Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Interim Statements of Cash Flows (Unaudited)

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Condensed Consolidated Interim Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss for the period $ (3,327,700) $ (1,720,053)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 166,998 168,760
Share based compensation (15,969) 175,979
Shares issued for consulting services 25,000 27,735
Shares issued for compensation and bonuses 105,512
Amortization of debt issuance costs 1,238,955 1,738,825
Change in fair value of derivative liabilities 23,769 (3,374,032)
Loss on debt conversion 272,732 419,703
Loss on debt extinguishment 410,433
Loss on disposal of fixed assets 4,252
Write-off of deposit 12,000
Changes in operating assets and liabilities:    
Other receivables (16,307) 22,621
Prepaid expenses and other current assets (122,405) 65,810
Inventories 38,470
Accounts payable and accrued liabilities (4,180) (294,655)
Lease deposit asset (18,382)
Contract liabilities 15,000
Right-of-use asset 43,784
Lease liabilities (39,862)
Net cash used in operating activities (1,309,334) (2,647,873)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from debentures – net of discount 1,000,000 4,615,385
Repayment of convertible debentures (668,568) (1,180,950)
Financing costs of debentures (50,000) (325,962)
Net cash provided by financing activities 281,432 3,108,473
Effect of exchange rate changes on cash and cash equivalent 12,715 2,130
Change in cash (1,015,187) 462,730
Cash, beginning of period 3,878,578 2,269,320
Cash, end of period 2,863,391 2,732,050
Supplemental cash flow information:    
Cash paid during the period for interest 32,370 133,645
Supplemental disclosure of non-cash investing and financing transactions    
Initial fair value of debenture warrants (“Fifth Tranche Warrants”) 564,000
Initial fair value of conversion feature of debentures (“Fifth Tranche Debentures”) 359,000
Shares issued for conversion of convertible debt 3,973,437 1,048,573
Reclassified accrued construction in progress fees $ 39,875