XML 86 R46.htm IDEA: XBRL DOCUMENT

WARRANT LIABILITY (Tables)

12 Months Ended

Dec. 31, 2017

Warrant Liability

Schedule of Change in Warrant Liability

A reconciliation of the changes in the warrant liability during the year is as follows:

		December 31,				December 31,
		2017				2016
Balance at beginning of the year		$	1,629,797			$	-
Warrants issued during the year			-				1,637,887
Fair value adjustment			(563,466	)			(8,197	)
Effect of movement in exchange rates			94,778				107
Balance at end of the year		$	1,161,109			$	1,629,797

Continuity of derivative warrants during the year is as follows:

		Underlying Shares				Weighted Average Exercise Price
Warrants outstanding and exercisable, January 1, 2016			1,033,059			$	2.87
Issued			3,602,215			$	1.99
Warrants outstanding and exercisable, December 31, 2016			4,635,274			$	2.19
Expired			(1,033,059	)		$	2.87
Warrants outstanding and exercisable, December 31, 2017			3,602,215			$	1.99

Schedule of Warrants Outstanding and Exercisable

		Exercise Price				Warrants Outstanding and Exercisable
Expiry Date		per Share				December 31, 2017				December 31, 2016				January 1, 2016
February 25, 2017		$	2.87				-				1,033,059				1,033,059
March 14, 2019		$	1.00				40,000				40,000				-
November 28, 2019		$	2.00				3,562,215				3,562,215				-
							3,602,215				4,635,274				1,033,059

Schedule of Fair Value of Warrant Liability

		December 31, 2017				December 31, 2016				January 1, 2016
Weighted average assumptions:
Risk-free interest rate			1.66	%			0.67	%			0.48	%
Expected dividend yield			0	%			0	%			0	%
Expected option life (years)			1.90				2.29				1.14
Expected stock price volatility			65.69	%			72.66	%			46.02	%
Weighted average fair value		$	0.32			$	0.35			$	0.00