Note
|
September 30, 2020 |
December 31, 2019
|
|||||||||
Assets
|
|||||||||||
Current Assets:
|
|||||||||||
Cash and cash equivalents
|
$
|
24,675,913
|
$
|
814,492
|
|||||||
Amounts receivable
|
51,574
|
84,097
|
|||||||||
Deposits
|
10
|
481,400
|
481,400
|
||||||||
Prepaid expense
|
730,923
|
369,453
|
|||||||||
Total Current Assets
|
$
|
25,939,810
|
$
|
1,749,442
|
|||||||
Property, plant and equipment
|
3
|
75,591
|
|||||||||
Right of use assets - Leases
|
4
|
413,262
|
30,394
|
||||||||
Patent rights
|
5
|
1,752,367
|
1,601,745
|
||||||||
Total Assets
|
$
|
28,181,030
|
$
|
3,381,581
|
|||||||
Liabilities
|
|||||||||||
Current Liabilities:
|
|||||||||||
Accounts payable and accrued liabilities
|
6
|
$
|
7,638,801
|
$
|
11,412,896
|
||||||
Current portion of lease liability
|
4
|
90,710
|
21,071
|
||||||||
Note payable
|
8
|
1,686,730
|
-
|
||||||||
Warrant liability
|
7
|
14,698,329
|
3,621,444
|
||||||||
Total Current Liabilities
|
$
|
24,114,570
|
$
|
15,055,411
|
|||||||
Long-term lease liability
|
4
|
$ |
347,286
|
8,001
|
|||||||
Total Liabilities
|
$
|
24,461,856
|
$
|
15,063,412
|
|||||||
Shareholders' Equity (Deficiency)
|
|||||||||||
Share Capital
|
9
|
$
|
213,091,521
|
$
|
194,859,415
|
||||||
Contributed Surplus
|
9,024,301
|
8,303,527
|
|||||||||
Deficit
|
(218,396,648
|
)
|
(214,844,773
|
)
|
|||||||
Shareholders' Equity (Deficiency)
|
$
|
3,719,174
|
$
|
(11,681,831
|
)
|
||||||
Total Liabilities and Deficiency
|
$
|
28,181,030
|
$
|
3,381,581
|
"signed"
|
"signed"
|
||
Paul Cataford
|
David McNally
|
||
Director
|
Chairman and CEO
|
Three Months Ended
|
Nine Months Ended
|
Three Months Ended
|
Nine Months Ended
|
||||||||||||||||
Note
|
September 30, 2020
|
September 30, 2020
|
September 30, 2019
|
September 30, 2019
|
|||||||||||||||
Revenue
|
$
|
-
|
$
|
10,000,000
|
$
|
-
|
$
|
-
|
|||||||||||
Expenses
|
|||||||||||||||||||
Amortization
|
$
|
39,383
|
$
|
88,953
|
$
|
7,300
|
$
|
20,766
|
|||||||||||
Consulting fees
|
122,453
|
318,322
|
317,771
|
1,038,268
|
|||||||||||||||
Stock based compensation
|
9b
|
|
286,111
|
720,774
|
412,956
|
1,404,364
|
|||||||||||||
Insurance
|
224,994
|
470,571
|
122,588
|
357,200
|
|||||||||||||||
Management salaries and fees
|
524,015
|
1,670,887
|
394,978
|
1,793,444
|
|||||||||||||||
Marketing and investor relations
|
63,598
|
81,085
|
72,922
|
281,598
|
|||||||||||||||
Office and general
|
106,897
|
292,739
|
336,609
|
531,016
|
|||||||||||||||
Professional fees
|
234,243
|
1,624,186
|
190,800
|
597,645
|
|||||||||||||||
Rent
|
6,948
|
20,149
|
17,595
|
46,346
|
|||||||||||||||
Research and development
|
2,265,975
|
2,433,557
|
16,570,480
|
49,339,766
|
|||||||||||||||
Travel
|
1,883
|
14,643
|
95,358
|
243,353
|
|||||||||||||||
Interest charges
|
591,702
|
1,056,941
|
-
|
-
|
|||||||||||||||
Foreign exchange loss (gain)
|
55,862
|
6,939
|
(68,045
|
)
|
(26,998
|
)
|
|||||||||||||
$
|
4,524,064
|
$
|
8,799,746
|
$
|
18,471,312
|
$
|
55,626,768
|
||||||||||||
Net Earnings (Loss) from Operations
|
(4,524,064
|
)
|
1,200,254
|
(18,471,312
|
)
|
(55,626,768
|
)
|
||||||||||||
Finance Income (Cost)
