v3.26.3
Warrant derivative (Tables)
12 Months Ended
Dec. 31, 2025
Warrant derivative  
Schedule of reconciliation of change in fair value of warrant derivatives

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Fair Value of July ’22 Warrant

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Fair Value of November ‘25 

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Derivative

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Warrant Derivative

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$

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$

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(Restated – see Note 4)

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(Restated – see Note 4)

Balance, December 31, 2023

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7,109,543

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—

Change in fair value of warrant derivative

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1,060,353

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—

Balance, December 31, 2024

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8,169,897

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—

Recognition of warrant derivative

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4,338,218

Change in fair value of warrant derivative

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12,541,085

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8,309,296

Derecognition of warrant derivative

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(20,710,982)

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—

Balance, December 31, 2025

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12,647,514

Schedule of assumptions used in measuring estimated fair value of the warrant derivatives

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December 31, 2025

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December 31, 2024

 

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(Restated – see Note 4)

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(Restated – see Note 4)

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Risk-free interest rate

 

2.57

%  

2.92

%

Expected warrant life in years

 

2.62 years

 

2.53 years

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Expected stock price volatility

 

82.46

%  

71.14

%

Dividend yield

 

—

 

—

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Warrants outstanding

 

2,392,832

 

5,075,000

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