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Suite 1000 Washington 20005 202 572-3133 Common Shares, no par value BTQ NASDAQ true true 140400930 Yes Yes true false false false BTQ Technologies Corp. (the "Registrant") is filing this Amendment No. 1 to Form 40-F (the “Form 40-F/A”) for the year ended December 31, 2025 to (i) file Exhibit 97.1, which was previously adopted by the Registrant in accordance with applicable listing standards and regulatory requirements, however it was inadvertently omitted and (ii) furnish Exhibits 101 and 104 to the Form 40-F, which provides certain items from our Form 40-F formatted in eXtensible Business Reporting Language (“XBRL”). In accordance with the policy of the Securities and Exchange Commission (the “Commission”) stated in Release No. 33-9002, we are filing this Form 40-F/A within the 30-day period available to first-time XBRL filers following the filing of our Form 40-F for the year ended December 31, 2025, as filed with the Commission on March 31, 2026 (the “2025 Annual Report”). In addition, this Form 40-F/A also contains new certifications by the Registrant’s principal executive officer and principal financial officer, as required by Rule 13a-14(a) or Rule 15d-14(a) under the the U.S. Securities and Exchange Act of 1934 (the “Exchange Act”) and Rule 13a-14(b) or Rule 15d-14(b) under the Exchange Act, and the consent of MNP LLP the Registrant’s auditor, each of which are filed herewith as Exhibits 99.4, 99.5, 99.6, 99.7, and 99.8, respectively, to this Form 40-F/A. The Form 40-F/A consists of a cover page, this explanatory note, the signature page, the exhibit index, Exhibits 97.1, 99.4,99.5, 99.6, 99.7, 99.8, 101 and 104. No other changes have been made to the Form 40-F other than the furnishing of the exhibits described above, and no changes have been made to the financial statements previously filed as Exhibit 99.1 to the Registrant’s 2025 Annual Report. This Form 40-F/A does not reflect subsequent events occurring after the original date of the Form 40-F, or modify or update in any way disclosures made in the Form 40-F. <div style="font-size:10pt;font-family:Times New Roman"> <div> Opinion We have audited the consolidated financial statements of BTQ Technologies Corp. and its subsidiaries (the "Company"), which comprise the consolidated statements of financial position as at December 31, 2025 and 2024 and the consolidated statements of loss and other comprehensive loss, changes in shareholders' equity and cash flows for the years then ended, and notes to the consolidated financial statements, including a summary of material accounting policy information. In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, the consolidated financial position of the Company as at December 31, 2025 and 2024, and its financial performance and its cash flows for the years then ended in accordance with IFRS® Accounting Standards as issued by the International Accounting Standard Board. </div> </div> MNP LLP 1 Adelaide Street East, Suite 1900, Toronto ON, M5C 2V9 1930

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<div> 2. BASIS OF PRESENTATION Statement of Compliance The accompanying consolidated financial statements have been prepared in accordance with IFRS Accounting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB") on a going concern basis. Basis of Preparation These consolidated financial statements have been prepared on a historical cost basis except for certain financial assets and liabilities, which are measured at fair value, as specified by IFRS for each type of asset, liability, income, and expense as set out in the accounting policies below. Basis of Consolidation These consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, BTQ AG, a company incorporated in the Principality of Liechtenstein, BTQ Technologies Australia Pty Ltd., a company incorporated in Australia, and BTQ Technologies (USA) Ltd. a company incorporation in the State of Delaware, U.S. These consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany transactions and balances are eliminated on consolidation. Control exists where the parent entity has power over the investee and is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. Subsidiaries are included in the financial statements from the date control commences until the date control ceases. Functional Currency and Presentation Currency The functional currency of the Company and its subsidiaries is the Canadian dollar, which is also the presentation currency of these consolidated financial statements. <div></div> Use of Estimates and Judgments The preparation of these consolidated financial statements in conformity with IFRS requires the Company's management to make judgments, estimates, and assumptions that affect the application of accounting policies and reported amounts of assets, liabilities, revenues, and expenses. Estimates and underlying assumptions are reviewed on an ongoing basis, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates. Revisions to accounting estimates are recognized in the period in which the estimate is revised and in any future periods affected. Significant estimates and judgments exercised by management in applying the Company's accounting policies that have the most significant effect on the amounts recognized in the consolidated financial statements are as follows: Research and development costs Research costs are recognized as an expense when incurred but development costs may be capitalized as intangible assets if certain conditions are met as described in IAS 38 Intangible Assets. Management has determined that development costs do not meet the conditions for capitalization under IAS 38 and all research and development costs have been expensed. Fair values of stock options Fair values of stock options are determined using the Black-Scholes option pricing model. Estimating fair value requires determining the most appropriate valuation model for a grant of equity instruments, which is dependent on the terms and conditions of the grant. Option-pricing models require the use of highly subjective estimates and assumptions including the expected stock price volatility. Changes in the underlying assumptions can materially affect the fair value estimates and, therefore, existing models do not necessarily provide reliable measurement of the fair value of the Company's stock options and performance warrants. Deferred income taxes The determination of income tax expense and the composition of deferred income tax assets and liabilities involves judgment and estimates as to the future taxable earnings, expected timing of reversals of deferred income tax assets and liabilities, and interpretations of tax laws. The Company is subject to assessments by tax authorities who may interpret the tax law differently. Changes in these interpretations, judgments, and estimates may materially affect the final amount of current and deferred income tax provisions, deferred income tax assets and liabilities, and results of operations. Going concern presentation These consolidated financial statements have been prepared on a going concern basis, which assumes that the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The assessment of the Company's ability to source future operations and continue as a going concern involves judgement. Estimates and assumptions are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. If the going concern assumption is not appropriate for the financial statements, then adjustments would be necessary in the carrying value of the assets and liabilities, the reported revenue and the expenses and the statement of financial position classifications used. <div></div> Judgment of significant influence over an investment Where the Company holds less than 20% of voting rights in an investment, but the Company has the power to exercise significant influence, such an investment is treated as an associate. The determination of whether the Company has significant influence over an investee requires the application of significant judgment. In making this assessment, management considers all relevant facts and circumstances, including ownership interest, governance arrangements, contractual rights, and the Company's ability to participate in financial and operating policy decisions. Impairment of investment in associate The Company reviews and assesses the carrying amount of investment in associates for indicators of impairment when facts or circumstances suggest that the carrying amount is not recoverable. Determination of carrying amount is subject to estimates and assumptions about the underlying data. Changes to these estimates may affect value of investment and the impairment recognized. Impairment of non-current assets The Company evaluates the recoverability of non-current assets, including property and equipment, right of use assets, and definite life intangible assets, whether events or changes in circumstances indicate that the carrying value of the asset, or asset group, may not be recoverable. When the Company determines that the carrying value of the long-lived asset may not be recoverable based upon the existence of one or more of the indicators, the assets are assessed for impairment based on the estimate of future discounted. If the carrying value of an asset exceeds its estimated recoverable amount, an impairment loss is recorded for the excess of the asset's carrying value over its recoverable amount. Management judgment is required in the determination of indicators of impairment. Convertible debt Convertible debt are financial instruments which contain a separate financial liability and equity instrument. The identification of such components embedded within a convertible debt requires significant judgment given that it is based on the interpretation of the substance of the contractual arrangement. The individual fair values attributed to the different components of a financing transaction, and/or derivative financial instruments, are determined using valuation techniques. The Company uses judgment to select the methods used to make certain assumptions and in performing the fair value calculations in order to determine the values attributed to each component of a transaction at the time of their issuance. These valuation estimates could be significantly different because of the use of judgment and the inherent uncertainty in estimating the fair value of these instruments that are not quoted in an active market. </div>

