Share based compensation (Tables)
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12 Months Ended |
Dec. 31, 2025 |
| Share based compensation |
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| Stock Based Compensation Expense |
| | For the years ended December 31, | | | | 2025 | | | 2024 | | | 2023 | | Stock Option Expense | | $ | 205,859 | | | $ | 118,849 | | | $ | 92,500 | | Deferred Share Units | | | 155,000 | | | | 15,000 | | | | - | | Compensation Expense (Note 16) | | | - | | | | 52,634 | | | | 55,821 | | Stock-based compensation expense in Contributed Capital | | | 360,859 | | | | 186,483 | | | | 148,321 | | | | | | | | | | | | | | | Employee Share Purchase Plan | | | 43,494 | | | | 41,619 | | | | 30,508 | | Restricted Stock Units | | | 298,527 | | | | 40,632 | | | | 62,442 | | Total stock-based compensation expense | | | 702,880 | | | | 268,734 | | | | 241,271 | |
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| Stock Options Outstanding |
Exercise price per share | # of options outstanding | # of options exercisable | Average remaining life (in years) | $0.200 | 166,200 | 166,200 | 2.4 | $0.203 | 1,400,000 | - | 4.2 | $0.216 | 1,553,334 | 440,000 | 2.0 | $0.252 | 78,850 | 78,850 | 2.7 | $0.259 | 100,000 | 33,333 | 2.7 | $0.260 | 52,650 | 52,650 | 2.0 | $0.264 | 177,200 | 177,200 | 2.0 | $0.309 | 4,350,000 | 50,000 | 5.0 | | 7,878,234 | 998,233 | 4.0 |
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| Stock Option Activity |
| | For the years ended December 31, | | | | 2025 | | | 2024 | | | | | | | weighted | | | | | | Weighted | | | | # of stock | | | average | | | # of stock | | | Average | | | | Options | | | exercise price | | | Options | | | exercise price | | Options outstanding, start of the year | | | 2,647,820 | | | | $0.30 | | | | 2,927,820 | | | | $0.32 | | Granted | | | 5,750,000 | | | | $0.28 | | | | - | | | | $- | | Exercised | | | (310,799 | ) | | | $(0.21 | ) | | | - | | | | $- | | Forfeited | | | - | | | | $- | | | | (180,000 | ) | | | $(0.22 | ) | Expired | | | (208,787 | ) | | | $(0.48 | ) | | | (100,000 | ) | | | $(0.52 | ) | Options outstanding, end of the year | | | 7,878,234 | | | | $0.27 | | | | 2,647,820 | | | | $0.24 | | Options exercisable, end of the year | | | 998,233 | | | | $0.23 | | | | 777,820 | | | | $0.30 | |
| | For the year ended December 31, | | | | 2023 | | | | | | | Weighted | | | | # of stock | | | Average | | | | Options | | | exercise price | | Options outstanding, start of the year | | | 461,320 | | | | $0.51 | | Granted | | | 2,716,500 | | | | $0.22 | | Forfeited | | | (100,000 | ) | | | $(0.22 | ) | Expired | | | (150,000 | ) | | | $(0.59 | ) | Options outstanding, end of the year | | | 2,927,820 | | | | $0.25 | | Options exercisable, end of the year | | | 877,820 | | | | $0.32 | |
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| Weighted Average Assumptions |
Vesting Target | Vested | 1/3 vest upon the collection of US$6.5 million | Yes | 1/3 vest upon the collection of the next US$7.0 million | No | 1/3 vest upon the collection of an additional US$7.5 million | No |
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| Deferred Stock Unit Activity |
For the year ended | | 2025 | | | 2024 | | | 2023 | | Expected dividends paid per common share | | Nil | | | | - | | | Nil | | Expected life in years | | | 5.0 | | | | - | | | | 5.0 | | Weighted average expected volatility in the price of common shares | | | 115 | % | | | - | | | | 79 | % | Weighted average risk-free interest rate | | | 3.16 | % | | | - | | | | 3.32 | % | Weighted average fair market value per share at grant date | | | $0.23 | | | | $- | | | | $0.22 | | Forfeiture rate | | | 11.5 | % | | | - | | | | 18.5 | % |
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| Restricted Stock Unit Activity |
| | For the years ended December 31, | | Opening balance | | 2025 | | | 2024 | | | 2023 | | Opening balance | | | 120,226 | | | | 37,354 | | | | 37,354 | | Granted | | | 404,927 | | | | 82,872 | | | | - | | Closing balance | | | 525,153 | | | | 120,226 | | | | 37,354 | |
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| RSUs Outstanding |
| | For the years ended December 31, | | | 2025 | 2024 | | # of RSUs | FV/Unit | # of RSUs | FV/Unit | RSUs outstanding, start of the year | 915,000 | $0.16 | - | - | Granted | 1,875,000 | $0.20 | 1,035,000 | $0.14 | Common shares issued | (194,206) | ($0.20) | - | - | Payroll withholdings settled in cash | (110,796) | ($0.20) | - | - | Forfeited | - | - | (120,000) | ($0.14) | RSUs outstanding, end of the year | 2,484,998 | $0.35 | 915,000 | $0.16 |
| | For the year ended December 31, | | | 2023 | | | | # of RSUs | | | FV/Unit | | RSUs outstanding, start of the year | | | 348,334 | | | | $0.21 | | Granted | | | - | | | | - | | Common shares issued | | | (256,619 | ) | | | $(0.26 | ) | Payroll withholdings settled in cash | | | (91,715 | ) | | | $(0.23 | ) | RSUs outstanding, end of the year | | | - | | | | - | |
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| Employee Stock Purchase Plan |
| | 2025 | | | 2024 | | | | # of shares | | | $ amount | | | # of shares | | | $ amount | | Purchased by employees | | | 132,904 | | | $ | 43,495 | | | | 234,974 | | | $ | 41,620 | | Matched by the Company | | | 132,904 | | | | 43,494 | | | | 234,973 | | | | 41,619 | | Total Common Shares issued | | | 265,808 | | | | 86,989 | | | | 469,947 | | | | 83,239 | |
| | For the year ended December 31, | | | | 2023 | | | | # of shares | | | $ amount | | Purchased by employees | | | 168,515 | | | $ | 36,246 | | Matched by the Company | | | 140,994 | | | | 30,509 | | Total Common Shares issued | | | 309,509 | | | | 66,755 | |
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