Annual report pursuant to Section 13 and 15(d)

Deferred Costs

Deferred Costs
12 Months Ended
Jun. 30, 2020
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]  
Deferred costs


Deferred costs

The Company has incurred the following deferred costs at June 30, 2020. There were no deferred costs at June 30, 2019.




June 30,




Deferred financing costs (note 11)





Deferred loan costs (i)





Balance - June 30, 2020
















(i) Deferred loan costs include 125,000 share purchase warrants issued in respect of a loan issued to the Company by National Brain Tumor Society (“NBTS”) and the National Foundation for Cancer Research (“NFCR”) valued at $93,701 (“NBTS Warrants”) (Note 11). The NBTS Warrants are exercisable at a price of $1.09 per common share until June 19, 2025. The NBTS Warrants were valued on a Black-Scholes valuation with a risk-free interest rate of 0.37%, term of 5 years, volatility of 89.82% and a dividend rate of 0%.  The estimated volatility of the Company’s common stock at the date of measurement is based on the historical volatility of the Company. The risk-free interest rate is based on rates published by the government for bonds with a maturity similar to the expected remaining life of the instrument at the valuation date. The expected term has been estimated using the remaining life of the warrant.