|
|||||||||||||||||||
Interest
|
$
|
11,362
|
$
|
17,936
|
$
|
19,314
|
113,532
|
||||||||||||
Gain on settlement
|
6
|
-
|
1,839,626
|
-
|
-
|
||||||||||||||
Gain (loss) on change in fair value of warrants
|
7
|
2,872,069
|
(4,793,375
|
)
|
16,887,802
|
13,021,129
|
|||||||||||||
Warrant liability issue cost
|
-
|
(1,816,316
|
)
|
-
|
(1,827,835
|
)
|
|||||||||||||
$
|
2,883,431
|
$
|
(4,752,129
|
)
|
$
|
16,907,116
|
$
|
11,306,826
|
|||||||||||
Net and Comprehensive Loss for the Period
|
$
|
1,640,633
|
$
|
3,551,875
|
$
|
1,564,196
|
$
|
44,319,942
|
|||||||||||
Basic and Diluted Loss per Share
|
$
|
0.02
|
$
|
0.06
|
$
|
0.05
|
$
|
1.54
|
|||||||||||
Weighted Average Number of Common Shares
|
|||||||||||||||||||
Basic and Diluted
|
80,462,610
|
61,901,265
|
31,990,989
|
28,807,958
|
Note
|
Share Capital
Number
|
Share Capital
Amount
|
Contributed
Surplus
|
Deficit
|
Total Equity
(Deficiency)
|
||||||||||||||||||
Balance - December 31, 2018
|
21,675,849
|
$
|
170,502,394
|
$
|
6,652,409
|
$
|
(172,937,694
|
)
|
$
|
4,217,109
|
|||||||||||||
Issued pursuant to agency agreement
|
9a
|
|
10,873,044
|
16,717,131
|
16,717,131
|
||||||||||||||||||
Share issue expense
|
(1,915,612
|
)
|
(1,915,612
|
)
|
|||||||||||||||||||
Warrants exercised during the period
|
9a
|
|
1,018,506
|
7,002,043
|
7,002,043
|
||||||||||||||||||
Stock based compensation
|
9b
|
|
1,404,363
|
1,404,363
|
|||||||||||||||||||
Net and comprehensive loss
|
(44,319,942
|
)
|
(44,319,942
|
)
|
|||||||||||||||||||
Balance - September 30, 2019
|
33,567,399
|
$
|
192,305,956
|
$
|
8,056,772
|
$
|
(217,257,636
|
)
|
$
|
(16,894,908
|
)
|
||||||||||||
Balance - December 31, 2019
|
39,907,681
|
$
|
194,859,415
|
$
|
8,303,527
|
$
|
(214,844,773
|
)
|
$
|
(11,681,831
|
)
|
||||||||||||
Issued pursuant to agency agreement1
|
9a
|
|
23,923,700
|
12,818,657
|
12,818,657
|
||||||||||||||||||
Share issue expense
|
(487,788
|
)
|
(487,788
|
)
|
|||||||||||||||||||
Common stock equivalents converted
|
9a
|
|
11,500,000
|
1,150
|
1,150
|
||||||||||||||||||
Warrants exercised during the period
|
9a
|
|
6,217,939
|
5,900,087
|
5,900,087
|
||||||||||||||||||
Stock based compensation
|
9b
|
|
720,774
|
720,774
|
|||||||||||||||||||
Net and comprehensive loss
|
(3,551,875
|
)
|
(3,551,875
|
)
|
|||||||||||||||||||
Balance - September 30, 2020
|
81,549,320
|
$
|
213,091,521
|
$
|
9,024,301
|
$
|
(218,396,648
|
)
|
$
|
3,719,174
|
Three Months Ended
|
Nine Months Ended
|
Three Months Ended
|
Nine Months Ended
|
|||||||||||||
September 30, 2020
|
September 30, 2020
|
September 30, 2019
|
September 30, 2019
|
|||||||||||||
Cash provided by (used in):
|
||||||||||||||||
Operating activities:
|
||||||||||||||||
Net and comprehensive loss for the period
|
$
|
(1,640,633
|
)
|
$
|
(3,551,875
|
)
|
$
|
(14,472,866
|
)
|
$
|
(42,755,746
|
)
|
||||
Items not involving cash:
|
||||||||||||||||
Amortization
|
39,383
|
88,953
|
7,291
|
13,466
|
||||||||||||
Stock based compensation
|
286,111
|
720,774
|
740,051
|
991,408
|
||||||||||||
Warrant liability-fair value adjustment
|
(2,872,069
|
)
|
4,793,375
|
(6,609,952
|
)
|
