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Capital Stock
6 Months Ended
Jun. 30, 2024
Equity [Abstract]  
Capital Stock [Text Block]

14. Capital Stock

As at June 30, 2024, the Company had 150,000,000 common shares authorized with a par value of $.0001 per share and 125,332,019 (December 31, 2023-125,272,975) common shares issued and outstanding.

On January 11, 2024, Travellers converted $101,130 (C$135,600) of outstanding accounts payable (2023-$278,845; C$372,483 in outstanding loans) owing to Travellers into 809,044 (2023-1,167,371) common shares of the Company at the closing trading price immediately prior to each conversion. There was no gain or loss on these conversions. On March 18, 2024, the Company submitted a cancellation order to its transfer agent to cancel 750,000 common shares issued in the prior year to a consultant. There was no gain or loss on this cancellation.

For the six-month period ended June 30, 2024, the Company issued nil (2023-1,650,709) common shares on the conversion of a convertible promissory note having a fair value of $nil (2023-$374,000) at conversion prices ranging from $nil to $nil (2023- $0.1294 to $0.3400) per share. This resulted in a loss on conversion of $nil (2023-$74,359) disclosed under note 16, other (expense) income.

For the six-month period ended June 30, 2024, the Company issued nil (2023-1,040,000) common shares for professional services valued at $nil (2023-$202,645), based on the closing trading prices on the effective dates of the consulting agreements disclosed as stock-based compensation in the interim condensed consolidated statements of operations and comprehensive loss. In addition, the Company raised $nil (2023-$101,039) on a private for nil (2023-310,888) common shares of the Company at an issue price of $nil (2023-$0.3250) per share from a director of the Company.

On January 3, 2023, the Company issued 3,000,000 common shares to the CEO and 100,000 common shares to the CFO in connection with their executive consulting agreements, valued at $446,400, based on the closing trading price on the effective date of their executive consulting agreements. Included under management stock-based compensation in the interim condensed consolidated statements of operations and comprehensive loss for the three and six-month periods ended June 30, 2024, is an amount of $54,000 and $108,000 (2023-$57,600 and $115,200) respectively. Also, during the three and six-month periods ended June 30, 2023, the Company issued nil and 500,000 common shares respectively, on proceeds previously received.

Furthermore, on January 3, 2023, the Company issued 20,000 common shares to an employee valued at $2,880 based on the closing trading price on the date of issuance. Also, 100,000 common shares were issued on March 1, 2023 to a new director appointed on February 18, 2023, valued at $21,000, based on the closing trading price on the date appointed. Both amounts were disclosed as stock-based compensation in the interim condensed consolidated statements of operations and comprehensive loss.

As at June 30, 2024, the Company recorded a balance of $nil (2023-$188,348) for nil (2023-750,000) shares to be issued relating to consulting agreements, of which 500,000 were issued on January 27, 2023, valued on the effective dates stipulated in the consulting agreements) for 250,000 shares to be issued relating to a consulting agreement with a service provider for professional services, valued on the effective dates stipulated in the consulting agreement and $128,248 for shares to be issued on a private placement priced at $0.2414 per share. These professional services are included under stock-based compensation in the interim condensed consolidated statements of operations and comprehensive loss.