Cover
Cover - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Jun. 30, 2021 | Mar. 09, 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 | 000-32917 | ||
Entity Registrant Name | PROTOKINETIX, INCORPORATED | ||
Entity Central Index Key | 0001128189 | ||
Entity Tax Identification Number | 94-3355026 | ||
Entity Incorporation, State or Country Code | NV | ||
Entity Address, Address Line One | 412 Mulberry Street | ||
Entity Address, City or Town | Marietta | ||
Entity Address, State or Province | OH | ||
Entity Address, Postal Zip Code | 45750 | ||
City Area Code | 740 | ||
Local Phone Number | 434-5041 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
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 Public Float | $ 0 | ||
Entity Common Stock, Shares Outstanding | 299,530,151 | ||
Auditor Firm ID | 731 | ||
Auditor Name | DAVIDSON & COMPANY LLP | ||
Auditor Location | Canada |
BALANCE SHEETS
BALANCE SHEETS - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Current Assets | ||
Cash | $ 57,568 | $ 193,445 |
Prepaid expenses and deposits (Note 3) | 25,995 | 1,050 |
Total current assets | 83,563 | 194,495 |
Intangible assets (Note 4) | 362,671 | 274,686 |
Total assets | 446,234 | 469,181 |
Current Liabilities | ||
Accounts payable and accrued liabilities | 93,268 | 44,959 |
Total liabilities | 93,268 | 44,959 |
Stockholders' Equity | ||
Common stock, $0.0000053 par value; 500,000,000 common shares authorized; 297,393,485 and 285,955,071 shares issued and outstanding for 2021 and 2020 respectively (Note 7) | 1,591 | 1,531 |
Additional paid-in capital | 45,892,545 | 43,615,323 |
Accumulated deficit | (45,541,170) | (43,192,633) |
Total stockholders' equity | 352,966 | 424,221 |
Total liabilities and stockholders' equity | $ 446,234 | $ 469,181 |
BALANCE SHEETS (Parenthetical)
BALANCE SHEETS (Parenthetical) - $ / shares | Dec. 31, 2021 | Dec. 31, 2020 |
Statement of Financial Position [Abstract] | ||
Common Stock, Par or Stated Value Per Share | $ 0.0000053 | $ 0.0000053 |
Common Stock, Shares Authorized | 500,000,000 | |
Common Stock, Shares, Outstanding | 297,393,485 | 285,955,071 |
STATEMENTS OF OPERATIONS
STATEMENTS OF OPERATIONS - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
EXPENSES | ||
Amortization – intangible assets (Note 4) | $ 3,000 | $ 3,000 |
General and administrative | 316,995 | 208,967 |
Professional fees (Note 8) | 160,388 | 164,489 |
Research and development | 435,872 | 527,291 |
Share-based compensation (Notes 5 and 8) | 1,413,055 | 6,740,743 |
Operating Income (Expenses) | (2,329,310) | (7,644,490) |
Net loss for the year | $ (2,329,310) | $ (7,644,490) |
Net loss per common share (basic and diluted) | $ 0 | $ (0.03) |
Weighted average number of common shares outstanding (basic and diluted) | 291,865,922 | 278,598,615 |
STATEMENT OF STOCKHOLDERS' EQUI
STATEMENT OF STOCKHOLDERS' EQUITY - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Beginning balance, value at Dec. 31, 2019 | $ 1,472 | $ 36,107,058 | $ (35,548,143) | $ 560,387 |
Beginning balance, Shares at Dec. 31, 2019 | 275,400,259 | |||
Fair value of share-based compensation | 6,740,743 | 6,740,743 | ||
Issuance of common stock pursuant to private placement offering | $ 59 | 767,522 | 767,581 | |
Issuance of common stock pursuant to private placement offering, Shares | 10,554,812 | |||
Net loss for the year | (7,644,490) | (7,644,490) | ||
Ending balance, value at Dec. 31, 2020 | $ 1,531 | 43,615,323 | (43,192,633) | 424,221 |
Ending balance, Shares at Dec. 31, 2020 | 285,955,071 | |||
Fair value of share-based compensation | 1,413,055 | 1,413,055 | ||
Issuance of common stock pursuant to private placement offering | $ 41 | 569,959 | 570,000 | |
Issuance of common stock pursuant to private placement offering, Shares | 7,668,572 | |||
Issuance of common stock pursuant to warrant exercise | $ 17 | 274,983 | 275,000 | |
Issuance of common stock pursuant to warrant exercise, Shares | 3,214,286 | |||
Issuance of common stock pursuant to cashless option exercise | $ 3 | (3) | ||
Issuance of common stock pursuant to cashless option exercise, Shares | 555,556 | |||
Extension of the terms of warrants | 19,227 | (19,227) | ||
Net loss for the year | (2,329,310) | (2,329,310) | ||
Ending balance, value at Dec. 31, 2021 | $ 1,591 | $ 45,892,545 | $ (45,541,170) | $ 352,966 |
Ending balance, Shares at Dec. 31, 2021 | 297,393,485 |
STATEMENTS OF CASH FLOWS
STATEMENTS OF CASH FLOWS - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
CASH FLOWS USED IN OPERATING ACTIVITIES | ||
Net loss for the year | $ (2,329,310) | $ (7,644,490) |
Adjustments to reconcile net loss to cash used in operating activities: | ||
Amortization – intangible assets | 3,000 | 3,000 |
Fair value of compensatory options granted | 1,413,055 | 6,740,743 |
