| Change in presentation currency |
19.Change in presentation currency Effective January 1, 2025, the Company changed its presentation currency from CAD to USD. In accordance with IAS 21, this change has been applied retrospectively to the date of the reverse takeover, and all comparative information has been presented in USD. Assets and liabilities have been translated into the presentation currency at the exchange rate prevailing at the reporting date, or at the exchange rates prevailing at the dates of the transactions. Exchange differences arising on translation are recognized in other comprehensive loss. The Company has presented the effects of the change in presentation currency below. The consolidated statements of cash flows have been adjusted to reflect the currency change, and no other adjustments were required. | | | | | | | | | | | December 31, 2024 | | December 31, 2024 | | January 1, 2024 | | January 1, 2024 | | | USD$ | | CAD$ | | USD$ | | CAD$ | ASSETS | | | | | | | | | Current | | | | | | | | | Cash and cash equivalents | | 40,073 | | 57,659 | | 16,681 | | 22,067 | Short-term investments | | 8,475 | | 12,195 | | 13,246 | | 17,520 | Sales tax, interest and other receivables | | 435 | | 626 | | 441 | | 583 | Prepaid expenses and deposits | | 1,760 | | 2,532 | | 112 | | 148 | Derivative financial instruments, net | | — | | — | | 3 | | 4 | Total current assets | | 50,743 | | 73,012 | | 30,483 | | 40,322 | Property and equipment | | 4 | | 5 | | 15 | | 19 | Assets held for sale | | | | | | | | | Intangible asset | | — | | — | | 2,961 | | 3,916 | Investments | | — | | — | | 31 | | 41 | | | 4 | | 5 | | 3,007 | | 3,976 | TOTAL ASSETS | | 50,747 | | 73,017 | | 33,490 | | 44,298 | | | | | | | | | | LIABILITIES | | | | | | | | | Accounts payable and accrued liabilities | | 3,583 | | 5,155 | | 2,734 | | 3,624 | Total current liabilities | | 3,583 | | 5,155 | | 2,734 | | 3,624 | Total liabilities TOTAL LIABILITIES | | 3,583 | | 5,155 | | 2,734 | | 3,624 | | | | | | | | | | SHAREHOLDERS’ EQUITY | | | | | | | | | Common Shares | | 78,131 | | 105,729 | | 47,335 | | 61,916 | Pre-Funded Warrants | | 19,967 | | 27,622 | | 13,050 | | 17,772 | Contributed surplus | | 7,900 | | 10,329 | | 6,472 | | 8,503 | Accumulated deficit | | (57,097) | | (75,601) | | (36,463) | | (47,502) | Accumulated other comprehensive income/(loss) | | (1,737) | | (217) | | 362 | | (15) | Total shareholders’ equity | | 47,164 | | 67,862 | | 30,756 | | 40,674 | TOTAL LIABILITIES AND SHAREHOLDER’S EQUITY SHAREHOLDERS’ EQUITY | | 50,747 | | 73,017 | | 33,490 | | 44,298 |
| | | | | | | December 31, 2024 | | December 31, 2024 | | | USD$ | | CAD$ | Research and development expenses | | 14,359 | | 19,603 | General and administrative expenses | | 6,039 | | 8,205 | LOSS FROM OPERATING ACTIVITIES | | (20,398) | | (27,808) | OTHER INCOME AND EXPENSES | | | | | Finance income | | 1,003 | | 1,371 | Impairment of intangible asset | | (2,905) | | (3,961) | Loss on derivative financial instruments | | (3) | | (2) | Foreign exchange gain | | 1,669 | | 2,301 | NET LOSS FOR THE YEAR | | (20,634) | | (28,099) | OTHER COMPREHENSIVE LOSS | | | | | Foreign currency translation adjustments | | (2,099) | | (202) | TOTAL COMPREHENSIVE LOSS | | (22,733) | | (28,301) |
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