Cover
Cover - shares | 6 Months Ended | |
Jun. 30, 2022 | Aug. 19, 2022 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Jun. 30, 2022 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2022 | |
Current Fiscal Year End Date | --12-31 | |
Entity File Number | 001-40681 | |
Entity Registrant Name | Worksport Ltd | |
Entity Central Index Key | 0001096275 | |
Entity Tax Identification Number | 35-2696895 | |
Entity Incorporation, State or Country Code | NV | |
Entity Address, Address Line One | 55 East Beaver Creek Rd #40 | |
Entity Address, Address Line Two | Richmond Hill | |
Entity Address, City or Town | Ontario | |
Entity Address, Country | CA | |
Entity Address, Postal Zip Code | L4B 1E5 | |
City Area Code | (888) | |
Local Phone Number | 554-8789 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 17,086,266 | |
Common Stock [Member] | ||
Title of 12(b) Security | Common Stock | |
Trading Symbol | WKSP | |
Security Exchange Name | NASDAQ | |
Warrants [Member] | ||
Title of 12(b) Security | Warrants | |
Trading Symbol | WKSPW | |
Security Exchange Name | NASDAQ |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) | Jun. 30, 2022 | Dec. 31, 2021 |
Current Assets | ||
Cash and cash equivalents | $ 19,137,184 | $ 28,567,333 |
Restricted Cash | 621,169 | |
Accounts receivable net | 66,535 | 62,684 |
Other receivable | 199,918 | 184,721 |
Inventory (note 3) | 1,102,712 | 501,772 |
Prepaid expenses and deposits (note 4) | 4,525,860 | 4,715,495 |
Total Current Assets | 25,653,378 | 34,032,005 |
Investment (note 12) | 24,423 | 24,423 |
Property and Equipment, net | 10,238,126 | 1,128,799 |
Right-of-use asset, net (note 13) | 1,424,599 | 515,819 |
Intangible Assets, net | 876,936 | 593,053 |
Total Assets | 38,217,462 | 36,294,099 |
Current Liabilities | ||
Accounts payable and accrued liabilities | 1,746,055 | 1,144,526 |
Payroll taxes payable | 112,189 | |
Related party loan (note 8) | 49,646 | 35,547 |
Promissory notes payable (note 5) | 263,211 | 263,211 |
Loan payable (note 14) | 28,387 | |
Current lease liability (note 13) | 366,579 | 212,929 |
Total Current Liabilities | 2,425,491 | 1,796,789 |
Loan payable (note 14) | 5,300,000 | |
Long Term – Lease Liability (note 13) | 1,084,216 | 316,988 |
Total Liabilities | 8,809,707 | 2,113,777 |
Shareholders’ Equity (Deficit) | ||
Series A & B Preferred Stock, $0.0001 par value, 1,100,000 shares authorized, 100 Series A and 0 Series B issued and outstanding, respectively (note 7) | ||
Common stock, $0.0001 par value, 299,000,000 shares authorized, 17,041,055 and 3,820,619 shares issued and outstanding, respectively (note 7) | 1,705 | 1,696 |
Additional paid-in capital | 55,956,398 | 54,608,472 |
Share subscriptions receivable | (1,577) | (1,577) |
Share subscriptions payable | 499,542 | 430,116 |
Accumulated deficit | (27,039,733) | (20,849,805) |
Cumulative translation adjustment | (8,580) | (8,580) |
Total Shareholders’ Equity (Deficit) | 29,407,755 | 34,180,322 |
Total Liabilities and Shareholders’ Equity (Deficit) | $ 38,217,462 | $ 36,294,099 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares | Jun. 30, 2022 | Dec. 31, 2021 |
Common stock, par value | $ 0.0001 | $ 0.0001 |
Common Stock, Shares Authorized | 299,000,000 | 299,000,000 |
Common stock, shares issued | 17,041,055 | 3,820,619 |
Common stock, shares outstanding | 17,041,055 | 3,820,619 |
Series A and B Preferred Stock [Member] | ||
Preferred Stock, par value | $ 0.0001 | $ 0.0001 |
Preferred Stock, shares authorized | 1,100,000 | 1,100,000 |
Series A Preferred Stock [Member] | ||
Preferred Stock, shares issued | 100 | 100 |
Preferred Stock, shares outstanding | 100 | 100 |
Series B Preferred Stock [Member] | ||
Preferred Stock, par value | $ 0.0001 | $ 0.0001 |
Preferred Stock, shares issued | 0 | 0 |
Preferred Stock, shares outstanding | 0 | 0 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Income Statement [Abstract] | ||||
Net Sales | $ 11,305 | $ 186,239 | $ 59,089 | $ 193,889 |
Cost of Goods Sold | 7,987 | 137,333 | 45,964 | 197,554 |
Gross Profit (Loss) | 3,318 | 48,906 | 13,125 | (3,665) |
Operating Expenses | ||||
General and administrative | 850,915 | 272,022 | 1,451,773 | 406,306 |
Sales and marketing | 646,367 | 165,156 | 1,366,855 | 327,807 |
Professional fees (note 20) | 1,813,875 | 410,485 | 3,301,454 | 1,057,599 |
(Gain) loss on foreign exchange | 352 | 3,799 | (986) | 9,005 |
Total operating expenses | 3,311,509 | 851,462 | 6,119,096 | 1,800,717 |
Loss from operations | (3,308,191) | (802,556) | (6,105,971) | (1,804,382) |
Other Income (Expense) | ||||
Interest expense | (180,015) | (18,100) | (205,110) | (249,000) |
Gain (loss) on settlement of debt | 8,997 | 18,803 | ||
Rental income (note 19) | 96,218 | 96,218 | ||
Interest income | 19,669 | 24,935 | ||
Total other income (expense) | (64,128) | (9,103) | (83,957) | (230,796) |
Net Loss | $ (3,372,319) | $ (811,659) | $ (6,189,928) | $ (2,035,178) |
Loss per Share (basic and diluted) | $ (0.20) | $ (0.08) | $ (0.36) | $ (0.27) |
Weighted Average Number of Shares (basic and diluted) | 17,022,587 | 9,827,576 | 17,005,405 | 7,505,625 |
Consolidated Statements of Shar
Consolidated Statements of Shareholders' Deficit (Unaudited) - USD ($) | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Share Subscriptions Receivable [Member] | Share Subscription Payable [Member] | Retained Earnings [Member] | Cumulative Translation Adjustment [Member] | Total |
Beginning balance, value at Dec. 31, 2020 | $ 1 | $ 382 | $ 12,665,854 | $ (1,577) | $ 379,428 | $ (12,866,033) | $ (8,580) | $ 169,475 |
Beginning balance, shares at Dec. 31, 2020 | 1,000 | 3,820,618 | ||||||
Conversion of preferred stock to common stock | $ (1) | $ 172 | (171) | |||||
Conversion of preferred stock to common stock, shares | (900) | 1,717,535 | ||||||
Consulting Service for share subscriptions | 337,145 | 337,145 | ||||||
Issuance for services and subscriptions payable | $ 42 | 1,155,238 | (241,559) | 913,721 | ||||
Issuance for services and subscriptions payable, shares | 413,158 | |||||||
Share issuance cost | (123,984) | (123,984) | ||||||
Issuance of shares from private placement | $ 204 | 4,081,776 | 4,081,980 | |||||
Issuance of shares from private placement, shares | 2,040,990 | |||||||
Warrant exercise (note 17) | $ 131 | 5,245,460 | 390,915 | 5,636,506 | ||||
Warrant exercise, shares | 1,311,394 | |||||||
Net loss | (2,035,178) | (2,035,178) | ||||||
Issuance of shares from Reg-A | $ 150 | 3,003,171 | (32,700) | 2,970,621 | ||||
Issuance of shares from Reg-A, shares | 1,502,409 | |||||||
Warrants issuance for services | 37,000 | 37,000 | ||||||
Conversion of convertible promissory note to shares (note 6) | $ 20 | 368,298 | 368,318 | |||||
Conversion of convertible promissory note to shares, shares | 204,622 | |||||||
Cashless warrant exercise (note 17) | $ 4 | (4) | ||||||
Cashless warrant exercise, shares | 39,512 | |||||||
Loan repayment (note 14) | $ 10 | 176,492 | 176,502 | |||||
Loan repayment, shares | 98,054 | |||||||
Ending balance, value at Jun. 30, 2021 | $ 1,116 | 26,609,129 | (1,577) | 833,229 | (14,901,211) | (8,580) | 12,532,106 | |
Ending balance, shares at Jun. 30, 2021 | 100 | 11,148,293 | ||||||
Beginning balance, value at Mar. 31, 2021 | $ 1 | $ 814 | 22,554,768 | (1,577) | 372,131 | (14,089,552) | (8,580) | 8,828,005 |
Beginning balance, shares at Mar. 31, 2021 | 1,000 | 8,138,199 | ||||||
Conversion of preferred stock to common stock | $ (1) | $ 172 | (171) | |||||
Conversion of preferred stock to common stock, shares | (900) | 1,717,535 | ||||||
Consulting Service for share subscriptions | 225,923 | 225,923 | ||||||
Issuance for services and subscriptions payable | $ 9 | 585,363 | 585,372 | |||||
Issuance for services and subscriptions payable, shares | 97,100 | |||||||
Share issuance cost | (64,824) | (64,824) | ||||||
Issuance of shares from private placement | $ 52 | 1,031,948 | (32,000) | 1,000,000 | ||||
Issuance of shares from private placement, shares | 516,000 | |||||||
Warrant exercise (note 17) | $ 58 | 2,325,556 | 378,785 | 2,704,399 | ||||
Warrant exercise, shares | 581,404 | |||||||
Loan repayment (note 14) | $ 10 | 176,490 | (111,610) | 64,890 | ||||
Loan repayment, shares | 98,054 | |||||||
Net loss | (811,659) | (811,659) | ||||||
Ending balance, value at Jun. 30, 2021 | $ 1,116 | 26,609,129 | (1,577) | 833,229 | (14,901,211) | (8,580) | 12,532,106 | |
Ending balance, shares at Jun. 30, 2021 | 100 | 11,148,293 | ||||||
Beginning balance, value at Dec. 31, 2021 | $ 1,696 | 54,608,472 | (1,577) | 430,116 | (20,849,805) | (8,580) | 34,180,322 | |
Beginning balance, shares at Dec. 31, 2021 | 100 | 16,951,034 | ||||||
Issuance for services and subscriptions payable | $ 9 | 1,347,926 | 69,426 | 1,417,361 | ||||
Issuance for services and subscriptions payable, shares | 90,000 | |||||||
Warrant exercise (note 17) | ||||||||
Warrant exercise, shares | 21 | |||||||
Net loss | (6,189,928) | (6,189,928) | ||||||
Ending balance, value at Jun. 30, 2022 | $ 1,705 | 55,956,398 | (1,577) | 499,542 | (27,039,733) | (8,580) | 29,407,755 | |
Ending balance, shares at Jun. 30, 2022 | 100 | 17,041,055 | ||||||
Beginning balance, value at Mar. 31, 2022 | $ 1,701 | 55,212,869 | (1,577) | 365,269 | (23,667,414) | (8,580) | 31,902,268 | |
Beginning balance, shares at Mar. 31, 2022 | 100 | 17,001,034 | ||||||
Issuance for services and subscriptions payable | $ 4 | 743,529 | 134,273 | 877,806 | ||||
Issuance for services and subscriptions payable, shares | 40,000 | |||||||
Warrant exercise (note 17) | ||||||||
Warrant exercise, shares | 21 | |||||||
Net loss | (3,372,319) | (3,372,319) | ||||||
Ending balance, value at Jun. 30, 2022 | $ 1,705 | $ 55,956,398 | $ (1,577) | $ 499,542 | $ (27,039,733) | $ (8,580) | $ 29,407,755 | |
Ending balance, shares at Jun. 30, 2022 | 100 | 17,041,055 |
Condensed Consolidated Stateme
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Operating Activities | |||
Net Loss | $ (6,189,928) | $ (2,035,178) | |
Adjustments to reconcile net loss to net cash from operating activities: | |||
Shares, options and warrants issued for services (note 20) | 2,771,869 | 1,106,025 | |
Depreciation and amortization | 152,237 | 2,383 | |
Amortization of right-of-use asset | 133,937 | 35,631 | |
Interest on lease liability | 54,697 | 6,704 | |
Repayment of lease liability | (153,597) | (35,063) | |
Accrued interest | 15,711 | 24,691 | |
Amortization on OID interest | 211,340 | ||
Gain/(loss) on settlement of debt | (18,803) | ||
Adjustments to reconcile net income loss to cash provided by (used in) operating activities | (3,215,074) | (701,670) | |
