Share based compensation (Tables)

12 Months Ended

Dec. 31, 2022

Share based compensation

Stock Based Compensation Expense

For the years ended December 31,
	2022		2021		2020
Stock Option Expense	$	22,552	$	26,250	$	34,223
Deferred Share Units		-		-		15,000
Restricted Stock Units		153,343		154,715		111,060
Employee Share Purchase Plan		39,389		106,935		8,133
Total stock based compensation expense		215,284		287,900		168,416

Stock Options Outstanding

Exercise price per share	# of options outstanding		# of options exercisable		Average remaining life (in years)
$0.17		69,200		69,200		4.9
$0.44		21,360		21,360		3.5
$0.51		16,000		16,000		2.7
$0.52		100,000		100,000		1.5
$0.55		30,000		30,000		2.1
$0.59		150,000		150,000		0.8
$0.62		18,050		18,050		4.0
$0.68		14,750		14,750		3.7
$0.68		17,500		17,500		4.5
$0.72		24,460		24,460		4.4
		461,320		461,320		2.4

Stock Option Activity

For the years ended December 31,
	2022						2021
				weighted						Weighted
	# of stock			average			# of stock			Average
	Options			exercise price			Options			exercise price
Options outstanding, start of the year		358,660		$	0.56			421,000		$	0.83
Granted		134,060		$	0.40			62,660		$	0.56
Expired		-			-			(125,000	)	$	(1.48	)
Cancelled		(31,400	)	$	(0.51	)
Options outstanding, end of the year		461,320		$	0.51			358,660		$	0.56
Options exercisable, end of the year		461,320		$	0.51			358,660		$	0.56

For the year ended December 31,
	2020
				Weighted
	# of stock			Average
	Options			exercise price
Options outstanding, start of the year		1,169,500		$	1.48
Granted		46,000		$	0.54
Expired		(794,500	)	$	(1.77	)
Options outstanding, end of the year		421,000		$	0.83
Options exercisable, end of the year		421,000		$	0.83

Weighted Average Assumptions

For the year ended	2022		2021		2020
Expected dividends paid per common share	Nil		Nil		Nil
Expected life in years		5.0		5.0		5.0
Weighted average expected volatility in the price of common shares	75%		108%		138%
Weighted average risk free interest rate	3.05%		0.38%		1.12%
Weighted average fair market value per share at grant date	$	0.40	$	0.56	$	0.54

Deferred Stock Unit Activity

	For the years ended December 31,
Opening balance	2022		2021		2020
Opening balance		37,354		37,354		-
Granted		-		-		37,354
Closing balance		37,354		37,354		37,354

Restricted Stock Unit Activity

For the years ended December 31,
	2022						2021
	# of RSUs			FV/Unit			# of RSUs			FV/Unit
RSUs outstanding, start of the year		696,666		$	0.61			1,200,000		$	0.79
Granted		-			-			-			-
Common shares issued		(212,304	)	$	(0.58	)		(208,370	)	$	(0.55	)
Payroll withholdings settled in cash		(136,028	)	$	(0.58	)		(139,964	)	$	(0.55	)
Forfeited		-			-			(155,000	)	$	(0.79	)
RSUs outstanding, end of the year		348,334		$	0.21			696,666		$	0.61

	For the year ended December 31,
	2020
	# of RSUs		FV/Unit
RSUs outstanding, start of the year		-		-
Granted		1,200,000	$	0.45
RSUs outstanding, end of the year		1,200,000	$	0.79

Employee Stock Purchase Plan

	For the years ended December 31,
	2022				2021
	# of shares		$ amount		# of shares		$ amount
Purchased by employees		105,221	$	49,738		127,790	$	69,260
Matched by the Company		83,412		39,389		102,641		55,733
Bonus match by the Company		-		-		74,119		48,030
Total Common Shares issued		188,633		89,127		304,550		173,023

For the year ended December 31,
	2020
	# of shares		$ amount
Purchased by employees		16,686	$	7,592
Matched by the Company		14,213		6,467
Total Common Shares issued		30,899		14,059