Common Stock

9 Months Ended

Sep. 30, 2024

Common Stock

Common Stock

Note 10: Common Stock

Common Stock

On September 26, 2024, the Company filed Articles of Amendment to effect a share consolidation (also known as a reverse stock split) of its issued and outstanding common shares on a one-for-twenty-five basis. The share consolidation became effective on September 26, 2024. All share and per share amounts have been restated for all periods presented to reflect the share consolidation.

As at September 30, 2024, the Company had authorized 501,000,000 shares, of which 500,000,000 shares are Common Stock with a par value of $0.001 per share and 1,000,000 shares are Preferred Stock (see Note 17) with a par value of $0.001 per share.

At September 30, 2024, 19,987,241 common stock was issued and outstanding. The following table details the number of common stock issued:

	Number of Stock
Balance, December 31, 2022		6,431,865
Conversion of convertible promissory notes		11,955,376
Common shares issued for acquisition		1,600,000
Balance, December 31, 2023		19,987,241
Balance, September 30, 2024		19,987,241

During 2023, the Company issued 11,955,376 shares upon conversions of convertible promissory notes (see Note 4 for details). No shares have been issued this fiscal year to September 30, 2024.