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

Condensed Interim Consolidated Statements of Cash Flows (Unaudited)

v3.23.2
Condensed Interim Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
OPERATING ACTIVITIES    
Loss for the period $ (3,637,544) $ (6,581,561)
Items not affecting cash:    
Amortization (Note 7) 113,391 140,364
Amortization of intangible assets (Note 10) 1,371,951 1,267,679
Finance expense 44,097
Loss on sale of equipment 51,771
Accrued interest 2,582 12,820
Effect of foreign exchange 56,500 (272,633)
Change in fair value of warrant liability (361,049)
Share-based compensation (1,156,217) 884,322
Changes in non-cash working capital items:    
Receivables 39,363 85,657
Prepaids and other assets (67,338) (189,596)
Deferred revenue (58,720) (109,851)
Accounts payable and accrued liabilities (229,742) (326,737)
Cash used in operating activities (3,514,003) (5,406,488)
FINANCING ACTIVITIES    
Repayment of notes payable – related party (664,697) (64,854)
Proceeds from warrant exercises 4,446,200
Proceeds from share issuances 2,250,000 7,876,960
Payments for lease liabilities (131,142) (128,608)
Payments of share issuance costs (361,706) (725,907)
Cash provided by financing activities 5,538,655 6,957,591
INVESTING ACTIVITIES    
Purchase of equipment (17,849)
Proceeds from sale of equipment 4,899
Development of intangible assets (14,569) (1,318,712)
Cash used in investing activities (9,670) (1,336,561)
Change in cash during the period 2,014,981 214,542
Cash - Beginning of period 1,178,846 1,678,156
Cash - End of period $ 3,193,827 $ 1,892,698