Financials

v3.10.0.1
Condensed Interim Consolidated Balance Sheets - USD ($)
Jun. 30, 2018
Sep. 30, 2017
Current assets:    
Cash and cash equivalents $ 5,820,582 $ 4,570,951
Accounts receivable 10,305 1,287
Short-term investments 5,463,554 1,994,401
Inventory 237,494 68,114
Prepaid and other assets 101,755 123,694
Total current assets 11,633,690 6,758,447
Noncurrent assets:    
Equity investment in joint venture 66,695 66,695
Property, plant and equipment, net 1,085,575 879,523
Deposits 15,340 15,340
Total noncurrent assets 1,167,610 961,558
Total Assets 12,801,300 7,720,005
Current liabilities:    
Accounts payable and accrued liabilities 414,610 320,947
Total Current Liabilities 414,610 320,947
Commitments (Note 6)
Shareholders' equity:    
Common shares, unlimited common shares authorized, no par value, 5,330,715 issued and outstanding at June 30, 2018 and 1,502,870 at September 30, 2017 56,652,957 48,351,701
Accumulated share-based compensation 5,035,721 4,439,400
Accumulated deficit (49,301,988) (45,392,043)
Total Shareholders' Equity 12,386,690 7,399,058
Total Liabilities and Shareholders' Equity $ 12,801,300 $ 7,720,005
v3.10.0.1
Condensed Interim Consolidated Statements of Operations - USD ($)
3 Months Ended 9 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenues:        
Revenue from Contract with Customer $ 0 $ 0 $ 0 $ 50,000
Total Revenues 73,053 20,532 157,592 225,407
Expenses:        
Cost of sales and contract services 45,615 77,555 114,039 227,563
Costs of aquaculture 69,493 64,708 241,967 212,945
Research and development 465,180 536,169 1,590,087 1,326,405
General and administrative 651,166 635,716 2,103,636 2,314,143
Total Expenses 1,231,454 1,314,148 4,049,729 4,081,056
Loss from Operations (1,158,401) (1,293,616) (3,892,137) (3,855,649)
Other Income (Loss)        
Foreign exchange gain (loss) (13,608) 64,135 (47,755) 21,972
Investment income 15,337 9,120 30,747 24,767
Other Income (Loss), Total 1,729 73,255 (17,008) 46,739
Loss Before Income Tax (1,156,672) (1,220,361) (3,909,145) (3,808,910)
Income tax expense 0 0 800 800
Net Loss $ (1,156,672) $ (1,220,361) $ (3,909,945) $ (3,809,710)
Loss per common share:        
Basic and diluted $ (0.38) $ (0.84) $ (1.93) $ (2.63)
Weighted average number of common shares outstanding:        
Basic and diluted 3,082,546 1,450,447 2,029,431 1,448,840
Product [Member]        
Revenues:        
Revenue from Contract with Customer $ 73,053 $ 20,532 $ 157,592 $ 175,407
v3.10.0.1
Condensed Interim Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash Flows Used In Operating Activities:    
Net loss $ (3,909,945) $ (3,809,710)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 142,643 135,515
Share-based compensation 125,409 92,480
Foreign exchange (gain) loss 47,755 (21,972)
Transfer equipment to research and development 12,419 0
Changes in working capital items:    
Accounts receivable (9,080) 73,906
Inventory (169,380) 108,483
Prepaid and other assets 21,881 37,033
Accounts payable and accrued liabilities 94,026 (198,269)
Net cash used in operating activities (3,644,272) (3,582,534)
Cash Flows From Investing Activities:    
Purchase of property, plant and equipment (361,400) (200,365)
Purchase of short-term investments (5,969,153) (3,008,853)
Proceeds on sales and maturities of short-term investments 2,500,000 3,000,000
Net cash used in investing activities (3,830,553) (209,218)
Cash Flows From Financing Activities:    
Proceeds from issuance of common shares, net 4,520,319 0
Payments for issuance costs (398,811) 0
Proceeds from exercise of warrants 4,650,659 0
Net cash provided by financing activities 8,772,167 0
Effect of exchange rate changes on cash and cash equivalents (47,711) 22,211
Net change in cash and cash equivalents 1,249,631 (3,769,541)
Cash and cash equivalents - beginning of period 4,570,951 7,416,904
Cash and cash equivalents - end of period 5,820,582 3,647,363
Cash (demand deposits) 1,829,007 1,035,138
Cash equivalents 3,991,575 2,612,225
Cash and cash equivalents 5,820,582 7,416,904
Supplemental cash flow information:    
Cash paid during the period for taxes 800 800
Supplemental disclosure of non-cash transactions:    
Issuance costs withheld from escrow proceeds 972,811 0
Fair value of placement agent warrants $ 470,912 $ 0

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