Subsequent Events

6 Months Ended

Jun. 30, 2022

Subsequent Events [Abstract]

Subsequent Events [Text Block]

18. Subsequent Events

The Company's management has evaluated subsequent events up to the date the interim condensed consolidated financial statements were issued, pursuant to the requirements of ASC 855 and has determined the following to be material subsequent events:

(a) On July 6, 2022, Alchemy Advisors LLC, provided the Company with a revised and amended consulting agreement for financial and business consulting services, extending the term of its first consulting agreement dated October 27, 2021 from April 27, 2022 to August 15, 2022 and shortening the term of its second consulting agreement dated March 3, 2022 from September 3, 2022 to August 15, 2022. In exchange Alchemy received 50,000 common share of the Company which were issued on July 11, 2022 valued at the closing trading price.

(b) On July 11, 2022, the Company issued 100,000 shares in total to the March 2022 Investors in compensation for the revisions to the March 2022 Investor Notes. 

(c) On July 13, 2022, the Company signed a settlement agreement and release for the services of a party for an underwritten offering dated March 23, 2022 and amended May 23, 2022. In exchange, the Company will make a payment in cash in the amount of $250,000, as a settlement payment within five business days of the closing date of the Company’s receipt of a cumulative aggregate of $2,000,000 or more of gross proceeds from the sale of any equity securities, equity-linked securities or debt securities completed after this date.

(d) On July 20, 2022, the Company signed a consulting contract with a consultant to provide general business advice and consulting for a period to December 31, 2022. As compensation, the Company issued 3,000,000 common shares on July 28, 2022, at the closing trading price on July 20, 2022.

(e) On August 16, 2022, the Company was informed of a notice of default from the investor of the October 29, 2021 Investor Note, the March 3, 2022 Investor Note and the March 7, 2022 Investor Note. The notice of default allows for a cure period of 5 trading days. The Company is in discussions with the investor to cure the notice of default.