<div> 3. MATERIAL ACCOUNTING POLICY INFORMATION <div> Cash and Cash Equivalents The Company considers all highly liquid instruments with a maturity of three months or less at the time of issuance, are readily convertible to known amounts of cash, and which are subject to insignificant risk of changes in value to be cash equivalents. </div> <div></div> <div> Property and Equipment The Company depreciates the cost of property and equipment over their estimated useful lives using the declining balance basis at the following rates: <div style="margin-left:72pt"> <table cellpadding="0" cellspacing="0" style="width:60%;border-collapse:collapse;font-size:10pt"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#e6efff">Computer equipment</td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#e6efff">55%</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt">Furniture and equipment</td> <td style="width:21%;vertical-align:bottom;text-align:justify">20%</td> </tr> </table> </div> Residual values and useful economic lives are reviewed at least annually, and adjusted if appropriate, at each reporting date. Subsequent expenditure relating to an item of property and equipment is capitalized when it is probable that future economic benefits from the use of the assets will be increased. All other subsequent expenditures are recognized as repairs and maintenance expenses during the period in which they are incurred. Gains and losses on disposal of equipment are determined by comparing the proceeds from disposal with the carrying amount of the asset and are recognized net within other income in the consolidated statement of operations and comprehensive loss. </div> <div> <div> <div> Impairment of Non-Current Assets At each reporting date, the Company reviews the carrying amounts of its tangible and intangible assets to determine whether there are any indications of impairment. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment, if any. Where the asset does not generate cash flows that are independent from other assets, the Company estimates the recoverable amount of the cash generating unit ("CGU") to which the asset belongs. The recoverable amount is determined as the higher of fair value less direct costs to sell and the asset's value in use. In assessing value in use, the estimated future cash flows are discounted to their present value. Estimated future cash flows are calculated using estimated recoverable reserves, estimated future commodity prices, and the expected future operating and capital costs. The pre-tax discount rate applied to the estimated future cash flows reflects current market assessments of the time value of money and the risks specific to the asset for which the future cash flow estimates have not been adjusted. If the carrying amount of an asset or CGU exceeds its recoverable amount, the carrying amount of the asset or CGU is reduced to its recoverable amount through an impairment charge to the consolidated statement of operations and comprehensive loss. Assets that have been impaired are tested for possible reversal of the impairment whenever events or changes in circumstance indicate that the impairment may have reversed. When an impairment subsequently reverses, the carrying amount of the asset or CGU is increased to the revised estimate of its recoverable amount, but only so that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation, depletion and amortization) had no impairment loss been recognized for the asset or CGU in prior periods. A reversal of impairment is recognized as a gain in the consolidated statement of operations and comprehensive loss. </div> </div> <div> Foreign Currency Translation The functional currency of the Company and its subsidiaries is the currency of the primary economic environment in which the entity operates. The Company's and its subsidiaries' functional currency is the Canadian dollar. Transactions denominated in currencies other than the functional currency are translated using the exchange rate in effect on the transaction date or at the annual average rate. Monetary assets and liabilities denominated in foreign currencies are retranslated at the rate of exchange in effect at the consolidated statements of financial position date. Non-monetary items are translated using the historical rate on the date of the transaction. Foreign exchange gains and losses are included in the consolidated statement of operations and comprehensive loss. </div> </div> <div> <div></div> </div> <div> Financial Instruments Financial assets and financial liabilities are recognized when the Company becomes a party to the contractual provisions of the respective instrument. Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are included in the initial carrying value of the related instrument and are amortized using the effective interest method. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognized immediately in the consolidated statement of operations and comprehensive loss. Fair value estimates are made at the statement of financial position date based on relevant market information and information about the financial instrument. All financial instruments are classified into either: fair value through profit or loss (“FVTPL”) or amortized cost. The Company has made the following classifications: <div style="margin-left:32pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:60%;border-collapse:collapse;font-size:10pt"> <tr> <td style="width:50%;background-color:#e6efff">Cash</td> <td style="width:50%;background-color:#e6efff">Amortized cost</td> </tr> <tr> <td style="width:50%">Short-term investments</td> <td style="width:50%">Amortized cost</td> </tr> <tr> <td style="width:50%;background-color:#e6efff">Other receivables (excluding GST)</td> <td style="width:50%;background-color:#e6efff">Amortized cost</td> </tr> <tr> <td style="width:50%">Deposits</td> <td style="width:50%">FVTPL</td> </tr> <tr> <td style="width:50%;background-color:#e6efff">Investments</td> <td style="width:50%;background-color:#e6efff">FVTPL</td> </tr> <tr> <td style="width:50%">Accounts payable and accrued liabilities</td> <td style="width:50%">Amortized cost</td> </tr> <tr> <td style="width:50%;background-color:#e6efff">Due to related parties</td> <td style="width:50%;background-color:#e6efff">Amortized cost</td> </tr> </table> </div> Financial assets IFRS 9 – Financial Instruments (“IFRS 9”) establishes three primary measurement categories for financial assets: amortized cost, fair value through other comprehensive income (“FVOCI”) and fair value through profit or loss (“FVTPL”). The Company determines the classification of the financial assets at initial recognition. The basis of classification depends on the Company’s business model for managing its financial instruments and the contractual cash flow characteristics of the instrument. A financial asset (unless it is a trade receivable without a significant financing component that is initially measured at the transaction price) is initially measured at fair value plus, for an item not at FVTPL, transaction costs that are directly attributable to its acquisition. Subsequent to initial recognition, financial assets are measured at amortized cost using the effective interest method, less any impairment. Financial assets at amortized cost Financial assets are measured at amortized cost if they are not designated at FVTPL, and the following conditions are met: <ul style="text-align:justify"> <li style="margin-left:12pt">are non-derivative financial assets which are held within a business model whose objective is to hold assets to collect contractual cash flows and selling financial assets; and,</li> <li style="margin-left:12pt">the contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.</li> </ul> Financial assets at FVTOCI Financial assets are measured at fair value through other comprehensive income only if they not designated at FVTPL, and the following conditions are met: <ul> <li style="text-align:justify;margin-left:12pt">it has been held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets; and,</li> <li style="text-align:justify;margin-left:12pt">the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.</li> </ul> </div> <div></div> <div> <div> Interest income is calculated using the effective interest method and gains or losses arising from impairment and foreign exchange are recognized in the consolidated statement of operations and comprehensive loss. All other changes in the carrying amount of financial assets are recognized in other comprehensive income. Upon derecognition, the cumulative gain or loss previously recognized in other comprehensive income is reclassified to the consolidated statement of operations and comprehensive loss. The Company does not hold any financial assets measured at fair value through other comprehensive income. Financial assets at FVTPL Assets that do not meet the criteria to be measured at amortized cost, or fair value through other comprehensive income, are measured at fair value through profit or loss. All interest income and changes in the financial assets’ carrying amount are recognized in the consolidated statement of operations and comprehensive loss. Impairment of financial assets Financial assets, other than those classified as FVTPL, are assessed for indicators of impairment at the end of each reporting period. Financial assets are considered to be impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows of the investment have been decreased. The carrying amount of the financial asset is reduced by the impairment loss directly for all financial assets with the exception of trade receivables, where the carrying amount is reduced through the use of an allowance account. When a trade receivable is considered uncollectible, it is written off against the allowance account. Subsequent recoveries of amounts previously written off are offset against the allowance account. Changes in the carrying amount of the allowance account are recognized in the consolidated statement of operations and comprehensive loss. Loss allowances are based on the lifetime expected credit losses that result from all possible default events over the expected life of the trade receivable, using the simplified approach. For financial assets measured at amortized cost, if, in a subsequent period, the amount of the impairment loss decreases and the decrease can be related objectively to an event occurring after the impairment was recognized, the previously recognized impairment loss is reversed through the consolidated statement of operations and comprehensive loss to the extent that the carrying amount of the investment at the date the impairment is reversed does not exceed what the amortized cost would have been had the impairment not been recognized. Financial liabilities and equity instruments Classification as debt or equity Debt and equity instruments issued by the Company are classified as either financial liabilities or as equity in accordance with the substance of the contractual arrangements and the definitions of a financial liability and an equity instrument. Equity instruments An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting all of its liabilities. Equity instruments issued by the Company are recognized as the proceeds received, net of direct issue costs. </div> </div> <div></div> <div> <div> Other financial liabilities Other financial liabilities (including loans and borrowings and trade payables and other liabilities) are initially measured at fair value, net of transaction costs. Subsequently, other financial liabilities are measured at amortized cost using the effective interest method. The effective interest method is a method of calculating the amortized cost of a financial liability and of allocating interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments (including all fees and points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) through the expected life of the financial liability, or (where appropriate) a shorter period, to the net carrying amount on initial recognition. </div> </div> <div> Revenue Recognition The Company's accounting policy for revenue recognition under IFRS 15, Revenue from Contracts with Customers, follows a five-step model to determine the amount and timing of revenue to be recognized: 1. Identifying the contract with a customer; 2. Identifying the performance obligations within the contract; 3. Determining the transaction price; 4. Allocating the transaction price to the performance obligations; and 5. Recognizing revenue when/as performance obligation(s) are satisfied. Revenue is recognized when or as the associated performance obligations are delivered and based on the expected consideration to be received. The Company generates revenues from licensing the right to use the Company's intellectual property. The fees that are outlined in an agreement are recognized when the Company's obligations have been performed. For licenses with multiple performance obligations, the Company will identify specific distinct goods and services and will recognize revenue when the performance obligations for each distinct good or service has been performed. The Company also analyzes its collaboration arrangements to determine whether such arrangements involve joint operating activities performed by parties that are both active participants in the activities and exposed to significant risks and rewards dependent on the commercial success of such activities. This assessment is performed throughout the life of the arrangement based on changes in the responsibilities of all parties in the arrangement. The Company assesses whether there are any elements of the collaboration that are more reflective of a vendor-customer relationship and is therefore within the scope of IFRS 15. For these elements of the arrangement that are accounted for pursuant to IFRS 15, the Company applies the five-step model above. The collaboration arrangements entered into during the years ended December 31, 2025 and 2024 did not meet the scope of IFRS 15. Refer to Note 19. IFRS 11 characterizes a joint arrangement as parties that are bound by a contractual arrangement, and that the contractual arrangement gives two or more of those parties joint control over the arrangement. The Company assessed all of the collaboration agreements entered into during the years ended December 31, 2025 and 2024, and determined that none of the collaboration agreements met the characteristics of a joint arrangement due to the absence of joint control. </div> <div></div> <div> Research and Development Costs Expenditure on research activities, undertaken with the prospect of gaining new scientific or technical knowledge and understanding, is recognized in the consolidated statement of operations and comprehensive loss as incurred. Development activities involve a plan or design for the production of new or substantially improved products or processes. Development expenditure is capitalized only if development costs can be measured reliably, the product or process is technically and commercially feasible, future economic benefits are probable, and the Company intends to and has sufficient resources to complete development and to use or sell the asset. The expenditure capitalized includes the cost of materials, direct labour, overhead costs that are directly attributable to preparing the asset for its intended use, and borrowing costs on qualifying assets. Other development expenditures are recognized in the consolidated statements of operations and comprehensive loss as incurred. </div> <div> Share-based Compensation The grant date fair value of equity-based payment awards granted to employees is generally recognized as share-based compensation expense, with a corresponding increase in equity, over the vesting period of the awards. The amount recognized as an expense is adjusted to reflect the number of awards for which the related service and non-market vesting conditions are expected to be met, such that the amount ultimately recognized as an expense is based on the number of awards that meet the related service and non-market performance conditions at the vesting date. For share-based payment awards with non-vesting conditions, the grant date fair value is measured to reflect such conditions and there is no true-up for differences between expected and actual outcomes. Equity-settled share-based payment transactions with parties other than employees are measured at the fair value of the goods or services received, except where that fair value cannot be estimated reliably, in which case they are measured at the fair value of the equity instruments granted, measured at the date the entity obtains the goods or the counterparty renders the service. The fair value of stock options is measured at the grant date using the Black-Scholes option pricing model. The fair value is recognized as an expense over the vesting period, which is the period over which all of the specified vesting conditions are satisfied with a corresponding increase in equity. For awards with graded vesting, the fair value of each tranche is recognized over its respective vesting period. Non-market vesting conditions are considered in making assumptions about the number of awards that are expected to vest. When the options are exercised, any proceeds received are credited to share capital along with the amount reflected in share-based payment reserve. </div> <div> Convertible Debentures Convertible debentures are financial instruments which in accordance to IAS 32 contain a separate financial liability and equity instrument or derivative liability. These financial instruments are accounted for separately dependent on the nature of their components. The identification of such components embedded within a convertible debenture requires significant judgment given that it is based on the interpretation of the substance of the contractual arrangement. The debt component is measured at fair value on the initial recognition using a market interest rate and the residual value assigned to the equity conversion feature. Subsequent to initial recognition, the equity conversion feature is not re-measured while the debt components are accreted to the face value of the convertible debenture using the effective interest rate through periodic charges to finance expense over the term of the convertible debenture. When the convertible debenture converted to shares under original terms of the convertible debenture, the carrying amount of the debt component is derecognized and recorded as share capital in the consolidated statement of changes in shareholders’ equity. </div> <div></div> <div> Investment in Associate An associate is an entity over which the Company has significant influence. Significant influence is the power to participate in the financial and operating policy decisions of the investee, but is not control or joint control over those policies. The considerations made in determining significant influence or joint control are similar to those necessary to determine control over subsidiaries. The Company’s investment in its associate is accounted for using the equity method. Under the equity method, the investment in an associate is initially recognized at cost. The carrying amount of the investment is adjusted to recognize changes in the Company’s share of net assets of the associate or joint venture since the acquisition date. Goodwill relating to the associate or joint venture is included in the carrying amount of the investment and is not tested for impairment separately. The consolidated statement of operations and comprehensive loss reflects the Company’s share of the results of operations of the associate. Any change in other comprehensive income of those investees is presented as part of the Company’s other comprehensive income. In addition, when there has been a change recognized directly in the equity of the associate, the Company recognizes its share of any changes, when applicable, in the consolidated statement of changes in shareholders’ equity. Unrealized gains and losses resulting from transactions between the Company and the associate are eliminated to the extent of the interest in the associate. The aggregate of the Company’s share of operating results of an associate is shown on the face of the consolidated statement of operations and comprehensive loss and represents net income or loss after tax and non-controlling interests in the subsidiaries of the associate. The consolidated financial statements of the associate are prepared for the same reporting period as the Company. When necessary, adjustments are made to bring the accounting policies in line with those of the Company. The Company’s share of an associate’s losses that are in excess of its investment in the associate are recognized only to the extent that the Company has incurred legal or constructive obligations or made payments on behalf of the associate. After application of the equity method, the Company determines whether it is necessary to recognize an impairment loss on its investment in its associate. At each reporting date, the Company determines whether there is objective evidence that the investment in the associate is impaired. If there is such evidence, the Company calculates the amount of impairment as the difference between the recoverable amount of the associate and its carrying value, and then recognizes the loss in the consolidated statement of operations and comprehensive loss. Upon loss of significant influence over the associate, the Company measures and recognizes any retained investment at its fair value. Any difference between the carrying amount of the associate upon loss of significant influence and the fair value of the retained investment and proceeds from disposal is recognized in the consolidated statement of operations and comprehensive loss. </div> <div> Related Party Transactions Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Parties are also considered to be related if they are subject to common control or common significant influence. Related parties may be individuals or corporate entities. A transaction is considered to be a related party transaction when there is a transfer of resources or obligations between related parties. </div> <div> Loss Per Share Basic loss per common share is computed by dividing net loss by the weighted average number of common shares outstanding during the period. The computation of diluted loss per share assumes the conversion, exercise or contingent issuance of securities only when such conversion, exercise or issuance would have a dilutive effect on the income per share. The dilutive effect of convertible securities is reflected in the diluted loss per share by application of the "if converted" method. When a loss is incurred during the period, basic and diluted loss per share are the same as the exercise of stock options, share purchase warrants, and restricted share units is considered to be anti-dilutive. As at December 31, 2025, the Company has 7,020,223 (2024 - 6,886,616) potentially dilutive shares outstanding. </div> <div></div> <div> Income Taxes Tax expense recognized in the consolidated statements of operations and comprehensive loss comprises the sum of current and deferred income taxes not recognized in other comprehensive income or directly in equity. i) Current income tax Current income tax assets and liabilities for the current period are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the reporting date, in the countries where the Company operates and generates taxable income. ii) Deferred income tax Deferred income tax is recognized using the liability method on temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. However, the deferred income tax is not recognized if it arises from initial recognition of an asset or liability in a transaction other than a business combination that at the time of the transaction affects neither accounting nor taxable income or loss and that at the time of the transaction, does not give rise to equal taxable and deductible temporary differences. Deferred income tax is determined using tax rates (and laws) that have been enacted or substantively enacted by the reporting date and are expected to apply when the related deferred income tax asset is realized, or the deferred income tax liability is settled. A deferred income tax asset is recognized to the extent that it is probable that future taxable income will be available against which the temporary difference can be utilized. Deferred income tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized. Changes in deferred income tax assets or liabilities are recognized as a component of tax income or expense in the consolidated statement of operations and comprehensive loss except where they related to items that are recognized in other comprehensive income or directly in equity, in which case, related deferred tax is also recognized in other comprehensive income or equity, respectively. Deferred income tax assets and liabilities have been offset where they relate to income taxes levied by the same taxation authority and the Company has the legal right and intent to offset. </div> <div> Recent Accounting Pronouncements A number of new standards, and amendments to standards and interpretations, are not yet effective for the year ended December 31, 2025, and have not been early adopted in preparing these consolidated financial statements. IFRS 18 Presentation and Disclosure in Financial Statements In April 2024, the IASB issued IFRS 18 – Presentation and Disclosure in Financial Statements which will replace IAS 1, Presentation of Financial Statements. The key new concepts introduced in IFRS 18 relate to the structure of the consolidated statement of earnings (loss), required disclosures in the consolidated financial statements for certain earnings or loss performance measures that are reported outside an entity’s consolidated financial statements and enhanced principles on aggregation and disaggregation which apply to the primary consolidated financial statements and notes in general. IFRS 18 will apply for reporting periods beginning on or after January 1, 2027, and also applies to comparative information. The Company is still in the process of assessing the impact of this standard on its consolidated financial statements. </div> <div></div> <div> <div> Amendments to the Classification and Measurement of Financial Instruments (“Amendments to IFRS 9 and IFRS 7”) In May 2024, the IASB issued Amendments to IFRS 9 and IFRS 7 which clarify the date of recognition and derecognition of some financial assets and liabilities with a new exception for some financial liabilities settled through an electronic cash transfer system, clarify and add further guidance for assessing whether a financial asset meets the solely payments of principal and interest criterion, add new disclosures for certain instruments with contractual terms that can change cash flows such as instruments with features linked to the achievement of environment, social and governance targets; and update the disclosures for equity instruments designated at FVOCI. Amendments to IFRS 9 and IFRS 7 is effective for periods beginning on or after January 1, 2026, with early adoption permitted. The Company is still in the process of assessing the impact of this standard on its consolidated financial statements. </div> </div> </div>