Changes in operating assets and liabilities: | ||
Prepaid expenses and deposits | (24,945) | 0 |
Accounts payable and accrued liabilities | 48,309 | 19,439 |
Net cash used in operating activities | (889,891) | (881,308) |
CASH FLOWS USED IN INVESTING ACTIVITIES | ||
Purchase of intangible assets | (90,985) | (70,178) |
Net cash used in investing activities | (90,985) | (70,178) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Issuance of common stock for cash | 845,000 | 767,581 |
Net cash from financing activities | 845,000 | 767,581 |
Net change in cash | (135,877) | (183,905) |
Cash, beginning of year | 193,445 | 377,350 |
Cash, end of year | 57,568 | 193,445 |
Cash paid for interest | 0 | 0 |
Cash paid for income taxes | 0 | 0 |
Supplementary information – non-cash transactions: | ||
There were no non-cash financing or investing activities. | $ 0 | $ 0 |
Basis of Presentation _ Going C
Basis of Presentation – Going Concern Uncertainties | 12 Months Ended |
Dec. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation – Going Concern Uncertainties | Note 1. Basis of Presentation – Going Concern Uncertainties ProtoKinetix, Inc. (the "Company"), a development stage company, was incorporated under the laws of the State of Nevada on December 23, 1999. The Company is a medical research company whose mission is the advancement of human health care. The Company is currently researching the benefits and feasibility of synthesized Antifreeze Glycoproteins ("AFGP") or anti-aging glycoproteins, trademarked AAGP. During the year ended December 31, 2015, the Company acquired certain patents and rights for cash consideration of $ 30,000 (25,000 Euros), as well as additional patent applications for cash consideration of $ 10,000 and 6,000,000 share purchase warrants with a fair value of $ 25,000 (Note 4). The Company's financial statements are prepared consistent with accounting principles generally accepted in the United States applicable to a going concern. The Company has not developed a commercially viable product, has not generated any significant revenue to date, and has incurred losses since inception, resulting in a net accumulated deficit at December 31, 2021. These factors raise substantial doubt about the Company's ability to continue as a going concern. The Company needs additional working capital to continue its medical research or to be successful in any future business activities and continue to pay its liabilities. Therefore, continuation of the Company as a going concern is dependent upon obtaining the additional working capital necessary to accomplish its objective. Management is presently engaged in seeking additional working capital through equity financing or related party loans. 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. As of the date of this filing, the Company has regained a significant portion of its operational capacity and we continue to move forward with our research goals. Our supply of the patented AAGP® molecule has been manufactured and stored in the United States and we have adequate inventory to carry out the projects currently underway. The Company engages contract research organizations (CROs) located in both the United States and Canada. The CROs contracted by the Company for research projects have been able to meet milestone goals without disruption due to the pandemic. We cannot predict future disruptions to the Company which may occur due to the spread of COVID-19. We continue to monitor the status of the pandemic and will adjust our strategy accordingly in order to mitigate the impact on our research projects. The accompanying financial statements do not include any adjustments to the recorded assets or liabilities that might be necessary should the Company fail in any of the above objectives and is unable to operate for the coming year. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Note 2. Summary of Significant Accounting Policies Basis of Presentation The accompanying financial statements have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America ("US GAAP") and are expressed in United States dollars. Use of Estimates Preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The more significant accounting estimates inherent in the preparation of the Company's financial statements include estimates as to valuation of equity- related instruments issued, deferred income taxes and the useful life and impairment of intangible assets. Cash Cash consists of funds held in checking accounts. Cash balances may exceed federally insured limits from time to time. Fair Value of Financial Instruments Financial instruments, which includes cash, accounts payable and accrued liabilities are carried at amortized cost, which management believes approximates fair value due to the short-term nature of these instruments. The