v3.25.1
SHARE CAPITAL (Tables)
 3 Months Ended
Mar. 31, 2025
SCHEDULE OF STOCK OPTIONS OUTSTANDING AND EXERCISABLE

As at March 31, 2025, the Company had the following options outstanding and exercisable:

 

Grant Date  Expiry Date  Exercise Price   Remaining Contractual Life (years)   Number of Options Outstanding   Number of Options Exercisable 
October 30, 2019  October 30, 2029   $62.50    4.57    11,130    11,130 
April 30, 2020  April 30, 2030   $62.50    5.07    320    320 
April 30, 2020  April 30, 2030   $96.25    5.07    4,400    4,400 
July 3, 2020  July 3, 2025   $80.00    0.26    4,000    4,000 
November 24, 2020  November 24, 2030   $62.50    5.64    1,280    1,280 
February 2, 2021  February 2, 2031   $330.00    5.83    1,200    1,200 
March 8, 2021  March 8, 2026   $347.50    0.93    400    400 
April 27, 2021  April 27, 2031   $253.75    6.06    4,240    4,240 
September 9, 2021  September 9, 2026   $121.00    1.44    1,034    1,034 
November 9, 2023  November 9, 2033   $15.75    8.59    1,200    800 
                 29,204    28,804 
SCHEDULE OF STOCK OPTIONS OUTSTANDING
   Number of Options   Weighted Average Exercise Price 
Outstanding, December 31, 2023   35,954   $112.00 
Forfeited   (4,350)   106.83 
Outstanding, December 31, 2024   31,604   $112.05 
Forfeited   -2,400    94.38 
Outstanding, March 31, 2025   29,204   $105.50 
SUMMARY OF CHANGES IN RESTRICTED STOCK UNITS

As at March 31, 2025, the Company had the following RSUs outstanding:

 

   Number of RSUs 
Outstanding, December 31, 2023   44,545 
Vested   (25,353)
Issued   185,240 
Forfeited   (16,332)
Outstanding, December 31, 2024   188,100 
Vested   (16,998)
Forfeited   (1,001)
Outstanding, March 31, 2025   170,101 
SCHEDULE OF ISSUE DATE FAIR VALUE INPUTS OF WARRANTS

 

   February Issuance   April Issuance   August Issuance   November Issuance 
   Warrants   Broker   Warrants   Broker   Broker   Broker 
Volatility   119.23%   107.8%   119.80%   108.67%   118.87%   115.27%
Risk free rate   4.33%   4.48%   4.65%   4.62%   3.74%   4.24%
Expected life   5 years    3 years    5 years    3 years    3 years    3 years 
Expected dividend yield   0%   0%   0%   0%   0%   0%
SCHEDULE OF WARRANT DERIVATIVE LIABILITY

Warrant Derivative Liability

 

Balance at December 31, 2023  $4,196,125 
Warrants issued   7,282,325 
Exercised   (3,661,283)
Change in fair value of warrants outstanding   (1,842,618)
Reclassify to equity   (3,776,428)
Balance at December 31, 2024  $2,198,121 
Change in fair value of warrants outstanding   (157,830)
Balance at March 31, 2025  $2,040,291 
SCHEDULE OF WARRANT AND FAIR VALUE OUTSTANDING

Details of liability warrants and their fair values are as follows:

 

Issue Date  Exercise Price  

Number of Warrants Outstanding at

March 31, 2025

  

Fair Value at

March 31, 2025

  

Number of Warrants Outstanding at

December 31, 2024

  

Fair Value at

December 31, 2024

 
Derivative Liability                    
February 26, 2024 (1)  US$4.4025    474,332    $2,040,291    474,332   $2,198,121 
         474,332   $2,040,291    474,332   $2,198,121 

 

1)The warrants expire February 26, 2029.
SCHEDULE OF DETAILS OF THE WARRANTS

 

   Exercise Price    Number of Warrants Outstanding at March 31, 2025   Number of Warrants Outstanding at December 31, 2024 
October 30, 2023 (1)  $ 3.3086     256,000    256,000 
April 29, 2024 (2)  $ 3.3086     540,541    540,541 
August 21, 2024 (3)  $ 5.12     666,667    666,667 
November 19, 2024 (4)  $ 3.3086     1,600,000    1,600,000 
           3,063,208    3,063,208 

 

1)The warrants expire October 30, 2028. These were moved from derivative liability August 7, 2024.
2)The warrants expire April 29, 2029. These were moved from derivative liability August 7, 2024.
3)The warrants expire August 21, 2029.
4)The warrants expire November 19, 2029
SCHEDULE OF WEIGHTED AVERAGE ASSUMPTION FOR WARRANTS

The fair values of these warrants were estimated using the Black-Scholes Option Pricing Model with the following weighted average assumptions:

 

   March 31, 2025   December 31, 2024 
Risk free interest rate   3.96%   4.38%
Expected volatility   117.34%   124.06%
Expected life   3.91 years    4.16 years 
Expected dividend yield   0%   0%
SUMMARY OF CHANGES IN WARRANTS

 

   Number of Warrants   Weighted Average Exercise Price 
Outstanding, December 31, 2023   342,992   $15.75 
Issued   5,376,370    3.35 
Exercised   (1,991,668)   0.9596 
Expired   (10,192)   125.00 
Outstanding, December 31, 2024 and March 31, 2025   3,717,502   $5.16 
SCHEDULE OF WARRANTS OUTSTANDING

As at March 31, 2025, the Company had the following warrants outstanding:

   

Date issued  Expiry date  Exercise price  Number of warrants outstanding 
October 30, 2023  October 30, 2026  CAD$ 23.20   12,800 
October 30, 2023  October 30, 2028  CAD$ 3.3086   256,000 
February 26, 2024  February 26, 2027  US$ 8.44   26,800 
February 26, 2024  February 26, 2029  US$ 4.4025   474,332 
April 29, 2024  April 29, 2029  CAD$ 3.3086   540,541 
April 29, 2024  April 29, 2024  CAD$ 11.06   27,028 
August 21, 2024  August 21, 2027  CAD$ 5.12   33,334 
August 21, 2024  August 21, 2029  CAD$ 5.12   666,667 
November 19, 2024  November 19, 2029  CAD$ 3.3086   1,600,000 
November 19, 2024  November 19, 2027  CAD$ 4.1357   80,000 
            3,717,502