Quarterly report pursuant to Section 13 or 15(d)

Share Capital (Tables)

v3.7.0.1
Share Capital (Tables)
6 Months Ended
Mar. 31, 2017
Class of Warrant or Right [Line Items]  
Schedule of Stockholders Equity [Table Text Block]
The Company had the following transactions in share capital:
 
 
 
Six Months Ended
 
 
 
March 31,
 
March 31,
 
 
 
2017
 
2016
 
 
 
 
 
 
 
Number of common shares issued
 
 
-
 
 
464,000
 
 
 
 
 
 
 
 
 
Proceeds from exercise of warrants
 
$
-
 
$
1,368,260
 
Transfer to common shares on exercise of warrants
 
 
-
 
 
1,853,581
 
Share-based compensation
 
 
64,794
 
 
167,329
 
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]
A summary of the Company’s warrants activity is as follows:
 
 
 
Number of
Warrants
 
Weighted
Average
Exercise Price
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance - September 30, 2015
 
 
1,022,761
 
$
9.04
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Granted
 
 
1,265,626
 
 
4.50
 
 
 
 
Granted
 
 
40,000
 
 
4.00
 
 
CDN $
 
Exercised
 
 
(424,000)
 
 
4.00
 
 
CDN $
 
Expired
 
 
(598,761)
 
 
13.33
 
 
 
 
Expired
 
 
(40,000)
 
 
4.00
 
 
CDN $
 
 
 
 
 
 
 
 
 
 
 
 
Balance - September 30, 2016 and
 
 
 
 
 
 
 
 
 
 
March 31, 2017
 
 
1,265,626
 
$
4.50
 
 
 
 
Schedule Of Warrants Outstanding [Table Text Block]
The following table summarizes information about the warrants outstanding at March 31, 2017:
 
Exercise Price
 
Number of
Warrants
 
Expiry Date
 
 
 
 
 
 
 
$
4.50
 
 
1,265,626
 
January 6, 2022
 
 
 
 
 
 
 
 
 
 
 
1,265,626
 
 
Schedule of Broker Units, Activity [Table Text Block]
A summary of broker units activity is as follows:
 
 
 
 
 
Weighted
 
 
 
 
 
 
Number of
 
Average
 
 
 
 
 
 
Units
 
Exercise Price
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance - September 30, 2015
 
 
46,600
 
$
1.87
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Exercised
 
 
(40,000)
 
 
2.50
 
 
CDN $
 
Expired
 
 
(6,600)
 
 
2.50
 
 
CDN $
 
 
 
 
 
 
 
 
 
 
 
 
Balance - September 30, 2016 and
 
 
 
 
 
 
 
 
 
 
March 31, 2017
 
 
-
 
$
-
 
 
 
 
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
Options have been granted under the Plan allowing the holders to purchase common shares of the Company as follows:
 
 
 
Number of Options
 
Weighted
Average
Exercise Price
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance - September 30, 2015
 
 
557,638
 
$
5.17
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Granted
 
 
56,300
 
 
6.47
 
 
 
 
Expired
 
 
(21,334)
 
 
10.70
 
 
 
 
Expired
 
 
(53,501)
 
 
5.22
 
 
CDN $
 
 
 
 
 
 
 
 
 
 
 
 
Balance - September 30, 2016
 
 
539,103
 
$
5.29
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Granted
 
 
71,600
 
 
1.89
 
 
 
 
Expired
 
 
(18,233)
 
 
7.16
 
 
 
 
Expired
 
 
(1,000)
 
 
9.40
 
 
CDN $
 
 
 
 
 
 
 
 
 
 
 
 
Balance - March 31, 2017
 
 
591,470
 
$
4.77
 
 
 
 
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding [Table Text Block]
The following table summarizes information about the options under the Plan outstanding and exercisable at March 31, 2017:
 
Number of
 
Exercisable at
 
Range of exercise
 
 
Options
 
March 31, 2017
 
prices
 
Expiry Dates
 
283,610
 
 
283,610
 
CDN$0.01 - 5.00
 
Apr 2017-Dec 2019
 
79,900
 
 
14,967
 
$0.01 - 5.00
 
Sep 2023-Mar 2024
 
141,860
 
 
141,860
 
CDN$5.01 - 10.00
 
Oct 2017-Jun 2022
 
15,100
 
 
10,067
 
$5.01 - 10.00
 
Dec 2022
 
21,500
 
 
21,500
 
CDN$15.01 - 20.00
 
Nov 2018-Nov 2021
 
49,500
 
 
49,500
 
$15.01 - 20.00
 
Nov 2020
 
591,470
 
 
521,504
 
 
 
 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
The estimated fair value of the share options granted during the six months ended March 31, 2017 and 2016 was determined using a Black-Scholes option valuation model with the following weighted average assumptions:
 
 
 
Six Months Ended
 
 
 
March 31,
 
March 31,
 
 
 
2017
 
2016
 
Risk free interest rate
 
 
1.44
%
 
1.05
%
Expected life (years)
 
 
7.00
 
 
7.00
 
Expected share price volatility
 
 
166
%
 
108
%
Expected dividend yield
 
 
0
%
 
0
%
Warrants Exercised [Member]  
Class of Warrant or Right [Line Items]  
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]
The fair value of warrants exercised was determined using the Black-Scholes option valuation model, using the following weighted average assumptions: 
 
 
Six Months Ended
 
 
 
March 31,
 
 
 
2016
 
Risk free interest rate
 
 
0.48
%
Expected life (years)
 
 
0.04
 
Expected share price volatility
 
 
92
%
Warrants Granted [Member]  
Class of Warrant or Right [Line Items]  
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]
The fair value of warrants granted was determined using the Black-Scholes option valuation model, using the following weighted average assumptions:
 
 
 
Six Months Ended
 
 
 
March 31,
 
 
 
2016
 
Risk free interest rate
 
 
0.52
%
Expected life (years)
 
 
0.01
 
Expected share price volatility
 
 
91
%
Expected dividend yield
 
 
0
%