Quarterly report pursuant to Section 13 or 15(d)

Derivative Liability

Derivative Liability
3 Months Ended
Sep. 30, 2018
Derivative Liability [Abstract]  
Derivative liability
4        Derivative liability


The Company has issued common stock purchase warrants. Based on the terms of certain of these warrants the Company determined that the warrants were a derivative liability which is recognized at fair value at the date of the transaction and re-measured at fair value each reporting period with the changes in fair value recorded in the consolidated condensed interim statement of loss and comprehensive loss.


The Company’s derivative liability is summarized as follows:


      Three months ended  
      September 30,  
      2018     2017  
      $     $  
  Opening balance     1,117       61,228  
  Change in fair value of warrants     220       (56,568 )
  Closing balance     1,337       4,660  
  Less current portion     -       (589 )
  Long term portion     1,337       4,071  


The derivative liability consists of the following warrants:


      September 30, 
      Number of warrants     $  
  2015 Agent Warrants     21,768       1,337  
  Closing balance     21,768       1,337  
  Less current portion     -       -  
  Long-term portion     21,768       1,337