v3.22.1
Consolidated Statements of Cash Flows - CAD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities      
  Net loss for the year $ (1,652,282) $ (1,284,602) $ (629,576)
  Items not affecting cash:      
        Accretion expense 846 1,638
      Amortization 17,882 20,439 19,900
      Forgiveness of debt (91,014)
      Impairment of intangible assets 64,562
      Fair value adjustment on derivative warrant liability (3,299,768)
      Share-based payments 499,158 293,443 26,317
      Shares issued for services 75,000  
      Unrealized foreign exchange (gain) loss (325,741) 1,201 34,064
      Recovery of provision for patent acquisition (95,490)
  Changes in non-cash operating assets and liabilities:      
      Fund held in trust (70,000)
      Accounts receivable (37,188) 14,788
      Prepaid expenses (1,006,357) (42,998)
        Accounts payable and accrued liabilities (333,214) 405,212 353,289
 TOTAL (6,062,510) (728,401) (249,580)
Investing activity      
  Acquisition of intangible assets (39,809) (14,350) (7,037)
Financing activities      
  Proceeds from issuance of shares 22,798,581 900,000
  Cash share issuance costs (856,113) (44,592)
  Options exercised 84,000
  Warrants exercised 2,430,083
  Deferred share issuance costs (14,788)
  Share subscription received in advance 70,000
Net cash flows from (used in) financing activities 24,456,551 855,408 55,212
Effect of foreign exchange on cash 325,741
Increase in cash 18,679,973 112,657 (201,405)
Cash, beginning of year 171,271 58,614 260,019
Cash, end of year 18,851,244 171,271 58,614
   Recognition of derivative warrant liabilities 12,783,000
   Derivative warrant liability reclassified to reserves 4,460,000
Derivative warrant liability reclassified to share capital on exercise of warrants 425,900
   Transfer of funds held in trust 70,000
   Shares issued for deposit 1,606,320
   Shares issued to settle debt 50,000
   Obligation to issue shares 32,238
   Application of Cato deposit against payable $ 436,240

Source