3,866,673
|
||||||||||
Warrant liability-foreign exchange adjustment
|
48,065
|
9,972
|
142,682
|
36,625
|
||||||||||||
Non-cash issue costs
|
-
|
764,132
|
-
|
-
|
||||||||||||
Non-cash settlement included in payables
|
-
|
2,090,200
|
-
|
-
|
||||||||||||
Non-cash note payable expenses and accrued interest
|
32,908
|
186,730
|
-
|
-
|
||||||||||||
Changes in non-cash working capital items:
|
||||||||||||||||
Amounts receivable, prepaid expenses and deposits
|
264,468
|
(328,951
|
)
|
1,294,599
|
(283,330
|
)
|
||||||||||
Accounts payable and accrued liabilities
|
(737,993
|
)
|
(5,613,707
|
)
|
5,736,133
|
5,783,889
|
||||||||||
Cash used in operating activities
|
(4,579,760
|
)
|
(840,397
|
)
|
(13,162,062
|
)
|
(32,347,015
|
)
|
||||||||
Financing activities:
|
||||||||||||||||
Net proceeds from issuance of common shares and warrants1
|
741,225
|
23,490,929
|
(2,997
|
)
|
31,374,911
|
|||||||||||
Proceeds from note payable
|
-
|
1,500,000
|
-
|
-
|
||||||||||||
Repayment of lease liabilities
|
(23,518
|
)
|
(33,761
|
)
|
-
|
-
|
||||||||||
Cash provided by financing activities
|
717,707
|
24,957,168
|
(2,997
|
)
|
31,374,911
|
|||||||||||
Investing Activities:
|
||||||||||||||||
Purchase of property, plant and equipment
|
(79,498
|
)
|
(79,498
|
)
|
-
|
-
|
||||||||||
Additions to patents
|
(72,292
|
)
|
(175,852
|
)
|
(125,198
|
)
|
(178,956
|
)
|
||||||||
Cash used in investing activities
|
(151,790
|
)
|
(255,350
|
)
|
(125,198
|
)
|
(178,956
|
)
|
||||||||
Increase (Decrease) in cash and cash equivalents
|
(4,013,843
|
)
|
23,861,421
|
(13,290,257
|
)
|
(1,151,060
|
)
|
|||||||||
Cash and cash equivalents, beginning of the period
|
28,689,756
|
814,492
|
23,610,440
|
11,471,243
|
||||||||||||
Cash and cash equivalents, end of the period
|
$
|
24,675,913
|
24,675,913
|
$
|
10,320,183
|
$
|
10,320,183
|
|||||||||
Cash and cash equivalents comprise:
|
||||||||||||||||
Cash
|
$
|
20,483
|
20,483
|
$
|
1,392,741
|
$
|
1,392,741
|
|||||||||
Cash equivalents
|
24,655,430
|
24,655,430
|
8,927,442
|
8,927,442
|
||||||||||||
|
$
|
24,675,913
|
24,675,913
|
$
|
10,320,183
|
$
|
10,320,183
|
1.
|
DESCRIPTION OF BUSINESS
|
(a)
|
Statement of Compliance
|
(b)
|
Basis of Measurement
|
(c)
|
Basis of Consolidation
|
(d)
|
Functional and Presentation Currency
|
1.
|
DESCRIPTION OF BUSINESS (continued)
|
(e)
|
Use of Estimates and Judgements
|
(f)
|
COVID-19
|
2.
|
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
|
(a)
|
Revenue Recognition
|
•
|
Revenue from the License Agreement for intellectual property rights and know-how (“Royalty Payment”) is recognized when rights are granted and customer acceptance is established. Compensation received for the
performance of technology transfer services relating to the License Agreement is accounted for separately from the Royalty Payment and will be recognized at the time the service is performed. (see Note 12)
|
•
|
Revenue from the Development Agreement and the allocation of ownership and license rights developed under each milestone is recognized when the rights are granted, and customer acceptance is established.
