| As at |
June 30,
2021 | December 31, 2020 | |||||||
| Total assets | $ | 42,424,721 | $ | 7,100,567 | |||||
| Working capital (deficit) | (27,200,553) (2) | 1,214,371 | |||||||
| Total non-current liabilities | 277,583 | 104,885 | |||||||
| Shareholders’ equity | $ | (6,433,224 | ) | $ | 3,848,205 | ||||
| Number of shares outstanding | 135,166,934 | 72,781,413 | |||||||
Notes:
(1) The net loss and comprehensive loss for the three and six months ended June 30, 2021 include a change in fair value of derivative liability for USD warrants relating to the Company’s Regulation A offering of $4,821,177 and $45,840,349, respectively, and would otherwise be $3,201,043 and $3,274,179, respectively, and $7,105,805 and $7,169,654, respectively.
(2) Shareholders’ equity and working capital deficit as at June 30, 2021 includes a fair value of derivative liability for USD warrants of $46,588,983 and would otherwise be shareholders’ equity of $40,155,759 and working capital of $19,388,430.
| 2021 Q2 | 2021 Q1 | 2020 Q2 | |||||||
| Revenue | $ | 1,981,872 | $ | 1,539,736 | $ | 926,540 | |||
| Cost of goods sold | $ | (1,253,279 | ) | $ | (1,024,729 | ) | $ | (495,193 | ) |
| Gross profit | $ | 728,593 | $ | 515,007 | $ | 431,347 | |||
| Gross margin – percentage | 36.8 | % | 33.4 | % | 46.6 | % | |||
| Operating expenses | $ | (3,340,952 | ) | $ | (4,839,600 | ) | $ | (2,387,738 | ) |
| Operating loss | $ | (2,612,359 | ) | $ | (4,324,593 | ) | $ | (1,956,391 | ) |
| Operating loss per share (basic and diluted) | $ | (0.02 | ) | $ | (0.05 | ) | $ | (0.03 | ) |
| Other income (expense) | $ | (5,409,861) (3) | $ | (40,599,341) (3) | $ | 987,872 | |||
| Other comprehensive income | $ | 9,684 | $ | 9,287 | $ | (13,713 | ) | ||
| Comprehensive loss | $ | (8,095,356 | ) | $ | (44,914,647 | ) | $ | (982,232 | ) |
| Comprehensive loss per share (basic and diluted) | $ | (0.06 | ) | $ | (0.48 | ) | $ | (0.01 | ) |
Note:
