Financials

v3.6.0.2
Condensed Interim Consolidated Balance Sheets - USD ($)
Dec. 31, 2016
Sep. 30, 2016
Current assets:    
Cash and cash equivalents $ 5,885,409 $ 7,416,904
Accounts receivable 12,929 85,813
Short-term investments 3,993,598 3,988,794
Inventory 329,583 249,430
Prepaid expenses 368,431 358,714
Total current assets 10,589,950 12,099,655
Noncurrent assets:    
Equity investment in joint venture 66,695 66,695
Property, plant and equipment, net 795,068 756,114
Deposits 15,340 15,340
Total noncurrent assets 877,103 838,149
Total Assets 11,467,053 12,937,804
Current liabilities:    
Accounts payable and accrued liabilities 602,123 623,644
Total Current Liabilities 602,123 623,644
Commitments (Note 7)
Shareholders' equity:    
Common shares, unlimited common shares authorized, no par value, 10,136,258 issued and outstanding at December 31, 2016 and September 30, 2016 47,280,792 47,280,792
Accumulated share-based compensation 5,431,205 5,394,763
Accumulated deficit (41,847,067) (40,361,395)
Total Shareholders' Equity 10,864,930 12,314,160
Total Liabilities and Shareholders' Equity $ 11,467,053 $ 12,937,804
v3.6.0.2
Condensed Interim Consolidated Statements of Operations - USD ($)
3 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Revenues:    
Product sales $ 141,856 $ 456,160
Contract services revenue 0 32,000
Revenues 141,856 488,160
Expenses:    
Costs of sales and contract services 78,565 312,063
Costs of aquaculture 84,835 84,913
Research and development 460,865 288,849
General and administrative 932,067 1,109,689
Total Expenses 1,556,332 1,795,514
Loss from Operations (1,414,476) (1,307,354)
Other Income (Loss)    
Foreign exchange loss (77,390) (109,128)
Loss in fair value of warrant liability 0 (211,956)
Investment income 6,994 5,835
Other Income (Loss), Total (70,396) (315,249)
Loss Before Income Tax (1,484,872) (1,622,603)
Income tax expense 800 7,200
Net Loss $ (1,485,672) $ (1,629,803)
Loss per common share:    
Basic and diluted $ (0.15) $ (0.19)
Weighted average number of common shares outstanding:    
Basic and diluted 10,136,258 8,373,323
v3.6.0.2
Condensed Interim Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Cash Flows Used In Operating Activities:    
Net loss $ (1,485,672) $ (1,629,803)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 45,470 32,386
Share-based compensation 36,442 124,496
Foreign exchange loss 77,390 109,128
Loss in fair value of warrant liability 0 211,956
Changes in working capital items:    
Accounts receivable 72,666 121,945
Inventory (80,153) 29,322
Prepaid expenses (9,885) (67,718)
Accounts payable and accrued liabilities (21,292) 67,076
Deferred revenue 0 (173,333)
Net cash used in operating activities (1,365,034) (1,174,545)
Cash Flows From Investing Activities:    
Acquisition of property, plant and equipment (84,424) (175,019)
Purchase of short-term investments (4,804) (1,629)
Net cash used in investing activities (89,228) (176,648)
Cash Flows From Financing Activities:    
Proceeds from exercise of warrants and options 0 1,368,260
Net cash provided by financing activities 0 1,368,260
Effect of exchange rate changes on cash and cash equivalents (77,233) (85,020)
Net change in cash and cash equivalents (1,531,495) (67,953)
Cash and cash equivalents - beginning of period 7,416,904 3,955,503
Cash and cash equivalents - end of period 5,885,409 3,887,550
Cash (demand deposits) 4,549,089 3,887,550
Cash equivalents 1,336,320 0
Cash and cash equivalents $ 5,885,409 $ 3,887,550

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