Share Capital (Tables)
|
3 Months Ended |
Mar. 31, 2026 |
|---|
| Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
| Schedule of Warrants Outstanding |
The
following table summarizes the warrants outstanding that remain outstanding as of March 31, 2026:
Schedule
of Warrants Outstanding
| Expiration Date | |
Outstanding | | |
Exercise Price | |
| April 19, 2026 | |
| 22,395,950 | | |
$ | 1.10 | |
| August 19, 2026 | |
| 2,742,519 | | |
$ | 0.44 | |
| December 9, 2026 | |
| 8,473,500 | | |
$ | 0.29 | |
| December 15, 2026 | |
| 2,341,600 | | |
$ | 0.29 | |
| August 14, 2027 | |
| 8,603,800 | | |
$ | 0.22 | |
| March 19, 2028 | |
| 8,152,200 | | |
$ | 0.22 | |
| November 30, 2028 | |
| 60,155,339 | | |
$ | 0.22 | |
| February 26, 2031 | |
| 5,687,500 | | |
$ | 0.22 | |
| Total warrants outstanding | |
| 118,552,408 | | |
| | |
|
| Schedule of Stock Option Activity |
Stock
option activity is summarized as follows:
Schedule of Stock Option Activity
| | |
Number of Stock Options | | |
Weighted-Average Exercise Price | | |
Weighted-Average Remaining Contractual Life | | |
Aggregate Intrinsic Value | |
| Balance as of December 31, 2024 | |
| 13,815,048 | | |
$ | 0.39 | | |
| 4.21 | | |
$ | 740,452 | |
| Granted | |
| 579,744 | | |
$ | 0.19 | | |
| 9.06 | | |
$ | 27,854 | |
| Exercised | |
| (302,666 | ) | |
$ | 0.15 | | |
| 4.09 | | |
$ | 55,575 | |
| Forfeited | |
| (2,050,066 | ) | |
$ | 0.15 | | |
| 4.15 | | |
$ | 68,400 | |
| Balance as of December 31, 2025 | |
| 12,042,060 | | |
$ | 0.38 | | |
| 3.35 | | |
$ | 644,330 | |
| Granted | |
| 1,035,000 | | |
$ | 0.20 | | |
| 9.90 | | |
$ | 46,575 | |
| Balance as of March 31, 2026 | |
| 13,077,060 | | |
$ | 0.37 | | |
| 3.40 | | |
$ | 690,905 | |
|
| 2019 Stock Incentive Plan [Member] |
|
| Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
| Schedule of Black-Scholes Option Pricing Model Assumptions |
The
Company used the Black-Scholes Option Pricing model to estimate the fair value of the options granted during the three months ended March
31, 2026 and year ended December 31, 2025, using the following range of assumptions:
Schedule
of Black-Scholes Option Pricing Model Assumptions
| |
|
March
31,
2026 |
|
|
December
31,
2025 |
|
| |
|
|
|
|
|
|
| Expected
stock price volatility |
|
|
156.19 |
% |
|
|
156.11%
- 239.57 |
% |
| Risk-free
annual interest rate |
|
|
3.71 |
% |
|
|
4.11%
- 5.23 |
% |
| Expected
life (years) |
|
|
6.5 |
|
|
|
1.5
– 9.8 |
|
| Expected
annual dividend yield |
|
|
0.00 |
% |
|
|
0.00 |
% |
|
| Schedule of Options Remain Outstanding |
The
following table summarizes the stock options that remain outstanding as of March 31, 2026:
Schedule
of Options Remain Outstanding
| Exercise Price (CAD$) | | |
Date | |
Outstanding | | |
Exercisable | | |
Vesting Condition |
| $ | 0.25 | | |
October 2026 | |
| 300,000 | | |
| 141,667 | | |
One year vesting |
| $ | 0.25 | | |
November 2026 | |
| 300,000 | | |
| 300,000 | | |
One year vesting |
| $ | 0.65 | | |
February 2029 | |
| 12,548 | | |
| 12,548 | | |
One year vesting |
| $ | 0.65 | | |
February 2029 | |
| 76,009 | | |
| 76,009 | | |
Immediate vesting |
| $ | 0.65 | | |
February 2029 | |
| 2,560,083 | | |
| 2,560,083 | | |
Three year vesting |
| $ | 0.65 | | |
February 2029 | |
| 6,274 | | |
| 6,274 | | |
Immediate vesting |
| $ | 0.65 | | |
February 2029 | |
| 264,836 | | |
| 264,836 | | |
Immediate vesting |
| $ | 0.65 | | |
July 2029 | |
| 2,824,918 | | |
| 2,824,918 | | |
Immediate vesting |
| $ | 0.15 | | |
October 2029 | |
| 60,000 | | |
| 60,000 | | |
One year vesting |
| $ | 0.15 | | |
November 2029 | |
| 1,985,000 | | |
| 1,985,000 | | |
One year vesting |
| $ | 0.15 | | |
November 2029 | |
| 1,957,500 | | |
| 1,957,500 | | |
One year vesting |
| $ | 0.01 | | |
October 2030 | |
| 887,112 | | |
| 887,112 | | |
One year vesting |
| $ | 1.05 | | |
October 2031 | |
| 31,369 | | |
| 31,369 | | |
Immediate vesting |
| $ | 0.15 | | |
July 2034 | |
| 66,667 | | |
| 66,667 | | |
Immediate vesting |
| $ | 0.15 | | |
July 2034 | |
| 66,667 | | |
| 66,667 | | |
One year vesting |
| $ | 0.15 | | |
July 2034 | |
| 200,000 | | |
| 111,111 | | |
Three year vesting |
| $ | 0.20 | | |
January 2035 | |
| 443,077 | | |
| 443,077 | | |
One year vesting |
| $ | 0.25 | | |
February 2035 | |
| 1,035,000 | | |
| 28,750 | | |
Three year vesting |
| | | | |
| |
| 13,077,060 | | |
| 11,823,588 | | |
|
|
| Restricted Share Unit Plan [Member] |
|
| Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
| Schedule of Restricted Share Unit Activity |
Restricted
share unit activity is summarized as follows:
Schedule
of Restricted Share Unit Activity
| | |
Number of Restricted Share Units | | |
Weighted-Average Exercise Price | | |
Weighted-Average Remaining Contractual Life | |
| Balance as of December 31, 2024 | |
| 7,192,586 | | |
$ | 0.17 | | |
| 4.73 | |
| Granted | |
| 26,084,258 | | |
$ | 0.20 | | |
| 4.96 | |
| Exercised | |
| (7,185,206 | ) | |
$ | 0.15 | | |
| 3.87 | |
| Forfeited | |
| (7,380 | ) | |
$ | 0.15 | | |
| 3.87 | |
| Balance as of December 31, 2025 | |
| 26,084,258 | | |
$ | 0.20 | | |
| 4.71 | |
| Granted | |
| - | | |
$ | - | | |
| - | |
| Exercised | |
| - | | |
$ | - | | |
| - | |
| Forfeited | |
| - | | |
$ | - | | |
| - | |
| Balance as of March 31, 2026 | |
| 26,084,258 | | |
$ | 0.20 | | |
| 4.71 | |
|