Loan Payable

Balance, December 31, 2023

$

2,703,154

Accretion of discount on loan payable

109,080

Interest expense

587,043

Debt modification cost

(250,109

)

Foreign exchange impact

234,761

Balance, December 31, 2024

$

3,383,929

Proceeds, net of arrangement fee

8,302,355

Debt issuance costs allocated to liability component

(89,947

)

Residual value allocated to equity component

(532,967

)

Interest expense

1,777,174

Foreign exchange impact

(689,155

)

Balance, December 31, 2025

$

12,151,389