<table cellpadding="0" cellspacing="0" style="width:60%;border-collapse:collapse;font-size:10pt"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#e6efff">Computer equipment</td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#e6efff">55%</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt">Furniture and equipment</td> <td style="width:21%;vertical-align:bottom;text-align:justify">20%</td> </tr> </table>

0.55

0.20

<div> Impairment of Non-Current Assets At each reporting date, the Company reviews the carrying amounts of its tangible and intangible assets to determine whether there are any indications of impairment. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment, if any. Where the asset does not generate cash flows that are independent from other assets, the Company estimates the recoverable amount of the cash generating unit ("CGU") to which the asset belongs. The recoverable amount is determined as the higher of fair value less direct costs to sell and the asset's value in use. In assessing value in use, the estimated future cash flows are discounted to their present value. Estimated future cash flows are calculated using estimated recoverable reserves, estimated future commodity prices, and the expected future operating and capital costs. The pre-tax discount rate applied to the estimated future cash flows reflects current market assessments of the time value of money and the risks specific to the asset for which the future cash flow estimates have not been adjusted. If the carrying amount of an asset or CGU exceeds its recoverable amount, the carrying amount of the asset or CGU is reduced to its recoverable amount through an impairment charge to the consolidated statement of operations and comprehensive loss. Assets that have been impaired are tested for possible reversal of the impairment whenever events or changes in circumstance indicate that the impairment may have reversed. When an impairment subsequently reverses, the carrying amount of the asset or CGU is increased to the revised estimate of its recoverable amount, but only so that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation, depletion and amortization) had no impairment loss been recognized for the asset or CGU in prior periods. A reversal of impairment is recognized as a gain in the consolidated statement of operations and comprehensive loss. </div>

<div> Financial Instruments Financial assets and financial liabilities are recognized when the Company becomes a party to the contractual provisions of the respective instrument. Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are included in the initial carrying value of the related instrument and are amortized using the effective interest method. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognized immediately in the consolidated statement of operations and comprehensive loss. Fair value estimates are made at the statement of financial position date based on relevant market information and information about the financial instrument. All financial instruments are classified into either: fair value through profit or loss (“FVTPL”) or amortized cost. The Company has made the following classifications: <div style="margin-left:32pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:60%;border-collapse:collapse;font-size:10pt"> <tr> <td style="width:50%;background-color:#e6efff">Cash</td> <td style="width:50%;background-color:#e6efff">Amortized cost</td> </tr> <tr> <td style="width:50%">Short-term investments</td> <td style="width:50%">Amortized cost</td> </tr> <tr> <td style="width:50%;background-color:#e6efff">Other receivables (excluding GST)</td> <td style="width:50%;background-color:#e6efff">Amortized cost</td> </tr> <tr> <td style="width:50%">Deposits</td> <td style="width:50%">FVTPL</td> </tr> <tr> <td style="width:50%;background-color:#e6efff">Investments</td> <td style="width:50%;background-color:#e6efff">FVTPL</td> </tr> <tr> <td style="width:50%">Accounts payable and accrued liabilities</td> <td style="width:50%">Amortized cost</td> </tr> <tr> <td style="width:50%;background-color:#e6efff">Due to related parties</td> <td style="width:50%;background-color:#e6efff">Amortized cost</td> </tr> </table> </div> Financial assets IFRS 9 – Financial Instruments (“IFRS 9”) establishes three primary measurement categories for financial assets: amortized cost, fair value through other comprehensive income (“FVOCI”) and fair value through profit or loss (“FVTPL”). The Company determines the classification of the financial assets at initial recognition. The basis of classification depends on the Company’s business model for managing its financial instruments and the contractual cash flow characteristics of the instrument. A financial asset (unless it is a trade receivable without a significant financing component that is initially measured at the transaction price) is initially measured at fair value plus, for an item not at FVTPL, transaction costs that are directly attributable to its acquisition. Subsequent to initial recognition, financial assets are measured at amortized cost using the effective interest method, less any impairment. Financial assets at amortized cost Financial assets are measured at amortized cost if they are not designated at FVTPL, and the following conditions are met: <ul style="text-align:justify"> <li style="margin-left:12pt">are non-derivative financial assets which are held within a business model whose objective is to hold assets to collect contractual cash flows and selling financial assets; and,</li> <li style="margin-left:12pt">the contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.</li> </ul> Financial assets at FVTOCI Financial assets are measured at fair value through other comprehensive income only if they not designated at FVTPL, and the following conditions are met: <ul> <li style="text-align:justify;margin-left:12pt">it has been held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets; and,</li> <li style="text-align:justify;margin-left:12pt">the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.</li> </ul> </div> <div> Interest income is calculated using the effective interest method and gains or losses arising from impairment and foreign exchange are recognized in the consolidated statement of operations and comprehensive loss. All other changes in the carrying amount of financial assets are recognized in other comprehensive income. Upon derecognition, the cumulative gain or loss previously recognized in other comprehensive income is reclassified to the consolidated statement of operations and comprehensive loss. The Company does not hold any financial assets measured at fair value through other comprehensive income. Financial assets at FVTPL Assets that do not meet the criteria to be measured at amortized cost, or fair value through other comprehensive income, are measured at fair value through profit or loss. All interest income and changes in the financial assets’ carrying amount are recognized in the consolidated statement of operations and comprehensive loss. Impairment of financial assets Financial assets, other than those classified as FVTPL, are assessed for indicators of impairment at the end of each reporting period. Financial assets are considered to be impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows of the investment have been decreased. The carrying amount of the financial asset is reduced by the impairment loss directly for all financial assets with the exception of trade receivables, where the carrying amount is reduced through the use of an allowance account. When a trade receivable is considered uncollectible, it is written off against the allowance account. Subsequent recoveries of amounts previously written off are offset against the allowance account. Changes in the carrying amount of the allowance account are recognized in the consolidated statement of operations and comprehensive loss. Loss allowances are based on the lifetime expected credit losses that result from all possible default events over the expected life of the trade receivable, using the simplified approach. For financial assets measured at amortized cost, if, in a subsequent period, the amount of the impairment loss decreases and the decrease can be related objectively to an event occurring after the impairment was recognized, the previously recognized impairment loss is reversed through the consolidated statement of operations and comprehensive loss to the extent that the carrying amount of the investment at the date the impairment is reversed does not exceed what the amortized cost would have been had the impairment not been recognized. Financial liabilities and equity instruments Classification as debt or equity Debt and equity instruments issued by the Company are classified as either financial liabilities or as equity in accordance with the substance of the contractual arrangements and the definitions of a financial liability and an equity instrument. Equity instruments An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting all of its liabilities. Equity instruments issued by the Company are recognized as the proceeds received, net of direct issue costs. </div> <div> Other financial liabilities Other financial liabilities (including loans and borrowings and trade payables and other liabilities) are initially measured at fair value, net of transaction costs. Subsequently, other financial liabilities are measured at amortized cost using the effective interest method. The effective interest method is a method of calculating the amortized cost of a financial liability and of allocating interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments (including all fees and points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) through the expected life of the financial liability, or (where appropriate) a shorter period, to the net carrying amount on initial recognition. </div>

