to develop its own assumptions about the assumptions that market participants would use in pricing. The fair value of the warrant liability relating to listed and unlisted warrants is initially based on Level 2 significant observable inputs and at subsequent dates is adjusted using Level 1 inputs for listed warrants and Level 2 inputs for unlisted warrants. | 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (a) Cash and Cash Equivalents Cash and cash equivalents include cash balances and amounts on deposit in interest saving accounts with interest rates of less than 1%. (b) Furniture and Equipment Furniture and equipment are recorded at cost less accumulated amortization and accumulated impairment losses, if any. The Company records amortization using the straight-line method over the estimated useful lives of the capital assets as follow: a) Computer Equipment 3 years b) Furniture and Fixtures 3 - 5 years c) Leasehold Improvements Term of the lease ( c Right-of-use In the current year, the Company has applied IFRS 16 Leases (as issued by the IASB effective January 1, 2019). IFRS 16 introduces new or amended requirements with respect to lease accounting. It introduces significant changes to lessee accounting by removing the distinction between operating and finance leases and requiring the recognition of a right-of-use The Company assesses whether a contract is or contains a lease, at inception of a contract. The Company recognizes a right-of-use The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted by using the rate implicit in the lease. If this rate cannot be readily determined, the Company uses a reasonable commercial borrowing rate. For the year ended December 31, 2019, the Company used a 6% discount rate. As at January 1, 2019, the date of initial application of IFRS 16, the Company had no leases with terms greater than 12 months. As such, the Company’s initial application of IFRS 16 is as of November 1, 2019, the date of commencement of its first long-term lease. The Company is not subject to retrospective application of IFRS 16 nor restatement of comparative information. In applying IFRS 16, the Company: a) recognizes right-of-use b) recognizes amortization of right-of-use c) separates the total amount of cash paid into a principal portion (presented within financing activities) and interest (presented within operating activities) in the consolidated statement of cash flows. Lease payments included in the measurement of the lease liability comprise fixed lease payments less any lease incentives (e.g. free rent period). Non-lease non-lease non-lease For short-term low-value (d) Patent Rights Patent rights are recorded at cost less accumulated amortization and accumulated impairment loss. Straight line amortization is provided over the estimated useful lives of the assets, as prescribed by the granting body, which range up to twenty years. (e) Impairment of Long-Lived Assets The Company reviews computer equipment, furniture and equipment, leasehold improvements, right-of-use assets and patent rights for objective evidence of impairment whenever events or changes in circumstances indicate the carrying amount may not be recoverable. Recoverability is measured by comparison of the asset’s carrying amount to the asset’s recoverable amount, which is the greater of fair value less cost to sell and value in use. Value in use is measured as the expected future discounted cash flows expected to be derived from the asset. If the carrying value exceeds the recoverable amount, the asset is written down to the recoverable amount. The Company’s patent rights were tested for impairment in the current year and no adjustment to carrying value was required . (f) Deferred Income Taxes The Company uses the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are determined based on differences between the financial reporting and tax bases of assets and liabilities, unused tax losses and income tax reductions, and are measured using the substantively enacted tax rates and laws that will be in effect when the differences are expected to reverse. A deferred tax asset is recognized for unused tax losses, tax credits and deductible temporary differences, to the extent that it is probable that future taxable profits will be available against which they can be utilized. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. Management has determined not to recognize its net deferred tax assets, as it is not considered probable that future tax benefits will be realized. (g) Foreign Currency Transactions in currencies other than U.S. dollars are translated at exchange rates in effect at the date of the transactions. Foreign exchange differences arising on settlement are recognized separately in net and comprehensive loss. Monetary year end balances are converted to U.S. dollars at the rate in effect at that time. Non-monetary items in a currency other than U.S. dollars that are measured in terms of historical cost are translated using the exchange rate at the date of transaction or date of adoption of U.S. functional currency, whichever is later. Foreign exchange gains and losses are included in net and comprehensive loss. (h) Warrant Liability Certain of the Company’s warrants have exercise prices that are not fixed and as such in accordance with IAS 32, they must be recorded as a derivative financial liability. This applies both in the case where the Company’s warrants are denominated in a currency (Canadian dollars) other than the Company’s functional currency (U.S. dollars), and when a warrant is issued with a cashless exercise option. In each case, these warrants are initially measured at fair value and subsequent changes in fair value are recorded through Net and Comprehensive Loss for the year. A proportional amount of costs associated with the issue of shares and warrants is allocated to the warrants and recorded through Net and Comprehensive Loss for the year. At each balance sheet date, the Company reviews the classification of each Warrant Liability to determine whether the appropriate classification remains with Liabilities or requires reclassification to Equity. At each balance sheet date, the Warrant Liability of listed warrants is adjusted to fair value measured at the market price of the listed warrants and the Warrant Liability of unlisted warrants is adjusted to fair value using the Black-Scholes model. Prior to March 31, 2019, the Black-Sholes model for the unlisted warrants was determined using a comparable warrant quoted in an active market, adjusted for differences in the terms of the warrant. Since March 31, 2019, it was determined that the comparable warrant was no longer an effective benchmark and the Company began to use the market price and volatility of the Company’s common shares adjusted for differences in the terms of the warrant. (i) Fair Value Measurement The accounting guidance for fair value measurements prioritizes the inputs used in measuring fair value into the following hierarchy: Level 1 - Level 2 Level 3 The fair value of the warrant liability relating to listed and unlisted warrants is initially based on Level 2 significant observable inputs and at subsequent dates is adjusted using Level 1 inputs for listed warrants and Level 2 inputs for unlisted warrants. (j) Stock Based Compensation IFRS 2 requires options granted to employees and others providing similar services to be measured at the fair value of goods or services received, unless that fair value cannot be estimated reliably. If the entity cannot estimate reliably the fair value of the goods or services received, the entity shall measure the value and the corresponding increase in equity, indirectly, by reference to the fair value of the equity instruments granted, which the Company does using the Black-Scholes option pricing model. The fair value of the options granted is determined as at the grant date. Stock options granted to non-employees are valued at the fair value of the goods or service received, measured at the date on which the goods are received, or the services rendered. If the entity cannot estimate reliably the fair value of the goods or services received, the entity shall measure the value and the corresponding increase in equity, indirectly, by reference to the fair value of the equity instruments granted, which the Company does using the Black-Scholes option pricing model. The fair value of the options granted is determined as at the grant date. Stock options are issued to vest immediately or when used as a long-term incentive, are commonly issued over a vesting period of up to seven years. The expense related to options with a vesting period are recorded over the vesting period in accordance with the terms of the options. (k) Research and Development Costs Research and development activities undertaken with the prospect of gaining new scientific or technical knowledge and understanding are expensed as incurred. The costs of developing new products are capitalized as deferred development costs, if they meet the development capitalization criteria under IFRS. These criteria include the ability to measure development costs reliably, the product is technically, and commercially feasible, future economic benefits are probable, and the Company intends to and has sufficient resources to complete development and to use or sell the asset. To date, all the research and development costs have been expensed as the criteria for capitalization have not yet been met. (l) Earnings (loss) per Share Basic earnings (loss) per share are calculated using the weighted-average number of common shares outstanding during the year. Diluted earnings (loss) per share considers the dilutive impact of the exercise of outstanding stock options and warrants, as if the events had occurred at the beginning of the period or at a time of issuance, if later. Diluted loss per share has not been presented in the accompanying financial statements, as the effect would be anti-dilutive. (m) Investment Tax Credits As a result of incurring scientific research and development expenditures, management has estimated that there will be non-refundable non-refundable (n) Financial Instruments Financial assets include cash and cash equivalents, and amounts receivable which are measured at amortized cost. Amounts receivable include HST recoverable and other receivables. Financial liabilities include accounts payable and accrued liabilities which are measured at amortized cost. (o) Short-term Employee Benefits Short-term employee benefit obligations including Company paid medical, dental and life insurance plans, are measured on an undiscounted basis and are expensed as the related service is provided. (p) Provisions A provision is recognized, if as a result of a past event, the Company has a present legal or constructive obligation that can be estimated reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation. (q) Standards, Amendments and Interpretations not yet Effective There are currently no amendments, revisions and new IFRS standards, which have been issued but not effective until annual periods beginning after December 31, 2019 that are expected to have a material impact on the Company. (r) Adoption of New Accounting Standard IFRS 16 Leases, supersedes the requirements in IAS 17, IFRIC-15 and SIC-17. The new standard was effective for annual periods beginning on or after January 1, 2019. As of January 1, 2019, the Company was not party to any leases of greater than 12 months and as such was not required to make any restatements to its financial reports at January 1, 2019. The Company has implemented the new standard beginning with a new lease entered into during the current year. See Significant Accounting Policies (c) Leases – Right-of-use Assets |
Lease Assets
Lease Assets | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Presentation of leases for lessee [abstract] | ||
Lease Assets | 3. LEASE ASSETS For the three months ended March 31, 2020 Cost Accumulated Amortization Net Book Value Balance at December 31, 2019 $ 34,172 $ (3,778 ) $ 30,394 Additions during the period - - - Amortization in the period - (5,685 ) (5,685 ) Balance at March 31, 2020 $ 34,172 $ (9,463 ) $ 24,709 The Company entered into an 18-month lease for its corporate head office in Toronto, Ontario in November 2019. The Company recognized a right-of-use asset offset by a prepayment and a lease liability in the statement of financial position, initially measured at the present value of future lease payments (net of non-lease general expenses which are expensed as incurred). For the period ended March 31, 2020, the Company has recognized $5,685 of amortization and $4,464 in interest expense relating to this lease and has repaid $3,946 of the lease liability. On September 4, 2019, the Company entered into a lease agreement with a third party to lease certain office space in Chapel Hill, North Carolina. The term of the lease is 62 full months and the average monthly base rent is $8,320. The lease commencement date is April 1, 2020, the date the space is ready-for-use. As of April 1, 2020, the Company will recognize a right-of-use asset and a lease liability of $442,684 relating to this lease. | 3 LEASE ASSETS For the year ended December 31, 2019 Cost Accumulated Net Book Balance at December 31, 2018 $ — $ — $ — Additions during the year 34,172 — 34,172 Amortization in the year — (3,778 ) (3,778 ) Balance at December 31, 2019 $ 34,172 $ (3,778 ) $ 30,394 The Company entered into an 18-month in Toronto, Ontario in November 2019. The Company recognized a right-of-use asset offset by a prepayment and a lease liability in the statement of financial position, initially measured at the present value of future lease payments (net of non-lease general expenses which are expensed as incurred). For the period ended December 31, 2019, the Company has recognized $3,778 of amortization and $3,340 in interest expense relating to this lease a nd has repaid $5,100 of the lease liability On September 4, 2019, the Company entered into a lease agreement with a third party to lease certain office space in Chapel Hill, North Carolina 3 ready-for-use. right-of-use |
Patent Rights
Patent Rights | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Patent Rights [Abstract] | ||
Patent Rights | 4. PATENT RIGHTS For the three months ended March 31, 2020 Cost Accumulated Amortization & Impairment Losses Net Book Value Balance at December 31, 2019 $ 1,856,750 $ (255,005 ) $ 1,601,745 Additions during the quarter 56,130 - 56,130 Amortization in the quarter - (8,410 ) (8,410 ) Balance at March 31, 2020 $ 1,912,880 $ (263,415 ) $ 1,649,465 Balance at December 31, 2018 $ 1,398,713 $ (226,228 ) $ 1,172,485 Additions during the quarter 53,758 - 53,758 Amortization in the quarter - (6,175 ) (6,175 ) Balance at March 31, 2019 $ 1,452,471 $ (232,403 ) $ 1,220,068 | 4 PATENT RIGHTS For the year ended December 31, 2019 Cost Accumulated Net Book Balance at January 1, 2018 $ 978,126 $ (203,901 ) $ 774,225 Additions during the year 420,587 — 420,587 Amortization in the year — (22,327 ) (22,327 ) Balance at December 31, 2018 $ 1,398,713 $ (226,228 ) $ 1,172,485 Additions during the year 458,037 — 458,037 Amortization in the year — (28,777 ) (28,777 ) Balance at December 31, 2019 $ 1,856,750 $ (255,005 ) $ 1,601,745 |
Accounts payable and accrued li
Accounts payable and accrued liabilities | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Accounts Payable And Accrued Liabilities [Abstract] | ||
Disclosure of accrued expenses and other liabilities [text block] | 5. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES The balance of accounts payable and accrued liabilities at March 31, 2020 is $10,184,977 (December 31, 2019 – $11,412,896). The majority of the payables relate to amounts owed to the Company’s product development suppliers amounting to $9,144,666, for legal and audit an amount of $537,535 and the balance relating to regular business operations. Naglreiter Consulting Litigation On October 16, 2019, Naglreiter Consulting, LLC (“Naglreiter”) filed a Complaint for breach of contract against the Company in the U.S. District Court for the Southern District of Florida. The Complaint, which was served on the Company on October 24, 2019, alleges that the Company has not paid the amounts owed under several invoices and, further, that the invoices total approximately $5 million. On December 5, 2019, the Company filed an Answer, Affirmative Defenses and Counterclaim denying the allegations, asserting defenses to the Complaint, and asserting counterclaims against Naglreiter for (i) breach of contract including that the services that were rendered by Naglreiter were not rendered in a satisfactory manner and that Naglreiter failed to return property paid for by the Company, (ii) fraudulent inducement, (iii) negligent misrepresentation, (iv) indemnification and (v) conversion for refusing to return Titan’s property. On February 13, 2020, Naglreiter filed an Amended Complaint against the Company to add a complaint of unjust enrichment alleging that Naglreiter had conferred benefits on the Company without the Company paying fair market value for them and asked the courts for a constructive trust over certain property of the Company in Naglreiter’s possession. On March 9, 2020, the Company filed an Answer and Affirmative Defenses to the Amended Complaint and an Amended Counterclaim, denying the allegations, asserting defenses to the Amended Complaint, and bringing additional counterclaims of (i) replevin to recover possession of personal property held by Naglreiter, (ii) civil theft for depriving the Company of its right to certain property in Naglreiter’s possession and (iii) injunctive relief to have Naglreiter cease and desist the violation of confidentiality provisions in the parties’ agreements. The Company is seeking a return of property having a value of over $4 million as well as the return of amounts paid for work not done or inadequately performed by Naglreiter. The Company intends to defend itself vigorously in this matter and pursue all relief to which it is entitled. The Company has included in its accounts payable $2,889,626 for outstanding invoices relating to the period that Naglreiter was engaged with the Company. | 5 ACCOUNTS PAYABLE AND ACCRUED LIABILITIES The balance of accounts payable and accrued liabilities at December 31, 2019 is $11,412,896 (December 31, 2018 - $6,447,888). The majority of the payables relate to amounts owed to the Company’s R&D suppliers amounting to $10,049,622, for legal and audit an amount of $560,904 and the balance relating to regular business operations. Naglreiter Consulting Litigation On October 16, 2019, Naglreiter Consulting, LLC (“Naglreiter”) filed a Complaint for breach of contract against the Company in the U.S. District Court for the Southern District of Florida. The Complaint, which was served on the Company on October 24, 2019, alleges that the Company has not paid the amounts owed under several invoices and, further, that the invoices total approximately $ 5 million. On December 5, 2019, the Company filed an Answer, Affirmative Defenses and Counterclaim denying the allegations, asserting defenses to the Complaint, and asserting counterclaims against Naglreiter for (i) breach of contract including that the services that were rendered by Naglreiter were not rendered in a satisfactory manner and that Naglreiter failed to return property paid for by the Company, (ii) fraudulent inducement, (iii) negligent misrepresentation, (iv) indemnification and (v) conversion for refusing to return Titan’s property. On February 13, 2020, Naglreiter filed an Amended Complaint against the Company to add a complaint of unjust enrichment alleging that Naglreiter had conferred benefits on the Company without the Company paying fair market value for them and asked the courts for a constructive trust over certain property of the Company in Naglreiter’s possession. On March 9, 2020, the Company filed an Answer and Affirmative Defenses to the Amended Complaint and an Amended Counterclaim, denying the allegations, asserting defenses to the Amended Complaint, and bringing additional counterclaims of (i) replevin to recover possession of personal property held by Naglreiter, (ii) civil theft for depriving the Company of its right to certain property in Naglreiter’s possession and (iii) injunctive relief to have Naglreiter cease and desist the violation of confidentiality provisions in the parties’ agreements. The Company is seeking a return of property having a value of over $4 million as well as the return of amounts paid for work not done or inadequately done by Naglreiter. The Company intends to defend itself vigorously in this matter and pursue all relief to which it is entitled. The Company has included in its accounts $2,889,626 for outstanding invoices relating to the period that Naglreiter was engaged with the Company. |
