v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities of continuing operations:    
Net loss $ (4,016,234) $ (2,075,875)
Income (loss) from discontinued operations, net of income tax (732,723) 655,084
Net loss from continuing operations (3,283,511) (2,730,959)
Adjustments to reconcile net loss from continuing operations to net cash flows used in operating activities of continuing operations:    
Depreciation expense 15,394 28,728
Loss on disposal of property and equipment 116,981
Non-cash lease expense 133,553 30,620
Gain on termination of lease (9,059)
Deferred income taxes 27,673
Stock-based compensation 2,031 60,204
Changes in fair value of investments in marketable securities 817,491 928,955
Changes in fair value of investment in warrants 16,635 (72,660)
Changes in fair value of derivative liability (47,258)
Gain on settlement of asset retirement obligations (45,873)
Changes in assets and liabilities:    
Accounts receivable (40,102) (30,439)
Prepaid expenses 120,260 60,557
Other assets 83,271 152,927
Accounts payable and accrued expenses (9,464) (106,918)
Accounts payable and accrued expenses – related party (90,717) (23,386)
Accrued payroll and other employee costs 25,945 (35,053)
Due to related party 191 (884)
Operating lease liabilities (126,904) (23,648)
Income tax payables 11,150 (105,946)
Deferred revenue (107,443) (190,163)
Other liabilities (3,278) 2,865
Net cash flows used in operating activities of continuing operations (2,482,756) (1,965,478)
Cash flows from investing activities of continuing operations:    
Purchases of property and equipment (1,840)
Proceeds from sale of marketable securities 346,894 1,071,732
Net cash flows provided by investing activities of continuing operations 345,054 1,071,732
Cash flows from financing activities of continuing operations:    
Payments for finance lease (8,375)
Repayment of insurance premium financing (55,103) (65,257)
Proceeds from issuance of common shares related to at the market offering agreement 30,445
Proceeds from collection of subscription receivable 103,942
Proceeds from exercise of stock options 117,000
Proceeds from issuance of Series A convertible preferred shares and common shares related to securities purchase agreement, net of share issuance costs 1,800,000
Net cash flows provided by (used in) financing activities of continuing operations (55,103) 1,977,755
Cash flows from discontinued operations:    
Net cash flows used in operating activities of discontinued operations (11,397) (709,414)
Net cash flows provided by investing activities of discontinued operations 844,198 19,904
Net cash flows used in financing activities of discontinued operations (22,134) (206,988)
Net cash flows provided by (used in) discontinued operations 810,667 (896,498)
Effect of exchange rate changes (16,750) 39,022
Net change in cash and cash equivalents (1,398,888) 226,533
Cash and cash equivalents – beginning of the period 1,985,962 2,121,089
Cash and cash equivalents – end of the period 587,074 2,347,622
Supplemental cash flow disclosures:    
Interest paid 30,674 63,320
Income taxes paid (received), net (17,394) 131,118
Non-cash investing and financing transactions:    
Insurance premium financing 108,000 139,500
Warrants converted to marketable securities [1] 142,515
Operating lease right-of-use assets obtained in exchange for operating lease liabilities 552,577 23,495
Dividends accrued on Series A convertible preferred shares 47,324 611
Series A convertible preferred shares converted to common shares 272,117
Issuance of common shares related to equity purchase agreement $ 250,000
[1] For the six months ended June 30, 2026 and 2025, the Company exercised 63,558 and nil shares of warrants in exchange for 63,558 and nil shares of common shares, respectively.