Company measures the fair value of financial assets and liabilities pursuant to ASC 820 "Fair Value Measurements and Disclosures" which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. ASC 820 establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The policy describes three levels of inputs that may be used to measure fair value: Level 1 – quoted prices in active markets for identical assets or liabilities. Level 2 – quoted prices for similar assets and liabilities in active markets or inputs that are observable. Level 3 – inputs that are unobservable (for example cash flow modeling inputs based on assumptions). At December 31, 2021, there were no other assets or liabilities subject to additional disclosure. Income Taxes The Company accounts for income taxes following the assets and liability method in accordance with the ASC 740 "Income Taxes." Under such method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. The Company applies the accounting guidance issued to address the accounting for uncertain tax positions. This guidance clarifies the accounting for income taxes, by prescribing a minimum recognition threshold a tax position is required to meet before being recognized in the financial statements as well as provides guidance on derecognition, measurement, classification, interest and penalties, accounting in interim periods, disclosure and transition Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years that the asset is expected to be recovered or the liability settled. Intangible assets – patent and patent application costs The Company owns intangible assets consisting of certain patents and patent applications. Intangible assets acquired separately are measured on initial recognition at cost. Following initial recognition, intangible assets are carried at cost less any accumulated amortization and any accumulated impairment losses. Subsequent expenditures are capitalized only when they increase the future economic benefits embodied in the specific asset to which they relate. All other expenditures are recognized in profit or loss as incurred. As at December 31, 2021, the Company does not hold any intangible assets with indefinite lives. Intangible assets with finite lives are amortized over the useful economic life and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortization method and amortization period of an intangible asset with a finite life is reviewed at least annually. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset is accounted for by changing the amortization period or method, as appropriate, and are treated as changes in accounting estimates. Amortization is recognized in profit or loss on a straight-line basis over the estimated useful lives of the Company's patents, whereas no amortization has been recognized on the patent application costs at December 31, 2021. Research and Development Costs Research and development costs are expensed as incurred. Loss per Share and Potentially Dilutive Securities Basic loss per share is computed by dividing the net loss available to common stockholders by the weighted average number of common shares outstanding in the period. Diluted loss per share takes into consideration common shares outstanding (computed under basic earnings per share) and potentially dilutive securities. The effect of 84,690,000 stock options (December 31, 2020 – 82,650,000 ) and 12,081,143 warrants (December 31, 2020 – 10,326,857 ) were not included in the computation of diluted earnings per share for all periods presented because it was anti-dilutive due to the Company's losses. Share-Based Compensation The Company has granted warrants and options to purchase shares of the Company's common stock to various parties for consulting services. The fair values of the warrants and options issued have been estimated using the Black-Scholes Option Pricing Model. The Company accounts for stock compensation with persons classified as employees for accounting purposes in accordance with ASC 718 "Compensation – Stock Compensation", which recognizes awards at fair value on the date of grant and recognition of compensation over the service period for awards expected to vest. Cliff Vesting is used and awards vest on the last day of the vesting period. The fair value of stock options is determined using the Black-Scholes Option Pricing Model. The fair value of common shares issued for services is determined based on the Company's stock price on the date of issuance. Share-based compensation for non-employees in exchange for goods and services used or consumed in an entity’s own operations are also recorded at fair value on the measurement date and accounted for in accordance with ASC 718. The measurement of share-based compensation is subject to periodic adjustment as the underlying