Quarterly report pursuant to Section 13 or 15(d)

EQUITY (Tables)

v3.24.1.1.u2
EQUITY (Tables)
3 Months Ended
Mar. 31, 2024
EQUITY  
Summary of common shares reserved for future issuance

March 31, 

December 31, 

    

2024

    

2023

Warrants

 

13,456,328

 

13,595,987

Series 2 Convertible Preferred Shares

 

1,166,667

 

1,166,667

Options issued and outstanding under stock option plan

 

1,152,597

 

898,262

Deferred Share Units

 

1,061

 

1,061

Common Shares available for grant under stock option plan

 

2,639,626

 

471,843

Total Common Shares reserved for future issuance

 

18,416,279

 

16,133,820

Summary of fair value of the warrant liability

    

March 31, 

2024

Balance at December 31, 2023

$

94,185

Change in fair value of C$ warrant liability

14,133

Balance at March 31, 2024

$

108,318

A summary of warrant liability activity for the year ended December 31, 2023 is as follows:

December 31, 

2023

Balance at December 31, 2022

$

1,859,374

October 2022 PIPE warrant liability at issuance

 

Change in fair value of the warrant liability

 

(564,548)

Foreign exchange loss

 

(7,426)

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

(302,190)

Balance at December 31, 2023

$

94,185