XML 61 R47.htm IDEA: XBRL DOCUMENT v3.22.0.1
DERIVATIVE WARRANT LIABILITY FROM FINANCING AND CONVERTIBLE NOTE (Tables)
12 Months Ended
Dec. 31, 2021
Disclosure of detailed information about financial instruments [line items]  
Schedule of key assumptions used in binomial tree model to estimate fair value

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​

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​

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​

​

​

December 31,

 

Valuation Date

    

2019

 

Price of Common Shares

​

$

5.41

​

Dividend Yield

​

 

0

%

Historical volatility of Common Shares

​

 

129.54

%

Historical volatility of index

​

 

11.65

%

Volatility input

​

 

70.59

%

Risk-free rate

​

 

1.79

%

Credit spread

​

 

23.00

%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Valuation Date

    

December 31,
2021

    

​

December 31,
2020

​

    

December 31,
2019

    

May 16,
2019

​

Price of Common Shares

​

$

0.47

​

​

$

0.95

​

​

$

5.41

​

$

49.46

​

Dividend Yield

​

​

0

%

​

​

0

%

​

​

0

%

 

0

%

Historical volatility of Common Shares

​

​

93.47

%

​

​

103.42

%

​

​

124.77

%

 

142.38

%

Historical volatility of index

​

​

13.44

%

​

​

23.11

%

​

​

13.76

%

 

15.66

%

Volatility input

​

​

53.45

%

​

​

63.26

%

​

​

69.26

%

 

79.02

%

Risk-free rate

​

​

0.67

%

​

​

0.19

%

​

​

1.65

%

 

2.13

%

Credit spread

​

​

14.89

%

​

​

18.18

%

​

​

27.15

%

 

19.64

%

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​

​

​

​

​

​

​

​

​

​

​

​

​

December 31,

​

December 31,

​

May 28,

​

Valuation Date

    

 2021

    

 2020

    

2020

 

Price of Common Shares

​

$

0.47

​

$

0.95

​

$

2.86

​

Dividend Yield

​

 

0

%  

 

0

%  

 

0

%

Historical volatility of Common Shares

​

 

91.91

%  

 

116.72

%  

 

127.50

%

Historical volatility of index

​

 

21.86

%  

 

20.74

%  

 

18.91

%

Volatility input

​

 

56.89

%  

 

68.73

%  

 

73.21

%

Risk-free rate

​

 

1.02

%  

 

0.26

%  

 

0.32

%

Credit spread

​

 

11.13

%  

 

14.42

%  

 

19.35

%

Convertible Notes.  
Disclosure of detailed information about financial instruments [line items]  
Schedule of carrying amounts of derivative financial liabilities and convertible notes

The carrying amounts for the 2017 derivative warrant liability from financing are as follows:

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​

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​

​

​

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​

​

​

​

​

​

    

 Series A Units

    

 Series B Units

    

Series E
Warrants

    

Total

Balance, Derivative financial liability January 1, 2019

​

$

35,693

​

$

82,523

​

$

72,087

​

$

190,303

Less:

​

​

​

​

​

​

​

​

​

​

​

​

Exercise of 822,192 Series C Warrants

​

​

(5,638)

​

​

—

​

​

—

​

​

(5,638)

Fair value adjustment, March 31, 2019

​

​

(5,575)

​

​

(5,253)

​

​

(6,677)

​

​

(17,505)

Cancellation of 35,950,340 Series A Warrants

​

​

(24,480)

​

​

(77,270)

​

​

—

​

​

(101,750)

Cancellation of 22,431,506 Series E Warrants

​

​

—

​

​

—

​

​

(65,410)

​

​

(65,410)

Balance, derivative warrant liability from financing as at December 31, 2019, 2020 and 2021

​

$

—

​

$

—

​

$

—

​

$

—

​

​

​

​

​

​

    

2017 Convertible Notes

Balance, convertible notes January 1, 2019

​

​

14,617,336

Less: Exercise of 11,197,000 convertible notes

​

 

(13,095,938)

Fair value adjustment

​

 

3,878,791

Balance, convertible notes December 31, 2019

​

$

5,400,189

Fair value adjustment, (unrealized) loss due to changes in credit spread

​

 

(17,122)

Fair value adjustment, March 31, 2020 unrealized gain

​

 

(1,599,573)

Balance, convertible notes March 31, 2020

​

$

3,783,494

Less: Exercise of 1,016,000 convertible notes

​

​

(1,293,093)

Fair value adjustment Settlement Warrants

​

 

(807,977)

Fair value adjustment at maturity realized loss

​

​

1,214,576

Re-payment of convertible note

​

​

(2,897,000)

Balance, convertible notes December 31, 2020 and 2021

​

$

—

2017 Convertible Notes, current

​

$

—

2017 Convertible Notes, non-current

​

$

—

​

​

16.    DERIVATIVE WARRANT LIABILITY FROM FINANCING AND CONVERTIBLE NOTES (continued)

(e)     Warrants and Convertible Notes Model (continued)

