Cover
Cover - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Mar. 30, 2022 | Jun. 30, 2021 | |
Cover [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Document Period End Date | Dec. 31, 2021 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2021 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity File Number | 000-30414 | ||
Entity Registrant Name | ALR TECHNOLOGIES INC. | ||
Entity Central Index Key | 0001087022 | ||
Entity Tax Identification Number | 88-0225807 | ||
Entity Incorporation, State or Country Code | NV | ||
Entity Address, Address Line One | 7400 Beaufont Springs Dr | ||
Entity Address, Address Line Two | Suite 300 | ||
Entity Address, City or Town | Richmond | ||
Entity Address, State or Province | VA | ||
Entity Address, Postal Zip Code | 23225 | ||
City Area Code | (804) | ||
Local Phone Number | 554-3500 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | Yes | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | No | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 32,562,981 | ||
Entity Common Stock, Shares Outstanding | 542,716,344 | ||
Auditor Name | DALE MATHESON CARR-HILTON LABONTE LLP | ||
Auditor Location | Vancouver, Canada | ||
Auditor Firm ID | 1173 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Current assets: | ||
Cash | $ 115,922 | $ 66,190 |
Prepaid expenses | 77,295 | 62,659 |
Total assets | 193,217 | 128,849 |
Current liabilities: | ||
Accounts payable and accrued liabilities | 1,130,546 | 1,113,720 |
Promissory notes payable to related parties | 3,041,966 | 3,031,966 |
Promissory notes payable to unrelated parties | 2,213,368 | 2,254,353 |
Interest payable | 4,110,647 | 3,575,326 |
Lines of credit from related parties | 14,008,833 | 11,914,092 |
Total liabilities | 24,505,360 | 21,889,457 |
Stockholders' Deficit | ||
Preferred stock: Authorized: 500,000,000 shares of preferred stock (2020- 500,000,000 ) with a par value of $ 0.001 per share Shares issued and outstanding: Nil shares of preferred stock (2020 - Nil) were issued and outstanding | ||
Common stock: Authorized: 10,000,000,000 shares of common stock (2020 - 10,000,000,000 ) with a par value of $ 0.001 per share Shares issued and outstanding: 542,716,344 shares of common stock (2020 - 511,020,709) | 542,716 | 511,020 |
Obligation to issue shares | 200,000 | |
Additional paid-in capital | 77,171,627 | 71,100,134 |
Accumulated other comprehensive loss – cumulative translation differences | (11,409) | |
Accumulated deficit | (102,015,077) | (93,571,762) |
Total stockholders’ deficit | (24,312,143) | (21,760,608) |
Total liabilities and stockholders’ deficit | $ 193,217 | $ 128,849 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Dec. 31, 2021 | Dec. 31, 2020 |
Statement of Financial Position [Abstract] | ||
Preferred shares, authorized | 500,000,000 | 500,000,000 |
Preferred shares, par value | $ 0.001 | $ 0.001 |
Preferred shares, issued | 0 | 0 |
Preferred shares, outstanding | 0 | 0 |
Common shares, authorized | 10,000,000,000 | 10,000,000,000 |
Common shares, par value | $ 0.001 | $ 0.001 |
Common shares, Issued | 542,716,344 | 511,020,709 |
Common shares, outstanding | 542,716,344 | 511,020,709 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Income Statement [Abstract] | ||
Revenue | $ 7,468 | |
Cost of revenue | (2,523) | |
Gross margin | 4,945 | |
Operating expenses | ||
Product development | 498,996 | 1,433,027 |
Professional fees | 881,016 | 953,350 |
Selling, general and administration | 1,566,306 | 1,439,634 |
Operating loss | 2,946,318 | 3,826,011 |
Loss before other items | (2,941,373) | (3,826,011) |
Other items | ||
Interest expense | (5,468,328) | (2,116,466) |
Loss on settlement of debt | (33,614) | |
Other income | 26,460 | |
Total other items | (5,501,942) | (2,090,006) |
Net Loss | (8,443,315) | (5,916,017) |
Other comprehensive loss | ||
Exchange difference on translating foreign operations | (11,409) | |
Comprehensive loss for the year | $ (8,454,724) | $ (5,916,017) |
Weighted average number of shares of common stock outstanding, basic and diluted | 534,980,347 | 337,033,584 |
Loss per share, basic and diluted | $ (0.02) | $ (0.02) |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Deficit - USD ($) | Common Stock [Member] | Obligation To Issue Shares [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total |
Beginning balance, value at Dec. 31, 2019 | $ 268,777 | $ 56,298,702 | $ (87,655,745) | $ (31,088,266) | ||
Balance at beginning (in Shares) at Dec. 31, 2019 | 268,777,909 | |||||
Issuance of common stock for settlement of debt | $ 242,000 | 11,838,000 | 12,080,000 | |||
Issuance of common stock for settlement of debt (In Shares) | 242,000,000 | |||||
Issuance of common stock for cash | $ 243 | 11,897 | 12,140 | |||
Issuance of common stock for cash (in Shares) | 242,800 | |||||
Share subscriptions collected | 200,000 | 200,000 | ||||
Imputed interest | 123,518 | 123,518 | ||||
Stock options granted as compensation | 2,828,017 | 2,828,017 | ||||
Exchange difference on translating foreign operations | ||||||
Net loss for the year | (5,916,017) | (5,916,017) | ||||
Ending balance, value at Dec. 31, 2020 | $ 511,020 | 200,000 | 71,100,134 | (93,571,762) | (21,760,608) | |
Balance at end (in Shares) at Dec. 31, 2020 | 511,020,709 | |||||
Issuance of common stock for settlement of debt | $ 4,400 | 246,400 | 250,800 | |||
Issuance of common stock for settlement of debt (In Shares) | 4,400,000 | |||||
Issuance of common stock for cash | $ 27,297 | (200,000) | 1,309,535 | 1,136,832 | ||
Issuance of common stock for cash (in Shares) | 27,296,635 | |||||
Cancelled shares | $ (1) | 1 | ||||
Cancelled shares (In Shares) | (1,000) | |||||
Imputed interest | 112,339 | 112,339 | ||||
Stock options granted as compensation | 4,403,218 | 4,403,218 | ||||
Exchange difference on translating foreign operations | (11,409) | (11,409) | ||||
Net loss for the year | (8,443,315) | (8,443,315) | ||||
Ending balance, value at Dec. 31, 2021 | $ 542,716 | $ 77,171,627 | $ (11,409) | $ (102,015,077) | $ (24,312,143) | |
Balance at end (in Shares) at Dec. 31, 2021 | 542,716,344 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
OPERATING ACTIVITIES | ||
Net loss | $ (8,443,315) | $ (5,916,017) |
Stock-based compensation-product development costs | 222,178 | 1,156,195 |
Stock-based compensation-selling, general and administration | 586,538 | 930,258 |
Stock-based compensation-professional fees | 169,382 | 741,564 |
Stock-based compensation-interest expense | 3,425,120 | |
Interest expense on lines of credit | 1,402,187 | 1,464,077 |
Non-cash imputed interest expense | 112,339 | 123,518 |
Shares issued for services | 20,000 | |
Write-off of accounts payable | (26,460) | |
Loss on settlement of debt | 33,614 | |
Changes in operating assets and liabilities | ||
Increase in prepaid expenses | (14,636) | (62,659) |
Increase in accounts payable and accrued liabilities | 211,012 | 72,099 |
Increase in interest payable | 527,336 | 528,871 |
Net cash used in operating activities | (1,768,245) | (968,554) |
FINANCING ACTIVITIES | ||
Proceeds from lines of credit | 1,149,279 | 820,766 |
Repayment of lines of credit interest | (456,725) | |
Proceeds from share subscriptions received | 200,000 | |
Proceeds from sales of shares of common stock | 1,136,832 | 12,140 |
Net cash provided by financing activities | 1,829,386 | 1,032,906 |
Effect of foreign exchange on cash | (11,409) | |
Change in cash | 49,732 | 64,352 |
Cash, beginning of year | 66,190 | 1,838 |
Cash, end of year | $ 115,922 | $ 66,190 |
Basis of presentation, nature o
Basis of presentation, nature of operations and going concern | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Basis of presentation, nature of operations and going concern | 1. Basis of presentation, nature of operations and going concern ALR Technologies Inc. (the “Company”) was incorporated under the laws of the state of Nevada on March 24, 1987. On May 16, 2020, the Company incorporated a wholly owned subsidiary, ALR Technologies Sg Pte. Ltd. (“ALRT SG”), under the Companies Act Business Corporations Act These consolidated financial statements have been prepared in accordance with U.S. GAAP in U.S. dollars and on a going concern basis, which presumes the realization of assets and the discharge of liabilities and commitments in the normal course of operations for the foreseeable future. Several adverse conditions cast substantial doubt on the validity of this assumption. The Company has incurred significant losses over the past several fiscal years (2021 - $ 8,443,315 5,916,017 24,312,143 21,760,608 102,015,077 93,571,762 24,505,360 21,889,457 The Company’s ability to continue as a going concern is dependent upon the continued financial support of its creditors and its ability to obtain financing to fund working capital and overhead requirements, fund the development of the Company’s product line, and ultimately, the Company’s ability to achieve profitable operations and repay overdue obligations. Management has obtained a mix of equity and line of credit financing from related parties. The line of credit facilities have available borrowing in principal up to $14,300,000. As of December 31, 2021, the total principal balance outstanding was $12,688,405. The resolution of whether the Company is able to continue as a going concern is dependent upon the realization of management’s plans. There can be no assurance that the Company will be able to raise any additional debt or equity capital from the sources described above or that the lenders in the line of credit arrangements will maintain the availability of borrowing from the lines. If management is unsuccessful in obtaining short-term financing or achieving long-term profitable operations, the Company will be required to cease operations. In March 2020, the World Health Organization declared coronavirus, COVID-19, a global pandemic. This contagious disease outbreak, which has continued to spread, and any related adverse public health developments, has adversely affected workforces, economies and financial markets globally, potentially leading to an economic downturn. Management does not expect that COVID-19 will have a significant impact on the Company; however, it could have a potential impact on the Company’s ability to raise money, market its products to attract customers or procure equipment and parts for its glucose monitoring system. All of the Company’s debt is either due on demand or is in default, while continuing to accrue interest at its stated rate. The Company will seek to obtain creditors’ consents to delay repayment of the outstanding promissory notes payable and related interest thereto, until it is able to replace this financing with funds generated by operations, recapitalization with replacement debt or from equity financings through private placements. While some of the Company’s creditors have agreed to extend repayment deadlines in the past, there is no assurance that they will continue to do so in the future. In the past, creditors have successfully commenced legal action against the Company to recover debts outstanding. In those instances, the Company was able to obtain financing from related parties to cover the verdict or settlement; however, there is no assurance that the Company would be able to obtain the same financing in the future. If the Company is unsuccessful in obtaining financing to cover any potential verdicts or settlements, the Company will be required to cease operations. The Company’s activities will necessitate significant uses of working capital beyond 2022. Additionally, the Company’s capital requirements will depend on many factors, including the success of the Company’s continued product development and distribution efforts. The Company plans to continue financing its operations with the lines of credit it has available and other sources of financing. On January 18, 2022, the Company filed a prospectus whereby it distributed subscription rights to its shareholders (note 14(a)). |
Significant accounting policies
