Income Statement

v3.20.4
Condensed Consolidated Interim Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2020
Dec. 31, 2019
Income Statement [Abstract]        
Sales (Note 9) $ 4,658,466 $ 37,521,949 $ 42,128,892 $ 105,024,728
Cost of goods sold 3,625,204 22,619,653 25,515,248 63,067,989
Gross profit 1,033,262 14,902,296 16,613,644 41,956,739
Expenses        
Advertising and promotion 152,172 223,757 510,748 1,089,709
Amortization of intangible assets (Note 6) 389,703 242,331 1,169,039 681,065
Consulting fees, technical support, and commissions 1,238,962 6,929,142 9,583,143 16,108,013
Depreciation (Note 5) 47,807 21,597 144,457 44,978
Foreign exchange (gain) loss (41,959) (492,206) 2,577 (70,732)
Office and miscellaneous 460,338 847,158 1,396,263 2,032,767
Operating lease expense (Note 19) 93,910 96,340 342,077 302,131
Professional fees 601,790 342,444 1,494,425 1,024,901
Research and development     4,368  
Salaries and wage expenses 1,187,967 1,910,852 4,510,241 4,402,448
Transfer agent and filing fees (34,007) 6,548 106,758 136,486
Travel and accommodation 129,470 1,087,576 302,040 2,482,144
Warranty and related (Note 12) 160,125 1,356,422 1,407,420 2,711,213
Total expenses 4,386,278 12,571,961 20,973,556 30,945,123
(Loss) income before other income (expenses) (3,353,016) 2,330,335 (4,359,912) 11,011,616
Other income (expenses)        
Gain on de-consolidation of subsidiary (Note 18)     239,174  
(Loss) gain on change in fair value of derivative liability (Note 10) (50,869) 57,520 (1,306) (13,887)
Gain on reduction of acquisition costs of subsidiary (Note 7)     3,240,250  
Financing interest income 247,253 13,782 548,543 43,418
Interest expense (24,015) (1,501) (46,479) (5,006)
Provision for loan     4,754  
Gain on termination of lease     3,019  
Total other income (expense) 172,369 69,801 3,987,955 24,525
Net (loss) income for the period (3,180,647) 2,400,136 (371,957) 11,036,141
Other comprehensive income        
Foreign currency translation gain 606,849 (216,909) 690,893 246,634
Comprehensive (loss) income for the period $ (2,573,798) $ 2,183,227 $ 318,936 $ 11,282,775
Net income per share, basic and diluted (in Dollars per share) $ (0.07) $ 0.05 $ (0.01) $ 0.24
Weight average number of common shares outstanding, basic (in Shares) [1] 46,598,183 45,983,928 46,305,661 45,981,958
Weight average number of dilutive shares outstanding, diluted (in Shares) 46,598,183 45,983,928 46,305,661 45,981,958
[1] The period ended December 31, 2020, includes 312,500 stock options (December 31, 2019 – 487,500) as they are exercisable at any time and for nominal cash consideration.

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