Note 23 - Capital Management
|12 Months Ended|
Mar. 31, 2018
|Statement Line Items [Line Items]|
|Disclosure of objectives, policies and processes for managing capital [text block]||
Since inception, the Corporation’s objective in managing capital is to ensure sufficient liquidity to finance its research and development activities, general and administrative expenses, expenses associated with intellectual property protection and its overall capital expenditures. The Corporation is
notexposed to external requirements by regulatory agencies or
thirdparties regarding its capital, except for certain covenants included within the convertible debentures
Since the beginning of its operations, the Corporation has primarily financed its liquidity needs from funding provided through public offerings, private placements, from the exercise of warrants that were distributed to its related party’s shareholders, from a rights offering and from the issuance of options to employees.
The Corporation defines capital to include total shareholders’ equity, derivative warrant liabilities and unsecured convertible debentures.
The Corporation’s policy is to maintain a minimal level of debt.
The following table summarizes the cash and cash equivalents of the Corporation:
March 31, 2018,cash equivalents consist of
fourterm deposits totaling
twocommercial paper totaling
onepromissory note totaling $
$798), each being held with a Canadian financial institution having a high credit rating. The term deposits, commercial paper and promissory note have maturity dates of ranging between
April 2, 2018and
May 11, 2018,bearing interest rates ranging from
1.72%per annum, cashable at any time at the discretion of the Corporation, under certain conditions.
March 31, 2018,the Corporation held a marketable security of a term deposit totaling
$20) held as restricted with maturity of
March 13, 2019and bearing interest at
March 31, 2017and
February 28, 2017,cash equivalents consisting of
twoterm deposits totaling
US$2,251) (unaudited), respectively, are being held with a Canadian financial institution having a high credit rating. The term deposits as at
March 31, 2017have maturity dates of
April 11, 2017and
April 25, 2017,bearing an interest rate of
0.53%per annum, respectively, cashable at any time at the discretion of the Corporation, under certain conditions. The term deposits as at
February 28, 2017have maturity dates of
March 12, 2017and
March 28, 2017,bearing an interest rate of
0.45%per annum, respectively, cashable at any time at the discretion of the Corporation, under certain conditions.
The disclosure of information that enables users of financial statements to evaluate the entity's objectives, policies and processes for managing capital.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef