2022 Form 10-K Financial Statement

#000149315222019256 Filed on July 14, 2022

View on sec.gov

Income Statement

Concept 2022 2021 Q1 2021
Revenue $7.650M $1.187M $3.385M
YoY Change 126.02% 227.08% 138.75%
Cost Of Revenue $3.080M $468.3K $2.112M
YoY Change 45.84% -22.58% 126.63%
Gross Profit $4.570M $718.7K $1.273M
YoY Change 259.08% -397.05% 162.0%
Gross Profit Margin 59.74% 60.55% 37.6%
Selling, General & Admin $19.30M $3.086M $12.08M
YoY Change 59.8% -17.94% 20.13%
% of Gross Profit 422.28% 429.4% 948.92%
Research & Development $2.745M $551.5K $2.059M
YoY Change 33.29% 14.05% 51.05%
% of Gross Profit 60.05% 76.73% 161.79%
Depreciation & Amortization $2.308K $0.00
YoY Change
% of Gross Profit 0.05% 0.0%
Operating Expenses $22.59M $3.638M $14.62M
YoY Change 54.47% -14.3% 28.1%
Operating Profit -$18.02M -$2.919M -$13.35M
YoY Change 34.97% -34.94% 22.15%
Interest Expense $379.5K -$2.086M -$2.969M
YoY Change -112.78% 3042.84% 3112.89%
% of Operating Profit
Other Income/Expense, Net $15.12K -$363.3K $36.64K
YoY Change -58.73% 701.08% -183.57%
Pretax Income -$29.13M -$5.472M -$15.49M
YoY Change 88.05% 18.99% 39.98%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$29.13M -$5.472M -$15.49M
YoY Change 88.05% 18.99% 39.98%
Net Earnings / Revenue -380.78% -460.94% -457.67%
Basic Earnings Per Share -$0.67 -$0.44
Diluted Earnings Per Share -$640.9K -$140.4K -$412.8K
COMMON SHARES
Basic Shares Outstanding 45.45M shares 37.52M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2022 2021 Q1 2021
SHORT-TERM ASSETS
Cash & Short-Term Investments $12.07M $2.202M $2.202M
YoY Change 448.11% 131.78% 131.78%
Cash & Equivalents $2.202M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $842.9K $272.5K $272.5K
Prepaid Expenses
Receivables $2.007M $1.521M $1.521M
Other Receivables $406.3K $326.7K $326.7K
Total Short-Term Assets $15.32M $4.322M $4.322M
YoY Change 254.57% 160.52% 160.52%
LONG-TERM ASSETS
Property, Plant & Equipment $1.270M $66.12K
YoY Change 1820.99% -75.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $1.355M $116.5K $116.5K
YoY Change 1063.53% -66.3% -66.3%
TOTAL ASSETS
Total Short-Term Assets $15.32M $4.322M $4.322M
Total Long-Term Assets $1.355M $116.5K $116.5K
Total Assets $16.68M $4.438M $4.438M
YoY Change 275.8% 121.41% 121.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.159M $1.041M $1.041M
YoY Change 11.34% -4.82% -4.82%
Accrued Expenses $1.647M $1.479M $1.537M
YoY Change 7.13% 130.82% 139.91%
Deferred Revenue
YoY Change
Short-Term Debt $1.540M $4.278M $4.278M
YoY Change -64.0% 106.84% 106.84%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.867M $10.49M $10.49M
YoY Change -53.61% 175.84% 175.84%
LONG-TERM LIABILITIES
Long-Term Debt $12.48M $370.9K $370.9K
YoY Change 3265.72%
Other Long-Term Liabilities $1.472M $410.0K $410.0K
YoY Change 259.09% -65.88% -65.88%
Total Long-Term Liabilities $13.96M $780.9K $780.9K
YoY Change 1687.06% -35.02% -35.02%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.867M $10.49M $10.49M
Total Long-Term Liabilities $13.96M $780.9K $780.9K
Total Liabilities $18.82M $11.27M $11.27M
YoY Change 67.0% 125.21% 125.21%
SHAREHOLDERS EQUITY
Retained Earnings -$62.82M
YoY Change
Common Stock $39.02K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$2.145M -$6.833M -$6.833M
YoY Change
Total Liabilities & Shareholders Equity $16.68M $4.438M $4.438M
YoY Change 275.8% 121.41% 121.41%

