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Derivative Liabilities (Tables)
9 Months Ended
Sep. 30, 2024
Derivative Liabilities [Line Items]  
Schedule of Common Stock Purchase Derivative Liability Warrants A continuity of the Company’s common stock purchase derivative liability warrants is as follows:
   Derivative
liabilities
 
Outstanding, December 31, 2022  $68,455 
Addition of new derivatives during IPO   229,437 
Change in fair value of derivative liabilities   71,266 
Outstanding, December 31, 2023  $369,158 
Change in fair value of derivative liabilities   (367,277)
Outstanding, September 30, 2024  $1,881 
Schedule of Black-Scholes Option Pricing Model The following assumptions were used in the Black-Scholes option pricing model:
   Initial
recognition
 
Risk-free interest rate  5.12-5.44% 
Expected life  0.5-1 years 
Expected dividend rate  0.00% 
Expected volatility  100% 
Derivative liabilities [Member]  
Derivative Liabilities [Line Items]  
Schedule of Black-Scholes Option Pricing Model The following assumptions were used in the Black-Scholes option pricing model:
   September 30,
2024
   December 31,
2023
   November 21,
2023
   December 31,
2022
   July 15,
2022
 
Risk-free interest rate   3.58%   3.84 - 4.01%    4.41%   4.73%   3.12%
Expected life 1   2.57 – 4.15 years    3.32 – 4.90 years    5 years    0.75 years    0.6 years 
Expected dividend rate   0%   0%   0.00%   0.00%   0.00%
Expected volatility   100%   100%   100%   100%   100%
1On April 28, 2023, the Company amended the warrant agreements for the 231,828 derivative liability warrants outstanding. The amendment removed the clause to automatically convert warrants to shares on IPO date and all warrants were given an expiry date of April 27, 2027. This led to an increase in the expected life input in the Black-Scholes model as of December 31, 2023, compared to December 31, 2022, when the Company used the expected IPO date to calculate the expected life of the warrants.
Schedule of Derivative Liability Warrants Outstanding As of September 30, 2024, the following derivative liability warrants were outstanding:
Outstanding   Expiry date1  Weighted average
exercise price ($)
 
 75,840   April 27, 2027   2.01 
 63,037   April 27, 2027   2.01 
 80,388   April 27, 2027   2.01 
 12,563   April 27, 2027   2.01 
 75,000   November 21, 2028   4.00 
 306,828       2.50 
1On April 28, 2023, the Company amended the warrant agreements for the 231,828 derivative liability warrants outstanding. The amendment removed the clause to automatically convert warrants to shares on IPO date and all warrants were given an expiry date of April 27, 2027. This led to an increase in the expected life input in the Black-Scholes model as of December 31, 2023, compared to December 31, 2022, when the Company used the expected IPO date to calculate the expected life of the warrants.