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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

Convertible

Notes – Related

Notes

Party

Balance at January 1, 2024

$

7,918,528

$

2,032,017

Bridge Round Offering proceeds

 

6,563,000

 

650,000

Loss on extinguishment of debt

 

1,183,289

 

202,204

Recognition of debt discount

 

(2,173,509)

 

(514,827)

Foreign currency translation adjustment

 

(369,323)

 

(130,898)

Amortization of debt discount

 

586,847

 

133,498

Balance at December 31, 2024

13,708,832

2,371,994

February 2025 Offering proceeds

9,335,000

 

1,650,000

Recognition of debt discount

 

(2,323,073)

 

(271,458)

Amortization of debt discount

 

1,698,368

 

439,616

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

 

(22,419,127)

(4,190,152)

Balance at December 31, 2025

$

$

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

 

Round Offering

 

Stock price

$

1.16

Exercise (Strike) price

$

2.24

Time to maturity (years)

 

4.1

Annualized risk-free rate

 

4.3

%

Annualized volatility

 

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

 

Bridge Round

 

Offering

 

Stock price

$

1.45

Exercise (Strike) price

$

2.24

Time to maturity (years)

 

3.4

Annualized risk-free rate

 

4.2

%

Annualized volatility

 

51.3

%