Annual report pursuant to Section 13 and 15(d)

Deferred Costs - Summary of Deferred Costs (Detail)

v3.20.2
Deferred Costs - Summary of Deferred Costs (Detail) - USD ($)
Jun. 30, 2020
Jun. 30, 2019
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]    
Deferred financing costs (note 11) $ 84,944  
Deferred loan costs [1] 93,701  
Balance 178,645 $ 0
Short-term (93,701)  
Long-term $ 84,944  
[1] 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.