Quarterly report pursuant to Section 13 or 15(d)

Derivative Liability

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Derivative Liability
6 Months Ended
Dec. 31, 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.

 

The derivative liabilities balance was zero at December 31, 2019 and June 30, 2019. The derivative liabilities balance consisted of the 2,180 agent warrants at December 31, 2019 and June 30, 2019.

 

    Three months ended  
    December 31,  
    2019     2018  
    $     $  
Opening balance   -     1,337  
Change in fair value of warrants     -       (1,261 )
                 
Closing balance     -       76  
Less current portion     -       -  
                 
Long term portion     -       76  

 

   

Six months ended

 
   

December 31,

 
    2019     2018  
    $     $  
Opening balance     -       1,117  
Change in fair value of warrants     -       (1,041 )
                 
Closing balance     -       76  
Less current portion     -       -  
                 
Long term portion     -       76