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Basis of Presentation and Previous IFRS Amount Correction

12 Months Ended

Dec. 31, 2025

Basis of Presentation and Previous Ifrs Amount Correction [Abstract]

BASIS OF PRESENTATION AND PREVIOUS IFRS AMOUNT CORRECTION

NOTE 2 – BASIS OF PRESENTATION AND PREVIOUS IFRS AMOUNT CORRECTION

The Company’s consolidated financial statements are expressed in United State dollars. These consolidated financial statements have been prepared in accordance with U.S. GAAP.

Under U.S. federal securities laws, issuers must assess their foreign private issuer status as of the last business day of their second fiscal quarter. As of June 30, 2025, it was determined that more than 50% of the Company’s common shares are held by U.S. stockholders, and the Company no longer meets the definition of a foreign private issuer under the United States securities laws. As a result, beginning January 1, 2026, the Company is required to use forms and rules prescribed for U.S. domestic companies, including the requirement that financial statements be presented in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) instead of International Financial Reporting Standards (“IFRS”) as issued by the IASB.

These consolidated financial statements have been prepared in accordance with U.S. GAAP effective for the financial year ended December 31, 2025. Comparative figures, which were previously presented in accordance with IFRS have been retrospectively adjusted to conform to the Company’s accounting policies under U.S. GAAP.

The transition to U.S. GAAP was made retrospectively for all periods from the Company’s inception. The cumulative effect of the transition from IFRS to U.S. GAAP for periods prior to those presented has been recorded as an adjustment to the opening accumulated deficit as of January 1, 2024, resulting in a change from $69,328,021 to $67,092,885.

2024 IFRS Financial Statement Correction

The Company identified errors in financial statements in accordance with IFRS for the year ended December 31, 2024. The Company has corrected herein consolidated financial statements in accordance with U.S. GAAP as at December 31, 2024 and for the year ended December 31, 2024.

Specifically, the Company recognized a forfeiture of stock options and operating expenses, subsequent to the filing of its Annual Report on Form 20-F, which resulted in an overstatement of stock-based compensation expense of $212,624 and an understatement of professional and consulting fees of $79,544, for the year ended December 31, 2024. Management evaluated the error in accordance with SEC Staff Accounting Bulletin No. 99 (Materiality) and SAB No. 108 (Considering the Effects of Prior Year Misstatements), considering both quantitative and qualitative factors. Management concluded that the error was not material to the previously issued financial statements; however, correcting the error solely in the current period would result in a material misstatement of the current period financial statements. Accordingly, the Company has corrected the error by revising the comparative prior period financial statements presented herein. The adjustments are presented in the consolidated balance sheet, consolidated Statements of comprehensive loss, the consolidated Statements of changes in shareholders’ equity and consolidated Statements of cash flow.

The previously recognized stock option expenses have been adjusted by recalculation due to not recognizing forfeiture of some employees.

		Originally reported				Adjustment				Currently reported
General and administrative - Stock option expense (recapture)		$	149,507			$	(212,624	)		$	(63,117	)
Reserve		$	149,507			$	(212,624	)		$	(63,117	)

The Company identified operating expense cut off issues, which certain expenses recorded in 2025 should have been accrued in 2024. The previously recognized general and administrative expenses have been adjusted by $79,544.

		Originally reported				Adjustment				Currently reported
General and administrative - professional and consulting		$	2,405,487			$	79,544			$	2,485,031
Accounts payable		$	1,254,187			$	79,544			$	1,333,731

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- Definition

The entire disclosure for the business description and basis of presentation concepts. Business description describes the nature and type of organization including but not limited to organizational structure as may be applicable to holding companies, parent and subsidiary relationships, business divisions, business units, business segments, affiliates and information about significant ownership of the reporting entity. Basis of presentation describes the underlying basis used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483426/235-10-50-4

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 205
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/205/tableOfContent

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