| Schedule of Intangible Assets |
| | |
License # 1 | | |
License # 2
(IPR&D asset) | | |
Total | |
| Cost: | |
| | |
| | |
| |
| Balance, December 31, 2024 | |
$ | 861,452 | | |
| 2,023,097 | | |
| 2,884,549 | |
| Additions | |
| - | | |
| 49,535 | | |
| 49,535 | |
| Termination of agreement | |
| (861,452 | ) | |
| | | |
| (861,452 | ) |
| Balance, June 30, 2025 | |
$ | - | | |
| 2,072,632 | | |
| 2,072,632 | |
| | |
| | | |
| | | |
| | |
| | |
| | | |
| | | |
| | |
| Accumulated amortization: | |
| | | |
| | | |
| | |
| Balance, December 31, 2024 | |
$ | 82,556 | | |
| - | | |
| 82,556 | |
| Additions | |
| 14,358 | | |
| - | | |
| 14,358 | |
| Termination of agreement | |
| (96,914 | ) | |
| - | | |
| (96,914 | ) |
| Balance, June 30, 2025 | |
$ | - | | |
| - | | |
| - | |
| | |
| | | |
| | | |
| | |
| Net book value: | |
| | | |
| | | |
| | |
| December 31,2024 | |
$ | 778,896 | | |
| 2,023,097 | | |
| 2,801,993 | |
| June 30, 2025 | |
| - | | |
| 2,072,632 | | |
| 2,072,632 | |
|
| Schedule of Consideration Payable |
The cost of License # 1 was measured
at $861,452, which is the fair value of the consideration payable on initial recognition, determined by discounting the future payments
using a market interest rate of 11.75%.
| | |
Consideration
payable | |
| | |
| |
| Consideration payable – undiscounted | |
$ | 1,000,000 | |
| Discount on initial recognition | |
| (138,548 | ) |
| Fair value on initial recognition | |
$ | 861,452 | |
| | |
| | |
| Paid in cash | |
| (50,000 | ) |
| Accretion | |
| 73,015 | |
| Balance, December 31, 2024 | |
$ | 884,467 | |
| Accretion | |
| 9,684 | |
| Termination of agreement | |
| (894,151 | ) |
| Balance, June 30, 2025 | |
$ | - | |
|
| Schedule of the Black-Scholes Option Pricing Model |
The following assumptions were used
in the Black-Scholes Option Pricing Model:
| | |
Initial recognition –
April 30,
2024 | |
| Risk-free interest rate | |
| 5.12-5.44 | % |
| Expected life | |
| 0.5-1 years | |
| Expected dividend rate | |
| 0.00 | % |
| Expected volatility | |
| 100 | % |
The following assumptions were used
in the Black-Scholes option pricing model:
| | |
Initial recognition –
March 26,
2025 | |
| Risk-free interest rate | |
| 4.26 | % |
| Expected life | |
| 0.5 years | |
| Expected dividend rate | |
| 0.00 | % |
| Expected volatility | |
| 100 | % |
|