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INVESTMENTS
 12 Months Ended
Dec. 31, 2021
Disclosure Investments Abstract  
INVESTMENTS

11. INVESTMENTS

 

         
Balance at December 31, 2020   $ -  
Investments     623,706  
Change in fair value     (332,640 )
Balance at December 31, 2021   $ 291,066  

 

Fair value of investments is comprised of:

  .  
      
Public company shares  $

142,857

 
Public company warrants   21,429 
Private company shares   126,780
Balance at December 31, 2021  $291,066 

 

On March 10, 2021, the Company purchased 1,428,571 units of a publicly listed company for $500,000. Each unit is comprised of one common share and one warrant. The warrants have an exercise price of $0.50 each and convert to one common share, and expire on March 17, 2023.

 

The fair values of these warrants were estimated using the Black-Scholes option pricing model with the following weighted average assumptions:

 

SCHEDULE OF WEIGHTED AVERAGE ASSUMPTION FOR FAIR VALUES WARRANTS

   December 31, 2021   March 10, 2021 
Risk free interest rate   0.91%   0.28%
Expected volatility   124.09%   150.88%
Expected life   2 years    2 years 
Expected dividend yield   0%   0%

 

Volatility is calculated using the historical volatility method

 

On October 27, 2021, the Company purchased 50,000 common shares of a private company for USD$100,000. These assets have been recorded at the price of the company’s most recent private placement, and converted to Canadian dollars at the reporting date.