Income Statement
Consolidated Statements of Operations and Comprehensive Income (loss) - USD ($) |
3 Months Ended | 6 Months Ended | ||||
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Sep. 30, 2019 |
Sep. 30, 2018 |
Sep. 30, 2019 |
Sep. 30, 2018 |
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| 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 | |
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- Definition Management consulting firm for the services provided by consultants on a particular or several engagements (projects). It reflects the time of consultants of various levels charged to the project. No definition available.
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- Definition The cost of office and miscellaneous expenses that was charged against earnings during the period. No definition available.
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- Definition Other financial services costs incurred during the reporting period. No definition available.
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- Definition The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition The aggregate cost of goods produced and sold and services rendered during the reporting period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of increase (decrease) in the fair value of derivatives recognized in the income statement. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of interest expense on finance lease liability. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount before tax of foreign currency transaction realized and unrealized gain (loss) recognized in the income statement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The total expense recognized in the period for promotion, public relations, and brand or product advertising. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition Amount of operating lease expense. Excludes sublease income. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of tax expense (benefit), after reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The expense charged against earnings for the period pertaining to standard and extended warranties on the entity's goods and services granted to customers. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of expense for salary and wage arising from service rendered by nonofficer employee. Excludes allocated cost, labor-related nonsalary expense, and direct and overhead labor cost included in cost of good and service sold. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of noncash expense for share-based payment arrangement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Expenses incurred for travel and entertainment during the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS). No definition available.
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