Income Statement

v3.19.3
Consolidated Statements of Operations and Comprehensive Income (loss) - USD ($)
3 Months Ended 6 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Income Statement [Abstract]        
Sales (Note 8) $ 62,738,544 $ 67,502,779
Cost of goods sold 37,630,423 40,448,336
Gross profit 25,108,121 27,054,443
Expenses        
Advertising and promotion 320,900 69,425 865,952 103,942
Amortization of intangible assets 219,781 218,954 438,734 437,907
Depreciation 13,937 2,356 23,381 4,712
Foreign exchange loss (gain) 170,632 (20,845) 421,474 (165,574)
Lease expense 103,329 205,791
Office and miscellaneous 556,509 17,653 1,050,155 80,296
Management and technical consulting fees (Note 12) 6,487,001 830,887 9,379,871 1,187,971
Professional fees 371,771 88,405 682,457 157,947
Salaries and wage expense 1,397,713 171,364 2,301,421 171,364
Stock-based compensation 36,347 174,249 50,175 174,249
Transfer agent and filing fees 21,700 10,359 129,938 27,381
Travel and accommodation 674,551 128,494 1,333,568 211,988
Contingent warranty provision and related 1,226,087 1,354,791
Total expenses 11,600,258 1,691,301 18,237,708 2,392,183
Income (loss) before other income (expenses) 13,507,863 (1,691,301) 8,816,735 (2,392,183)
Other income (expenses)        
Interest income on finance lease 14,668 29,636
Gain (loss) on change in fair value of derivative liability (Note 11) 65,547 (35,719) (71,407) (180,866)
Interest expense (2,005) (3,035) (3,505) (6,025)
Total other income (expense) 78,210 (38,754) (45,276) (186,891)
Net income (loss) for the period 13,586,073 (1,730,055) 8,771,459 (2,579,074)
Other comprehensive income        
Foreign currency translation gain (loss) 384,328 (1,894) 463,543 (116,124)
Comprehensive income (loss) for the period $ 13,970,401 $ (1,731,949) $ 9,235,002 $ (2,695,198)
Net income (loss) per share, basic and diluted $ 0.30 $ (0.04) $ 0.19 $ (0.06)
Weight average number of common shares outstanding [1] 46,030,439 43,234,278 46,030,439 42,454,659
[1] For the periods ended September 30, 2019, includes 537,000 stock options as they are exercisable at any time and for nominal cash consideration.

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