Significant accounting policies | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Significant accounting policies | 2. Significant accounting policies a) Basis of consolidation These consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries, ALRT SG, which was incorporated on May 16, 2020 in Singapore, and Canada Diabetes Solution Centre, Inc., which was incorporated on June 9, 2021 in Alberta, Canada. The Canadian subsidiary is currently inactive. All significant intercompany balances and transactions have been eliminated on consolidation. b) Stock-based compensation The Company follows the fair value method of accounting for stock-based compensation. The Company estimates the fair value of share-based payment awards on the date of grant using an option pricing model. The value of the portion of the award that is ultimately expected to vest is recognized as an expense over the requisite service period in the Company’s consolidated financial statements. The Company estimates the fair value of the stock options using the Black-Scholes option pricing model. The Black-Scholes option pricing model requires the input of highly subjective assumptions, including the option’s expected life and the price volatility of the underlying stock. c) Revenue recognition The Company’s primary source of revenue is from subscription fees. Customers are billed in advance of the start of their subscription and revenue is recognized ratably over each monthly subscription period. The Company is the principal in all its relationships where partners provide monitoring services as well as testing supplies, as the Company retains control over service delivery to its customers. Payments made to the partners, such as for marketing, where the price that the customer pays is established by the partners and is part of the subscription, are recognized as reduction of revenue. d) Foreign currency translation The presentation currency of the Company is the U.S. dollar. The functional currency of each of the parent company and its subsidiaries is measured using the currency of the primary economic environment in which that entity operates. The functional currency of ALRT SG is the Singapore dollar, for Canada Diabetes Solution Centre, Inc. it is the Canadian dollar, and for the Company the functional currency it is the U.S. dollar. Transactions and balances Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the date of the transaction. Foreign currency monetary items are translated at the year-end exchange rate. Non-monetary items measured at historical cost continue to be carried at the exchange rate at the date of the transaction. Non-monetary items measured at fair value are reported at the exchange rate at the date when fair values were determined. Exchange differences arising on the translation are recognized in profit or loss in the consolidated statement of operations in the year in which they arise. Parent and subsidiary companies The financial results and position of foreign operations whose functional currency is different from the presentation currency are translated as follows: · Assets and liabilities are translated at year-end exchange rates prevailing at that reporting date; and · Income and expenses are translated at monthly average exchange rates during the year. Exchange differences arising on the translation of foreign operations are transferred directly to the Company’s exchange difference on translating foreign operations in the Consolidated Statements of Operations, and are reported as a separate component of shareholders’ equity included in “Accumulated Other Comprehensive Loss”. These differences are recognized in profit or loss in the Consolidated Statement of Operations in the year in which they are disposed. e) Income taxes Income taxes are accounted for under the asset and liability method. Deferred income tax assets and liabilities are recognized for the differences between the consolidated financial statement carrying amounts of existing assets and liabilities and their respective tax basis, and operating loss carry-forwards that are available to be carried forward to future years for tax purposes. Deferred income tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. When it is not considered to be more likely than not that a deferred income tax asset will be realized, a valuation allowance is provided for the excess. The Company follows the accounting requirements associated with uncertainty in income taxes using the provisions of Financial Accounting Standards Board Accounting Standards Codification 740 Income Taxes no f) Use of estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements, the measurement of stock-based compensation, the fair value of financial instruments, and the reported amounts of revenues and expenses during the reporting period. Management believes the estimates are reasonable; however, actual results could differ from those estimates. g) Loss per share Basic loss per common share is calculated by dividing net loss by the weighted average number of common shares outstanding during the year. Diluted loss per common share is calculated by dividing the net loss by the sum of the weighted average number of common shares outstanding and the dilutive common equivalent shares outstanding during the year. Common equivalent shares consist of the shares issuable upon exercise of stock options and warrants calculated using the treasury stock method. Common equivalent shares are not included in the calculation of the weighted average number of shares outstanding for diluted loss per common share when the effect would be anti-dilutive. h) Comprehensive income (loss) Comprehensive income is the overall change in the net assets of the Company for a period, other than changes attributable to transactions with stockholders. It is made up of net income (loss) and other comprehensive income (loss). Other comprehensive income (loss) consists of net income (loss) and other gains and losses affecting stockholders' equity that under U.S. GAAP are excluded from net income. i) Fair value of financial instruments The Company’s financial instruments include cash, accounts payable, promissory notes payable, interest payable and lines of credit. The fair values of these financial instruments approximate their carrying values due to the relatively short periods to maturity. For fair value measurement, U.S. GAAP establishes a three-tier hierarchy that prioritizes the inputs used in the valuation methodologies in measuring fair value: Level 1 — observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 — includes other inputs that are directly or indirectly observable in the marketplace. Level 3 — unobservable inputs that are supported by little or no market activity. Cash is measured at Level 1 inputs. j) Recently adopted and issued accounting pronouncements Issued The Company has implemented all new accounting pronouncements that are in effect and may impact its consolidated financial statements. The Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its consolidated financial position or consolidated statements of operations. |
Accounts payable and accrued li
Accounts payable and accrued liabilities | 12 Months Ended |
Dec. 31, 2021 | |
Payables and Accruals [Abstract] | |
Accounts payable and accrued liabilities | 3. Accounts payable and accrued liabilities A summary of the accounts payable and accrued liabilities is as follows: Schedule of accounts payable and accrued liabilities December 31, December 31, Accounts payable $ 806,059 $ 874,754 Accrued liabilities 322,087 238,966 Deferred revenue 2,400 — Accounts payable and accrued liabilities $ 1,130,546 $ 1,113,720 |
Interest, advances and promisso
Interest, advances and promissory notes payable | 12 Months Ended |
Dec. 31, 2021 | |
Interest Advances And Promissory Notes Payable | |
Interest, advances and promissory notes payable | 4. Interest, advances and promissory notes payable a) Promissory notes payable to related parties A summary of activities of promissory notes payable to related parties is as follows: Schedule of promissory notes payable to related parties Promissory Notes Payable to Related Parties Carrying Value Balance, December 31, 2019 and 2020 $ 3,031,966 Transferred from promissory notes payable pursuant to private transaction 10,000 Balance, December 31, 2021 $ 3,041,966 A summary of the promissory notes payable to related parties is as follows: Schedule of activity of promissory notes payable to related parties Promissory Notes Payable to Related Parties December 31, December 31, 2020 Promissory notes payable to relatives of directors collateralized by a general security agreement over all the assets of the Company, past maturity: i. Interest at 1% per month $ 720,619 $ 720,619 ii. Interest at 1.25% per month 51,347 51,347 iii. Interest at the U.S. bank prime rate plus 1% 100,000 100,000 iv. Interest at 0.5% per month 695,000 695,000 Promissory notes payable, unsecured, to relatives of a director, bearing interest at 1% per month, past maturity 1,475,000 1,465,000 Total Promissory Notes Payable to Related Parties $ 3,041,966 $ 3,031,966 All amounts past maturity continue to accrue interest at their stated rate and are considered due on demand. b) Promissory notes payable to unrelated parties A summary of activities of promissory notes payable to unrelated parties is as follows: Schedule of activities of promissory notes payable Promissory Notes Payable to Unrelated Parties Carrying Balance, December 31, 2019 and 2020 $ 2,254,353 Reclassified to interest payable (10,985 ) Extinguished through issuance of shares of common stock (note 6) (20,000 ) Transferred to promissory notes payable pursuant to private transaction (10,000 ) Balance, December 31, 2021 $ 2,213,368 A summary of the promissory notes payable to unrelated parties is as follows: Schedule of activity of promissory notes payable to unrelated parties Promissory Notes Payable to Unrelated Parties December 31, December 31, 2020 Unsecured promissory notes payable to unrelated lenders, past maturity: i. Interest at 1% per month $ 1,317,456 $ 1,337,456 ii. Interest at 0.667% per month 425,000 435,985 iii. Interest at 0.625% per month 150,000 150,000 iv. Non-interest-bearing 270,912 270,912 Promissory notes payable, secured by a guarantee from the Chief Executive Officer, bearing interest at 1% per month, past maturity 50,000 60,000 Total Promissory Notes Payable to Unrelated Parties $ 2,213,368 $ 2,254,353 All amounts past maturity continue to accrue interest at their stated rate and are considered due on demand. c) Interest payable A summary of interest payable activity is as follows: Scheduled of summary of interest payable activity Interest Payable Carrying Balance, December 31, 2019 $ 5,364,997 Interest incurred on promissory notes payable 528,871 Interest payable retired through issuance of shares (2,318,542 ) Balance, December 31, 2020 3,575,326 Reclassified from promissory notes payable 10,985 Interest incurred on promissory notes payable 527,336 Interest payable retired through issuance of shares (3,000 ) Balance, December 31, 2021 $ 4,110,647 Interest payable is due to related and unrelated parties as follows: Schedule of Interest payable is due to related Interest Payable December 31, December 31, 2020 Related parties $ 1,200,170 $ 873,666 Non-related parties 2,910,477 2,701,660 Interest payable $ 4,110,647 $ 3,575,326 The payment terms, security and any interest payable are based on the underlying promissory notes payable that the Company has outstanding. d) Interest expense During the year ended December 31, 2021, the Company incurred interest expense of $ 5,468,328 2,116,466 · $3,425,120 (2020 - $nil 0 · $1,402,187 (2020 - $1,464,077) incurred on lines of credit payable, as shown in note 5; · $527,336 (2020 - $528,871) incurred on promissory notes (notes 4(a) and 4(b)); · $112,339 (2020 - $123,518) incurred from the calculation of imputed interest on accounts payable outstanding for longer than one year, advances payable and promissory notes payable, which had no stated interest rate; and · $1,346 (2020 - $nil 0 |
Lines of credit
Lines of credit | 12 Months Ended |
Dec. 31, 2021 | |
Lines Of Credit | |
