Quarterly report pursuant to Section 13 or 15(d)

SHARE-BASED COMPENSATION (Tables)

v3.24.3
SHARE-BASED COMPENSATION (Tables)
9 Months Ended
Sep. 30, 2024
SHARE-BASED COMPENSATION  
Summary of the activity of share options

    

    

    

Weighted

    

 

 

Weighted

 

Average

 

 

 

Average

 

Remaining

 

Number of

 

Exercise

 

Contractual

Aggregate

Share

 

Price Per

 

Term

Intrinsic

Options

Share

 

(years)

Value

Outstanding as of December 31, 2023

 

898,262

$

7.58

 

6.5

$

Expired

 

(79,769)

 

9.16

 

 

Outstanding as of September 30, 2024

 

818,493

 

7.43

 

6.6

Vested and exercisable as of September 30, 2024

 

757,541

$

7.37

 

6.6

$

    

    

    

Weighted

    

 

 

Weighted

 

Average

 

 

 

Average

 

Remaining

 

Number of

 

Exercise

 

Contractual

Aggregate

Share

 

Price Per

 

Term

Intrinsic

Options

Share

 

(years)

Value

Outstanding as of December 31, 2023

 

69,000

$

1.87

 

$

Granted

 

200,000

 

1.17

 

  

 

16,000

Outstanding as of September 30, 2024

 

269,000

 

1.35

 

9.2

16,000

Vested and exercisable as of September 30, 2024

 

200,000

$

1.17

 

9.3

$

16,000

Summary of share-based compensation liability activity

    

September 30, 

2024

Balance at December 31, 2023

$

422,002

Increase in additional paid-in-capital due to decrease in fair value of share-based compensation liability

(81,912)

Balance at September 30, 2024

$

340,090

    

December 31, 

2023

Balance at December 31, 2022

$

Share-based compensation liability of C$ options at reclassification on change in functional currency

1,768,515

Reduction in share-based compensation expense due to decrease in fair value of share-based compensation liability

(332,603)

Increase in additional paid-in-capital due to decrease in fair value of share-based compensation liability

(1,013,910)

Balance at December 31, 2023

$

422,002

Summary of fair value of share options granted estimated using Black Scholes with the assumptions

Nine Months Ended

September 30, 

    

2024

    

Weighted average fair value of C$ Options

C$

0.45

Expected volatility

 

101.2

%  

Risk-free interest rate

 

3.66

%  

Expected dividend yield

 

%  

Expected term (years)

 

6.6

 

Nine Months Ended

September 30, 2024

Weighted average fair value of US$ Options

$

0.91

Expected volatility

98.6

%

Risk-free interest rate

3.90

%

Expected dividend yield

%

Expected term (years)

5.8

 

Summary of total share-based compensation

Three Months Ended

Nine Months Ended

September 30, 

September 30, 

    

2024

    

2023

    

2024

    

2023

Research and development

$

3,853

$

39,109

$

11,478

$

78,018

General and administrative

 

117,183

 

95,082

 

191,141

 

188,683

Total share-based compensation

$

121,036

$

134,191

$

202,619

$

266,701