Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Interim Balance Sheets

v3.23.2
Condensed Consolidated Interim Balance Sheets
Jun. 30, 2023
USD ($)
Dec. 31, 2022
USD ($)
Current    
Cash and cash equivalents $ 1,005,340 $ 2,269,320
Other receivable 61,798 48,941
Prepaid expenses and other current assets (Note 3) 198,024 598,342
Advance (Note 4) 223,564
Total current assets 1,488,726 2,916,603
Non-current    
Property and equipment, net 101,340 121,672
Intangible asset (Note 5) 13,055,176 13,089,377
Operating lease right-of-use asset 1,483,320 1,540,748
Construction in progress 2,098,892 2,092,533
Land deposit (Note 3) 2,085,960
Total assets 18,227,454 21,846,893
Current    
Accounts payable and accrued liabilities (Note 6) 1,554,807 1,147,739
Debentures (Note 7 and 12) 5,175,138 3,941,916
Lease liability – current (Note 11) 280,052 271,110
Total current liabilities 7,009,997 5,360,765
Non-current    
Lease liability – non-current (Note 11) 1,191,293 1,250,060
Derivative liabilities (Note 7 and 9) 2,671,611 4,649,115
Long term loan (Note 8) 45,317 44,300
Total liabilities 10,918,218 11,304,240
Shareholders’ equity    
Common shares, no par value per share – unlimited shares authorized; 22,716,766 and 15,795,798 shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively 33,086,067 27,142,762
Obligation to issue shares 97,837
Additional paid-in-capital 11,478,156 16,816,695
Accumulated deficit (37,021,119) (32,774,094)
Accumulated other comprehensive income (331,705) (642,710)
Total shareholders’ equity 7,309,236 10,542,653
Total liabilities and shareholders’ equity $ 18,227,454 $ 21,846,893