Warrant Liability
Warrant Liability | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Warrant Liability [Abstract] | ||
Warrant Liability | 6. WARRANT LIABILITY Three Months Ended Year Ended March 31, 2020 December 31, 2019 Number of Warrants Amount Number of Warrants Amount Opening Balance 21,203,411 $ 3,621,444 13,901,859 $ 11,250,167 Issue of warrants expiring, March 21, 2024 - - 8,455,882 15,897,059 Issue of warrants expiring, March 27, 2025 3,500,000 475,300 - - Warrants exercised during the period (2,400,000 ) (555,120 ) (1,018,506 ) (3,742,824 ) Warrants expired during the period - - (135,824 ) - Foreign exchange adjustment during the period - (51,091 ) - 17,687 Fair value adjustment during the period - (1,117,476 ) - (19,800,645 ) Ending Balance 22,303,411 $ 2,373,057 21,203,411 $ 3,621,444 | 6. WARRANT LIABILITY Year Ended Year Ended Number of Amount Number of Amount Opening Balance 13,901,859 $ 11,250,167 4,933,231 $ 17,849,460 Issue of warrants expiring, April 10, 2023 — — 1,295,554 5,212,087 Issue of warrants expiring, August 10, 2023 — — 7,679,574 6,297,251 Issue of warrants expiring, March 21, 2024 8,455,882 15,897,059 — — Warrants exercised during the year (1,018,506 ) (3,742,824 ) (6,500 ) (28,949 ) Warrants expired during the year (135,824 ) — — — Foreign exhange adjustment during the year — 17,687 — (984,462 ) Fair value adjustment during the year — (19,800,645 ) — (17,095,220 ) Ending Balance 21,203,411 $ 3,621,444 13,901,859 $ 11,250,167 |
Share Capital
Share Capital | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Share Capital [Abstract] | ||
Share Capital | 7. SHARE CAPITAL a) Authorized: u nlimited number of common shares, no par Issued: 54,216,877 (December 31, 2019: 39,907,681) Exercise prices of units, certain warrants and options are presented in Canadian currency when they are exercisable in Canadian dollars unless otherwise noted. March 2020 Offering On March 27, 2020, the Company completed an offering of securities made pursuant to an agency agreement dated March 17, 2020 between the Company and H.C.Wainwright & Co., LLC (“Wainwright”) for the purchase and sale of 7,000,000 common shares of the Company (the “Common Shares”) at a per share purchase price of US $0.17 per Common Share and 3,500,000 Common Share purchase warrants (each, a “Warrant”), resulting in total gross proceeds of $1,190,000 ($862,294 net of closing cash costs including cash commission described below). Each whole Warrant is exercisable to purchase one Common Share (a “Warrant Share”) at an exercise price of US $0.19 per Common Share for a period of five years following the date of closing of the offering. The warrants were valued at $475,300 based on the value determined by the Black-Scholes model and the balance of $714,700 was allocated to common shares. Pursuant to the placement agency agreement, in addition to the cash commission paid to Wainwright of $83,300, broker warrants were issued to Wainwright which entitle the holder to purchase 490,000 Common Shares at a price of US $0.2125 per share prior to expiry on March 27, 2025. The broker warrants were valued using the Black-Scholes model and the value of $65,600 was accounted for as an increase in the closing costs and allocated between the shares and the warrants. Second Aspire Agreement On December 23, 2019, the Company entered into a common share purchase agreement (the “Second Aspire Agreement”) with Aspire Capital Fund, LLC (“Aspire Capital”) whereby Aspire Capital committed to purchase up to $35 million of common shares of Titan (“Common Shares”) at Titan’s request from time to time, until June 23, 2022. On commencement of the Second Aspire Agreement, Titan issued to Aspire Capital 973,000 Common Shares, as consideration for entering into the Second Aspire Agreement. The value of the Common Shares issued of $423,440, was included in capital, offset by a fee of the same amount plus $35,122 for additional costs incurred. Between January 3, 2020 and February 13, 2020, the Company issued 4,408,048 common shares pursuant to the Second Aspire Agreement as outlined in the following table: Grant Date Common shares issued Value January 3, 2020 500,000 $ 219,600 January 6, 2020 500,000 229,300 January 8, 2020 400,000 195,160 January 10, 2020 500,000 247,550 January 17, 2020 600,000 303,000 January 23, 2020 600,000 295,320 February 6, 2020 600,000 282,000 February 13, 2020 708,048 300,000 4,408,048 $ 2,071,930 January 2020 Equity Transaction On January 3, 2020, the Company announced that Cambridge Design Partnership Ltd. (“Cambridge”) had subscribed for common shares of the Company. The Company issued 501,148 Common Shares at a unit price of $0.50 for satisfaction of the trade payable with Cambridge of $250,574. First Aspire Agreement On August 29, 2019, the Company entered into a common share purchase agreement (the “First Aspire Agreement”) with Aspire Capital whereby Aspire Capital committed to purchase up to $35 million of common shares of Titan at Titan’s request from time to time, until February 28, 2022. On commencement of the First Aspire Agreement, Titan immediately sold to Aspire 1,777,325 Common Shares, representing 5.3% of the Common Shares then issued and outstanding, at a price of US $1.6879 per Common Share for gross proceeds of $3.0 million and issued to Aspire Capital 639,837 Common Shares, representing 1.9% of the Common Shares then issued and outstanding, as consideration for entering into the First Aspire Agreement. Northland Securities, Inc. acted as the Company’s agent and financial advisor in connection with the offering and pursuant to an agency agreement, was paid a cash fee of $160,000. Gross proceeds of $3.0 million, net of costs and fees of $417,113, was included in capital. Subsequent to August 29, 2019 and subject to the First Aspire Agreement, the Company issued Common Shares to Aspire as outlined in the following table: Grant Date Common shares issued Value August 30, 2019 2,417,162 $ 3,000,000 November 8, 2019 100,000 42,560 November 8, 2019 100,000 42,560 November 12, 2019 100,000 42,970 November 12, 2019 100,000 42,000 November 13, 2019 100,000 42,970 November 14, 2019 300,000 128,910 November 15, 2019 2,500,000 1,074,250 November 19, 2019 2,067,282 888,311 7,784,444 $ 5,304,531 March 2019 Equity Offering On March 21, 2019, Titan completed an offering of securities made pursuant to an agency agreement dated March 18, 2019 between the Company and Bloom Burton Securities Inc. (“Bloom Burton”). The Company sold 8,455,882 units under the offering at a price of US $3.40 per Unit for gross proceeds of approximately $28,750,000 ($25,426,744 net of closing cost including cash commission of $2,012,500). Each unit consisted of one Common Share of the Company and one Common Share purchase warrant, each warrant entitles the holder thereof to acquire one Common Share of the Company at an exercise price of US $4.00 and expiring March 21, 2024. The warrants were valued at $15,897,059 based on the value determined by the Black-Scholes model and the balance of $12,852,941 was allocated to common shares. Pursuant to the agency agreement, in addition to the cash commission paid to Bloom Burton, broker warrants were issued to Bloom Burton which entitle the holder to purchase 591,911 Common Shares at a price of US $3.40 per share prior to expiry on March 21, 2021. The broker warrants were valued using the Black-Scholes model and the value of $864,190 was accounted for as an increase in the closing costs and allocated between the shares and the warrants. During the quarter ended March 31, 2019, 1,018,506 warrants were exercised for total proceeds of $3,259,219. The fair value of the exercised warrants was $3,742,824 which was reclassed from warrant liability to common stock. No additional warrants were exercised during 2019. b) Stock Options and Compensation Options Titan has reserved and set aside up to 15% of the issued and outstanding shares of Titan for granting of options to employees, officers, consultants and advisors. At March 31, 2020, 6,859,600 common shares (December 31, 2019: 5,986,152) were available for issue in accordance with the Company’s stock option plan. The terms of these options are determined by the Board of Directors. On January 28, 2020, the Company issued 25,765 stock options with an exercise price of CDN $0.657 to a director in exchange for services rendered. The options vest immediately and have a contractual life of 7 years. For the three months ended March 31,2020, $228,576 of stock-compensation was recorded (2019 – $251,357). A summary of the status of the Company’s outstanding stock options as of March 31, 2020 and December 31, 2019 and changes during the periods ended on those dates is presented in the following table: Stock Options – CDN $ denominated Three months ended March 31, 2020 Year Ended December 31, 2019 Number of Stock Options (1) Weighted average Exercise Price (CDN) Number of Stock Options (1) Weighted average Exercise Price (CDN) Balance Beginning 860,379 $ 5.89 875,433 $ 18.20 Granted 25,765 0.66 35,719 4.54 Expired/Forfeited - - (50,773 ) 31.79 Balance Ending 886,144 $ 5.74 860,379 $ 5.89 Stock Options – US $ denominated Three months ended March 31, 2020 Year Ended December 31, 2019 Number of Stock Options Weighted average Exercise Price (USD) Number of Stock Options Weighted average Exercise Price (USD) Balance Beginning 854,042 $ 2.65 50,349 $ 1.55 Granted - - 843,693 2.72 Expired/Forfeited (467,255 ) 2.20 (40,000 ) 3.72 Balance Ending 386,787 $ 3.19 854,042 $ 2.65 1. After giving consideration for 30:1 share consolidation effected June 20, 2018. The weighted-average remaining contractual life and weighted-average exercise price of options outstanding and of options exercisable as at March 31, 2020 are as follows: Canadian Dollar Denominated Options Exercise Price (CDN) Number Outstanding Weighted-average remaining contractual life (years) Options Exercisable $0.66 25,765 6.83 25,765 $3.28 31,498 5.42 31,498 $4.50 18,936 3.03 18,936 $4.54 743,122 3.99 370,354 $4.80 3,040 0.46 3,040 $7.49 5,590 5.27 5,590 $9.00 11,481 5.27 11,481 $9.60 1,105 0.52 1,105 $11.70 6,667 0.69 6,667 $12.00 1,948 0.68 1,948 $30.00 28,260 1.40 28,260 $30.60 2,096 0.73 2,096 $32.40 810 0.83 810 $45.30 560 0.36 560 $51.60 5,266 0.19 5,268 886,144 3.96 513,378 US Dollar Denominated Options Exercise Price (USD) Number Outstanding Weighted-average remaining contractual life (years) Options Exercisable $1.55 50,349 1.72 50,349 $2.20 2,165 2.30 2,165 $3.40 294,273 6.12 197,273 $3.72 40,000 2.44 - 386,787 5.14 249,787 Total 1,272,931 4.32 763,165 The weighted average exercise price of Canadian dollar denominated options outstanding is CDN $5.74 and CDN $6.61 for options that are exercisable. The weighted average exercise price of US dollar denominated options outstanding is US $3.19 and US $3.02 for options that are exercisable. Options are granted to Directors, Officers, Employees and Consultants at various times. Options are to be settled by physical delivery of shares. Inputs for Measurement of Grant Date Fair Values The grant date fair value of all share-based payment plans was measured based on the Black-Scholes model. Expected volatility was estimated by considering historic average share price volatility. The weighted average inputs in the original currency of the grants (CDN$ or US$) used in the measurement of fair values at grant date of the share-based option grants for the three months ended March 31, 2020 and 2019 are as follows: 2020 - CDN 2019 – US Fair Value calculated CDN $0.43 - Share price at grant CDN $.62 - Exercise price CDN $0.66 - Expected Option Life 3.5 years - Risk free interest rate (based on government bonds) 1.41% - Expected Volatility 109.00% - Expected dividends Nil - c) Warrants In addition to the warrants accounted for as a liability (see Note 5), at March 31, 2020, the Company has 1,709,276 broker warrants that are issued, outstanding and exercisable (December 31, 2019 - 1,219,276). These broker warrants expire between April 10, 2020 and March 27, 2025 (December 31, 2018 - broker warrants had expiry dates between April 10, 2020 and March 21,2021). | 7. SHARE CAPITAL a) Authorized: unlimited number of common shares, no par Issued: 39,907,681 (December 31, 2018: 21,675,849) Exercise prices of units, certain warrants and options are presented in Canadian currency when they are exercisable in Canadian dollars unless otherwise noted. On December 23, 2019, the Company entered into a common share purchase agreement (the “Aspire Agreement”) with Aspire Capital Fund, LLC (“Aspire Capital”) whereby Aspire Capital committed to purchase up to $35 million of common shares of Titan (“Common Shares”) , for to On August 29, 2019, the Company entered into a common share purchase agreement (the “First Aspire Agreement”) with Aspire Capital whereby Aspire Capital committed to purchase up to $35 million of common shares of Titan at Titan’s request from time to time, until February 28, 2022. On commencement of the First Aspire Agreement, Titan immediately sold to Aspire 1,777,325 Common Shares, representing 5.3% of the Common Shares then issued and outstanding, at a price of US , Gross proceeds of $3.0 million, net of costs and fees of $417,113 , was Common Shares Grant Date Common Value August 30, 2019 2,417,162 $ 3,000,000 November 8, 2019 100,000 42,560 November 8, 2019 100,000 42,560 November 12, 2019 100,000 42,970 November 12, 2019 100,000 42,000 November 13, 2019 100,000 42,970 November 14, 2019 300,000 128,910 November 15, 2019 2,500,000 1,074,250 November 19, 2019 2,067,282 888,311 7,784,444 $ 5,304,531 On March 21, 2019, Titan completed an offering of securities made pursuant to an agency agreement dated March 18, 2019 between the Company and Bloom Burton Securities Inc. (“Bloom Burton”). The Company sold 8,455,882 u o u Pursuant to the agency agreement, in addition to the cash commission paid to Bloom Burton, broker warrants were issued to Bloom Burton which entitle the holder to purchase 591,911 Common Shares at a price of US $3.40 per share prior to expiry on March 21, 2021. The broker warrants were valued using the Black-S c During the quarter ended March 31, 2019, 1,018,506 warrants w e On August 10, 2018, Titan Completed an offering of securities made pursuant to an agency agreement dated August 7, 2018 between the Company and Bloom Burton . 7,679,574 units under the o u u Pursuant to the agency agreement, in addition to the cash commission paid to Boom Burton, broker warrants were issued to Bloom Burton which entitle the holder to purchase 537,570 Common Shares at a p r On June 19, 2018 , o :1 share consolidation. On April 10, 2018, Titan completed an offering of securities made pursuant to an agency agreement dated April 3, 2018 between the Company and Bloom Burton. The Company sold 1,126,664 u o u u Pursuant to the agency agreement, in addition to the cash commission paid to Bloom Burton, broker warrants were issued to Bloom Burton which entitle the holder to purchase 78,867 Common Shares at a price of CDN $9.00 per share prior to expiry on April 10, 2020. On May 10, 2018 , , , u , , u u Pursuant to the agency agreement, in addition to the cash commission paid to Bloom Burton, broker warrants were issued to Bloom Burton, which entitle the holder to purchase 10,928 Common Shares at a price of CDN $9.00 per share prior to expiry on April 10, 2020. b) Stock Options and Compensation Options On May 29, 2019, the shareholders of Titan approved an increase of its reserve for options from 10% and set aside up to 15% of the issued and outstanding shares of Titan for granting of options to employees, officers, consultants and advisors. At December 31, 2019, 5,986,152 common shares (December 31, 2018: 1,241,803) were available for issue in accordance with the Company’s stock option plan (the “Option Plan”). The terms of these options are determined by the Board of Directors. For the period ended December 31, 2019, $1,651,119 of stock-compensation expense was recognized (December 31, 2018 - $ 1,505,625). On May 29, 2019, the shareholders approved amendments to the exercise prices of options previously granted to executive officers and other employees of the Company under the Option Plan. The exercise per option, being the higher of the March 21, 2019 offering price of US per share and the five-day volume weighted average price as determined as of the close of business on May 28, 2019. In accordance with IFRS 2, the options affected by the amendments were revalued just prior to the amendment and just after the amendment based on the values determined by the Black-Scholes model. The incremental value of CDN $622,460 (US $475,622) was recognized as stock based compensation with CDN $382,390 (US $292,184) recognized immediately and CDN $240,070 (US The amended fair value of all affected share-based payment plans was measured based on the Black-Scholes formula. Expected volatility was estimated by considering historic average share price volatility. The weighted average inputs used in the measurement of fair values at the amendment date of the share-based option plan are as follows: May 29, 2019 May 29, 2019 Fair Value calculated CDN $ 0.01 1.40 CDN $ 1.06 2.10 Share price at grant CDN $ 3.47 