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v3.23.1

Condensed Interim Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended
--- | ---
Mar. 31, 2023 | Mar. 31, 2022
OPERATING ACTIVITIES |  |
Loss for the period | $ (1,326,889) | $ (3,355,418)
Items not affecting cash: |  |
Amortization (Note 7) | 73,601 | 74,494
Amortization of intangible assets (Note 10) | 686,353 | 637,690
Finance expense |  | 24,358
Loss on sale of equipment | 2,659 |
Accrued interest | 2,149 | 6,982
Effect of foreign exchange | (10,012) | 25,066
Change in fair value of warrant liability |  | (227,997)
Share-based compensation | (1,247,113) | 508,403
Changes in non-cash working capital items: |  |
Receivables | 26,182 | 52,590
Prepaids and other assets | (179,126) | (163,710)
Deferred revenue | (23,867) | (59,535)
Accounts payable and accrued liabilities | (261,896) | (69,414)
Cash used in operating activities | (2,257,959) | (2,546,492)
FINANCING ACTIVITIES |  |
Repayment of notes payable – related party | (36,795) | (65,396)
Proceeds from warrant exercises | 4,446,200 |
Proceeds from share issuances | 2,250,000 | 7,876,960
Payments for lease liabilities | (65,788) | (63,562)
Payments of share issuance costs | (226,544) | (725,907)
Cash provided by financing activities | 6,367,073 | 7,022,095
INVESTING ACTIVITIES |  |
Purchase of equipment |  | (17,850)
Proceeds from sale of equipment | 1,000 |
Development of intangible assets | (9,550) | (777,263)
Cash used in investing activities | (8,550) | (795,113)
Change in cash during the period | 4,100,564 | 3,680,490
Cash - Beginning of period | 1,178,846 | 1,678,156
Cash - End of period | $ 5,279,410 | $ 5,358,646

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