​

June 19, 2022

Carrying value of convertible debt net of issuance costs and debt discount (includes amortization of debt discount of $117,212 from April 1, 2022 to June 19, 2022)

​

$

4,166,363

Derivative liability remeasured as of June 19, 2022

​

2,741,058

Total liabilities extinguished on conversion

​

6,907,421

Fair value of Series 1 Convertible Preferred Shares recorded to additional paid-in-capital

​

5,600,000

Gain on extinguishment of convertible debt and derivative liability

​

$

1,307,421