Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations and Comprehensive Income (loss) (Unaudited)

v3.19.3.a.u2
Consolidated Statements of Operations and Comprehensive Income (loss) (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2019
Dec. 31, 2018
Income Statement [Abstract]        
Sales (Note 9) $ 37,521,949 $ 105,024,728
Cost of goods sold 22,619,653 63,067,989
Gross Profit 14,902,296 41,956,739
Expenses        
Advertising and promotion 223,757 82,851 1,089,709 186,793
Amortization of intangible assets 242,331 218,952 681,065 656,859
Depreciation 21,597 2,357 44,978 7,069
Foreign exchange loss (gain) (492,206) 403,619 (70,732) 238,045
Lease expense 96,340 302,131
Office and miscellaneous expense (Note 2(c)) 847,158 126,607 2,032,767 206,903
Management and technical consulting (Note 13) 6,929,142 1,221,726 16,108,013 2,409,697
Professional fees 342,444 234,157 1,024,901 392,104
Salaries and wages 1,806,931 181,885 4,248,352 353,249
Stock-based compensation 103,921 4,570,133 154,096 4,744,382
Transfer agent and filing fees 6,548 907 136,486 28,288
Travel and accommodation 1,087,576 374,389 2,482,144 586,377
Warranty provision and related costs 1,356,422 2,711,213
Total expenses 12,571,961 7,417,583 30,945,123 9,809,766
Income (loss) before other income (expenses) 2,330,335 (7,417,583) 11,011,616 (9,809,766)
Other income (expenses)        
Interest income on finance lease 13,782 43,418
Gain (loss) on change in fair value of derivative liability (Note 12) 57,520 (118,236) (13,887) (299,102)
Interest expense (1,501) (3,000) (5,006) (9,025)
Total other income (expense) 69,801 (121,236) 24,525 (308,127)
Net income (loss) for the period (Note 2(c)) 2,400,136 (7,538,819) 11,036,141 (10,117,893)
Other comprehensive income        
Foreign currency translation gain (loss) (216,909) 382,127 246,634 266,003
Comprehensive income (loss) for the period $ 2,183,227 $ (7,156,692) $ 11,282,775 $ (9,851,890)
Net income (loss) per share, basic and diluted $ 0.05 $ (0.17) $ 0.24 $ (0.24)
Weighted average number of common shares outstanding 45,983,928 43,549,042 45,981,958 42,917,350