Related party transactions

12 Months Ended

Dec. 31, 2023

Related Party Transactions [Abstract]

Related party transactions

15. Related party transactions:

As at and for the year ended December 31, 2023, the Company has the following related party transactions:

	2023		2022		2021
Directors fees	$	7,505	$	8,970	$	8,000
Salaries, wages, consultants and benefits		667,229		659,558		612,492
Selling and marketing		70,439		126,920		77,906
Stock-based compensation (Note 10)		188,961		276,207		237,348
Software technology development (Note 8)		248,780		246,016		214,843
Closing balance for the year	$	1,182,914	$	1,317,671	$	1,150,589

The Company has liabilities of $79,852 (2022 - $80,874) as at December 31, 2023, to current directors, officers and companies owned by the current directors and officers of the Company for employment, director and consulting fees.

During the year ended December 31, 2023, the Company granted 400,000 options with an exercise price of CAD$0.30 ($0.22) per share to current directors and officers of the Company. Subsequent to the year ended December 31, 2023, the Company granted 1,056,250 options with an exercise price of CAD$0.20 ($0.14) to current directors and officers of the Company.

During the year ended December 31, 2022, the Company granted 900,000 options with an exercise price of CAD$0.50 ($0.39) per share to current directors and officers of the Company.

During the year ended December 31, 2021, the Company granted the following options to related parties:

a) 400,000 options with an exercise price of CAD$0.50 ($0.39) per share

b) 400,000 options with an exercise price of CAD$1.02 ($0.80) per share

The related party transactions are in the normal course of operations and were measured at the exchange amount, which is the amount of consideration established and agreed to by the related parties.