Lines of credit | 5. Lines of credit A summary of lines of credit activity is as follows: Schedule of lines of credit activity Total Balance, December 31, 2019 $ 19,310,707 Advances received on lines of credit 820,766 Repayment of principal borrowed on lines of credit (note 6(b)) (1,038,967 ) Interest incurred on lines of credit 1,464,077 Repayment of interest on lines of credit (note 6(b)) (8,642,491 ) Balance, December 31, 2020 11,914,092 Advances received on lines of credit 1,149,279 Interest incurred on lines of credit 1,402,187 Repayment of interest on lines of credit (note 6(b)) (456,725 ) Balance, December 31, 2021 $ 14,008,833 On December 10, 2021, the Company and the spouse of the Chairman entered into an amendment agreement to increase the borrowing limit on the line of credit provided by the spouse of the Chairman to the Company from $2,000,000 to $4,000,000. The terms of amounts to be advanced under the amendment are consistent with the line of credit. In connection with the line of credit, the Company granted the spouse of the Chairman the option to acquire 40,000,000 shares of common of the Company at a price of $0.05 per share until December 31, 2026 (note 7). On September 21, 2020, the Company, the Chairman and the Chairman’s spouse agreed to retire a portion of the principal of $1,038,967 and accrued interest of $8,642,491 pursuant to two shares for debt agreements (note 6(b)). As of December 31, 2021, the Company has two lines of credit as follows: Schedule of lines of credit Creditor Interest Rate Borrowing Limit Repayment Terms Principal Borrowed Accrued Interest Total Outstanding Security Purpose Chairman and CEO 1% per Month $ 10,300,000 Due on Demand $ 10,220,700 $ 1,208,582 $ 11,429,282 General Security over Assets General Corporate Requirements Wife of Chairman 1% per Month 4,000,000 Due on Demand 2,467,705 111,846 2,579,551 General Security over Assets General Corporate Requirements Total $ 14,300,000 $ 12,688,405 $ 1,320,428 $ 14,008,833 As of December 31, 2020, the Company has two lines of credit as follows: Creditor Interest Rate Borrowing Limit Repayment Terms Principal Borrowed Accrued Interest Total Outstanding Security Purpose Chairman and CEO 1% per Month $ 10,300,000 Due on Demand $ 9,539,125 $ 314,967 $ 9,854,092 General Security over Assets General Corporate Requirements Wife of Chairman 1% per Month 2,000,000 Due on Demand 2,000,000 60,000 2,060,000 General Security over Assets General Corporate Requirements Total $ 12,300,000 $ 11,539,125 $ 374,967 $ 11,914,092 |
Capital stock
Capital stock | 12 Months Ended |
Dec. 31, 2021 | |
Equity [Abstract] | |
Capital stock | 6. Capital stock a) Authorized share capital i. Common stock 10,000,000,000 shares of common stock with a par value of $0.001 per share. ii. Preferred stock 500,000,000 shares of preferred stock with a par value of $0.001 per share. b) Issued share capital During the year ended December 31, 2021: i. On January 4, 2021, 1,000 shares of common stock were cancelled by a shareholder; no consideration was exchanged. ii. On April 12, 2021, the Company elected to extend the initial 90-day period (April 22, 2021) by an additional 100-day period related to the closing of the rights offering. The Company had until July 31, 2021 to sell the remaining 113,025,592 shares of common stock. The Company further extended the offering period to October 29, 2021. The Company filed a post-effective amendment to further extend the rights offering from October 29, 2021 to March 15, 2022. On such case-by-case basis, the Company will allow for the exercise of any such shareholders until April 1, 2022. iii. The Company collected subscriptions of $1,124,832 pursuant to its registration statement and issued a total of 26,496,635 shares of common stock for gross proceeds of $1,324,832; $200,000 of the proceeds had been collected during the year ended December 31, 2020 and recognized as obligation to issue shares. iv. The Company received proceeds of $12,000 pursuant to the exercise of options to acquire 800,000 shares of common stock at a price of $0.015 per share. v. The Company entered into two shares for debt agreements with two creditors to issue an aggregate 4,400,000 shares of common stock at a fair value of $0.057 per share for a purchase price of $250,800 in exchange for the retirement of $217,186 of liabilities comprised of: · Accounts payable $ 194,186 · Promissory notes – Principal $ 20,000 · Line of credit – Accrued interest $ 3,000 The Company recognized loss on debt settlement of $33,614. The Company also issued commitment letters to two creditors offering them an aggregate 20,000,000 shares of common stock in exchange for the extinguishment of $1,511,377 in promissory notes and interest payable prior to December 31, 2021 (notes 8 and 14). These offer letters expired on December 31, 2021 without the parties executing any settlements. On March 18, 2022, the Company extended the offer letters from December 31, 2021 to December 31, 2022 for the settlement of $1,541,000 in promissory notes and interest payable. During the year ended December 31, 2020: i. On February 11, 2020, the Company issued 2,000,000 restricted shares of common stock at a price of $0.04 per share with a value of $80,000 in exchange for the retirement of $60,000 of accounts payable and $20,000 for the provision of services. ii. On August 24, 2020, the Company issued 242,800 restricted shares of common stock at a price of $0.05 per share for proceeds of $12,140. iii. On September 21, 2020, the Company entered into two shares for debt agreements with the Chairman and his spouse to issue an aggregate 240,000,000 restricted shares of common stock at a price of $0.05 per share for a purchase price of $12,000,000 in exchange for the retirement of $12,000,000 of liabilities comprised of: · Promissory notes – Accrued interest $ 2,318,542 · Line of credit – Accrued interest $ 8,642,491 · Line of credit – Principal $ 1,038,967 iv. On December 4, 2020, the Company filed a Form S-1 Registration Statement to distribute subscription rights to purchase up to an aggregate 127,522,227 shares of common stock at a price of $0.05 per share for maximum aggregate offering proceeds of $6,376,111. The Company collected subscriptions of $200,000 related to management’s right to allocate unsubscribed shares of common stock. |
Additional paid-in capital
Additional paid-in capital | 12 Months Ended |
Dec. 31, 2021 | |
Additional Paid-in Capital | |
Additional paid-in capital | 7. Additional paid-in capital Stock options A summary of stock option activity is as follows: Schedule of share-based compensation, stock options, activity Year Ended Year Ended Number of Options Weighted Average Exercise Price Number of Options Weighted Average Exercise Price Outstanding, beginning of year 5,362,701,500 0.004 5,236,401,500 $ 0.003 Granted 165,000,000 0.050 139,800,000 $ 0.047 Exercised (800,000 ) (0.015 ) — $ — Cancelled (29,900,000 ) (0.034 ) (13,500,000 ) $ (0.034 ) Outstanding, end of year 5,497,001,500 0.006 5,362,701,500 $ 0.004 Exercisable, end of year 5,221,701,500 0.004 5,202,701,500 $ 0.003 During the year ended December 31, 2021: On January 28, 2021, the Company granted the option to acquire an aggregate 32,000,000 shares of common stock at a price of $0.05 per share to six individuals. All of the options will vest according to performance or time-based conditions. Options to acquire 22,000,000 shares of common stock will expire December 31, 2025, and options to acquire 10,000,000 shares of common stock will expire May 17, 2024. As at December 31, 2021, 1,000,000 options have vested to date. The fair value of the options granted totals $1,706,244, of which $573,292 relates to stock options that have time-based vesting conditions and $1,132,952 relates to stock options that have performance vesting conditions. During the current year, $248,189 relates to the stock options with time-based vesting conditions, which was recorded. The remaining fair value of $1,458,055 has not been recorded. On February 22, 2021, the Company granted the option to acquire an aggregate 5,000,000 shares of common stock at a price of $0.05 per share. These options were granted to three individuals and have an expiry date of May 17, 2024. None of these options have vested to date. The fair value of the options granted totals $225,141. During the current year, $57,730 related to stock options with time-based vesting conditions was recognized. The remaining fair value of $167,411 has not been recorded. On April 14, 2021, the Company’s Board of Directors approved the grant of the option to acquire an aggregate 28,500,000 shares of common stock at a price of $0.05 per share until December 31, 2025 to five individuals. All of the options will vest according to performance or time-based conditions; 200,000 options have vested to date. The fair value of the options granted totals $1,565,812, of which $351,621 relates to stock options that have time-based vesting conditions and $1,214,191 relates to stock options that have performance vesting conditions. During the current year, $88,540 related to the stock options with time-based vesting conditions was recognized. The remaining fair value of $1,477,272 has not been recorded. On May 12, 2021, the Company’s Board of Directors amended the option to acquire 2,000,000 shares, previously granted on January 28, 2021 to a consultant, to increase the option by 1,000,000 to provide the optionee the option to acquire an aggregate 3,000,000 shares of common stock at a price of $0.05 per share until December 31, 2025. All other terms of the January 28, 2021 grant remain the same and the options are subject to performance vesting conditions. The fair value of the additional 1,000,000 amended options granted totaling $54,940 was not recorded, as it cannot be determined that it is more likely than not that the performance condition will be met. On May 31, 2021, the Company granted one consultant the option to acquire 5,000,000 shares of common stock of the Company at a price of $0.05 per share until December 31, 2025 subject to performance vesting conditions. The fair value of the options granted totaling $254,708 was not recorded, as it cannot be determined that it is more likely than not that the performance condition will be met. On June 27, 2021, the Company cancelled 7,400,000 stock options with an average exercise price of $0.033. On June 27, 2021, the Company’s Board of Directors approved the grant of the option to acquire an aggregate 21,000,000 shares of common stock at a price of $0.05 per share until June 30, 2026 to four individuals. All of the options will vest according to performance or time-based conditions. The fair value of the options granted totals $1,374,208, of which $26,175 relates to stock options that have time-based vesting conditions and $1,348,033 relates to stock options that have performance vesting conditions. During the current year, $9,816 related to the stock options with time-based vesting conditions was recognized. The remaining fair value of $1,364,392 has not been recorded. On June 30, 2021, the Company amended the option to acquire 4,365,001,300 shares of common stock granted on July 1, 2016 by extending the expiry date from July 1, 2021 to April 12, 2024. The options were granted in connection with lines of credit provided by the Chairman and his spouse, which are currently outstanding (note 5). All of the options had vested in previous years. The fair value of the amendments totaled $1,287,834 and was recorded during the current period in interest expense. Effective July 22, 2021, the Company cancelled 22,500,000 stock options exercisable at $0.035 related to the termination of certain contractors and advisors. On August 27, 2021, the Company granted a member of the Board of Directors the option to acquire 5,000,000 shares of common stock at a price of $0.05 per share until June 30, 2026. The fair value of the options granted totaling $304,692 was fully recorded at grant. On October 4, 2021, the Company granted two individuals the option to acquire an aggregate 17,500,000 options at an exercise price of $0.05 per share until September 30, 2026; 15,000,000 of the options will vest according to time-based conditions and 2,500,000 will vest according to performance conditions. None of the options have vested to date. The fair value of the options granted totals $1,043,690, of which $894,592 relates to stock options that have time-based vesting conditions and $149,098 relates to stock options that have performance vesting conditions. During the current year, $101,758 related to the stock options with time-based vesting conditions was recognized. The remaining fair value of $941,932 has not been recorded. On December 10, 2021, the Company granted one creditor the option to acquire 40,000,000 shares of common stock of the Company at a price of $0.05 per share until December 31, 2026 in connection with receiving line of credit financing (note 5). The fair value of the options granted totaled $2,137,286 and was fully recorded upon the Company entering into the financing agreement with the creditor. On December 10, 2021, the Company granted one consultant the option to acquire 10,000,000 shares of common stock of the Company at a price of $0.05 per share until December 31, 2026 subject to performance vesting