Cashflow Statement

Concept 2022 2021 Q1 2021
OPERATING ACTIVITIES
Net Income -$29.13M -$5.472M -$15.49M
YoY Change 88.05% 18.99% 39.98%
Depreciation, Depletion And Amortization $2.308K $0.00
YoY Change
Cash From Operating Activities -$15.16M -$3.580M -$11.08M
YoY Change 36.84% 21.23% 40.93%
INVESTING ACTIVITIES
Capital Expenditures $29.77K
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$29.77K
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $250.0K $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $25.17M 2.586M $12.20M
YoY Change 106.24% -541.71% 37.44%
NET CHANGE
Cash From Operating Activities -$15.16M -3.580M -$11.08M
Cash From Investing Activities -$29.77K
Cash From Financing Activities $25.17M 2.586M $12.20M
Net Change In Cash $9.975M -993.4K $1.123M
YoY Change 788.53% -71.93% 10.45%
FREE CASH FLOW
Cash From Operating Activities -$15.16M -$3.580M -$11.08M
Capital Expenditures $29.77K
Free Cash Flow -$15.19M -$11.08M
YoY Change 37.11%

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CY2022 us-gaap Nature Of Operations
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<p id="xdx_80F_eus-gaap--NatureOfOperations_zsePN8hk9RF4" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1. <span id="xdx_826_z6e5XGAVeq29">NATURE OF OPERATIONS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Biotricity Inc. (formerly MetaSolutions, Inc.) (the “Company”) was incorporated under the laws of the State of Nevada on August 29, 2012. iMedical Innovations Inc. (“iMedical”) was incorporated on July 3, 2014 under the laws of the Province of Ontario, Canada and became a wholly-owned subsidiary of Biotricity through reverse take-over, which took place on February 2, 2016.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Both the Company and iMedical are engaged in research and development activities within the remote monitoring segment of preventative care. They are focused on a realizable healthcare business model that has an existing market and commercialization pathway. As such, its efforts to date have been devoted in building technology that enables access to this market through the development of a tangible product.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
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<p id="xdx_84F_eus-gaap--RevenueRecognitionLeasesOperating_zgDpU7cdhqra" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span style="text-decoration: underline"><span id="xdx_86F_zdzM3nR5QJIj">Revenue Recognition</span></span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company adopted Accounting Standards Codification Topic 606, “Revenue from Contracts with Customers” (“ASC 606”) on April 1, 2018. In accordance with ASC 606, revenue is recognized when promised goods or services are transferred to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services by applying the core principles – 1) identify the contract with a customer, 2) identify the performance obligations in the contract, 3) determine the transaction price, 4) allocate the transaction price to performance obligations in the contract, and 5) recognize revenue as performance obligations are satisfied.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Bioflux mobile cardiac telemetry device, a wearable device, is worn by patients for a monitoring period up to 30 days. The cardiac data that the device monitors and collects is curated and analyzed by the Company’s proprietary algorithms and then securely communicated to a remote monitoring facility for electronic reporting and conveyance to the patient’s prescribing physician or other certified cardiac medical professional. Revenues earned with respect to this device are comprised of device sales revenues and technology fee revenues (technology as a service). The device, together with its licensed software, is available for sale to the medical center or physician, who is responsible for the delivery of clinical diagnosis and therapy. The remote monitoring, data collection and reporting services performed by the technology culminate in a patient study that is generally billable when it is complete and is issued to the physician. In order to recognize revenue, management considers whether or not the following criteria are met: persuasive evidence of a commercial arrangement exists, and delivery has occurred or services have been rendered. For sales of devices, which are invoiced directly, additional revenue recognition criteria include that the price is fixed and determinable and collectability is reasonably assured; for device sales contracts with terms of more than one year, the Company recognizes any significant financing component as revenue over the contractual period using the effective interest method, and the associated interest income is reflected accordingly on the statement of operations and included in other income; for revenue that is earned based on customer usage of the proprietary software to render a patient’s cardiac study, the Company recognizes revenue when the study ends based on a fixed billing rate. Costs associated with providing the services are recorded as the service is provided regardless of whether or when revenue is recognized.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company may also earn service-related revenue from contracts with other counterparties with which it consults. This contract work is separate and distinct from services provided to clinical customers, but may be with a reseller or other counterparties that are working to establish their operations in foreign jurisdictions or ancillary products or market segments in which the Company has expertise and may eventually conduct business.