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Share Capital, Warrants and Options (Tables)
9 Months Ended
Sep. 30, 2020
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, 2020, on a post-consolidation basis is as follows:

 

    September 30, 2020     December 31, 2019  
    Number Outstanding    

Weighted Average
Exercise Price

($)

    Number Outstanding    

Weighted Average
Exercise Price

($)

 
Outstanding, beginning of the period     15,651,397       0.96       25,797,283       1.20  
Issued     21,731,011       0.09       3,984,731       0.25  
Cancelled / expired     (11,666,666 )     1.20       (14,130,617 )     1.20  
                                 
Outstanding, end of the period     25,715,742       0.11       15,651,397       0.96  

Schedule of Number and Weighted Average Remaining Contractual Life of Outstanding Warrants

At September 30, 2020, 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)  
  3,984,731     December 18, 2021     0.25       0.19  
  16,045,231     August 13, 2022     0.09       1.17  
  5,685,780     August 31, 2022     0.09       0.42  
  25,715,742                   1.78  
Schedule of Number and Weighted Average Exercise Prices of Share Options

A summary of option activity under the Plan during the three months period ended September 30, 2020 on a post-consolidation basis is as follows:

 

    September 30, 2020     December 31, 2019  
    Number Outstanding     Weighted Average Exercise Price ($)     Number Outstanding     Weighted Average Exercise Price ($)  
Outstanding, beginning of the period     2,130,550       1.51       2,594,550       1.80  
Issued     7,850,000       0.15       -       -  
Cancelled / expired     (170,000 )     2.10       (464,000 )     4.23  
                                 
Outstanding, end of the period     9,810,550       0.41       2,130,550       1.51  
Schedule of Inputs to Option Pricing Model

The fair value of stock options granted and vested during the nine months period ended September 30, 2020 was calculated using the following assumptions:

 

    September 30, 2020     September 30, 2019  
Expected dividend yield     0 %     -  
Expected share price volatility     121.55% - 125.025       -  
Risk free interest rate     0.39% - 1.21 %     -  
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, 2020 on a post-consolidation basis are as follows:

 

Options

Outstanding

   

Options

Exercisable

   

Expiry

Date

 

Exercise

Price ($)

    Weighted average remaining contractual life (years)  
  45,000       45,000     Oct 5, 2020     2.00       0.00  
  526,800       526,800     Jan 28, 2021     2.10       0.02  
  738,750       738,750     Feb 21, 2022     1.20       0.10  
  50,000       50,000     Dec 20, 2022     1.20       0.01  
  530,000       530,000     Feb 28, 2023     1.20       0.13  
  50,000       50,000     May 1, 2023     1.20       0.01  
  20,000       20,000     May 4, 2023     1.20       0.01  
  6,650,000       6,650,000     Feb 24, 2025     0.16       2.99  
  1,200,000       1,200,000     Aug 19, 2025     0.09       0.60  
  9,810,550       9,810,550                   3.87