Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Changes in Shareholders' Equity

v3.24.3
Condensed Consolidated Statements of Changes in Shareholders' Equity - USD ($)
Series 1 Convertible Preferred Shares
Preferred Shares
Series 2 Convertible Preferred Shares
Preferred Shares
Common Shares
August 2023 Pipe Financing
Common Shares
July 2024 Pipe Financing
Common Shares
Additional Paid-in Capital
August 2023 Pipe Financing
Additional Paid-in Capital
Accumulated Other Comprehensive Income (Loss)
Accumulated Deficit
August 2023 Pipe Financing
Total
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            
Condensed Consolidated Statements of Changes in Shareholders' Equity                      
Share-based compensation             266,701       266,701
Issuance of common stock, pre-funded warrants and accompanying common warrants, net of issuance costs (in shares)     9,945,970                
Issuance of common stock, pre-funded warrants and accompanying common warrants, net of issuance costs           $ 17,745,200       $ 17,745,200  
Foreign currency translation               (175,815)     (175,815)
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             443,516       443,516
Net Income (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            
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            
Condensed Consolidated Statements of Changes in Shareholders' Equity                      
Issuance of common stock, pre-funded warrants and accompanying common warrants, net of issuance costs (in shares)     9,945,970                
Issuance of common stock, pre-funded warrants and accompanying common warrants, net of issuance costs           $ 17,745,200       $ 17,745,200  
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             443,516       443,516
Net Income (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            
Balance at the beginning at Dec. 31, 2023             97,590,426 (371,184) (93,465,946)   3,753,296
Balance at the beginning (in shares) at Dec. 31, 2023   1,166,667     18,885,254            
Condensed Consolidated Statements of Changes in Shareholders' Equity                      
Conversion of Series 2 Convertible Preferred Shares (in shares)   (1,166,667)                  
Share-based compensation             202,619       202,619
Conversion of Series 2 Convertible Preferred Shares (in shares)         1,166,667            
Issuance of common stock, pre-funded warrants and accompanying common warrants, net of issuance costs (in shares)       9,757,669 75,862            
Issuance of common stock, pre-funded warrants and accompanying common warrants, net of issuance costs             190,274       190,274
Re-measurement of liability-classified CAD stock options as of September 30             81,912       81,912
Issuance of Common Shares from exercise of pre-funded warrants             28,039       28,039
Issuance of Common Shares from exercise of pre-funded warrants (in shares)         2,803,738            
Net Income (Loss)                 3,017,080   3,017,080
Balance at the end at Sep. 30, 2024             98,093,270 (371,184) (90,448,866)   7,273,220
Balance at the end (in shares) at Sep. 30, 2024         32,689,190            
Balance at the beginning at Jun. 30, 2024             97,818,797 (371,184) (99,724,691)   (2,277,078)
Balance at the beginning (in shares) at Jun. 30, 2024   1,166,667     18,961,116            
Condensed Consolidated Statements of Changes in Shareholders' Equity                      
Conversion of Series 2 Convertible Preferred Shares (in shares)   (1,166,667)     1,166,667            
Share-based compensation             121,036       121,036
Issuance of common stock, pre-funded warrants and accompanying common warrants, net of issuance costs (in shares)       9,757,669              
Re-measurement of liability-classified CAD stock options as of September 30             125,398       125,398
Issuance of Common Shares from exercise of pre-funded warrants             28,039       28,039
Issuance of Common Shares from exercise of pre-funded warrants (in shares)         2,803,738            
Net Income (Loss)                 9,275,825   9,275,825
Balance at the end at Sep. 30, 2024             $ 98,093,270 $ (371,184) $ (90,448,866)   $ 7,273,220
Balance at the end (in shares) at Sep. 30, 2024         32,689,190