Changes in operating assets and liabilities (note 9) | (1,827,808) | (329,319) | |
Net cash used in operating activities | (5,042,882) | (1,030,989) | |
Cash Flows from Investing Activities | |||
Loan receivable | (5,507) | ||
Purchase of intangible assets | (23,700) | ||
Purchase of property and equipment | (9,051,810) | (257,305) | |
Net cash used in investing activities | (9,051,810) | (286,512) | |
Financing Activities | |||
Proceeds from issuance of common shares, net of issuance cost | 6,928,617 | ||
Proceeds from warrant exercise | 5,636,505 | ||
Shareholder Assumption of Debt | 14,099 | (25,931) | |
Loan payable | 5,300,000 | ||
Repayments on loan payable | (28,387) | (62,905) | |
Net cash provided by financing activities | 5,285,712 | 12,476,286 | |
Change in cash | (8,808,980) | 11,158,785 | |
Cash and cash equivalents - beginning of year | 28,567,333 | 1,107,812 | $ 1,107,812 |
Cash, cash equivalents and restricted cash end of year | 19,758,353 | 12,266,597 | $ 28,567,333 |
Supplemental Disclosure of non-cash investing and financing Activities | |||
Shares issued for purchase of software | 285,137 | 212,671 | |
Right-of-use asset | 1,042,718 | 622,173 | |
Lease liability | (1,042,718) | (622,173) | |
Shares issued to service providers | 549,470 | ||
Cashless warrant exercise | 51,901 | ||
Shares issued for share subscriptions payable | 430,000 | ||
Conversion of convertible promissory note to common stock | 368,320 | ||
Conversion of preferred stock to common stock | 171 | ||
Reverse stock split | $ 21,182 |
Basis of Presentation and Busin
Basis of Presentation and Business Condition | 6 Months Ended |
Jun. 30, 2022 | |
Accounting Policies [Abstract] | |
Basis of Presentation and Business Condition | 1. Basis of Presentation and Business Condition a) Interim Financial Information The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) for interim financial information pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (SEC). Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. In the opinion of management, all adjustments and reclassifications considered necessary in order to make the financial statements not misleading and for a fair and comparable presentation have been included and are of a normal recurring nature. Operating results for the six month period ended June 30, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 filed with the SEC on March 31, 2022. On May 21, 2021, the Board of Directors authorized the submission of a Certificate of Change/Amendment to the Nevada Secretary of State in which the Company sought to affect a reverse split of its common stock at the rate of 1 for 20 for the purpose of increasing the per share price for the Company’s stock in an effort to meet the minimum listing requirements of the NADAQ. The Certificate of Change was submitted to the Nevada Secretary of State on May 21, 2021 and the FINRA corporate action was announced on August 3, 2021. FINRA declared the 1 for 20 reverse stock split effective on August 4, 2021. Terravis Energy Inc. was incorporated in the State of Colorado on May 5, 2021. On August 20, 2021, the Company was issued 100 0.0001 9,990,900 common shares of Terravis Energy Inc. at par value of $0.0001 per share. During the same period, Terravis Energy Inc. issued 1,000 at $ 0.0001 During the six months ended June 30, 2022, Worksport New York Operations Corporation and Worksport USA Operations Corporation were incorporated in the state of New York and Colorado, respectively. During the period, the Company was issued 1,000 0.0001 the Company was issued 10,000 b) Functional and Reporting Currency These condensed consolidated financial statements are presented in United States dollars (USD or US$). The functional currency of the Company and its subsidiaries are United States dollar. For purposes of preparing these consolidated financial statements, transactions denominated in Canadian dollars (CAD or C$) were converted to United States dollars at the spot rate. Transaction gains and losses resulting from fluctuations in currency exchange rates on transactions denominated in currencies other than the functional currency are recognized as incurred in the accompanying consolidated statement of operations and comprehensive loss. c) Use of Estimates The preparation of condensed unaudited financial statements in conformity with accounting principles generally accepted in the United States 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 condensed interim financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Worksport Ltd. Notes to the Condensed Consolidated Financial Statements (Unaudited) 1. Basis of Presentation and Business Condition d) Business condition The Company has evaluated whether there are conditions and events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date the financial statements are issued. As of June 30, 2022, the Company had working capital of $ 23,227,887 and an accumulated deficit of $ 27,039,733 . As of June 30, 2022, the Company had cash, restricted cash and cash equivalents of $ 19,758,353 . Based on its current operating plans, the Company believes it has sufficient level of funding for anticipated operations, capital expenditures and debt repayments for a period of at least 12 months from the issuance date of this Quarterly Report. Based on the Company’s future operating plans, existing cash of $ 19,758,353 32,780,000 |
Significant Accounting Policies
Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2022 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies | 2. Significant Accounting Policies The accounting polices used in the preparation of these condensed consolidated interim financial statements are consistent with those of the Company’s audited financial statements for the year ended December 31, 2021. |
Inventory
Inventory | 6 Months Ended |
Jun. 30, 2022 | |
Inventory Disclosure [Abstract] | |
Inventory | 3. Inventory Inventory consists of the following at June 30, 2022 and December 31, 2021: Schedule of Inventory June 30, 2022 December 31, 2021 Finished goods $ 963,404 $ 427,794 Promotional items 852 728 Raw materials 138,456 73,250 Inventory $ 1,102,712 $ 501,772 |
Prepaid expenses and deposits
Prepaid expenses and deposits | 6 Months Ended |
Jun. 30, 2022 | |
Prepaid Expenses And Deposits | |
Prepaid expenses and deposits | 4. Prepaid expenses and deposits As of June 30, 2022 and December 31, 2021 prepaid expenses and deposits consists of the following: Schedule of Prepaid Expenses and Deposits June 30, 2022 December 31, 2021 Consulting, services and advertising $ 2,676,244 $ 4,328,389 Insurance 42,126 3,041 Deposit 1,807,490 384,065 Prepaid expenses and deposits, net $ 4,525,860 $ 4,715,495 As of June 30, 2022 prepaid expense and deposit consists of $ 2,676,244 4,328,389 |
Promissory Notes
Promissory Notes | 6 Months Ended |
Jun. 30, 2022 | |
Debt Disclosure [Abstract] | |
Promissory Notes | 5. Promissory Notes The following tables shows the balance of the notes payable as of June 30, 2022 and December 31, 2021: Schedule of Notes Payable Balance as of December 31, 2020 $ 367,058 Repayment (103,847 ) Balance as of June 30, 2022 and December 31, 2021 $ 263,211 Worksport Ltd. Notes to the Condensed Consolidated Financial Statements (Unaudited) 5. Promissory Notes During the year ended December 31, 2016, the Company issued a secured promissory note in the principal amount of $ 73,452 123,231 22,639 30,884 18 96,091 123,231 96,091 123,231 75,048 97,283 57,582 75,102 During the year ended December 31, 2016, the Company issued secured promissory notes in the aggregate principal amount of $ 79,000 18 79,000 79,000 52,223 38,032 During the years ended December 31, 2017, the Company issued secured promissory notes in the aggregate principal amount of $ 53,848 67,700 The secured promissory notes were due in October and November 2018 62,905 80,108 53,848 14,740 5,682 During the years ended December 31, 2017, the Company issued secured promissory notes in the aggregate principal amount of $ 60,000 The secured promissory notes were due in August and November 2018 12 November 3, 2020 10,000 36,048 0.09 73,886 8,997 The amounts repayable under promissory notes and secured promissory notes at June 30, 2022 and December 31, 2021 are as follows: Schedule of Secured Notes Payable June 30, 2022 December 31, 2021 June 30, 2022 December 31, 2021 Balance owing $ 263,211 $ 263,211 Less amounts due within one year (263,311 ) (263,211 ) Long-term portion $ - $ - Worksport Ltd. Notes to the Condensed Consolidated Financial Statements (Unaudited) |
Convertible Promissory Notes
Convertible Promissory Notes | 6 Months Ended |
Jun. 30, 2022 | |
Debt Disclosure [Abstract] | |
Convertible Promissory Notes | 6. Convertible Promissory Notes On February 25, 2020, the Company entered into an agreement with Leonite Capital LLC, a Delaware limited liability company (“Leonite”), pursuant to which the Company issued to Leonite a secured convertible promissory note in the aggregate principal amount of $ 544,425 22,500 five 45,000 2.00 The note carries an original issue discount of $ 44,425 500,000 198,715 182,500 16,215 310,322 285,000 25,322 509,037 467,500 41,537 22,500 123,390 344,110 226,839 126,022 1.80 182,565 44,274 204,622 1.80 368,319 325,667 42,651 148,027 |
Shareholders_ Equity (Deficit)
Shareholders’ Equity (Deficit) | 6 Months Ended |
Jun. 30, 2022 | |
Equity [Abstract] | |