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_892_eus-gaap--ScheduleOfEntityWideInformationRevenueFromExternalCustomersByProductsAndServicesTextBlock_zcgyKW7R57cd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company recognized the following forms of revenue for the fiscal years ended March 31, 2022 and 2021:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B2_zr8f00IDEm37" style="display: none">SCHEDULE OF REVENUE RECOGNITION</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49A_20210401__20220331_zv64qIA8JzH7" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_499_20200401__20210331_zPVEorcuN4c2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--DeviceSalesMember_zLkctTeTLJg6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Device sales</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 16%; font-weight: bold; text-align: right">995,876</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 16%; font-weight: bold; text-align: right">635,901</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--TechnologyFeesMember_zxfe8czN8Y01" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Technology fees</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">5,904,393</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">2,748,866</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--ServiceRelatedAndOtherRevenueMember_z5D2fDCwCzSh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Service-related and other revenue</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">750,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0703">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zrR56lnczjij" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt"> <span style="display: none; font-family: Times New Roman, Times, Serif">Revenue</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">7,650,269</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; 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CY2021Q4 us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
198713 usd
CY2021Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
50000 usd
CY2021Q4 us-gaap Debt Instrument Frequency Of Periodic Payment
DebtInstrumentFrequencyOfPeriodicPayment
on each February
CY2021Q4 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
193437 usd
CY2021Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
48484 usd
CY2021Q1 us-gaap Derivative Liabilities
DerivativeLiabilities
410042 usd
CY2021Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
121828 usd
CY2021Q4 BTCY Reduction Due To Preferred Shares Redeemed Or Converted
ReductionDueToPreferredSharesRedeemedOrConverted
-472835 usd
CY2021Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease
-644774 usd
CY2021Q4 us-gaap Debt Instrument Date Of First Required Payment1
DebtInstrumentDateOfFirstRequiredPayment1
2022-02-15
CY2021Q4 us-gaap Debt Instrument Payment Terms
DebtInstrumentPaymentTerms
Pursuant to the Credit Agreement, the Company will be required to make interest only payments for the first 24 months (which may be extended to 36 months under prescribed circumstances), after which payments will include principal amortization that accommodates a 40% balloon principal payment at maturity. Prepayment of amounts owing under the Credit Agreement are allowed under prescribed circumstances
CY2021Q4 BTCY Origination Fee Amount
OriginationFeeAmount
120000 usd
CY2021Q4 BTCY Exit Fees
ExitFees
600000 usd
CY2022 us-gaap Interest Expense
InterestExpense
379500 usd
CY2022 us-gaap Investment Company Dividend Distribution
InvestmentCompanyDividendDistribution
153974 usd
CY2021Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease
203525 usd
CY2021Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
206517 usd
CY2021Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Issues
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues
17084 usd
CY2021Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease
101773 usd
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted
7146572 shares
CY2021Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
293767 usd
CY2022Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease
-58635 usd
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
10843202 shares
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Forfeitures And Expirations
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeituresAndExpirations
449174 shares
CY2022Q1 us-gaap Derivative Liabilities
DerivativeLiabilities
352402 usd
CY2021Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
3633856 usd
CY2022Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
125000000 shares
CY2021Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
125000000 shares
CY2022Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2021Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2022Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2021Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2021Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2022Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2022Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
49810322 shares
CY2021Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
36124964 shares
CY2022Q1 us-gaap Common Stock Other Shares Outstanding
CommonStockOtherSharesOutstanding
1466718 shares
CY2021Q1 us-gaap Common Stock Other Shares Outstanding
CommonStockOtherSharesOutstanding
2889978 shares
CY2021 us-gaap Stock Issued During Period Shares Share Based Compensation Gross
StockIssuedDuringPeriodSharesShareBasedCompensationGross
1900042 shares
CY2022 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
250000 shares
CY2022 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
1414449 usd
CY2022Q1 us-gaap Shares Outstanding
SharesOutstanding
123817 shares
CY2021Q1 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
97500 shares
CY2022Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
658355 shares
CY2021Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
97500 shares
CY2022Q1 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
446370 shares
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
