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

Share Capital and Reserves (Tables)

v3.23.3
Share Capital and Reserves (Tables)
9 Months Ended
Sep. 30, 2023
Share Capital and Reserves [Abstract]  
Schedule of Outstanding Stock Options A continuity schedule of outstanding stock options is as follows:
    Number
Outstanding
    Weighted Average
Exercise Price
 
          ($)  
Balance –December 31, 2021     129,451       63.60  
Granted     104,520       6.19  
Exercised    
-
     
-
 
Forfeited     (6,183 )     92.81  
Balance –December 31, 2022     227,788       37.13  
Granted     400,000       0.90  
Exercised    
-
     
-
 
Forfeited     (157,654 )     25.47  
Balance – September 30, 2023     470,134       10.21  

 

Schedule of Fair Value of Stock Options The Company used the following assumptions in calculating the fair value of stock options for the period ended:
    September 30,
2023
  December 31,
2022
Risk-free interest rate   3.93%   2.14% – 4.03%
Expected life of options   5.0 years   5.0 years
Expected dividend yield  
Nil
 
Nil
Volatility   132.65%   96.90% – 112.40%
Schedule of Incentive Stock Options Outstanding At September 30, 2023, the Company had incentive stock options outstanding as follows:
Expiry Date  

Options

Outstanding

   

Exercise

Price 

    Weighted Average
Remaining Life
 
          ($)     (years)  
April 2, 2024     6,877       37.80       0.50  
June 27, 2024     417       38.40       0.75  
September 27, 2024     15,418       67.95       1.00  
October 22, 2024     834       60.45       1.08  
July 24, 2025     8,873       44.70       1.83  
July 31, 2025     8,761       44.70       1.83  
August 10, 2025     833       44.70       1.92  
June 1, 2026     3,788       105.60       2.67  
June 29, 2026     700       84.75       2.75  
August 19, 2026     23,990       63.00       2.92  
May 10, 2027     230       11.85       3.67  
August 17, 2027     51,465       6.00       3.92  
September 20, 2027     2,240       3.45       4.00  
February 13, 2028     345,708       0.90       4.50  
      470,134       10.21       4.05  

 

Schedule of Outstanding Share Purchase Warrants A continuity schedule of outstanding share purchase warrants is as follows:
    Number     Weighted Average Exercise Price  
    Outstanding     ($)  
Balance –  December 31, 2021     299,077       102.45  
Exercised    
-
     
-
 
Expired     (186,586 )     96.30  
Issued     5,166,044       3.42  
Balance – December 31, 2022     5,278,535       5.74  
Exercised     (4,042,000 )     1.10  
Expired    
-
     
-
 
Issued     175,000       0.90  
Balance – September 30, 2023(1)     1,411,535       18.44  
(1) Unit A warrant balance is 1,687,341 as of September 30, 2023; however, table above reflects 15:1 post-consolidated common shares to be issued and exercise price upon the exercise of the warrants.
Schedule of Assumptions in Calculating the Fair Value of the Warrants The Company used the following assumptions in calculating the fair value of the warrants for the period ended:
    September 30,
2023
Risk-free interest rate   4.13% - 4.49%
Expected life of warrants   2.58 – 4.67 years
Expected dividend yield  
Nil
Volatility   132.78%
Weighted average fair value per warrant   $0.21
Schedule of Share Purchase Warrants Outstanding At September 30, 2023, the Company had share purchase warrants outstanding as follows:
Expiry Date  

Warrants

Outstanding

   

Exercise

Price

    Weighted Average Remaining Life  
          ($)     (years)  
January 20, 2026(1)     112,491       112.50       2.33  
February 28, 2027     331,044       28.80       3.42  
December 6, 2027     220,500       1.25       4.17  
December 9, 2027     158,000       1.10       4.17  
January 18, 2028     414,500       7.80       4.33  
February 2, 2028     175,000       0.90       4.42  
      1,411,535       18.44       3.92  
(1) Unit A warrant balance is 1,687,341 as of September 30, 2023; however, the table above reflects 15:1 post-consolidated common shares to be issued and exercise price upon the exercise of the warrants.