Shareholders’ Equity (Deficit) | 7. Shareholders’ Equity (Deficit) During six months ended June 30, 2022, the following transactions occurred: During the six months ended June 30, 2022, the Company issued 10,000 86,000 66,329 80,000 240,000 During the six months ended June 30, 2022, the Company recognized share subscriptions payable and consulting expense of $ 134,273 During the six months ended June 30, 2022, the Company recognized consulting expense of $ 1,482 no Refer to note 17 and 18 for additional shareholders’ equity (deficit). During six months ended June 30, 2021, the following transactions occurred: During the six months ended June 30, 2021, the Company issued a total of 1,502,409 30,048,199 15,500 312,000 31,200 750 15,000 1,500 123,984 During the same period, 1,409,122 28,182,451 1,409,122 28,182,451 1,311,394 26,227,876 5,245,592 97,729 1,954,575 390,915 Worksport Ltd. Notes to the Condensed Consolidated Financial Statements (Unaudited) 7. Shareholders’ Equity (Deficit) During the six months ended June 30, 2021, the Company raised $ 4,081,980 2,040,990 40,819,800 During the six months ended June 30, 2021, the Company entered into consulting agreements with third party consultants for 370,000 7,400,000 1,588,000 337,145 During the six months ended June 30, 2021, the Company issued 259,808 5,196,154 741,159 241,559 150,000 3,000,000 390,000 3,350 67,000 24,121 During the six months ended June 30, 2021, the Company entered into a loan settlement agreement with a noteholder to issue 62,006 1,240,111 1.80 0.09 111,611 157,787 46,176 62,006 1,240,111 During the six months ended June 30, 2021, the Company entered into a promissory notes payable settlement agreement with a note holder to issue 36,048 720,996 1.80 0.09 64,891 73,886 8,997 36,048 720,966 During the six months ended June 30, 2021, the Company entered into a settlement agreement with the convertible promissory note holder to settle all outstanding principal and accrued interest. The Company issued 204,622 4,092,431 1.80 0.09 368,318 325,667 42,651 39,512 790,243 39,512 790,243 During the six months ended June 30, 2021, the Company issued 1,717,535 34,350,697 900 Refer to note 17 for additional shareholders’ equity (deficit) for consulting expense of $ 37,000 During the year ended December 31, 2021, the Company completed a share consolidation of the Company’s issued and outstanding common shares based on twenty (20) pre-consolidation shares to one (1) post-consolidation share. As a result of the share consolidation, an anti-dilution clause was triggered resulting in the Company issuing 237,500 86,688 As of June 30, 2022, the Company was authorized to issue 299,000,000 0.0001 100 100,000 0.0001 Series A Preferred Stock do not have any voting rights. Each share of Series B Preferred Stock has voting rights equal to 10,000 shares of common stock Worksport Ltd. Notes to the Condensed Consolidated Financial Statements (Unaudited) |
Related Party Transactions
Related Party Transactions | 6 Months Ended |
Jun. 30, 2022 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | 8. Related Party Transactions During the six months ended June 30, 2022, the Company recorded salaries expense of $ 150,068 77,026 49,646 35,547 125,056 During the six months ended June 30, 2021, the Company paid a director of the Company $ 50,000 During the six months ended June 30, 2021, the Company paid $ 59,203 Refer to note 18 for additional related party transactions. |
Changes in Cash Flows from Oper
Changes in Cash Flows from Operating Assets and Liabilities | 6 Months Ended |
Jun. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Changes in Cash Flows from Operating Assets and Liabilities | 9. Changes in Cash Flows from Operating Assets and Liabilities The changes to the Company’s operating assets and liabilities for the six months ended June 30, 2022 and 2021 are as follows: Schedule of Changes in Operating Assets and Liabilities 2022 2021 Decrease (increase) in accounts receivable $ (3,850 ) $ 16,504 Decrease (increase) in other receivable (15,195 ) 116,997 Decrease (increase) in inventory (600,940 ) (212,344 ) Decrease (increase) in prepaid expenses and deposits (1,658,508 ) (220,841 ) Increase (decrease) in lease liability (22,939 ) 1,823 Increase (decrease) in taxes payable (112,189 ) 2,970 Increase (decrease) in accounts payable and accrued liabilities 585,813 (34,428 ) Changes in operating assets and liabilities $ (1,827,808 ) $ (329,319 ) |
Commitments and contingencies
Commitments and contingencies | 6 Months Ended |
Jun. 30, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and contingencies | 10. Commitments and contingencies During the year ended December 31, 2021, the Company entered into an agreement with a third-party advisor to reserve for sale and issuance 15,000 0.001 |
Reverse Stock Split
Reverse Stock Split | 6 Months Ended |
Jun. 30, 2022 | |
Reverse Stock Split | |
Reverse Stock Split | 11. Reverse Stock Split On May 21, 2021, the Board of Directors authorized the submission of a Certificate of Change/Amendment to the Nevada Secretary of State to effect a reverse split of its common stock at the rate of 1-for-20 for the purpose of increasing the per share price for the Company’s stock in an effort to meet the minimum listing requirements of the Nasdaq Stock Market, LLC. The Certificate of Change was submitted to the Nevada Secretary of State on May 21, 2021, and FINRA announced the reverse stock split on August 3, 2021. The reverse stock split took effect in the marketplace on August 4, 2021. |
Investment
Investment | 6 Months Ended |
Jun. 30, 2022 | |
Investments, All Other Investments [Abstract] | |
Investment | 12. Investment During the year ended December 31, 2019, the Company entered into an agreement to purchase 10,000,000 50,000 10 24,423 Worksport Ltd. Notes to the Condensed Consolidated Financial Statements (Unaudited) |
Lease Liabilities
Lease Liabilities | 6 Months Ended |
Jun. 30, 2022 | |
Lease Liabilities | |
Lease Liabilities | 13. Lease Liabilities During the six months ended June 30, 2022, the Company entered into a lease agreement for warehouse space to commence on June 1, 2022 and ending on May 31, 2027 20,808 1,042,718 During the year ended December 31, 2021, the Company entered into a lease agreement for warehouse space to commence on June 1, 2021 and end on May 31, 2024 19,910 July 31, 2022 2,221 The Company has accounted for its leases upon adoption of ASC 842 whereby it recognizes a lease liability and a right-of-use asset at the date of initial application, beginning January 1, 2019. The lease liability is measured at the present value of the remaining lease payments, discounted using the Company’s incremental borrowing rate of 10 The Company’s right-of-use asset for the six months ended June 30, 2022 and the year ended December 31, 2021 as follows: Schedule Right-of-use Asset June 30, 2022 December 31, 2021 Right-of-use asset $ 1,424,599 $ 515,819 Current lease liability $ 366,579 $ 212,929 Long-term lease liability $ 1,084,216 $ 316,988 The components of lease expense are as follows: Schedule of Components of Lease Expense June 30, 2022 June 30, 2021 Amortization of right-of-use $ 133,937 $ 28,927 Interest on lease liability $ 54,697 $ 6,704 Total lease cost $ 188,634 $ 35,631 Maturities of lease liability are as follows: Future minimum lease payments as of June 30, 2022, Schedule of Future Minimum Lease Payments 2022 246,535 2023 493,026 2024 361,298 2025 and after 664,570 Total future minimum lease payments 1,765,429 Less: amount representing interest (314,634 ) Present value of future payments 1,450,795 Current portion 366,579 Long term portion $ 1,084,216 Worksport Ltd. Notes to the Condensed Consolidated Financial Statements (Unaudited) |
Loan payable
Loan payable | 6 Months Ended |
Jun. 30, 2022 | |
Loan Payable | |
Loan payable | 14. Loan payable a) During the year ended December 31, 2020, the Company received loans of $ 32,439 10,000 108,000 10 maturity date of December 31, July 22 and August 31, 2021, respectively. 1,240,111 0.09 1,319 150,439 7,336 46,176 b) During the year ended December 31, 2020, the Company received $ 28,387 40,000 25 28,387 40,000 c) During the six months ended June 30, 2022, the Company entered into a loan agreement with a third party for the purchase of property located in West Seneca, New York. The Company received $ 5,300,000 2.25 May 10, 2024 115,255 |
Government Assistance
Government Assistance | 6 Months Ended |
Jun. 30, 2022 | |
Government Assistance [Abstract] | |
Government Assistance | 15. Government Assistance The Government of Canada is currently providing funding through the Canada Emergency Wage Subsidy (“CEWS”) and Canada Emergency Rent Subsidy (“CERS”) programs in order to provide financial relief to Canadian businesses affected by COVID-19. The CEWS program provides a reimbursement of salaries for eligible employers based on a decrease in revenues. The CERS program provides a reimbursement of rent expenses paid by eligible parties based on a decrease in revenues. During the six months ended June 30, 2022, the Company recognized CEWS of $ 0 51,606 63,905 0 4,971 6,000 |
Loss per Share
Loss per Share | 6 Months Ended |
Jun. 30, 2022 | |
Earnings Per Share [Abstract] | |
Loss per Share | 16. Loss per Share For the three and six months ended June 30, 2022, loss per share is $( 0.20 0.36 0.08 0.27 17,022,587 17,005,405 9,827,576 7,505,625 There are 299,000,000 17,041,055 11,148,292 211,667 5,586,502 6,577,513 1,070,000 2,122,500 2,122,500 700,000 700,000 10,470,013 2,961,580 5,002,570 5,002,570 Worksport Ltd. Notes to the Condensed Consolidated Financial Statements (Unaudited) |
Warrants
Warrants | 6 Months Ended |
Jun. 30, 2022 | |
Warrants | |
Warrants | 17. Warrants During the six months ended June 30, 2022, an aggregate of 21 127 202,701 1,448,635 1,448,635 1,409,122 4.00 39,512 1,350,906 97,729 During the year ended December 31, 2021, the Company issued 1,502,409 2,040,990 4.00 3,763,636 6.05 3,272,727 490,909 During the year ended December 31, 2021, the Company and warrant holder reached an agreement to amend a previous warrant agreement. The Company will issue an additional 150,000 250,000 37,000 2.00 During the year ended December 31, 2021, the Company issued 130,909 130,909 6.05 273,993 During the year ended December 31, 2021, an aggregate of 26,815 As of June 30, 2022, the Company has the following warrants outstanding: Schedule of Warrants Exercise Price Exercise price Number outstanding Remaining Contractual Life (Years) Expiry date $ 4.00 1,690,969 0.25 October 1, 2022 $ 6.05 3,577,545 2.10 August 6, 2024 $ 2.00 5,488 2.66 February 25, 2025 $ 2.40 62,500 2.72 March 20, 2025 $ 2.00 250,000 3.55 January 14, 2026 5,586,502 2.21 Schedule of Warrants Activity June 30, 2022 December 31, 2021 Number of warrants Weighted average price Number of warrants Weighted average price Balance, beginning of year 5,658,315 $ 4.30 716,815 $ 4.00 Issuance 130,909 $ 6.05 7,457,036 $ 4.30 Expired (202,701 ) $ (4.00 ) (26,815 ) $ (4.00 ) Exercise (21 ) $ (4.00 ) (2,488,721 ) $ (4.00 ) Balance, end of period 5,586,502 $ 4.35 5,658,315 $ 4.30 Worksport Ltd. Notes to the Condensed Consolidated Financial Statements (Unaudited) |
Stock Options
Stock Options | 6 Months Ended |
Jun. 30, 2022 | |
Share-Based Payment Arrangement [Abstract] | |
