Quarterly report pursuant to Section 13 or 15(d)

Share Capital (Tables)

v3.23.3
Share Capital (Tables)
9 Months Ended
Sep. 30, 2023
Equity [Abstract]  
Summary Of Warrants Activity

The following table summarizes certain information in respect of the Company’s warrants:

 

September 30, 2023

 

December 31, 2022

 

Units

 

Weighted Average Exercise Price (C$)

 

Units

 

Weighted Average Exercise Price (C$)

Warrants outstanding, beginning

 

 

$

 

22,640

 

$

3.56

Forfeited

 

 

 

 

(17,955)

 

 

2.52

Expired

 

 

 

 

(4,685)

 

 

7.53

Warrants outstanding, ending

 

 

$

 

 

$

Summary Of Potentially Dilutive Securities

The following table summarizes potentially dilutive securities, and the resulting common share equivalents outstanding as of September 30, 2023 and December 31, 2022:

 

 

September 30, 2023

 

December 31, 2022

Common share options

 

7,877

 

7,877

Restricted stock units

 

337,115

 

173,230

Total

 

344,992

 

181,107

Summary Of Option Activity

The following table summarizes certain information in respect of option activity during the period:

.

 

Nine Months Ended September 30, 2023

 

 

Year Ended December 31, 2022

 

 

Units

 

 

Weighted Average
Exercise Price
(1)

 

 

Weighted Average Contractual Life

 

 

Units

 

 

Weighted Average
Exercise Price
(1)

 

Weighted Average Contractual Life

Options outstanding, beginning

 

7,877

 

$

0.05

 

 

7.78

 

 

10,504

 

$

3.65

 

Granted

 

 

 

 

 

 

 

7,877

 

 

0.05

 

Cancellations

 

 

 

 

 

 

 

(7,111)

 

 

3.48

 

Forfeitures

 

 

 

 

 

 

 

(3,152)

 

 

4.33

 

Expirations

 

 

 

 

 

 

 

(241)

 

 

0.89

 

Options outstanding, ending (2)

 

7,877

 

$

0.05

 

 

6.78

 

 

7,877

 

$

0.05

 

7.78

 

(1)
The Original Awards are denominated in Canadian dollars. Exercise prices have been converted to U.S. dollar equivalents using an exchange rate of CAD$1.352 to $1.00 as of September 30, 2023.
(2)
As of September 30, 2023, 7,877 of the stock options outstanding were exercisable (December 31, 2022 - 6,564).
Summary Of Restricted Stock Units Activity

The following table summarizes certain information in respect of RSU activity during the period:

 

 

Nine Months Ended September 30, 2023

 

Year Ended December 31, 2022

 

 

Units

 

 

Weighted
Average
Grant Price
(1)

 

 

Units

 

 

Weighted
Average
Grant Price
(1)

Unvested balance, beginning

 

129,671

 

$

0.07

 

 

 

$

Granted

 

246,121

 

 

0.02

 

 

474,557

 

 

0.08

Vested

 

(97,932)

 

 

0.08

 

 

(263,155)

 

 

0.09

Forfeited

 

(9,983)

 

 

0.07

 

 

(81,731)

 

 

0.10

Unvested balance, ending

 

267,877

 

$

0.02

 

 

129,671

 

$

0.07

 

(1)
Weighted average grant price is presented in U.S. dollars for the nine months ended September 30, 2023, as compared to previously issued financial statements, which present this figure in Canadian dollars.
Summary Of Black Scholes Option Pricing Model

The Company used the Black-Scholes option pricing model to estimate the fair value of the options at the grant date using the following assumptions:

 

 

September 30, 2023

 

December 31, 2022

Risk-free interest rate

 

 

3.8%

Expected dividend yield

 

 

0.0%

Expected volatility

 

 

128.6%

Expected life

 

 

4.3 years