Quarterly report pursuant to Section 13 or 15(d)

EQUITY (Tables)

v3.23.3
EQUITY (Tables)
9 Months Ended
Sep. 30, 2023
EQUITY  
Summary of common shares reserved for future issuance

​

​

​

​

​

​

​

​

​

September 30, 

​

December 31, 

​

​

    

2023

    

2022

​

Warrants

 

13,955,897

 

1,873,622

​

Series 1 Convertible Preferred Shares

​

1,166,667

​

1,166,667

​

Options issued and outstanding under stock option plan

 

1,041,492

 

1,043,025

​

Deferred Share Units

 

1,061

 

1,061

​

Common Shares available for grant under stock option plan

 

397,613

 

396,080

​

Total Common Shares reserved for future issuance

 

16,562,730

 

4,480,455

​

Summary of fair value of the warrant liability

​

​

​

​

​

​

    

September 30, 

​

​

2023

Balance at December 31, 2022

​

$

1,859,374

Change in fair value of US$ warrant liability

​

 

(564,549)

Foreign exchange loss

​

 

(7,425)

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

​

​

(119,019)

Balance at September 30, 2023

​

$

277,356

​

A summary of warrant liability activity for the year ended December 31, 2022 is as follows:

​

​

​

​

​

​

​

December 31, 

​

​

2022

Balance at December 31, 2021

​

$

1,871,687

October 2022 PIPE warrant liability at issuance

​

 

1,520,401

Change in fair value of the warrant liability

​

 

(1,533,644)

Foreign exchange loss

​

 

930

Balance at December 31, 2022

​

$

1,859,374