Financials

v3.10.0.1
Condensed Interim Consolidated Balance Sheets - USD ($)
Dec. 31, 2018
Sep. 30, 2018
Current assets:    
Cash and cash equivalents $ 7,364,662 $ 4,225,521
Accounts receivable 71,685 41,246
Short-term investments 1,599,067 6,078,031
Inventory 212,079 224,267
Prepaid and other assets 214,903 86,919
Total current assets 9,462,396 10,655,984
Noncurrent assets:    
Equity investment in joint venture 0 46,456
Property, plant and equipment, net 1,022,212 1,062,195
Deposits 15,340 15,340
Total noncurrent assets 1,037,552 1,123,991
Total Assets 10,499,948 11,779,975
Current liabilities:    
Accounts payable and accrued liabilities 512,023 493,385
Deferred revenue 80,000 0
Total Current Liabilities 592,023 493,385
Commitments (Note 7)
Shareholders' equity:    
Common shares, unlimited common shares authorized, no par value, 5,330,715 issued and outstanding at December 31, 2018 and September 30, 2018 56,652,957 56,652,957
Accumulated share-based compensation 5,091,664 5,064,625
Accumulated deficit (51,836,696) (50,430,992)
Total Shareholders' Equity 9,907,925 11,286,590
Total Liabilities and Shareholders' Equity $ 10,499,948 $ 11,779,975
v3.10.0.1
Condensed Interim Consolidated Statements of Operations - USD ($)
3 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Revenues:    
Total Revenues $ 53,033 $ 20,487
Expenses:    
Cost of sales 27,993 2,801
Costs of aquaculture 78,280 98,050
Research and development 470,283 631,034
General and administrative 882,798 678,481
Total Expenses 1,459,354 1,410,366
Loss from Operations (1,406,321) (1,389,879)
Other Income (Loss)    
Foreign exchange gain (loss) (27,139) (17,929)
Investment income 28,556 7,862
Other Income (Loss), Total 1,417 (10,067)
Loss Before Income Tax (1,404,904) (1,399,946)
Income tax expense 800 800
Net Loss $ (1,405,704) $ (1,400,746)
Loss per common share:    
Basic and diluted $ (0.26) $ (0.93)
Weighted average number of common shares outstanding:    
Basic and diluted 5,330,715 1,502,870
Product [Member]    
Revenues:    
Revenue from Contract with Customer $ 53,033 $ 20,487
v3.10.0.1
Condensed Interim Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Cash Flows Used In Operating Activities:    
Net loss $ (1,405,704) $ (1,400,746)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 44,468 49,309
Share-based compensation 27,039 20,706
Foreign exchange (gain) loss 27,139 17,929
Transfer equipment to research and development 0 10,835
Change in equity investment in joint venture 46,456 0
Changes in working capital items:    
Accounts receivable (30,469) (9,712)
Inventory 12,188 (50,426)
Prepaid and other assets (127,916) (35,919)
Accounts payable and accrued liabilities 17,963 253,561
Deferred revenue 80,000 0
Net cash used in operating activities (1,308,836) (1,144,463)
Cash Flows From Investing Activities:    
Purchase of property, plant and equipment (5,666) (34,767)
Purchase of short-term investments (21,036) (4,174)
Proceeds on sales and maturities of short-term investments 4,500,000 1,000,000
Net cash provided by investing activities 4,473,298 961,059
Effect of exchange rate changes on cash and cash equivalents (25,321) (17,876)
Net change in cash and cash equivalents 3,139,141 (201,280)
Cash and cash equivalents - beginning of period 4,225,521 4,570,951
Cash and cash equivalents - end of period 7,364,662 4,369,671
Cash (demand deposits) 6,941,818 4,090,861
Cash equivalents 422,844 278,810
Cash and cash equivalents 7,364,662 4,369,671
Supplemental cash flow information:    
Cash paid during the period for taxes $ 0 $ 800

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