CDN $ 3.47 Exercise price CDN $ 12.90 51.60 CDN $ 4.54 Expected Volatility 98.6 99.4 98.6 99.4 Expected Option Life 1.0 3.5 1.0 3.5 Expected dividends Nil Nil Risk free interest rate (based on government bonds) 1.48 1.57 1.48 1.57 A summary of the status of the Company’s outstanding stock options as of December 31, 2019 and December 31, 2018 and changes during the periods ended on those dates is presented in the following table: Stock Options - CDN $ denominated Year ended December 31, 2019 December 31, 2018 Number of Stock Weighted average Number of Weighted average Balance Beginning 875,433 $ 18.20 591,609 $ 21.30 Granted 35,719 4.54 322,517 13.51 Expired/Forfeited (50,773 ) 31.79 (38,693 ) 24.90 Balance Ending 860,379 $ 5.89 875,433 $ 18.20 Stock Options - US $ denominated Year ended December 31, 2019 December 31, 2018 Number of Stock Weighted average USD Number of Weighted average US Balance Beginning 50,349 $ 1.55 — $ — Granted 843,693 2.72 50,349 1.55 Expired/Forfeited (40,000 ) 3.72 — — Balance Ending 854,042 $ 2.65 50,349 $ 1.55 1. After giving consideration for 30:1 share consolidation effected June 20 , The weighted-average remaining contractual life and weighted-average exercise price of options outstanding and of options exercisable as at December 31, 2019 are as follows: Canadian Dollar Denominated Options Exercise Price (CDN) Number Weighted-average Options $ 3.28 31,498 5.67 31,498 $ 4.50 18,936 3.28 18,936 $ 4.54 743,122 6.76 296,807 $ 4.80 3,040 0.71 3,040 $ 7.49 5,590 5.52 5,590 $ 9.00 11,481 5.52 11,481 $ 9.60 1,105 0.77 1,105 $ 11.70 6,667 0.94 6,667 $ 12.00 1,948 0.93 1,948 $ 30.00 28,260 1.65 28,260 $ 30.60 2,096 0.98 2,096 $ 32.40 810 1.08 810 $ 45.30 560 0.61 560 $ 51.60 5,266 0.44 5,268 860,379 4.37 414,066 US Dollar Denominated Options Exercise Price Number Weighted-average Options $ 1.55 50,349 1.97 50,349 $ 2.20 469,420 6.53 2,165 $ 3.40 294,273 6.37 197,273 $ 3.72 40,000 2.69 0 854,042 6.28 249,787 Total 1,714,421 5.32 663,853 The weighted average exercise price of Canadian dollar denominated options outstanding is CDN $5.89 and CDN $7.35 for options that are exercisable. The weighted average exercise price of US dollar denominated options outstanding is US $2.65 and US $3.02 for options that are exercisable. Options are granted to Directors, Officers, Employees and Consultants at various times. Options are to be settled by physical delivery of shares. Options and the terms of each issue over the year ended December 31, 2019 are outlined below. Grant date/ Recipient Number of Vesting Conditions Contractual Life February 14, 2019, options granted to a Consultant 40,000 Options may vest over a 15-month Cancelled May 29, 2019, options granted to a Director 253,000 Options vest over a specified vesting period not exceeding 4 years 7 years June 28, 2019, options granted to an Employee 10,000 Options vest as to 1/3 of the total number of Options granted, every year from Grant Date 7 years July 18, 2019, options granted to a Director 25,719 Options vest immediately 7 years July 19, 2019, options granted to an Employee 467,255 Options vest as to 1/4 of the total number of Options granted, every year from Grant Date 7 years July 19, 2019, options granted to a Consultant 2,165 Options vest as to 1/3 of the total number of Options granted, every year from Grant Date 7 years July 19, 2019, options granted to a Director 41,273 Options vest immediately 7 years September 9, 2019, options granted to a Consultant 40,000 Options vest over a 15-month m 2.5 years Inputs for Measurement of Grant Date Fair Values The grant date fair value of all share-based payment plans was measured based on the Black-Scholes model 2019 2019 2018 Fair Value calculated US $1.48 CDN $1.61 CDN $5.99 Share price at grant US $2.36 CDN $2.90 CDN $10.79 Exercise price US $2.72 CDN $4.54 CDN $11.97 Expected Option Life 3.5 years 3.4 years 3 years Risk free interest rate (based on government bonds) 1.50% 1.43% 1.90% Expected Volatility 97.90% 98.10% 90.12% Expected dividends Nil Nil Nil c) Warrants In addition to the warrants accounted for as a liability (see Note 6), at December 31, 2019, the Company has 1,219,276 broker warrants that are issued, outstanding and exercisable (December 31, 2018 - 786,183). These broker warrants expire between April 10, 2020 and March 21, 2021 (December 31, 2018 - broker warrants had expiry dates between March 16, 2019 and August 10, 2020). |
Income taxes
Income taxes | 12 Months Ended |
Dec. 31, 2019 | |
Capital Management | |
Income taxes | 8. INCOME TAXES a) Current Income Taxes A reconciliation of combined federal and provincial corporate income taxes at the Company’s effective tax rate of 26.5 8 26.5 December 31, 201 9 December 31, 201 8 Net Loss before income taxes $ (41,907,079 ) $ (22,639,272 ) Income taxes at statutory rates $ (11,105,376 ) $ (5,999,407 ) Tax effect of expenses not deductible for income tax purposes: Tax/FX rate changes and other adjustments — — Permanent differences (4,800,780 ) (4,374,564 ) Unrecognized share issue costs (625,220 ) (354,072 ) Tax/foreign currency rate changes and other adjustments 93,724 — Total tax recovery (16,437,652 ) (10,728,043 ) Tax recovery not recognized 16,437,652 10,728,043 $ — $ — b) Deferred Income Taxes Deferred income tax assets and liabilities result primarily from December 31, 201 9 December 31, 201 8 Non-Capital $ 63,740,497 $ 47,679,897 Qualifying Research and Development expenditures 1,493,309 1,493,309 Share issue costs and other 1,999,584 1,622,533 Total tax assets 67,233,390 50,795,739 Tax assets not recognized (67,233,390 ) (50,795,739 ) Net deferred tax assets $ — $ — In assessing the realizability of deferred tax assets, management considers whether it is probable that some or all the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. Management, based on IFRS criteria, has determined, at this time, not to recognize its deferred tax assets. c) Losses carried forward The Company has non-capital 240,594,715 non-capital 2027 $ 786,557 2028 169,954 2029 186,708 2030 2,003,594 2031 12,735,836 2032 7,260,729 2033 8,856,497 2034 15,819,741 2035 43,934,918 2036 28,310,254 2037 19,604,159 2038 40,255,192 2039 60,670,576 $ 240,594,715 The Company has accumulated Qualifying Research and Development expenses of $ 5,635,128 As a result of a Canada Revenue Agency (CRA) audit completed in 2017 and 2016, regarding Titan’s 2012 and 2011 SR&ED claim , 6,517,436 7,260,729 9,423,694 12,735,836 9,439,430 5,635,128 d) Investment Tax Credits At December 31, 201 9 , 1,167,560 8 1,167,560 At December 31, 201 9 , 237,997 8 237,997 |
Commitments
Commitments | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Commitments [abstract] | ||
Commitments | 8. COMMITMENTS As part of its program of research and development around the single-port robotic surgical system, the Company has outsourced certain aspects of the design and development to third party technology and development companies. At March 31, 2020, $1,305,910 in purchase orders remain outstanding (December 31, 2019 - $ 1,327,294), however work relating to these commitments is currently delayed pending additional funding and the ramp up in the Company’s development projects. The Company also has on deposit with a U.S. supplier $481,400 to be applied against future invoices (December 31, 2019 - $481,400). | 9. COMMITMENTS As part of its program of research and development around the single-port robotic surgical system, the Company has outsourced certain aspects of the design and development to third party technology and development companies. At December 31, 2019 , |
Related Party Transactions
Related Party Transactions | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Related Party Transactions [Abstract] | ||
Related Party Transactions | 9. RELATED PARTY TRANSACTIONS During the three months ended March 31, 2020, transactions between the Company’s directors, officers and other related parties were related to compensation matters in the normal course of operations and are measured at the exchange amount, which is the amount of consideration established and agreed to by the related parties. Compensation paid to Executive Officers for the three months ended March 31, 2020 amounted to $186,401 compared to $514,252 for the three months ended March 31, 2019. March 31, 2020 December 31, 2019 Number of Shares % Number of Shares % John Barker 32,714 0.06 32,714 0.08 Stephen Randall 22,993 0.04 22,993 0.06 David McNally 4,167 0.01 4,167 0.01 John Schellhorn 294 0.00 294 0.00 Total 60,168 0.11 60,168 0.15 Common Shares Outstanding 54,216,877 100 % 39,907,681 100 % | 10. RELATED PARTY TRANSACTIONS During the year ended December 31, 2019, transactions between the Company’s directors, officers and other related parties were related to compensation matters in the normal course of operations and are measured at the exchange amount, which is the amount of consideration established and agreed to by the related parties. Compensation paid to Executive Officers for the year ended December 31, 2019 amounted to $1,495,611 compared to $1,552,367 for the year December 31 December 31, 2019 December 31, 2018 Number of Shares % Number of Shares % John Barker 32,714 0.08 31,714 0.15 Stephen Randall 22,993 0.06 21,643 0.10 David McNally 4,167 0.01 4,167 0.02 John Schellhorn 294 0.00 294 0.00 Bruce Wolff 1 — — 7,610 0.03 Total 60,168 0.15 65,428 0.30 Common Shares Outstanding 39,907,681 100 % 21,675,849 100 % 1: Bruce Wolff retired as a Director effective May 29, 2019 |
Financial Instruments
Financial Instruments | 12 Months Ended |
Dec. 31, 2019 | |
Capital Management | |
Financial Instruments | 11. FINANCIAL INSTRUMENTS The Company’s financial instruments consist of cash and cash equivalents, amounts receivable and accounts payable and accrued liabilities. The fair value of these financial instruments approximates their carrying values, unless otherwise noted, due to the short maturities of these instruments or the discount rate applied. Warrant liabilities are valued at fair value as described in note 2( h The Company’s risk exposures and their impact on the Company’s financial instruments are summarized below: a) Credit risk The Company’s credit risk is primarily attributable to cash and cash equivalents and amounts receivable. The Company has no significant concentration of credit risk arising from operations. Cash and cash equivalents are held with reputable financial institutions, from which management believes the risk of loss to be remote. Financial instruments included in amounts receivable consists of HST tax due from the Federal Government of Canada and interest receivable from interest saving account and short-term promissory notes. Management believes that the credit risk concentration with respect to financial instruments included in amounts receivable is remote. b) Liquidity risk The Company’s approach to managing liquidity risk is to ensure that it will have sufficient liquidity to meet liabilities when due and when appropriate will scale back its operations. As at December 31, 2019, the Company had cash and cash equivalents of $ 814,492 11,471,243 11,441,668 6,447,888 3,621,444 11,250,167 The Company currently does not generate any revenue or income (other than interest income on its cash balances) and accordingly, it is (and it will be for the foreseeable future) dependent primarily upon equity financing for any additional funding required for development and operating expenses. The ability of the Company to arrange such financing in the future will depend in part upon prevailing capital market conditions and the business success of the Company. There can be no assurance that the Company will be successful in its efforts to arrange additional financing on terms satisfactory to the Company. If additional financing is raised by the issuance of shares or convertible securities from treasury, control of the Company may change, and shareholders may suffer additional dilution. If adequate funds are not available, or are not available on acceptable terms, the Company may not be able to take advantage of opportunities, or otherwise to resume and continue its technology development program . c) Market risk Market risk is the risk of loss that may arise from changes in market factors such as interest rates and foreign exchange rates. (i) Interest rate risk The Company has cash balances and no interest-bearing debt. The Company’s current policy is to invest excess cash in interest savings accounts and short-term promissory notes. The Company periodically monitors the investments it makes and is satisfied with the credit risk of its bank. (ii) Foreign currency risk The Company’s functional currency is the U.S. dollar. Expenditures transacted in foreign currency are converted to U.S. dollars at the rate in effect when the transaction is initially booked. The gain or loss on exchange, when the transaction is settled, is booked to the Statement of Net and Comprehensive Loss. Management acknowledges that there is a foreign exchange risk derived from currency conversion and believes this risk to be low as the Company now maintains a minimum balance of Canadian dollars. d) Sensitivity analysis Cash equivalents include cash balances and amounts on deposit in interest savings account and short-term promissory notes. Sensitivity to a plus or minus 1% change in interest rates could affect annual net loss by $62,071 (December 31, 2018 - $ 113,711 A strengthening of the U.S. dollar at December 31, 2019, as indicated below, against current assets and accounts payable and accrued liabilities denominated in Canadian currency of CDN $556,276 (December 31, 2018 - $277,228) and warrant liability of CDN $868,855 (December 31, 2018 - $5,520,457) would result in increased equity and an increased profit for the period of $32,541 (December 31, 2018 - $192,059) as shown on the chart below. This analysis is based on foreign currency exchange rate variances that the Company considers to be reasonably possible at the end of the reporting period. The analysis assumes that all other variables, in particular, interest rates, remain constant. The analysis is performed on the same basis for December 31, 2018. December 31, 2019 Profit of (Loss) 5% strengthening CDN Current assets $ (19,687 ) CDN Accounts payable and accrued liabilities $ 52,228 $ 32,541 December 31, 2018 5% strengthening CDN Current assets $ (10,155 ) CDN Accounts payable and accrued liabilities $ 202,214 $ 192,059 A weakening of the U.S. dollar against the Canadian dollar at December 31, 2019 and December 31, 2018 would have had the equal but opposite effect on the above currencies to the amount shown above, on the basis that all other variables remain constant. |
Segmented Reporting
Segmented Reporting | 12 Months Ended |
Dec. 31, 2019 | |
Capital Management | |
Segmented Reporting | 12. SEGMENTED REPORTING The Company operates in a single reportable operating segment – the research and development of the Company’s single-port robotic surgical system, the next generation of surgical robotic platform. The Company’s long-term assets are domiciled in Toronto, Canada. |
Capital management
Capital management | 12 Months Ended |
Dec. 31, 2019 | |
Capital Management | |
Capital management | 13. CAPITAL MANAGEMENT The Company’s capital is composed of shareholders’ equity. The Company manages its capital structure and makes adjustments to it, based on the funds available to the Company, to support the development of its single-port robotic surgical system. The Board of Directors does not establish quantitative return on capital criteria for management, but rather relies on the expertise of the Company’s management to sustain future development of its single-port robotic surgical system. The Company has further progress to make in the development of the single-port robotic surgical system and anticipates that the cost of completion will exceed its current resources. Accordingly, the Company will be dependent on external financing to fund its future activities. To carry out the completion of the single-port robotic surgical system and pay for administrative costs, the Company will continue to raise additional amounts as needed. Management reviews its capital management approach on an ongoing basis and believes that this approach, given the relative size of the Company, is reasonable. There were no changes in the Company’s approach to capital management during the year ended December 31, 2019. The Company is not subject to externally imposed capital requirements other than the Nasdaq requirement that the Company maintain a minimum market value of $35 million. The Company currently does not meet this requirement and has until May 25, 2020 to regain compliance otherwise the Company’s securities are subject to potential de-listing. |
Subsequent events
Subsequent events | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Subsequent Events [Abstract] | ||
