| 14. | Finance expense |
During the years ended December 31, 2017, 2016 and 2015 the Company incurred finance expense (recorded finance income) as follows:
|
Year ended December 31 |
2017 | 2016 | 2015 | |||||||||
| Interest on MIOP loan | $ | 105,670 | $ | 218,867 | $ | 309,733 | ||||||
| Change in fair value of royalty obligation | 747,540 | 2,271,436 | 3,791,282 | |||||||||
| Change in fair value of warrant liability | - | (1,161 | ) | (35,098 | ) | |||||||
| Other interest, net and banking fees | (15,749 | ) | (10,228 | ) | 57,535 | |||||||
| $ | 837,461 | $ | 2,478,914 | $ | 4,123,452 | |||||||
During the years ended December 31, 2017, 2016 and 2015, the Company paid finance expense (received finance income) as follows:
| Year ended December 31 | 2017 | 2016 | 2015 | |||||||||
| Interest paid on MIOP loan | $ | 88,828 | $ | 186,467 | $ | 256,427 | ||||||
| Other interest, net and banking fees | (15,749 | ) | (10,228 | ) | 57,873 | |||||||
| $ | 73,079 | $ | 176,239 | $ | 314,300 | |||||||