Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Shareholders' Equity (Deficit)

v3.24.1
Consolidated Statements of Shareholders' Equity (Deficit)
Preferred Shares
Series 1 Preferred Shares
shares
Preferred Shares
Series 2 Preferred Shares
shares
Common Shares
August 2023 PIPE Financing
shares
Common Shares
shares
Additional Paid-in Capital
August 2023 PIPE Financing
USD ($)
Additional Paid-in Capital
USD ($)
Accumulated other Comprehensive Income (Loss)
USD ($)
Accumulated Deficit
USD ($)
August 2023 PIPE Financing
USD ($)
USD ($)
shares
CAD ($)
shares
Balance at the beginning at Dec. 31, 2021           $ 68,039,178 $ (187,919) $ (62,191,201)   $ 5,660,058  
Balance at the beginning (in shares) at Dec. 31, 2021 | shares       7,195,529              
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Issuance of common shares, net of issuance costs           4,974,253       4,974,253  
Issuance of common shares, net of issuance costs (in shares) | shares       1,383,755              
Share-based compensation           487,630       487,630  
Conversion of convertible debt and derivative liability to Series 1 Convertible Preferred Shares           5,600,000       5,600,000  
Conversion of convertible debt and derivative liability to Series 1 Convertible Preferred Shares (in shares) | shares 70,000,000                    
Foreign currency translation             (7,450)     (7,450)  
Net Income (Loss)               (18,062,263)   (18,062,263)  
Balance at the end at Dec. 31, 2022           79,101,061 (195,369) (80,253,464)   $ (1,347,772)  
Balance at the end (in shares) at Dec. 31, 2022 | shares 70,000,000     8,579,284           8,579,284 8,579,284
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Exercise of warrants           3,600       $ 3,600  
Exercise of warrants (in shares) | shares       360,001              
Reclassification of USD denominated warrants from warrant liability to additional paid-in capital due to change in functional currency           1,287,400       1,287,400  
Issuance of common shares, net of issuance costs         $ 17,745,200       $ 17,745,200    
Issuance of common shares, net of issuance costs (in shares) | shares     9,945,969                
Share-based compensation           271,542       271,542  
Reclassification of CAD equity-classified stock options to share-based compensation liability due to change in functional currency           (1,435,912)       (1,435,912)  
Reclassification of CAD denominated warrants from additional paid-in capital to warrant liability due to change in functional currency           (396,375)       (396,375)  
Re-measurement of liability-classified CAD stock options as of December 31, 2023           1,013,910       1,013,910 $ 681,308
Exchange of Series 1 Convertible Preferred Shares for Series 2 Convertible Preferred Shares | shares (70,000,000) 1,166,667                  
Foreign currency translation             (175,815)     (175,815)  
Net Income (Loss)               (13,212,482)   (13,212,482)  
Balance at the end at Dec. 31, 2023           $ 97,590,426 $ (371,184) $ (93,465,946)   $ 3,753,296  
Balance at the end (in shares) at Dec. 31, 2023 | shares   1,166,667   18,885,254           18,885,254 18,885,254