Quarterly report pursuant to Section 13 or 15(d)

Short-Term Investments and Amounts in Escrow

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Short-Term Investments and Amounts in Escrow
9 Months Ended
Dec. 31, 2019
Short-term Investments [Abstract]  
Short-term Investments and amounts in escrow
3. Short-term Investments and amounts in escrow

 

At December 31, 2019, the Company has a $56,603 (CAD$75,000) (March 31, 2019 - $38,147 (CAD$50,000) Guaranteed Investment Certificate ("GIC") held as security against a corporate credit card. The GIC bears interest at 0.5% per annum and matures February 4, 2020.

 

At December 31, 2019, the Company's solicitor is holding $1,362,706 (March 31, 2019 - $1,698,791) relating to proceeds under customer contracts to be released upon satisfying performance obligations.