Quarterly report pursuant to Section 13 or 15(d)

Derivative Liability

v3.20.1
Derivative Liability
9 Months Ended
Mar. 31, 2020
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 March 31, 2020 and June 30, 2019. The derivative liabilities balance consisted of 2,180 agent warrants at March 31, 2020 and June 30, 2019.

 

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

 

    Three months ended  
    March 31,  
    2020     2019  
    $     $  
             
Opening balance     -       76  
Change in fair value of warrants     -       189  
                 
Closing balance     -       265  
Less current portion     -       -  
                 
Long term portion     -       265  

 

    Nine months ended  
    March 31,  
    2020     2019  
    $     $  
             
Opening balance   -     1,117  
Change in fair value of warrants          -       (852 )
                 
Closing balance     -       265  
Less current portion     -       -  
                 
Long term portion     -       265