Quarterly report pursuant to Section 13 or 15(d)

Financial Instruments

v3.19.3
Financial Instruments
6 Months Ended
Sep. 30, 2019
Stock options [Member]  
Financial Instruments
17. Financial Instruments

 

The Company’s financial instruments consist principally of cash, amounts receivable, amounts in escrow, loan receivable, lease receivable, amounts due from and to related parties, accounts payable and accrued liabilities, loan payable, convertible debenture, and note payable. The recorded values of these financial instruments approximate their current fair values because of their nature and respective maturity dates or durations.

 

The lease receivable is recorded at amortized cost, adjusted for the accretion of interest income which is accreted over the life of the lease using the effective interest method. The present value of the lease receivable represents the future contractual cash flows discounted at a rate of 5.4%.

 

The Company’s derivative financial instruments that are measured and recognized at fair value as of September 30, 2019, on a recurring basis are as noted below in the fair value hierarchy:

 

    Level 1
$
    Level 2
$
    Level 3
$
 
                   
Derivative liability           502,993        
                         
Total           502,993