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, 2023
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss for the period $ (1,720,053) $ (3,281,286)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 168,760 3,527
Share based compensation 175,979 157,982
Shares issued for consulting services 27,735 88,071
Shares issued for compensation and bonuses 105,512 97,121
Amortization of debt issuance costs 1,738,825
Change in fair value of derivative liabilities (3,374,032) 457,042
Loss on debt conversion 419,703
Write-off of deposit 12,000
Changes in operating assets and liabilities:    
Other receivables 22,621 9,718
Prepaid expenses and other current assets 65,810 (174,569)
Accounts payable and accrued liabilities (294,655) (233,966)
Right-of-use asset 43,784 56,028
Lease liabilities (39,862) (50,322)
Net cash used in operating activities (2,647,873) (2,870,654)
CASH FLOWS FROM INVESTING ACTIVITIES    
Payment towards acquisition of intangibles (500,000)
Net cash used in investing activities (500,000)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from debentures – net of discount 4,615,385
Repayment of convertible debentures (1,180,950)
Financing costs of debentures (325,962)
Net cash provided by financing activities 3,108,473
Effect of exchange rate changes on cash and cash equivalent 2,130 (26,515)
Change in cash 462,730 (3,397,169)
Cash, beginning of period 2,269,320 7,775,290
Cash, end of period 2,732,050 4,378,121
Supplemental cash flow information:    
Cash paid during the period for interest 133,645
Supplemental disclosure of non-cash investing and financing transactions    
Shares issued for conversion of convertible debt 1,048,573
Reclassified accrued construction in progress fees 39,875
Initial operating lease liability recognized under Topic 842 1,776,599
Initial lease right-of-use asset recognized under Topic 842 1,837,782
Unpaid amount related to intangible assets included in accrued expenses $ 50,000