conditions. The fair value of the options granted totaling $534,321 was not recorded, as it cannot be determined that it is more likely than not that the performance condition will be met. During the year ended December 31, 2021, the Company recorded a further $167,373 in compensation expense related to the vesting of stock options granted in previous years. During the year ended December 31, 2020: On April 1, 2020, the Company granted one consultant the option to acquire 10,000,000 shares of common stock at a price of $0.035 per share for a term of five years. The fair value of the options granted totaling $391,843 was fully recorded at grant. On May 12, 2020, the Company amended the option to acquire 40,000,000 shares of common stock granted on June 12, 2019 to extend the period of vesting from May 31, 2020 to December 31, 2020. None of these options have vested to date. On May 18, 2020, the Company granted one consultant the option to acquire 500,000 shares of common stock of the Company at a price of $0.035 per share until May 17, 2024. The fair value of the options granted totaling $18,725 was fully recorded at grant. On June 1, 2020, the Company granted one consultant the option to acquire 10,000,000 shares of common stock of the Company at a price of $0.035 per share until May 31, 2025 subject to performance vesting conditions. The fair value of the options granted totaling $621,853 was not recorded, as it cannot be determined that it is more likely than not that the performance condition will be met. On June 5, 2020, the Company granted one sales agent the option to acquire 10,000,000 shares of common stock of the Company at a price of $0.035 per share until May 31, 2025 subject to the agent enrolling 20,000 patients into the ALRT Diabetes Solution by May 31, 2021. The fair value of the options granted totaling $494,868 was not recorded, as it cannot be determined that it is more likely than not that the performance condition will be met. On September 1, 2020, the Company granted 13 individuals the option to acquire an aggregate 74,500,000 options at an exercise price of $0.05 per share; 22,000,000 stock options, which vested at the time of grant, will expire on May 17, 2024 and 52,500,000 stock options, which vest upon achievement of performance conditions, will expire on May 31, 2025. None of the stock options with performance vesting conditions have vested. The fair value of the options granted totals $3,854,619, of which $1,137,397 related to the stock options that have vested was recorded and $2,717,222 related to the options that have not vested was not recorded. On October 12, 2020, the Company granted eight individuals the option to acquire an aggregate 34,800,000 options at an exercise price of $0.05 per share until May 31, 2025; 18,300,000 vested at the time of grant and 16,500,000 of the stock options granted will vest upon achievement of performance conditions. None of the stock options with performance vesting conditions had vested as at December 31, 2020 and 1,000,000 vested during the year ended December 31, 2021. The fair value of the options granted totaled $2,434,053, of which $1,279,973 related to the stock options that have vested was recorded and $1,154,080 related to the options that have not vested was not recorded. During the year ended December 31, 2020, the Company recorded a further $79 in compensation expense relating to the vesting of stock options granted in previous years. Outstanding The options outstanding at December 31, 2021 and 2020 were as follows: Schedule of Options Outstanding December 31, 2021 December 31, 2020 Expiry Date Options Exercise Price Intrinsic Value Options Exercise Price Intrinsic Value July 1, 2021 — $ 0.002 0.058 4,365,001,300 $ 0.002 $ 0.069 November 27, 2022 5,600,000 $ 0.015 0.045 6,950,000 $ 0.015 $ 0.056 January 31, 2023 40,500,000 $ 0.015 0.045 40,500,000 $ 0.015 $ 0.056 June 13, 2023 5,000,000 $ 0.015 0.045 5,000,000 $ 0.015 $ 0.056 October 1, 2023 — $ 0.050 0.010 300,000 $ 0.050 $ 0.021 February 3, 2024 — $ 0.035 0.025 10,000,000 $ 0.035 $ 0.036 March 14, 2024 6,650,000 $ 0.035 0.025 9,150,000 $ 0.035 $ 0.036 April 12, 2024 4,925,001,500 $ 0.002 0.058 560,000,200 $ 0.002 $ 0.069 April 12, 2024 3,350,000 $ 0.015 0.045 3,900,000 $ 0.015 $ 0.056 April 12, 2024 200,000 $ 0.030 0.030 200,000 $ 0.030 $ 0.041 May 6, 2024 13,000,000 $ 0.035 0.025 13,000,000 $ 0.035 $ 0.036 May 17, 2024 77,000,000 $ 0.050 0.010 62,000,000 $ 0.050 $ 0.021 May 17, 2024 19,400,000 $ 0.035 0.025 25,400,000 $ 0.035 $ 0.036 June 17, 2024 5,000,000 $ 0.050 0.010 5,000,000 $ 0.050 $ 0.021 June 17, 2024 — $ 0.035 0.025 5,000,000 $ 0.035 $ 0.036 August 16, 2024 2,500,000 $ 0.050 0.010 2,500,000 $ 0.050 $ 0.021 September 6, 2024 1,000,000 $ 0.050 0.010 1,000,000 $ 0.050 $ 0.021 September 17, 2024 — $ 0.035 0.025 5,000,000 $ 0.035 $ 0.036 October 3, 2024 3,500,000 $ 0.035 0.025 3,500,000 $ 0.035 $ 0.036 October 24, 2024 2,000,000 $ 0.035 0.025 2,000,000 $ 0.035 $ 0.036 December 11, 2024 120,000,000 $ 0.015 0.045 120,000,000 $ 0.015 $ 0.056 April 1, 2025 10,000,000 $ 0.035 0.025 10,000,000 $ 0.035 $ 0.036 May 31, 2025 20,000,000 $ 0.035 0.025 20,000,000 $ 0.035 $ 0.036 May 31, 2025 87,300,000 $ 0.050 0.010 87,300,000 $ 0.050 $ 0.021 December 31, 2025 56,500,000 $ 0.050 0.010 — $ — $ — June 30, 2026 26,000,000 $ 0.050 0.010 — $ — $ — September 30, 2026 17,500,000 $ 0.050 0.010 — $ — $ — December 31, 2026 50,000,000 $ 0.050 0.010 — $ — $ — Total 5,497,001,500 $ 0.006 0.054 5,362,701,500 $ 0.004 $ 0.066 Weighted Average Remaining Contractual Life 2.37 1.05 The fair value of the stock options granted and vested was allocated as follows: Schedule of Fair Value of Stock Options Granted-Allocation December 31, 2021 December 31, 2020 Interest expense $ 3,425,120 $ — Product development expense 222,178 1,156,195 Professional expense 169,382 741,564 Selling, general and administration expenses 586,538 930,258 Fair value of the stock options granted $ 4,403,218 $ 2,828,017 The Company uses the fair value method for determining stock-based compensation for all options granted during the fiscal periods. The fair value was determined using the Black-Scholes option pricing model based on the following weighted average assumptions: Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions December 31, 2021 December 31, 2020 Risk-free interest rate 0.87 % 0.20 % Expected life 4.8 4.6 Expected dividends 0 % 0 % Expected volatility 278 % 312 % Forfeiture rate 0 % 0 % The weighted average fair value for the options granted during 2021 was $ 0.06 0.06 |
Related party transactions and
Related party transactions and balances | 12 Months Ended |
Dec. 31, 2021 | |
Related Party Transactions [Abstract] | |
Related party transactions and balances | 8. Related party transactions and balances Schedule of related party transactions Year Ended December 31, 2021 Year Ended December 31, 2020 Related party transactions included within interest expense: Interest expense on promissory notes issued to relatives of the Chairman and Chief Executive Officer of the Company $ 316,504 $ 315,926 Interest expense on lines of credit payable to the Chairman and Chief Executive Officer of the Company and his spouse $ 1,402,187 $ 1,464,077 Interest expense related to the modification of stock options held by the Chairman and Chief Executive Officer of the Company and his spouse related to financing provided $ 1,287,834 $ — Interest expense related to stock options granted to the spouse of the Chairman and Chief Executive Officer of the Company related to the increase of the borrowing limit of a line of credit $ 2,137,286 $ — Related party transactions included within selling, general and administration expenses: Consulting fees to the Chairman and Chief Executive Officer of the Company accrued on the line of credit available to the Company $ 249,600 $ 249,600 Salary for services as VP Corporate and Director of the Singapore subsidiary to the spouse of the Chairman and Chief Executive Officer of the Company $ 33,427 $ — Rent paid to a company controlled by the spouse of the Chairman and immediate family members $ 24,390 $ — Stock options granted to a member of the Board of Directors of the Company $ 304,692 $ — Loss on settlement of debt to a relative of the Chairman and Chief Executive Officer of the Company $ 16,800 $ — Interest on promissory notes payable, interest on lines of credit payable to related parties, management compensation and compensation paid to a relative of a director have been recorded at the exchange amount, which is the amount agreed to by the parties. Stock options granted to related parties and modification of stock options held by related parties have been recorded at their estimated fair value. The Company also issued commitment letters to two creditors who are relatives of the Chairman and Chief Executive Officer of the Company offering them an aggregate 20,000,000 shares of common stock in exchange for the extinguishment of $1,511,377 in promissory notes and interest payable prior to December 31, 2021 (notes 6(b)(v) and 14). These offer letters expired on December 31, 2021 without the parties executing any settlements. On March 18, 2022, the Company extended the offer letters from December 31, 2021 to December 31, 2022 for the settlement of $1,541,000 in promissory notes and interest payable. |
Commitments and contingencies
Commitments and contingencies | 12 Months Ended |
Dec. 31, 2021 | |
Compensation Related Costs [Abstract] | |
Commitments and contingencies | 9. Commitments and contingencies a) Contingencies The Company has had three judgments against it relating to overdue promissory notes and accrued interest, and a fourth creditor has demanded repayment of an overdue promissory note and accrued interest. To date, the Company has not repaid any of these promissory notes and related accrued interest and could be subject to further action. The legal liability, totaling $1,253,182, of these promissory notes and related accrued interest have been fully recognized and recorded by the Company. The Company has accrued interest of $279,457 related to one of these promissory notes. On December 22, 2020, a default judgment was entered against the Company in regard to one of the above noted judgments totaling $551,576, consisting of the principal amount of $300,000 and accrued interest of $251,576, as of the date of the Civil Summons. b) Commitments i. Management contract The Company has a consulting arrangement with Mr. Sidney Chan, Chief Executive Officer and Chairman of the Board of Directors of the Company. Under the terms of the contract, Mr. Chan will be paid $240,000 per annum for services as Chief Executive Officer. The contract can be terminated at any time with thirty days’ notice and the payment of two years’ annual salary. Should the contract be terminated, all debts owed to Mr. Chan and his spouse must be immediately repaid. The initial term of the contract is for one year and automatically renews for continuous one-year terms. Also, under the terms of the contract are the following: 1) Incentive revenue bonus Mr. Chan will be entitled to a 1% net sales commission from the sales of any of the Company’s products at any time during his life, regardless if Mr. Chan is still under contract with the Company. 2) Sale of business If more than 50% of the Company’s stock or assets are sold, Mr. Chan will be compensated for entering into non-compete agreements based on the selling price of the Company or its assets as follows: i. 2% of sales price up to $24,999,999 plus ii. 3% of sales price between $25,000,000 and $49,999,999 plus iii. 4% of sales price between $50,000,000 and $199,999,999 plus iv. 5% of sales price in excess of $200,000,000. ii. Other commitments The Company has a lease agreement for the Singapore office with remaining obligation of $24,450. |
Financial instruments
Financial instruments | 12 Months Ended |
Dec. 31, 2021 | |
Investments, All Other Investments [Abstract] | |
