v3.26.1
UNAUDITED CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended 12 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Cash flows from operating activities      
Net loss $ (4,269,131) $ (2,653,107)  
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation 88,588 5,080  
Amortization of ROU asset 14,761 21,188  
Unrealized gain on investments (14,867) (11,422)  
Realized gain on investments (107,624) 0  
Amortization of debt discount 0 117,067  
Change in fair value of derivative liability 0 704,662  
Stock-based compensation 1,796,774 0  
Loss on disposal of property, plant, and equipment 4,603 0  
Changes in operating assets and liabilities:      
Accrued interest 0 114,820  
Accounts payable and accrued liabilities 64,758 (10,388)  
Due from shareholder (1,526,126) 0  
Deferred income (14,998) 93,740  
Grant payable 389,000 (40,000)  
Prepaid expenses (376,601) 9,789  
Lease liability (12,679) (21,161)  
Net cash used in operating activities (3,963,542) (1,669,732)  
Cash flows from investing activities      
Additions to long-term deposits 0 (5,000,000)  
Purchase of short-term investments (8,586,239) (295,422)  
Redemption of short-term investments 10,056,100 0  
Net cash provided by (used in) investing activities 1,469,861 (5,295,422)  
Cash flows from financing activities      
Proceeds from private placements 0 4,101,909  
Cash paid for financing costs 0 (232,078)  
Net cash provided by financing activities 0 3,869,831  
Decrease in cash and restricted cash (2,493,681) (3,095,323)  
Cash and restricted cash, beginning of period 4,631,720 7,100,699 $ 7,100,699
Cash and restricted cash, end of period 2,138,039 4,005,376 4,631,720
Cash 1,402,025 3,955,164  
Restricted cash 736,014 50,212  
Total cash and restricted cash, end of period 2,138,039 4,005,376 $ 4,631,720
Supplemental cash flow information      
Income taxes paid 0 0  
Interest paid 0 3,589  
Supplemental disclosure of non-cash investing and financing activities      
Shares issued for common stock subscribed 0 1,870,643  
Deferred financing costs recognized as share issuance costs $ 0 $ 105,703