Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Consolidated Statements of Financial Position

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Consolidated Statements of Financial Position - USD ($)
Dec. 31, 2023
Dec. 31, 2022
Jan. 01, 2022
Current      
Cash $ 3,447,665 $ 10,434,196 $ 14,869,861
Accounts receivable 60,711 81,752 40,654
Prepaid expenses 236,966 379,620 1,002,215
Deferred share issuance costs 323,441    
Total Current Assets 4,068,783 10,895,568 15,912,730
Non-current      
Contract payments 1,200,000 1,185,946 1,267,065
Intangible assets 175,254 199,834 202,125
Property and equipment 23,927 92,678  
Total Assets 5,467,964 12,374,026 17,381,920
Current      
Accounts payable and accrued liabilities 283,428 1,445,213 552,948
Current portion of lease obligation 11,510 66,090  
Total Current Liabilities 294,938 1,511,303 552,948
Non-current      
Derivative warrant liability 531,000 3,854,403 3,626,375
Lease obligation   11,509  
Total Liabilities 825,938 5,377,215 4,179,323
Shareholders' Equity      
Share capital 17,056,535 16,524,354 16,088,677
Reserves 5,468,257 6,197,158 4,991,594
Obligation to issue shares 24,746 24,746 24,746
Accumulated other comprehensive (loss) income (52,605) (52,605) 75,540
Accumulated deficit (17,854,907) (15,696,842) (7,977,960)
Total Shareholders' Equity 4,642,026 6,996,811 13,202,597
Total Liabilities and Shareholders' Equity $ 5,467,964 $ 12,374,026 $ 17,381,920