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Kintara Therapeutics, Inc. – ‘S-1/A’ on 7/11/19 – ‘R10’

On:  Thursday, 7/11/19, at 4:17pm ET   ·   Accession #:  1213900-19-12524   ·   File #:  333-232332

Previous ‘S-1’:  ‘S-1’ on 6/25/19   ·   Next:  ‘S-1’ on 8/1/19   ·   Latest:  ‘S-1/A’ on 10/27/23

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 7/11/19  DelMar Pharmaceuticals, Inc.      S-1/A                 71:7.9M                                   Edgar Agents LLC/FA

Pre-Effective Amendment to Registration Statement (General Form)   —   Form S-1
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: S-1/A       Amendment No. 1 to Form S-1                         HTML   1.11M 
 2: EX-23.1     Consent of Ernst & Young, LLP                       HTML     19K 
 9: R1          Document and Entity Information                     HTML     34K 
10: R2          Consolidated Condensed Interim Balance Sheets       HTML     90K 
11: R3          Consolidated Condensed Interim Balance Sheets       HTML     41K 
                (Parenthetical)                                                  
12: R4          Consolidated Condensed Interim Statements of Loss   HTML     63K 
                and Comprehensive Loss                                           
13: R5          Consolidated Statements of Changes in               HTML    112K 
                Stockholders' Equity                                             
14: R6          Consolidated Condensed Interim Statements of Cash   HTML     84K 
                Flows                                                            
15: R7          Going Concern, Nature of Operations, and Corporate  HTML     40K 
                History                                                          
16: R8          Significant Accounting Policies                     HTML     81K 
17: R9          Valent Technologies, LLC                            HTML     28K 
18: R10         Derivative Liability                                HTML     61K 
19: R11         Stockholders' Equity                                HTML    227K 
20: R12         Financial Instruments                               HTML     36K 
21: R13         Related Party Transactions                          HTML     22K 
22: R14         Current and Deferred Income Taxes                   HTML     37K 
23: R15         Commitments and Contingencies                       HTML     25K 
24: R16         Supplementary Statement of Cash Flows Information   HTML     31K 
25: R17         Financial Risk Management                           HTML     34K 
26: R18         Subsequent Events                                   HTML     32K 
27: R19         Significant Accounting Policies (Policies)          HTML    129K 
28: R20         Significant Accounting Policies (Tables)            HTML     25K 
29: R21         Derivative Liability (Tables)                       HTML     57K 
30: R22         Stockholders' Equity (Tables)                       HTML    202K 
31: R23         Financial Instruments (Tables)                      HTML     28K 
32: R24         Current and Deferred Income Taxes (Tables)          HTML     47K 
33: R25         Supplementary Statement of Cash Flows Information   HTML     30K 
                (Tables)                                                         
34: R26         Financial Risk Management (Tables)                  HTML     33K 
35: R27         Going Concern, Nature of Operations, and Corporate  HTML     37K 
                History (Details)                                                
36: R28         Significant Accounting Policies (Details)           HTML     30K 
37: R29         Significant Accounting Policies (Details Textual)   HTML     45K 
38: R30         Valent Technologies, LLC (Details)                  HTML     49K 
39: R31         Derivative Liability (Details)                      HTML     37K 
40: R32         Derivative Liability (Details 1)                    HTML     41K 
41: R33         Derivative Liability (Details Textual)              HTML     71K 
42: R34         Stockholders' Equity (Details)                      HTML    100K 
43: R35         Stockholders' Equity (Details 1)                    HTML     30K 
44: R36         Stockholders' Equity (Details 2)                    HTML     37K 
45: R37         Stockholders' Equity (Details 3)                    HTML     40K 
46: R38         Stockholders' Equity (Details 4)                    HTML    118K 
47: R39         Stockholders' Equity (Details 5)                    HTML     38K 
48: R40         Stockholders' Equity (Details 6)                    HTML     30K 
49: R41         Stockholders' Equity (Details 7)                    HTML     51K 
50: R42         Stockholders' Equity (Details 8)                    HTML     35K 
51: R43         Stockholders' Equity (Details 9)                    HTML     58K 
52: R44         Stockholders' Equity (Details 10)                   HTML     90K 
53: R45         Stockholders' Equity (Details 11)                   HTML     33K 
54: R46         Financial Instruments (Details)                     HTML     28K 
55: R47         Related Party Transactions (Details)                HTML     23K 
56: R48         Current and Deferred Income Taxes (Details)         HTML     47K 
57: R49         Current and Deferred Income Taxes (Details 1)       HTML     44K 
58: R50         Current and Deferred Income Taxes (Details          HTML     46K 
                Textual)                                                         
59: R51         Commitments and Contingencies (Details)             HTML     27K 
60: R52         Stockholders' Equity (Details Textual)              HTML     91K 
61: R53         Stockholders' Equity (Details Textual 1)            HTML     66K 
62: R54         Stockholders' Equity (Details Textual 2)            HTML     52K 
63: R55         Stockholders' Equity (Details Textual 3)            HTML     46K 
64: R56         Supplementary Statement of Cash Flows Information   HTML     43K 
                (Details)                                                        
65: R57         Financial Risk Management (Details)                 HTML     27K 
66: R58         Financial Risk Management (Details 1)               HTML     28K 
67: R59         Financial Risk Management (Details Textual)         HTML     48K 
68: R60         Subsequent Events (Details)                         HTML     51K 
70: XML         IDEA XML File -- Filing Summary                      XML    133K 
69: EXCEL       IDEA Workbook of Financial Reports                  XLSX    101K 
 3: EX-101.INS  XBRL Instance -- dmpi-20190331                       XML   2.20M 
 5: EX-101.CAL  XBRL Calculations -- dmpi-20190331_cal               XML    142K 
 6: EX-101.DEF  XBRL Definitions -- dmpi-20190331_def                XML    703K 
 7: EX-101.LAB  XBRL Labels -- dmpi-20190331_lab                     XML   1.14M 
 8: EX-101.PRE  XBRL Presentations -- dmpi-20190331_pre              XML    897K 
 4: EX-101.SCH  XBRL Schema -- dmpi-20190331                         XSD    211K 
71: ZIP         XBRL Zipped Folder -- 0001213900-19-012524-xbrl      Zip    171K 


