Investment in Associate |
6 Months Ended | |||
|---|---|---|---|---|
Jun. 30, 2026 | ||||
| Investment in Associate [Abstract] | ||||
| Investment in associate |
The Corporation incorporated USDC, as a subsidiary on September 20, 2024. Subsequent to December 31, 2024, the Corporation dissolved this subsidiary and incorporated an entity of the same name. During the year ended December 31, 2025, $1,000,000 was distributed to the original shareholders upon on dissolution. During the three months ended March 31, 2026, the Corporation reduced its ownership interest in USDC by 49% following a $1,905,000 capital contribution from third-party investors. As a result, the Corporation retained a 51% economic ownership interest in USDC. During the three months ended June 30, 2026, USDC issued common shares to third-party investors for gross proceeds of $3,150,000, reducing the Corporation's economic ownership interest in USDC from 51% to approximately 48%. As a result, USDC was deconsolidated in the quarter ended June 30, 2026. The Corporation has accounted for this investment under the equity method. The Corporation determined that the loss of control due to dilution does not constitute a strategic shift and therefore the deconsolidation is not deemed to be a discontinued operation. The Corporation recognized a $ gain on deconsolidation in the condensed interim consolidated financial statements of operations and comprehensive loss. |