Stock Options | 18. Stock Options Under the Company’s 2015 Equity Incentive Plan, the number of common shares reserved for issuance under the option plan shall not exceed 10% of the issued and outstanding common shares of the Company, have a maximum term of 10 All equity-settled share-based payments are ultimately recognized as an expense in the statement of operations and comprehensive loss with a corresponding credit to “Additional Paid in Capital.” If vesting periods or other non-market vesting conditions apply, the expense is allocated over the vesting period, based on the best available estimate of the number of share options expected to vest. Estimates are subsequently revised if there is any indication that the number of share options expected to vest differs from previous estimates. Any cumulative adjustment prior to vesting is recognized in the current period. No adjustment is made to any expense recognized in prior periods if share options ultimately exercised are different to that estimated on vesting. On December 29, 2021, the Company granted 400,000 300,000 The PSU will vest in 5% increments according to a schedule that correlates with the Company’s stock price. The first 5% of the PSUs vest upon the Company’s stock price closing at $3.00. 50% will have vested at a closing price of $16.50 and 100% will have vested at a closing price of $31.50. 2,308,012 134,457 0 On August 6, 2021, the Company granted 140,000 5.50 August 6, 2026 The stock options vested on January 1, 2022. The fair value of the options on grant date was estimated to be $ 754,189 5,096 0 On July 23, 2021, the Company granted 15,000 5.50 July 23, 2026 The stock options vested on January 1, 2022. The fair value of the options on the grant date was estimated to be $ 129,480 799 0 On September 1, 2021, the Company granted 400,000 5.32 September 1, 2026 The options have a vesting period of 6 months from the initial grant date; 100,000 100,000 100,000 100,000 2,112,000 528,064 0 On October 7 and November 2, 2021, the Company granted 5,000 62,500 5.50 5.24 October 7, 2026 November 2, 2026 353,230 32,856 0 On December 29, 2021, the Company granted an aggregate of 90,000 2.51 December 29, 2026 The options have a vesting period of 1 year from the initial grant date; 10,000 10,000 10,000 224,280 37,482 0 Worksport Ltd. Notes to the Condensed Consolidated Financial Statements (Unaudited) 18. Stock Options During the six months ended June 30, 2022, the Company granted 10,000 50,000 2.19 2.37 February 7, 2027 May 5, 2032 21,780 261,400 283,180 During the six months ended June 30, 2022, Terravis Energy Inc., a subsidiary of the Company, granted an aggregate of 1,350,000 to its officers and directors. The stock options have an exercise price of $ 0.01 and will expire on April 12, 2032 . The options vested immediately upon issuance. The fair value of the options on grant date was estimated to be immaterial. As of June 30, 2022, the Company has the following options outstanding: Schedule of Stock Options Activity June 30, 2022 December 31, 2021 Number of stock options Weighted average price Number of stock options Weighted average price Balance, beginning of year 712,500 $ 5.00 - $ - Granted 60,000 $ 2.34 712,500 $ 5.00 Balance, end of period 772,500 $ 4.79 712,500 $ 5.00 Schedule of Share-based Payment Arrangement, Option, Exercise Price Range Range of Exercise prices Outstanding Weighted average life (years) Weighted average exercise price Exercisable on June 30, 2022 Stock options $ 2.19 5.50 772,500 4.59 $ 4.79 382,500 As of June 30, 2022, Terravis Energy Inc. has the following options outstanding: Schedule of Stock Options Activity June 30, 2022 Number of stock options Weighted average price Balance, beginning of year - $ - Granted 1,350,000 $ 0.01 Balance, end of period 1,350,000 $ 0.01 Schedule of Share-based Payment Arrangement, Option, Exercise Price Range Range of Exercise prices Outstanding Weighted average life (years) Weighted average exercise price Exercisable on June 30, 2022 Stock options $ 0.01 1,350,000 9.78 $ 0.01 1,350,000 |
Rental Income
Rental Income | 6 Months Ended |
Jun. 30, 2022 | |
Rental Income | |
Rental Income | 19. Rental Income During the six months ended June 30, 2022, the Company entered into a sublease agreement for its warehouse in Mississauga, Ontario, Canada. The sublease commenced on June 15, 2022 and end on May 31, 2024 15,515 19,992 During the six months ended June 30, 2022 the Company entered into a lease agreement in relation to its West Seneca property. The Company entered into a lease agreement with a third-party from June 1 to December 31, 2022 33,750 During the six months ended June 30, 2022 the Company recognized rental income of $ 96,218 Worksport Ltd. Notes to the Condensed Consolidated Financial Statements (Unaudited) |
Share Base Compensation
Share Base Compensation | 6 Months Ended |
Jun. 30, 2022 | |
Equity [Abstract] | |
Share Base Compensation | 20. Share Base Compensation During the six months ended June 30, 2022 and 2021 the Company recognized the following share base compensation expenses in exchange for professional services received. Schedule of Share Based Compensation June 30, 2022 June 30, 2021 Restricted stock units $ 39,910 $ - Share issuance 240,000 512,470 Performance stock units 134,457 - Warrants - 37,000 Stock options 983,325 - Share base compensation service provider $ 1,397,692 $ 549,470 Share base compensation expensed from prepaid 1,374,177 556,555 Share base compensation $ 2,771,869 $ 1,106,025 |
COVID-19
COVID-19 | 6 Months Ended |
Jun. 30, 2022 | |
Covid-19 | |
COVID-19 | 21. COVID-19 The outbreak of the coronavirus, specifically identified as “COVID-19,” has resulted in governments worldwide enacting emergency measures to combat the spread of the virus. These measures, which include the implementation of travel bans, self-imposed quarantine periods and social distancing, have caused material disruption to businesses globally resulting in an economic slowdown. Global equity markets have experienced significant volatility and weakness. Governments and central banks have reacted with significant monetary and fiscal interventions designed to stabilize economic conditions. The duration and impact of the COVID-19 outbreak are unknown at this time, as is the efficacy of the government and central bank interventions. Additionally, while the potential economic impact and duration of such impact brought by the COVID-19 pandemic are difficult to assess or predict, the impact of the COVID-19 pandemic on the global financial markets may reduce our ability to access capital, which could negatively impact our short-term and long-term liquidity. The ultimate impact of the COVID-19 pandemic is highly uncertain and subject to change. The Company does not yet know the full extent of potential delays or impacts on its business, financing or the global economy as a whole. However, these effects could have a material impact on the Company’s liquidity, capital resources, operations and business and those of the third parties on which the Company relies. The management and board of the Company are constantly monitoring this situation to minimize potential losses. |
Subsequent Events
Subsequent Events | 6 Months Ended |
Jun. 30, 2022 | |
Subsequent Events [Abstract] | |
Subsequent Events | 22. Subsequent Events None. |
Inventory (Tables)
Inventory (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Inventory Disclosure [Abstract] | |
Schedule of Inventory | Inventory consists of the following at June 30, 2022 and December 31, 2021: Schedule of Inventory June 30, 2022 December 31, 2021 Finished goods $ 963,404 $ 427,794 Promotional items 852 728 Raw materials 138,456 73,250 Inventory $ 1,102,712 $ 501,772 |
Prepaid expenses and deposits (
Prepaid expenses and deposits (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Prepaid Expenses And Deposits | |
Schedule of Prepaid Expenses and Deposits | As of June 30, 2022 and December 31, 2021 prepaid expenses and deposits consists of the following: Schedule of Prepaid Expenses and Deposits June 30, 2022 December 31, 2021 Consulting, services and advertising $ 2,676,244 $ 4,328,389 Insurance 42,126 3,041 Deposit 1,807,490 384,065 Prepaid expenses and deposits, net $ 4,525,860 $ 4,715,495 |
Promissory Notes (Tables)
Promissory Notes (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Debt Disclosure [Abstract] | |
Schedule of Notes Payable | The following tables shows the balance of the notes payable as of June 30, 2022 and December 31, 2021: Schedule of Notes Payable Balance as of December 31, 2020 $ 367,058 Repayment (103,847 ) Balance as of June 30, 2022 and December 31, 2021 $ 263,211 |
Schedule of Secured Notes Payable | The amounts repayable under promissory notes and secured promissory notes at June 30, 2022 and December 31, 2021 are as follows: Schedule of Secured Notes Payable June 30, 2022 December 31, 2021 June 30, 2022 December 31, 2021 Balance owing $ 263,211 $ 263,211 Less amounts due within one year (263,311 ) (263,211 ) Long-term portion $ - $ - |
Changes in Cash Flows from Op_2
Changes in Cash Flows from Operating Assets and Liabilities (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Schedule of Changes in Operating Assets and Liabilities | The changes to the Company’s operating assets and liabilities for the six months ended June 30, 2022 and 2021 are as follows: Schedule of Changes in Operating Assets and Liabilities 2022 2021 Decrease (increase) in accounts receivable $ (3,850 ) $ 16,504 Decrease (increase) in other receivable (15,195 ) 116,997 Decrease (increase) in inventory (600,940 ) (212,344 ) Decrease (increase) in prepaid expenses and deposits (1,658,508 ) (220,841 ) Increase (decrease) in lease liability (22,939 ) 1,823 Increase (decrease) in taxes payable (112,189 ) 2,970 Increase (decrease) in accounts payable and accrued liabilities 585,813 (34,428 ) Changes in operating assets and liabilities $ (1,827,808 ) $ (329,319 ) |
Lease Liabilities (Tables)
Lease Liabilities (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Lease Liabilities | |
Schedule Right-of-use Asset | The Company’s right-of-use asset for the six months ended June 30, 2022 and the year ended December 31, 2021 as follows: Schedule Right-of-use Asset June 30, 2022 December 31, 2021 Right-of-use asset $ 1,424,599 $ 515,819 Current lease liability $ 366,579 $ 212,929 Long-term lease liability $ 1,084,216 $ 316,988 |
Schedule of Components of Lease Expense | The components of lease expense are as follows: Schedule of Components of Lease Expense June 30, 2022 June 30, 2021 Amortization of right-of-use $ 133,937 $ 28,927 Interest on lease liability $ 54,697 $ 6,704 Total lease cost $ 188,634 $ 35,631 |
Schedule of Future Minimum Lease Payments | Future minimum lease payments as of June 30, 2022, Schedule of Future Minimum Lease Payments 2022 246,535 2023 493,026 2024 361,298 2025 and after 664,570 Total future minimum lease payments 1,765,429 Less: amount representing interest (314,634 ) Present value of future payments 1,450,795 Current portion 366,579 Long term portion $ 1,084,216 |