Subsequent events | 10. SUBSEQUENT EVENTS Senior Secured Loan from Global Medical Technology Company On April 28, 2020, the Company issued an 8% $1.5 million senior secured promissory note (“Note”) to a leading global medical technology company (the “Corporate Lender”) and executed and delivered a security agreement (the “Security Agreement”) in favor of the Corporate Lender. The Note matures on April 28, 2023 and the unpaid principal balance owing under the Note, together with any accrued and unpaid interest and all other unpaid obligations under the Note, shall be due and payable in full on the earliest to occur of: (i) April 28, 2023, (ii) a Change of Control (as defined in the Note), or (iii) a Qualified Financing (as defined in the Note) subject to an accelerated due date under certain adverse conditions. The Security Agreement grants a security interest in all of our present and future property including all personal property, inventory, equipment and intellectual property to the Corporate Lender. In addition, the Corporate Lender’s rights and powers include without limitation (a) exercising and enforcing all rights and remedies of a holder of collateral as if the Corporate Lender were the absolute owner of the collateral, (b) collection of any proceeds arising in respect of all of our property pledged as security for the loan, (c) license or sublicense, whether on an exclusive or nonexclusive basis, of any of our intellectual property for such term and on such conditions and in such manner as the Corporate Lender in its sole judgment determines (taking into account such provisions as may be necessary to protect and preserve such intellectual property), and (d) the right to enforce its security in the event of a default which may include the appointment of a receiver by instrument or order of the court. The Company intends to use the proceeds of the Note for general corporate purposes while seeking additional financing to meet longer-term capital needs to support the development of its single-port robotic surgical system, instruments and accessories; and funding working capital (including the reduction of outstanding payables). Warrants Exercised Subsequent to March 31, 2020, 200,000 warrants were exercised for gross proceeds of $38,000. May 2020 Financing On May 6, 2020, the Company completed a registered direct offering of securities made pursuant to an agency agreement dated March 17, 2020 between the Company and H.C.Wainwright & Co., LLC (“Wainwright”) that provide for the purchase and sale of 5,514,504 common shares of the Company (the “Common Shares”) at a per share purchase price of US $0.36268 per Common Share and 2,757,252 unregistered Common Share purchase warrants (each, a “Warrant”), resulting in total gross proceeds of $2,000,000 ($1,613,800 net of estimated closing cash costs including cash commission described below). Each Warrant is exercisable to purchase one Common Share (a “Warrant Share”) at an exercise price of US $0.3002 per Common Share for a period of five and one-half (5.5) years following the date of closing of the offering. Pursuant to the placement agency agreement, in addition to the cash commission paid to Wainwright of $140,000, broker warrants were issued to Wainwright which entitle the holder to purchase 386,015 Common Shares at a price of US $0.45335 per share prior to expiry on November 6, 2025. COVID-19 Since December 31, 2019, the outbreak of the novel strain of coronavirus, specifically identified as “COVID-19”, has resulted in governments worldwide enacting emergency measures to combat the spread of the virus. These measures, which include the implementation of travel bans, self-imposed quarantine periods and social distancing, continue to cause material disruption to business globally resulting in an economic slowdown. Global equity markets have experienced significant volatility and weakness. Governments and central banks have reacted with significant monetary and fiscal interventions designed to stabilize economic conditions. The duration and impact of the COVID-19 outbreak is unknown at this time, as is the efficacy of the government and central bank interventions. It is not possible to reliably estimate the length and severity of these developments and the impact on the financial results and condition of the Company in future periods. | 14. SUBSEQUENT EVENTS COVID-19 Since December 31, 2019, the outbreak of the novel strain of coronavirus, specifically identified as “COVID-19”, has resulted in governments worldwide enacting emergency measures to combat the spread of the virus. These measures, which include the implementation of travel bans, self-imposed quarantine periods and social distancing, have caused material disruption to business globally resulting in an economic slowdown. Global equity markets have experienced significant volatility and weakness. Governments and central banks have reacted with significant monetary and fiscal interventions designed to stabilize economic conditions. The duration and impact of the COVID-19 outbreak is unknown at this time, as is the efficacy of the government and central bank interventions. It is not possible to reliably estimate the length and severity of these developments and the impact on the financial results and condition of the Company in future periods. March 2020 Offering On March 25, 2020, the Company entered into definitive agreements with institutional investors that provide for the purchase and sale of 7,000,000 common shares of the Company (the “Common Shares”) at a per share purchase price of $0.17 per Common Share and 3,500,000 Common Share purchase warrants (each, a “Warrant”), resulting in total gross proceeds of approximately $1.2 million (approximately $0.885 million net of closing costs including cash commission described below). Each whole Warrant is exercisable to purchase one Common Share (a “Warrant Share”) at an exercise price of $0.19 per Common Share for a period of five years following the date of closing of the offering. The warrants were valued at $618,100 based on the value determined by the Black-Scholes model and the balance of $571,900 was allocated to common shares. H.C. Wainwright & Co. (“Wainwright”) is acting as the exclusive placement agent for the offering. Pursuant to the placement agency agreement, in addition to the cash commission paid to Wainwright of $83,300, broker warrants were issued to Wainwright which entitle the holder to purchase 490,000 Common Shares at a price of US $0.2125 per share prior to expiry on March 25, 2025. Titan intends to use the net proceeds from the offering for general corporate purposes including: resuming the development of its single-port robotic surgical system, instruments and accessories; funding working capital (including the reduction of outstanding payables); and capital expenditures. December 2019 Aspire Agreement On December 23, 2019, the Company entered into a common share purchase agreement with Aspire Capital whereby Aspire Capital committed to purchase up to $35 million of common shares of Titan at Titan’s request from time to time, until June 23, 2022. Subsequent to the commencement of the Aspire Agreement and subsequent to December 31, 2019, Titan sold Common Shares to Aspire pursuant to the Aspire Agreement as outlined in the following table: Grant Date Common shares Value January 3, 2020 500,000 $ 219,600 January 6, 2020 500,000 229,300 January 8, 2020 400,000 195,160 January 10, 2020 500,000 247,550 January 17, 2020 600,000 303,000 January 23, 2020 600,000 295,320 February 6, 2020 600,000 282,000 February 13, 2020 708,048 300,000 4,408,048 $ 2,071,930 Stock Options On January 28, 2020, the Company issued 25,765 stock options with an exercise price of CDN January Equity Transaction On January 3, 2020, the Company announced that Cambridge Design Partnership Ltd. (“Cambridge”), has subscribed for common shares of the Company. The Company issued 501,148 C S satisfaction of the payable |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Summary Of Significant Accounting Policies [Abstract] | ||
Cash and Cash Equivalents | (a) Cash and Cash Equivalents Cash and cash equivalents include cash balances and amounts on deposit in interest saving accounts with interest rates of less than 1%. | |
Furniture and Equipment | (b) Furniture and Equipment Furniture and equipment are recorded at cost less accumulated amortization and accumulated impairment losses, if any. The Company records amortization using the straight-line method over the estimated useful lives of the capital assets as follow: a) Computer Equipment 3 years b) Furniture and Fixtures 3 - 5 years c) Leasehold Improvements Term of the lease | |
Leases - Right-of-use Assets | ( c Right-of-use In the current year, the Company has applied IFRS 16 Leases (as issued by the IASB effective January 1, 2019). IFRS 16 introduces new or amended requirements with respect to lease accounting. It introduces significant changes to lessee accounting by removing the distinction between operating and finance leases and requiring the recognition of a right-of-use The Company assesses whether a contract is or contains a lease, at inception of a contract. The Company recognizes a right-of-use The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted by using the rate implicit in the lease. If this rate cannot be readily determined, the Company uses a reasonable commercial borrowing rate. For the year ended December 31, 2019, the Company used a 6% discount rate. As at January 1, 2019, the date of initial application of IFRS 16, the Company had no leases with terms greater than 12 months. As such, the Company’s initial application of IFRS 16 is as of November 1, 2019, the date of commencement of its first long-term lease. The Company is not subject to retrospective application of IFRS 16 nor restatement of comparative information. In applying IFRS 16, the Company: a) recognizes right-of-use b) recognizes amortization of right-of-use c) separates the total amount of cash paid into a principal portion (presented within financing activities) and interest (presented within operating activities) in the consolidated statement of cash flows. Lease payments included in the measurement of the lease liability comprise fixed lease payments less any lease incentives (e.g. free rent period). Non-lease non-lease non-lease For short-term low-value | |
Patent Rights | (d) Patent Rights Patent rights are recorded at cost less accumulated amortization and accumulated impairment loss. Straight line amortization is provided over the estimated useful lives of the assets, as prescribed by the granting body, which range up to twenty years. | |
Impairment of Long-Lived Assets | (e) Impairment of Long-Lived Assets The Company reviews computer equipment, furniture and equipment, leasehold improvements, right-of-use assets and patent rights for objective evidence of impairment whenever events or changes in circumstances indicate the carrying amount may not be recoverable. Recoverability is measured by comparison of the asset’s carrying amount to the asset’s recoverable amount, which is the greater of fair value less cost to sell and value in use. Value in use is measured as the expected future discounted cash flows expected to be derived from the asset. If the carrying value exceeds the recoverable amount, the asset is written down to the recoverable amount. The Company’s patent rights were tested for impairment in the current year and no adjustment to carrying value was required . | |
Deferred Income Taxes | (f) Deferred Income Taxes The Company uses the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are determined based on differences between the financial reporting and tax bases of assets and liabilities, unused tax losses and income tax reductions, and are measured using the substantively enacted tax rates and laws that will be in effect when the differences are expected to reverse. A deferred tax asset is recognized for unused tax losses, tax credits and deductible temporary differences, to the extent that it is probable that future taxable profits will be available against which they can be utilized. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. Management has determined not to recognize its net deferred tax assets, as it is not considered probable that future tax benefits will be realized. | |
Foreign Currency | (g) Foreign Currency Transactions in currencies other than U.S. dollars are translated at exchange rates in effect at the date of the transactions. Foreign exchange differences arising on settlement are recognized separately in net and comprehensive loss. Monetary year end balances are converted to U.S. dollars at the rate in effect at that time. Non-monetary items in a currency other than U.S. dollars that are measured in terms of historical cost are translated using the exchange rate at the date of transaction or date of adoption of U.S. functional currency, whichever is later. Foreign exchange gains and losses are included in net and comprehensive loss. | |
Warrant Liability | (a) Warrant Liability Certain of the Company’s warrants have exercise prices that are not fixed and as such in accordance with IAS 32, they must be recorded as a derivative financial liability. This applies both in the case where the Company’s warrants are denominated in a currency (Canadian dollars) other than the Company’s functional currency (U.S. dollars), and when a warrant is issued with a cashless exercise option. In each case, these warrants are initially measured at fair value and subsequent changes in fair value are recorded through Net and Comprehensive Loss for the year. A proportional amount of costs associated with the issue of shares and warrants is allocated to the warrants and recorded through Net and Comprehensive Loss for the year. At each balance sheet date, the Company reviews the classification of each Warrant Liability to determine whether the appropriate classification remains with Liabilities or requires reclassification to Equity. At each balance sheet date, the Warrant Liability of listed warrants is adjusted to fair value measured at the market price of the listed warrants and the Warrant Liability of unlisted warrants is adjusted to fair value using the Black-Scholes model. Prior to March 31, 2019, the Black-Sholes model for the unlisted warrants was determined using a comparable warrant quoted in an active market, adjusted for differences in the terms of the warrant. Since March 31, 2019, it was determined that the comparable warrant was no longer an effective benchmark and the Company began to use the market price and volatility of the Company’s common shares adjusted for differences in the terms of the warrant. | (h) Warrant Liability Certain of the Company’s warrants have exercise prices that are not fixed and as such in accordance with IAS 32, they must be recorded as a derivative financial liability. This applies both in the case where the Company’s warrants are denominated in a currency (Canadian dollars) other than the Company’s functional currency (U.S. dollars), and when a warrant is issued with a cashless exercise option. In each case, these warrants are initially measured at fair value and subsequent changes in fair value are recorded through Net and Comprehensive Loss for the year. A proportional amount of costs associated with the issue of shares and warrants is allocated to the warrants and recorded through Net and Comprehensive Loss for the year. At each balance sheet date, the Company reviews the classification of each Warrant Liability to determine whether the appropriate classification remains with Liabilities or requires reclassification to Equity. At each balance sheet date, the Warrant Liability of listed warrants is adjusted to fair value measured at the market price of the listed warrants and the Warrant Liability of unlisted warrants is adjusted to fair value using the Black-Scholes model. Prior to March 31, 2019, the Black-Sholes model for the unlisted warrants was determined using a comparable warrant quoted in an active market, adjusted for differences in the terms of the warrant. Since March 31, 2019, it was determined that the comparable warrant was no longer an effective benchmark and the Company began to use the market price and volatility of the Company’s common shares adjusted for differences in the terms of the warrant. |
Fair Value Measurement | (b) Fair Value Measurement The accounting guidance for fair value measurements prioritizes the inputs used in measuring fair value into the following hierarchy: Level 1 Quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 – Inputs other than quoted prices included within Level 1 that are directly or indirectly observable; Level 3 – Unobservable inputs in which little or no market activity exists, therefore requiring an entity to develop its own assumptions about the assumptions that market participants would use in pricing. The fair value of the warrant liability relating to listed and unlisted warrants is initially based on Level 2 significant observable inputs and at subsequent dates is adjusted using Level 1 inputs for listed warrants and Level 2 inputs for unlisted warrants. | (i) Fair Value Measurement The accounting guidance for fair value measurements prioritizes the inputs used in measuring fair value into the following hierarchy: Level 1 - Level 2 Level 3 The fair value of the warrant liability relating to listed and unlisted warrants is initially based on Level 2 significant observable inputs and at subsequent dates is adjusted using Level 1 inputs for listed warrants and Level 2 inputs for unlisted warrants. |
Stock Based Compensation | (j) Stock Based Compensation IFRS 2 requires options granted to employees and others providing similar services to be measured at the fair value of goods or services received, unless that fair value cannot be estimated reliably. If the entity cannot estimate reliably the fair value of the goods or services received, the entity shall measure the value and the corresponding increase in equity, indirectly, by reference to the fair value of the equity instruments granted, which the Company does using the Black-Scholes option pricing model. The fair value of the options granted is determined as at the grant date. Stock options granted to non-employees are valued at the fair value of the goods or service received, measured at the date on which the goods are received, or the services rendered. If the entity cannot estimate reliably the fair value of the goods or services received, the entity shall measure the value and the corresponding increase in equity, indirectly, by reference to the fair value of the equity instruments granted, which the Company does using the Black-Scholes option pricing model. The fair value of the options granted is determined as at the grant date. Stock options are issued to vest immediately or when used as a long-term incentive, are commonly issued over a vesting period of up to seven years. The expense related to options with a vesting period are recorded over the vesting period in accordance with the terms of the options. | |
Research and Development Costs | (k) Research and Development Costs Research and development activities undertaken with the prospect of gaining new scientific or technical knowledge and understanding are expensed as incurred. The costs of developing new products are capitalized as deferred development costs, if they meet the development capitalization criteria under IFRS. These criteria include the ability to measure development costs reliably, the product is technically, and commercially feasible, future economic benefits are probable, and the Company intends to and has sufficient resources to complete development and to use or sell the asset. To date, all the research and development costs have been expensed as the criteria for capitalization have not yet been met. | |
Earnings (loss) per Share | (l) Earnings (loss) per Share Basic earnings (loss) per share are calculated using the weighted-average number of common shares outstanding during the year. Diluted earnings (loss) per share considers the dilutive impact of the exercise of outstanding stock options and warrants, as if the events had occurred at the beginning of the period or at a time of issuance, if later. Diluted loss per share has not been presented in the accompanying financial statements, as the effect would be anti-dilutive. | |
Investment Tax Credits | (m) Investment Tax Credits As a result of incurring scientific research and development expenditures, management has estimated that there will be non-refundable non-refundable | |
Financial Instruments | (n) Financial Instruments Financial assets include cash and cash equivalents, and amounts receivable which are measured at amortized cost. Amounts receivable include HST recoverable and other receivables. Financial liabilities include accounts payable and accrued liabilities which are measured at amortized cost. | |
Short term Employee Benefits | (o) Short-term Employee Benefits Short-term employee benefit obligations including Company paid medical, dental and life insurance plans, are measured on an undiscounted basis and are expensed as the related service is provided. | |
