| As at | September 30, 2022 | December 31, 2021 | ||||||
| Total assets | $ | 29,355,617 | $ | 42,113,240 | ||||
| Working capital | 18,500,922 | 26,836,922 | ||||||
| Total non-current liabilities | 372,666 | 465,214 | ||||||
| Shareholders’ equity | $ | 26,828,165 | $ | 34,926,239 | ||||
| Number of shares outstanding | 33,801,531 | 33,168,946 | ||||||
Notes:
(1) The net income (loss) and comprehensive income (loss) for the three and nine months ended September 30, 2022, include a non-cash gain in fair value of derivative liability of $305,094 and 5,168,672 and a recovery on impairment of notes receivable of $nil and $771,260 respectively. The net income (loss) and comprehensive income (loss) for the three and nine months ended September 30, 2022 would otherwise have been a loss of $5,645,909 for the net loss, and a loss of $5,297,627 for the comprehensive loss, and a net loss of $17,009,767 and a comprehensive loss of 16,584,635 for the nine months ended September 30, 2022.
(2) Shareholders’ equity and working capital as at September 30, 2022, include a fair value of derivative liability of $391,330 and would otherwise be $27,219,495 and $18,892,252, respectively.
| 2022 Q3 | 2022 Q2 | 2021 Q3 | ||||||||||
| Revenue | $ | 1,876,221 | $ | 2,370,115 | $ | 1,896,992 | ||||||
| Cost of goods sold | $ | (1,249,313 | ) | $ | (1,356,526 | ) | $ | (1,123,942 | ) | |||
| Gross profit | $ | 626,908 | $ | 1,013,589 | $ | 773,050 | ||||||
| Gross margin – percentage | 33.4 | % | 42.8 | % | 40.80 | % | ||||||
| Operating expenses | $ | (7,007,691 | ) | $ | (7,176,445 | ) | $ | (8,006,957 | ) | |||
| Operating income (loss) | $ | (6,380,783 | ) | $ | (6,162,856 | ) | $ | (7,233,907 | ) | |||
| Operating loss per share - basic | $ | (0.19 | ) | $ | (0.19 | ) | $ | (0.25 | ) | |||
| Operating loss per share - diluted | $ | (0.19 | ) | $ | (0.19 | ) | $ | (0.23 | ) | |||
| Other income (expense) | $ | 1,039,968 | $ | 6,638,171 | $ | 31,135,835 | ||||||
| Change in fair value of derivative liability * | $ | 305,094 | $ | 6,094,438 | $ | 30,562,044 | ||||||
| Other comprehensive income (loss) | $ | 348,282 | $ | 165,009 | $ | 73,472 | ||||||
| Comprehensive income (loss) | $ | (4,992,533 | ) | $ | 640,324 | $ | 23,975,400 | |||||
| Comprehensive income (loss) per share - basic | $ | (0.15 | ) | $ | 0.02 | $ | 0.82 | |||||
| Comprehensive income (loss) per share - diluted | $ | (0.15 | ) | $ | 0.02 | $ | 0.77 | |||||