‘R10’   —   Derivative Liability


This is an IDEA Financial Report.  [ Alternative Formats ]



 
v3.19.2
Derivative Liability
9 Months Ended 12 Months Ended
Derivative Instruments and Hedging Activities Disclosure [Abstract]    
Derivative liability
4Derivative 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 
   March 31, 
   2019   2018 
   $   $ 
         
Opening balance   76    5,549 
Change in fair value of warrants   189    (2,160)
           
Closing balance   265    3,389 
Less current portion   -    (5)
           
Long term portion   265    3,384 

 

   Nine months ended 
   March 31, 
   2019   2018 
   $   $ 
         
Opening balance   1,117    61,228 
Change in fair value of warrants   (852)   (57,839)
           
Closing balance   265    3,389 
Less current portion   -    (5)
           
Long term portion   265    3,384 
           

 

The derivative liability consists of the following warrants:

 

   March 31, 2019 
   Number of warrants   $ 
         
2015 Agent Warrants   2,177    265 
           
Closing balance   2,177    265 
Less current portion   -    - 
           
Long-term portion   2,177    265

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 remeasured at fair value each reporting period with the changes in fair value recorded in the consolidated statement of operations and comprehensive loss.

 

2013 Investor Warrants

 

During the quarter ended March 31, 2013 the Company issued an aggregate of 328,125 units at a purchase price of $32.00 per unit, for aggregate gross proceeds of $10,500,000. Each unit consisted of one share of common stock and one five-year warrant (the “2013 Investor Warrants”) to purchase one share of common stock at an initial exercise price of $32.00. The exercise price of the 2013 Investor Warrants is subject to adjustment in the event that the Company issues common stock at a price lower than the exercise price, subject to certain exceptions. The 2013 Investor Warrants are redeemable by the Company at a price of $0.04 per 2013 Investor Warrant at any time subject to the conditions that (i) the Company’s common stock has traded for twenty (20) consecutive trading days with a closing price of at least $64.00 per share with an average trading volume of 50,000 shares per day, and (ii) the underlying shares of common stock are registered for resale.

