Note 11 - Related Parties

3 Months Ended

Mar. 31, 2024

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

11. RELATED PARTIES

Related parties include the Board of Directors, officers, close family members and enterprises that are controlled by these individuals as well as certain persons performing similar functions.

The Company defines its key management as the Board of Directors, Chief Executive Officer, President, and Chief Financial Officer. Remuneration of directors and key management personnel of the Company for the period ended March 31, 2024 and 2023 was as follows:

	2024		2023
Consulting	$	30,000	$	45,000
Selling general and administrative		14,196		15,369
Share-based compensation to directors and officers		-		1,442
	$	44,196	$	61,811

The Company for the periods ended March 31, 2024 and 2023 reimbursed a related party $14,196 and $15,369, respectively, for selling, general and administrative expenses paid on behalf of the Company. The Company incurred $30,000 (2023 - $45,000) of consulting fees accrued to a company controlled by a director of the Company for the periods ended March 31, 2024 and 2023.

The Company also recorded share-based compensation of $Nil (2023 - $1,442) for options vested to related parties during the periods ended March 31, 2024 and 2023.