v3.26.1
Equity (Tables)
6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Schedule of Fair Value Determined Using Block-Scholes Model

The modification and new warrants fair value was determined using a Black-Scholes Model with the following inputs and results:

 

    Original
Terms
    Amended
Terms
    New
Warrants
 
Grant Date     17-Jun-25       17-Jun-25       17-Jun-25  
Expiry     14-Dec-26       14-Dec-29       17-Jun-28  
                         
Input Data                        
Current Stock Price   $ 2.00     $ 2.00     $ 2.00  
Exercise Price   $ 1.00     $ 1.00     $ 5.05  
Term of Warrants     1.49       4.50       3.00  
Risk-Free Interest Rate     2.71 %     2.96 %     2.73 %
Volatility     150.00 %     150.00 %     150.00 %
                         
Fair Value of Option   $ 1.5212     $ 1.8554     $ 1.4278  
Modification benefit           $ 0.3342          
Number of warrants             1,458,833       1,188,000  
Value           $ 487,567     $ 1,696,183  

The modification and new warrants fair value was determined using a Black-Scholes Model with the following inputs and results:

 

    Original
Terms
    Amended
Terms
    New
Warrants
 
Grant Date     15-Jul-25       15-Jul-25       15-Jul-25  
Expiry     14-Dec-26       14-Dec-29       15-Jul-28  
                         
Input Data                        
Current Stock Price   $ 2.00     $ 2.00     $ 2.00  
Exercise Price   $ 1.00     $ 1.00     $ 5.05  
Term of Warrants     1.42       4.42       3.00  
Risk-Free Interest Rate     2.83 %     3.08 %     2.84 %
Volatility     150.00 %     150.00 %     150.00 %
                         
Fair Value of Option   $ 1.5050     $ 1.8517     $ 1.4286  
Modification benefit           $ 0.3467          
Number of warrants             114,667       81,000  
Value           $ 39,761     $ 115,714  

The modification fair value was determined using a Black-Scholes Model with the following inputs and results:

 

    Original
Terms
    Amended
Terms
 
Grant Date     23-May-25       23-May-25  
Expiry     14-Dec-26       14-Dec-29  
                 
Input Data                
Current Stock Price   $ 2.00     $ 2.00  
Exercise Price   $ 1.00     $ 1.00  
Term of Warrants     1.56       4.56  
Risk-Free Interest Rate     2.69 %     2.93 %
Volatility     150.00 %     150.00 %
                 
Fair Value of Option   $ 1.5355     $ 1.8589  
Modification benefit           $ 0.3235  
Warrants             300,000  
Share-based compensation           $ 97,035  
Schedule of Warrants
    Number of
Warrants
    Weighted
Average
Exercise
Price
    Weighted
Average
Remaining Life
 
Outstanding warrants, December 31, 2024 (i)     2,000,500     $ 1.00       4.46  
Exercised     (396,000 )   $ 1.00       1.50  
Warrants – issued in units subscription     70,000     $ 5.05       2.55  
Warrants – issued as inducement     1,188,000     $ 5.05       2.97  
Outstanding warrants, June 30, 2025     2,862,500       2.72       3.54  
Exercised     (27,000 )   $ 1.00       0.46  
Warrants – issued as inducement     81,000     $ 5.05       2.04  
Outstanding warrants, December 31, 2025 and June 30, 2026     2,916,500       2.86       2.66  
Schedule of Warrants Expiry
                Weighted  
                Average  
Expiry   Number of
Warrants
    Exercise
Price
    Remaining
Life
 
December 14, 2026     100,000     $ 1.00       0.46  
December 14, 2029     1,477,500     $ 1.00       3.46  
January 15, 2028     70,000     $ 5.05       1.55  
June 17, 2028     1,188,000     $ 5.05       1.97  
July 15, 2028     81,000     $ 5.05       2.04  
Outstanding warrants, June 30, 2026     2,916,500     $ 2.86       2.66  
(i) The weighted-average remaining life at December 31, 2024 has been adjusted to reflect the modification of the expiry date of the related warrants as previously detailed.

 

Schedule of Stock Option Activity

The following table summarizes the stock option activity for the period ended June 30, 2026:

 

        Number of           Aggregate     Remaining  
    Expiry   Options     Exercise     Intrinsic     Contractual  
Grant Date   Date   Granted     Price     Value     Life  
March 15, 2024   March 15, 2029     180,000     $ 2.00     $        -       2.71  
June 18, 2024   June 18, 2029     90,000     $ 4.00       -       2.97  
June 30, 2024   June 30, 2029     320,000     $ 4.00       -       3.00  
August 28, 2024   August 28, 2029     25,000     $ 5.00       -       3.16  
September 25, 2024   September 25, 2029     243,000     $ 5.00       -       3.24  
As of June 30, 2026         858,000     $ 3.89     $ -          
Schedule of Inputs into the Black-Scholes Model
Inputs into the Black-Scholes Model:                              
Grant Date     15-Mar-24       18-Jun-24       30-Jun-24       28-Aug-24       25-Sep-24  
Share price   $ 2.00     $ 2.00     $ 2.00     $ 2.00     $ 2.00  
Exercise price   $ 2.00     $ 4.00     $ 4.00     $ 5.00     $ 5.00  
Term     5       5       5       5       5  
Risk-Free Interest Rate     3.53 %     3.19 %     3.43 %     2.91 %     2.76 %
Volatility     150.00 %     150.00 %     150.00 %     150.00 %     150.00 %