Note 11 - Related Parties

6 Months Ended

Jun. 30, 2022

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

11. RELATED PARTIES  

Related parties include the Board of Directors, officers, close family members and enterprises that are controlled by these individuals as well as certain persons performing similar functions.

The Company defines its key management as the Board of Directors, Chief Executive Officer, President, and Chief Financial Officer. Remuneration of directors and key management personnel of the Company was as follows:

	Period ended June 30,
	2022		2021––
Consulting	$	45,000	$	-
Selling general and administrative		51,951		34,884
Share-based compensation to directors and officers		32,346		94,236
	$	129,297	$	129,120

The Company for the period ended June 30, 2022 and 2021 reimbursed a related party $51,951 and $129,120, respectively, for selling, general and administrative expenses paid on behalf of the Company. The Company incurred $45,000 (2021 - $nil) of consulting fees accrued to a Company controlled by a director of the Company for the period ended June 30, 2022 and 2021. The Company also recorded share-based compensation of $32,346 (2021 - $94,236) for options vested to related parties during the period ended June 30, 2022 and 2021. The Company incurred no expenses from a related party for research and development for the period ended June 30, 2022 and 2021.