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Convertible Notes and Convertible Notes - Related Parties (Tables)
12 Months Ended
Dec. 31, 2025
Convertible Notes and Convertible Notes - Related Parties  
Schedule of roll forward of convertible notes and convertible notes - related party

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Convertible

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Convertible

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Notes – Related

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Notes

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Party

Balance at January 1, 2024

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$

7,918,528

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$

2,032,017

Bridge Round Offering proceeds

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6,563,000

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650,000

Loss on extinguishment of debt

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1,183,289

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202,204

Recognition of debt discount

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(2,173,509)

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(514,827)

Foreign currency translation adjustment

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(369,323)

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(130,898)

Amortization of debt discount

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586,847

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133,498

Balance at December 31, 2024

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13,708,832

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2,371,994

February 2025 Offering proceeds

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9,335,000

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1,650,000

Recognition of debt discount

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(2,323,073)

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(271,458)

Amortization of debt discount

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1,698,368

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439,616

Conversion of convertible notes to common shares, exclusive of accrued interest converted

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(22,419,127)

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(4,190,152)

Balance at December 31, 2025

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$

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$

—

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2024 Bridge Round Offering  
Convertible Notes and Convertible Notes - Related Parties  
Summary of inputs used in valuation techniques for warrants issued with convertible notes

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2024 Bridge

 

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Round Offering

 

Stock price

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$

1.16

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Exercise (Strike) price

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$

2.24

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Time to maturity (years)

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4.1

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Annualized risk-free rate

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4.3

%

Annualized volatility

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63.0

%

February 2025 Offering  
Convertible Notes and Convertible Notes - Related Parties  
Summary of inputs used in valuation techniques for warrants issued with convertible notes

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February 2025

 

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Bridge Round

 

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Offering

 

Stock price

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$

1.45

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Exercise (Strike) price

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$

2.24

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Time to maturity (years)

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3.4

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Annualized risk-free rate

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4.2

%

Annualized volatility

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51.3

%