<div> Revenue Recognition The Company's accounting policy for revenue recognition under IFRS 15, Revenue from Contracts with Customers, follows a five-step model to determine the amount and timing of revenue to be recognized: 1. Identifying the contract with a customer; 2. Identifying the performance obligations within the contract; 3. Determining the transaction price; 4. Allocating the transaction price to the performance obligations; and 5. Recognizing revenue when/as performance obligation(s) are satisfied. Revenue is recognized when or as the associated performance obligations are delivered and based on the expected consideration to be received. The Company generates revenues from licensing the right to use the Company's intellectual property. The fees that are outlined in an agreement are recognized when the Company's obligations have been performed. For licenses with multiple performance obligations, the Company will identify specific distinct goods and services and will recognize revenue when the performance obligations for each distinct good or service has been performed. The Company also analyzes its collaboration arrangements to determine whether such arrangements involve joint operating activities performed by parties that are both active participants in the activities and exposed to significant risks and rewards dependent on the commercial success of such activities. This assessment is performed throughout the life of the arrangement based on changes in the responsibilities of all parties in the arrangement. The Company assesses whether there are any elements of the collaboration that are more reflective of a vendor-customer relationship and is therefore within the scope of IFRS 15. For these elements of the arrangement that are accounted for pursuant to IFRS 15, the Company applies the five-step model above. The collaboration arrangements entered into during the years ended December 31, 2025 and 2024 did not meet the scope of IFRS 15. Refer to Note 19. IFRS 11 characterizes a joint arrangement as parties that are bound by a contractual arrangement, and that the contractual arrangement gives two or more of those parties joint control over the arrangement. The Company assessed all of the collaboration agreements entered into during the years ended December 31, 2025 and 2024, and determined that none of the collaboration agreements met the characteristics of a joint arrangement due to the absence of joint control. </div>

<div> Share-based Compensation The grant date fair value of equity-based payment awards granted to employees is generally recognized as share-based compensation expense, with a corresponding increase in equity, over the vesting period of the awards. The amount recognized as an expense is adjusted to reflect the number of awards for which the related service and non-market vesting conditions are expected to be met, such that the amount ultimately recognized as an expense is based on the number of awards that meet the related service and non-market performance conditions at the vesting date. For share-based payment awards with non-vesting conditions, the grant date fair value is measured to reflect such conditions and there is no true-up for differences between expected and actual outcomes. Equity-settled share-based payment transactions with parties other than employees are measured at the fair value of the goods or services received, except where that fair value cannot be estimated reliably, in which case they are measured at the fair value of the equity instruments granted, measured at the date the entity obtains the goods or the counterparty renders the service. The fair value of stock options is measured at the grant date using the Black-Scholes option pricing model. The fair value is recognized as an expense over the vesting period, which is the period over which all of the specified vesting conditions are satisfied with a corresponding increase in equity. For awards with graded vesting, the fair value of each tranche is recognized over its respective vesting period. Non-market vesting conditions are considered in making assumptions about the number of awards that are expected to vest. When the options are exercised, any proceeds received are credited to share capital along with the amount reflected in share-based payment reserve. </div>

<div> Investment in Associate An associate is an entity over which the Company has significant influence. Significant influence is the power to participate in the financial and operating policy decisions of the investee, but is not control or joint control over those policies. The considerations made in determining significant influence or joint control are similar to those necessary to determine control over subsidiaries. The Company’s investment in its associate is accounted for using the equity method. Under the equity method, the investment in an associate is initially recognized at cost. The carrying amount of the investment is adjusted to recognize changes in the Company’s share of net assets of the associate or joint venture since the acquisition date. Goodwill relating to the associate or joint venture is included in the carrying amount of the investment and is not tested for impairment separately. The consolidated statement of operations and comprehensive loss reflects the Company’s share of the results of operations of the associate. Any change in other comprehensive income of those investees is presented as part of the Company’s other comprehensive income. In addition, when there has been a change recognized directly in the equity of the associate, the Company recognizes its share of any changes, when applicable, in the consolidated statement of changes in shareholders’ equity. Unrealized gains and losses resulting from transactions between the Company and the associate are eliminated to the extent of the interest in the associate. The aggregate of the Company’s share of operating results of an associate is shown on the face of the consolidated statement of operations and comprehensive loss and represents net income or loss after tax and non-controlling interests in the subsidiaries of the associate. The consolidated financial statements of the associate are prepared for the same reporting period as the Company. When necessary, adjustments are made to bring the accounting policies in line with those of the Company. The Company’s share of an associate’s losses that are in excess of its investment in the associate are recognized only to the extent that the Company has incurred legal or constructive obligations or made payments on behalf of the associate. After application of the equity method, the Company determines whether it is necessary to recognize an impairment loss on its investment in its associate. At each reporting date, the Company determines whether there is objective evidence that the investment in the associate is impaired. If there is such evidence, the Company calculates the amount of impairment as the difference between the recoverable amount of the associate and its carrying value, and then recognizes the loss in the consolidated statement of operations and comprehensive loss. Upon loss of significant influence over the associate, the Company measures and recognizes any retained investment at its fair value. Any difference between the carrying amount of the associate upon loss of significant influence and the fair value of the retained investment and proceeds from disposal is recognized in the consolidated statement of operations and comprehensive loss. </div>

7020223

6886616

<div> Income Taxes Tax expense recognized in the consolidated statements of operations and comprehensive loss comprises the sum of current and deferred income taxes not recognized in other comprehensive income or directly in equity. i) Current income tax Current income tax assets and liabilities for the current period are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the reporting date, in the countries where the Company operates and generates taxable income. ii) Deferred income tax Deferred income tax is recognized using the liability method on temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. However, the deferred income tax is not recognized if it arises from initial recognition of an asset or liability in a transaction other than a business combination that at the time of the transaction affects neither accounting nor taxable income or loss and that at the time of the transaction, does not give rise to equal taxable and deductible temporary differences. Deferred income tax is determined using tax rates (and laws) that have been enacted or substantively enacted by the reporting date and are expected to apply when the related deferred income tax asset is realized, or the deferred income tax liability is settled. A deferred income tax asset is recognized to the extent that it is probable that future taxable income will be available against which the temporary difference can be utilized. Deferred income tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized. Changes in deferred income tax assets or liabilities are recognized as a component of tax income or expense in the consolidated statement of operations and comprehensive loss except where they related to items that are recognized in other comprehensive income or directly in equity, in which case, related deferred tax is also recognized in other comprehensive income or equity, respectively. Deferred income tax assets and liabilities have been offset where they relate to income taxes levied by the same taxation authority and the Company has the legal right and intent to offset. </div>

<div> Recent Accounting Pronouncements A number of new standards, and amendments to standards and interpretations, are not yet effective for the year ended December 31, 2025, and have not been early adopted in preparing these consolidated financial statements. IFRS 18 Presentation and Disclosure in Financial Statements In April 2024, the IASB issued IFRS 18 – Presentation and Disclosure in Financial Statements which will replace IAS 1, Presentation of Financial Statements. The key new concepts introduced in IFRS 18 relate to the structure of the consolidated statement of earnings (loss), required disclosures in the consolidated financial statements for certain earnings or loss performance measures that are reported outside an entity’s consolidated financial statements and enhanced principles on aggregation and disaggregation which apply to the primary consolidated financial statements and notes in general. IFRS 18 will apply for reporting periods beginning on or after January 1, 2027, and also applies to comparative information. The Company is still in the process of assessing the impact of this standard on its consolidated financial statements. </div> <div> Amendments to the Classification and Measurement of Financial Instruments (“Amendments to IFRS 9 and IFRS 7”) In May 2024, the IASB issued Amendments to IFRS 9 and IFRS 7 which clarify the date of recognition and derecognition of some financial assets and liabilities with a new exception for some financial liabilities settled through an electronic cash transfer system, clarify and add further guidance for assessing whether a financial asset meets the solely payments of principal and interest criterion, add new disclosures for certain instruments with contractual terms that can change cash flows such as instruments with features linked to the achievement of environment, social and governance targets; and update the disclosures for equity instruments designated at FVOCI. Amendments to IFRS 9 and IFRS 7 is effective for periods beginning on or after January 1, 2026, with early adoption permitted. The Company is still in the process of assessing the impact of this standard on its consolidated financial statements. </div>

<div> <div style="margin-left:18pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;background-color:rgb(230, 239, 255)">Balance, December 31, 2023 and 2024</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">77,229</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"> </td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:12.6pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Additions</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">7,737,627</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:12.6pt;vertical-align:bottom;text-align:justify">Unrealized gain</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">322,087</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:justify">Balance, December 31, 2025</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%">8,136,943</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> </tr> </table> </div> </div>

77229

7737627

322087

8136943

63915

50000

13314

10000

960821

1000320000

452058

6776806

7098893

322087

217865

3263521

2000000

0.1529

<div> <div style="margin-left:18pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;background-color:rgb(230, 239, 255)">Balance, December 31, 2023 and 2024</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"> </td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:12.15pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Addition</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">3,263,521</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:12.15pt;vertical-align:bottom;text-align:justify">Share of net loss</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">(48,859</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:12.15pt;vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:justify">Balance, December 31, 2025</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%">3,214,662</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> </tr> </table> </div> </div>