 

As a result of the financing completed by the Company during the three months ended September 30, 2015, the exercise price of all of the 2013 Investor Warrants was reduced from $32.00 to $31.40. As a result of the financing completed by the Company during the three months ended September 30, 2017, the exercise price of certain of the 2013 Investor Warrants was further reduced from $31.40 to $26.80. The change in exercise price did not result in a material change in the fair value of the derivative liability. All of the 2013 Investor Warrants giving rise to their respective portion of the derivative liability have expired as of June 30, 2018.

 

2013 Investor Warrant exercises

 

During the year ended June 30, 2017, 6,010 of the 2013 Investor Warrants were exercised at an exercise price of $31.40 per share. Also, 500 of the previously amended 2013 Investor Warrants were exercised. The Company received proceeds of $204,659 from these exercises. The warrants that have been exercised were revalued at their respective exercise dates and then the reclassification to equity was recorded resulting in $238,474 of the derivative liability being reclassified to equity.

 

There were no exercises of 2013 Investor Warrants during the year ended June 30, 2018.

 

2013 Investor Warrant amendments

 

During the year ended June 30, 2017, 1,594 of the 2013 Investor Warrants were amended. As a result, the Company has reclassified $53,006 from the derivative liability to equity. The 2013 Investor Warrants were revalued to their respective amendment dates and were then reclassified to equity.

 

There were no amendments of 2013 Investor Warrants during the year ended June 30, 2018.

 

2015 Agent Warrants

 

As part of the Company’s financing completed in a prior period, the Company issued warrants to purchase 2,348 shares of common stock to certain placement agents (“2015 Agent Warrants”) and recognized them as a derivative liability of $29,594 at the time of issuance. The 2015 Agent Warrants are exercisable at a per share price equal to $30.00 until July 15, 2020. During the year ended June 30, 2017, 68 of the 2015 Agent Warrants were exercised for cash proceeds of $2,040 and 100 of the 2015 Agent Warrants were exercised on a cashless basis for 59 shares of common stock. The total reclassification to equity subsequent to revaluation at the respective exercise dates was $9,935.

 

There were no exercises of the 2015 Agent Warrants during the year ended June 30, 2018.

 

The Company’s derivative liability is summarized as follows:

   Years ended
June 30,
 
   2018
$
   2017
$
 
Opening balance   61,228    693,700 
Change in fair value of warrants   (60,111)   (331,057)
Reclassification to equity upon amendment of warrants       (53,006)
Reclassification to equity upon exercise of warrants       (248,409)
           
Closing balance   1,117    61,228 
Less current portion       (33,091)
           
Long-term portion   1,117    28,137 

 

The derivative liability consists of the following warrants as at June 30, 2018 and 2017:

   Year ended
June 30, 2018
 
   Number of
warrants
   $ 
Warrants issued for services   4,375     
2015 Agent warrants   2,177    1,117 
           
Closing balance   6,552    1,117 
Less current portion        
           
Long-term portion   6,552    1,117 

 

   Year ended
June 30, 2017
 
   Number of
warrants
   $ 
2013 investor warrants   10,513    33,091 
Warrants issued for services   4,375    4,468 
2015 Agent warrants   2,177    23,669 
           
Closing balance   17,065    61,228 
Less current portion   (10,513)   (33,091)
           
Long-term portion   6,552    28,137 

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘S-1/A’ Filing    Date    Other Filings
7/15/20
Filed on:7/11/19CORRESP
3/31/1910-Q
6/30/1810-K
9/30/1710-Q
6/30/1710-K,  4
9/30/1510-Q
3/31/1310-Q
 List all Filings 
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Filing Submission 0001213900-19-012524   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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