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Stockholders’ equity (Tables)
3 Months Ended
Mar. 31, 2022
Equity [Abstract]  
Schedule of Share- based Payment Arrangement, Warrant Activity

A summary of warrant activity for the quarter ended March 31, 2022 are as follows:

 

   Number of options   Exercise price   Expiry date 
Outstanding, December 31, 2020   -   $-      
                
Granted   230,000      CAD$0.98       April 3, 2023   
                
Outstanding December 31, 2021   230,000      CAD$0.98      
                
Granted   -    -    - 
                
Outstanding March 31, 2022   230,000      CAD$0.98      

Schedule of Fair Value of Warrants Assumptions

 

   March 31, 2022   December 31, 2021 
Exercise price   CAD$0.98    CAD$0.98 
Stock price   CAD$0.48    CAD$0.59 
Expected term   1 years    1.25 years 
Expected dividend yield   -    - 
Expected stock price volatility   69.93%   88.33%
Risk-free interest rate   2.37%   1.18%
Schedule of Share-based Payment Arrangement, Option, Activity

  

Number of

options

  

Weighted average

exercise price

 
Outstanding December 31, 2020   5,875,750   $0.39 
           
Granted   2,675,000    0.60 
Exercised   (70,000)   (0.45)
Expired   (570,000)   (0.43)
Cancelled   (1,040,600)   (0.42)
           
Outstanding, December 31, 2021   6,870,150   $0.48 
           
Granted   2,550,000    0.40 
Cancelled   (210,000)   (0.56)
           
Outstanding March 31, 2022   9,210,150   $0.46 
Schedule of Share-based Payment Arrangement, Option, Exercise Price Range

The following table summarizes information concerning outstanding and exercisable stock options at March 31, 2022:

 

Exercise
prices per share
  Number outstanding   Number exercisable   Expiry date
CAD$0.45   2,030,400    525,360   June 30, 2025
CAD$0.50   859,600    277,400   February 1, 2026
CAD$0.50   2,520,000    100,800   February 1, 2027
CAD$0.54   506,150    506,150   November 8, 2022
CAD$0.54   713,000    713,000   June 4, 2023
CAD$0.66   200,000    32,000   July 12, 2026
US$0.50   1,275,000    1,275,000   June 4, 2023
CAD$1.02   1,106,000    248,000   April 6, 2026
    9,210,150    3,677,710