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2019 Convertible Notes

Fair value, May 16, 2019

​

$

9,775,000

Fair value adjustment,

​

 

(509,520)

Balance, convertible notes December 31, 2019

​

$

9,265,480

Re-payment of convertible note July 23 conversion

​

 

(3,613,341)

Re-payment of convertible note August 17 conversion

​

 

(1,263,884)

Fair value adjustment, Repayment warrants

​

 

(161,720)

alized loss

​

 

39,730

Fair value adjustment, realized loss

​

 

636,154

Fair value adjustment, unrealized loss due to changes in credit spread

​

 

1,292,938

Balance, convertible notes December 31, 2020

​

$

6,195,357

Fair value adjustment, unrealized loss

​

 

104,038

Fair value adjustment, unrealized loss due to changes in credit spread

​

 

288,034

Balance, convertible notes December 31, 2021

​

$

6,587,429

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31,

​

December 31,

​

December 31,

Presented on the consolidated statements of financial position as:

    

2021

    

2020

    

2019

2019 Convertible Notes, current

​

$

38,633

​

$

38,633

​

$

1,090,561

2019 Convertible Notes, non-current

​

$

6,548,796

​

$

6,156,724

​

$

8,174,919

​

​

​

​

​

​

    

2020 Convertible Notes

Fair value, May 26, 2020

 

​

6,449,634

Deferred loss

 

​

(3,511,670)

Amortization of deferred loss

 

​

516,938

Fair value adjustment, unrealized gain

 

​

(1,075,620)

Fair value adjustment, realized loss

 

​

37,525

Fair value adjustment, unrealized loss due to changes in credit spread

 

​

199,395

Balance, convertible notes December 31, 2020

​

$

2,616,202

Amortization of deferred loss

​

 

877,916

Fair value adjustment, unrealized gain

​

 

(18,134)

Fair value adjustment, realized loss

​

 

3,062

Fair value adjustment, unrealized gain due to changes in credit spread

​

 

(18,726)

Balance, convertible notes December 31, 2021

​

$

3,460,320

​

​

Derivative warrant liability  
Disclosure of detailed information about financial instruments [line items]  
Schedule of carrying amounts of derivative financial liabilities and convertible notes

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January 2020 Warrants

Inception of the January 2020 Warrants (see Note 18(e))

 

​

6,145,620

Deferred loss

 

​

(223,791)

January 31 exercise 1,241,490 pre-funded warrants

 

​

(3,885,746)

Fair value adjustment, January 31 realized gain

 

​

(422,102)

Derecognition of deferred loss

​

​

93,813

May 28 exercise 1,185,000 Series A; 991,940 Series B

​

 

(969,133)

Fair value adjustment, May 28 realized loss

​

 

957,847

Derecognition of deferred loss

​

​

76,473

Amortization of deferred loss

​

 

63,064

Fair value adjustment, unrealized gain

​

 

(1,824,698)

Balance, December 31, 2020

​

$

11,347

Amortization of deferred loss

​

 

20,504

Fair value adjustment, unrealized gain

​

 

(1,616)

Balance, December 31, 2021

​

$

30,235

Number of warrants outstanding as of December 31, 2021

​

​

250,000

​

​

 

May 2020 Warrants

Inception of the May 2020 Warrants (see Note 18(e))

​

 

4,526,732

Deferred loss

​

 

(2,464,696)

July 23 exercise 1,424,049 warrants

​

 

(2,082,598)

August 17 exercise of 501,000 warrants

​

 

(565,221)

Derecognition of deferred loss

​

 

1,843,332

Amortization of deferred loss

​

 

126,997

Fair value adjustment, unrealized gain

​

 

(1,641,185)

Balance,December 31, 2020

​

$

(256,639)

Amortization of deferred loss

​

 

141,414

Fair value adjustment, unrealized gain

​

 

(231,862)

Balance, December 31, 2021

​

$

(347,087)

Number of warrants outstanding as of December 31, 2021

​

​

648,910

​

​

 

June 2020 Warrants

Inception of the June 2020 Warrants (see Note 18(e))

​

 

2,404,957

Deferred loss

​

 

(448,877)

Amortization of deferred loss

​

 

121,751

Fair value adjustment, unrealized gain

​

 

(2,127,007)

Balance, December 31, 2020

​

$

(49,176)

Amortization of deferred loss

​

 

180,220

Fair value adjustment, unrealized gain

​

 

(235,947)

Balance, December 31, 2021

​

$

(104,903)

Number of warrants outstanding as of December 31, 2021

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​

2,912,277

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​

 

August 2020 Warrants

Inception of the August 2020 Warrants (see Note 18(e))

​

 

3,511,115

Deferred loss

​

 

(3,167,758)

Amortization of deferred loss

​

 

611,854

Fair value adjustment, unrealized gain

​

 

(3,150,303)

Balance, December 31, 2020

​

$

(2,195,092)

February 12 exercise of 125,000 warrants

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​

(80,856)

Derecognition of deferred loss

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​

87,118

Fair value adjustment, February 12 realized gain

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​

(48,244)

Amortization of deferred loss

​

 