Provisions | (p) Provisions A provision is recognized, if as a result of a past event, the Company has a present legal or constructive obligation that can be estimated reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation. | |
Standards, Amendments and Interpretations Not yet Effective | (q) Standards, Amendments and Interpretations not yet Effective There are currently no amendments, revisions and new IFRS standards, which have been issued but not effective until annual periods beginning after December 31, 2019 that are expected to have a material impact on the Company. | |
Adoption of New Accounting Standard | (r) Adoption of New Accounting Standard IFRS 16 Leases, supersedes the requirements in IAS 17, IFRIC-15 and SIC-17. The new standard was effective for annual periods beginning on or after January 1, 2019. As of January 1, 2019, the Company was not party to any leases of greater than 12 months and as such was not required to make any restatements to its financial reports at January 1, 2019. The Company has implemented the new standard beginning with a new lease entered into during the current year. See Significant Accounting Policies (c) Leases – Right-of-use Assets |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Summary Of Significant Accounting Policies [Abstract] | |
Estimated Useful Life of Assets | The Company records amortization using the straight-line method over the estimated useful lives of the capital assets as follow: a) Computer Equipment 3 years b) Furniture and Fixtures 3 - 5 years c) Leasehold Improvements Term of the lease |
Lease Assets (Tables)
Lease Assets (Tables) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Presentation of leases for lessee [abstract] | ||
Summary Of Right of Use Asset | For the three months ended March 31, 2020 Cost Accumulated Amortization Net Book Value Balance at December 31, 2019 $ 34,172 $ (3,778 ) $ 30,394 Additions during the period - - - Amortization in the period - (5,685 ) (5,685 ) Balance at March 31, 2020 $ 34,172 $ (9,463 ) $ 24,709 | For the year ended December 31, 2019 Cost Accumulated Net Book Balance at December 31, 2018 $ — $ — $ — Additions during the year 34,172 — 34,172 Amortization in the year — (3,778 ) (3,778 ) Balance at December 31, 2019 $ 34,172 $ (3,778 ) $ 30,394 |
Patent Rights (Tables)
Patent Rights (Tables) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Patent Rights [Abstract] | ||
Summary of Patent Rights | For the three months ended March 31, 2020 Cost Accumulated Amortization & Impairment Losses Net Book Value Balance at December 31, 2019 $ 1,856,750 $ (255,005 ) $ 1,601,745 Additions during the quarter 56,130 - 56,130 Amortization in the quarter - (8,410 ) (8,410 ) Balance at March 31, 2020 $ 1,912,880 $ (263,415 ) $ 1,649,465 Balance at December 31, 2018 $ 1,398,713 $ (226,228 ) $ 1,172,485 Additions during the quarter 53,758 - 53,758 Amortization in the quarter - (6,175 ) (6,175 ) Balance at March 31, 2019 $ 1,452,471 $ (232,403 ) $ 1,220,068 | For the year ended December 31, 2019 Cost Accumulated Net Book Balance at January 1, 2018 $ 978,126 $ (203,901 ) $ 774,225 Additions during the year 420,587 — 420,587 Amortization in the year — (22,327 ) (22,327 ) Balance at December 31, 2018 $ 1,398,713 $ (226,228 ) $ 1,172,485 Additions during the year 458,037 — 458,037 Amortization in the year — (28,777 ) (28,777 ) Balance at December 31, 2019 $ 1,856,750 $ (255,005 ) $ 1,601,745 |
Warrant Liability (Tables)
Warrant Liability (Tables) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Warrant Liability [Abstract] | ||
Summary of Warrant Liability | Three Months Ended Year Ended March 31, 2020 December 31, 2019 Number of Warrants Amount Number of Warrants Amount Opening Balance 21,203,411 $ 3,621,444 13,901,859 $ 11,250,167 Issue of warrants expiring, March 21, 2024 - - 8,455,882 15,897,059 Issue of warrants expiring, March 27, 2025 3,500,000 475,300 - - Warrants exercised during the period (2,400,000 ) (555,120 ) (1,018,506 ) (3,742,824 ) Warrants expired during the period - - (135,824 ) - Foreign exchange adjustment during the period - (51,091 ) - 17,687 Fair value adjustment during the period - (1,117,476 ) - (19,800,645 ) Ending Balance 22,303,411 $ 2,373,057 21,203,411 $ 3,621,444 | Year Ended Year Ended Number of Amount Number of Amount Opening Balance 13,901,859 $ 11,250,167 4,933,231 $ 17,849,460 Issue of warrants expiring, April 10, 2023 — — 1,295,554 5,212,087 Issue of warrants expiring, August 10, 2023 — — 7,679,574 6,297,251 Issue of warrants expiring, March 21, 2024 8,455,882 15,897,059 — — Warrants exercised during the year (1,018,506 ) (3,742,824 ) (6,500 ) (28,949 ) Warrants expired during the year (135,824 ) — — — Foreign exhange adjustment during the year — 17,687 — (984,462 ) Fair value adjustment during the year — (19,800,645 ) — (17,095,220 ) Ending Balance 21,203,411 $ 3,621,444 13,901,859 $ 11,250,167 |
Share Capital (Tables)
Share Capital (Tables) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Share Capital [Abstract] | ||
Summary of shares sold under share purchase agreement | Between January 3, 2020 and February 13, 2020, the Company issued 4,408,048 common shares pursuant to the Second Aspire Agreement as outlined in the following table: Grant Date Common shares issued Value January 3, 2020 500,000 $ 219,600 January 6, 2020 500,000 229,300 January 8, 2020 400,000 195,160 January 10, 2020 500,000 247,550 January 17, 2020 600,000 303,000 January 23, 2020 600,000 295,320 February 6, 2020 600,000 282,000 February 13, 2020 708,048 300,000 4,408,048 $ 2,071,930 Grant Date Common shares issued Value August 30, 2019 2,417,162 $ 3,000,000 November 8, 2019 100,000 42,560 November 8, 2019 100,000 42,560 November 12, 2019 100,000 42,970 November 12, 2019 100,000 42,000 November 13, 2019 100,000 42,970 November 14, 2019 300,000 128,910 November 15, 2019 2,500,000 1,074,250 November 19, 2019 2,067,282 888,311 7,784,444 $ 5,304,531 | Grant Date Common Value August 30, 2019 2,417,162 $ 3,000,000 November 8, 2019 100,000 42,560 November 8, 2019 100,000 42,560 November 12, 2019 100,000 42,970 November 12, 2019 100,000 42,000 November 13, 2019 100,000 42,970 November 14, 2019 300,000 128,910 November 15, 2019 2,500,000 1,074,250 November 19, 2019 2,067,282 888,311 7,784,444 $ 5,304,531 |
Summary of Weighted Average Inputs Used in the Measurement of Fair Values at the Amendment Date of the Share-Based Option Plan | The weighted average inputs used in the measurement of fair values at the amendment date of the share-based option plan are as follows: May 29, 2019 May 29, 2019 Fair Value calculated CDN $ 0.01 1.40 CDN $ 1.06 2.10 Share price at grant CDN $ 3.47 CDN $ 3.47 Exercise price CDN $ 12.90 51.60 CDN $ 4.54 Expected Volatility 98.6 99.4 98.6 99.4 Expected Option Life 1.0 3.5 1.0 3.5 Expected dividends Nil Nil Risk free interest rate (based on government bonds) 1.48 1.57 1.48 1.57 | |
Summary of Options Outstanding | A summary of the status of the Company’s outstanding stock options as of March 31, 2020 and December 31, 2019 and changes during the periods ended on those dates is presented in the following table: Stock Options – CDN $ denominated Three months ended March 31, 2020 Year Ended December 31, 2019 Number of Stock Options (1) Weighted average Exercise Price (CDN) Number of Stock Options (1) Weighted average Exercise Price (CDN) Balance Beginning 860,379 $ 5.89 875,433 $ 18.20 Granted 25,765 0.66 35,719 4.54 Expired/Forfeited - - (50,773 ) 31.79 Balance Ending 886,144 $ 5.74 860,379 $ 5.89 Stock Options – US $ denominated Three months ended March 31, 2020 Year Ended December 31, 2019 Number of Stock Options Weighted average Exercise Price (USD) Number of Stock Options Weighted average Exercise Price (USD) Balance Beginning 854,042 $ 2.65 50,349 $ 1.55 Granted - - 843,693 2.72 Expired/Forfeited (467,255 ) 2.20 (40,000 ) 3.72 Balance Ending 386,787 $ 3.19 854,042 $ 2.65 1. After giving consideration for 30:1 share consolidation effected June 20, 2018. | A summary of the status of the Company’s outstanding stock options as of December 31, 2019 and December 31, 2018 and changes during the periods ended on those dates is presented in the following table: Stock Options - CDN $ denominated Year ended December 31, 2019 December 31, 2018 Number of Stock Weighted average Number of Weighted average Balance Beginning 875,433 $ 18.20 591,609 $ 21.30 Granted 35,719 4.54 322,517 13.51 Expired/Forfeited (50,773 ) 31.79 (38,693 ) 24.90 Balance Ending 860,379 $ 5.89 875,433 $ 18.20 Stock Options - US $ denominated Year ended December 31, 2019 December 31, 2018 Number of Stock Weighted average USD Number of Weighted average US Balance Beginning 50,349 $ 1.55 — $ — Granted 843,693 2.72 50,349 1.55 Expired/Forfeited (40,000 ) 3.72 — — Balance Ending 854,042 $ 2.65 50,349 $ 1.55 1. After giving consideration for 30:1 share consolidation effected June 20 , |
Summary of Weighted-Average Remaining Contractual Life and Weighted-Average Exercise Price Options Outstanding and Options Exercisable on Exercise Prices | The weighted-average remaining contractual life and weighted-average exercise price of options outstanding and of options exercisable as at March 31, 2020 are as follows: Canadian Dollar Denominated Options Exercise Price (CDN) Number Outstanding Weighted-average remaining contractual life (years) Options Exercisable $0.66 25,765 6.83 25,765 $3.28 31,498 5.42 31,498 $4.50 18,936 3.03 18,936 $4.54 743,122 3.99 370,354 $4.80 3,040 0.46 3,040 $7.49 5,590 5.27 5,590 $9.00 11,481 5.27 11,481 $9.60 1,105 0.52 1,105 $11.70 6,667 0.69 6,667 $12.00 1,948 0.68 1,948 $30.00 28,260 1.40 28,260 $30.60 2,096 0.73 2,096 $32.40 810 0.83 810 $45.30 560 0.36 560 $51.60 5,266 0.19 5,268 886,144 3.96 513,378 US Dollar Denominated Options Exercise Price (USD) Number Outstanding Weighted-average remaining contractual life (years) Options Exercisable $1.55 50,349 1.72 50,349 $2.20 2,165 2.30 2,165 $3.40 294,273 6.12 197,273 $3.72 40,000 2.44 - 386,787 5.14 249,787 Total 1,272,931 4.32 763,165 | The weighted-average remaining contractual life and weighted-average exercise price of options outstanding and of options exercisable as at December 31, 2019 are as follows: Canadian Dollar Denominated Options Exercise Price (CDN) Number Weighted-average Options $3.28 31,498 5.67 31,498 $4.50 18,936 3.28 18,936 $4.54 743,122 6.76 296,807 $4.80 3,040 0.71 3,040 $7.49 5,590 5.52 5,590 $9.00 11,481 5.52 11,481 $9.60 1,105 0.77 1,105 $11.70 6,667 0.94 6,667 $12.00 1,948 0.93 1,948 $30.00 28,260 1.65 28,260 $30.60 2,096 0.98 2,096 $32.40 810 1.08 810 $45.30 560 0.61 560 $51.60 5,266 0.44 5,268 860,379 4.37 414,066 US Dollar Denominated Options Exercise Price Number Weighted-average Options $1.55 50,349 1.97 50,349 $2.20 469,420 6.53 2,165 $3.40 294,273 6.37 197,273 $3.72 40,000 2.69 0 854,042 6.28 249,787 Total 1,714,421 5.32 663,853 |
Summary of Options are Granted to Directors, Officers, Employees and Consultants | Options are granted to Directors, Officers, Employees and Consultants at various times. Options are to be settled by physical delivery of shares. Options and the terms of each issue over the year ended December 31, 2019 are outlined below. Grant date/ Recipient Number of Vesting Conditions Contractual Life February 14, 2019, options granted to a Consultant 40,000 Options may vest over a 15-month Cancelled May 29, 2019, options granted to a Director 253,000 Options vest over a specified vesting period not exceeding 4 years 7 years June 28, 2019, options granted to an Employee 10,000 Options vest as to 1/3 of the total number of Options granted, every year from Grant Date 7 years July 18, 2019, options granted to a Director 25,719 Options vest immediately 7 years July 19, 2019, options granted to an Employee 467,255 Options vest as to 1/4 of the total number of Options granted, every year from Grant Date 7 years July 19, 2019, options granted to a Consultant 2,165 Options vest as to 1/3 of the total number of Options granted, every year from Grant Date 7 years July 19, 2019, options granted to a Director 41,273 Options vest immediately 7 years September 9, 2019, options granted to a Consultant 40,000 Options vest over a 15-month m 2.5 years | |
Summary of Inputs Used in Measurement of Fair Values at Grant Date of Share Based Option Plan | The weighted average inputs in the original currency of the grants (CDN$ or US$) used in the measurement of fair values at grant date of the share-based option grants for the three months ended March 31, 2020 and 2019 are as follows: 2020 - CDN 2019 – US Fair Value calculated CDN $0.43 - Share price at grant CDN $.62 - Exercise price CDN $0.66 - Expected Option Life 3.5 years - Risk free interest rate (based on government bonds) 1.41% - Expected Volatility 109.00% - Expected dividends Nil - | The weighted average inputs (in CDN$ or US$ as per the grant) used in the measurement of fair values at grant date of the share-based option plan are as follows: 2019 2019 2018 Fair Value calculated US $1.48 CDN $1.61 CDN $5.99 Share price at grant US $2.36 CDN $2.90 CDN $10.79 Exercise price US $2.72 CDN $4.54 CDN $11.97 Expected Option Life 3.5 years 3.4 years 3 years Risk free interest rate (based on government bonds) 1.50% 1.43% 1.90% Expected Volatility 97.90% 98.10% 90.12% Expected dividends Nil Nil Nil |
Income taxes (Tables)
Income taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Capital Management | |
Schedule of Reconciliation of Combined Federal and Provincial Corporate Income Taxes | A reconciliation of combined federal and provincial corporate income taxes at the Company’s effective tax rate of 26.5 8 26.5 December 31, 201 9 December 31, 201 8 Net Loss before income taxes $ (41,907,079 ) $ (22,639,272 ) Income taxes at statutory rates $ (11,105,376 ) $ (5,999,407 ) Tax effect of expenses not deductible for income tax purposes: Tax/FX rate changes and other adjustments — — Permanent differences (4,800,780 ) (4,374,564 ) Unrecognized share issue costs (625,220 ) (354,072 ) Tax/foreign currency rate changes and other adjustments 93,724 — Total tax recovery (16,437,652 ) (10,728,043 ) Tax recovery not recognized 16,437,652 10,728,043 $ — $ — |
Schedule of Deferred Income Tax Assets and Liabilities | Deferred income tax assets and liabilities result primarily from December 31, 201 9 December 31, 201 8 Non-Capital $ 63,740,497 $ 47,679,897 Qualifying Research and Development expenditures 1,493,309 1,493,309 Share issue costs and other 1,999,584 1,622,533 Total tax assets 67,233,390 50,795,739 Tax assets not recognized (67,233,390 ) (50,795,739 ) Net deferred tax assets $ — $ — |
Schedule of Non-Capital Losses | The Company has non-capital 240,594,715 non-capital 2027 $ 786,557 2028 169,954 2029 186,708 2030 2,003,594 2031 12,735,836 2032 7,260,729 2033 8,856,497 2034 15,819,741 2035 43,934,918 2036 28,310,254 2037 19,604,159 2038 40,255,192 2039 60,670,576 $ 240,594,715 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Related Party Transactions [Abstract] | ||
Summary of Common Shares Outstanding and Percentage Control of the Company | March 31, 2020 December 31, 2019 Number of Shares % Number of Shares % John Barker 32,714 0.06 32,714 0.08 Stephen Randall 22,993 0.04 22,993 0.06 David McNally 4,167 0.01 4,167 0.01 John Schellhorn 294 0.00 294 0.00 Total 60,168 0.11 60,168 0.15 Common Shares Outstanding 54,216,877 100 % 39,907,681 100 % | December 31, 2019 December 31, 2018 Number of Shares % Number of Shares % John Barker 32,714 0.08 31,714 0.15 Stephen Randall 22,993 0.06 21,643 0.10 David McNally 4,167 0.01 4,167 0.02 John Schellhorn 294 0.00 294 0.00 Bruce Wolff 1 — — 7,610 0.03 Total 60,168 0.15 65,428 0.30 Common Shares Outstanding 39,907,681 100 % 21,675,849 100 % 1: Bruce Wolff retired as a Director effective May 29, 2019 |
Financial Instruments (Tables)
Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Capital Management | |
Summary of Impact on Profit and Equity of a 5 % strengthening of the US Dollar versus the Canadian Dollar | December 31, 2019 Profit of (Loss) 5% strengthening CDN Current assets $ (19,687 ) CDN Accounts payable and accrued liabilities $ 52,228 $ 32,541 December 31, 2018 5% strengthening CDN Current assets $ (10,155 ) CDN Accounts payable and accrued liabilities $ 202,214 $ 192,059 |
Subsequent events (Tables)
Subsequent events (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Events After Reporting Period [Member] | |
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | |
Summary of shares sold under share purchase agreement | Grant Date Common shares Value January 3, 2020 500,000 $ 219,600 January 6, 2020 500,000 229,300 January 8, 2020 400,000 195,160 January 10, 2020 500,000 247,550 January 17, 2020 600,000 303,000 January 23, 2020 600,000 295,320 February 6, 2020 600,000 282,000 February 13, 2020 708,048 300,000 4,408,048 $ 2,071,930 |
Description of business - Addit
Description of business - Additional Information (Detail) - Retained earnings [member] - USD ($) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Statement Line Items [Line Items] | ||
Comprehensive income (loss) | $ 768,043 | $ 41,907,079 |
Shareholders' deficiency | 8,387,237 | $ 11,681,831 |
Working capital deficiency | $ 7,688,354 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of summary of significant accounting policies [abstract] | |
Interest rates | 1.00% |
Discount rate | 6.00% |
Stock options vesting period | 7 years |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Estimated Useful Life of Assets (Detail) | 12 Months Ended |
Dec. 31, 2019 | |
Leasehold Improvements [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives | Term of the lease |
Computer equipment [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives | 3 years |
Bottom of range [member] | Furniture and fixture [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives | 3 years |
Top of range [member] | Furniture and fixture [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives | 5 years |
Lease Assets - Summary Of Right
Lease Assets - Summary Of Right of Use Asset (Details) - USD ($) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | $ 30,394 | |
Additions during the year | 34,172 | |
Amortization in the year | (5,685) | (3,778) |
Ending balance | 24,709 | 30,394 |
Cost [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | 34,172 | |
Additions during the year | 34,172 | |
Amortization in the year | ||
Ending balance | 34,172 | 34,172 |
Accumulated Amortization [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | (3,778) | |
Additions during the year | ||
Amortization in the year | (5,685) | (3,778) |
Ending balance | $ (9,463) | $ (3,778) |
Lease Assets - Additional Infor
Lease Assets - Additional Information (Detail) | Nov. 01, 2019 | Sep. 04, 2019USD ($) | Mar. 31, 2020USD ($) | Mar. 31, 2019USD ($) | Dec. 31, 2019USD ($) | Apr. 01, 2020CAD ($) |
Disclosure of quantitative information about right-of-use assets [line items] | ||||||
Operating lease term | 18 months | |||||
Right of use asset amortisation | $ 5,685 | $ 3,778 | ||||
Interest expenses on lease | 4,464 | 3,340 | ||||