|
(b)
|
Property, Plant and Equipment
|
|
Computer equipment | 3 years |
|
|
|
|
Furniture and fixtures | 3 years |
|
|
|
|
Leasehold improvements | Remaining term of the lease |
(c)
|
Warrant Liability
|
2.
|
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
|
(d)
|
Fair Value Measurement
|
3.
|
PROPERTY, PLANT AND EQUIPMENT
|
For the nine months ended September 30, 2020
|
Computer equipment
|
Furniture and fixtures
|
Leasehold improvements
|
Total
|
||||||||||||
Cost
|
||||||||||||||||
Balance at December 31, 2019
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
||||||||
Additions during the period
|
46,335
|
16,976
|
16,187
|
79,498
|
||||||||||||
Balance at September 30, 2020
|
46,335
|
16,976
|
16,187
|
79,498
|
||||||||||||
Depreciation and impairment losses
|
||||||||||||||||
Balance at December 31, 2019
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
||||||||
Depreciation in the period
|
(2,853
|
) |
(496
|
) |
(558
|
) |
(3,907
|
) |
||||||||
Balance at September 30, 2020
|
(2,853
|
) |
(496
|
) |
(558
|
) |
(3,907
|
) |
||||||||
Net book value at September 30, 2020
|
$
|
43,482
|
$
|
16,480
|
$
|
15,629
|
$
|
75,591
|
||||||||
Net book value at December 31, 2019
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
4.
|
RIGHT OF USE ASSETS – LEASE
|
For the nine months ended September 30, 2020
|
Cost
|
Accumulated Amortization
|
Net Book
Value
|
|||||||||
Balance at December 31, 2019
|
$
|
34,172
|
$
|
(3,778
|
)
|
$
|
30,394
|
|||||
Additions during the period
|
442,684
|
-
|
442,684
|
|||||||||
Amortization in the period
|
-
|
(59,816
|
)
|
(59,816
|
)
|
|||||||
Balance at September 30, 2020
|
$
|
476,856
|
$
|
(63,594
|
)
|
$
|
413,262
|
For the year ended December 31, 2019
|
Cost
|
Accumulated Amortization
|
Net Book
Value
|
|||||||||
Balance at December 31, 2019
|
$
|
-
|
$
|
-
|
$
|
-
|
||||||
Additions during the year
|
34,172
|
-
|
34,172
|
|||||||||
Amortization in the year
|
-
|
(3,778
|
)
|
(3,778
|
)
|
|||||||
Balance at December 31, 2019
|
$
|
34,172
|
$
|
(3,778
|
)
|
$
|
30,394
|
5.
|
PATENT RIGHTS
|
For the nine months ended September 30, 2020
|
Cost
|
Accumulated Amortization & Impairment Losses
|
Net Book
Value
|
|||||||||
Balance at December 31, 2019
|
$
|
1,856,750
|
$
|
(255,005
|
)
|
$
|
1,601,745
|
|||||
Additions during the period
|
175,852
|
-
|
175,852
|
|||||||||
Amortization in the period
|
-
|
(25,230
|
)
|
(25,230
|
)
|
|||||||
Balance at September 30, 2020
|
$
|
2,032,602
|
$
|
(280,235
|
)
|
$
|
1,752,367
|
For the year ended December 31, 2019
|
Cost
|
Accumulated Amortization & Impairment Losses
|
Net Book
Value
|
|||||||||
Balance at December 31, 2018
|
$
|
1,398,713
|
$
|
(226,228
|
)
|
$
|
1,172,485
|
|||||
Additions during the year
|
458,037
|
-
|
458,037
|
|||||||||
Amortization in the year
|
-
|
(28,777
|
)
|
(28,777
|
)
|
|||||||
Balance at December 31, 2019
|
$
|
1,856,750
|
$
|
(255,005
|
)
|
$
|
1,601,745
|
6.
|
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES
|
7.