3263521

-48859

3214662

275782

1000000 0.4 694445 0.20 305555 305555 37905 500000 0.4 378072 0.15 121928 121928 6768

1581250

658750

604231 40437 16175 12794 1390000 5356050 5555555 7.2

39999996

3039851

138888

12.6

1357406

1.95

0.0306

560000

224000

209662 134105 53641 38796 840000 496500 3355704 2.98

10000000

860833

167785

4.09

470286

2.06

0.0311

3750000 1117189 427483 45250000 25% of such escrowed securities were released upon closing (February 17, 2023) with subsequent 25% releases occurring 6, 12, and 18 months from closing. <div style="margin-left:18pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt"> <tr> <td style="width:57%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap"> Date of automatic timed release </td> <td style="width:37%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap"> Amount of escrow shares released </td> </tr> <tr> <td style="width:57%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-top:0.75pt solid #000000"> </td> <td style="width:37%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-top:0.75pt solid #000000"> </td> </tr> <tr> <td style="width:57%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;background-color:#e6efff"> On the date that the Company's common shares were listed on the NEO, February 17, 2023 </td> <td style="width:37%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;background-color:#e6efff"> 1/4 of the escrowed shares </td> </tr> <tr> <td style="width:57%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom"> 6 months after the listing date (August 17, 2023) </td> <td style="width:37%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom"> 1/4 of the escrowed shares </td> </tr> <tr> <td style="width:57%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;background-color:#e6efff"> 12 months after the listing date (February 17, 2024) </td> <td style="width:37%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;background-color:#e6efff"> 1/4 of the escrowed shares </td> </tr> <tr> <td style="width:57%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom"> 18 months after the listing date (August 17, 2024) </td> <td style="width:37%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom"> The remainder of the escrowed shares </td> </tr> </table> </div> 1/4 of the escrowed shares 1/4 of the escrowed shares 1/4 of the escrowed shares The remainder of the escrowed shares 0 20362500

<div> 9. STOCK OPTIONS The Company has a stock option plan (the "Plan") for directors, officers, employees, and consultants of the Company. Stock options are exercisable for periods of up to five years, as determined by the Board of Directors of the Company, to purchase common shares of the Company at a price not less than the discounted market price on the date of the grant. The maximum number of shares which may be issuable under the Plan cannot exceed 10% of the total number of issued and outstanding common shares on a non-diluted basis. The following table summarizes the continuity of the Company's stock options: <div> <div style="margin-left:18pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Number of stock options</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Weighted average exercise price $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify;background-color:#e6efff">Outstanding, December 31, 2023</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">7,770,000</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:12%;text-align:center;background-color:rgb(230, 239, 255)">0.41</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify;padding-left:7.2pt">Granted</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">1,325,000</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;width:12%;text-align:center">0.42</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify;padding-left:7.2pt;background-color:#e6efff">Exercised</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">(560,000</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:12%;text-align:center;background-color:rgb(230, 239, 255)">0.40</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify;padding-left:7.2pt">Expired</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">(740,000</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;width:12%;text-align:center">0.40</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:justify;padding-left:7.2pt;background-color:#e6efff">Forfeited</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">(3,120,000</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:12%;text-align:center;background-color:rgb(230, 239, 255)">0.42</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify">Outstanding, December 31, 2024</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">4,675,000</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;width:12%;text-align:center">0.42</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify;padding-left:6.75pt;background-color:#e6efff">Granted</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">150,000</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:12%;text-align:center;background-color:rgb(230, 239, 255)">5.72</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify;padding-left:6.75pt">Exercised</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">(1,581,250</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;width:12%;text-align:center">0.42</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify;padding-left:6.75pt;background-color:#e6efff">Expired</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">(725,000</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:12%;text-align:center;background-color:rgb(230, 239, 255)">0.40</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify;padding-left:6.75pt;border-bottom:0.75pt solid #000000">Forfeited</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;border-bottom:0.75pt solid #000000">(15,000</td> <td style="vertical-align:bottom;text-align:left;width:2%;border-bottom:0.75pt solid #000000">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:12%;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center">0.40</td> <td style="vertical-align:bottom;text-align:left;width:2%;border-bottom:0.75pt solid #000000"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:justify;background-color:#e6efff">Outstanding, December 31, 2025</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">2,503,750</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(0, 0, 0);width:12%;text-align:center;background-color:rgb(230, 239, 255)">0.75</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:justify">Exercisable, December 31, 2025</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%">558,750</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(0, 0, 0);width:12%;text-align:center">1.51</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> </tr> </table> </div> </div> <div style="margin-top:0pt;margin-bottom:0pt"></div> Additional information regarding stock options outstanding as at December 31, 2025, is as follows: <div> <div style="margin-left:18pt"> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-size:10pt;width:100%;border-color:#000000"> <tr> <td style="vertical-align:bottom;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="7" style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Outstanding</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Exercisable</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Range of exercise prices $</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Number of stock options</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Weighted average remaining contractual life (years)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Weighted average exercise price $</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Number of stock options</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Weighted average exercise price $</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:center;background-color:#e6efff">0.27</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">300,000</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">1.9</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">0.27</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">75,000</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">0.27</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:center">0.35</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">75,000</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">1.8</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">0.35</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:center;background-color:#e6efff">0.40 to 0.45</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">1,518,750</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">2.2</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">0.41</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">266,250</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">0.40</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:center">0.485 to 0.50</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">250,000</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">3.2</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">0.49</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">25,000</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">0.49</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:center;background-color:#e6efff">0.64 to 0.65</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">160,000</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">2.0</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">0.64</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">80,000</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">0.64</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:center">1.51</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">50,000</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">4.0</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">1.51</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">12,500</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">1.51</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:center;background-color:#e6efff">4.48</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">50,000</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">4.1</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">4.48</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid #000000">6.34</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;border-bottom:0.75pt solid #000000">100,000</td> <td style="vertical-align:bottom;text-align:left;width:2%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;border-bottom:0.75pt solid #000000">1.6</td> <td style="vertical-align:bottom;text-align:left;width:2%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;border-bottom:0.75pt solid #000000">6.34</td> <td style="vertical-align:bottom;text-align:left;width:2%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;border-bottom:0.75pt solid #000000">100,000</td> <td style="vertical-align:bottom;text-align:left;width:2%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;border-bottom:0.75pt solid #000000">6.34</td> <td style="vertical-align:bottom;text-align:left;width:2%;border-bottom:0.75pt solid #000000"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:center;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">2,503,750</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">2.3</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">0.75</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">558,750</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">1.51</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table> </div> </div> The fair value for stock options granted have been estimated using the Black-Scholes option pricing model assuming no expected dividends or forfeitures and the following weighted average assumptions: <div> <div style="margin-left:18pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt"> <tr> <td style="width:67%;vertical-align:top;border-bottom:0.75pt solid #000000"> </td> <td style="width:16%;vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap"> 2025 </td> <td style="width:16%;vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap"> 2024 </td> </tr> <tr> <td style="width:67%;vertical-align:top;border-top:0.75pt solid #000000"> </td> <td style="width:16%;vertical-align:top;border-top:0.75pt solid #000000"> </td> <td style="width:16%;vertical-align:top;border-top:0.75pt solid #000000"> </td> </tr> <tr> <td style="width:67%;vertical-align:top;background-color:#e6efff"> Risk-free interest rate </td> <td style="width:16%;vertical-align:top;background-color:rgb(230, 239, 255);text-align:center">2.77%</td> <td style="width:16%;vertical-align:top;background-color:rgb(230, 239, 255);text-align:center">3.17%</td> </tr> <tr> <td style="width:67%;vertical-align:top"> Expected life (in years) </td> <td style="width:16%;vertical-align:top;text-align:center">3.0</td> <td style="width:16%;vertical-align:top;text-align:center">4.5</td> </tr> <tr> <td style="width:67%;vertical-align:top;background-color:#e6efff"> Expected volatility </td> <td style="width:16%;vertical-align:top;background-color:rgb(230, 239, 255);text-align:center">210%</td> <td style="width:16%;vertical-align:top;background-color:rgb(230, 239, 255);text-align:center">203%</td> </tr> </table> </div> </div> During the year ended December 31, 2025, the Company recognized share-based compensation expense of $982,655 (2024 - $81,002). The weighted average fair value of the stock options granted during the year ended December 31, 2025 was $5.11 (2024 - $0.42) per option. The weighted average fair value of shares at the time of the stock option exercises during the year ended December 31, 2025 was $9.61 (2024 - $1.84) per common share. </div>

0.10

<div> <div style="margin-left:18pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Number of stock options</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Weighted average exercise price $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify;background-color:#e6efff">Outstanding, December 31, 2023</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">7,770,000</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:12%;text-align:center;background-color:rgb(230, 239, 255)">0.41</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify;padding-left:7.2pt">Granted</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">1,325,000</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;width:12%;text-align:center">0.42</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify;padding-left:7.2pt;background-color:#e6efff">Exercised</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">(560,000</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:12%;text-align:center;background-color:rgb(230, 239, 255)">0.40</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify;padding-left:7.2pt">Expired</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">(740,000</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;width:12%;text-align:center">0.40</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:justify;padding-left:7.2pt;background-color:#e6efff">Forfeited</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">(3,120,000</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:12%;text-align:center;background-color:rgb(230, 239, 255)">0.42</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify">Outstanding, December 31, 2024</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">4,675,000</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;width:12%;text-align:center">0.42</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify;padding-left:6.75pt;background-color:#e6efff">Granted</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">150,000</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:12%;text-align:center;background-color:rgb(230, 239, 255)">5.72</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify;padding-left:6.75pt">Exercised</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">(1,581,250</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;width:12%;text-align:center">0.42</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify;padding-left:6.75pt;background-color:#e6efff">Expired</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">(725,000</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:12%;text-align:center;background-color:rgb(230, 239, 255)">0.40</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify;padding-left:6.75pt;border-bottom:0.75pt solid #000000">Forfeited</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;border-bottom:0.75pt solid #000000">(15,000</td> <td style="vertical-align:bottom;text-align:left;width:2%;border-bottom:0.75pt solid #000000">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:12%;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center">0.40</td> <td style="vertical-align:bottom;text-align:left;width:2%;border-bottom:0.75pt solid #000000"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:justify;background-color:#e6efff">Outstanding, December 31, 2025</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">2,503,750</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(0, 0, 0);width:12%;text-align:center;background-color:rgb(230, 239, 255)">0.75</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:justify">Exercisable, December 31, 2025</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%">558,750</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(0, 0, 0);width:12%;text-align:center">1.51</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> </tr> </table> </div> </div>

