Share based compensation (Tables)

12 Months Ended

Dec. 31, 2021

Share based compensation

Stock Based Compensation Expense

	For the years ended December 31,
	2021		2020		2019
Stock Option Expense	$	26,250	$	34,223	$	43,809
Deferred Share Units		-		15,000		-
Restricted Stock Units		154,715		111,060		-
Employee Share Purchase Plan		106,935		8,133		-
Total stock based compensation expense		287,900		168,416		43,809

Stock Options Outstanding

Exercise price per share	# of options outstanding	# of options exercisable	Average remaining life (in years)
$0.44	21,360	21,360	4.5
$0.49	8,500	8,500	4.2
$0.51	16,000	16,000	3.7
$0.52	100,000	100,000	2.5
$0.55	30,000	30,000	3.1
$0.59	150,000	150,000	1.8
$0.62	18,050	18,050	5.0
$0.68	14,750	14,750	4.7
	358,660	358,660	2.7

Stock Option Activity

	For the year ended						For the year ended
	December 31, 2021						December 31, 2020
				weighted						Weighted
	# of stock			average			# of stock			Average
	options			exercise price			options			exercise price
Options outstanding, start of the year		421,000		$	0.83			1,169,500		$	1.48
Granted		62,660		$	0.56			46,000		$	0.54
Expired		(125,000	)	$	(1.48	)		(794,500	)	$	(1.77	)
Forfeited		-			-			-			-
Options outstanding, end of the year		358,660		$	0.56			421,000		$	0.83
Options exercisable, end of the year		358,660		$	0.56			421,000		$	0.83

	For the year ended
	December 31, 2019
				weighted
	# of stock			average
	options			exercise price
Options outstanding, start of the year		1,297,000		$	1.58
Granted		100,000		$	0.52
Expired		(47,500	)	$	(1.51	)
Forfeited		(180,000	)	$	(1.70	)
Options outstanding, end of the year		1,169,500		$	1.48
Options exercisable, end of the year		1,119,000		$	1.52

Weighted Average Assumptions

For the year ended	2021			2020			2019
Expected dividends paid per common share	Nil			Nil			Nil
Expected life in years		5.0			5.0			5.0
Weighted average expected volatility in the price of common shares		108	%		138	%		65	%
Weighted average risk free interest rate		0.38	%		1.12	%		1.68	%
Weighted average fair market value per share at grant date	$	0.56		$	0.54		$	0.52
Intrinsic (or “in-the-money”) value per share of options exercised	$	-		$	-		$	-

Deferred Stock Unit Activity

	For the years ended
Opening balance	2021		2020
DSUs outstanding, start of the year		37,354		-
Granted		-		37,354
Closing balance		37,354		37,354

Restricted Stock Unit Activity

							For the years ended,
	December 31, 2021						December 31, 2020
	# of RSUs			FV/Unit			# of RSUs		FV/Unit
RSUs outstanding, start of the year		1,200,000		$	0.79			-		-
Granted		-			-			1,200,000	$	0.45
Common shares issued		(208,370	)	$	(0.55	)		-		-
Payroll withholdings settled in cash		(139,964	)	$	(0.55	)		-		-
Forfeited		(155,000	)	$	(0.79	)		-		-
RSUs outstanding, end of the year		696,666		$	0.61			1,200,000	$	0.79

Employee Stock Purchase Plan

					For the years ended,
	December 31, 2021				December 31, 2020
	# of shares		$ amount		# of shares		$ amount
Purchased by employees		127,790	$	69,260		16,686	$	7,592
Matched by the Company		102,641		55,733		14,213		6,467
Bonus match by the Company		74,119		48,030		-		-
Total Common Shares issued		304,550		173,023		30,899		14,059