Lease term | 62 months | |||||
Lease rent | $ 8,320 | |||||
Repayment of lease liabilities | $ 3,946 | $ 5,100 | ||||
Events After Reporting Period [Member] | ||||||
Disclosure of quantitative information about right-of-use assets [line items] | ||||||
Right-of-use asset | $ 442,684 | |||||
Lease liability | $ 442,684 |
Patent Rights - Summary of Pate
Patent Rights - Summary of Patent Rights (Detail) - USD ($) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of detailed information about intangible assets [line items] | ||||
Beginning balance | $ 1,601,745 | $ 1,172,485 | $ 1,172,485 | $ 774,225 |
Additions during the year | 56,130 | 53,758 | 458,037 | 420,587 |
Amortization in the year | (8,410) | (6,175) | (28,777) | (22,327) |
Ending balance | 1,649,465 | 1,220,068 | 1,601,745 | 1,172,485 |
Cost [member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Beginning balance | 1,856,750 | 1,398,713 | 1,398,713 | 978,126 |
Additions during the year | 56,130 | 53,758 | 458,037 | 420,587 |
Amortization in the year | 0 | 0 | ||
Ending balance | 1,912,880 | 1,452,471 | 1,856,750 | 1,398,713 |
Accumulated Amortization & Impairment Losses [member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Beginning balance | (255,005) | (226,228) | (226,228) | (203,901) |
Additions during the year | 0 | 0 | ||
Amortization in the year | (8,410) | (6,175) | (28,777) | (22,327) |
Ending balance | $ (263,415) | $ (232,403) | $ (255,005) | $ (226,228) |
Accounts payable and accrued _2
Accounts payable and accrued liabilities - Additional Information (Detail) - USD ($) | Mar. 31, 2020 | Mar. 09, 2020 | Dec. 31, 2019 | Oct. 24, 2019 | Dec. 31, 2018 |
Accrued Expenses And Other Liabilities [Line Items] | |||||
Accounts payable and accrued liabilities | $ 10,184,977 | $ 11,412,896 | $ 6,447,888 | ||
Loss contingency claim value | $ 4,000,000 | $ 5,000,000 | |||
Service Provider [Member] | |||||
Accrued Expenses And Other Liabilities [Line Items] | |||||
Accounts payable and accrued liabilities | 2,889,626 | 2,889,626 | |||
Research And Development Suppliers [Member] | |||||
Accrued Expenses And Other Liabilities [Line Items] | |||||
Accounts payable and accrued liabilities | 9,144,666 | 10,049,622 | |||
Legal And Insurance Service Provider [Member] | |||||
Accrued Expenses And Other Liabilities [Line Items] | |||||
Accounts payable and accrued liabilities | $ 537,535 | $ 560,904 |
Warrant Liability - Summary of
Warrant Liability - Summary of Warrant Liability (Detail) | 3 Months Ended | 12 Months Ended | |||||
Mar. 31, 2020USD ($)shares | Mar. 31, 2020CAD ($)shares | Mar. 31, 2019USD ($)shares | Dec. 31, 2019USD ($)shares | Dec. 31, 2019CAD ($)shares | Dec. 31, 2018USD ($)shares | Dec. 31, 2018CAD ($)shares | |
Disclosure of classes of share capital [line items] | |||||||
Number of Warrants, Opening Balance | shares | 21,203,411 | 21,203,411 | 13,901,859 | 13,901,859 | 13,901,859 | 4,933,231 | 4,933,231 |
Number of Warrants, exercised | shares | (2,400,000) | (2,400,000) | (1,018,506) | (1,018,506) | (6,500) | (6,500) | |
Number of Warrants, expired | shares | (135,824) | (135,824) | |||||
Number of Warrants, Ending Balance | shares | 22,303,411 | 22,303,411 | 21,203,411 | 21,203,411 | 13,901,859 | 13,901,859 | |
Warrant liability, Opening Balance | $ 3,621,444 | $ 11,250,167 | $ 11,250,167 | $ 17,849,460 | |||
Warrant liability, exercised | (555,120) | (3,742,824) | (28,949) | ||||
Warrant liability, expired | 0 | 0 | |||||
Warrant liability, Foreign exhange adjustment during the year | 51,091 | 106,057 | (17,687) | 984,462 | |||
Warrant liability, Fair value adjustment during the year | 1,117,476 | $ (10,476,625) | 19,800,645 | 17,095,220 | |||
Warrant liability, Ending Balance | $ 2,373,057 | $ 3,621,444 | $ 11,250,167 | ||||
Issue of warrants expiring, March 21, 2024 [Member] | |||||||
Disclosure of classes of share capital [line items] | |||||||
Number of Warrants, issued | shares | 8,455,882 | 8,455,882 | |||||
Warrants issued | $ 15,897,059 | ||||||
Issue of warrants expiring, August 10, 2023 [member] | |||||||
Disclosure of classes of share capital [line items] | |||||||
Number of Warrants, expiring | shares | 7,679,574 | 7,679,574 | |||||
Warrant liability, expiring | $ 6,297,251 | ||||||
Issue of warrants expiring, April 10, 2023 [member] | |||||||
Disclosure of classes of share capital [line items] | |||||||
Number of Warrants, expiring | shares | 1,295,554 | 1,295,554 | |||||
Warrant liability, expiring | $ 5,212,087 | ||||||
Issue of warrants expiring, March 27, 2025 [member] | |||||||
Disclosure of classes of share capital [line items] | |||||||
Number of Warrants, issued | shares | 3,500,000 | 3,500,000 | |||||
Warrants issued | $ 475,300 |
Share Capital - Additional Info
Share Capital - Additional Information (Detail) | Jan. 03, 2020USD ($)$ / sharesshares | Aug. 10, 2018USD ($)$ / sharesshares | Aug. 10, 2018CAD ($)shares | May 10, 2018USD ($)$ / sharesshares | May 10, 2018CAD ($)shares | Apr. 10, 2018USD ($)$ / sharesshares | Apr. 10, 2018CAD ($)shares | Mar. 27, 2020USD ($)$ / sharesshares | Mar. 27, 2020CAD ($)shares | Jan. 28, 2020shares$ / shares | Dec. 23, 2019USD ($)shares | Aug. 29, 2019USD ($)$ / sharesshares | Aug. 29, 2019CAD ($) | May 29, 2019USD ($) | May 28, 2019 | Mar. 21, 2019USD ($)$ / sharesshares | Mar. 21, 2019CAD ($)shares | Jun. 19, 2018shares | Mar. 31, 2020USD ($)shares | Mar. 31, 2020CAD ($)shares$ / shares | Mar. 31, 2019USD ($)shares | Dec. 31, 2019USD ($)shares | Dec. 31, 2019CAD ($)shares$ / shares | Dec. 31, 2018USD ($)shares | Mar. 31, 2020$ / sharesshares | Dec. 31, 2019$ / sharesshares | Dec. 31, 2018$ / sharesshares | Dec. 31, 2018$ / sharesshares | Dec. 31, 2017$ / shares | ||
Shares issued | |||||||||||||||||||||||||||||||
Shares issued | shares | 54,216,877 | 39,907,681 | 54,216,877 | 39,907,681 | |||||||||||||||||||||||||||
Number of shares outstanding | shares | 419,888,250 | 54,216,877 | 39,907,681 | 54,216,877 | 39,907,681 | 21,675,849 | 21,675,849 | ||||||||||||||||||||||||
Number of shares outstanding, adjusted | shares | 13,996,275 | ||||||||||||||||||||||||||||||
Reverse stock split ratio | 30 | ||||||||||||||||||||||||||||||
Effective date of reverse stock split | Jun. 20, 2018 | ||||||||||||||||||||||||||||||
Offering price per share | $ / shares | $ 3.40 | ||||||||||||||||||||||||||||||
Amount allocated to common shares | $ 1,011,120 | $ 7,002,043 | $ 7,002,043 | $ 59,998 | |||||||||||||||||||||||||||
Warrant exercised | shares | 2,400,000 | 1,018,506 | 2,400,000 | 1,018,506 | 6,500 | 6,500 | |||||||||||||||||||||||||
Proceeds from warrant exercised | $ 38,000 | ||||||||||||||||||||||||||||||
Number of common shares available for issue under stock option plan | shares | 6,859,600 | 6,859,600 | 5,986,152 | 5,986,152 | 1,241,803 | ||||||||||||||||||||||||||
Weighted average exercise price of options exercisable | $ / shares | $ 7.35 | ||||||||||||||||||||||||||||||
Stock based compensation | $ 228,576 | 251,357 | $ 1,651,119 | $ 1,505,625 | |||||||||||||||||||||||||||
Contractual Life | 5 years 3 months 25 days | 5 years 3 months 25 days | |||||||||||||||||||||||||||||
Stock issuance costs | $ 214,263 | $ 1,495,501 | $ 2,090,124 | $ 1,297,668 | |||||||||||||||||||||||||||
Director [Member] | |||||||||||||||||||||||||||||||
Shares issued | |||||||||||||||||||||||||||||||
Options issued | shares | 25,765 | ||||||||||||||||||||||||||||||
Exercise prices/option | $ / shares | $ 0.657 | ||||||||||||||||||||||||||||||
Contractual Life | 7 years | ||||||||||||||||||||||||||||||
US Dollar [Member] | |||||||||||||||||||||||||||||||
Shares issued | |||||||||||||||||||||||||||||||
Weighted average exercise price of options outstanding | $ / shares | $ 3.19 | $ 2.65 | $ 1.55 | ||||||||||||||||||||||||||||
Weighted average exercise price of options exercisable | $ / shares | $ 3.02 | ||||||||||||||||||||||||||||||
Options issued | shares | [1] | [1] | 843,693 | 843,693 | 50,349 | ||||||||||||||||||||||||||
Contractual Life | 4 years 3 months 26 days | 4 years 3 months 26 days | 6 years 3 months 10 days | 6 years 3 months 10 days | |||||||||||||||||||||||||||
Canadian Dollar [Member] | |||||||||||||||||||||||||||||||
Shares issued | |||||||||||||||||||||||||||||||
Weighted average exercise price of options outstanding | $ / shares | $ 5.74 | $ 5.89 | $ 18.20 | $ 21.30 | |||||||||||||||||||||||||||
Weighted average exercise price of options exercisable | $ / shares | $ 6.61 | ||||||||||||||||||||||||||||||
Options issued | shares | 25,765 | [1] | 25,765 | [1] | 35,719 | 35,719 | 322,517 | ||||||||||||||||||||||||
Contractual Life | 3 years 11 months 15 days | 3 years 11 months 15 days | 4 years 4 months 13 days | 4 years 4 months 13 days | |||||||||||||||||||||||||||
Warrants expiring between April 10, 2020 and March 21, 2021 [Member] | |||||||||||||||||||||||||||||||
Shares issued | |||||||||||||||||||||||||||||||
Broker Warrants issued and outstanding | shares | 1,219,276 | 1,219,276 | |||||||||||||||||||||||||||||
Warrants expiring between March 16, 2019 and August 10, 2020 [Member] | |||||||||||||||||||||||||||||||
Shares issued | |||||||||||||||||||||||||||||||
Broker Warrants issued and outstanding | shares | 786,183 | 786,183 | |||||||||||||||||||||||||||||
Warrants expiring between April 10, 2020 and March 27, 2025 [Member] | |||||||||||||||||||||||||||||||
Shares issued | |||||||||||||||||||||||||||||||
Broker Warrants issued and outstanding | shares | 1,709,276 | 1,219,276 | 1,709,276 | 1,219,276 | |||||||||||||||||||||||||||
Aspire Agreement [Member] | |||||||||||||||||||||||||||||||
Shares issued | |||||||||||||||||||||||||||||||
Gross proceeds from offerings | $ 3,000,000 | $ 3,000,000 | |||||||||||||||||||||||||||||
Stock issuance costs | $ 417,113 | $ 417,113 | |||||||||||||||||||||||||||||
Before Amendment [Member] | |||||||||||||||||||||||||||||||
Shares issued | |||||||||||||||||||||||||||||||
Percentage of common shares reserved for issuance | 10.00% | ||||||||||||||||||||||||||||||
After Amendment [Member] | |||||||||||||||||||||||||||||||
Shares issued | |||||||||||||||||||||||||||||||
Percentage of common shares reserved for issuance | 15.00% | 15.00% | 15.00% | ||||||||||||||||||||||||||||
Amendment [Member] | |||||||||||||||||||||||||||||||
Shares issued | |||||||||||||||||||||||||||||||
Stock based compensation | 292,184 | ||||||||||||||||||||||||||||||
Incremental stock based compensation | $ 475,622 | ||||||||||||||||||||||||||||||
Over Allotment Option 1 [member] | |||||||||||||||||||||||||||||||
Shares issued | |||||||||||||||||||||||||||||||
Warrant exercised | shares | 1,018,506 | ||||||||||||||||||||||||||||||
Proceeds from warrant exercised | $ 3,259,219 | ||||||||||||||||||||||||||||||
Amount reclassed from warrant liability to common stock | $ 3,742,824 | ||||||||||||||||||||||||||||||
Bloom Burton Securities Inc [member] | |||||||||||||||||||||||||||||||
Shares issued | |||||||||||||||||||||||||||||||
Sale of offering units | shares | 7,679,574 | 7,679,574 | 1,126,664 | 1,126,664 | 8,455,882 | 8,455,882 | |||||||||||||||||||||||||
Offering price per share | $ / shares | $ 2.50 | $ 9 | $ 9 | $ 3.40 | |||||||||||||||||||||||||||
Gross proceeds from offerings | $ 19,198,935 | $ 8,035,941 | $ 28,750,000 | ||||||||||||||||||||||||||||
Cash commissions | $ 1,343,925 | $ 76,988 | $ 562,516 | $ 2,012,500 | |||||||||||||||||||||||||||
Net proceeds from offering | $ 17,464,711 | $ 7,211,320 | $ 25,426,744 | ||||||||||||||||||||||||||||
Exercise price per share | $ / shares | $ 3.20 | $ 10.50 | $ 10.50 | $ 4 | |||||||||||||||||||||||||||
Fair value of warrants | $ 6,297,251 | $ 658,387 | $ 4,553,700 | $ 15,897,059 | |||||||||||||||||||||||||||
Amount allocated to common shares | $ 12,901,684 | $ 531,469 | $ 3,482,241 | $ 12,852,941 | |||||||||||||||||||||||||||
Warrants expiration period | Aug. 10, 2023 | Aug. 10, 2023 | Apr. 10, 2023 | Apr. 10, 2023 | Apr. 10, 2023 | Apr. 10, 2023 | Mar. 21, 2024 | Mar. 21, 2024 | |||||||||||||||||||||||
Sale of offering additional units | shares | 168,888 | 168,888 | |||||||||||||||||||||||||||||
Gross proceeds from additional offerings | $ 1,189,856 | ||||||||||||||||||||||||||||||
Net proceeds from additional offering | $ 1,100,238 | ||||||||||||||||||||||||||||||
Bloom Burton Securities Inc [member] | Over Allotment Option 1 [member] | |||||||||||||||||||||||||||||||
Shares issued | |||||||||||||||||||||||||||||||
Fair value of warrants | $ 864,190 | ||||||||||||||||||||||||||||||
Warrants expiration period | Aug. 10, 2020 | Aug. 10, 2020 | Apr. 10, 2020 | Apr. 10, 2020 | Apr. 10, 2020 | Apr. 10, 2020 | Mar. 21, 2021 | Mar. 21, 2021 | |||||||||||||||||||||||
Broker warrants to purchase common stock | shares | 537,570 | 537,570 | 10,928 | 10,928 | 78,867 | 78,867 | 591,911 | 591,911 | |||||||||||||||||||||||
Common stock price per share | $ / shares | $ 2.50 | $ 9 | $ 9 | $ 3.40 | |||||||||||||||||||||||||||
Aspire Capital Fund LLC [Member] | Aspire Agreement [Member] | |||||||||||||||||||||||||||||||
Shares issued | |||||||||||||||||||||||||||||||
Shares issued | shares | 973,000 | 1,777,325 | 7,784,444 | 7,784,444 | 7,784,444 | 7,784,444 | |||||||||||||||||||||||||
Offering price per share | $ / shares | $ 1.6879 | ||||||||||||||||||||||||||||||
Gross proceeds from offerings | $ 3,000,000 | ||||||||||||||||||||||||||||||
Capital Issued Commitments | $ 35,000,000 | $ 35,000,000 | |||||||||||||||||||||||||||||
Percentage Of Shares Outstanding | 5.30% | ||||||||||||||||||||||||||||||
Common stock shares issued value | 423,440 | $ 5,304,531 | $ 5,304,531 | ||||||||||||||||||||||||||||
Stock issuance costs | $ 35,122 | ||||||||||||||||||||||||||||||
Aspire Capital Fund LLC [Member] | Aspire Agreement [Member] | Additional Commitment [Member] | |||||||||||||||||||||||||||||||
Shares issued | |||||||||||||||||||||||||||||||
Shares issued | shares | 639,837 | ||||||||||||||||||||||||||||||
Percentage Of Shares Outstanding | 1.90% | ||||||||||||||||||||||||||||||
Northland Securities Inc [Member] | Aspire Agreement [Member] | |||||||||||||||||||||||||||||||
Shares issued | |||||||||||||||||||||||||||||||
Cash commissions | $ 160,000 | ||||||||||||||||||||||||||||||
H.C.Wainwright and Co. LLC [Member] | |||||||||||||||||||||||||||||||
Shares issued | |||||||||||||||||||||||||||||||
Sale of offering units | shares | 7,000,000 | 7,000,000 | |||||||||||||||||||||||||||||
Offering price per share | $ / shares | $ 0.17 | ||||||||||||||||||||||||||||||
Gross proceeds from offerings | $ 1,190,000 | ||||||||||||||||||||||||||||||
Cash commissions | $ 862,294 | ||||||||||||||||||||||||||||||
Exercise price per share | $ / shares | $ 0.19 | ||||||||||||||||||||||||||||||
Fair value of warrants | $ 475,300 | ||||||||||||||||||||||||||||||
Amount allocated to common shares | $ 714,700 | ||||||||||||||||||||||||||||||
Warrants to purchase of common stock | shares | 3,500,000 | 3,500,000 | |||||||||||||||||||||||||||||
H.C.Wainwright and Co. LLC [Member] | Over Allotment Option 1 [member] | |||||||||||||||||||||||||||||||
Shares issued | |||||||||||||||||||||||||||||||
Cash commissions | $ 83,300 | ||||||||||||||||||||||||||||||
Fair value of warrants | $ 65,600 | ||||||||||||||||||||||||||||||
Warrants expiration period | Mar. 27, 2025 | Mar. 27, 2025 | |||||||||||||||||||||||||||||
Broker warrants to purchase common stock | shares | 490,000 | 490,000 | |||||||||||||||||||||||||||||
Common stock price per share | $ / shares | $ 0.2125 | ||||||||||||||||||||||||||||||
Cambridge Design Partnership Ltd [Member] | |||||||||||||||||||||||||||||||
Shares issued | |||||||||||||||||||||||||||||||
Shares issued | shares | 501,148 | ||||||||||||||||||||||||||||||
Offering price per share | $ / shares | $ 0.50 | ||||||||||||||||||||||||||||||
Common stock shares issued value | $ 250,574 | ||||||||||||||||||||||||||||||
[1] | After giving consideration for 30:1 share consolidation effected June 20, 2018. |
Share Capital - Disclosure Of S
Share Capital - Disclosure Of Shares Sold Pursuant To Share Purchase Agreement (Details) - USD ($) | 1 Months Ended | 3 Months Ended | 12 Months Ended | |
Dec. 23, 2019 | Mar. 31, 2020 | Dec. 31, 2019 | Aug. 29, 2019 | |
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | ||||
Common shares issued | 54,216,877 | 39,907,681 | ||
Aspire Capital Fund LLC [Member] | Aspire Agreement [Member] | ||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | ||||
Common shares issued | 973,000 | 7,784,444 | 7,784,444 | 1,777,325 |
Value | $ 423,440 | $ 5,304,531 | $ 5,304,531 | |
Aspire Capital Fund LLC [Member] | Second Aspire Agreement [Member] | ||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | ||||
Common shares issued | 4,408,048 | |||
Value | $ 2,071,930 | |||
November 8, 2019, One [Member] | Aspire Capital Fund LLC [Member] | Aspire Agreement [Member] | ||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | ||||
Common shares issued | 100,000 | 100,000 | ||
Value | $ 42,560 | $ 42,560 | ||
November 8, 2019,Two [Member] | Aspire Capital Fund LLC [Member] | Aspire Agreement [Member] | ||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | ||||
Common shares issued | 100,000 | 100,000 | ||
Value | $ 42,560 | $ 42,560 | ||
November 12, 2019, One [Member] | Aspire Capital Fund LLC [Member] | Aspire Agreement [Member] | ||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | ||||
Common shares issued | 100,000 | 100,000 | ||
Value | $ 42,970 | $ 42,970 | ||
November 12, 2019,Two [Member] | Aspire Capital Fund LLC [Member] | Aspire Agreement [Member] | ||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | ||||
Common shares issued | 100,000 | 100,000 | ||
Value | $ 42,000 | $ 42,000 | ||
November 13, 2019 [Member] | Aspire Capital Fund LLC [Member] | Aspire Agreement [Member] | ||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | ||||
Common shares issued | 100,000 | 100,000 | ||
Value | $ 42,970 | $ 42,970 | ||
November 14, 2019 [Member] | Aspire Capital Fund LLC [Member] | Aspire Agreement [Member] | ||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | ||||
Common shares issued | 300,000 | 300,000 | ||
Value | $ 128,910 | $ 128,910 | ||
November 15, 2019 [Member] | Aspire Capital Fund LLC [Member] | Aspire Agreement [Member] | ||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | ||||
Common shares issued | 2,500,000 | 2,500,000 | ||
Value | $ 1,074,250 | $ 1,074,250 | ||
November 19, 2019 [Member] | Aspire Capital Fund LLC [Member] | Aspire Agreement [Member] | ||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | ||||
Common shares issued | 2,067,282 | 2,067,282 | ||
Value | $ 888,311 | $ 888,311 | ||
August 30, 2019 [Member] | Aspire Capital Fund LLC [Member] | Aspire Agreement [Member] | ||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | ||||
Common shares issued | 2,417,162 | 2,417,162 | ||
Value | $ 3,000,000 | $ 3,000,000 | ||
January 3, 2020 [Member] | Aspire Capital Fund LLC [Member] | Second Aspire Agreement [Member] | ||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | ||||
Common shares issued | 500,000 | |||
Value | $ 219,600 | |||
