Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Shareholders' Equity

v3.25.1
Consolidated Statements of Shareholders' Equity - USD ($)
Preferred Shares
Series 1 Preferred Shares
Preferred Shares
Series 2 preferred shares
Common Shares
July 2024 Pipe Financing
Common Shares
Additional Paid-in Capital
Accumulated Other Comprehensive Loss
Accumulated Deficit
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        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Share-based compensation         271,542     271,542
Issuance of common shares, net of issuance costs         17,745,200     17,745,200
Issuance of common shares, net of issuance costs (in shares)       9,945,969        
Exercise of pre-funded warrants         3,600     3,600
Exercise of pre-funded warrants (in shares)       360,001        
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         (1,435,912)     (1,435,912)
Re-measurement of liability-classified CAD stock options         1,013,910     1,013,910
Exchange of Series 1 Convertible Preferred Shares for Series 2 Convertible Preferred Shares (70,000,000) 1,166,667            
Foreign currency translation           (175,815)   (175,815)
Net Income (Loss)             (13,212,482) (13,212,482)
Balance at the end at Dec. 31, 2023         97,590,426 (371,184) (93,465,946) 3,753,296
Balance at the end (in shares) at Dec. 31, 2023   1,166,667   18,885,254        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Share-based compensation         825,808     825,808
Conversion of Series 2 Convertible Preferred Shares (in shares)   (1,166,667)   1,166,667        
Issuance of common shares, net of issuance costs         190,274     190,274
Issuance of common shares, net of issuance costs (in shares)     9,757,669 75,862        
Exercise of pre-funded warrants         28,038     28,038
Exercise of pre-funded warrants (in shares)       2,803,738        
Reclassification of USD denominated warrants from warrant liability to additional paid-in capital due to change in functional currency         8,689,148     8,689,148
Re-measurement of liability-classified CAD stock options         222,739     222,739
Net Income (Loss)             2,778,873 2,778,873
Balance at the end at Dec. 31, 2024         $ 107,546,433 $ (371,184) $ (90,687,073) $ 16,488,176
Balance at the end (in shares) at Dec. 31, 2024       32,689,190