Financial instruments | 10. Financial instruments The Company’s financial instruments consist of cash, accounts payable, interest payable, promissory notes payable to unrelated parties, promissory notes payable to related parties and lines of credit from related parties. a) Fair value The fair values of cash and certain accounts payable approximate their carrying values due to the relatively short periods to maturity of these instruments. Certain accounts payable have been outstanding longer than one year. The Company has recorded imputed interest at a rate of 1% per month over the period the payables have been outstanding for longer than one year, with a corresponding amount recognized in additional paid-in capital. The calculated amount represents the implicit compensation for the use of funds beyond a reasonable term for regular trade payables. For the purposes of fair value analysis, promissory notes payable to related parties and promissory notes payable to unrelated parties can be separated into two classes of financial liabilities: i. Interest-bearing promissory notes, lines of credit and related interest payable; and ii. Non-interest-bearing promissory notes past due. The interest-bearing promissory notes payable are all delinquent and have continued to accrue interest at their stated rates. The Company currently does not have the funds to extinguish these debts and will continue to incur interest until such time as the liabilities are extinguished. There is not an active market for delinquent loans for a Company with a similar financial position. Management asserts the carrying values of the promissory notes and related interest payable are a reasonable estimate of fair value, as they represent the Company’s best estimate of their legal obligation for these debts. As there is no observable market for interest rates on similar promissory notes, the fair value was estimated using Level 2 inputs in the fair value hierarchy. The Company has one non-interest-bearing promissory note payable past due. There is not an active market for default loans not bearing interest nor is there an observable market for lending to companies with a financial position similar to the Company. The Company has recorded imputed interest at a rate of 1% per month over the life of the promissory notes, with a corresponding amount recognized in additional paid-in capital representing the implicit compensation for the use of funds. Management asserts the payment date for these amounts cannot be reasonably determined. Management further asserts there is not a determinable interest rate for arm’s length borrowings based on the current financial position of the Company and asserts the carrying value is the best estimate of the Company’s legal liability and represents the fair value for the promissory note. This would be considered a Level 2 input in the fair value hierarchy. b) Credit risk The financial instrument that potentially subjects the Company to credit risk consists of cash. The Company only has an immaterial cash balance and is not exposed to significant credit risk. c) Market risk Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate due to changes in market prices. Market risk comprises two types of risk: interest rate risk and foreign currency risk. i. Interest rate risk Interest rate risk consists of two components: 1) Cash flow risk To the extent that payments made or received on the Company’s monetary assets and liabilities are affected by changes in the prevailing market interest rates, the Company is exposed to interest rate cash flow risk. The Company is exposed to interest rate cash flow risk on promissory notes payable of $500,000, which incur a variable interest rate of prime plus 1%. A hypothetical change of 1% on interest rates would increase or decrease net loss and comprehensive loss by $5,000. 2) Price risk To the extent that changes in prevailing market interest rates differ from the interest rate on the Company’s monetary assets and liabilities, the Company is exposed to price risk. The Company’s promissory notes payable consist of $100,000 of variable interest rate notes and $5,155,334 of fixed interest rate notes. All of these notes are past due and are currently due on demand while interest continues to accrue. Due to the delinquency of the fixed interest rate promissory notes payable, there is no active market for these instruments and fluctuations in market interest rates do not have a significant impact on their estimated fair values as of December 31, 2021. At December 31, 2021, the effect on net loss and comprehensive loss of a hypothetical change of 1% in market interest rate cannot be reasonably determined. ii. Foreign currency risk The Company incurs certain accounts payable and expenses in Canadian and Singapore dollars and is exposed to fluctuations in changes in exchange rates between the U.S. and Canadian dollars, as well as U.S. and Singapore dollars. As at December 31, 2021, the effect on net loss and comprehensive loss of a hypothetical change of 10% between the U.S. and Canadian dollars and between the U.S. and Singapore dollars would not be material. The Company has not entered into any foreign currency contracts to mitigate risk. |
Income taxes
Income taxes | 12 Months Ended |
Dec. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Income taxes | 11. Income taxes The provision for income taxes differs from the result that would be obtained by applying the statutory tax rate of 21% (2020 - 21%) to income (loss) before income taxes. The difference results from the following items: Scheduled of income tax benefit Year Ended Year Ended Computed expected benefit of income taxes $ (1,773,096 ) $ (1,242,363 ) Stock-based compensation 925,449 593,885 Non-deductible interest expense 334,556 79,418 Expiry of tax credits 773,050 929,432 True up of prior year balances 99,348 1,214,608 Increase (decrease) in valuation allowance (359,307 ) (1,574,980 ) Income tax provision $ — $ — The components of the net deferred income tax asset, the statutory tax rate and the amount of the valuation allowance are as follows: Scheduled of net deferred income tax asset Year Ended Year Ended Net operating loss carried forward $ 35,414,853 $ 37,125,837 Tax rate 21 % 21 % Deferred income tax assets 7,437,119 7,796,426 Valuation allowance (7,437,119 ) (7,796,426 ) Net deferred income tax asset $ — $ — The potential benefit of the deferred income tax asset has not been recognized in these consolidated financial statements since it cannot be assured that it is more likely than not that such benefit will be utilized in future years. The Company believes that the available objective evidence creates sufficient uncertainty regarding the realizability of the deferred income tax assets such that a full valuation allowance has been recorded. The operating losses amounting to $35,414,000 for utilization in the United States, the jurisdiction where they were incurred, will expire between 2022 and 2041 if they are not used. The following table lists the fiscal year in which the loss was incurred and the expiration date of the operating loss carryforwards: Scheduled of operating loss carryforward Fiscal Year Amount Expiry Date 2002 2,504,000 2022 2003 $ 2,776,000 2023 2004 1,251,000 2024 2005 1,304,000 2025 2006 1,532,000 2026 2007 1,480,000 2027 2008 1,600,000 2028 2009 1,723,000 2029 2010 823,000 2030 2011 1,747,000 2031 2012 1,638,000 2032 2013 1,403,000 2033 2014 2,595,000 2034 2015 1,619,000 2035 2016 1,171,000 2036 2017 928,000 2037 2018 720,000 2038 2019 3,921,000 2039 2020 2,236,000 2040 2021 2,443,000 2041 Total $ 35,414,000 |
Operating segments
Operating segments | 12 Months Ended |
Dec. 31, 2021 | |
Segment Reporting [Abstract] | |
Operating segments | 12. Operating segments The Company has one operating segment, development of diabetes hardware and software. The Company’s geographical segments are summarized as follows: Schedule of Operating Segments December 31, December 31, Current and Total Assets Other $ 9,547 $ 7,632 Singapore 110,527 20,000 United States 73,143 101,217 $ 193,217 $ 128,849 Revenue Other $ — $ — Singapore 7,468 — United States — — $ 7,468 $ — Net Loss Other $ (36 ) $ — Singapore (195,308 ) — United States (8,247,971 ) (5,916,017 ) $ (8,443,315 ) $ (5,916,017 ) |
Supplemental information with r
Supplemental information with respect to cash flows | 12 Months Ended |
Dec. 31, 2021 | |
Supplemental Cash Flow Elements [Abstract] | |
Supplemental information with respect to cash flows | 13. Supplemental information with respect to cash flows Scheduled of cash flows information Year Ended Year Ended Common stock issued to retire accounts payable $ 194,186 $ 60,000 Common stock issued to retire interest payable $ 3,000 $ 2,318,542 Common stock issued to retire promissory notes payable $ 20,000 — Common stock issued to retire line of credit payable $ — $ 9,681,458 |
Subsequent events
Subsequent events | 12 Months Ended |
Dec. 31, 2021 | |
Subsequent Events [Abstract] | |
Subsequent events | 14. Subsequent events a) On January 18, 2022, the Company issued a prospectus whereby it distributed 101,025,592 subscription rights to its shareholders to purchase shares of common stock of the Company at a price of $0.05 per share. The rights were set to expire on February 18, 2022, subsequently extended to March 15, 2022, after which time management has 150 days to allocate the rights to other parties. On such case-by-case basis, the Company will allow for the exercise of any such shareholders until April 1, 2022. If fully exercised, this may provide financing of approximately $5,000,000 to the Company. b) On March 18, 2022, the Company extended the commitment letters previously issued to two creditors who are relatives of the Chairman and Chief Executive Officer of the Company offering them an aggregate 20,000,000 shares of common stock in exchange for the extinguishment of $1,541,000 in promissory notes and interest payable (notes 6(b)(v) and 8) from December 31, 2021 to December 31, 2022. c) On March 18, 2022, the Company modified 70,000,000 options previously granted to a number of advisors and independent contractors by extending the vesting period under vesting terms, which have not been met, from September 30, 2021 and December 31, 2021 to December 31, 2022 and from June 30, 2022 to June 30, 2023. d) On March 18, 2022, the Company modified 2,500,000 options previously granted to an individual on October 4, 2021 by modifying the vesting terms of 1,000,000 options from performance conditions to immediately vesting and cancelling the remaining 1,500,000 options. e) Effective March 18, 2022, the Company cancelled 20,000,000 stock options exercisable at $0.015, 10,000,000 stock options exercisable at $0.035 and 28,500,000 exercisable at $0.05 related to the termination of certain contractors. f) The Company received an advance from a shareholder for US$200,000 which will mature and be repayable on July 31, 2022. |
Significant accounting polici_2
Significant accounting policies (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Basis of consolidation | a) Basis of consolidation These consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries, ALRT SG, which was incorporated on May 16, 2020 in Singapore, and Canada Diabetes Solution Centre, Inc., which was incorporated on June 9, 2021 in Alberta, Canada. The Canadian subsidiary is currently inactive. All significant intercompany balances and transactions have been eliminated on consolidation. |
Stock-based compensation | b) Stock-based compensation The Company follows the fair value method of accounting for stock-based compensation. The Company estimates the fair value of share-based payment awards on the date of grant using an option pricing model. The value of the portion of the award that is ultimately expected to vest is recognized as an expense over the requisite service period in the Company’s consolidated financial statements. The Company estimates the fair value of the stock options using the Black-Scholes option pricing model. The Black-Scholes option pricing model requires the input of highly subjective assumptions, including the option’s expected life and the price volatility of the underlying stock. |
Revenue recognition | c) Revenue recognition The Company’s primary source of revenue is from subscription fees. Customers are billed in advance of the start of their subscription and revenue is recognized ratably over each monthly subscription period. The Company is the principal in all its relationships where partners provide monitoring services as well as testing supplies, as the Company retains control over service delivery to its customers. Payments made to the partners, such as for marketing, where the price that the customer pays is established by the partners and is part of the subscription, are recognized as reduction of revenue. |