7770000

0.41

1325000

0.42

560000

0.4

740000

0.4

3120000

0.42

4675000

0.42

150000

5.72

1581250

0.42

725000

0.4

15000

0.4

2503750

0.75

558750

1.51

<div> <div style="margin-left:18pt"> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-size:10pt;width:100%;border-color:#000000"> <tr> <td style="vertical-align:bottom;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="7" style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Outstanding</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Exercisable</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Range of exercise prices $</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Number of stock options</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Weighted average remaining contractual life (years)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Weighted average exercise price $</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Number of stock options</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Weighted average exercise price $</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:center;background-color:#e6efff">0.27</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">300,000</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">1.9</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">0.27</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">75,000</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">0.27</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:center">0.35</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">75,000</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">1.8</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">0.35</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:center;background-color:#e6efff">0.40 to 0.45</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">1,518,750</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">2.2</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">0.41</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">266,250</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">0.40</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:center">0.485 to 0.50</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">250,000</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">3.2</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">0.49</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">25,000</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">0.49</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:center;background-color:#e6efff">0.64 to 0.65</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">160,000</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">2.0</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">0.64</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">80,000</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">0.64</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:center">1.51</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">50,000</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">4.0</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">1.51</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">12,500</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">1.51</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:center;background-color:#e6efff">4.48</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">50,000</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">4.1</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">4.48</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid #000000">6.34</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;border-bottom:0.75pt solid #000000">100,000</td> <td style="vertical-align:bottom;text-align:left;width:2%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;border-bottom:0.75pt solid #000000">1.6</td> <td style="vertical-align:bottom;text-align:left;width:2%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;border-bottom:0.75pt solid #000000">6.34</td> <td style="vertical-align:bottom;text-align:left;width:2%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;border-bottom:0.75pt solid #000000">100,000</td> <td style="vertical-align:bottom;text-align:left;width:2%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;border-bottom:0.75pt solid #000000">6.34</td> <td style="vertical-align:bottom;text-align:left;width:2%;border-bottom:0.75pt solid #000000"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:center;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">2,503,750</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">2.3</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">0.75</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">558,750</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">1.51</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table> </div> </div>

0.27

300000

P1Y10M24D

0.27

75000

0.27

0.35

75000

P1Y9M18D

0.35

0.4

0.45

1518750

P2Y2M12D

0.41

266250

0.4

0.485

0.5

250000

P3Y2M12D

0.49

25000

0.49

0.64

0.65

160000

P2Y

0.64

80000

0.64

1.51

50000

P4Y

1.51

12500

1.51

4.48

50000

P4Y1M6D

4.48

6.34

100000

P1Y7M6D

6.34

100000

6.34

2503750

P2Y3M18D

0.75

558750

1.51

<div> <div style="margin-left:18pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt"> <tr> <td style="width:67%;vertical-align:top;border-bottom:0.75pt solid #000000"> </td> <td style="width:16%;vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap"> 2025 </td> <td style="width:16%;vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap"> 2024 </td> </tr> <tr> <td style="width:67%;vertical-align:top;border-top:0.75pt solid #000000"> </td> <td style="width:16%;vertical-align:top;border-top:0.75pt solid #000000"> </td> <td style="width:16%;vertical-align:top;border-top:0.75pt solid #000000"> </td> </tr> <tr> <td style="width:67%;vertical-align:top;background-color:#e6efff"> Risk-free interest rate </td> <td style="width:16%;vertical-align:top;background-color:rgb(230, 239, 255);text-align:center">2.77%</td> <td style="width:16%;vertical-align:top;background-color:rgb(230, 239, 255);text-align:center">3.17%</td> </tr> <tr> <td style="width:67%;vertical-align:top"> Expected life (in years) </td> <td style="width:16%;vertical-align:top;text-align:center">3.0</td> <td style="width:16%;vertical-align:top;text-align:center">4.5</td> </tr> <tr> <td style="width:67%;vertical-align:top;background-color:#e6efff"> Expected volatility </td> <td style="width:16%;vertical-align:top;background-color:rgb(230, 239, 255);text-align:center">210%</td> <td style="width:16%;vertical-align:top;background-color:rgb(230, 239, 255);text-align:center">203%</td> </tr> </table> </div> </div>

0.0277

0.0317

4.5

2.10

2.03

982655

81002

5.11

0.42

9.61 1.84 <div> 10. SHARE PURCHASE WARRANTS The following table summarizes the continuity of share purchase warrants: <div> <div style="margin-left:18pt"> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="padding-right:5.4pt;padding-left:45.7pt;vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:justify;text-indent:-18pt;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Number of warrants</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Weighted average exercise price $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-top:0.75pt solid #000000"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;background-color:rgb(230, 239, 255)">Balance, December 31, 2023</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">232,936</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">0.40</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:12.6pt;vertical-align:bottom;text-align:justify">Issued</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">167,785</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">4.09</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:12.6pt;vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:justify;background-color:#e6efff">Exercised</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">(134,105</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">0.40</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom">Balance, December 31, 2024</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">266,616</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">2.72</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:12.6pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Issued</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">138,888</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">12.60</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:12.6pt;vertical-align:bottom;text-align:justify">Exercised</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">(40,437</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">0.40</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:12.6pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Expired</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">(58,394</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">0.40</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-bottom:1.5pt solid rgb(0, 0, 0)">Balance, December 31, 2025</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%">306,673</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%">7.94</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> </tr> </table> </div> </div> </div> <div></div> As at December 31, 2025, the following share purchase warrants were outstanding and exercisable: <div> <div style="margin-left:18pt"> <table cellpadding="0" cellspacing="0" style="width:50%;border-collapse:collapse;font-size:10pt"> <tr> <td style="width:26%;vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap">Number of warrants outstanding</td> <td style="width:21%;vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap">Exercise price $</td> <td style="margin-top:0pt;padding-left:4.5pt;white-space:nowrap"> Expiry date</td> </tr> <tr> <td style="width:26%;vertical-align:top;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="width:21%;vertical-align:top;border-top:0.75pt solid #000000;text-align:center"> </td> <td style="width:52%;vertical-align:top;border-top:0.75pt solid #000000;padding-left:4.5pt"> </td> </tr> <tr> <td style="width:26%;vertical-align:bottom;text-align:right;background-color:#e6efff">167,785</td> <td style="width:21%;vertical-align:top;text-align:center;background-color:#e6efff"> 4.09</td> <td style="width:52%;vertical-align:top;padding-left:4.5pt;background-color:#e6efff">December 19, 2029</td> </tr> <tr> <td style="width:26%;vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right">138,888</td> <td style="width:21%;vertical-align:top;text-align:center">12.60</td> <td style="width:52%;vertical-align:top;padding-left:4.5pt">July 11, 2030</td> </tr> <tr> <td style="width:26%;vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;background-color:#e6efff"> </td> <td style="width:21%;vertical-align:top;text-align:right;background-color:#e6efff"> </td> <td style="width:52%;vertical-align:top;padding-left:4.5pt;background-color:#e6efff"> </td> </tr> <tr> <td style="width:26%;vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right">306,673</td> <td style="width:21%;vertical-align:top;text-align:right"> </td> <td style="width:52%;vertical-align:top;padding-left:4.5pt"> </td> </tr> </table> </div> </div> </div> <div> <div style="margin-left:18pt"> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="padding-right:5.4pt;padding-left:45.7pt;vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:justify;text-indent:-18pt;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Number of warrants</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Weighted average exercise price $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-top:0.75pt solid #000000"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;background-color:rgb(230, 239, 255)">Balance, December 31, 2023</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">232,936</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">0.40</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:12.6pt;vertical-align:bottom;text-align:justify">Issued</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">167,785</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">4.09</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:12.6pt;vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:justify;background-color:#e6efff">Exercised</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">(134,105</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">0.40</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom">Balance, December 31, 2024</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">266,616</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">2.72</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:12.6pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Issued</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">138,888</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">12.60</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:12.6pt;vertical-align:bottom;text-align:justify">Exercised</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">(40,437</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">0.40</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:12.6pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Expired</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">(58,394</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">0.40</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-bottom:1.5pt solid rgb(0, 0, 0)">Balance, December 31, 2025</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%">306,673</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%">7.94</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> </tr> </table> </div> </div> </div>

232936

0.4

167785

4.09

134105

0.4

266616

2.72

138888

12.6

40437

0.4

58394

0.4

306673

7.94

<div> <div style="margin-left:18pt"> <table cellpadding="0" cellspacing="0" style="width:50%;border-collapse:collapse;font-size:10pt"> <tr> <td style="width:26%;vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap">Number of warrants outstanding</td> <td style="width:21%;vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap">Exercise price $</td> <td style="margin-top:0pt;padding-left:4.5pt;white-space:nowrap"> Expiry date</td> </tr> <tr> <td style="width:26%;vertical-align:top;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="width:21%;vertical-align:top;border-top:0.75pt solid #000000;text-align:center"> </td> <td style="width:52%;vertical-align:top;border-top:0.75pt solid #000000;padding-left:4.5pt"> </td> </tr> <tr> <td style="width:26%;vertical-align:bottom;text-align:right;background-color:#e6efff">167,785</td> <td style="width:21%;vertical-align:top;text-align:center;background-color:#e6efff"> 4.09</td> <td style="width:52%;vertical-align:top;padding-left:4.5pt;background-color:#e6efff">December 19, 2029</td> </tr> <tr> <td style="width:26%;vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right">138,888</td> <td style="width:21%;vertical-align:top;text-align:center">12.60</td> <td style="width:52%;vertical-align:top;padding-left:4.5pt">July 11, 2030</td> </tr> <tr> <td style="width:26%;vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;background-color:#e6efff"> </td> <td style="width:21%;vertical-align:top;text-align:right;background-color:#e6efff"> </td> <td style="width:52%;vertical-align:top;padding-left:4.5pt;background-color:#e6efff"> </td> </tr> <tr> <td style="width:26%;vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right">306,673</td> <td style="width:21%;vertical-align:top;text-align:right"> </td> <td style="width:52%;vertical-align:top;padding-left:4.5pt"> </td> </tr> </table> </div> </div>

