Quarterly report pursuant to Section 13 or 15(d)

Derivative Liability

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Derivative Liability
3 Months Ended
Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [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 condensed consolidated interim statement of operations and comprehensive loss.

 

The derivative liabilities balance was nil at September 30, 2019 and June 30, 2019. The derivative liabilities balance consisted of the 2,180 Agent Warrants at September 30, 2019 and 2018, and at June 30, 2019.

 

Changes in the Company's derivative liability are summarized as follows:

 

    Three months ended  
    September 30,  
    2019     2018  
    $     $  
             
Opening balance     -       1,117  
Change in fair value of warrants     -       220  
                 
Closing balance     -       1,337  
Less current portion     -       -  
                 
Long term portion     -       1,337