|
WARRANT LIABILITY
|
Nine Months Ended
|
Year Ended
|
|||||||||||||||
September 30, 2020
|
December 31, 2019
|
|||||||||||||||
Number of
Warrants
|
Amount
|
Number of
Warrants
|
Amount
|
|||||||||||||
Opening Balance
|
21,203,411
|
$
|
3,621,444
|
13,901,859
|
$
|
11,250,167
|
||||||||||
Issue of warrants expiring March 21, 2024
|
-
|
-
|
8,455,882
|
15,897,059
|
||||||||||||
Issue of warrants expiring March 27, 2025
|
3,500,000
|
475,300
|
-
|
-
|
||||||||||||
Issue of warrants expiring November 6, 2025
|
2,757,252
|
508,200
|
-
|
-
|
||||||||||||
Issue of warrants expiring June 10, 2024
|
9,000,000
|
9,709,200
|
-
|
-
|
||||||||||||
Warrants exercised during the period
|
(6,217,939
|
)
|
(4,419,161
|
)
|
(1,018,506
|
)
|
(3,742,824
|
)
|
||||||||
Warrants expired during the period
|
-
|
-
|
(135,824
|
)
|
-
|
|||||||||||
Foreign exchange adjustment during the period
|
-
|
9,972
|
-
|
17,687
|
||||||||||||
Fair value adjustment during the period
|
-
|
4,793,375
|
-
|
(19,800,645
|
)
|
|||||||||||
Ending Balance
|
30,242,724
|
$
|
14,698,330
|
21,203,411
|
$
|
3,621,444
|
8.
|
NOTE PAYABLE
|
9.
|
SHARE CAPITAL
|
(a) | Authorized: | unlimited number of common shares, no par |
|
|
|
|
Issued: | 81,549,320 (December 31, 2019: 39,907,681) |
9.
|
SHARE CAPITAL (continued)
|
9.
|
SHARE CAPITAL (continued)
|
Grant Date
|
Common shares
issued
|
Value
|
||||||
January 3, 2020
|
500,000
|
$
|
219,600
|
|||||
January 6, 2020
|
500,000
|
229,300
|
||||||
January 8, 2020
|
400,000
|
195,160
|
||||||
January 10, 2020
|
500,000
|
247,550
|
||||||
January 17, 2020
|
600,000
|
303,000
|
||||||
January 23, 2020
|
600,000
|
295,320
|
||||||
February 6, 2020
|
600,000
|
282,000
|
||||||
February 13, 2020
|
708,048
|
300,000
|
||||||
4,408,048
|
$
|
2,071,930
|
9.
|
SHARE CAPITAL (continued)
|
Grant Date
|
Common shares
issued |
Value
|
||||||
August 30, 2019
|
2,417,162
|
$
|
3,000,000
|
|||||
November 8, 2019
|
100,000
|
42,560
|
||||||
November 8, 2019
|
100,000
|
42,560
|
||||||
November 12, 2019
|
100,000
|
42,970
|
||||||
November 12, 2019
|
100,000
|
42,000
|
||||||
November 13, 2019
|
100,000
|
42,970
|
||||||
November 14, 2019
|
300,000
|
128,910
|
||||||
November 15, 2019
|
2,500,000
|
1,074,250
|
||||||
November 19, 2019
|
2,067,282
|
888,311
|
||||||
|
7,784,444
|
$
|
5,304,531
|
(b)
|
Stock Options and Compensation Options
|
9.
|
SHARE CAPITAL (continued)
|
Nine Months Ended September 30, 2020
|
Year Ended December 31, 2019
|
|||||||||||||||
Stock Options - CDN $ denominated
|
Number of
Stock Options
|
Weighted average Exercise Price (CDN)
|
Number of
Stock Options
|
Weighted average Exercise Price (CDN)
|
||||||||||||
Balance beginning
|
860,379
|
$
|
5.89
|
875,433
|
$
|
18.20
|
||||||||||
Granted
|
75,494
|
0.94
|
35,719
|
4.54
|
||||||||||||
Expired / forfeited
|
(40,515
|
)
|
11.56
|
(50,773
|
)
|
31.79
|
||||||||||
Balance ending
|
895,358
|
$
|
5.22
|
860,379
|
$
|
5.89
|
Stock Options - USD $ denominated
|
Number of
Stock Options
|
Weighted average Exercise Price (USD)
|
Number of
Stock Options
|
Weighted average Exercise Price (USD)
|
||||||||||||
Balance beginning
|
854,042
|
$
|
2.65
|
50,349
|
$
|
1.55
|
||||||||||
Granted
|
1,374,291
|
-
|
843,693
|
2.72
|
||||||||||||
Expired / forfeited
|
(761,528
|
)
|
2.20
|
(40,000
|
)
|
3.72
|
||||||||||
Balance ending
|
1,466,805
|
$
|
3.19
|
854,042
|
$
|
2.65
|
||||||||||
Total number of stock options
|
2,362,163
|
1,714,421
|
9.