167785

4.09

138888

12.6

306673

1985000

800000

840000

1945000

2854800

1390000

3409800

2247500

1162300

2854800

800000

6.33

0.75

8865439 -79939 5356050 496500 1390000 840000 <div> 12. PERFORMANCE SHARE UNITS A summary of the changes in performance share units ("PSUs") is presented below: <div> <div style="margin-left:18pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Number of PSUs</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> </tr> <tr> <td style="vertical-align:bottom;background-color:rgb(230, 239, 255)">Balance, December 31, 2023 and 2024</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify;padding-left:6.75pt">Issued</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">800,000</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify;background-color:#e6efff">Balance, December 31, 2025</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">800,000</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:justify">Unvested</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">800,000</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:justify;background-color:#e6efff">Vested, December 31, 2025</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table> </div> </div> During the year ended December 31, 2025, 800,000 PSUs (2024 - nil) were granted. The weighted average grant date fair value for PSUs granted during the year end December 31, 2025 was $9.30 per RSU (2024 - $nil). During the year ended December 31, 2025, the Company recognized share-based compensation expense of $744,158 (2024 - $nil) with a corresponding increase to PSU reserve. </div> <div> <div style="margin-left:18pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Number of PSUs</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> </tr> <tr> <td style="vertical-align:bottom;background-color:rgb(230, 239, 255)">Balance, December 31, 2023 and 2024</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify;padding-left:6.75pt">Issued</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">800,000</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify;background-color:#e6efff">Balance, December 31, 2025</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">800,000</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:justify">Unvested</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">800,000</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:justify;background-color:#e6efff">Vested, December 31, 2025</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table> </div> </div>

800000

9.3

744158 0

<div> <div style="margin-left:18pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">2025 $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">2024 $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Consulting fees</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">24,278</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Professional fees</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">84,000</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">84,000</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Research and development</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">112,792</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">249,842</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Share-based compensation</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">109,892</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">28,905</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff;border-bottom:0.75pt solid #000000">Wages and benefits</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff;border-bottom:0.75pt solid #000000">115,459</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff;border-bottom:0.75pt solid #000000">282,623</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff;border-bottom:0.75pt solid #000000"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-bottom:1.5pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%">422,143</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%">669,648</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> </tr> </table> </div> </div>

0 24278

84000

112792

249842

109892

28905

115459

282623

422143

669648

132170

124247

106288

97075

137369

7350

26534

203970

<div> <div style="margin-left:18pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">2025 $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">2024 $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Non-cash investing and financing activities:</td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-left:14.4pt;text-indent:-7.2pt">Right-of-use asset and corresponding lease obligation</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">179,170</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-left:14.4pt;text-indent:-7.2pt;background-color:#e6efff">Carrying value of convertible debt recorded in share capital upon conversion</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">1,544,672</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-left:14.4pt;text-indent:-7.2pt">Equity portion of convertible debt transferred from reserve to share capital upon conversion</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">427,483</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-left:14.4pt;text-indent:-7.2pt;background-color:#e6efff">Fair value of RSUs converted to shares transferred from RSUs reserve to share capital</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">5,356,050</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">496,500</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-left:14.4pt;text-indent:-7.2pt">Fair value of stock options exercised transferred from options reserve to share capital</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">604,231</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">209,662</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-left:14.4pt;text-indent:-7.2pt;background-color:#e6efff">Fair value of warrants exercised transferred from warrants reserve to share capital</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">12,794</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">38,796</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;padding-left:14.4pt;text-indent:-7.2pt">Finders' warrants issued pursuant to private placement</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%">1,357,406</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%">470,286</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> </tr> </table> </div> </div>

179170

0 1544672 0 427483 5356050 496500 604231 209662 12794 38796 1357406 470286

<div> 15. FINANCIAL INSTRUMENTS AND RISK MANAGEMENT (a) Fair Values Fair value hierarchy The following provides a description of financial instruments that are measured subsequent to initial recognition at fair value, grouped into Levels 1 to 3 based on the degree to which the fair value is observable: <div></div> <ul style="padding-left:0pt"> <li style="margin-left:63.6pt;text-align:justify;padding-left:8.4pt">Level 1 fair value measurements are those derived from quoted prices (unadjusted) in active markets for identical assets or liabilities;</li> <li style="margin-left:63.6pt;text-align:justify;padding-left:8.4pt">Level 2 fair value measurements are those derived from inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices); and</li> <li style="margin-left:63.6pt;text-align:justify;padding-left:8.4pt">Level 3 fair value measurements are those derived from valuation techniques that include inputs for the asset or liability that are not based on observable market data (unobservable inputs).</li> </ul> Assets and liabilities measured at fair value on a recurring basis were presented on the Company's statement of financial position as at December 31, 2025 and 2024 as follows: <div> <div style="margin-left:36pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="vertical-align:bottom;text-align:center"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td colspan="7" style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center">Fair value measurements using</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;text-align:center"> </td> <td style="vertical-align:bottom;text-align:center"> </td> <td style="vertical-align:bottom;text-align:center"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> Quoted prices in active markets for identical instruments (Level 1) $ </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> Significant other observable inputs (Level 2) $ </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> Significant unobservable inputs (Level 3) $ </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> Balance, December 31, 2025 $ </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:justify;background-color:#e6efff">Investments</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">7,098,893</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">1,038,050</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">8,136,943</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table> </div> <div style="margin-left:36pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="vertical-align:bottom;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td colspan="7" style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap">Fair value measurements using</td> <td colspan="1" style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:center"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> Quoted prices in active markets for identical instruments (Level 1) $ </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> Significant other observable inputs (Level 2) $ </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> Significant unobservable inputs (Level 3) $ </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> Balance, December 31, 2024 $ </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:justify;background-color:#e6efff">Investments</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">77,229</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">77,229</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table> </div> </div> The fair values of the Company's other financial instruments, which include cash, short-term investments, other receivables (except GST), accounts payable and accrued liabilities, and due to related parties, approximate their carrying values due to the relatively short-term maturity of these instruments. (b) Credit Risk Financial instruments that potentially subject the Company to a concentration of credit risk consist primarily of cash and cash equivalents and short-term investments. The Company limits its exposure to credit loss by placing its cash and cash equivalents and short-term investments with high credit quality financial institutions. The carrying amount of financial assets represents the maximum credit exposure. (c) Foreign Exchange Rate Risk Foreign currency risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate due to changes in foreign exchange rates. The Company is exposed to foreign currency risk to the extent that monetary assets and liabilities are denominated in a foreign currency. The following tables indicate the impact of foreign currency exchange risk on net working capital as at December 31, 2025 and 2024. The tables below also provides a sensitivity analysis of a 10% strengthening of the foreign currency against functional currencies identified which would have increased (decreased) the Company's net loss by the amounts shown in the tables below. A 10% weakening of the foreign currency against the functional currencies would have had the equal but opposite effect as at December 31, 2025 and 2024. <div></div> <div> <div style="margin-left:36pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:justify">2025</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">TWD</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">KRW</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">US$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify;background-color:#e6efff">Cash</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">43,511</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">218,798</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify">Investments</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">7,472,518,740</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:justify;background-color:#e6efff">Accounts payable and accrued liabilities</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">(185,400</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">(782,639</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:justify">Total foreign currency financial assets and liabilities</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%">(141,889</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%">7,472,518,740</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%">(563,841</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%">)</td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:justify;background-color:#e6efff">Impact of a 10% strengthening or weakening of foreign exchange rate</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">(14,189</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">747,251,874</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">(56,384</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> </table> </div> <div style="margin-left:36pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:justify">2024</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">TWD</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">US$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify;background-color:#e6efff">Cash</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">82,993</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">(1,249</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify">Other receivables (except GST)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">106,489</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify;border-bottom:0.75pt solid #000000;background-color:#e6efff">Accounts payable and accrued liabilities</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;border-bottom:0.75pt solid #000000;background-color:#e6efff">(6,337,488</td> <td style="vertical-align:bottom;text-align:left;width:2%;border-bottom:0.75pt solid #000000;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;border-bottom:0.75pt solid #000000;background-color:#e6efff">(237,069</td> <td style="vertical-align:bottom;text-align:left;width:2%;border-bottom:0.75pt solid #000000;background-color:#e6efff">)</td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:justify">Total foreign currency financial assets and liabilities</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%">(6,254,495</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%">(131,829</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%">)</td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:justify;background-color:#e6efff">Impact of a 10% strengthening or weakening of foreign exchange rate</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">(625,450</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">(13,183</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> </table> </div> </div> (d) Interest Rate Risk Interest rate risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company is not exposed to significant interest rate risk as it does not have any liabilities with variable rates. (e) Liquidity Risk Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they fall due. The Company's objective to managing liquidity risk is to ensure that it has sufficient liquidity available to meet its liabilities when due. The Company relies on raising debt or equity financing in a timely manner. The following amounts are the contractual maturities of financial liabilities as at December 31, 2025, and 2024: <div> <div style="margin-left:36pt"> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:justify;white-space:nowrap">2025 </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap">Total $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap">Within 1 year $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap">Within 2-5 years $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="vertical-align:bottom;background-color:#e6efff">Accounts payable and accrued liabilities</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">2,151,111</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">2,151,111</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom">Due to related parties</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">25,882</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">25,882</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;background-color:#e6efff">Total</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">2,176,993</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">2,176,993</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:12%;text-align:right"> </td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:12%;text-align:right"> </td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:12%;text-align:right"> </td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:justify;white-space:nowrap">2024</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:12%;text-align:center;white-space:nowrap">Total $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:2%;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:1%;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:12%;text-align:center;white-space:nowrap">Within 1 year $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:2%;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:1%;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:12%;text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt">Within 2-5 years $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;background-color:#e6efff">Accounts payable and accrued liabilities</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">1,450,252</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">1,450,252</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom">Due to related parties</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">27,172</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">27,172</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;background-color:#e6efff">Total</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">1,477,424</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">1,477,424</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table> </div> </div> </div> (f) Price Risk The Company is exposed to price risk with respect to investment in public entities. The Company is subject to risks associated with fluctuations in the market price of such investments. </div>

<div> <div style="margin-left:36pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="vertical-align:bottom;text-align:center"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td colspan="7" style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center">Fair value measurements using</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;text-align:center"> </td> <td style="vertical-align:bottom;text-align:center"> </td> <td style="vertical-align:bottom;text-align:center"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> Quoted prices in active markets for identical instruments (Level 1) $ </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> Significant other observable inputs (Level 2) $ </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> Significant unobservable inputs (Level 3) $ </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> Balance, December 31, 2025 $ </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:justify;background-color:#e6efff">Investments</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">7,098,893</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">1,038,050</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">8,136,943</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table> </div> <div style="margin-left:36pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="vertical-align:bottom;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td colspan="7" style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap">Fair value measurements using</td> <td colspan="1" style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:center"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> Quoted prices in active markets for identical instruments (Level 1) $ </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> Significant other observable inputs (Level 2) $ </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> Significant unobservable inputs (Level 3) $ </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> Balance, December 31, 2024 $ </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:justify;background-color:#e6efff">Investments</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">77,229</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">77,229</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table> </div> </div>

