Financials

v3.8.0.1
Condensed Interim Consolidated Balance Sheets - USD ($)
Dec. 31, 2017
Sep. 30, 2017
Current assets:    
Cash and cash equivalents $ 4,369,671 $ 4,570,951
Accounts receivable 10,977 1,287
Short-term investments 998,575 1,994,401
Inventory 118,540 68,114
Prepaid expenses 159,543 123,694
Total current assets 5,657,306 6,758,447
Noncurrent assets:    
Equity investment in joint venture 66,695 66,695
Property, plant and equipment, net 854,053 879,523
Deposits 15,340 15,340
Total noncurrent assets 936,088 961,558
Total Assets 6,593,394 7,720,005
Current liabilities:    
Accounts payable and accrued liabilities 574,376 320,947
Total Current Liabilities 574,376 320,947
Commitments (Note 7)
Shareholders' equity:    
Common shares, unlimited common shares authorized, no par value, 10,520,096 issued and outstanding at December 31, 2017 and September 30, 2017 48,351,701 48,351,701
Accumulated share-based compensation 4,460,106 4,439,400
Accumulated deficit (46,792,789) (45,392,043)
Total Shareholders' Equity 6,019,018 7,399,058
Total Liabilities and Shareholders' Equity $ 6,593,394 $ 7,720,005
v3.8.0.1
Condensed Interim Consolidated Statements of Operations - USD ($)
3 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Revenues:    
Product sales $ 20,487 $ 141,856
Revenues 20,487 141,856
Expenses:    
Cost of sales 2,801 78,565
Costs of aquaculture 98,050 84,835
Research and development 631,034 460,865
General and administrative 678,481 932,067
Total Expenses 1,410,366 1,556,332
Loss from Operations (1,389,879) (1,414,476)
Other Income (Loss)    
Foreign exchange loss (17,929) (77,390)
Investment income 7,862 6,994
Other Income (Loss), Total (10,067) (70,396)
Loss Before Income Tax (1,399,946) (1,484,872)
Income tax expense 800 800
Net Loss $ (1,400,746) $ (1,485,672)
Loss per common share:    
Basic and diluted $ (0.13) $ (0.15)
Weighted average number of common shares outstanding:    
Basic and diluted 10,520,096 10,136,258
v3.8.0.1
Condensed Interim Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Cash Flows Used In Operating Activities:    
Net loss $ (1,400,746) $ (1,485,672)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 49,309 45,470
Share-based compensation 20,706 36,442
Foreign exchange loss 17,929 77,390
Transfer equipment to research and development 10,835 0
Changes in working capital items:    
Accounts receivable (9,712) 72,666
Inventory (50,426) (80,153)
Prepaid expenses (35,919) (9,885)
Accounts payable and accrued liabilities 253,561 (21,292)
Net cash used in operating activities (1,144,463) (1,365,034)
Cash Flows From Investing Activities:    
Acquisition of property, plant and equipment (34,767) (84,424)
Purchase of short-term investments (4,174) (4,804)
Proceeds on sales and maturities of short-term investments 1,000,000 0
Net cash provided by (used in) investing activities 961,059 (89,228)
Cash Flows From Financing Activities:    
Effect of exchange rate changes on cash and cash equivalents (17,876) (77,233)
Net change in cash and cash equivalents (201,280) (1,531,495)
Cash and cash equivalents - beginning of period 4,570,951 7,416,904
Cash and cash equivalents - end of period 4,369,671 5,885,409
Cash (demand deposits) 4,090,861 4,549,089
Cash equivalents 278,810 1,336,320
Cash and cash equivalents 4,369,671 7,416,904
Supplemental cash flow information:    
Cash paid during the period for taxes $ 800 $ 800

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