Current report of foreign issuer pursuant to Rules 13a-16 and 15d-16 Amendments

Condensed Interim Consolidated Statements of Cash Flows (Unaudited)

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