XML 22 R12.htm IDEA: XBRL DOCUMENT v3.22.2
Shareholders' Deficiency
 6 Months Ended
Jun. 30, 2022
Stockholders' Equity Note [Abstract]  
SHAREHOLDERS’ DEFICIENCY
NOTE 5:- SHAREHOLDERS’ DEFICIENCY

 

  a. Warrants

 

A summary of warrant activity during the six months period ended June 30, 2022, and year ended December 31, 2021 is as follows:

 

   Number   Average
exercise
price		 
Warrants outstanding at January 1, 2021   213,083   $0.81 
Granted   99,000    0.15 
Exercised   
-
    
-
 
Forfeited/Cancelled   (66,000)   0.15 
Forfeited/Cancelled   (47,333)   1.94 
Warrants outstanding at December 31, 2021   198,750   $0.54 
Expired   (13,750)   2.00 
Exercised   
-
    
-
 
Forfeited/Cancelled   
-
    
-
 
Warrants outstanding at June 30, 2022   185,000    0.43 

 

The following warrants and are outstanding as of December 31, 2021:

 

Issuance date   Warrants
outstanding		     Exercise
price per
warrant		     Warrants
outstanding and
exercisable		     Expiry date
February 21, 2019     13,750     $ 20.00       13,750     February 21, 2022
October 15, 2019     44,000     $ 12.50       44,000     October 15, 2024
August 7, 2020     50,000     $ 2.00       50,000     August 7, 2025
August 11, 2020     25,000     $ 2.00       25,000     August 11, 2025
December 31, 2021     66,000     $ 1.50       66,000     December 31, 2022
      198,750               198,750      

 

The following warrants and are outstanding as of June 30, 2022:

 

Issuance date  Warrants
outstanding		   Exercise
price per
warrant		   Warrants
outstanding and
exercisable		   Expiry date
October 15, 2019   44,000   $12.50    44,000   October 15, 2024
August 7, 2020   50,000   $2.00    50,000   August 7, 2025
August 11, 2020   25,000   $2.00    25,000   August 11, 2025
December 31, 2021   66,000   $1.50    66,000   December 31, 2022
    185,000         185,000    

 

  b. Share option plans:

 

On April 1, 2019, the Company’s board of directors adopted the Seedo Corp. 2018 Share Options Plan (the “2018 Plan”).

 

Awards granted under the 2018 Plan are subject to vesting schedules and unless determined otherwise by the administrator of the 2018 Plan, generally vest following a period of four years from the applicable vesting commencement date, such that the awards vest in four annual equal installments and/or generally vest following a period of one year from the applicable vesting commencement date, such that the awards vest in four quarterly equal installments.

 

Subject to the discretion of the 2018 Plan administrator, if an award has not been exercised within seven years after the date of the grant, the award expires.

 

(i) A summary of employee share options activity during the six-month period ended June 30, 2022 and for the year ended December 31, 2021 is as follows:

 

   Number   Average
weighted
exercise
price		 
Options outstanding at January 1, 2021   166,000   $1.10 
Granted   120,000    0.01 
Exercised   (90,000)   1.10 
Forfeited   (1,000)   3.00 
Options outstanding at December 31, 2021   195,000   $0.63 
Granted   
-
    
-
 
Exercised   
-
    
-
 
Forfeited   
-
    
-
 
Options outstanding at June 30, 2022   195,000   $0.63 
           
Options exercisable at June 30, 2022   166,250   $0.72 

 

The following options are outstanding as of June 30, 2022:

 

Issuance date  Options
outstanding		   Exercise
price per
option		   Options
outstanding and
exercisable		   Expiry date
September 1, 2020   15,000   $0.70    8,750   September 1, 2025
October 13, 2020   50,000   $1.00    50,000   October 12, 2023
November 3, 2020   25,000   $1.00    25,000   October 25, 2025
November 3, 2020   25,000   $1.50    25,000   October 25, 2025
December 14, 2021   80,000   $0.01    57,500   December 14, 2026
    195,000         166,250    

 

  c. Restricted Share Units:

 

RSUs under the 2018 Plan may be granted upon such terms and conditions, no monetary payment (other than payments made for applicable taxes) shall be required as a condition of receiving the Company’s shares pursuant to a grant of RSUs, and unless determined otherwise by the Company, the aggregate nominal value of such RSUs shall not be paid and the Company shall capitalize applicable profits or take any other action to ensure that it meets any requirement of applicable laws regarding issuance of shares for consideration that is lower than the nominal value of such shares. If, however, the Company’s board of directors determines that the nominal value of the shares shall not be waived and shall be paid by the grantees, then it shall determine procedures for payment of such nominal value by the grantees or for collection of such amount from the grantees by the Company.

 

Shares issued pursuant to any RSUs units may (but need not) be made subject to exercise conditions, as shall be established by the Company and set forth in the applicable notice of grant evidencing such award. During any restriction period in which shares acquired pursuant to an award of RSUs remain subject to exercise conditions, such shares may not be sold, exchanged, transferred, pledged, assigned or otherwise disposed of unless otherwise provided in the 2018 Plan. Upon request by the Company, each grantee shall execute any agreement evidencing such transfer restrictions prior to the receipt of shares hereunder and the Company may place appropriate legends evidencing any such transfer restrictions on the relevant share certificates.

 

A summary of RSU activity during the six months ended June 30, 2022, and the year ended December 31, 2021 is as follows:

 

   Number 
RSU outstanding at January 1, 2021   49,025 
Granted   227,500 
Exercised   (80,525)
Forfeited   
-
 
RSU outstanding at December 31, 2021   196,000 
Granted   
-
 
Exercised   
-
 
Forfeited   
-
 
RSU’s outstanding at June 30, 2022   196,000