Annual reports filed by certain Canadian issuers pursuant to Section 15(d) and Rule 15d-4

Consolidated Statements of Cash Flows

v3.21.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Operating activities:    
Net and comprehensive loss $ (24,184,657) $ (41,907,079)
Items not involving cash:    
Amortization 236,842 32,555
Impairment of patent rights 45,981
Non-cash interest on lease 36,274
Stock based compensation 1,097,358 1,651,119
Warrant liability-fair value adjustment 27,855,678 (19,800,645)
Warrant liability-foreign exchange adjustment 95,631 17,687
Non-cash issue costs 764,132 744,501
Non-cash settlements (2,262,052)
Non-cash note payable expenses and accrued interest 385,496
Changes in non-cash working capital items:    
Amounts receivable, prepaid expenses and deposits (544,429) 8,336,486
Accounts payable and accrued liabilities (4,371,371) 4,965,008
Cash used in operating activities (845,117) (45,960,368)
Financing activities:    
Net proceeds from issuance of common shares and warrants [1] 24,688,851 35,766,754
Note payable 1,500,000
Repayment of lease liabilities (90,053) (5,100)
Cash provided by financing activities 26,098,798 35,761,654
Investing Activities:    
Purchase of property, plant and equipment (280,410)
Cost of patents (318,958) (458,037)
Cash used in investing activities (599,368) (458,037)
Increase (decrease) in cash and cash equivalents 24,654,313 (10,656,751)
Cash and cash equivalents, beginning of the period 814,492 11,471,243
Cash and cash equivalents, end of the period 25,468,805 814,492
Cash and cash equivalents comprise:    
Cash 1,302,037 141,768
Cash equivalents 24,166,768 672,724
Cash and cash equivalents, end of the period $ 25,468,805 $ 814,492
[1] Includes net proceeds from the issuance of common share equivalents (see note 9 a)