January 6, 2020 [Member] | Aspire Capital Fund LLC [Member] | Second Aspire Agreement [Member] | ||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | ||||
Common shares issued | 500,000 | |||
Value | $ 229,300 | |||
January 8, 2020 [Member] | Aspire Capital Fund LLC [Member] | Second Aspire Agreement [Member] | ||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | ||||
Common shares issued | 400,000 | |||
Value | $ 195,160 | |||
January 10, 2020 [Member] | Aspire Capital Fund LLC [Member] | Second Aspire Agreement [Member] | ||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | ||||
Common shares issued | 500,000 | |||
Value | $ 247,550 | |||
January 17, 2020 [Member] | Aspire Capital Fund LLC [Member] | Second Aspire Agreement [Member] | ||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | ||||
Common shares issued | 600,000 | |||
Value | $ 303,000 | |||
January 23, 2020 [Member] | Aspire Capital Fund LLC [Member] | Second Aspire Agreement [Member] | ||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | ||||
Common shares issued | 600,000 | |||
Value | $ 295,320 | |||
February 6, 2020 [Member] | Aspire Capital Fund LLC [Member] | Second Aspire Agreement [Member] | ||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | ||||
Common shares issued | 600,000 | |||
Value | $ 282,000 | |||
February 13, 2020 [Member] | Aspire Capital Fund LLC [Member] | Second Aspire Agreement [Member] | ||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | ||||
Common shares issued | 708,048 | |||
Value | $ 300,000 |
Share Capital - Summary of fair
Share Capital - Summary of fair values at the amendment date of the share-based option plan (Detail) | 1 Months Ended | 12 Months Ended | |
May 29, 2019yr$ / shares | Dec. 31, 2019CAD ($)yr | Dec. 31, 2018CAD ($) | |
Disclosure of fair value measurement of equity [line items] | |||
Expected Option Life | yr | 3.5 | ||
Before Amendment [Member] | |||
Disclosure of fair value measurement of equity [line items] | |||
Share price at grant | $ 3.47 | ||
Expected dividends | $ | |||
After Amendment [Member] | |||
Disclosure of fair value measurement of equity [line items] | |||
Share price at grant | 3.47 | ||
Exercise price | 4.54 | ||
Expected dividends | $ | |||
Bottom of range [member] | Before Amendment [Member] | |||
Disclosure of fair value measurement of equity [line items] | |||
Fair Value calculated | 0.01 | ||
Exercise price | $ 12.90 | ||
Expected Volatility | 98.60% | ||
Expected Option Life | yr | 1 | ||
Risk free interest rate (based on government bonds) | 1.48% | ||
Bottom of range [member] | After Amendment [Member] | |||
Disclosure of fair value measurement of equity [line items] | |||
Fair Value calculated | $ 1.06 | ||
Expected Volatility | 98.60% | ||
Expected Option Life | yr | 1 | ||
Risk free interest rate (based on government bonds) | 1.48% | ||
Top of range [member] | Before Amendment [Member] | |||
Disclosure of fair value measurement of equity [line items] | |||
Fair Value calculated | $ 1.40 | ||
Exercise price | $ 51.60 | ||
Expected Volatility | 99.40% | ||
Expected Option Life | yr | 3.5 | ||
Risk free interest rate (based on government bonds) | 1.57% | ||
Top of range [member] | After Amendment [Member] | |||
Disclosure of fair value measurement of equity [line items] | |||
Fair Value calculated | $ 2.10 | ||
Expected Volatility | 99.40% | ||
Expected Option Life | yr | 3.5 | ||
Risk free interest rate (based on government bonds) | 1.57% |
Share Capital - Summary of Opti
Share Capital - Summary of Options Outstanding (Detail) | 3 Months Ended | 12 Months Ended | ||||||||
Mar. 31, 2020shares$ / shares | Mar. 31, 2020shares$ / shares | Dec. 31, 2019shares$ / shares | Dec. 31, 2019shares$ / shares | Dec. 31, 2018shares$ / shares | Dec. 31, 2018shares$ / shares | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
Number of Stock Options, Balance Beginning | 1,714,421 | 1,714,421 | ||||||||
Number of Stock Options, Balance Ending | 1,272,931 | 1,272,931 | 1,714,421 | 1,714,421 | ||||||
US Dollar [Member] | ||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
Number of Stock Options, Balance Beginning | 854,042 | [1] | 854,042 | [1] | 50,349 | 50,349 | ||||
Number of Stock Options, Granted | [1] | [1] | 843,693 | 843,693 | 50,349 | 50,349 | ||||
Number of Stock Options, Expired/Forfeited | (467,255) | [1] | (467,255) | [1] | (40,000) | (40,000) | ||||
Number of Stock Options, Balance Ending | 386,787 | [1] | 386,787 | [1] | 854,042 | [1] | 854,042 | [1] | 50,349 | 50,349 |
Weighted-average Exercise Price, Balance Beginning | $ / shares | $ 2.65 | $ 1.55 | ||||||||
Weighted-average Exercise Price, Granted | $ / shares | 2.72 | $ 1.55 | ||||||||
Weighted-average Exercise Price, Expired/Forfeited | $ / shares | 2.20 | 3.72 | ||||||||
Weighted-average Exercise Price, Balance Ending | $ / shares | $ 3.19 | $ 2.65 | $ 1.55 | |||||||
Canadian Dollar [Member] | ||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
Number of Stock Options, Balance Beginning | 860,379 | [1] | 860,379 | [1] | 875,433 | 875,433 | 591,609 | 591,609 | ||
Number of Stock Options, Granted | 25,765 | [1] | 25,765 | [1] | 35,719 | 35,719 | 322,517 | 322,517 | ||
Number of Stock Options, Expired/Forfeited | [1] | [1] | (50,773) | (50,773) | (38,693) | (38,693) | ||||
Number of Stock Options, Balance Ending | 886,144 | [1] | 886,144 | [1] | 860,379 | [1] | 860,379 | [1] | 875,433 | 875,433 |
Weighted-average Exercise Price, Balance Beginning | $ / shares | $ 5.89 | $ 18.20 | $ 21.30 | |||||||
Weighted-average Exercise Price, Granted | $ / shares | 0.66 | 4.54 | 13.51 | |||||||
Weighted-average Exercise Price, Expired/Forfeited | (per share) | 31.79 | 24.90 | ||||||||
Weighted-average Exercise Price, Balance Ending | $ / shares | $ 5.74 | $ 5.89 | $ 18.20 | |||||||
[1] | After giving consideration for 30:1 share consolidation effected June 20, 2018. |
Share Capital - Summary of Weig
Share Capital - Summary of Weighted-Average Remaining Contractual Life and Weighted-Average Exercise Price Options Outstanding and Options Exercisable on Exercise Prices (Detail) | 3 Months Ended | 12 Months Ended | ||||||||
Mar. 31, 2020shares$ / shares | Dec. 31, 2019shares$ / shares | Mar. 31, 2020shares$ / shares | Dec. 31, 2019shares$ / shares | Dec. 31, 2018shares | Dec. 31, 2017shares | |||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||||||
Options Outstanding, Number Outstanding | 1,272,931 | 1,714,421 | 1,272,931 | 1,714,421 | ||||||
Weighted average remaining contractual life of outstanding share options | 5 years 3 months 25 days | |||||||||
Options Outstanding, Options Exercisable | 663,853 | 663,853 | ||||||||
Canadian Dollar [Member] | ||||||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||||||
Options Outstanding, Number Outstanding | 886,144 | [1] | 860,379 | [1] | 886,144 | [1] | 860,379 | [1] | 875,433 | 591,609 |
Weighted average remaining contractual life of outstanding share options | 3 years 11 months 15 days | 4 years 4 months 13 days | ||||||||
Options Outstanding, Options Exercisable | 513,378 | 414,066 | 513,378 | 414,066 | ||||||
Canadian Dollar [Member] | $11.70 [member] | ||||||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||||||
Exercise prices/option | $ / shares | $ 9.60 | $ 11.70 | ||||||||
Options Outstanding, Number Outstanding | 1,105 | 6,667 | 1,105 | 6,667 | ||||||
Weighted average remaining contractual life of outstanding share options | 6 months 7 days | 11 months 8 days | ||||||||
Options Outstanding, Options Exercisable | 1,105 | 6,667 | 1,105 | 6,667 | ||||||
Canadian Dollar [Member] | $3.28 [member] | ||||||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||||||
Exercise prices/option | $ / shares | $ 0.66 | $ 3.28 | ||||||||
Options Outstanding, Number Outstanding | 25,765 | 31,498 | 25,765 | 31,498 | ||||||
Weighted average remaining contractual life of outstanding share options | 6 years 9 months 29 days | 5 years 8 months 1 day | ||||||||
Options Outstanding, Options Exercisable | 25,765 | 31,498 | 25,765 | 31,498 | ||||||
Canadian Dollar [Member] | $4.50 [member] | ||||||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||||||
Exercise prices/option | $ / shares | $ 3.28 | $ 4.50 | ||||||||
Options Outstanding, Number Outstanding | 31,498 | 18,936 | 31,498 | 18,936 | ||||||
Weighted average remaining contractual life of outstanding share options | 5 years 5 months 1 day | 3 years 3 months 10 days | ||||||||
Options Outstanding, Options Exercisable | 31,498 | 18,936 | 31,498 | 18,936 | ||||||
Canadian Dollar [Member] | $4.54 [member] | ||||||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||||||
Exercise prices/option | $ / shares | $ 4.50 | $ 4.54 | ||||||||
Options Outstanding, Number Outstanding | 18,936 | 743,122 | 18,936 | 743,122 | ||||||
Weighted average remaining contractual life of outstanding share options | 3 years 11 days | 6 years 9 months 3 days | ||||||||
Options Outstanding, Options Exercisable | 18,936 | 296,807 | 18,936 | 296,807 | ||||||
Canadian Dollar [Member] | $4.80 [member] | ||||||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||||||
Exercise prices/option | $ / shares | $ 4.54 | $ 4.80 | ||||||||
Options Outstanding, Number Outstanding | 743,122 | 3,040 | 743,122 | 3,040 | ||||||
Weighted average remaining contractual life of outstanding share options | 3 years 11 months 26 days | 8 months 15 days | ||||||||
Options Outstanding, Options Exercisable | 370,354 | 3,040 | 370,354 | 3,040 | ||||||
Canadian Dollar [Member] | $7.49 [member] | ||||||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||||||
Exercise prices/option | $ / shares | $ 4.80 | $ 7.49 | ||||||||
Options Outstanding, Number Outstanding | 3,040 | 5,590 | 3,040 | 5,590 | ||||||
Weighted average remaining contractual life of outstanding share options | 5 months 16 days | 5 years 6 months 7 days | ||||||||
Options Outstanding, Options Exercisable | 3,040 | 5,590 | 3,040 | 5,590 | ||||||
Canadian Dollar [Member] | $9.00 [member] | ||||||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||||||
Exercise prices/option | $ / shares | $ 7.49 | $ 9 | ||||||||
Options Outstanding, Number Outstanding | 5,590 | 11,481 | 5,590 | 11,481 | ||||||
Weighted average remaining contractual life of outstanding share options | 5 years 3 months 8 days | 5 years 6 months 7 days | ||||||||
Options Outstanding, Options Exercisable | 5,590 | 11,481 | 5,590 | 11,481 | ||||||
Canadian Dollar [Member] | $9.60 [member] | ||||||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||||||
Exercise prices/option | $ / shares | $ 9 | $ 9.60 | ||||||||
Options Outstanding, Number Outstanding | 11,481 | 1,105 | 11,481 | 1,105 | ||||||
Weighted average remaining contractual life of outstanding share options | 5 years 3 months 8 days | 9 months 7 days | ||||||||
Options Outstanding, Options Exercisable | 11,481 | 1,105 | 11,481 | 1,105 | ||||||
Canadian Dollar [Member] | $12.00 [member] | ||||||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||||||
Exercise prices/option | $ / shares | $ 11.70 | $ 12 | ||||||||
Options Outstanding, Number Outstanding | 6,667 | 1,948 | 6,667 | 1,948 | ||||||
Weighted average remaining contractual life of outstanding share options | 8 months 9 days | 11 months 4 days | ||||||||
Options Outstanding, Options Exercisable | 6,667 | 1,948 | 6,667 | 1,948 | ||||||
Canadian Dollar [Member] | $30.00 [member] | ||||||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||||||
Exercise prices/option | $ / shares | $ 12 | $ 30 | ||||||||
Options Outstanding, Number Outstanding | 1,948 | 28,260 | 1,948 | 28,260 | ||||||
Weighted average remaining contractual life of outstanding share options | 8 months 5 days | 1 year 7 months 24 days | ||||||||
Options Outstanding, Options Exercisable | 1,948 | 28,260 | 1,948 | 28,260 | ||||||
Canadian Dollar [Member] | $30.60 [member] | ||||||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||||||
Exercise prices/option | $ / shares | $ 30 | $ 30.60 | ||||||||
Options Outstanding, Number Outstanding | 28,260 | 2,096 | 28,260 | 2,096 | ||||||
Weighted average remaining contractual life of outstanding share options | 1 year 4 months 24 days | 11 months 23 days | ||||||||
Options Outstanding, Options Exercisable | 28,260 | 2,096 | 28,260 | 2,096 | ||||||
Canadian Dollar [Member] | $32.40 [member] | ||||||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||||||
Exercise prices/option | $ / shares | $ 30.60 | $ 32.40 | ||||||||
Options Outstanding, Number Outstanding | 2,096 | 810 | 2,096 | 810 | ||||||
Weighted average remaining contractual life of outstanding share options | 8 months 23 days | 1 year 29 days | ||||||||
Options Outstanding, Options Exercisable | 2,096 | 810 | 2,096 | 810 | ||||||
Canadian Dollar [Member] | $45.30 [member] | ||||||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||||||
Exercise prices/option | $ / shares | $ 32.40 | $ 45.30 | ||||||||
Options Outstanding, Number Outstanding | 810 | 560 | 810 | 560 | ||||||
Weighted average remaining contractual life of outstanding share options | 9 months 29 days | 7 months 9 days | ||||||||
Options Outstanding, Options Exercisable | 810 | 560 | 810 | 560 | ||||||
Canadian Dollar [Member] | $51.60 [member] | ||||||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||||||
Exercise prices/option | $ / shares | $ 45.30 | $ 51.60 | ||||||||
Options Outstanding, Number Outstanding | 560 | 5,266 | 560 | 5,266 | ||||||
Weighted average remaining contractual life of outstanding share options | 4 months 9 days | 5 months 8 days | ||||||||
Options Outstanding, Options Exercisable | 560 | 5,268 | 560 | 5,268 | ||||||
Canadian Dollar [Member] | $1.55 [member] | ||||||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||||||
Exercise prices/option | $ / shares | $ 51.60 | |||||||||
Options Outstanding, Number Outstanding | 5,266 | 5,266 | ||||||||
Weighted average remaining contractual life of outstanding share options | 2 months 8 days | |||||||||
Options Outstanding, Options Exercisable | 5,268 | 5,268 | ||||||||
US Dollar [Member] | ||||||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||||||
Options Outstanding, Number Outstanding | 386,787 | [1] | 854,042 | [1] | 386,787 | [1] | 854,042 | [1] | 50,349 | |
Weighted average remaining contractual life of outstanding share options | 4 years 3 months 26 days | 6 years 3 months 10 days | ||||||||
Options Outstanding, Options Exercisable | 763,165 | 249,787 | 763,165 | 249,787 | ||||||
US Dollar [Member] | $3.72 [member] | ||||||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||||||
Exercise prices/option | $ / shares | $ 3.40 | $ 3.72 | ||||||||
Options Outstanding, Number Outstanding | 294,273 | 40,000 | 294,273 | 40,000 | ||||||
Weighted average remaining contractual life of outstanding share options | 6 years 1 month 13 days | 2 years 8 months 8 days | ||||||||
Options Outstanding, Options Exercisable | 197,273 | 0 | 197,273 | 0 | ||||||
US Dollar [Member] | $1.55 [member] | ||||||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||||||
Exercise prices/option | $ / shares | $ 1.55 | |||||||||
Options Outstanding, Number Outstanding | 50,349 | 50,349 | ||||||||
Weighted average remaining contractual life of outstanding share options | 1 year 11 months 19 days | |||||||||
Options Outstanding, Options Exercisable | 50,349 | 50,349 | ||||||||
US Dollar [Member] | $2.20 [member] | ||||||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||||||
Exercise prices/option | $ / shares | $ 1.55 | $ 2.20 | ||||||||
Options Outstanding, Number Outstanding | 50,349 | 469,420 | 50,349 | 469,420 | ||||||
Weighted average remaining contractual life of outstanding share options | 1 year 8 months 19 days | 6 years 6 months 10 days | ||||||||
Options Outstanding, Options Exercisable | 50,349 | 2,165 | 50,349 | 2,165 | ||||||
US Dollar [Member] | $3.40 [member] | ||||||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||||||
Exercise prices/option | $ / shares | $ 2.20 | $ 3.40 | ||||||||
Options Outstanding, Number Outstanding | 2,165 | 294,273 | 2,165 | 294,273 | ||||||
Weighted average remaining contractual life of outstanding share options | 2 years 3 months 19 days | 6 years 4 months 13 days | ||||||||
Options Outstanding, Options Exercisable | 2,165 | 197,273 | 2,165 | 197,273 | ||||||
US Dollar [Member] | $3.72 [Member] | ||||||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||||||
Exercise prices/option | $ / shares | $ 3.72 | |||||||||
Options Outstanding, Number Outstanding | 40,000 | 40,000 | ||||||||
Weighted average remaining contractual life of outstanding share options | 2 years 5 months 9 days | |||||||||
Options Outstanding, Options Exercisable | ||||||||||
US Dollar [Member] | Exercise Price [Member] | ||||||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||||||
Options Outstanding, Number Outstanding | 386,787 | 386,787 | ||||||||
Weighted average remaining contractual life of outstanding share options | 5 years 1 month 20 days | |||||||||
Options Outstanding, Options Exercisable | 249,787 | 249,787 | ||||||||
[1] | After giving consideration for 30:1 share consolidation effected June 20, 2018. |
Share Capital - Summary of Op_2
Share Capital - Summary of Options are Granted to Directors, Officers, Employees and Consultants (Detail) | 12 Months Ended |
Dec. 31, 2019shares | |
May 29, 2019, options granted to a Director [member] | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Grant date/Person entitled | May 29, 2019, options granted to a Director |
Number of Options | 253,000 |
Vesting Conditions | Options vest over a specified vesting period not exceeding 4 years |
Contractual life of Options | 7 years |
June 28, 2019, options granted to an Employee [member] | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Grant date/Person entitled | June 28, 2019, options granted to an Employee |
Number of Options | 10,000 |
Vesting Conditions | Options vest as to 1/3 of the total number of Options granted, every year from Grant Date |
Contractual life of Options | 7 years |
July 18, 2019, options granted to a Director [member] | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Grant date/Person entitled | July 18, 2019, options granted to a Director |
Number of Options | 25,719 |
Vesting Conditions | Options vest immediately |
Contractual life of Options | 7 years |
July 19, 2019, options granted to an Employee [member] | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Grant date/Person entitled | July 19, 2019, options granted to an Employee |
Number of Options | 467,255 |
Vesting Conditions | Options vest as to 1/4 of the total number of Options granted, every year from Grant Date |
Contractual life of Options | 7 years |
July 19, 2019, options granted to a Consultant [member] | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Grant date/Person entitled | July 19, 2019, options granted to a Consultant |
Number of Options | 2,165 |
Vesting Conditions | Options vest as to 1/3 of the total number of Options granted, every year from Grant Date |
Contractual life of Options | 7 years |
July 19, 2019, options granted to a Director [member] | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Grant date/Person entitled | July 19, 2019, options granted to a Director |
