Note 11 - Related Parties

9 Months Ended

Sep. 30, 2024

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

11. RELATED PARTIES

Related parties include 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 Directors, Chief Executive Officer, President, and Chief Financial Officer. Remuneration of directors and key management personnel of the Company for the period ended September 30, 2024 and 2023 was as follows:

	2024		2023
Consulting	$	75,000	$	135,000
Selling general and administrative		47,757		79,913
Share-based compensation to directors and officers		-		1,442
	$	122,757	$	216,355

The Company for the periods ended September 30, 2024 and 2023 reimbursed a related party $47,757 and $79,913 respectively, for selling, general and administrative expenses paid on behalf of the Company. The Company incurred $75,000 (2023 - $135,000) of consulting fees accrued to a company controlled by a director of the Company for the periods ended September 30, 2024 and 2023.

The Company also recorded share-based compensation of $Nil (2023 - $1,442) for options vested to related parties during the periods ended September 30, 2024 and 2023.