Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.22.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2021
Dec. 31, 2020
Current    
Cash $ 7,775,290 $ 653,410
Other receivables 32,326 8,973
Prepaid expenses and other current assets 309,040 213,038
Total current assets 8,116,656 875,421
Non-current    
Property and equipment, net 40,971 28,443
Intangible asset 1,477,237
Lease deposit, non-current 50,608
Deferred IPO costs 390,932
Construction in progress 2,079,914 2,071,093
Total assets 11,765,386 3,365,889
Current    
Accounts payable and accrued liabilities 1,532,312 1,930,988
Contingent consideration payable 753,727
Total current liabilities 2,286,039 1,930,988
Non-current    
Deferred rent 12,954
Warrants liability 1,418,964
Long term loan 47,326 31,417
Total liabilities 3,765,283 1,962,405
Commitments and contingencies
Shareholders’ equity    
Preferred Shares, no par value per share - unlimited shares authorized; nil and 2,258,826 shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively [1] 6,717,873
Common shares, no par value per share - unlimited shares authorized; 15,057,859 and 8,441,617 shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively [1] 25,637,543 5,696,050
Additional paid-in-capital 2,203,343 1,297,566
Obligation to issue shares 93,295 94,885
Accumulated deficit (19,900,992) (12,521,944)
Accumulated other comprehensive income (loss) (33,086) 119,054
Total shareholders’ equity 8,000,103 1,403,484
Total liabilities and shareholders’ equity $ 11,765,386 $ 3,365,889
[1] reflects the 1:4.75 reverse stock split effected on November 29, 2020.