v3.26.1
Stock Options (Tables)
 12 Months Ended
Dec. 31, 2025
Notes and other explanatory information [abstract]  
Summary of Changes in Stock Options

A continuity of the Company’s outstanding stock options for the year ended December 31, 2025, 2024, and 2023 is presented below:

 

   Number of options   Weighted average
exercise price (CAD)		 
Outstanding, December 31, 2022   460,000   $6.35 
Granted   2,330,000    0.80 
Exercised   (88,000)   8.25 
Expired   (48,000)   3.95 
Forfeited   (113,200)   6.60 
Outstanding, December 31, 2023   324,000   $6.20 
Granted   2,330,000    0.80 
Expired   (138,000)   4.50 
Forfeited   (113,200)   6.60 
Outstanding and Exercisable, December 31, 2024   2,402,800   $1.05 
Expired   (62,800)   8.61 
Cancelled   (40,000)   1.00 
Outstanding and Exercisable, December 31, 2025   2,300,000   $0.85 
Schedule of Stock Options Outstanding and Exercisable

At December 31, 2025 the Company had the following outstanding stock options:

 

Outstanding   Exercise Price  Expiry Date  Vested 
 10,000   9.50 CAD  June 6, 2026   10,000 
 40,000   1.50 CAD  January 2, 2027   40,000 
 50,000   1.00 CAD  February 15, 2027   50,000 
 100,000   1.25 CAD  February 28, 2027   100,000 
 490,000   1.00 CAD  March 8, 2027   490,000 
 1,610,000   0.70 CAD  August 12, 2029   1,610,000 
 2,300,000          2,300,000 
Schedule of Fair Value of Black-Scholes Option Pricing Modeling

The fair values for stock options granted during the year ended December 31, 2025, 2024, and 2023 have been estimated using the Black-Scholes option pricing model using the following weighted average assumptions:

 

   2025  2024  2023
Risk-free interest rate  N/A  2.92 – 3.84%  N/A
Expected life (years)  N/A  3 – 5  N/A
Expected volatility  N/A  111 – 129%  N/A
Dividend yield  N/A  0%  N/A
Forfeiture rate  N/A  0%  N/A