SHARE CAPITAL (Tables)
|
9 Months Ended |
Sep. 30, 2022 |
|---|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
|
| Schedule of stock options activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
Options Outstanding |
|
|
|
|
Weighted |
|
Weighted |
|
|
|
|
|
|
|
Average |
|
Average |
|
|
|
|
|
Number of |
|
Exercise |
|
Remaining |
|
Aggregate |
|
|
Shares Subject |
|
Price Per |
|
Contractual |
|
Intrinsic Value |
|
|
to Options |
|
Share |
|
Life (in years) |
|
(in thousands) |
Balance at December 31, 2021 |
|
1,204,233 |
|
$ |
5.56 |
|
3.6 |
|
|
|
Options granted |
|
130,000 |
|
$ |
5.16 |
|
|
|
|
|
Options exercised |
|
(800) |
|
$ |
5.04 |
|
|
|
|
|
Options canceled / expired |
|
(103,633) |
|
$ |
5.45 |
|
|
|
|
|
Balance at September 30, 2022 |
|
1,229,800 |
|
$ |
4.98 |
|
3.0 |
|
$ |
78 |
Vested and exercisable at September 30, 2022 |
|
882,542 |
|
$ |
5.14 |
|
2.3 |
|
$ |
78 |
|
| Schedule of stock options outstanding and exercisable |
|
|
|
|
|
|
|
|
|
|
|
Options Outstanding |
|
Options Exercisable |
|
|
Weighted |
|
|
|
|
|
|
|
|
Average |
|
Weighted |
|
|
|
Weighted |
|
|
Remaining |
|
Average |
|
|
|
Average |
Number of |
|
Contractual |
|
Exercise Price |
|
Number |
|
Exercise Price |
Outstanding |
|
Life (in years) |
|
Per Share |
|
Exercisable |
|
Per Share |
200,000 |
|
2.9 |
|
$ |
0.25 |
|
200,000 |
|
$ |
0.25 |
12,000 |
|
0.1 |
|
$ |
14.00 |
|
12,000 |
|
$ |
14.00 |
15,000 |
|
5.3 |
|
$ |
9.00 |
|
15,000 |
|
$ |
9.00 |
85,000 |
|
1.0 |
|
$ |
9.00 |
|
85,000 |
|
$ |
9.00 |
145,800 |
|
1.3 |
|
$ |
7.80 |
|
145,800 |
|
$ |
7.80 |
73,900 |
|
2.0 |
|
$ |
6.40 |
|
64,047 |
|
$ |
6.40 |
83,000 |
|
3.2 |
|
$ |
4.85 |
|
49,800 |
|
$ |
4.85 |
278,100 |
|
3.3 |
|
$ |
5.30 |
|
166,860 |
|
$ |
5.30 |
30,000 |
|
3.5 |
|
$ |
5.60 |
|
14,000 |
|
$ |
5.60 |
177,000 |
|
4.0 |
|
$ |
7.65 |
|
86,702 |
|
$ |
7.65 |
130,000 |
|
4.4 |
|
$ |
5.16 |
|
43,333 |
|
$ |
5.16 |
1,229,800 |
|
3.0 |
|
$ |
4.98 |
|
882,542 |
|
$ |
5.14 |
|
| Schedule of assumptions were used to determine fair value of the awards |
|
|
|
|
|
|
|
|
Nine Months Ended September 30, |
|
|
|
2022 |
|
2021 |
|
Expected life (in years) |
|
5.0 |
|
5.0 |
|
Risk-free interest rate |
|
1.7 |
% |
0.4 |
% |
Dividend yield |
|
— |
% |
— |
% |
Expected volatility |
|
132 |
% |
91 |
% |
|
| Schedule of changes in stock option liability |
Changes in the Company’s stock option liability for the nine months ended September 30, 2022, was as follows (stated in thousands):
|
|
|
|
Balance at December 31, 2021 |
|
$ |
25 |
Gain on revaluation |
|
|
25 |
Balance at September 30, 2022 |
|
$ |
— |
|
| Schedule of warrants |
|
|
|
|
|
Number of Warrants outstanding |
Convertible debt, warrants issued (Note 5) |
|
380,874 |
Debenture, warrants issued (Note 5) |
|
275,000 |
July 2020 private placement, warrants issued (1) |
|
12,592 |
December 2020 equity financing warrants issued (1) |
|
3,271,540 |
Total warrant outstanding |
|
3,940,006 |
|
| Consultants |
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
|
| Schedule of assumptions were used to determine fair value of the awards |
|
|
|
|
|
|
|
|
|
As of September 30, |
|
|
As of December 31, |
|
|
|
2022 |
|
|
2021 |
|
Risk free rate of return |
|
2.8 |
% |
|
0.4 |
% |
Expected life |
|
0.1 |
years |
|
1.8 |
years |
Expected volatility |
|
99 |
% |
|
186 |
% |
Expected dividend per share |
|
nil |
|
|
nil |
|
|