Financial instruments and risk management (Tables)
|
12 Months Ended |
Dec. 31, 2023 |
|---|
| Financial instruments and risk management |
|
| Schedule of financial instruments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2023 |
|
December 31, 2022 |
|
|
|
|
Carrying |
|
Estimated |
|
Carrying |
|
Estimated |
|
|
Level |
|
Value |
|
Fair Value |
|
Value |
|
Fair Value |
FVTPL |
|
|
|
$ |
|
$ |
|
$ |
|
$ |
Cash |
|
1 |
|
3,447,665 |
|
3,447,665 |
|
10,434,196 |
|
10,434,196 |
Financial liabilities at amortized cost |
|
|
|
|
|
|
|
|
|
|
Accounts payable and accrued liabilities |
|
1 |
|
283,428 |
|
283,428 |
|
1,445,213 |
|
1,445,213 |
Lease liability |
|
2 |
|
11,510 |
|
11,510 |
|
77,599 |
|
77,599 |
FVTPL |
|
|
|
|
|
|
|
|
|
|
Derivative warrant liability |
|
3 |
|
531,000 |
|
531,000 |
|
3,854,403 |
|
3,854,403 |
|
| Schedule of company's maximum exposure to credit risk |
|
|
|
|
|
|
|
December 31, |
|
December 31, |
|
|
2023 |
|
2022 |
|
|
$ |
|
$ |
|
|
|
|
|
Cash |
|
3,447,665 |
|
10,434,196 |
|
| Schedule of contractual maturities of these financial liabilities |
|
|
|
|
|
|
|
|
|
|
|
Payments due by period as of December 31, 2023 |
|
|
|
|
|
|
Between 3 |
|
|
|
|
|
|
Less than |
|
months and |
|
|
|
|
Total |
|
3 months |
|
1 year |
|
1-3 years |
|
|
$ |
|
$ |
|
$ |
|
$ |
|
|
|
|
|
|
|
|
|
Accounts payable and accrued liabilities |
|
283,428 |
|
283,428 |
|
— |
|
— |
Lease liability |
|
11,510 |
|
11,510 |
|
— |
|
— |
|
|
|
|
|
|
|
|
|
|
|
294,938 |
|
294,938 |
|
— |
|
— |
|
|
|
|
|
|
|
|
|
|
|
Payments due by period as of December 31, 2022 |
|
|
|
|
|
|
Between 3 |
|
|
|
|
|
|
Less than |
|
months and |
|
|
|
|
Total |
|
3 months |
|
1 year |
|
1-3 years |
|
|
$ |
|
$ |
|
$ |
|
$ |
Accounts payable and accrued liabilities |
|
1,445,213 |
|
1,445,213 |
|
— |
|
— |
Lease liability |
|
77,599 |
|
16,064 |
|
50,026 |
|
11,509 |
|
|
1,522,812 |
|
1,461,277 |
|
50,026 |
|
11,509 |
|
| Schedule of the sensitivity of the Company's net earnings due to changes in the exchange rate between the USD, GBP and EUR against the Canadian dollar |
|
|
|
|
|
|
|
|
|
|
|
CAD |
|
GBP amount |
|
EUR |
|
Total |
|
|
$ |
|
$ |
|
$ |
|
$ |
Cash |
|
36,627 |
|
— |
|
— |
|
36,627 |
Accounts payable and accrued liabilities |
|
(173,068) |
|
— |
|
— |
|
(173,068) |
Net exposure |
|
(136,441) |
|
— |
|
— |
|
(136,441) |
|
|
|
|
|
|
|
|
|
Effect of +/- 10% change in currency |
|
(13,644) |
|
— |
|
— |
|
— |
|