Foreign currency translation | d) Foreign currency translation The presentation currency of the Company is the U.S. dollar. The functional currency of each of the parent company and its subsidiaries is measured using the currency of the primary economic environment in which that entity operates. The functional currency of ALRT SG is the Singapore dollar, for Canada Diabetes Solution Centre, Inc. it is the Canadian dollar, and for the Company the functional currency it is the U.S. dollar. Transactions and balances Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the date of the transaction. Foreign currency monetary items are translated at the year-end exchange rate. Non-monetary items measured at historical cost continue to be carried at the exchange rate at the date of the transaction. Non-monetary items measured at fair value are reported at the exchange rate at the date when fair values were determined. Exchange differences arising on the translation are recognized in profit or loss in the consolidated statement of operations in the year in which they arise. Parent and subsidiary companies The financial results and position of foreign operations whose functional currency is different from the presentation currency are translated as follows: · Assets and liabilities are translated at year-end exchange rates prevailing at that reporting date; and · Income and expenses are translated at monthly average exchange rates during the year. Exchange differences arising on the translation of foreign operations are transferred directly to the Company’s exchange difference on translating foreign operations in the Consolidated Statements of Operations, and are reported as a separate component of shareholders’ equity included in “Accumulated Other Comprehensive Loss”. These differences are recognized in profit or loss in the Consolidated Statement of Operations in the year in which they are disposed. |
Income taxes | e) Income taxes Income taxes are accounted for under the asset and liability method. Deferred income tax assets and liabilities are recognized for the differences between the consolidated financial statement carrying amounts of existing assets and liabilities and their respective tax basis, and operating loss carry-forwards that are available to be carried forward to future years for tax purposes. Deferred income tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. When it is not considered to be more likely than not that a deferred income tax asset will be realized, a valuation allowance is provided for the excess. The Company follows the accounting requirements associated with uncertainty in income taxes using the provisions of Financial Accounting Standards Board Accounting Standards Codification 740 Income Taxes no |
Use of estimates | f) Use of estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements, the measurement of stock-based compensation, the fair value of financial instruments, and the reported amounts of revenues and expenses during the reporting period. Management believes the estimates are reasonable; however, actual results could differ from those estimates. |
Loss per share | g) Loss per share Basic loss per common share is calculated by dividing net loss by the weighted average number of common shares outstanding during the year. Diluted loss per common share is calculated by dividing the net loss by the sum of the weighted average number of common shares outstanding and the dilutive common equivalent shares outstanding during the year. Common equivalent shares consist of the shares issuable upon exercise of stock options and warrants calculated using the treasury stock method. Common equivalent shares are not included in the calculation of the weighted average number of shares outstanding for diluted loss per common share when the effect would be anti-dilutive. |
Comprehensive income (loss) | h) Comprehensive income (loss) Comprehensive income is the overall change in the net assets of the Company for a period, other than changes attributable to transactions with stockholders. It is made up of net income (loss) and other comprehensive income (loss). Other comprehensive income (loss) consists of net income (loss) and other gains and losses affecting stockholders' equity that under U.S. GAAP are excluded from net income. |
Fair value of financial instruments | i) Fair value of financial instruments The Company’s financial instruments include cash, accounts payable, promissory notes payable, interest payable and lines of credit. The fair values of these financial instruments approximate their carrying values due to the relatively short periods to maturity. For fair value measurement, U.S. GAAP establishes a three-tier hierarchy that prioritizes the inputs used in the valuation methodologies in measuring fair value: Level 1 — observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 — includes other inputs that are directly or indirectly observable in the marketplace. Level 3 — unobservable inputs that are supported by little or no market activity. Cash is measured at Level 1 inputs. |
Recently adopted and issued accounting pronouncements | j) Recently adopted and issued accounting pronouncements Issued The Company has implemented all new accounting pronouncements that are in effect and may impact its consolidated financial statements. The Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its consolidated financial position or consolidated statements of operations. |
Accounts payable and accrued _2
Accounts payable and accrued liabilities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Payables and Accruals [Abstract] | |
Schedule of accounts payable and accrued liabilities | Schedule of accounts payable and accrued liabilities December 31, December 31, Accounts payable $ 806,059 $ 874,754 Accrued liabilities 322,087 238,966 Deferred revenue 2,400 — Accounts payable and accrued liabilities $ 1,130,546 $ 1,113,720 |
Interest, advances and promis_2
Interest, advances and promissory notes payable (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Short-term Debt [Line Items] | |
Schedule of activity of promissory notes payable to related parties | Schedule of activity of promissory notes payable to related parties Promissory Notes Payable to Related Parties December 31, December 31, 2020 Promissory notes payable to relatives of directors collateralized by a general security agreement over all the assets of the Company, past maturity: i. Interest at 1% per month $ 720,619 $ 720,619 ii. Interest at 1.25% per month 51,347 51,347 iii. Interest at the U.S. bank prime rate plus 1% 100,000 100,000 iv. Interest at 0.5% per month 695,000 695,000 Promissory notes payable, unsecured, to relatives of a director, bearing interest at 1% per month, past maturity 1,475,000 1,465,000 Total Promissory Notes Payable to Related Parties $ 3,041,966 $ 3,031,966 |
Schedule of activities of promissory notes payable | Schedule of accounts payable and accrued liabilities December 31, December 31, Accounts payable $ 806,059 $ 874,754 Accrued liabilities 322,087 238,966 Deferred revenue 2,400 — Accounts payable and accrued liabilities $ 1,130,546 $ 1,113,720 |
Schedule of activity of promissory notes payable to unrelated parties | Schedule of activity of promissory notes payable to unrelated parties Promissory Notes Payable to Unrelated Parties December 31, December 31, 2020 Unsecured promissory notes payable to unrelated lenders, past maturity: i. Interest at 1% per month $ 1,317,456 $ 1,337,456 ii. Interest at 0.667% per month 425,000 435,985 iii. Interest at 0.625% per month 150,000 150,000 iv. Non-interest-bearing 270,912 270,912 Promissory notes payable, secured by a guarantee from the Chief Executive Officer, bearing interest at 1% per month, past maturity 50,000 60,000 Total Promissory Notes Payable to Unrelated Parties $ 2,213,368 $ 2,254,353 |
Scheduled of summary of interest payable activity | Scheduled of summary of interest payable activity Interest Payable Carrying Balance, December 31, 2019 $ 5,364,997 Interest incurred on promissory notes payable 528,871 Interest payable retired through issuance of shares (2,318,542 ) Balance, December 31, 2020 3,575,326 Reclassified from promissory notes payable 10,985 Interest incurred on promissory notes payable 527,336 Interest payable retired through issuance of shares (3,000 ) Balance, December 31, 2021 $ 4,110,647 |
Schedule of Interest payable is due to related | Schedule of Interest payable is due to related Interest Payable December 31, December 31, 2020 Related parties $ 1,200,170 $ 873,666 Non-related parties 2,910,477 2,701,660 Interest payable $ 4,110,647 $ 3,575,326 |
Related Party [Member] | |
Short-term Debt [Line Items] | |
Schedule of promissory notes payable to related parties | Schedule of promissory notes payable to related parties Promissory Notes Payable to Related Parties Carrying Value Balance, December 31, 2019 and 2020 $ 3,031,966 Transferred from promissory notes payable pursuant to private transaction 10,000 Balance, December 31, 2021 $ 3,041,966 |
Un Related Party [Member] | |
Short-term Debt [Line Items] | |
Schedule of activities of promissory notes payable | Schedule of activities of promissory notes payable Promissory Notes Payable to Unrelated Parties Carrying Balance, December 31, 2019 and 2020 $ 2,254,353 Reclassified to interest payable (10,985 ) Extinguished through issuance of shares of common stock (note 6) (20,000 ) Transferred to promissory notes payable pursuant to private transaction (10,000 ) Balance, December 31, 2021 $ 2,213,368 |
Lines of credit (Tables)
Lines of credit (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Lines Of Credit | |
Schedule of lines of credit activity | Schedule of lines of credit activity Total Balance, December 31, 2019 $ 19,310,707 Advances received on lines of credit 820,766 Repayment of principal borrowed on lines of credit (note 6(b)) (1,038,967 ) Interest incurred on lines of credit 1,464,077 Repayment of interest on lines of credit (note 6(b)) (8,642,491 ) Balance, December 31, 2020 11,914,092 Advances received on lines of credit 1,149,279 Interest incurred on lines of credit 1,402,187 Repayment of interest on lines of credit (note 6(b)) (456,725 ) Balance, December 31, 2021 $ 14,008,833 |
Schedule of lines of credit | Schedule of lines of credit Creditor Interest Rate Borrowing Limit Repayment Terms Principal Borrowed Accrued Interest Total Outstanding Security Purpose Chairman and CEO 1% per Month $ 10,300,000 Due on Demand $ 10,220,700 $ 1,208,582 $ 11,429,282 General Security over Assets General Corporate Requirements Wife of Chairman 1% per Month 4,000,000 Due on Demand 2,467,705 111,846 2,579,551 General Security over Assets General Corporate Requirements Total $ 14,300,000 $ 12,688,405 $ 1,320,428 $ 14,008,833 As of December 31, 2020, the Company has two lines of credit as follows: Creditor Interest Rate Borrowing Limit Repayment Terms Principal Borrowed Accrued Interest Total Outstanding Security Purpose Chairman and CEO 1% per Month $ 10,300,000 Due on Demand $ 9,539,125 $ 314,967 $ 9,854,092 General Security over Assets General Corporate Requirements Wife of Chairman 1% per Month 2,000,000 Due on Demand 2,000,000 60,000 2,060,000 General Security over Assets General Corporate Requirements Total $ 12,300,000 $ 11,539,125 $ 374,967 $ 11,914,092 |
Additional paid-in capital (Tab
Additional paid-in capital (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Additional Paid-in Capital | |
Schedule of share-based compensation, stock options, activity | Schedule of share-based compensation, stock options, activity Year Ended Year Ended Number of Options Weighted Average Exercise Price Number of Options Weighted Average Exercise Price Outstanding, beginning of year 5,362,701,500 0.004 5,236,401,500 $ 0.003 Granted 165,000,000 0.050 139,800,000 $ 0.047 Exercised (800,000 ) (0.015 ) — $ — Cancelled (29,900,000 ) (0.034 ) (13,500,000 ) $ (0.034 ) Outstanding, end of year 5,497,001,500 0.006 5,362,701,500 $ 0.004 Exercisable, end of year 5,221,701,500 0.004 5,202,701,500 $ 0.003 |
