XML 73 R44.htm IDEA: XBRL DOCUMENT v3.24.1
SHARE CAPITAL (Tables)
 12 Months Ended
Dec. 31, 2023
SCHEDULE OF STOCK OPTIONS OUTSTANDING AND EXERCISABLE

As at December 31, 2023, the Company had the following options outstanding and exercisable:

 

Grant Date  Expiry Date  Exercise Price   Remaining Contractual Life (years)   Number of Options Outstanding   Number of Options Exercisable 
October 30, 2019  October 30, 2029  $2.50    5.84    278,332    278,332 
November 19, 2019  November 19, 2029  $2.50    5.89    50,000    50,000 
April 30, 2020  April 30, 2030  $2.50    6.33    85,000    85,000 
April 30, 2020  April 30, 2030  $3.85    6.33    110,000    110,000 
July 3, 2020  July 3, 2025  $3.20    1.51    100,000    100,000 
November 24, 2020  November 24, 2030  $2.50    6.90    32,000    32,000 
February 2, 2021  February 2, 2031  $13.20    7.10    30,000    30,000 
March 8, 2021  March 8, 2026  $13.90    2.19    10,000    10,000 
April 27, 2021  April 27, 2031  $10.15    7.33    146,000    97,326 
September 9, 2021  September 9, 2026  $4.84    2.69    25,826    17,217 
November 9, 2023  November 9, 2033  $0.626    9.87    30,000    10,000 
                 897,158    819,875 
SCHEDULE OF STOCK OPTIONS OUTSTANDING

   Number of Options   Weighted Average Exercise Price 
Outstanding, December 31, 2021   1,035,991   $4.60 
Exercised   (12,500)   2.15 
Forfeited   (146,334)   4.77 
Outstanding, December 31, 2022   877,157   $4.60 
Forfeited   (9,999)   3.77 
Issued   30,000    0.63 
Outstanding, December 31, 2023   897,158   $4.48 
SCHEDULE OF WEIGHTED AVERAGE ASSUMPTIONS

 

Year ended December 31,  December 31, 2023   December 31, 2022 
Risk free interest rate   4.58%   - 
Expected volatility   115.1%   - 
Expected life   10    - 
Expected dividend yield   0%   - 
Exercise price  $0.63   $- 
SUMMARY OF CHANGES IN RESTRICTED STOCK UNITS

As at December 31, 2023, the Company had the following RSUs outstanding:

 

   Number of RSU’s 
Outstanding, December 31, 2021   514,832 
Vested   (1,072,595)
Issued    1,820,972 
Forfeited   (64,334)
Outstanding, December 31, 2022   1,198,875 
Vested   (1,508,255)
Issued    1,685,316 
Forfeited   (262,969)
Outstanding, December 31, 2023   1,112,967 
SCHEDULE OF WARRANT DERIVATIVE LIABILITY

Warrant Derivative Liability

 

Balance at December 31, 2021  $4,865,772 
Change in fair value of warrants outstanding   (4,865,772)
Balance at December 31, 2022  $- 
Warrants issued   3,985,015 
Change in fair value of warrants outstanding   211,110
Balance at December 31, 2023  $4,196,125 

 

Derivative liability balance at  December 31, 2023   December 31, 2022 
Warrants  $4,196,125   $- 
Contingent consideration   -    57,314 
Ending balance  $4,196,125   $57,314 
SCHEDULE OF WARRANT AND FAIR VALUE OUTSTANDING

Details of these warrants and their fair values are as follows:

 

Issue Date  Exercise Price   Number of Warrants Outstanding at December 31, 2023   Fair Value at December 31, 2023   Number of Warrants Outstanding at December 31, 2022   Fair Value at December 31, 2022 
February 5, 2021 (1)  US$ 3.55    -   $-    1,319,675   $- 
March 5, 2021 (2)  US$  3.55    -    -    5,142,324    - 
October 30, 2023 (3)  US$ 0.6123    6,400,000    3,180,543    -    - 
October 30, 2023 (4)  US$0.0001    1,600,000    1,015,582    -    - 
         8,000,000   $4,196,125    6,461,999   $- 

 

  1) The warrants expired on February 5, 2023.
  2) The warrants expired on March 5, 2023.
  3) The warrants expire October 30, 2028.
  4) The warrants have no expiry date.
SCHEDULE OF WEIGHTED AVERAGE ASSUMPTION FOR WARRANTS

The fair values of these warrants were estimated using the Black-Scholes Option Pricing Model with the following weighted average assumptions:

 

   December 31, 2023   December 31, 2022 
Risk free interest rate   3.84%   4.07%
Expected volatility   113.78%   91.66%-93.48% 
Expected life   4.8 years    0.10-0.18 years 
Expected dividend yield   0%   0%
SUMMARY OF CHANGES IN WARRANTS

   Number of Warrants   Weighted Average Exercise Price 
Outstanding, December 31, 2021   8,414,819   $4.99 
Exercised   (16,538)   4.51 
Issued   (481,484)   4.61 
Outstanding, December 31, 2022   7,916,797   $5.08 
Issued   8,320,000    0.50 
Expired   (7,661,999)   5.89 
Outstanding December 31, 2023   8,574,798   $0.63 
SCHEDULE OF WARRANTS OUTSTANDING

As at December 31, 2023, the Company had the following warrants outstanding:

 

Date issued  Expiry date  Exercise price   Number of warrants outstanding 
July 29, 2021  July 29, 2024  US$ 5.00    250,000 
September 14, 2021  September 14, 2024  US$5.00    4,798 
October 30, 2023  October 30, 2026  US$0.6875    320,000 
October 30, 2023  October 30, 2028  US$0.6123    6,400,000 
October 30, 2023  No expiry date  US$0.0001    1,600,000 
            8,574,798