Quarterly report pursuant to Section 13 or 15(d)

EQUITY (Tables)

v3.23.3
EQUITY (Tables)
9 Months Ended
Sep. 30, 2023
EQUITY  
Summary of common shares reserved for future issuance

September 30, 

December 31, 

    

2023

    

2022

Warrants

 

13,955,897

 

1,873,622

Series 1 Convertible Preferred Shares

1,166,667

1,166,667

Options issued and outstanding under stock option plan

 

1,041,492

 

1,043,025

Deferred Share Units

 

1,061

 

1,061

Common Shares available for grant under stock option plan

 

397,613

 

396,080

Total Common Shares reserved for future issuance

 

16,562,730

 

4,480,455

Summary of fair value of the warrant liability

    

September 30, 

2023

Balance at December 31, 2022

$

1,859,374

Change in fair value of US$ warrant liability

 

(564,549)

Foreign exchange loss

 

(7,425)

Fair value of US$ warrant liability as of June 30, 2023

1,287,400

Fair value of previously liability-classified US$ warrants reclassified to additional paid-in-capital as of July 1, 2023

(1,287,400)

Fair value of previously equity-classified C$ warrants reclassified to warrant liability as of July 1, 2023

396,375

Change in fair value of C$ warrant liability

(119,019)

Balance at September 30, 2023

$

277,356

A summary of warrant liability activity for the year ended December 31, 2022 is as follows:

December 31, 

2022

Balance at December 31, 2021

$

1,871,687

October 2022 PIPE warrant liability at issuance

 

1,520,401

Change in fair value of the warrant liability

 

(1,533,644)

Foreign exchange loss

 

930

Balance at December 31, 2022

$

1,859,374