Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Cash Flows

v3.26.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
OPERATING ACTIVITIES    
Net Loss $ (2,144,733) $ (4,574,836)
Adjustments to reconcile net loss to net cash:    
Amortization of property and equipment 1,688
Accretion of interest expense 17,795
Share-based compensation 430,428 160,865
Changes in accounts receivable
Receivables (836,000) 18,222
Prepaid expenses and other current assets 380,972 (300,493)
Deferred revenue (35,049)
Accounts payable and accrued liabilities 116,471 (260,140)
Cash flows used in operating activities (2,052,862) (4,971,948)
INVESTING ACTIVITIES    
Development of intangible assets (609,000)
Cash flows used in investing activities (609,000)
FINANCING ACTIVITIES    
Proceeds from convertible debt – related party 2,500,000
Proceeds from warrant exercises 885,003
Payments of share and debt issuance costs (106,768)
Cash flows from financing activities 3,278,235
Effect of foreign exchange 123,336 70,620
Change in cash and cash equivalents during the period (2,538,526) (1,623,093)
Cash and cash equivalents - Beginning of period 3,065,914 4,689,007
Cash and cash equivalents - End of period 527,388 3,065,914
Supplemental disclosures of cash flow    
Interest paid
Income taxes paid
Noncash investing and financing activities    
Debt converted into common stock and warrants $ 2,411,027