Annual and transition report of foreign private issuers [Sections 13 or 15(d)]

CONTRIBUTED CAPITAL (Tables)

v3.25.1
CONTRIBUTED CAPITAL (Tables)
 12 Months Ended
Dec. 31, 2024
Notes and other explanatory information [abstract]  
SCHEDULE OF STOCK OPTIONS USING THE BLACK-SCHOLES OPTION PRICING MODEL AND USED THE ASSUMPTIONS

The Company values stock options using the Black-Scholes option pricing model and used the following assumptions during the reporting periods:

  

    2024     2023  
    Year ended
December 31,		  
    2024     2023  
Risk-free interest rate     4.24 %     4.25 %
Contractual term (years)     1-4       1-4  
Expected volatility     187.90 %     204.20 %
Expected dividends     0.00 %     0.00 %
SUMMARY OF OPTION ACTIVITY

A summary of the option activity during the year ended December 31, 2024 was as follows:

 

    No of Options     Weighted Average Share Price     Weighted Average Remaining Life     Aggregate Intrinsic Value  
Outstanding as of January 1, 2024     1,524,949     $ 2.54       2     $ 3,871,101  
Granted     873,429       0.77       3       674,704  
Exercised     -       -           -       -  
Expired     (375,000 )     3.52       -       (1,320,933 )
                                 
Outstanding as of December 31, 2024     2,023,378     $ 1.59       2     $ 3,224,872  

 

A summary of the option activity during the year ended December 31, 2023 was as follows:

 

    No of Options     Weighted Average Share Price     Weighted Average Remaining Life     Aggregate Intrinsic Value  
Outstanding as of January 1, 2023     1,026,520     $ 4.40       2     $ 4,517,330  
Granted     873,429       0.77          4       674,704  
Exercised     -       -       -       -  
Expired     (375,000 )     3.52               (1,320,933 )
Outstanding as of December 31, 2023                                
      1,524,949     $ 2.54       2     $ 3,871,101  

SCHEDULE OF INFORMATION RELATED TO OPTIONS OUTSTANDING

 

    Options Outstanding         Options Exercisable  
Year   Exercise Price     Outstanding Number of Options     Underlying Common Stock   Weighted Average Remaining Life in Years     Exercisable Number of Warrants  
                             
2019 Share Option   $ 35.57       25,748     GNS     1     $ 25,748  
2020 Share Option     58.12       7,464     GNS            1       7,464  
2021 Share Options     60.00       13,421     GNS     3       13,421  
2022 Employee Grants (Options)     77.10       519     GNS     3       519  
2023 Employee Grants (Options)     7.70       87,343     GNS     3       87,343  
2024 Employee Grants (Options)     2.94       160,000     GNS     3       -  
    $ 11.33       294,495           2     $ 134,495