Warrants (Tables)
Warrants (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Warrants | |
Schedule of Warrants Exercise Price | As of June 30, 2022, the Company has the following warrants outstanding: Schedule of Warrants Exercise Price Exercise price Number outstanding Remaining Contractual Life (Years) Expiry date $ 4.00 1,690,969 0.25 October 1, 2022 $ 6.05 3,577,545 2.10 August 6, 2024 $ 2.00 5,488 2.66 February 25, 2025 $ 2.40 62,500 2.72 March 20, 2025 $ 2.00 250,000 3.55 January 14, 2026 5,586,502 2.21 |
Schedule of Warrants Activity | Schedule of Warrants Activity June 30, 2022 December 31, 2021 Number of warrants Weighted average price Number of warrants Weighted average price Balance, beginning of year 5,658,315 $ 4.30 716,815 $ 4.00 Issuance 130,909 $ 6.05 7,457,036 $ 4.30 Expired (202,701 ) $ (4.00 ) (26,815 ) $ (4.00 ) Exercise (21 ) $ (4.00 ) (2,488,721 ) $ (4.00 ) Balance, end of period 5,586,502 $ 4.35 5,658,315 $ 4.30 |
Stock Options (Tables)
Stock Options (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Schedule of Stock Options Activity | Schedule of Stock Options Activity June 30, 2022 December 31, 2021 Number of stock options Weighted average price Number of stock options Weighted average price Balance, beginning of year 712,500 $ 5.00 - $ - Granted 60,000 $ 2.34 712,500 $ 5.00 Balance, end of period 772,500 $ 4.79 712,500 $ 5.00 |
Schedule of Share-based Payment Arrangement, Option, Exercise Price Range | Schedule of Share-based Payment Arrangement, Option, Exercise Price Range Range of Exercise prices Outstanding Weighted average life (years) Weighted average exercise price Exercisable on June 30, 2022 Stock options $ 2.19 5.50 772,500 4.59 $ 4.79 382,500 |
Terravis Energy Inc [Member] | |
Schedule of Stock Options Activity | As of June 30, 2022, Terravis Energy Inc. has the following options outstanding: Schedule of Stock Options Activity June 30, 2022 Number of stock options Weighted average price Balance, beginning of year - $ - Granted 1,350,000 $ 0.01 Balance, end of period 1,350,000 $ 0.01 |
Schedule of Share-based Payment Arrangement, Option, Exercise Price Range | Schedule of Share-based Payment Arrangement, Option, Exercise Price Range Range of Exercise prices Outstanding Weighted average life (years) Weighted average exercise price Exercisable on June 30, 2022 Stock options $ 0.01 1,350,000 9.78 $ 0.01 1,350,000 |
Share Base Compensation (Tables
Share Base Compensation (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Equity [Abstract] | |
Schedule of Share Based Compensation | During the six months ended June 30, 2022 and 2021 the Company recognized the following share base compensation expenses in exchange for professional services received. Schedule of Share Based Compensation June 30, 2022 June 30, 2021 Restricted stock units $ 39,910 $ - Share issuance 240,000 512,470 Performance stock units 134,457 - Warrants - 37,000 Stock options 983,325 - Share base compensation service provider $ 1,397,692 $ 549,470 Share base compensation expensed from prepaid 1,374,177 556,555 Share base compensation $ 2,771,869 $ 1,106,025 |
Basis of Presentation and Bus_2
Basis of Presentation and Business Condition (Details Narrative) - USD ($) | 6 Months Ended | |||||
May 21, 2021 | Jun. 30, 2022 | Apr. 01, 2022 | Dec. 31, 2021 | Aug. 20, 2021 | Jun. 30, 2021 | |
Common Stock, Shares, Issued | 17,041,055 | 10,000 | 3,820,619 | 11,148,292 | ||
Common Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 | ||||
Working capital | $ 23,227,887 | |||||
Accumulated deficit | 27,039,733 | $ 20,849,805 | ||||
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents | 19,758,353 | |||||
Proceeds from Issuance of Private Placement | 19,758,353 | |||||
Warrants and stock options exercises | $ 32,780,000 | |||||
FINRA [Member] | ||||||
Stockholders equity, reverse stock split | the 1 for 20 reverse stock split effective on August 4, 2021. | |||||
Terravis Energy Inc [Member] | ||||||
Common Stock, Shares, Issued | 9,990,900 | 100 | ||||
Common Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 | ||||
Terravis Energy Inc [Member] | Cheif Executive Officer [Member] | ||||||
Preferred Stock, Shares Issued | 1,000 | |||||
Worksport USA Operations [Member] | ||||||
Common Stock, Shares, Issued | 1,000 | |||||
Common Stock, Par or Stated Value Per Share | $ 0.0001 |
Schedule of Inventory (Details)
Schedule of Inventory (Details) - USD ($) | Jun. 30, 2022 | Dec. 31, 2021 |
Inventory Disclosure [Abstract] | ||
Finished goods | $ 963,404 | $ 427,794 |
Promotional items | 852 | 728 |
Raw materials | 138,456 | 73,250 |
Inventory | $ 1,102,712 | $ 501,772 |
Schedule of Prepaid Expenses an
Schedule of Prepaid Expenses and Deposits (Details) - USD ($) | Jun. 30, 2022 | Dec. 31, 2021 |
Prepaid Expenses And Deposits | ||
Consulting, services and advertising | $ 2,676,244 | $ 4,328,389 |
Insurance | 42,126 | 3,041 |
Deposit | 1,807,490 | 384,065 |
Prepaid expenses and deposits, net | $ 4,525,860 | $ 4,715,495 |
Prepaid expenses and deposits_2
Prepaid expenses and deposits (Details Narrative) - USD ($) | Jun. 30, 2022 | Dec. 31, 2021 |
Prepaid Expenses And Deposits | ||
Prepaid expenses and deposits | $ 2,676,244 | $ 4,328,389 |
Schedule of Notes Payable (Deta
Schedule of Notes Payable (Details) | 12 Months Ended |
Dec. 31, 2021 USD ($) | |
Debt Disclosure [Abstract] | |
Balance | $ 367,058 |
Repayment | (103,847) |
Balance | $ 263,211 |
Schedule of Secured Notes Payab
Schedule of Secured Notes Payable (Details) - USD ($) | Jun. 30, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Debt Disclosure [Abstract] | |||
Balance owing | $ 263,211 | $ 263,211 | $ 367,058 |
Less amounts due within one year | (263,311) | (263,211) | |
Long-term portion |
Promissory Notes (Details Narra
Promissory Notes (Details Narrative) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||||||
Jun. 30, 2022 USD ($) | Jun. 30, 2021 USD ($) | Jun. 30, 2022 USD ($) | Jun. 30, 2021 USD ($) shares | Dec. 31, 2021 USD ($) $ / shares shares | Dec. 31, 2021 CAD ($) shares | Dec. 31, 2019 USD ($) | Dec. 31, 2017 USD ($) | Jun. 30, 2022 CAD ($) | Jun. 30, 2021 CAD ($) | Dec. 31, 2018 USD ($) | Dec. 31, 2018 CAD ($) | Dec. 31, 2017 CAD ($) | Dec. 31, 2016 USD ($) | Dec. 31, 2016 CAD ($) | |
Debt Instrument [Line Items] | |||||||||||||||
Gain on settlement of debt | $ 8,997 | $ 18,803 | |||||||||||||
Issuance of shares | shares | 3,350 | ||||||||||||||
Secured Promissory Note [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Secured debt | $ 73,452 | $ 123,231 | |||||||||||||
Debt instrument, face amount | 96,091 | 96,091 | 96,091 | $ 96,091 | $ 123,231 | $ 123,231 | |||||||||
Interest payable | 75,048 | 57,582 | 75,048 | 57,582 | $ 97,283 | $ 75,102 | |||||||||
Promissory Note [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Debt instrument, face amount | $ 22,639 | $ 30,884 | |||||||||||||
Unsecured Promissory Note [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Debt instrument, interest rate, stated percentage | 18% | 18% | |||||||||||||
Secured Promissory Note One [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Secured debt | $ 79,000 | ||||||||||||||
Debt instrument, face amount | 79,000 | 79,000 | 79,000 | 79,000 | |||||||||||
Debt instrument, interest rate, stated percentage | 18% | 18% | |||||||||||||
Interest payable | $ 52,223 | $ 38,032 | $ 52,223 | $ 38,032 | |||||||||||
Secured Promissory Note Two [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Secured debt | $ 53,848 | $ 67,700 | |||||||||||||
Debt instrument, face amount | $ 53,848 | ||||||||||||||
Debt instrument, interest rate, stated percentage | 12% | 12% | |||||||||||||
Interest payable | 14,740 | ||||||||||||||
Debt instrument, maturity date, description | The secured promissory notes were due in October and November 2018 | ||||||||||||||
Secured Promissory Note Two [Member] | Promissory Note Holders [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Repayments of secured debt | 62,905 | $ 80,108 | |||||||||||||
Gain on settlement of debt | 5,682 | ||||||||||||||
Secured Promissory Note Three [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Secured debt | $ 60,000 | ||||||||||||||
Interest payable | 73,886 | ||||||||||||||
Debt instrument, maturity date, description | The secured promissory notes were due in August and November 2018 | ||||||||||||||
Repayments of secured debt | $ 10,000 | ||||||||||||||
Gain on settlement of debt | $ 8,997 | ||||||||||||||
Debt instrument extended maturity date | Nov. 03, 2020 | ||||||||||||||
Issuance of shares | shares | 36,048 | 36,048 | |||||||||||||
Price per share | $ / shares | $ 0.09 |
Convertible Promissory Notes (D
Convertible Promissory Notes (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||
Feb. 28, 2020 | Feb. 25, 2020 | Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | Sep. 01, 2020 | |
Debt Instrument [Line Items] | |||||||||
Number of shares issued | 3,350 | ||||||||
Amortization of debt discount premium | $ 211,340 | ||||||||
Gains losses on extinguishment of debt | $ 8,997 | $ 18,803 | |||||||
Warrant [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Number of shares issued | 39,512 | ||||||||
Pre stock split common shares | 21 | 21 | |||||||
Warrants exercise per share | $ 4 | $ 4 | |||||||
Stock issued during period value new issues | $ 273,993 | ||||||||
Shares issued price per share | $ 6.05 | ||||||||
Common Stock [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Number of shares issued | 700,000 | ||||||||
Leonite Capital LLC [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt instrument face amount | $ 198,715 | $ 544,425 | $ 509,037 | $ 310,322 | |||||
Number of shares issued | 22,500 | 22,500 | |||||||
Warrant term | 5 years | ||||||||
Pre stock split common shares | 45,000 | ||||||||
Warrants exercise per share | $ 2 | ||||||||
Debt instrument unamortized discount | $ 16,215 | $ 44,425 | 41,537 | 25,322 | |||||
Repayments of convertible debt | $ 500,000 | ||||||||
Convertible debt | 182,500 | 467,500 | $ 285,000 | ||||||
Stock issued during period value new issues | 123,390 | ||||||||
Leonite Capital LLC [Member] | Convertible Debt [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt instrument face amount | $ 182,565 | ||||||||
Debt conversion converted instrument amount1 | $ 226,839 | ||||||||
Debt conversion converted instrument shares issued1 | 126,022 | ||||||||
Gains losses on extinguishment of debt | $ 44,274 | ||||||||