1,250,393

Fair value adjustment, unrealized gain

​

 

(177,403)

Balance, December 31, 2021

​

$

(1,164,084)

Number of warrants outstanding as of December 31, 2021

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​

3,274,579

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​

 

December 2020 Warrants

Inception of the December 2020 Warrants (see Note 18(e))

​

 

2,051,657

Deferred loss

​

 

(1,278,414)

Amortization of deferred loss

​

 

40,279

Fair value adjustment, unrealized loss

​

 

370,769

Balance, December 31, 2020

​

$

1,184,291

February 12 exercise of 1,828,479 warrants

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​

(2,545,349)

Derecognition of deferred loss

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​

341,242

Fair value adjustment, February 12 realized loss

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​

1,943,274

Amortization of deferred loss

​

​

401,539

Fair value adjustment, unrealized gain

​

​

(1,375,260)

Balance, December 31, 2021

​

$

(50,263)

Number of warrants outstanding as of December 31, 2021

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​

4,402,324

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​

2020 Repayment Warrants

Inception of the 2020 Repayment Warrants (see Note 18(e))

​

​

161,720

Fair value adjustment, unrealized gain

​

​

(152,272)

Balance, December 31, 2020

​

$

9,448

Fair value adjustment, unrealized gain

​

​

(9,374)

Balance, December 31, 2021

​

$

74

Number of warrants outstanding as of December 31, 2021

​

​

650,296

​

​

 

2020 Settlement Warrants

Inception of the 2020 Settlement Warrants (see Note 18(e))

​

 

807,977

Fair value adjustment, unrealized gain

​

 

(606,304)

Balance, December 31, 2020

​

$

201,673

Fair value adjustment, unrealized gain

​

 

(197,134)

Balance, December 31, 2021

​

$

4,539

Number of warrants outstanding as of December 31, 2021

​

​

500,000

​

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16.    DERIVATIVE WARRANT LIABILITY FROM FINANCING AND CONVERTIBLE NOTES (continued)

(e)     Warrants and Convertible Notes Model (continued)

​

The following table lists 2020 Convertible notes and warrants and derivative warrant liabilities outstanding as at December 31, 2021:

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​

​

​

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Convertible notes – 2020 Convertible notes

    

$

3,460,320

Derivative liability – 2020 January warrants

​

 

30,235

Derivative liability – 2020 May warrants

​

 

(347,087)

Derivative liability – 2020 June warrants

​

 

(104,903)

Derivative liability – 2020 August warrants

​

 

(1,164,084)

Derivative liability – 2020 December warrants

​

 

(50,263)

Derivative liability – 2020 Repayment warrants

​

 

74

Derivative liability – 2020 Settlement warrants

​

 

4,539

Balance, 2020 Convertible notes and warrants and derivative liabilities December 31, 2021

​

$

1,828,831

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​

​

​

Presented on the consolidated statements of financial position as:

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2020 Convertible notes, warrants and derivative liabilities, current

​

$

40,587

2020 Convertible notes, warrants and derivative liabilities, non-current

​

$

1,788,244

​

The following table lists 2020 Convertible notes and warrants and derivative warrant liabilities outstanding as at December 31, 2020:

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​

​

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Convertible notes – 2020 Convertible notes

    

$

2,616,202

Derivative liability – 2020 January warrants

​

 

11,347

Derivative liability – 2020 May warrants

​

 

(256,639)

Derivative liability – 2020 June warrants

​

 

(49,176)

Derivative liability – 2020 August warrants

​

 

(2,195,092)

Derivative liability – 2020 December warrants

​

 

1,184,291

Derivative liability – 2020 Repayment warrants

​

 

9,448

Derivative liability – 2020 Settlement warrants

​

 

201,673

Balance, 2020 Convertible notes and warrants and derivative liabilities December 31, 2020

​

$

1,522,054

​

​

​

​

Presented on the consolidated statements of financial position as:

​

 

  

2020 Convertible notes, warrants and derivative liabilities, current

​

$

37,525

2020 Convertible notes, warrants and derivative liabilities, non-current

​

$

1,484,529

​

​

16.    DERIVATIVE WARRANT LIABILITY FROM FINANCING AND CONVERTIBLE NOTES (continued)

(e)     Warrants and Convertible Notes Model (continued)

​

The carrying amounts for the 2021 derivative warrant liability from financing are as follows:

​

​

​

​

​

​

    

February 2021 Warrants

Inception of the February 2021 Warrants (see Note 18(e))

​

$

15,666,819

Deferred loss

​

 

(15,666,819)

Amortization of deferred loss

​

 

5,768,343

Fair value adjustment, unrealized gain

​

 

(15,261,310)

Balance, December 31, 2021

​

$

(9,492,967)

​

​

​

​

Number of warrants outstanding as of December 31, 2021

​

 

18,000,000

​

​

​

​

Presented on the consolidated statements of financial position as:

​

 

  

Deferred loss on 2021 derivative warrant liabilities

​

$

9,898,475

2021 Derivative warrant liabilities

​

$

405,508