Quarterly report pursuant to Section 13 or 15(d)

Condensed Interim Consolidated Statements of Operations

v3.7.0.1
Condensed Interim Consolidated Statements of Operations - USD ($)
3 Months Ended 6 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Mar. 31, 2017
Mar. 31, 2016
Revenues:        
Product sales $ 13,019 $ 326,335 $ 154,875 $ 782,495
Contract services revenue 50,000 0 50,000 32,000
Revenues 63,019 326,335 204,875 814,495
Expenses:        
Costs of sales and contract services 71,443 268,901 150,008 580,964
Costs of aquaculture 63,402 79,249 148,237 164,162
Research and development 329,371 309,062 790,236 597,911
General and administrative 746,360 765,066 1,678,427 1,874,755
Total Expenses 1,210,576 1,422,278 2,766,908 3,217,792
Loss from Operations (1,147,557) (1,095,943) (2,562,033) (2,403,297)
Other Income (Loss)        
Foreign exchange gain (loss) 35,227 226,764 (42,163) 117,636
Loss in fair value of warrant liability 0 0 0 (211,956)
Investment income 8,653 8,169 15,647 14,004
Other Income (Loss), Total 43,880 234,933 (26,516) (80,316)
Loss Before Income Tax (1,103,677) (861,010) (2,588,549) (2,483,613)
Income tax expense 0 0 800 7,200
Net Loss $ (1,103,677) $ (861,010) $ (2,589,349) $ (2,490,813)
Loss per common share:        
Basic and diluted $ (0.11) $ (0.10) $ (0.26) $ (0.30)
Weighted average number of common shares outstanding:        
Basic and diluted 10,136,258 8,448,758 10,136,258 8,410,835