Leonite Capital LLC [Member] | Warrant [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Amortization of debt discount premium | $ 344,110 | ||||||||
Leonite Capital LLC [Member] | Common Stock [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt instrument face amount | $ 325,667 | ||||||||
Number of shares issued | 204,622 | ||||||||
Stock issued during period value new issues | $ 368,319 | ||||||||
Amortization of debt discount premium | 148,027 | ||||||||
Shares issued price per share | $ 1.80 | ||||||||
Gains losses on extinguishment of debt | $ 42,651 | ||||||||
Debt instrument convertible conversion price1 | $ 1.80 |
Shareholders_ Equity (Deficit)
Shareholders’ Equity (Deficit) (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Dec. 29, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Number of shares issued services | 15,000 | |||||
Stock issued during period, value, issued for services | $ 24,121 | |||||
Subscriptions payable | $ 499,542 | $ 499,542 | $ 430,116 | |||
Number of shares issued | 3,350 | |||||
Stock Issued During Period, Value, Other | $ 2,970,621 | |||||
Proceeds from issuance of private placement | 19,758,353 | |||||
Gain (loss) on settlement of debt | $ 8,997 | 18,803 | ||||
Consulting expense | $ 1,813,875 | $ 410,485 | $ 3,301,454 | $ 1,057,599 | ||
Stock issued during period shares new issues post consolidation | 237,500 | |||||
Stock issued during period value new issues post consolidation | $ 86,688 | |||||
Common stock, shares authorized | 299,000,000 | 299,000,000 | 299,000,000 | 299,000,000 | 299,000,000 | |
Common stock par value | $ 0.0001 | $ 0.0001 | $ 0.0001 | |||
Share-Based Payment Award, Options, Grants in Period, Gross | 60,000 | 712,500 | ||||
Series A Preferred Stock [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Share-Based Payment Award, Options, Grants in Period, Gross | 100 | 100 | ||||
Preferred stock voting rights | Series A Preferred Stock do not have any voting rights. Each share of Series B Preferred Stock has voting rights equal to 10,000 shares of common stock | |||||
Series B Preferred Stock [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Share-Based Payment Award, Options, Grants in Period, Gross | 100,000 | 100,000 | ||||
Preferred stock par value | $ 0.0001 | $ 0.0001 | $ 0.0001 | |||
Consulting Services [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Number of shares issued services | 241,559 | |||||
Consulting Agreement [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Number of shares issued services | 370,000 | |||||
Subscriptions payable | $ 337,145 | $ 337,145 | ||||
Share Subscription Agreement [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Number of shares issued | 259,808 | |||||
Number of shares issued stock splits | 5,196,154 | |||||
Share Subscription Agreement [Member] | Consulting Services [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Stock issued during period, value, issued for services | $ 741,159 | |||||
Share Subscription [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Number of shares issued stock splits | 67,000 | |||||
Loan Settlement Agreement [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Number of shares issued | 62,006 | |||||
Number of shares issued stock splits | 1,240,111 | |||||
Stock Issued During Period, Value, Other | $ 111,611 | |||||
Share price | $ 1.80 | $ 1.80 | ||||
Loans payable | $ 157,787 | $ 157,787 | ||||
Gain (loss) related to litigation settlement | $ 46,176 | |||||
Settlement Agreement [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Number of shares issued services | 62,006 | |||||
Number of shares issued stock splits | 1,240,111 | |||||
Settlement Agreement [Member] | Promissory Note Holder [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Number of shares issued | 204,622 | |||||
Number of shares issued value | $ 368,318 | |||||
Number of shares issued stock splits | 4,092,431 | |||||
Share price | $ 1.80 | $ 1.80 | ||||
Gain (loss) on settlement of debt | $ 42,651 | |||||
Promissory Notes Payable Settlement Agreement [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Number of shares issued | 36,048 | |||||
Number of shares issued stock splits | 720,996 | |||||
Stock Issued During Period, Value, Other | $ 64,891 | |||||
Share price | $ 1.80 | $ 1.80 | ||||
Loans payable | $ 73,886 | $ 73,886 | ||||
Gain (loss) related to litigation settlement | 8,997 | |||||
Convertible notes payable | $ 325,667 | $ 325,667 | ||||
Reg-A Public Offering [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Number of shares issued | 1,502,409 | |||||
Number of shares issued stock splits | 30,048,199 | |||||
Stock repurchased during period shares | 750 | |||||
Stock repurchased during period shares stock splits | 15,000 | |||||
Stock repurchased during period value | $ 1,500 | |||||
Payments of stock issuance costs | $ 123,984 | |||||
Reg A Public Offering Warrants [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Number of shares issued | 1,409,122 | |||||
Number of shares issued stock splits | 28,182,451 | |||||
Number of Securities Called by Warrants or Rights | 1,409,122 | 1,409,122 | ||||
Private Placement [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Number of shares issued | 2,040,990 | |||||
Proceeds from issuance of private placement | $ 4,081,980 | |||||
Pre Stock Split [Member] | Promissory Note Holder [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Share price | $ 0.09 | $ 0.09 | ||||
Pre Stock Split [Member] | Consulting Agreement [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Number of shares issued services | 7,400,000 | |||||
Stock issued during period, value, issued for services | $ 1,588,000 | |||||
Pre Stock Split [Member] | Loan Settlement Agreement [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Share price | 0.09 | $ 0.09 | ||||
Pre Stock Split [Member] | Promissory Notes Payable Settlement Agreement [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Share price | $ 0.09 | $ 0.09 | ||||
Pre Stock Split [Member] | Promissory Notes Payable Settlement Agreement [Member] | Notes Payble [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Number of shares issued stock splits | 720,966 | |||||
Pre Stock Split [Member] | Reg A Public Offering Warrants [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Number of Securities Called by Warrants or Rights | 28,182,451 | 28,182,451 | ||||
Common Stock [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Number of shares issued services | 150,000 | |||||
Stock issued during period, value, issued for services | $ 390,000 | |||||
Number of shares issued | 700,000 | |||||
Number of shares issued stock splits | 3,000,000 | |||||
Stock issued during period value issued for services | 211,667 | 211,667 | ||||
Stock issued during period shares other | 1,502,409 | |||||
Stock Issued During Period, Value, Other | $ 150 | |||||
Common Stock [Member] | Settlement Agreement [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Number of shares issued | 790,243 | |||||
Common Stock [Member] | Reg A Public Offering Warrants [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Number of shares issued | 1,311,394 | |||||
Stock issued during period value issued for services | 5,245,592 | 5,245,592 | ||||
Stock issued during period shares other | 97,729 | |||||
Stock Issued During Period, Value, Other | $ 390,915 | |||||
Common Stock [Member] | Pre Stock Split [Member] | Reg A Public Offering Warrants [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Number of shares issued | 26,227,876 | |||||
Stock issued during period shares other | 1,954,575 | |||||
Share Subscription Payable [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Stock Issued During Period, Value, Other | $ (32,700) | |||||
Share Subscription Payable [Member] | Reg-A Public Offering [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Number of shares issued | 15,500 | |||||
Number of shares issued value | $ 31,200 | |||||
Number of shares issued stock splits | 312,000 | |||||
Common Stock And Warrant [Member] | Pre Stock Split [Member] | Private Placement [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Number of shares issued | 40,819,800 | |||||
Warrant [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Number of shares issued | 39,512 | |||||
Number of shares issued value | $ 273,993 | |||||
Number of Securities Called by Warrants or Rights | 21 | 21 | ||||
Consulting expense | $ 37,000 | |||||
Consultant [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Number of shares issued services | 10,000 | |||||
Stock issued during period, value, issued for services | $ 86,000 | |||||
Subscriptions payable | $ 66,329 | 66,329 | ||||
Consultant [Member] | Restricted Stock [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Number of shares issued value | $ 0 | $ 1,482 | ||||
Consultant [Member] | Common Stock [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Number of shares issued | 80,000 | |||||
Consultant [Member] | Subscription Payable [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Stock issued during period, value, issued for services | $ 134,273 | |||||
Employee Compensation [Member] | Common Stock [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Number of shares issued value | $ 240,000 | |||||
Convertible Promissory Note Holder [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Number of Securities Called by Warrants or Rights | 39,512 | 39,512 | ||||
Convertible Promissory Note Holder [Member] | Settlement Agreement [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Number of shares issued | 790,243 | |||||
Steven Rossi [Member] | Promissory Note Holder [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Number of shares issued | 1,717,535 | |||||
Steven Rossi [Member] | Settlement Agreement [Member] | Promissory Note Holder [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Number of shares issued stock splits | 34,350,697 | |||||
Chief Executive Officer [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Share-Based Payment Award, Options, Grants in Period, Gross | 400,000 | |||||
Chief Executive Officer [Member] | Series A Preferred Stock [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Conversion of Stock, Shares Issued | 900 |
Related Party Transactions (Det
Related Party Transactions (Details Narrative) - USD ($) | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||
Related party loan | $ 49,646 | $ 35,547 | |
Chief Executive Officer [Member] | |||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||
Salaries expense | 150,068 | $ 77,026 | |