5396723 shares
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Forfeitures And Expirations
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeituresAndExpirations
148750 shares
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted
1021430 shares
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
6269403 shares
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Forfeitures And Expirations
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeituresAndExpirations
2475273 shares
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
97500 shares
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
1459918 shares
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted
643534 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
9577644 shares
CY2021Q1 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
41256 usd
CY2022Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
11231073 usd
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000 pure
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000 pure
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000 pure
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.72
CY2021Q1 us-gaap Deferred Tax Assets Other Loss Carryforwards
DeferredTaxAssetsOtherLossCarryforwards
7311800 usd
CY2022Q1 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
16283 usd
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.76
CY2022 BTCY Expected Forfeiture Attrition Rates
ExpectedForfeitureAttritionRates
0.0000 pure
CY2021 BTCY Expected Forfeiture Attrition Rates
ExpectedForfeitureAttritionRates
0.0000 pure
CY2020 BTCY Expected Forfeiture Attrition Rates
ExpectedForfeitureAttritionRates
0.0000 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.26 pure
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-29130477 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-15491176 usd
CY2022 us-gaap Income Tax Reconciliation Tax Exempt Income
IncomeTaxReconciliationTaxExemptIncome
-7573924 usd
CY2021 us-gaap Income Tax Reconciliation Tax Exempt Income
IncomeTaxReconciliationTaxExemptIncome
-4027706 usd
CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
3645962 usd
CY2021 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
1313530 usd
CY2022 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-24972 usd
CY2021 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-38579 usd
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
3952934 usd
CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
2752755 usd
CY2022Q1 us-gaap Deferred Tax Assets Other Loss Carryforwards
DeferredTaxAssetsOtherLossCarryforwards
11214790 usd
CY2021Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
7353056 usd
CY2022Q1 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
43133807 usd
CY2021Q1 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
28122308 usd
CY2022 BTCY Operating Loss Carryforwards Expiration Date Description
OperatingLossCarryforwardsExpirationDateDescription
These losses will expire between 2035 to 2039
CY2022Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.114 pure
CY2021Q1 BTCY Operating Lease Right Of Use Asset Initial Recognition
OperatingLeaseRightOfUseAssetInitialRecognition
1308731 usd
CY2022 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
66031 usd
CY2022Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1242700 usd
CY2021Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
1308730 usd
CY2022 BTCY Operating Lease Repayment And Interest Accretion
OperatingLeaseRepaymentAndInterestAccretion
21608 usd
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
1330338 usd
CY2022Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
210320 usd
CY2022Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1120018 usd
CY2022 BTCY Schedule Of Contractual Undiscounted Cashflows For Lease Obligation Table Textblock
ScheduleOfContractualUndiscountedCashflowsForLeaseObligationTableTextblock
<p id="xdx_89F_ecustom--ScheduleOfContractualUndiscountedCashflowsForLeaseObligationTableTextblock_z2xvQNKAICEa" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B3_zpjuH93dwZc2" style="display: none">SCHEDULE OF CONTRACTUAL UNDISCOUNTED CASH FLOWS FOR LEASE OBLIGATION</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">$</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left">Less than one year</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_c20220331__us-gaap--LeaseContractualTermAxis__custom--LessThanOneYearMember_pp0p0" style="width: 18%; text-align: right" title="Total undiscounted lease obligations">348,565</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Beyond one year</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_c20220331__us-gaap--LeaseContractualTermAxis__custom--BeyondOneYearMember_pdp0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total undiscounted lease obligations">1,368,654</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Total undiscounted lease obligations</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_c20220331_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total undiscounted lease obligations">1,717,219</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table>
CY2022Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1717219 usd
CY2022Q1 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
12928 usd
CY2022Q1 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
16839 usd
CY2022 us-gaap Depreciation
Depreciation
2308 usd
CY2022 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
29767 usd
CY2022Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
29767 usd
CY2022 us-gaap Depreciation
Depreciation
2308 usd
CY2022Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2308 usd
CY2022Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
27459 usd
CY2022 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
60000 shares

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