|
SHARE CAPITAL (continued)
|
Canadian Dollar Denominated Options
|
|||||
Exercise Price
(CDN)
|
Number
Outstanding
|
Weighted average
remaining contractual
life (years)
|
Options
exercisable
|
||
$ 0.66
|
25,765
|
6.33
|
25,765
|
||
$ 0.96
|
27,304
|
7.00
|
27,304
|
||
$ 1.27
|
22,425
|
6.83
|
22,425
|
||
$ 3.28
|
31,498
|
4.92
|
31,498
|
||
$ 4.54
|
735,999
|
3.30
|
469,722
|
||
$ 9.00
|
11,481
|
4.77
|
11,481
|
||
$ 9.69
|
1,105
|
0.02
|
1,105
|
||
$11.70
|
6,667
|
0.19
|
6,667
|
||
$12.00
|
1,948
|
0.18
|
1,948
|
||
$30.00
|
28,260
|
0.90
|
28,260
|
||
$30.60
|
2,096
|
0.23
|
2,096
|
||
$32.40
|
810
|
0.33
|
810
|
||
895,358
|
3.73
|
629,081
|
US Dollar Denominated Options
|
|||||
Exercise Price
(US)
|
Number
Outstanding
|
Weighted average
remaining contractual
life (years)
|
Options
exercisable
|
||
$ 0.73
|
19,568
|
7.00
|
19,568
|
||
$ 0.75
|
4,723
|
7.00
|
4,723
|
||
$ 0.96
|
1,350,000
|
6.83
|
-
|
||
$ 1.55
|
50,349
|
1.22
|
50,349
|
||
$ 2.20
|
2,165
|
1.80
|
2,165
|
||
$ 3.72
|
40,000
|
1.94
|
-
|
||
1,466,805
|
6.49
|
76,805
|
|||
Total
|
2,362,163
|
5.44
|
705,886
|
9.
|
SHARE CAPITAL (continued)
|
2020
|
2019
|
|||
Fair value calculated
|
CDN $0.75
|
USD $0.77
|
USD $1.48
|
|
Share price at grant
|
CDN $0.92
|
USD $0.91
|
USD $2.39
|
|
Exercise price
|
CDN $2.27
|
USD $0.96
|
USD $2.79
|
|
Expected option life
|
3.5 years
|
3.5 years
|
3.5 years
|
|
Risk free interest rate (based on government bonds)
|
0.66%
|
0.27%
|
1.50%
|
|
Expected volatility
|
134.6%
|
152.8%
|
98.02%
|
|
Expected dividends
|
Nil
|
Nil
|
Nil
|
(c)
|
Warrants
|
10.
|
COMMITMENTS
|
11.
|
RELATED PARTY TRANSACTIONS
|
September 30, 2020
|
December 31, 2019
|
|||||||||||||||
Number of
shares
|
%
|
Number of
shares
|
%
|
|||||||||||||
David McNally
|
4,167
|
0.00
|
4,167
|
0.01
|
||||||||||||
Monique Delorme1
|
32,333
|
0.04
|
-
|
-
|
||||||||||||
Perry Genova
|
514
|
0.00
|
-
|
-
|
||||||||||||
Stephen Randall2
|
22,993
|
0.03
|
22,993
|
0.06
|
||||||||||||
John Barker3
|
45,714
|
0.06
|
32,714
|
0.08
|
||||||||||||
Phillip McStotts3
|
10,000
|
0.01
|
-
|
-
|
||||||||||||
John Schellhorn4
|
-
|
-
|
294
|
-
|
||||||||||||
Total
|
115,721
|
0.14
|
60,168
|
0.15
|
||||||||||||
Common Shares Outstanding
|
81,549,320
|
100.00
|
39,907,681
|
100.00
|
1.
|
Monique Delorme was appointed Chief Financial Officer on October 1, 2020.
|
2.
|
Stephen Randall retired as Chief Financial Officer on September 30, 2020. He remains on the board of directors.
|
3.
|
John Barker and Phillip McStotts retired as directors effective September 30, 2020.
|
4.
|
John Schellhorn retired as a director effective June 4, 2020.
|
12.
|
REVENUES
|
13.
|
CAPITAL MANAGEMENT
|
14.
|
SUBSEQUENT EVENTS
|