Related Party Transactions |
12 Months Ended |
|---|---|
Dec. 31, 2024 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions [Text Block] |
8. Related Party Transactions For the year ended December 31, 2024, the Company incurred $438,120 (C$600,000) (2023-$355,680; C$480,000) respectively, in management fees expense with Travellers International Inc. ("Travellers"), an Ontario company controlled by a director and the president and chief executive officer (the "CEO"); and $109,530 (C$150,000) (2023-$111,150; C$150,000) in management fees expense with the Company's chief financial officer (the "CFO"). As at December 31, 2024, unpaid remuneration and unpaid expenses in the amount of $488,294 (C$702,581) (2023-$171,733; C$227,130) is included in accounts payable and $212,695 (C$306,036) (2023-$138,963; C$183,789) in accrued liabilities in the consolidated balance sheets. For the year ended December 31, 2024, the Company incurred $114,064 (C$156,209) (2023-$103,496; C$139,670) in rent expense paid under a lease agreement, currently under a month-to-month lease with Haute Inc. ("Haute"), an Ontario company controlled by the CEO. In addition, during the year ended December 31, 2024, Travellers converted $101,130 (C$135,600) (December 31, 2023-$579,271; C$779,383 in outstanding accounts payable and loans) in outstanding accounts payable for 809,044 (December 31, 2023-2,911,852) common shares of the Company, based on closing trading prices on the day prior to each conversion. For those independent directors providing their services throughout 2024, the Company recorded directors' compensation in the amount of $68,456 (C$93,750) (2023-$71,579; $96,597). As of December 31, 2024, outstanding directors' compensation of $246,407 (C$354,543) (2023-$197,186; C$260,793) is included in accrued liabilities in the consolidated balance sheets. In addition, during the prior year, a new independent director was awarded stock-based compensation consisting of 100,000 common shares of the Company, valued at $21,000 based on the trading price on his appointment. Furthermore, for the year ended December 31, 2024, the Company recognized management stock-based compensation expense of $216,000 (2023-$230,400), on the common stock issued to the CEO and the CFO, nil (2023-3,000,000) and nil (2023-100,000) common stock respectively, on their executive consulting agreements and $nil (2023-$2,880) and nil (2023-20,000) common stock issued to an employee. |