Number of Options | 41,273 |
Vesting Conditions | Options vest immediately |
Contractual life of Options | 7 years |
September 9, 2019, options granted to a Consultant [member] | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Grant date/Person entitled | September 9, 2019, options granted to a Consultant |
Number of Options | 40,000 |
Vesting Conditions | Options vest over a 15-month vesting schedule subject to achieving certain milestones. |
Contractual life of Options | 2.5 years |
February 14, 2019, options granted to a Consultant [member] | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Grant date/Person entitled | February 14, 2019, options granted to a Consultant |
Number of Options | 40,000 |
Vesting Conditions | Options may vest over a 15-month vesting schedule |
Share Capital - Summary of Inpu
Share Capital - Summary of Inputs Used in Measurement of Fair Values at Grant Date of Share Based Option Plan (Detail) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2020CAD ($)yr$ / shares | Dec. 31, 2019CAD ($)yr$ / shares | Dec. 31, 2019$ / shares | Dec. 31, 2018CAD ($)yr$ / shares | |
Disclosure of fair value measurement of equity [line items] | ||||
Expected Option Life | yr | 3.5 | |||
US Dollar [Member] | ||||
Disclosure of fair value measurement of equity [line items] | ||||
Fair Value calculated | $ 1.48 | |||
Share price at grant | 2.36 | |||
Exercise price | $ 2.72 | |||
Risk free interest rate (based on government bonds) | 1.50% | |||
Expected Volatility | 97.90% | |||
Expected dividends | $ | ||||
Canadian Dollar [Member] | ||||
Disclosure of fair value measurement of equity [line items] | ||||
Fair Value calculated | $ 0.43 | $ 1.61 | $ 5.99 | |
Share price at grant | 0.62 | 2.90 | 10.79 | |
Exercise price | $ 0.66 | $ 4.54 | $ 11.97 | |
Expected Option Life | yr | 3.5 | 3.4 | 3 | |
Risk free interest rate (based on government bonds) | 1.41% | 1.43% | 1.90% | |
Expected Volatility | 109.00% | 98.10% | 90.12% | |
Expected dividends | $ |
Income Tax - Additional Informa
Income Tax - Additional Information (Detail) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Income Tax Expense Benefits [line items] | ||
Company's effective tax rate | 26.50% | 26.50% |
Non-capital losses | $ 240,594,715 | |
Accumulated Qualifying Research and Development expenses | 5,635,128 | |
Unclaimed investment tax credits | 1,167,560 | $ 1,167,560 |
2012 and 2011 SR and ED claims [member] | 2012 [member] | ||
Income Tax Expense Benefits [line items] | ||
Non-capital losses | 6,517,436 | |
2012 and 2011 SR and ED claims [member] | 2032 [member] | ||
Income Tax Expense Benefits [line items] | ||
Non-capital losses | 7,260,729 | |
2012 and 2011 SR and ED claims [member] | 2011 [member] | ||
Income Tax Expense Benefits [line items] | ||
Non-capital losses | 9,423,694 | |
2012 and 2011 SR and ED claims [member] | 2031 [member] | ||
Income Tax Expense Benefits [line items] | ||
Non-capital losses | 12,735,836 | |
Unclaimed Ontario Research and Development Tax Credit [member] | ||
Income Tax Expense Benefits [line items] | ||
Unclaimed investment tax credits | 237,997 | $ 237,997 |
Bottom of range [member] | ||
Income Tax Expense Benefits [line items] | ||
Accumulated Qualifying Research and Development expenses | 5,635,128 | |
Top of range [member] | ||
Income Tax Expense Benefits [line items] | ||
Accumulated Qualifying Research and Development expenses | $ 9,439,430 |
Income Tax - Schedule of Reconc
Income Tax - Schedule of Reconciliation of Combined Federal and Provincial Corporate Income Taxes (Detail) - USD ($) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | |
Major components of tax expense (income) [abstract] | ||||
Net Loss before income taxes | $ (768,043) | $ (28,282,880) | $ (41,907,079) | $ (22,639,272) |
Income taxes at statutory rates | (11,105,376) | (5,999,407) | ||
Tax effect of expenses not deductible for income tax purposes: | ||||
Tax/FX rate changes and other adjustments | 0 | |||
Permanent differences | (4,800,780) | (4,374,564) | ||
Unrecognized share issue costs | (625,220) | (354,072) | ||
Tax/foreign currency rate changes and other adjustments | 93,724 | |||
Total tax recovery | (16,437,652) | (10,728,043) | ||
Tax recovery not recognized | 16,437,652 | 10,728,043 | ||
Tax expense (income), net | $ 0 | $ 0 |
Income Tax - Schedule of Deferr
Income Tax - Schedule of Deferred Income Tax Assets and Liabilities (Detail) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Deferred tax assets and liabilities [abstract] | ||
Non-Capital Losses | $ 63,740,497 | $ 47,679,897 |
Qualifying Research and Development expenditures | 1,493,309 | 1,493,309 |
Share issue costs and other | 1,999,584 | 1,622,533 |
Total tax assets | 67,233,390 | 50,795,739 |
Tax assets not recognized | (67,233,390) | (50,795,739) |
Net deferred tax assets | $ 0 | $ 0 |
Income Tax - Schedule of Non-Ca
Income Tax - Schedule of Non-Capital Losses (Detail) | Dec. 31, 2019USD ($) |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Non-capital losses | $ 240,594,715 |
2033 [member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Non-capital losses | 8,856,497 |
2027 [member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Non-capital losses | 786,557 |
2028 [member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Non-capital losses | 169,954 |
2029 [member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Non-capital losses | 186,708 |
2030 [member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Non-capital losses | 2,003,594 |
2031 [member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Non-capital losses | 12,735,836 |
2032 [member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Non-capital losses | 7,260,729 |
2039 [Member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Non-capital losses | 60,670,576 |
2034 [member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Non-capital losses | 15,819,741 |
2035 [member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Non-capital losses | 43,934,918 |
2036 [member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Non-capital losses | 28,310,254 |
2037 [member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Non-capital losses | 19,604,159 |
2038 [member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Non-capital losses | $ 40,255,192 |
Commitments - Additional Inform
Commitments - Additional Information (Detail) - USD ($) | Mar. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Commitments [abstract] | |||
Purchase orders remain outstanding | $ 1,305,910 | $ 1,327,294 | $ 12,756,962 |
Deposits | $ 481,400 | $ 481,400 | $ 8,541,630 |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Detail) - USD ($) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | |
Key management personnel of entity or parent [member] | ||||
Disclosure of transactions between related parties [line items] | ||||
Compensation to the Executive Officers | $ 186,401 | $ 514,252 | $ 1,495,611 | $ 1,552,367 |
Related Party Transactions - Su
Related Party Transactions - Summary of Common Shares Outstanding and Percentage Control of the Company (Detail) - shares | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Jun. 19, 2018 | ||
Disclosure of transactions between related parties [line items] | |||||
Number of Shares | 54,216,877 | 39,907,681 | 21,675,849 | 419,888,250 | |
Percentage of ownership | 100.00% | 100.00% | 100.00% | ||
Key management personnel of entity or parent [member] | |||||
Disclosure of transactions between related parties [line items] | |||||
Number of Shares | 60,168 | 60,168 | 65,428 | ||
Percentage of ownership | 0.11% | 0.15% | 0.30% | ||
Key management personnel of entity or parent [member] | John Schellhorn [member] | |||||
Disclosure of transactions between related parties [line items] | |||||
Number of Shares | 294 | 294 | 294 | ||
Percentage of ownership | 0.00% | 0.00% | 0.00% | ||
Key management personnel of entity or parent [member] | David McNally [member] | |||||
Disclosure of transactions between related parties [line items] | |||||
Number of Shares | 4,167 | 4,167 | 4,167 | ||
Percentage of ownership | 0.01% | 0.01% | 0.02% | ||
Key management personnel of entity or parent [member] | Stephen Randall [member] | |||||
Disclosure of transactions between related parties [line items] | |||||
Number of Shares | 22,993 | 22,993 | 21,643 | ||
Percentage of ownership | 0.04% | 0.06% | 0.10% | ||
Key management personnel of entity or parent [member] | John Barker [member] | |||||
Disclosure of transactions between related parties [line items] | |||||
Number of Shares | 32,714 | 32,714 | 31,714 | ||
Percentage of ownership | 0.06% | 0.08% | 0.15% | ||
Key management personnel of entity or parent [member] | Bruce Wolff [member] | |||||
Disclosure of transactions between related parties [line items] | |||||
Number of Shares | [1] | 7,610 | |||
Percentage of ownership | [1] | 0.03% | |||
[1] | Bruce Wolff retired as a Director effective May 29, 2019 |
Financial Instruments - Additio
Financial Instruments - Additional Information (Detail) | 12 Months Ended | ||||||
Dec. 31, 2019USD ($) | Dec. 31, 2019CAD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2018CAD ($) | Mar. 31, 2020USD ($) | Mar. 31, 2019USD ($) | Dec. 31, 2017USD ($) | |
Disclosure of nature and extent of risks arising from financial instruments [line items] | |||||||
Cash and cash equivalents | $ 814,492 | $ 11,471,243 | $ 1,760,219 | $ 23,610,440 | $ 26,130,493 | ||
Accounts payable and accrued liabilities | 11,441,668 | 6,447,888 | |||||
Warrant liability | $ 3,621,444 | 11,250,167 | $ 2,373,057 | $ 17,849,460 | |||
Changes in sensitivity interest rate | 1.00% | 1.00% | |||||
Annual net loss changes due to interest rate effect | $ 62,071 | 113,711 | |||||
5% strengthening of US Dollar against Canadian Dollar [member] | |||||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | |||||||
Profit of (Loss) | $ 32,541 | $ 192,059 | |||||
5% strengthening of US Dollar against Canadian Dollar [member] | Warrant Liability [Member] | |||||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | |||||||
Strengthening of currency against accounts payable and accrued liabilities | $ 868,855 | $ 5,520,457 | |||||
5% strengthening of US Dollar against Canadian Dollar [member] | C D N Current Assets And Accounts Payable And Accrued Liabilities [Member] | |||||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | |||||||
Strengthening of currency against current assets | $ 556,276 | $ 277,228 |
Financial Instruments - Summary
Financial Instruments - Summary of Impact on Profit and Equity of a 5 % strengthening of the US Dollar versus the Canadian Dollar (Detail) - 5% strengthening of US Dollar against Canadian Dollar [member] - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Profit of (Loss) | $ 32,541 | $ 192,059 |
CDN Accounts payable and accrued liability [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Profit of (Loss) | 52,228 | 202,214 |
CDN Current Assets [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Profit of (Loss) | $ (19,687) | $ (10,155) |
Capital Management - Additional
Capital Management - Additional Information (Detail) $ in Millions | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Capital Management | |
Minimum Market Value | $ 35 |
Subsequent events - Disclosure
Subsequent events - Disclosure Of Shares Sold Pursuant To Share Purchase Agreement (Details) - Aspire Agreement [Member] - Aspire Capital Fund LLC [Member] - USD ($) | Feb. 13, 2020 | Feb. 06, 2020 | Jan. 10, 2020 | Jan. 08, 2020 | Jan. 06, 2020 | Jan. 03, 2020 | Jan. 23, 2020 | Jan. 18, 2020 | Jan. 17, 2020 | Dec. 23, 2019 | Mar. 31, 2020 | Dec. 31, 2019 |
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | ||||||||||||
Issue of equity | $ 423,440 | $ 5,304,531 | $ 5,304,531 | |||||||||
Events After Reporting Period [Member] | ||||||||||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | ||||||||||||
Common stock shares issued | 4,408,048 | |||||||||||
Issue of equity | $ 2,071,930 | |||||||||||
Events After Reporting Period [Member] | Grant Date February Thirteen Two Thousand Twenty [Member] | ||||||||||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | ||||||||||||
Common stock shares issued | 708,048 | |||||||||||
Issue of equity | $ 300,000 | |||||||||||
Events After Reporting Period [Member] | Grant Date February Six Two Thousand Twenty [Member] | ||||||||||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | ||||||||||||
Common stock shares issued | 600,000 | |||||||||||
Issue of equity | $ 282,000 | |||||||||||
Events After Reporting Period [Member] | Grant Date January Twenty Three Two Thousand Twenty [Member] | ||||||||||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | ||||||||||||
Common stock shares issued | 600,000 | |||||||||||
Issue of equity | $ 295,320 | |||||||||||
Events After Reporting Period [Member] | Grant Date Seventeen Two Thousand Twenty [Member] | ||||||||||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | ||||||||||||
Common stock shares issued | 600,000 | |||||||||||
Issue of equity | $ 303,000 | |||||||||||
Events After Reporting Period [Member] | Grant Date January Ten Two Thousand Twenty [Member] | ||||||||||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | ||||||||||||
Common stock shares issued | 500,000 | |||||||||||
Issue of equity | $ 247,550 | |||||||||||
Events After Reporting Period [Member] | Grant Date January Eight Two Thousand Twenty [Member] | ||||||||||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | ||||||||||||
Common stock shares issued | 400,000 | |||||||||||
Issue of equity | $ 195,160 | |||||||||||
Events After Reporting Period [Member] | Grant Date January Six Two Thousand Twenty [Member] | ||||||||||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | ||||||||||||
Common stock shares issued | 500,000 | |||||||||||
Issue of equity | $ 229,300 | |||||||||||
Events After Reporting Period [Member] | Grant Date January Three Two Thousand Twenty [Member] | ||||||||||||
Disclosure Of Shares Sold Pursuant To Share Purchase Agreement [Line Items] | ||||||||||||
Common stock shares issued | 500,000 | |||||||||||
Issue of equity | $ 219,600 |
Subsequent events - Additional
Subsequent events - Additional Information (Detail) | May 06, 2020USD ($)$ / sharesshares | May 06, 2020CAD ($)shares | May 06, 2020CAD ($) | Jan. 03, 2020USD ($)$ / sharesshares | Apr. 28, 2020USD ($) | Mar. 25, 2020USD ($)$ / sharesshares | Mar. 25, 2020CAD ($)shares | Jan. 28, 2020shares$ / shares | Aug. 29, 2019USD ($)shares | Mar. 31, 2020USD ($)shares | Mar. 31, 2019USD ($)shares | Dec. 31, 2019USD ($)shares | Dec. 31, 2018USD ($)shares | Dec. 23, 2019USD ($)shares |
Disclosure of non-adjusting events after reporting period [line items] | ||||||||||||||
Shares issued | shares | shares | 54,216,877 | 39,907,681 | ||||||||||||
Common stock value outstanding | $ 198,693,476 | $ 194,859,415 | $ 170,502,394 | |||||||||||
Weighted average remaining contractual life of outstanding share options | 5 years 3 months 25 days | |||||||||||||
Amount allocated to common shares | $ 1,011,120 | $ 7,002,043 | $ 7,002,043 | $ 59,998 | ||||||||||
Warrant exercised | shares | 2,400,000 | 1,018,506 | 6,500 | |||||||||||
Proceeds from warrant exercised | $ 38,000 | |||||||||||||
Over Allotment Option 1 [Member] | ||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | ||||||||||||||
Warrant exercised | shares | 1,018,506 | |||||||||||||
Proceeds from warrant exercised | $ 3,259,219 | |||||||||||||
Aspire Agreement [Member] | ||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | ||||||||||||||
Gross proceeds from offerings | $ 3,000,000 | $ 3,000,000 | ||||||||||||
Events After Reporting Period [Member] | ||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | ||||||||||||||
Number of share options granted in share-based payment arrangement | shares | 25,765 | |||||||||||||
Weighted average remaining contractual life of outstanding share options | 7 years | |||||||||||||
Weighted average exercise price of share options granted in share-based payment arrangement | $ / shares | $ 0.657 | |||||||||||||
Warrant exercised | shares | 200,000 | |||||||||||||
Proceeds from warrant exercised | $ 38,000 | |||||||||||||
Events After Reporting Period [Member] | Senior secured promissory note [Member] | ||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | ||||||||||||||
Borrowings | $ 1,500,000 | |||||||||||||
Borrowings interest rate | 8.00% | |||||||||||||
Maturity date | April 28, 2023 | |||||||||||||
Wainwright [Member] | Events After Reporting Period [Member] | ||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | ||||||||||||||
Gross proceeds from offerings | $ 2,000,000 | |||||||||||||
Price per share | $ / shares | $ 0.36268 | |||||||||||||
Number of warrants to purchase common stock | shares | 2,757,252 | 2,757,252 | 490,000 | 490,000 | ||||||||||
Exercise price per share | $ / shares | $ 0.3002 | $ 0.2125 | ||||||||||||
Warrants expiration period | 5 years 6 months | 5 years 6 months | ||||||||||||
Cash commissions | $ 83,300 | |||||||||||||
Warrants expiration period | Mar. 25, 2025 | Mar. 25, 2025 | ||||||||||||
Sale of offering units | shares | 5,514,504 | 5,514,504 | ||||||||||||
Wainwright [Member] | Events After Reporting Period [Member] | Over Allotment Option 1 [Member] | ||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | ||||||||||||||
Number of warrants to purchase common stock | shares | 386,015 | 386,015 | ||||||||||||
Cash commissions | $ 140,000 | |||||||||||||
Warrants expiration period | Nov. 6, 2025 | Nov. 6, 2025 | ||||||||||||
Common stock price per share | $ / shares | $ 0.45335 | |||||||||||||
Institutional Investors [Member] | Events After Reporting Period [Member] | ||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | ||||||||||||||
Shares issued | shares | shares | 7,000,000 | |||||||||||||
Gross proceeds from offerings | $ 1,200,000 | |||||||||||||
Share price | $ / shares | $ 0.17 | |||||||||||||
Number of warrants to purchase common stock | shares | 3,500,000 | 3,500,000 | ||||||||||||
Net proceeds from offering | $ 1,613,800 | $ 885,000 | ||||||||||||
Exercise price per share | $ / shares | $ 0.19 | |||||||||||||
Warrants expiration period | 5 years | 5 years | ||||||||||||
Fair value of warrants | $ 618,100 | |||||||||||||
Amount allocated to common shares | $ 571,900 | |||||||||||||
Cambridge Design Partnership Limited [Member] | Events After Reporting Period [Member] | ||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | ||||||||||||||
Common stock shares issued for consideration other than cash | shares | 501,148 | |||||||||||||
Price per share | $ / shares | $ 0.50 | |||||||||||||
Common stock value outstanding | $ 250,574 | |||||||||||||
Aspire Capital Fund LLC [Member] | Aspire Agreement [Member] | ||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | ||||||||||||||
Capital Issued Commitments | $ 35,000,000 | $ 35,000,000 | ||||||||||||
Shares issued | shares | shares | 1,777,325 | 7,784,444 | 7,784,444 | 973,000 | ||||||||||
Gross proceeds from offerings | $ 3,000,000 |