Condensed Financial Statements [Table Text Block] |
|
Quarter ended |
|
February 28, 2017 |
|
|
|
|
Prior to |
|
|
Restatement |
Restated |
|
$ |
$ |
Consolidated Balance Sheet:
|
|
|
Secured convertible debentures, net of deferred financing costs |
1,615,201
|
1,350,487
|
Derivative liabilities |
467,671
|
606,991
|
Total Liabilities |
2,523,621
|
2,398,227
|
Accumulated deficit |
(28,563,975)
|
(28,438,581)
|
Total Stockholders' Deficiency |
(1,186,801)
|
(1,061,407)
|
|
|
|
Consolidated Statement of Operations and
Comprehensive Loss:
|
|
|
|
|
|
Foreign currency translation loss |
13,156
|
13,822
|
Selling, general and administration |
523,613
|
479,160
|
Total Operating Expenses |
548,741
|
504,954
|
Loss from Operations |
(529,419)
|
(485,632)
|
Change in fair value of derivative liabilities |
421,379
|
571,648
|
Accretion |
-
|
(68,662)
|
Loss before Income Taxes |
(265,362)
|
(139,968)
|
Net Loss |
(265,362)
|
(139,968)
|
Comprehensive Loss |
(243,209)
|
(117,815)
|
Loss per share-basic and diluted |
(0.004)
|
(0.002)
|
|
|
|
Consolidated Statement of
Cash Flows
|
Three months ended |
|
February 28, 2017 |
Net Loss |
(265,362)
|
(139,968)
|
Adjustment for: Foreign currency translation |
13,156
|
13,822
|
Amortization of debt discount |
44,453
|
68,662
|
Change in fair value of derivative liabilities |
(421,379)
|
(571,648)
|
Net cash used in operating activities |
(477,651)
|
(477,651)
|
|