Consolidated Statements of Cash Flows
|
12 Months Ended |
|
Mar. 31, 2022
USD ($)
|
Mar. 31, 2021
USD ($)
|
| Cash flows from operating activities: |
|
|
| Net loss |
$ (84,424,529)
|
$ (124,264,230)
|
| Adjustments: |
|
|
| Depreciation of property, plant and equipment |
2,723,751
|
3,961,317
|
| Non-cash lease expense |
710,984
|
320,669
|
| Amortization of intangible assets |
3,356,728
|
15,100,717
|
| Impairment loss on goodwill |
3,288,847
|
26,898,016
|
| Share-based payment |
7,816,845
|
9,885,138
|
| Impairment loss on inventories |
3,772,066
|
18,962,254
|
| Expected credit losses |
1,675,390
|
6,995,747
|
| Non-employee compensation related to warrants |
178,917
|
1,903,571
|
| Net finance expense |
2,136,855
|
961,036
|
| Unrealized foreign exchange gain |
(117,297)
|
(1,794,737)
|
| Change in revaluation of marketable securities |
107,203
|
(169,216)
|
| Interest received |
8,649
|
37,911
|
| Interest paid |
(970,900)
|
(689,574)
|
| Revaluation of derivatives |
(7,035,118)
|
(7,974,549)
|
| Impairment loss on property, plant and equipment |
14,765,582
|
10,747,692
|
| Impairment loss on right-of-use assets |
|
107,650
|
| Impairment loss on intangibles |
1,527,000
|
|
| Payment of lease liabilities |
(703,686)
|
(343,064)
|
| Income taxes expense (recovery) |
|
(3,477,711)
|
| Net loss from sale of property, plant and equipment |
|
(2,635)
|
| Changes in operating assets and liabilities |
(3,163,414)
|
(13,811,460)
|
| Net cash used in operating activities |
(54,346,127)
|
(56,645,458)
|
| Cash flows from investing activities: |
|
|
| Maturity of previously restricted short-term investments |
|
9,037
|
| Acquisition of a subsidiary, net of cash acquired |
|
(3,137,242)
|
| Acquisition of property, plant and equipment |
(1,938,870)
|
(6,618,016)
|
| Acquisition of intangible assets |
(432,714)
|
(389,784)
|
| Proceeds from sale of property, plant and equipment |
|
14,503
|
| Sales of Acasti shares |
44,360
|
|
| Net cash used in investing activities: |
(2,327,224)
|
(10,121,502)
|
| Cash flows from financing activities: |
|
|
| Repayment of loans and borrowings |
|
(2,457,839)
|
| Withholding taxes paid pursuant to the settlement of non-treasury RSUs |
(1,411,515)
|
(717,135)
|
| Issuance of shares and warrants costs |
(636,847)
|
(6,174,452)
|
| Proceeds from exercise of options and pre-funded warrants |
650
|
7,478,960
|
| Net cash provided by financing activities: |
5,952,288
|
115,000,959
|
| Foreign exchange loss on cash and cash equivalents |
(389,485)
|
(185,672)
|
| Net increase (decrease) in cash and cash equivalents |
(51,110,548)
|
48,048,327
|
| Cash and cash equivalents, beginning of period |
59,836,889
|
11,788,562
|
| Cash and cash equivalents as at March 31, 2022 and 2021 |
8,726,341
|
59,836,889
|
| Cash and cash equivalents is comprised of: |
|
|
| Cash and cash equivalents |
8,726,341
|
59,836,889
|
| At-The-Market Offering |
|
|
| Cash flows from financing activities: |
|
|
| Net proceeds from share issuance |
|
13,736,868
|
| Direct Offering |
|
|
| Cash flows from financing activities: |
|
|
| Proceeds from the issuance of shares and warrants |
$ 8,000,000
|
12,833,713
|
| Private Placement |
|
|
| Cash flows from financing activities: |
|
|
| Proceeds from the issuance of shares and warrants |
|
35,300,844
|
| Registered Direct Offering Priced At-the-market and Concurrent Private Placement |
|
|
| Cash flows from financing activities: |
|
|
| Proceeds from the issuance of shares and warrants |
|
$ 55,000,000
|