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Financial Instruments (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2025

Dec. 31, 2024

The following is a comparison by class of the carrying amounts and fair value of the Company’s financial instruments as at June 30, 2025 and December 31, 2024:

		June 30, 2025				December 31, 2024
Financial assets	Level	Carrying amount		Fair value		Carrying amount		Fair value
		$		$		$		$
Financial assets measured at amortised cost:
Cash and cash held in trust	1		2,529,535		2,529,535		3,841,866		3,841,866
Trade and other receivables	2		4,097		4,097		370,537		370,537
Loan receivable	2		990,688		990,688		955,022		955,022

		June 30, 2025				December 31, 2024
Financial liabilities	Level	Carrying amount		Fair value		Carrying amount		Fair value
		$		$		$		$
Financial liabilities measure at amortised cost:
Trade and other payables	2		2,204,803		2,204,803		2,982,499		2,982,499
Loans and borrowings	2		184,285		184,285		352,814		352,814
Lease liabilities	2		206,956		206,956		-		-
Due to related parties	2		317,784		317,784		302,232		302,232

The following is a comparison by class of the carrying amounts and fair value of the Company’s financial instruments as at December 31, 2024 and 2023:

		December 31, 2024				December 31, 2023
	Level	Carrying amount		Fair value		Carrying amount		Fair value
Financial assets
Financial assets measured at amortised cost:
Cash and cash held in trust	1		3,841,866		3,841,866		93,875		93,875
Trade and other receivables	2		370,537		370,537		284,513		284,513
Loan receivable	2		955,022		955,022		593,232		593,232

Financial liabilities
Financial liabilities measure at amortised cost:
Trade and other payables	2		2,982,499		2,982,499		6,014,572		6,014,572
Loans and borrowings	2		352,814		352,814		3,863,454		3,863,454
Holdback payable	2		-		-		400,000		400,000
Lease liabilities	2		-		-		135,337		135,337
Due to related parties	2		302,232		302,232		2,255,522		2,255,522