Schedule of Options Outstanding | Schedule of Options Outstanding December 31, 2021 December 31, 2020 Expiry Date Options Exercise Price Intrinsic Value Options Exercise Price Intrinsic Value July 1, 2021 — $ 0.002 0.058 4,365,001,300 $ 0.002 $ 0.069 November 27, 2022 5,600,000 $ 0.015 0.045 6,950,000 $ 0.015 $ 0.056 January 31, 2023 40,500,000 $ 0.015 0.045 40,500,000 $ 0.015 $ 0.056 June 13, 2023 5,000,000 $ 0.015 0.045 5,000,000 $ 0.015 $ 0.056 October 1, 2023 — $ 0.050 0.010 300,000 $ 0.050 $ 0.021 February 3, 2024 — $ 0.035 0.025 10,000,000 $ 0.035 $ 0.036 March 14, 2024 6,650,000 $ 0.035 0.025 9,150,000 $ 0.035 $ 0.036 April 12, 2024 4,925,001,500 $ 0.002 0.058 560,000,200 $ 0.002 $ 0.069 April 12, 2024 3,350,000 $ 0.015 0.045 3,900,000 $ 0.015 $ 0.056 April 12, 2024 200,000 $ 0.030 0.030 200,000 $ 0.030 $ 0.041 May 6, 2024 13,000,000 $ 0.035 0.025 13,000,000 $ 0.035 $ 0.036 May 17, 2024 77,000,000 $ 0.050 0.010 62,000,000 $ 0.050 $ 0.021 May 17, 2024 19,400,000 $ 0.035 0.025 25,400,000 $ 0.035 $ 0.036 June 17, 2024 5,000,000 $ 0.050 0.010 5,000,000 $ 0.050 $ 0.021 June 17, 2024 — $ 0.035 0.025 5,000,000 $ 0.035 $ 0.036 August 16, 2024 2,500,000 $ 0.050 0.010 2,500,000 $ 0.050 $ 0.021 September 6, 2024 1,000,000 $ 0.050 0.010 1,000,000 $ 0.050 $ 0.021 September 17, 2024 — $ 0.035 0.025 5,000,000 $ 0.035 $ 0.036 October 3, 2024 3,500,000 $ 0.035 0.025 3,500,000 $ 0.035 $ 0.036 October 24, 2024 2,000,000 $ 0.035 0.025 2,000,000 $ 0.035 $ 0.036 December 11, 2024 120,000,000 $ 0.015 0.045 120,000,000 $ 0.015 $ 0.056 April 1, 2025 10,000,000 $ 0.035 0.025 10,000,000 $ 0.035 $ 0.036 May 31, 2025 20,000,000 $ 0.035 0.025 20,000,000 $ 0.035 $ 0.036 May 31, 2025 87,300,000 $ 0.050 0.010 87,300,000 $ 0.050 $ 0.021 December 31, 2025 56,500,000 $ 0.050 0.010 — $ — $ — June 30, 2026 26,000,000 $ 0.050 0.010 — $ — $ — September 30, 2026 17,500,000 $ 0.050 0.010 — $ — $ — December 31, 2026 50,000,000 $ 0.050 0.010 — $ — $ — Total 5,497,001,500 $ 0.006 0.054 5,362,701,500 $ 0.004 $ 0.066 Weighted Average Remaining Contractual Life 2.37 1.05 |
Schedule of Fair Value of Stock Options Granted-Allocation | Schedule of Fair Value of Stock Options Granted-Allocation December 31, 2021 December 31, 2020 Interest expense $ 3,425,120 $ — Product development expense 222,178 1,156,195 Professional expense 169,382 741,564 Selling, general and administration expenses 586,538 930,258 Fair value of the stock options granted $ 4,403,218 $ 2,828,017 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions December 31, 2021 December 31, 2020 Risk-free interest rate 0.87 % 0.20 % Expected life 4.8 4.6 Expected dividends 0 % 0 % Expected volatility 278 % 312 % Forfeiture rate 0 % 0 % |
Related party transactions an_2
Related party transactions and balances (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Related Party Transactions [Abstract] | |
Schedule of related party transactions | Schedule of related party transactions Year Ended December 31, 2021 Year Ended December 31, 2020 Related party transactions included within interest expense: Interest expense on promissory notes issued to relatives of the Chairman and Chief Executive Officer of the Company $ 316,504 $ 315,926 Interest expense on lines of credit payable to the Chairman and Chief Executive Officer of the Company and his spouse $ 1,402,187 $ 1,464,077 Interest expense related to the modification of stock options held by the Chairman and Chief Executive Officer of the Company and his spouse related to financing provided $ 1,287,834 $ — Interest expense related to stock options granted to the spouse of the Chairman and Chief Executive Officer of the Company related to the increase of the borrowing limit of a line of credit $ 2,137,286 $ — Related party transactions included within selling, general and administration expenses: Consulting fees to the Chairman and Chief Executive Officer of the Company accrued on the line of credit available to the Company $ 249,600 $ 249,600 Salary for services as VP Corporate and Director of the Singapore subsidiary to the spouse of the Chairman and Chief Executive Officer of the Company $ 33,427 $ — Rent paid to a company controlled by the spouse of the Chairman and immediate family members $ 24,390 $ — Stock options granted to a member of the Board of Directors of the Company $ 304,692 $ — Loss on settlement of debt to a relative of the Chairman and Chief Executive Officer of the Company $ 16,800 $ — |
Income taxes (Tables)
Income taxes (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Scheduled of income tax benefit | Scheduled of income tax benefit Year Ended Year Ended Computed expected benefit of income taxes $ (1,773,096 ) $ (1,242,363 ) Stock-based compensation 925,449 593,885 Non-deductible interest expense 334,556 79,418 Expiry of tax credits 773,050 929,432 True up of prior year balances 99,348 1,214,608 Increase (decrease) in valuation allowance (359,307 ) (1,574,980 ) Income tax provision $ — $ — |
Scheduled of net deferred income tax asset | Scheduled of net deferred income tax asset Year Ended Year Ended Net operating loss carried forward $ 35,414,853 $ 37,125,837 Tax rate 21 % 21 % Deferred income tax assets 7,437,119 7,796,426 Valuation allowance (7,437,119 ) (7,796,426 ) Net deferred income tax asset $ — $ — |
Scheduled of operating loss carryforward | Scheduled of operating loss carryforward Fiscal Year Amount Expiry Date 2002 2,504,000 2022 2003 $ 2,776,000 2023 2004 1,251,000 2024 2005 1,304,000 2025 2006 1,532,000 2026 2007 1,480,000 2027 2008 1,600,000 2028 2009 1,723,000 2029 2010 823,000 2030 2011 1,747,000 2031 2012 1,638,000 2032 2013 1,403,000 2033 2014 2,595,000 2034 2015 1,619,000 2035 2016 1,171,000 2036 2017 928,000 2037 2018 720,000 2038 2019 3,921,000 2039 2020 2,236,000 2040 2021 2,443,000 2041 Total $ 35,414,000 |
Operating segments (Tables)
Operating segments (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Segment Reporting [Abstract] | |
Schedule of Operating Segments | Schedule of Operating Segments December 31, December 31, Current and Total Assets Other $ 9,547 $ 7,632 Singapore 110,527 20,000 United States 73,143 101,217 $ 193,217 $ 128,849 Revenue Other $ — $ — Singapore 7,468 — United States — — $ 7,468 $ — Net Loss Other $ (36 ) $ — Singapore (195,308 ) — United States (8,247,971 ) (5,916,017 ) $ (8,443,315 ) $ (5,916,017 ) |
Supplemental information with_2
Supplemental information with respect to cash flows (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Supplemental Cash Flow Elements [Abstract] | |
Scheduled of cash flows information | Scheduled of cash flows information Year Ended Year Ended Common stock issued to retire accounts payable $ 194,186 $ 60,000 Common stock issued to retire interest payable $ 3,000 $ 2,318,542 Common stock issued to retire promissory notes payable $ 20,000 — Common stock issued to retire line of credit payable $ — $ 9,681,458 |
Basis of presentation, nature_2
Basis of presentation, nature of operations and going concern (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Accounting Policies [Abstract] | ||
Net loss | $ 8,443,315 | $ 5,916,017 |
Working capital deficit | 24,312,143 | 21,760,608 |
Accumulated deficit | 102,015,077 | 93,571,762 |
Liabilities | $ 24,505,360 | $ 21,889,457 |
Significant accounting polici_3
Significant accounting policies (Details Narrative) | Dec. 31, 2021USD ($) |
Accounting Policies [Abstract] | |
Uncertain tax positions | $ 0 |
Accounts payable and accrued _3
Accounts payable and accrued liabilities (Details) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Payables and Accruals [Abstract] | ||
Accounts payable | $ 806,059 | $ 874,754 |
Accrued liabilities | 322,087 | 238,966 |
Deferred revenue | 2,400 | |
Accounts payable and accrued liabilities | $ 1,130,546 | $ 1,113,720 |
Interest, advances and promis_3
Interest, advances and promissory notes payable (Details) - Related Party [Member] | 12 Months Ended |
Dec. 31, 2021USD ($) | |
Short-term Debt [Line Items] | |
Carrying value at beginning | $ 3,031,966 |
Transferred from promissory notes payable pursuant to private transaction | 10,000 |
Carrying value at ending | $ 3,041,966 |
Interest, advances and promis_4
Interest, advances and promissory notes payable (Details 1) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Promissory notes payable to relatives of directors collateralized by a general security agreement over all the assets of the Company, past maturity: | ||
i. Interest at 1% per month | $ 720,619 | $ 720,619 |
ii. Interest at 1.25% per month | 51,347 | 51,347 |
iii. Interest at the U.S. bank prime rate plus 1% | 100,000 | 100,000 |
iv. Interest at 0.5% per month | 695,000 | 695,000 |
Promissory notes payable, unsecured, to relatives of a director, bearing interest at 1% per month, past maturity | 1,475,000 | 1,465,000 |
Total Promissory Notes Payable to Related Parties | $ 3,041,966 | $ 3,031,966 |
Interest, advances and promis_5
Interest, advances and promissory notes payable (Details 2) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Short-term Debt [Line Items] | ||
Reclassified to interest payable | $ 527,336 | $ 528,871 |
Un Related Party [Member] | ||
Short-term Debt [Line Items] | ||
Balance at beginning | 2,213,368 | 2,254,353 |
Reclassified to interest payable | (10,985) | |
Extinguished through issuance of shares of common stock (note 6) | (20,000) | |
Transferred from promissory notes payable pursuant to private transaction | (10,000) | |
Balance at ending | $ 2,213,368 | $ 2,254,353 |
Interest, advances and promis_6
Interest, advances and promissory notes payable (Details 3) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Unsecured promissory notes payable to unrelated lenders, past maturity: | ||
i. Interest at 1% per month | $ 1,317,456 | $ 1,337,456 |
ii. Interest at 0.667% per month | 425,000 | 435,985 |
iii. Interest at 0.625% per month | 150,000 | 150,000 |
iv. Non-interest-bearing | 270,912 | 270,912 |
Promissory notes payable, secured by a guarantee from the Chief Executive Officer, bearing interest at 1% per month, past maturity | 50,000 | 60,000 |
Total Promissory Notes Payable to Unrelated Parties | $ 2,213,368 | $ 2,254,353 |
Interest, advances and promis_7
Interest, advances and promissory notes payable (Details 4) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Interest Advances And Promissory Notes Payable | ||
Beginning Balance | $ 3,575,326 | $ 5,364,997 |
Reclassified from promissory notes payable | 10,985 | |
Interest incurred on promissory notes payable | 527,336 | 528,871 |
Interest payable retired through issuance of shares | (3,000) | (2,318,542) |
Ending Balance | $ 4,110,647 | $ 3,575,326 |
Interest, advances and promis_8
Interest, advances and promissory notes payable (Details 5) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Interest Advances And Promissory Notes Payable | ||
Related parties | $ 1,200,170 | $ 873,666 |
Non-related parties | 2,910,477 | 2,701,660 |
Interest payable | $ 4,110,647 | $ 3,575,326 |
Interest, advances and promis_9
Interest, advances and promissory notes payable (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Interest Advances And Promissory Notes Payable | ||
Interest expense | $ 5,468,328 | $ 2,116,466 |
Lines of credit (Details)
Lines of credit (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Lines Of Credit | ||
Balance at beginning | $ 11,914,092 | $ 19,310,707 |
Advances received on lines of credit | 1,149,279 | 820,766 |
Repayment of principal borrowed on lines of credit | (1,038,967) | |
Interest incurred on lines of credit | 1,402,187 | 1,464,077 |
Repayment of interest on lines of credit | (456,725) | (8,642,491) |
Balance at ending | $ 14,008,833 | $ 11,914,092 |
Lines of Credit (Details 1)
Lines of Credit (Details 1) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Line of Credit Facility [Line Items] | ||
Borrowing Limit | $ 14,300,000 | $ 12,300,000 |
Principal Borrowed | 12,688,405 | 11,539,125 |
Accrued Interest | 1,320,428 | 374,967 |
Total Outstanding | $ 14,008,833 | $ 11,914,092 |
Chairman And C E O [Member] | ||
Line of Credit Facility [Line Items] | ||
Interest Rate | 1% per Month | 1% per Month |
Borrowing Limit | $ 10,300,000 | $ 10,300,000 |
Repayment Terms | Due on Demand | Due on Demand |
Principal Borrowed | $ 10,220,700 | $ 9,539,125 |
Accrued Interest | 1,208,582 | 314,967 |
Total Outstanding | $ 11,429,282 | $ 9,854,092 |
Security | General Security over Assets | General Security over Assets |
Purpose | General Corporate Requirements | General Corporate Requirements |
Wife Of Chairman [Member] | ||
Line of Credit Facility [Line Items] | ||
Interest Rate | 1% per Month | 1% per Month |
Borrowing Limit | $ 4,000,000 | $ 2,000,000 |
Repayment Terms | Due on Demand | Due on Demand |
Principal Borrowed | $ 2,467,705 | $ 2,000,000 |
Accrued Interest | 111,846 | 60,000 |
Total Outstanding | $ 2,579,551 | $ 2,060,000 |
Security | General Security over Assets | General Security over Assets |
Purpose | General Corporate Requirements | General Corporate Requirements |
Additional paid-in capital (Det
Additional paid-in capital (Details) - $ / shares | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Additional Paid-in Capital | ||
