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Share Capital, Warrants and Options (Tables)
 9 Months Ended
Sep. 30, 2019
SHARE CAPITAL, WARRANTS AND OPTIONS  
Schedule of Number and Weighted Average Exercise Prices of Warrants

A summary of common share purchase warrants activity during the nine months period ended September 30, 2019 on a post-consolidation basis is as follows:

 

    September 30, 2019     December 31, 2018  
    Number Outstanding     Weighted Average Exercise Price     Number Outstanding     Weighted Average Exercise Price  
Outstanding, beginning of the period     25,797,283       1.20       17,617,541       1.20  
Issued     -       -       11,666,666       1.20  
Cancelled / Expired     (14,130,617 )     1.20       (3,486,924 )     1.20  
                                 
Outstanding, end of the period     11,666,666       1.20       25,797,284       1.20  
Schedule of Number and Weighted Average Remaining Contractual Life of Outstanding Warrants

At September 30, 2019, the Company had outstanding common share purchase warrants exercisable to acquire common shares of the Company as follows:

 

Warrants Outstanding     Expiry Date   Exercise Price ($)     Weighted Average remaining contractual life (years)  
  11,666,666     April 19, 2020     1.20       0.55  
  11,666,666                   0.55  
Schedule of Number and Weighted Average Exercise Prices of Share Options

A summary of option activity under the Plan during the nine months period ended September 30, 2019 on a post-consolidation basis is as follows:

 

    September 30, 2019     December 31, 2018  
    Number Outstanding     Weighted Average Exercise Price     Number Outstanding     Weighted Average Exercise Price  
Outstanding, beginning of the period     2,594,550       1.80       2,072,050       2.30  
Issued     -       -       6,425,000       1.20  
Cancelled / Expired     (329,000 )     5.10       (1,200,000 )     1.80  
                                 
Outstanding, end of the period     2,265,550       1.60       25,945,500       0.18  
Schedule of Inputs to Option Pricing Model

The fair value of stock options granted and vested during the period ended September 30, 2018 was calculated using the following assumptions:

 

    September 30, 2019     September 30, 2018  
Expected dividend yield     -       0 %
Expected share price volatility     -       96.9% -101 %
Risk free interest rate     -       2.04%-2.17 %
Expected life of options     -       5 years  
Schedule of Number and Weighted Average Remaining Contractual Life of Outstanding Share Options

Details of options outstanding as at September 30, 2019 on a post-consolidation basis are as follows:

 

Options

Outstanding

    

Options

Exercisable

    

Expiry

Date

  

Exercise

Price

     Weighted average remaining contractual life (years)  
  35,000       35,000     Nov 5, 20191     2.10       0.00  
  100,000       100,000     Dec 19, 2019     2.20       0.01  
  90,000       90,000     Feb 3, 2020     2.75       0.01  
  45,000       45,000     Oct 5, 2020     2.00       0.02  
  541,800       541,800     Jan 28, 2021     2.10       0.32  
  763,750       763,750     Feb 21, 2022     1.20       0.81  
  50,000       50,000     Dec 20, 2022     1.20       0.07  
  570,000       570,000     Feb 28, 2023     1.20       0.86  
  50,000       50,000     May 1, 2023     1.20       0.08  
  20,000       20,000     May 4, 2023     1.20       0.03  
  2,265,550       2,265,550                   2.21  

 

1 Subsequently expired, unexercised.