Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Changes in Shareholders' Equity (Deficit)

v3.23.3
Condensed Consolidated Statements of Changes in Shareholders' Equity (Deficit) - USD ($)
Series1 Convertible Preferred Shares
Common Shares
Additional Paid-in Capital
Accumulated Other Comprehensive Income (Loss)
Accumulated Deficit
Total
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   7,195,529        
Changes in Shareholders' Deficit            
Share-based compensation     348,861     348,861
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) 70,000,000          
Foreign currency translation       (82,397)   (82,397)
Net loss         (10,796,758) (10,796,758)
Balance at the end at Sep. 30, 2022     73,988,039 (270,316) (72,987,959) 729,764
Balance at the end (in shares) at Sep. 30, 2022 70,000,000 7,195,529        
Balance at the beginning at Jun. 30, 2022     73,879,455 (138,442) (67,031,084) 6,709,929
Balance at the beginning (in shares) at Jun. 30, 2022   7,195,529        
Changes in Shareholders' Deficit            
Share-based compensation     108,584     108,584
Conversion of convertible debt and derivative liability to Series 1 Convertible Preferred Shares (in shares) 70,000,000          
Foreign currency translation       (131,874)   (131,874)
Net loss         (5,956,875) (5,956,875)
Balance at the end at Sep. 30, 2022     73,988,039 (270,316) (72,987,959) 729,764
Balance at the end (in shares) at Sep. 30, 2022 70,000,000 7,195,529        
Balance at the beginning at Dec. 31, 2022     79,101,061 (195,369) (80,253,464) $ (1,347,772)
Balance at the beginning (in shares) at Dec. 31, 2022 70,000,000 8,579,284       8,579,284
Changes in Shareholders' Deficit            
Share-based compensation     266,701     $ 266,701
Foreign currency translation       (175,815)   (175,815)
Proceeds from the issuance of common stock, pre-funded warrants and accompanying common warrants in August 2023 PIPE, net of issuance costs of $2,738,558     17,745,200     17,745,200
Proceeds from the issuance of common stock, pre-funded warrants and accompanying common warrants in August 2023 PIPE, net of issuance costs of $2,738,558 (in shares)   9,945,970        
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
Reclassification of CAD denominated warrants from additional paid-in capital to warrant liability due to change in functional currency     (396,375)     (396,375)
Reclassification of CAD equity-classified stock options to share-based compensation liability due to change in functional currency     (1,435,913)     (1,435,913)
Re-measurement of liability-classified CAD stock options as of September 30, 2023     443,516     443,516
Net loss         (9,632,053) (9,632,053)
Balance at the end at Sep. 30, 2023     97,011,590 (371,184) (89,885,517) $ 6,754,889
Balance at the end (in shares) at Sep. 30, 2023 70,000,000 18,525,254       18,525,254
Balance at the beginning at Jun. 30, 2023     79,367,762 (371,184) (87,524,869) $ (8,528,291)
Balance at the beginning (in shares) at Jun. 30, 2023 70,000,000 8,579,284        
Changes in Shareholders' Deficit            
Proceeds from the issuance of common stock, pre-funded warrants and accompanying common warrants in August 2023 PIPE, net of issuance costs of $2,738,558     17,745,200     17,745,200
Proceeds from the issuance of common stock, pre-funded warrants and accompanying common warrants in August 2023 PIPE, net of issuance costs of $2,738,558 (in shares)   9,945,970        
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
Reclassification of CAD denominated warrants from additional paid-in capital to warrant liability due to change in functional currency     (396,375)     (396,375)
Reclassification of CAD equity-classified stock options to share-based compensation liability due to change in functional currency     (1,435,913)     (1,435,913)
Re-measurement of liability-classified CAD stock options as of September 30, 2023     443,516     443,516
Net loss         (2,360,648) (2,360,648)
Balance at the end at Sep. 30, 2023     $ 97,011,590 $ (371,184) $ (89,885,517) $ 6,754,889
Balance at the end (in shares) at Sep. 30, 2023 70,000,000 18,525,254       18,525,254