Financials

v3.10.0.1
Consolidated Balance Sheets - USD ($)
Sep. 30, 2018
Sep. 30, 2017
Current assets:    
Cash and cash equivalents $ 4,225,521 $ 4,570,951
Accounts receivable 41,246 1,287
Short-term investments 6,078,031 1,994,401
Inventory 224,267 68,114
Prepaid and other assets 86,919 123,694
Total current assets 10,655,984 6,758,447
Noncurrent assets:    
Equity investment in joint venture 46,456 66,695
Property, plant and equipment, net 1,062,195 879,523
Deposits 15,340 15,340
Total noncurrent assets 1,123,991 961,558
Total Assets 11,779,975 7,720,005
Current liabilities:    
Accounts payable and accrued liabilities 493,385 320,947
Total Current Liabilities 493,385 320,947
Commitments (Note 7)
Shareholders' equity:    
Common shares, unlimited common shares authorized, no par value, 5,330,715 and 1,502,870 issued and outstanding at September 30, 2018 and 2017, respectively 56,652,957 48,351,701
Accumulated share-based compensation 5,064,625 4,439,400
Accumulated deficit (50,430,992) (45,392,043)
Total Shareholders' Equity 11,286,590 7,399,058
Total Liabilities and Shareholders' Equity $ 11,779,975 $ 7,720,005
v3.10.0.1
Consolidated Statements of Operations - USD ($)
12 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Revenues:    
Revenue from Contract with Customer $ 0 $ 50,000
Total Revenues 211,849 228,287
Expenses:    
Cost of sales and contract services 133,316 250,042
Costs of aquaculture 312,004 284,411
Research and development 2,087,402 1,973,400
General and administrative 2,757,377 2,944,980
Total Expenses 5,290,099 5,452,833
Loss from Operations (5,078,250) (5,224,546)
Other Income (Loss)    
Foreign exchange gain (loss) (35,059) 162,028
Investment income 75,160 32,670
Other Income (Loss), Total 40,101 194,698
Loss Before Income Tax (5,038,149) (5,029,848)
Income tax expense 800 800
Net Loss $ (5,038,949) $ (5,030,648)
Loss per common share:    
Basic and diluted $ (1.76) $ (3.44)
Weighted average number of common shares outstanding:    
Basic and diluted 2,869,374 1,462,459
Product [Member]    
Revenues:    
Revenue from Contract with Customer $ 211,849 $ 178,287
v3.10.0.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash Flows Used In Operating Activities:    
Net loss $ (5,038,949) $ (5,030,648)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 188,372 179,322
Share-based compensation 154,313 115,546
Foreign exchange (gain) loss 35,059 (162,028)
Transfer equipment to research and development 12,419 0
Change in equity investment in joint venture 20,239 0
Changes in working capital items:    
Accounts receivable (40,004) 84,573
Inventory (156,153) 181,316
Prepaid and other assets 36,748 235,001
Accounts payable and accrued liabilities 172,451 (302,731)
Net cash used in operating activities (4,615,505) (4,699,649)
Cash Flows From Investing Activities:    
Purchase of property, plant and equipment (382,810) (302,733)
Purchase of short-term investments (9,083,630) (5,005,607)
Proceeds on sales and maturities of short-term investments 5,000,000 7,000,000
Net cash provided by (used in) investing activities (4,466,440) 1,691,660
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 (35,652) 162,036
Net change in cash and cash equivalents (345,430) (2,845,953)
Cash and cash equivalents - beginning of year 4,570,951 7,416,904
Cash and cash equivalents - end of year 4,225,521 4,570,951
Cash (demand deposits) 3,719,041 3,847,655
Cash equivalents 506,480 723,296
Cash and cash equivalents 4,225,521 4,570,951
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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