Quarterly report pursuant to Section 13 or 15(d)

Shareholders' Equity and Capital Stock (Tables)

v3.21.1
Shareholders' Equity and Capital Stock (Tables)
3 Months Ended
Mar. 31, 2021
Shareholders' Equity and Capital Stock  
Schedule of Share-based Compensation, Stock Options, Activity

 

 

Outstanding

 

 

Weighted-average

 

Stock Option Activity

 

Options

 

 

exercise price

 

 

 

 

 

 

 

 

December 31, 2020

 

 

11,910,424

 

 

$ 0.61

 

 

 

 

 

 

 

 

 

 

Exercised

 

 

(1,723,818 )

 

 

0.64

 

Forfeited

 

 

(219,055 )

 

 

0.56

 

 

 

 

 

 

 

 

 

 

March 31, 2021

 

 

9,967,551

 

 

$ 0.62

 

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range

 

 

 

 Options outstanding

 

 

 Options exercisable

 

 

 

 

 

 

 

 

 

 Weighted-

 

 

 

 

 

 

 

 

 Weighted-

 

 

 

 

 

 

 

 

 

 

 

 

 average

 

 

 

 

 

 

 

 

 average

 

 

 

 

 

 

 

 

 

 

 

 

 remaining

 

 

 Aggregate 

 

 

 

 

 

 remaining

 

 

 Aggregate 

 

 

 

Exercise

 

 

 Number

 

 

 contractual

 

 

 intrinsic

 

 

 Number

 

 

 contractual

 

 

 intrinsic

 

 

 

price

 

 

 of options

 

 

 life (years)

 

 

 value

 

 

 of options

 

 

 life (years)

 

 

 value

 

 

 Expiry

$

 

 

#

 

 

 

 

 

$

 

 

#

 

 

 

 

 

$

 

 

 

 

0.58

 

 

 

1,084,470

 

 

 

0.7

 

 

 

562,753

 

 

 

1,084,470

 

 

 

0.7

 

 

 

562,753

 

 

2021-12-16

 

0.58

 

 

 

200,000

 

 

 

1.4

 

 

 

103,784

 

 

 

200,000

 

 

 

1.4

 

 

 

103,784

 

 

2022-09-07

 

0.72

 

 

 

1,541,751

 

 

 

1.7

 

 

 

591,416

 

 

 

1,541,751

 

 

 

1.7

 

 

 

591,416

 

 

2022-12-15

 

0.61

 

 

 

200,000

 

 

 

2.0

 

 

 

97,416

 

 

 

200,000

 

 

 

2.0

 

 

 

97,416

 

 

2023-03-30

 

0.74

 

 

 

834,240

 

 

 

2.4

 

 

 

300,093

 

 

 

532,584

 

 

 

2.4

 

 

 

191,581

 

 

2023-08-20

 

0.72

 

 

 

726,674

 

 

 

2.7

 

 

 

272,968

 

 

 

477,562

 

 

 

2.7

 

 

 

179,391

 

 

2023-12-14

 

0.63

 

 

 

2,555,926

 

 

 

3.6

 

 

 

1,204,250

 

 

 

851,978

 

 

 

3.6

 

 

 

401,418

 

 

2024-11-05

 

0.50

 

 

 

2,824,490

 

 

 

4.6

 

 

 

1,690,514

 

 

 

-

 

 

 

-

 

 

 

-

 

 

2025-11-13

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

0.62

 

 

 

9,967,551

 

 

 

3.0

 

 

 

4,823,194

 

 

 

4,888,345

 

 

 

2.0

 

 

 

2,127,759

 

 

 

Schedule of Stock Option Fair Value Assumptions

Stock Option Fair Value Assumptions

 

2020

 

 

2019

 

 

2018

 

 

2017

 

 

2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Expected forfeiture rate

 

 

6.1 %

 

 

6.2 %

 

5.8% - 6.0%

 

 

5.3% - 6.0%

 

 

 

6.2 %

Expected life (years)

 

 

3.9

 

 

 

3.7

 

 

3.7 - 3.8

 

 

 

3.7

 

 

 

3.7

 

Expected volatility

 

 

63.2 %

 

 

58.6 %

 

54.6% - 55.0%

 

 

56.0% - 57.0%

 

 

 

57.0 %

Risk free rate

 

 

0.4 %

 

 

1.6 %

 

1.9% - 2.1%

 

 

1.0% - 1.6%

 

 

 

1.0 %

Expected dividend rate

 

 

0.0 %

 

 

