General form of registration statement for all companies including face-amount certificate companies

SHARE CAPITAL (Tables)

v3.22.4
SHARE CAPITAL (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2022
Dec. 31, 2021
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

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, 2019

 

637,200

$

5.60

 

4.62

 

  

Options granted

 

173,000

$

4.75

Options exercised

 

(10,000)

$

2.50

Options canceled / expired

 

(51,600)

$

8.00

Balance at December 31, 2020

 

748,600

$

5.25

4.0

Options granted

 

545,000

$

6.17

Options exercised

 

(3,000)

$

6.40

Options canceled / expired

 

(86,367)

$

5.99

Balance at December 31, 2021

 

1,204,233

$

5.56

 

3.6

 

$

1,148

Vested and exercisable at December 31, 2021

 

729,687

$

5.23

 

3.3

 

$

1,081

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

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

 

3.7

$

0.25

 

200,000

$

0.25

12,000

 

0.8

$

14.00

 

12,000

$

14.00

15,000

 

6.1

$

9.00

 

15,000

$

9.00

85,000

 

1.8

$

9.00

 

85,000

$

9.00

146,800

 

2.0

$

7.80

 

127,227

$

7.80

81,100

 

2.8

$

6.40

 

59,473

$

6.40

40,000

3.7

$

4.50

18,667

$

4.50

93,000

 

4.0

$

4.85

 

43,400

$

4.85

307,000

4.1

$

5.30

102,333

$

5.30

30,000

4.3

$

5.60

10,000

$

5.60

194,333

4.8

$

7.65

56,587

$

7.65

1,204,233

 

3.6

$

5.56

 

729,687

$

5.23

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

%

    

Year Ended December 31,

 

2021

    

2020

Expected life (in years)

 

5.0

 

5.0

Risk-free interest rate

 

0.4-0.9

%  

0.4-2.5

%

Dividend yield

 

%  

%

Expected volatility

 

91-137

%  

91-107

%

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

$

Changes in the Company’s stock option liability for the years ended December 31, 2021 and 2020 were as follows (stated in thousands):

Balance at December 31, 2019

    

$

66

Gain on revaluation

 

(50)

Balance at December 31, 2020

$

16

Gain on revaluation

 

(9)

Balance at December 31, 2021

$

25

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

    

Number of Warrants outstanding

Balance at December 31, 2019

 

78,551

Convertible debt, warrants issued

302,322

Equity financing, warrants issued

 

3,284,133

Balance at December 31, 2020

 

3,665,006

Debenture, warrants issued (Note 4)

 

275,000

Balance at December 31, 2021

 

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

    

As of December 31,

2021

    

2020

Risk free rate of return

0.4

%

0.1

%

Expected life

0.8

years

1.8

years

Expected volatility

186

%

100

%

Expected dividend per share

nil

nil