XML 31 R19.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONVERTIBLE DEBT (Tables)
 9 Months Ended
Mar. 31, 2018
Debt Disclosure [Abstract]  
Schedule of convertible debt

    As of  
    March 31, 2018     June 30, 2017  
Convertible debt, current portion   $ 710     $ 2,161  
Noncurrent:                
Convertible notes   $ —     $ 592  
Convertible security     4,580       1,304  
    $ 4,580     $ 1,896  
Schedule of change in convertible security balance

Changes in the Lind Asset Management IV, LLC (“Lind”) convertible security (the “Convertible Security”) balance are comprised of the following:

 

    Convertible Security  
Balance, June 30, 2017   $ 3,465  
Additional debt drawdown     3,500  
Conversions, at fair value     (3,693 )
Change in fair market value     1,308  
Balance, March 31, 2018   $ 4,580
Schedule of warrant issued

As a result, upon payment of the additional $1,000 in funding by Lind to the Company, the face value of the Convertible Security was increased by $1,200 ($1,000 in additional funding plus implied interest), and the Company issued warrants (“Warrants”) to Lind, as follows:

 

                  Black Scholes Pricing Model Inputs
Funding Date  

Face

Value1

    

Warrants

Issued2

 Issue Price3 Warrant Expiry Date Risk-free Rate Yield Volatility

Expected

Life

August 15, 2017   $ 300     260,483 C$0.73 August 15, 2020 1.23% 0% 49.6% 3 years
September 28, 2017     300     283,413 C$0.66 September 28, 2020 1.23% 0% 47.7% 3 years
October 31, 2017     300     308,901 C$0.62 October 31, 2020 1.59% 0% 47.0% 3 years
December 6, 2017     300     355,132 C$0.54 December 6, 2020 1.59% 0% 48.9% 3 years
Total   $ 1,200     1,207,929            

 

  1 Includes implied interest.

  2 The value of warrants issued totaled $127, which was expensed to Change in Financial Instrument Fair Value.
  3 The price to convert one warrant into one common share of the Company (“Common Share”).

 

As a result, upon payment of the additional $2,500 in funding by Lind to the Company, the face value of the Convertible Security was increased by $3,000 ($2,500 in additional funding plus implied interest), and the Company issued Warrants to Lind, as follows:

 

                  Black Scholes Pricing Model Inputs
Funding Date   Face Value1     Warrants Issued2 Issue Price3 Warrant Expiry Date Risk-free rate Yield Volatility Expected Life
January 30, 2018   $ 1,800     1,546,882 C$0.72 January 30, 2021 1.78% 0% 56.5% 3 years
February 5, 2018     600     529,344 C$0.70 February 5, 2021 1.78% 0% 56.6% 3 years
February 7, 2018     600     541,435 C$0.69 February 7, 2021 1.78% 0% 56.7% 3 years
Total   $ 3,000     2,617,661            

 

  1 Includes implied interest.
  2 The value of warrants issued totaled $425, which was expensed to Change in Financial Instrument Fair Value.
  3 The price to convert one warrant into one Common Share.
Schedule of changes in the notes balance

Changes in the Company’s outstanding convertible promissory notes (the “Convertible Notes”) balance are comprised of the following:

 

    Convertible Notes  
Balance, June 30, 2017   $ 592  
Accreted interest, net of interest paid     118  
Balance, March 31, 2018   $ 710  
Schedule of derivative liability related to the conversion feature

The changes in the derivative liability related to the conversion feature of the Convertible Notes are as follows:

 

    Derivative Liability  
Balance, June 30, 2017   $ 82  
Change in fair value of derivative liability     (41 )
Balance, March 31, 2018   $ 41