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INVESTMENTS
 6 Months Ended
Jun. 30, 2023
Disclosure of detailed information about investment property [abstract]  
INVESTMENTS

9. INVESTMENTS

 

      
Balance at December 31, 2022  $192,583 
Change in fair value   96,960 
Balance at June 30, 2023  $289,543 

 

Fair value of investments is comprised of:

 

      
Public company shares  $157,143 
Private company shares   132,400 
Balance at June 30, 2023  $289,543 

 

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 expired on March 17, 2023. The fair values of these warrants were estimated using the Black-Scholes Option Pricing Model with the following assumptions:

 

As at  December 31, 2022 
Risk free interest rate   4.07%
Expected volatility   116.00%
Expected life   0.21 years 
Expected dividend yield   0%

 

On October 27, 2021, the Company purchased 50,000 common shares of a private company for US$100,000. The Company considers if observable market data exists on a quarterly basis to value the investment. Since inception, the Company has not had any adjustments to the fair value of the investment based on observable market data.