0.0 %

 

 

0.0 %

 

 

0.0 %

 

 

0.0 %

Black-Scholes value (CAD$)

 

$0.30

 

 

$0.35

 

 

$0.33 - $0.39

 

 

$0.32 - $0.44

 

 

$0.31

 

Schedule of Restricted Share Unit Activity

 

 

 

 

 

Weighted average

 

 

 

Outstanding

 

 

grant date

 

Restricted Share Unit Activity

 

RSUs

 

 

fair value

 

 

 

 

 

 

 

 

December 31, 2020

 

 

1,404,962

 

 

$ 0.54

 

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(59,843 )

 

$ 0.58

 

 

 

 

 

 

 

 

 

 

March 31, 2021

 

 

1,345,119

 

 

$ 0.56

 

Schedule of Share-based Compensation, Restricted Stock Units Award Activity

RSUs outstanding

 

 

 

 

 Weighted-

 

 

 

 

 

 

 

 

 

 

 average

 

 

 

 

 

 

 

 

 

 

 remaining

 

 

 Aggregate 

 

 

 

 

Number

 

 

 contractual

 

 

 intrinsic

 

 

 Redemption

 

of RSUs

 

 

 life (years)

 

 

 value

 

 

 Date

 

 

 

 

 

 

 

 

 

 

 

 

 

638,989

 

 

 

0.6

 

 

 

702,888

 

 

2021-11-05

 

 

706,130

 

 

 

1.6

 

 

 

776,743

 

 

2022-11-13

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,345,119

 

 

 

1.1

 

 

 

1,479,631

 

 

 

 
Schedule Of Share-Based Compensation, Shares Authorized Under Restricted Stock Units, By Grant Date

Restricted Share Unit Fair Value Assumptions

 

2020

 

 

2019

 

 

 

 

 

 

 

 

Expected forfeiture rate

 

 

4.2 %

 

 

4.8 %

Grant date fair value (CAD$)

 

$0.63

 

 

$0.79

 

Schedule Of Share-Based Compensation, Warrants, Activity

 

 

 

 

 

Number of

 

 

 

 

 

 

Outstanding

 

 

shares to be

issued

 

 

Per share

 

Warrant Activity

 

warrants

 

 

upon exercise

 

 

exercise price

 

 

 

#

 

 

#

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2020

 

 

22,062,878

 

 

 

11,031,439

 

 

 

0.90

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Issued

 

 

16,930,530

 

 

 

8,465,265

 

 

 

1.35

 

Exercised

 

 

(962,000 )

 

 

(481,000 )

 

 

0.75

 

Expired

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31, 2021

 

 

38,031,408

 

 

 

19,015,704

 

 

 

1.10

 

Schedule Of Share-based Compensation Shares Authorized Under Warrants Plans by exercise price range

 

 

 

 

 

 Weighted-

 

 

 

 

 

 

 

 

 

 

 average

 

 

 

 

 

 

 

 

 

 

remaining

 

 

Aggregate

 

 

 

Exercise

 

 

Number

 

 

contractual

 

 

Intrinsic

 

 

 

price

 

 

of warrants

 

 

life (years)

 

 

Value

 

 

Expiry

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1.00

 

 

 

13,062,878

 

 

 

0.5

 

 

 

653,144

 

 

2021-09-25

 

 

0.75

 

 

 

8,038,000

 

 

 

1.3

 

 

 

1,406,650

 

 

2022-08-04

 

 

1.35

 

 

 

16,930,530

 

 

 

2.8

 

 

 

-

 

 

2024-02-04

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1.10

 

 

 

38,031,408

 

 

 

1.7

 

 

 

2,059,794

 

 

 

 
Schedule of Warrant Fair Value Assumptions

Warrant Fair Value Assumptions

 

2021

 

 

2020

 

 

2019

 

 

2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Expected forfeiture rate

 

 

0.0 %

 

 

0.0 %

 

 

-

 

 

 

0.0 %

Expected life (years)

 

 

3.0

 

 

 

2.0

 

 

 

-

 

 

 

3.0

 

Expected volatility

 

 

69.3 %

 

 

71.2 %

 

 

-

 

 

 

55.2 %

Risk free rate

 

 

0.2 %

 

 

0.2 %

 

 

-

 

 

 

2.2 %

Expected dividend rate

 

 

0.0 %

 

 

0.0 %

 

 

-

 

 

 

0.0 %

Black-Scholes value (CAD$)

 

$0.39

 

 

$0.26

 

 

$0.00

 

 

$0.34