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

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Weighted

    

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Weighted

 

Average

 

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Average

 

Remaining

 

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Number of

 

Exercise

 

Contractual

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Aggregate

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Share

 

Price Per

 

Term

​

Intrinsic

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​

Options

​

Share

 

(years)

​

Value

Outstanding as of December 31, 2023

 

898,262

​

$

7.58

 

6.5

​

$

—

Expired

 

(79,769)

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9.16

 

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Outstanding as of September 30, 2024

 

818,493

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7.43

 

6.6

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​

—

Vested and exercisable as of September 30, 2024

 

757,541

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$

7.37

 

6.6

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$

—

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Weighted

    

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Weighted

 

Average

 

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Average

 

Remaining

 

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Number of

 

Exercise

 

Contractual

​

Aggregate

​

​

Share

 

Price Per

 

Term

​

Intrinsic

​

​

Options

​

Share

 

(years)

​

Value

Outstanding as of December 31, 2023

 

69,000

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$

1.87

 

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$

—

Granted

 

200,000

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1.17

 

  

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16,000

Outstanding as of September 30, 2024

 

269,000

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1.35

 

9.2

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​

16,000

Vested and exercisable as of September 30, 2024

 

200,000

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$

1.17

 

9.3

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$

16,000

Summary of share-based compensation liability activity

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September 30, 

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​

2024

Balance at December 31, 2023

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$

422,002

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

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(81,912)

Balance at September 30, 2024

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$

340,090

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December 31, 

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2023

Balance at December 31, 2022

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$

—

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

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​

1,768,515

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

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​

(332,603)

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

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​

(1,013,910)

Balance at December 31, 2023

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$

422,002

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

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Nine Months Ended

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September 30, 

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2024

    

Weighted average fair value of C$ Options

​

C$

0.45

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Expected volatility

 

​

101.2

%  

Risk-free interest rate

 

​

3.66

%  

Expected dividend yield

 

​

—

%  

Expected term (years)

 

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6.6

 

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Nine Months Ended

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September 30, 2024

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Weighted average fair value of US$ Options

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$

0.91

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Expected volatility

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​

98.6

%

Risk-free interest rate

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​

3.90

%

Expected dividend yield

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​

—

%

Expected term (years)

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​

5.8

 

Summary of total share-based compensation

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Three Months Ended

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Nine Months Ended

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September 30, 

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September 30, 

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​

    

2024

    

2023

    

2024

    

2023

​

Research and development

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$

3,853

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$

39,109

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$

11,478

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$

78,018

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General and administrative

​

 

117,183

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95,082

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191,141

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188,683

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Total share-based compensation

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$

121,036

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$

134,191

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$

202,619

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$

266,701

​