7098893

1038050

8136943

77229

<div> <div style="margin-left:36pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:justify">2025</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">TWD</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">KRW</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">US$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify;background-color:#e6efff">Cash</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">43,511</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">218,798</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify">Investments</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">7,472,518,740</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:justify;background-color:#e6efff">Accounts payable and accrued liabilities</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">(185,400</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">(782,639</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:justify">Total foreign currency financial assets and liabilities</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%">(141,889</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%">7,472,518,740</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%">(563,841</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%">)</td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:justify;background-color:#e6efff">Impact of a 10% strengthening or weakening of foreign exchange rate</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">(14,189</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">747,251,874</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">(56,384</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> </table> </div> <div style="margin-left:36pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:justify">2024</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">TWD</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">US$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify;background-color:#e6efff">Cash</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">82,993</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">(1,249</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify">Other receivables (except GST)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">106,489</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify;border-bottom:0.75pt solid #000000;background-color:#e6efff">Accounts payable and accrued liabilities</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;border-bottom:0.75pt solid #000000;background-color:#e6efff">(6,337,488</td> <td style="vertical-align:bottom;text-align:left;width:2%;border-bottom:0.75pt solid #000000;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;border-bottom:0.75pt solid #000000;background-color:#e6efff">(237,069</td> <td style="vertical-align:bottom;text-align:left;width:2%;border-bottom:0.75pt solid #000000;background-color:#e6efff">)</td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:justify">Total foreign currency financial assets and liabilities</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%">(6,254,495</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%">(131,829</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%">)</td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:justify;background-color:#e6efff">Impact of a 10% strengthening or weakening of foreign exchange rate</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">(625,450</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">(13,183</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> </table> </div> </div>

43511

218798

7472518740

185400

782639

-141889

7472518740

-563841

-14189 747251874 -56384

82993

-1249

106489

6337488

237069

-6254495

-131829

-625450 -13183

<div> <div style="margin-left:36pt"> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:justify;white-space:nowrap">2025 </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap">Total $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap">Within 1 year $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap">Within 2-5 years $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="vertical-align:bottom;background-color:#e6efff">Accounts payable and accrued liabilities</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">2,151,111</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">2,151,111</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom">Due to related parties</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">25,882</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">25,882</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;background-color:#e6efff">Total</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">2,176,993</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">2,176,993</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:12%;text-align:right"> </td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:12%;text-align:right"> </td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:12%;text-align:right"> </td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:justify;white-space:nowrap">2024</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:12%;text-align:center;white-space:nowrap">Total $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:2%;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:1%;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:12%;text-align:center;white-space:nowrap">Within 1 year $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:2%;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:1%;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:12%;text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt">Within 2-5 years $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;background-color:#e6efff">Accounts payable and accrued liabilities</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">1,450,252</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">1,450,252</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom">Due to related parties</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">27,172</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">27,172</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;background-color:#e6efff">Total</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">1,477,424</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">1,477,424</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table> </div> </div> </div>

2151111

25882

2176993

1450252

27172

1477424

<div> <div style="margin-left:18pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-bottom:0pt;border-bottom:0.75pt solid #000000;vertical-align:bottom;white-space:nowrap">2025 </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Canada $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Australia $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Total $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Non-current assets</td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-left:7.2pt;border-bottom:1.5pt solid #000000">Property and equipment</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">4,269</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">15,038</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">19,307</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #000000;vertical-align:bottom;background-color:#e6efff">Revenue</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">315,497</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">315,497</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table> </div> <div style="margin-left:18pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-bottom:0pt;border-bottom:0.75pt solid #000000;vertical-align:bottom;white-space:nowrap">2024 </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Canada $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Australia $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Total $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Non-current assets</td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;padding-left:7.2pt">Deposits</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%">18,902</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%">10,703</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%">29,605</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #000000;vertical-align:bottom;background-color:#e6efff">Revenue</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">666,667</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">666,667</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> </tr> </table> </div> </div>

4269

15038

19307

315497

18902

10703

29605

666667

315497

666667

315497

<table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:justify;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">2025 $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">2024 $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Major goods/service lines</td> <td style="vertical-align:bottom;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:justify;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:justify">Software license</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%">315,497</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%">666,667</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Timing of revenue recognition</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:justify">Software license transferred over time</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%">315,497</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%">666,667</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> </tr> </table>

315497

666667

315497

666667

225848

62970

201337

119795

233544 118392

333195

161293

108971

232193

0 61374

1102895

756017

<div> 21. INCOME TAXES The following table reconciles the expected income tax expense (recovery) at the statutory income tax rates to the amounts recognized in the consolidated statements of operations and comprehensive loss for the years ended December 31, 2025 and 2024: <div> <div style="margin-left:18pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">2025 $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">2024 $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Net loss before income taxes</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">(24,605,873</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">(6,054,418</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:justify">Statutory tax rate</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">27%</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">27%</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Expected income tax recovery</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">(6,643,586</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">(1,634,693</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Tax effect of:</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"> </td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"> </td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:12.6pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Permanent differences and other</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">257,585</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">29,503</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:12.6pt;vertical-align:bottom;text-align:justify">Difference due to tax rate of foreign jurisdiction</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">135,038</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">504,207</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:12.6pt;vertical-align:bottom;background-color:#e6efff">Foreign exchange rate impact on temporary differences</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">37,493</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">(53,385</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:12.6pt;vertical-align:bottom">Financing fees</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">(820,760</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">(232,425</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:12.6pt;vertical-align:bottom;background-color:#e6efff">True up of prior year difference</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">(11,415</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:12.6pt;vertical-align:bottom;border-bottom:0.75pt solid #000000">Change in unrecognized deferred income tax assets</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;border-bottom:0.75pt solid #000000">7,045,645</td> <td style="vertical-align:bottom;text-align:left;width:2%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;border-bottom:0.75pt solid #000000">1,409,111</td> <td style="vertical-align:bottom;text-align:left;width:2%;border-bottom:0.75pt solid #000000"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:justify;background-color:#e6efff">Income tax provision</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">22,318</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table> </div> </div> The significant components of deferred income tax assets and liabilities are as follows: <div> <div style="margin-left:18pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">2025 $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">2024 $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Deferred income tax assets (liability)</td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:12.6pt;vertical-align:bottom;text-align:justify">Non-capital losses carried forward</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">9,534,795</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">3,057,355</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:12.6pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Intangible asset</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">74,461</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">74,461</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:12.6pt;vertical-align:bottom;text-align:justify">Investments</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">(36,886</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:12.6pt;vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:justify;background-color:#e6efff">Share issuance costs</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">806,125</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">201,034</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Total gross deferred income tax assets</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">10,378,495</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">3,332,850</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:justify;background-color:#e6efff">Total unrecognized deductible deferred income tax assets</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">(10,378,495</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">(3,332,850</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:justify">Net deferred income tax asset</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> </tr> </table> </div> </div> <div style="margin-top:0pt;margin-bottom:0pt"></div> Deferred income tax assets are only recognized to the extent that the realization of tax benefits is determined to be probable. As at December 31, 2024 and 2023, the Company has not recognized the benefit of the following deductible temporary differences: <div> <div style="margin-left:18pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Expiry</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">2025 $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Expiry</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">2024 $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="vertical-align:bottom;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify;background-color:#e6efff">Non-capital losses - Canadian</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:12%;text-align:center;background-color:#e6efff">2043 to 2045</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">29,385,675</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:12%;text-align:center;background-color:#e6efff">2043 to 2044</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">6,425,696</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify">Non-capital losses - foreign</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;width:12%;text-align:center">No expiry</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">11,922,094</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;width:12%;text-align:center">No expiry</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">10,574,273</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify;background-color:#e6efff;border-bottom:0.75pt solid #000000">Share issuance costs</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:12%;text-align:center;background-color:#e6efff;border-bottom:0.75pt solid #000000">2026 to 2029</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff;border-bottom:0.75pt solid #000000">2,985,649</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:12%;text-align:center;background-color:#e6efff;border-bottom:0.75pt solid #000000">2025 to 2028</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff;border-bottom:0.75pt solid #000000">744,570</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff;border-bottom:0.75pt solid #000000"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%">44,293,418</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%">17,744,539</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> </tr> </table> </div> </div> The Group's current tax provision of $nil (2024 - $22,318) relates to management's assessment of the amount of tax payable on open tax positions where the liabilities remain to be agreed upon with foreign tax authorities. Uncertain tax items for which a provision of $nil (2024 - $22,318) is made, relate principally to the interpretation of tax legislation regarding arrangements entered into by the Group. </div>

<div> <div style="margin-left:18pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">2025 $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">2024 $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Net loss before income taxes</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">(24,605,873</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">(6,054,418</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:justify">Statutory tax rate</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">27%</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">27%</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Expected income tax recovery</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">(6,643,586</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">(1,634,693</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Tax effect of:</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"> </td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"> </td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:12.6pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Permanent differences and other</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">257,585</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">29,503</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:12.6pt;vertical-align:bottom;text-align:justify">Difference due to tax rate of foreign jurisdiction</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">135,038</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">504,207</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:12.6pt;vertical-align:bottom;background-color:#e6efff">Foreign exchange rate impact on temporary differences</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">37,493</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">(53,385</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:12.6pt;vertical-align:bottom">Financing fees</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">(820,760</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">(232,425</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:12.6pt;vertical-align:bottom;background-color:#e6efff">True up of prior year difference</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">(11,415</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:12.6pt;vertical-align:bottom;border-bottom:0.75pt solid #000000">Change in unrecognized deferred income tax assets</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;border-bottom:0.75pt solid #000000">7,045,645</td> <td style="vertical-align:bottom;text-align:left;width:2%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;border-bottom:0.75pt solid #000000">1,409,111</td> <td style="vertical-align:bottom;text-align:left;width:2%;border-bottom:0.75pt solid #000000"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:justify;background-color:#e6efff">Income tax provision</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">22,318</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table> </div> </div>

-24605873

-6054418

0.27

-6643586

-1634693

257585

29503

135038

504207

37493

-53385

-820760 -232425

11415

7045645

1409111

22318

<div> <div style="margin-left:18pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">2025 $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">2024 $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Deferred income tax assets (liability)</td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:12.6pt;vertical-align:bottom;text-align:justify">Non-capital losses carried forward</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">9,534,795</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">3,057,355</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:12.6pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Intangible asset</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">74,461</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">74,461</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:12.6pt;vertical-align:bottom;text-align:justify">Investments</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">(36,886</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:12.6pt;vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:justify;background-color:#e6efff">Share issuance costs</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">806,125</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">201,034</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Total gross deferred income tax assets</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">10,378,495</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">3,332,850</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:justify;background-color:#e6efff">Total unrecognized deductible deferred income tax assets</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">(10,378,495</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">(3,332,850</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:justify">Net deferred income tax asset</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> </tr> </table> </div> </div>

9534795

3057355

74461

36886

806125

201034

10378495

3332850

-10378495

-3332850

29385675

6425696

11922094

10574273

2985649

744570

44293418

17744539

22318

0 22318

6407350

3824108

2984467

1620232

256214

1582000

850000

600000

7.85

227500

93125

50000

557500 125000