Salaries expenses | $ 125,056 | ||
Director [Member] | |||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||
Repayments of related party debt | 50,000 | ||
Chief Executive Officer and Director [Member] | US Based Corporation [Member] | |||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||
Repayments of related party debt | $ 59,203 |
Schedule of Changes in Operatin
Schedule of Changes in Operating Assets and Liabilities (Details) - USD ($) | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Decrease (increase) in accounts receivable | $ (3,850) | $ 16,504 |
Decrease (increase) in other receivable | (15,195) | 116,997 |
Decrease (increase) in inventory | (600,940) | (212,344) |
Decrease (increase) in prepaid expenses and deposits | (1,658,508) | (220,841) |
Increase (decrease) in lease liability | (22,939) | 1,823 |
Increase (decrease) in taxes payable | (112,189) | 2,970 |
Increase (decrease) in accounts payable and accrued liabilities | 585,813 | (34,428) |
Changes in operating assets and liabilities | $ (1,827,808) | $ (329,319) |
Commitments and contingencies (
Commitments and contingencies (Details Narrative) | 12 Months Ended |
Dec. 31, 2021 $ / shares shares | |
Defined Benefit Plan Disclosure [Line Items] | |
Issuance of shares for services, shares | shares | 15,000 |
Third Party [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Shares issued price per share | $ / shares | $ 0.001 |
Reverse Stock Split (Details Na
Reverse Stock Split (Details Narrative) - FINRA [Member] | May 21, 2021 |
Stockholders equity, reverse stock split | the 1 for 20 reverse stock split effective on August 4, 2021. |
Board of Directors Chairman [Member] | |
Stockholders equity, reverse stock split | the rate of 1-for-20 for the purpose of increasing the per share price for the Company’s stock in an effort to meet the minimum listing requirements of the Nasdaq Stock Market, LLC. The Certificate of Change was submitted to the Nevada Secretary of State on May 21, 2021, and FINRA announced the reverse stock split on August 3, 2021. The reverse stock split took effect in the marketplace on August 4, 2021. |
Investment (Details Narrative)
Investment (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Jun. 30, 2022 | |
Purchase shares | 10,000,000 | |
Purchase value | $ 50,000 | |
Advance receivable for stock issuance | $ 24,423 | |
Mobile phone development company [Member] | ||
Ownership percentage | 10% |
Schedule Right-of-use Asset (De
Schedule Right-of-use Asset (Details) - USD ($) | Jun. 30, 2022 | Dec. 31, 2021 |
Lease Liabilities | ||
Right-of-use asset | $ 1,424,599 | $ 515,819 |
Current lease liability | 366,579 | 212,929 |
Long-term lease liability | $ 1,084,216 | $ 316,988 |
Schedule of Components of Lease
Schedule of Components of Lease Expense (Details) - USD ($) | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Lease Liabilities | ||
Amortization of right-of-use | $ 133,937 | $ 28,927 |
Interest on lease liability | 54,697 | 6,704 |
Total lease cost | $ 188,634 | $ 35,631 |
Schedule of Future Minimum Leas
Schedule of Future Minimum Lease Payments (Details) - USD ($) | Jun. 30, 2022 | Dec. 31, 2021 |
Lease Liabilities | ||
2022 | $ 246,535 | |
2023 | 493,026 | |
2024 | 361,298 | |
2025 and after | 664,570 | |
Total future minimum lease payments | 1,765,429 | |
Less: amount representing interest | (314,634) | |
Present value of future payments | 1,450,795 | |
Current portion | 366,579 | $ 212,929 |
Long term portion | $ 1,084,216 | $ 316,988 |
Lease Liabilities (Details Narr
Lease Liabilities (Details Narrative) - USD ($) | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | Dec. 31, 2019 | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||
Right of use of asset | $ 1,042,718 | $ 622,173 | ||
Lease liability | $ 1,042,718 | $ 622,173 | ||
Lease Agreement [Member] | ||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||
Lease expiration date | May 31, 2027 | May 31, 2024 | Jul. 31, 2022 | |
Monthly lease payments | $ 20,808 | $ 19,910 | $ 2,221 | |
Incremental borrowing rate | 10% |
Loan payable (Details Narrative
Loan payable (Details Narrative) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||
Jun. 30, 2022 USD ($) | Jun. 30, 2021 USD ($) $ / shares | Jun. 30, 2022 USD ($) | Jun. 30, 2021 USD ($) $ / shares shares | Dec. 31, 2020 USD ($) | Dec. 31, 2020 CAD ($) | Jun. 30, 2022 CAD ($) | Dec. 31, 2021 $ / shares | |
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Proceeds from loans | $ 28,387 | $ 40,000 | ||||||
Shares issued | shares | 3,350 | |||||||
Loan forgiveness percentage | 25% | 25% | ||||||
Debt instrument fair value | $ 28,387 | $ 28,387 | $ 40,000 | |||||
Interest expenses | 180,015 | $ 18,100 | 205,110 | $ 249,000 | ||||
Loans Payable [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Accrued interest | $ 1,319 | 1,319 | ||||||
Loans payable | 150,439 | 150,439 | ||||||
Interest outstanding | $ 7,336 | 7,336 | ||||||
Gain on settlement | $ 46,176 | |||||||
Loans Payable [Member] | Common Stock [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Shares issued | shares | 1,240,111 | |||||||
Shares issued price per share | $ / shares | $ 0.09 | $ 0.09 | ||||||
Unrelated Third Party One [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Proceeds from loans | $ 32,439 | |||||||
Unrelated Third Party Two [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Proceeds from loans | 10,000 | |||||||
Unrelated Third Party Third [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Proceeds from loans | $ 108,000 | |||||||
Unrelated Third Party [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Interest rate | 10% | 10% | ||||||
Maturity date description | maturity date of December 31, July 22 and August 31, 2021, respectively. | maturity date of December 31, July 22 and August 31, 2021, respectively. | ||||||
Third Party [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Shares issued price per share | $ / shares | $ 0.001 | |||||||
Third Party [Member] | Loan Agreement [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Proceeds from loans | $ 5,300,000 | |||||||
Interest rate | 2.25% | 2.25% | 2.25% | |||||
Maturity date | May 10, 2024 | |||||||
Interest expenses | $ 115,255 |
Government Assistance (Details
Government Assistance (Details Narrative) | 6 Months Ended | ||
Jun. 30, 2022 USD ($) | Jun. 30, 2022 CAD ($) | Jun. 30, 2021 USD ($) | |
Canada Emergency Wage Subsidy [Member] | |||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||
Subsidy received | $ 0 | $ 63,905 | $ 51,606 |
Canada Emergency Rent Subsidy [Member] | |||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||
Subsidy received | $ 0 | $ 6,000 | $ 4,971 |
Loss per Share (Details Narrati
Loss per Share (Details Narrative) - $ / shares | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Apr. 01, 2022 | Dec. 31, 2021 | |
Earnings per share basic and diluted | $ 0.20 | $ 0.08 | $ 0.36 | $ 0.27 | ||
Weighted average number of shares outstanding basic and diluted | 17,022,587 | 9,827,576 | 17,005,405 | 7,505,625 | ||
Common stock, shares authorized | 299,000,000 | 299,000,000 | 299,000,000 | 299,000,000 | 299,000,000 | |
Common stock, shares outstanding | 17,041,055 | 11,148,292 | 17,041,055 | 11,148,292 | 10,000 | 3,820,619 |
Common stock, shares outstanding | 17,041,055 | 11,148,292 | 17,041,055 | 11,148,292 | 3,820,619 | |
Total underlying, common shares | 5,002,570 | 5,002,570 | ||||
Issuance of shares | 3,350 | |||||
Common Stock [Member] | ||||||
Shares to be issued | 211,667 | 211,667 | ||||
Total underlying, common shares | 6,577,513 | 5,002,570 | 6,577,513 | 5,002,570 | ||
Restricted stock, issued | 1,070,000 | |||||
Issuance of shares | 700,000 | |||||
Stock options exercisable, common shares | 2,122,500 | 2,122,500 | ||||
Common Stock [Member] | Equity Option [Member] | ||||||
Issuance of shares | 2,122,500 | |||||
Common Stock [Member] | Performance Stock Units [Member] | ||||||
Issuance of shares | 700,000 | |||||
Warrant [Member] | ||||||
Warrants convertible | 5,586,502 | 2,961,580 | ||||
Total underlying, common shares | 10,470,013 | 10,470,013 | ||||
Issuance of shares | 39,512 |
Schedule of Warrants Exercise P
Schedule of Warrants Exercise Price (Details) | 6 Months Ended |
Jun. 30, 2022 $ / shares shares | |
Warrant, outstanding | 5,586,502 |
Weighted average life (years) | 2 years 2 months 15 days |
Warrants One [Member] | |
Exercise price | $ / shares | $ 4 |
Warrant, outstanding | 1,690,969 |
Weighted average life (years) | 3 months |
Warrants expiry date | Oct. 01, 2022 |
Warrants Two [Member] | |
Exercise price | $ / shares | $ 6.05 |
Warrant, outstanding | 3,577,545 |
Weighted average life (years) | 2 years 1 month 6 days |
Warrants expiry date | Aug. 06, 2024 |
Warrants Three [Member] | |
Exercise price | $ / shares | $ 2 |
Warrant, outstanding | 5,488 |
Weighted average life (years) | 2 years 7 months 28 days |
Warrants expiry date | Feb. 25, 2025 |
Warrants Four [Member] | |
Exercise price | $ / shares | $ 2.40 |
Warrant, outstanding | 62,500 |
Weighted average life (years) | 2 years 8 months 19 days |
Warrants expiry date | Mar. 20, 2025 |
Warrants Five [Member] | |
Exercise price | $ / shares | $ 2 |
Warrant, outstanding | 250,000 |
Weighted average life (years) | 3 years 6 months 18 days |
Warrants expiry date | Jan. 14, 2026 |
Schedule of Warrants Activity (
Schedule of Warrants Activity (Details) - $ / shares | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Warrants | ||
Number of warrants, balance, beginning of year | 5,658,315 | 716,815 |
Weighted average price, balance, beginning of year | $ 4.30 | $ 4 |
Number of warrants, issuance | 130,909 | 7,457,036 |
Weighted average price, issuance | $ 6.05 | $ 4.30 |
Number of warrants, expired | (202,701) | (26,815) |
Weighted average price, expired | $ (4) | $ (4) |
Number of warrants, exercise | (21) | (2,488,721) |
Weighted average price, exercise | $ (4) | $ (4) |
Number of warrants, balance, end of period | 5,586,502 | 5,658,315 |
Weighted average price, balance, ending of year | $ 4.35 | $ 4.30 |
Warrants (Details Narrative)
Warrants (Details Narrative) - USD ($) | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | Apr. 01, 2022 | |
Warrants exercised | 21 | 2,488,721 | ||
Issuance of shares | 3,350 | |||
Common stock, shares issued | 17,041,055 | 11,148,292 | 3,820,619 | 10,000 |
Additional warrants valued | $ 37,000 | |||
Number of warrants, expired | 202,701 | 26,815 | ||
Warrant Agreement [Member] | ||||
Warrants exercise per share | $ 2 | |||
Additional warrants issued | 250,000 | |||
