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Capital Stock
9 Months Ended
Sep. 30, 2020
Equity [Abstract]  
Capital Stock [Text Block]

16. Capital Stock

As at September 30, 2020, the Company had 150,000,000 authorized common shares with a par value of $.0001 per share and 79,372,643 (December 31, 2019-51,784,504) issued and outstanding common shares. For the nine-month period ended September 30, 2020, the Company issued 27,118,109 common shares on the conversion of convertible promissory notes, in the amount of $160,897, including accrued interest and related costs of $20,160, for a total of $181,057.

The share conversion prices ranged from $0.0036 to $0.0176 per share.   On January 10, 2020, the CEO's remaining RSUs determined to be valued at $1,000,000 based on private placement pricing at the time of the granting of the RSUs were exchanged into 1,000,000 common shares of the Company. In addition, the Company cancelled the 529,970 shares previously held by BDO Canada Limited, whose shares were returned to the Company on April 1, 2020.

 

During the year ended December 31, 2019, the Company issued 9,289,973 common shares on the conversion of unsecured convertible promissory notes in the amount of $248,618 including accrued interest and related costs of $21,162, for a total of $269,780 at conversion prices ranging from $0.0176 to $0.0910 per share. The Company also issued 100,000 common shares for professional services determined to be valued at $53,000, 80,000 common shares to directors determined to be valued at $39,200 and 5,000 common shares to each of two employees determined to be valued at $400 in total, with amounts determined based on the closing trading price on the day immediately prior to issuance. Further, 5,000 common shares were issued for proceeds received prior to December 31, 2018 of $4,600, net of share issue costs of $400. In addition, on January 8, 2019, the Company issued 1,000,000 common shares on the exchange of the CEO's 2018 RSUs determined to be valued at $1,000,000, based on private placement pricing at the time of granting the RSUs and on April 2, 2019, the Company issued 1,000,000 common shares on the exchange of the former chief executive officer's 2018 RSUs determined to be valued at $330,000, based on private placement pricing at the time of granting the RSUs.