Outstanding, beginning of period | 5,362,701,500 | 5,236,401,500 |
Average Exercise Price, beginning | $ 0.004 | $ 0.003 |
Granted | 165,000,000 | 139,800,000 |
Granted, per share | $ 0.050 | $ 0.047 |
Exercised | (800,000) | |
Exercised per share | $ (0.015) | |
Cancelled | (29,900,000) | (13,500,000) |
Cancelled per share | $ (0.034) | $ (0.034) |
Outstanding, end of period | 5,497,001,500 | 5,362,701,500 |
Average Exercise price, ending | $ 0.006 | $ 0.004 |
Exercisable, end of period | 5,221,701,500 | 5,202,701,500 |
Exercisable, end of period | $ 0.004 | $ 0.003 |
Additional Paid-in Capital (D_2
Additional Paid-in Capital (Details 1) - $ / shares | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Offsetting Assets [Line Items] | ||
Options | 5,497,001,500 | 5,362,701,500 |
Exercise Price | $ 0.006 | $ 0.004 |
Intrinsic Value | $ 0.054 | $ 0.066 |
Weighted Average Remaining Contractual Life | 2 years 4 months 13 days | 1 year 18 days |
Options 1 [Member] | ||
Offsetting Assets [Line Items] | ||
Options | 4,365,001,300 | |
Exercise Price | $ 0.002 | $ 0.002 |
Intrinsic Value | $ 0.058 | $ 0.069 |
Options 2 [Member] | ||
Offsetting Assets [Line Items] | ||
Options | 5,600,000 | 6,950,000 |
Exercise Price | $ 0.015 | $ 0.015 |
Intrinsic Value | $ 0.045 | $ 0.056 |
Options 3 [Member] | ||
Offsetting Assets [Line Items] | ||
Options | 40,500,000 | 40,500,000 |
Exercise Price | $ 0.015 | $ 0.015 |
Intrinsic Value | $ 0.045 | $ 0.056 |
Options 4 [Member] | ||
Offsetting Assets [Line Items] | ||
Options | 5,000,000 | 5,000,000 |
Exercise Price | $ 0.015 | $ 0.015 |
Intrinsic Value | $ 0.045 | $ 0.056 |
Options 5 [Member] | ||
Offsetting Assets [Line Items] | ||
Options | 300,000 | |
Exercise Price | $ 0.050 | $ 0.050 |
Intrinsic Value | $ 0.010 | $ 0.021 |
Options 6 [Member] | ||
Offsetting Assets [Line Items] | ||
Options | 10,000,000 | |
Exercise Price | $ 0.035 | $ 0.035 |
Intrinsic Value | $ 0.025 | $ 0.036 |
Options 7 [Member] | ||
Offsetting Assets [Line Items] | ||
Options | 6,650,000 | 9,150,000 |
Exercise Price | $ 0.035 | $ 0.035 |
Intrinsic Value | $ 0.025 | $ 0.036 |
Options 8 [Member] | ||
Offsetting Assets [Line Items] | ||
Options | 4,925,001,500 | 560,000,200 |
Exercise Price | $ 0.002 | $ 0.002 |
Intrinsic Value | $ 0.058 | $ 0.069 |
Options 9 [Member] | ||
Offsetting Assets [Line Items] | ||
Options | 3,350,000 | 3,900,000 |
Exercise Price | $ 0.015 | $ 0.015 |
Intrinsic Value | $ 0.045 | $ 0.056 |
Options 10 [Member] | ||
Offsetting Assets [Line Items] | ||
Options | 200,000 | 200,000 |
Exercise Price | $ 0.030 | $ 0.030 |
Intrinsic Value | $ 0.030 | $ 0.041 |
Options 11 [Member] | ||
Offsetting Assets [Line Items] | ||
Options | 13,000,000 | 13,000,000 |
Exercise Price | $ 0.035 | $ 0.035 |
Intrinsic Value | $ 0.025 | $ 0.036 |
Options 12 [Member] | ||
Offsetting Assets [Line Items] | ||
Options | 77,000,000 | 62,000,000 |
Exercise Price | $ 0.050 | $ 0.050 |
Intrinsic Value | $ 0.010 | $ 0.021 |
Options 13 [Member] | ||
Offsetting Assets [Line Items] | ||
Options | 19,400,000 | 25,400,000 |
Exercise Price | $ 0.035 | $ 0.035 |
Intrinsic Value | $ 0.025 | $ 0.036 |
Options 14 [Member] | ||
Offsetting Assets [Line Items] | ||
Options | 5,000,000 | 5,000,000 |
Exercise Price | $ 0.050 | $ 0.050 |
Intrinsic Value | $ 0.010 | $ 0.021 |
Options 15 [Member] | ||
Offsetting Assets [Line Items] | ||
Options | 5,000,000 | |
Exercise Price | $ 0.035 | $ 0.035 |
Intrinsic Value | $ 0.025 | $ 0.036 |
Options 16 [Member] | ||
Offsetting Assets [Line Items] | ||
Options | 2,500,000 | 2,500,000 |
Exercise Price | $ 0.050 | $ 0.050 |
Intrinsic Value | $ 0.010 | $ 0.021 |
Options 17 [Member] | ||
Offsetting Assets [Line Items] | ||
Options | 1,000,000 | 1,000,000 |
Exercise Price | $ 0.050 | $ 0.050 |
Intrinsic Value | $ 0.010 | $ 0.021 |
Options 18 [Member] | ||
Offsetting Assets [Line Items] | ||
Options | 5,000,000 | |
Exercise Price | $ 0.035 | $ 0.035 |
Intrinsic Value | $ 0.025 | $ 0.036 |
Options 19 [Member] | ||
Offsetting Assets [Line Items] | ||
Options | 3,500,000 | 3,500,000 |
Exercise Price | $ 0.035 | $ 0.035 |
Intrinsic Value | $ 0.025 | $ 0.036 |
Options 20 [Member] | ||
Offsetting Assets [Line Items] | ||
Options | 2,000,000 | 2,000,000 |
Exercise Price | $ 0.035 | $ 0.035 |
Intrinsic Value | $ 0.025 | $ 0.036 |
Options 21 [Member] | ||
Offsetting Assets [Line Items] | ||
Options | 120,000,000 | 120,000,000 |
Exercise Price | $ 0.015 | $ 0.015 |
Intrinsic Value | $ 0.045 | $ 0.056 |
Options 22 [Member] | ||
Offsetting Assets [Line Items] | ||
Options | 10,000,000 | 10,000,000 |
Exercise Price | $ 0.035 | $ 0.035 |
Intrinsic Value | $ 0.025 | $ 0.036 |
Options 23 [Member] | ||
Offsetting Assets [Line Items] | ||
Options | 20,000,000 | 20,000,000 |
Exercise Price | $ 0.035 | $ 0.035 |
Intrinsic Value | $ 0.025 | $ 0.036 |
Options 24 [Member] | ||
Offsetting Assets [Line Items] | ||
Options | 87,300,000 | 87,300,000 |
Exercise Price | $ 0.050 | $ 0.050 |
Intrinsic Value | $ 0.010 | $ 0.021 |
Options 25 [Member] | ||
Offsetting Assets [Line Items] | ||
Options | 56,500,000 | |
Exercise Price | $ 0.050 | |
Intrinsic Value | $ 0.010 | |
Options 26 [Member] | ||
Offsetting Assets [Line Items] | ||
Options | 26,000,000 | |
Exercise Price | $ 0.050 | |
Intrinsic Value | $ 0.010 | |
Options 27 [Member] | ||
Offsetting Assets [Line Items] | ||
Options | 17,500,000 | |
Exercise Price | $ 0.050 | |
Intrinsic Value | $ 0.010 | |
Options 28 [Member] | ||
Offsetting Assets [Line Items] | ||
Options | 50,000,000 | |
Exercise Price | $ 0.050 | |
Intrinsic Value | $ 0.010 |
Additional paid-in capital (D_3
Additional paid-in capital (Details 2) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Additional Paid-in Capital | ||
Interest expense | $ 3,425,120 | |
Product development expense | 222,178 | 1,156,195 |
Professional expense | 169,382 | 741,564 |
Selling, general and administration expenses | 586,538 | 930,258 |
Fair value of the stock options granted | $ 4,403,218 | $ 2,828,017 |
Additional Paid-in Capital (D_4
Additional Paid-in Capital (Details 3) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Additional Paid-in Capital | ||
Risk-free interest rate | 0.87% | 0.20% |
Expected life | 4 years 9 months 18 days | 4 years 7 months 6 days |
Expected dividends | $ 0 | $ 0 |
Expected volatility | 278.00% | 312.00% |
Forfeiture rate | $ 0 | $ 0 |
Additional paid-in capital (D_5
Additional paid-in capital (Details Narrative) - $ / shares | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Additional Paid-in Capital | ||
Weighted average fair value options granted | $ 0.06 | $ 0.06 |
Related Party Transactions an_3
Related Party Transactions and Balances (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Related party transactions included within interest expense: | ||
Interest expense on promissory notes issued to relatives of the Chairman and Chief Executive Officer of the Company | $ 316,504 | $ 315,926 |
Interest expense on lines of credit payable to the Chairman and Chief Executive Officer of the Company and his spouse | 1,402,187 | 1,464,077 |
Interest expense related to the modification of stock options held by the Chairman and Chief Executive Officer of the Company and his spouse related to financing provided | 1,287,834 | |
Interest expense related to stock options granted to the spouse of the Chairman and Chief Executive Officer of the Company related to the increase of the borrowing limit of a line of credit | 2,137,286 | |
Related party transactions included within selling, general and administration expenses: | ||
Consulting fees to the Chairman and Chief Executive Officer of the Company accrued on the line of credit available to the Company | 249,600 | 249,600 |
Salary for services as VP Corporate and Director of the Singapore subsidiary to the spouse of the Chairman and Chief Executive Officer of the Company | 33,427 | |
Rent paid to a company controlled by the spouse of the Chairman and immediate family members | 24,390 | |
Stock options granted to a member of the Board of Directors of the Company | 304,692 | |
Loss on settlement of debt to a relative of the Chairman and Chief Executive Officer of the Company | $ 16,800 |
Income taxes (Details)
Income taxes (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | ||
Computed expected benefit of income taxes | $ (1,773,096) | $ (1,242,363) |
Stock-based compensation | 925,449 | 593,885 |
Non-deductible interest expense | 334,556 | 79,418 |
Expiry of tax credits | 773,050 | 929,432 |
True up of prior year balances | 99,348 | 1,214,608 |
Increase (decrease) in valuation allowance | (359,307) | (1,574,980) |
Income tax provision |
Income taxes (Details 1)
Income taxes (Details 1) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | ||
Net operating loss carried forward | $ 35,414,853 | $ 37,125,837 |
Tax rate | 21.00% | 21.00% |
Deferred income tax assets | $ 7,437,119 | $ 7,796,426 |
Valuation allowance | (7,437,119) | (7,796,426) |
Net deferred income tax asset |
Income taxes (Details 2)
Income taxes (Details 2) | Dec. 31, 2021USD ($) |
Operating Loss Carryforwards [Line Items] | |
Opearting Loss Carryforward | $ 35,414,000 |
Tax Year 2002 [Member] | |
Operating Loss Carryforwards [Line Items] | |
Opearting Loss Carryforward | 2,504,000 |
Tax Year 2003 [Member] | |
Operating Loss Carryforwards [Line Items] | |
Opearting Loss Carryforward | 2,776,000 |
Tax Year 2004 [Member] | |
Operating Loss Carryforwards [Line Items] | |
Opearting Loss Carryforward | 1,251,000 |
Tax Year 2005 [Member] | |
Operating Loss Carryforwards [Line Items] | |
Opearting Loss Carryforward | 1,304,000 |
Tax Year 2006 [Member] | |
Operating Loss Carryforwards [Line Items] | |
Opearting Loss Carryforward | 1,532,000 |
Tax Year 2007 [Member] | |
Operating Loss Carryforwards [Line Items] | |
Opearting Loss Carryforward | 1,480,000 |
Tax Year 2008 [Member] | |
Operating Loss Carryforwards [Line Items] | |
Opearting Loss Carryforward | 1,600,000 |
Tax Year 2009 [Member] | |
Operating Loss Carryforwards [Line Items] | |
Opearting Loss Carryforward | 1,723,000 |
Tax Year 2010 [Member] | |
Operating Loss Carryforwards [Line Items] | |
Opearting Loss Carryforward | 823,000 |
Tax Year 2011 [Member] | |
Operating Loss Carryforwards [Line Items] | |
Opearting Loss Carryforward | 1,747,000 |
Tax Year 2012 [Member] | |
Operating Loss Carryforwards [Line Items] | |
Opearting Loss Carryforward | 1,638,000 |
Tax Year 2013 [Member] | |
Operating Loss Carryforwards [Line Items] | |
Opearting Loss Carryforward | 1,403,000 |
Tax Year 2014 [Member] | |
Operating Loss Carryforwards [Line Items] | |
Opearting Loss Carryforward | 2,595,000 |
Tax Year 2015 [Member] | |
Operating Loss Carryforwards [Line Items] | |
Opearting Loss Carryforward | 1,619,000 |
Tax Year 2016 [Member] | |
Operating Loss Carryforwards [Line Items] | |
Opearting Loss Carryforward | 1,171,000 |
Tax Year 2017 [Member] | |
Operating Loss Carryforwards [Line Items] | |
Opearting Loss Carryforward | 928,000 |
Tax Year 2018 [Member] | |
Operating Loss Carryforwards [Line Items] | |
Opearting Loss Carryforward | 720,000 |
Tax Year 2019 [Member] | |
Operating Loss Carryforwards [Line Items] | |
Opearting Loss Carryforward | 3,921,000 |
Tax Year 2020 [Member] | |
Operating Loss Carryforwards [Line Items] | |
Opearting Loss Carryforward | 2,236,000 |
Tax Year 2021 [Member] | |
Operating Loss Carryforwards [Line Items] | |
Opearting Loss Carryforward | $ 2,443,000 |
Operating segments (Details)
Operating segments (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Current and Total Assets | $ 193,217 | $ 128,849 |
Revenue | 7,468 | |
Net Loss | (8,443,315) | (5,916,017) |
Other [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Current and Total Assets | 9,547 | 7,632 |
Revenue | ||
Net Loss | (36) | |
SINGAPORE | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Current and Total Assets | 110,527 | 20,000 |
Revenue | 7,468 | |
Net Loss | (195,308) | |
UNITED STATES | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Current and Total Assets | 73,143 | 101,217 |
Revenue | ||
Net Loss | $ (8,247,971) | $ (5,916,017) |
Supplemental information with_3
Supplemental information with respect to cash flows (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Supplemental Cash Flow Elements [Abstract] | ||
Common stock issued to retire accounts payable | $ 194,186 | $ 60,000 |
Common stock issued to retire interest payable | 3,000 | 2,318,542 |
Common stock issued to retire promissory notes payable | 20,000 | |
Common stock issued to retire line of credit payable | $ 9,681,458 |