Shareholders' Equity (Tables)
|
6 Months Ended |
Jun. 30, 2022 |
|---|
| Shareholders' Equity |
|
| Schedule of Warrants remain outstanding |
The following table summarizes the warrants that remain outstanding as of June 30, 2022:
|
|
|
|
|
|
|
|
|
|
|
|
Exercise |
|
|
Number of |
|
|
Security issued |
|
|
price (CAD$) |
|
|
warrants |
|
Expiration date |
Warrants issued as part of debt offering |
|
|
0.33 |
|
|
45,249,520 |
|
November 1, 2022 |
Warrants issued as part of debt offering |
|
|
0.39 |
|
|
18,360,000 |
|
November 20, 2022 |
Consultant warrants |
|
|
0.53 |
|
|
750,000 |
|
November 22, 2022 |
Consultant warrants |
|
|
0.33 |
|
|
500,000 |
|
January 28, 2023 |
Founders separation warrants |
|
|
1.05 |
|
|
9,045,691 |
|
September 30, 2024 |
|
|
|
|
|
|
73,905,211 |
|
|
|
| Schedule of warrants outstanding |
A rollforward of warrant activity for the six months ended June 30, 2022 is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted- |
|
|
|
Number of |
|
|
average |
Warrants |
|
|
warrants |
|
|
exercise price |
Balance as of January 1, 2022 |
|
|
73,905,211 |
|
|
CAD$ 0.44 |
Exercised |
|
|
— |
|
|
— |
Balance as of June 30, 2022 |
|
|
73,905,211 |
|
|
CAD$ 0.44 |
|
| Summary of restricted stock units outstanding |
A summary of the status of the RSUs outstanding is as follows:
|
|
|
|
|
|
|
|
|
|
|
Number of |
|
Weighted Average |
|
RSUs |
|
|
RSUs |
|
Grant Date Fair Value |
|
Unvested as of January 1, 2022 |
|
|
3,627,081 |
|
$ |
0.37 |
|
Issued |
|
|
40 |
|
|
0.23 |
|
Forfeited |
|
|
(214,993) |
|
|
0.35 |
|
Vested |
|
|
(993,476) |
|
|
0.33 |
|
Unvested as of June 30, 2022 |
|
|
2,418,652 |
|
$ |
0.39 |
|
|
| Summary of share options outstanding |
A summary of the status of the share options outstanding is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
Share options |
|
Weighted- |
|
Weighted-average |
|
|
|
common |
|
average |
|
remaining contractual |
Share options |
|
|
shares |
|
exercise price |
|
life (yrs) |
Balance as of January 1, 2022 |
|
|
16,573,380 |
|
US$ |
0.63 |
|
5.39 |
Forfeited |
|
|
(4,368,802) |
|
US$ |
0.90 |
|
— |
Balance as of June 30, 2022 |
|
|
12,204,578 |
|
US$ |
0.56 |
|
6.05 |
|
| Summary of share options that remain outstanding |
The following table summarizes the share options that remain outstanding as of June 30, 2022:
|
|
|
|
|
|
|
|
|
|
|
Number of |
|
Exercise |
|
|
|
Options |
Security issuable |
|
share options |
|
price |
|
Expiration date |
|
exercisable |
Legacy employees |
|
190,000 |
|
US$ 1.58-1.58 |
|
June 28, 2028 |
|
190,000 |
2020 employee grant |
|
7,931,980 |
|
US$ 0.30-0.48 |
|
July 28, 2028 - December 1, 2030 |
|
4,775,139 |
Other employee grants |
|
4,082,598 |
|
US$ 0.41-3.96 |
|
July 28, 2022 - November 21, 2029 |
|
4,082,598 |
Total |
|
12,204,578 |
|
|
|
|
|
9,047,737 |
|
| Summary of performance stock units outstanding |
A summary of the status of the PSUs outstanding is as follows:
|
|
|
|
|
|
|
|
|
|
|
Number of |
|
Weighted Average |
|
Performance Stock Units |
|
|
PSUs |
|
Grant Date Fair Value |
|
Unvested as of January 1, 2022 |
|
|
11,804,498 |
|
$ |
0.31 |
|
Issued |
|
|
— |
|
|
— |
|
Forfeited |
|
|
(151,368) |
|
|
0.20 |
|
Vested |
|
|
(700,000) |
|
|
0.51 |
|
Unvested as of June 30, 2022 |
|
|
10,953,130 |
|
$ |
0.29 |
|
|
| Summary of PSU award granted containing market conditions |
A summary of the PSU awards granted containing market conditions is as follows:
|
|
|
|
|
|
|
|
|
PSU Grant Dates |
|
Close Price on Grant Date |
|
|
Expiration Date |
|
Outstanding (#) |
June 18, 2021 |
|
$ |
0.4941 |
|
|
December 31, 2024 |
|
7,487,351 |
September 30, 2021 |
|
$ |
0.3875 |
|
|
December 31, 2024 |
|
2,367,772 |
December 19, 2021 |
|
$ |
0.2263 |
|
|
December 31, 2024 |
|
549,375 |
Total |
|
|
|
|
|
|
|
10,404,498 |
|