Warrant Agreement [Member] | Warrant Holder [Member] | ||||
Additional warrants issued | 150,000 | |||
Common Stock [Member] | ||||
Warrants exercised | 1,448,635 | |||
Warrant [Member] | ||||
Class of warrant or right number of securities | 21 | |||
Warrants exercised | 1,409,122 | 1,448,635 | ||
Warrants exercise per share | $ 4 | |||
Issuance of shares | 39,512 | |||
Shares issued price per share | $ 6.05 | |||
Stock issued during period shares stock options exercised | 130,909 | |||
Issued value | $ 273,993 | |||
Number of warrants, expired | 26,815 | |||
Warrant [Member] | Underwritters [Member] | ||||
Issuance of shares | 130,909 | |||
Common Stock [Member] | ||||
Warrant exercised | $ 127 | |||
Warrants exercised | 202,701 | |||
Issuance of shares | 700,000 | |||
Options grants | 1,070,000 | |||
Warrants One [Member] | ||||
Warrants exercised | 39,512 | |||
Issuance of shares | 1,350,906 | |||
Common stock, shares issued | 97,729 | |||
Warrants Two [Member] | ||||
Options grants | 1,502,409 | |||
Warrants issued | 2,040,990 | |||
Shares issued price per share | $ 4 | |||
Warrants Two [Member] | Over-Allotment Option [Member] | ||||
Warrants issued | 490,909 | |||
Warrant Three [Member] | ||||
Options grants | 3,763,636 | |||
Warrants issued | 3,272,727 | |||
Shares issued price per share | $ 6.05 |
Schedule of Stock Options Activ
Schedule of Stock Options Activity (Details) - $ / shares | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Number of options, balance, beginning of period | 712,500 | |
Weighted average price, balance, beginning of period | $ 5 | |
Number of options, granted | 60,000 | 712,500 |
Weighted average price, granted | $ 2.34 | $ 5 |
Number of options, balance, end of period | 772,500 | 712,500 |
Weighted average price, balance, end of period | $ 4.79 | $ 5 |
Terravis Energy Inc [Member] | ||
Number of options, balance, beginning of period | ||
Weighted average price, balance, beginning of period | ||
Number of options, granted | 1,350,000 | |
Weighted average price, granted | $ 0.01 | |
Number of options, balance, end of period | 1,350,000 | |
Weighted average price, balance, end of period | $ 0.01 |
Schedule of Share-based Payment
Schedule of Share-based Payment Arrangement, Option, Exercise Price Range (Details) | 6 Months Ended |
Jun. 30, 2022 $ / shares shares | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |
Weighted average exercise price | $ / shares | $ 4.79 |
Number of shares outstanding | shares | 772,500 |
Weighted average life (years) | 4 years 7 months 2 days |
Number of shares exercisable | shares | 382,500 |
Terravis Energy Inc [Member] | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |
Weighted average exercise price | $ / shares | $ 0.01 |
Number of shares outstanding | shares | 1,350,000 |
Weighted average life (years) | 9 years 9 months 10 days |
Number of shares exercisable | shares | 1,350,000 |
Minimum [Member] | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |
Weighted average exercise price | $ / shares | $ 2.19 |
Maximum [Member] | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |
Weighted average exercise price | $ / shares | $ 5.50 |
Stock Options (Details Narrativ
Stock Options (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||||||||||
Dec. 29, 2024 | Dec. 29, 2023 | Sep. 01, 2023 | Mar. 01, 2023 | Dec. 29, 2022 | Sep. 01, 2022 | Mar. 01, 2022 | Dec. 29, 2021 | Nov. 02, 2021 | Oct. 07, 2021 | Sep. 02, 2021 | Sep. 01, 2021 | Aug. 06, 2021 | Jul. 23, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||||||||||||||||
Number of stock options grants | 60,000 | 712,500 | |||||||||||||||||
Share based compensation | $ 2,771,869 | $ 1,106,025 | |||||||||||||||||
Exercise price | $ 2.34 | $ 5 | |||||||||||||||||
Consulting expense | $ 1,813,875 | $ 410,485 | $ 3,301,454 | 1,057,599 | |||||||||||||||
Chief Executive Officer [Member] | |||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||||||||||||||||
Number of stock options grants | 400,000 | ||||||||||||||||||
Share based payment award vesting rights, description | The PSU will vest in 5% increments according to a schedule that correlates with the Company’s stock price. The first 5% of the PSUs vest upon the Company’s stock price closing at $3.00. 50% will have vested at a closing price of $16.50 and 100% will have vested at a closing price of $31.50. | ||||||||||||||||||
Fair value | $ 2,308,012 | ||||||||||||||||||
Share based compensation | 134,457 | 0 | |||||||||||||||||
Director [Member] | |||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||||||||||||||||
Number of stock options grants | 300,000 | 15,000 | |||||||||||||||||
Share based payment award vesting rights, description | The stock options vested on January 1, 2022. The fair value of the options on the grant date was estimated to be $129,480. | ||||||||||||||||||
Fair value | $ 129,480 | ||||||||||||||||||
Exercise price | $ 5.50 | ||||||||||||||||||
Expiry date | Jul. 23, 2026 | ||||||||||||||||||
Consulting expense | 799 | 0 | |||||||||||||||||
Directors Advisors and Officers [Member] | |||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||||||||||||||||
Number of stock options grants | 140,000 | ||||||||||||||||||
Share based payment award vesting rights, description | The stock options vested on January 1, 2022. The fair value of the options on grant date was estimated to be $754,189. | ||||||||||||||||||
Fair value | $ 754,189 | ||||||||||||||||||
Exercise price | $ 5.50 | ||||||||||||||||||
Expiry date | Aug. 06, 2026 | ||||||||||||||||||
Consulting expense | 5,096 | 0 | |||||||||||||||||
Consultants [Member] | |||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||||||||||||||||
Number of stock options grants | 400,000 | ||||||||||||||||||
Share based payment award vesting rights, description | The options have a vesting period of 6 months from the initial grant date; | ||||||||||||||||||
Fair value | $ 2,112,000 | ||||||||||||||||||
Exercise price | $ 5.32 | ||||||||||||||||||
Expiry date | Sep. 01, 2026 | ||||||||||||||||||
Consulting expense | 528,064 | 0 | |||||||||||||||||
Stock option vested | 100,000 | 100,000 | |||||||||||||||||
Consultants [Member] | Forecast [Member] | |||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||||||||||||||||
Stock option vested | 100,000 | 100,000 | |||||||||||||||||
Advisor One [Member] | |||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||||||||||||||||
Number of stock options grants | 5,000 | ||||||||||||||||||
Fair value | $ 353,230 | ||||||||||||||||||
Exercise price | $ 5.50 | ||||||||||||||||||
Expiry date | Oct. 07, 2026 | ||||||||||||||||||
Advisor Two [Member] | |||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||||||||||||||||
Number of stock options grants | 62,500 | ||||||||||||||||||
Exercise price | $ 5.24 | ||||||||||||||||||
Expiry date | Nov. 02, 2026 | ||||||||||||||||||
Consulting expense | 32,856 | 0 | |||||||||||||||||
Board of Directors Chairman [Member] | |||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||||||||||||||||
Number of stock options grants | 90,000 | ||||||||||||||||||
Share based payment award vesting rights, description | The options have a vesting period of 1 year from the initial grant date; | ||||||||||||||||||
Fair value | $ 224,280 | ||||||||||||||||||
Exercise price | $ 2.51 | ||||||||||||||||||
Expiry date | Dec. 29, 2026 | ||||||||||||||||||
Consulting expense | 37,482 | $ 0 | |||||||||||||||||
Board of Directors Chairman [Member] | Forecast [Member] | |||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||||||||||||||||
Stock option vested | 10,000 | 10,000 | 10,000 | ||||||||||||||||
Advisor [Member] | |||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||||||||||||||||
Consulting expense | $ 283,180 | ||||||||||||||||||
Advisor [Member] | Equity Option [Member] | |||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||||||||||||||||
Number of stock options grants | 10,000 | ||||||||||||||||||
Fair value | $ 21,780 | ||||||||||||||||||
Exercise price | $ 2.19 | ||||||||||||||||||
Expiry date | Feb. 07, 2027 | ||||||||||||||||||
Advisor [Member] | Stock Option One [Member] | |||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||||||||||||||||
Number of stock options grants | 50,000 | ||||||||||||||||||
Fair value | $ 261,400 | ||||||||||||||||||
Exercise price | $ 2.37 | ||||||||||||||||||
Expiry date | May 05, 2032 | ||||||||||||||||||
Officer And Directors [Member] | |||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||||||||||||||||
Number of stock options grants | 1,350,000 | ||||||||||||||||||
Exercise price | $ 0.01 | ||||||||||||||||||
Expiry date | Apr. 12, 2032 | ||||||||||||||||||
2015 Equity Incentive Plan [Member] | |||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||||||||||||||||
Share based compensation, description | the number of common shares reserved for issuance under the option plan shall not exceed 10% of the issued and outstanding common shares of the Company, have a maximum term of 10 years and vest at the discretion of the Board of Directors. | ||||||||||||||||||
Stock option, term | 10 years |
Rental Income (Details Narrativ
Rental Income (Details Narrative) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2022 USD ($) | Jun. 30, 2021 USD ($) | Jun. 30, 2022 USD ($) | Jun. 30, 2022 CAD ($) | Jun. 30, 2021 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2019 USD ($) | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||
Rental income | $ 96,218 | $ 96,218 | |||||
Sublease Agreement [Member] | |||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||
Expiration date | May 31, 2024 | May 31, 2024 | |||||
Lease payments | $ 15,515 | $ 19,992 | |||||
Lease Agreement [Member] | |||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||
Expiration date | May 31, 2027 | May 31, 2027 | May 31, 2024 | Jul. 31, 2022 | |||
Lease payments | $ 20,808 | $ 19,910 | $ 2,221 | ||||
Lease Agreement [Member] | Third Party [Member] | |||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||
Expiration date | Dec. 31, 2022 | Dec. 31, 2022 | |||||
Lease payments | $ 33,750 |
Schedule of Share Based Compens
Schedule of Share Based Compensation (Details) - USD ($) | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Equity [Abstract] | ||
Restricted stock units | $ 39,910 | |
Share issuance | 240,000 | 512,470 |
Performance stock units | 134,457 | |
Warrants | 37,000 | |
Stock options | 983,325 | |
Share base compensation service provider | 1,397,692 | 549,470 |
Share base compensation expensed from prepaid | 1,374,177 | 556,555 |
Share base compensation | $ 2,771,869 | $ 1,106,025 |