(1) Gross Profit (as a % of revenues) would have been 36.5% (2022 – 36.4%; 2021 – 37.5%) not including a non-cash write down of inventory for $331,671 (2022 - $1,976,514; 2021 - $nil)).
| As at | December 31, 2023 | December 31, 2022 | |||||||
| Total assets | $ | 8,330,292 | $ | 14,638,533 | |||||
| Working capital | (717,017 | ) | 10,168,800 | ||||||
| Total non-current liabilities | 523,584 | 249,740 | |||||||
| Shareholders’ equity | $ | 407,716 | $ | 11,040,881 | |||||
| Number of shares outstanding | 49,229,563 | 34,270,579 | |||||||
Shareholders’ equity and working capital as at December 31, 2023, includes a fair value of derivative liability of $4,196,125 ($57,314 – 2022) and would otherwise be $4,603,841 ($11,098,195 – 2022) and $3,479,108 ($10,226,114 - 2022) respectively.
| 2023 Q4 | 2023 Q3 | 2022 Q4 | |||||||
| Revenue | $ | 916,299 | $ | 2,138,018 | $ | 1,314,162 | |||
| Cost of goods sold(2)(4) | $ | (657,420 | ) | $ | (1,243,334 | ) | $ | (2,980,133 | ) |
| Gross profit (3)(5) | $ | 258,879 | $ | 894,683 | $ | (1,665,971 | ) | ||
| Gross margin – percentage | 28.3 | % | 41.8 | % | -126.8 | % | |||
| Operating expenses | $ | (3,482,141 | ) | $ | (6,356,138 | ) | $ | (7,342,669 | ) |
| Operating income (loss) | $ | (3,223,262 | ) | $ | (5,461,456 | ) | $ | (9,008,640 | ) |
| Operating loss per share - basic | $ | (0.08 | ) | $ | (0.13 | ) | $ | (0.26 | ) |
| Operating loss per share - diluted | $ | (0.08 | ) | $ | (0.13 | ) | $ | (0.26 | ) |
| Other income (expense)^ | $ | (965,072 | ) | $ | 14,569 | $ | (7,575,889 | ) | |
| Change in fair value of derivative liability (1) | $ | 153,798 | $ | - | $ | 334,016 | |||
| Other comprehensive income (loss) | $ | (3,461 | ) | $ | (83,363 | ) | $ | (76,073 | ) |
| Comprehensive income (loss) | $ | (4,191,796 | ) | $ | (5,530,248 | ) | $ | (16,660,602 | ) |
| Comprehensive income (loss) per share - basic | $ | (0.10 | ) | $ | (0.13 | ) | $ | (0.49 | ) |
| Comprehensive income (loss) per share - diluted | $ | (0.10 | ) | $ | (0.13 | ) | $ | (0.49 | ) |
