Annual report [Section 13 and 15(d), not S-K Item 405]

Conversion Option Derivative (Tables)

v3.25.4
Conversion Option Derivative (Tables)
12 Months Ended
Dec. 31, 2025
Conversion Option Derivative  
Schedule of valuation of conversion option derivative

Conversion Option Derivative Fair Value Model Assumptions

December 31, 2025

December 15, 2025

Expected life (years)

5.04

5.08

Volatility

60.0% - 70.4%

60.0% - 70.9%

Risk free rate

3.7%

3.7%

Expected dividend rate

0.0%

0.0%

Exercise price

$ 1.73

$ 1.73

Market price

$ 1.39

$ 1.33

Conversion option derivative  
Conversion Option Derivative  
Schedule of changes to the fair value of the Conversion Option Derivative

Conversion Option Derivative

Total

December 31, 2024

Additions, at fair value, December 15, 2025

49,105

Fair value loss (gain)

3,130

Foreign exchange loss (gain)

23

December 31, 2025

52,258