Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Interim Statements of Cash Flows (Unaudited)

v3.23.3
Condensed Consolidated Interim Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss for the period $ (7,740,078) $ (10,120,501)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 512,695 15,706
Share based compensation 211,243 282,828
Shares issued for consulting services 80,885 708,162
Shares issued for compensation 355,404 432,054
Loss (gain) on debt conversion 541,730 (93,973)
Amortization of debt issuance costs 5,873,396 1,515,296
Change in fair value of derivative liabilities (6,159,067) (1,683,489)
Write-off of deposit 12,000
Changes in operating assets and liabilities:    
Other receivables (25,794) (14,411)
Prepaid expenses and other current assets 344,309 (60,914)
Inventories (38,167)
Advance (225,000)
Accounts payable and accrued liabilities 783,725 (35,791)
Right-of-use asset 134,688 249,038
Lease liabilities (122,894) (255,731)
Contract liabilities 23,333
Net cash used in operating activities (5,437,592) (9,061,726)
CASH FLOWS FROM INVESTING ACTIVITIES    
Payment towards acquisition of intangibles (500,000)
Acquisition of equipment and leasehold improvements (93,259)
Deposit for purchase of land 20,000
Construction in progress (50,000)
Net cash used in investing activities (623,259)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from common shares issued for cash 1,342,915
Share issuance costs paid (153,220)
Proceeds from debentures – net of discount 4,615,385 12,750,000
Repayment of convertible debentures (1,741,950) (1,122,000)
Financing costs of debentures (325,962) (1,634,894)
Net cash provided by financing activities 3,737,168 9,993,106
Effect of exchange rate changes on cash and cash equivalent 17,669 (214,383)
Change in cash (1,682,755) 93,738
Cash, beginning of period 2,269,320 7,775,290
Cash, end of period 586,565 7,869,028
Supplemental cash flow information:    
Cash paid during the period for interest 171,818 173,376
Supplemental disclosure of non-cash investing and financing transactions    
Shares issued for conversion of convertible debt 4,756,872 131,532
Reclassified accrued construction in progress fees 39,875
Initial fair value of debenture warrants (“Second Tranche Warrants”) 2,378,000
Initial fair value of conversion feature of debentures (“Second Tranche Debentures”) 1,599,000
Fair value of debenture warrants (“First Tranche Warrants”) 4,342,877
Fair value of conversion feature of debentures (“First Tranche Debentures”) 2,249,000
Prefunded warrants issued related to intangible assets 8,996,586
Prefunded warrants issued related to land deposit 2,085,960
Initial operating lease liability recognized under Topic 842 1,776,599
Initial lease right-of-use asset recognized under Topic 842 $ 1,837,782