instruments vest. The fair value of stock options is estimated using the Black-Scholes Option Pricing Model and the compensation charges are amortized over the vesting period. Common stock Common stock issued for non-monetary consideration are recorded at their fair value on the measurement date and classified as equity. The measurement date is defined as the earliest of the date at which the commitment for performance by the counterparty to earn the common shares is reached or the date at which the counterparty's performance is complete. Transaction costs directly attributable to the issuance of common stock, units and stock options are recognized as a deduction from equity, net of any tax effects. Related Party Transactions A related party is generally defined as (i) any person that holds 10% or more of the Company's securities and their immediate families, (ii) the Company's management, (iii) someone that directly or indirectly controls, is controlled by or is under common control with the Company, or (iv) anyone who can significantly influence the financial and operating decisions of the Company. A transaction is considered to be a related party transaction when there is a transfer of resources or obligations between related parties. Recent Accounting Pronouncements In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which simplifies the accounting for income taxes by removing certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The new ASU also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates. These changes aim to improve the overall usefulness of disclosures to financial statement users and reduce unnecessary costs to companies when preparing the disclosures. The guidance was effective for the Company beginning on January 1, 2021 and prescribes different transition methods for the various provisions. The adoption of ASU 2019-12 did not have a material impact on the Company’s financial statements and related disclosures. Other than the above, the Company has determined that other significant newly issued accounting pronouncements are either not applicable to the Company’s business or that no material effect is expected on the financial statements as a result of future adoption. |
Prepaid Expenses and Deposits
Prepaid Expenses and Deposits | 12 Months Ended |
Dec. 31, 2021 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Prepaid Expenses and Deposits | Note 3. Prepaid Expenses and Deposits The following summarizes the Company's prepaid expenses and deposits outstanding as at December 31, 2021 and 2020: Schedule of prepaid expenses 2021 2020 Rental deposit $ 1,050 $ 1,050 Deposit on February 11, 2022 shareholder meeting 24,945 — Total Prepaid Expenses and Deposits $ 25,995 $ 1,050 |
Intangible Assets
Intangible Assets | 12 Months Ended |
Dec. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets | Note 4. Intangible Assets Intangible asset transactions are summarized as follows: Intangible asset transactions Patent Rights Patent Application Total Cost Balance, December 31, 2019 $ 30,000 $ 191,008 $ 221,008 Additions — 70,178 70,178 Balance, December 31, 2020 $ 30,000 $ 261,186 $ 291,186 Additions — 90,985 90,985 Balance, December 31, 2021 $ 30,000 $ 352,171 $ 382,171 Accumulated amortization Balance, December 31, 2019 $ 13,500 $ — $ 13,500 Amortization 3,000 — 3,000 Balance, December 31, 2020 $ 16,500 $ — $ 16,500 Amortization 3,000 — 3,000 Balance, December 31, 2021 $ 19,500 $ — $ 19,500 Net carrying amounts December 31, 2019 $ 16,500 $ 191,008 $ 207,508 December 31, 2020 $ 13,500 $ 261,186 $ 274,686 December 31, 2021 $ 10,500 $ 352,171 $ 362,671 During the year ended December 31, 2015, the Company entered into an Assignment of Patents and Patent Application (effective January 1, 2015) (the "Patent Assignment") with the Institut National des Sciences Appliquees de Rouen ("INSA") for the assignment of certain patents and all rights associated therewith (the "Patents"). The Company and INSA had previously entered into a licensing agreement for the Patents in August 2004. The Patent Assignment transfers all of the Patents and rights associated therewith to the Company upon payment to INSA in the sum of $ 30,000 (25,000 Euros) (paid). During the year ended December 31, 2021, the Company recorded $ 3,000 (2020 - $ 3,000 ) in amortization expense associated with the Patents Rights. During the year ended December 31, 2015, the Company entered into a Technology Transfer Agreement with Grant Young for the assignment of his 50% ownership of certain patents and all rights associated therewith (the "Patent Application Rights"). In exchange for the Patent Application Rights, the Company agreed to pay $ 10,000 (paid) and to issue 6,000,000 warrants (issued) to purchase shares of the Company's common stock at an exercise price of $0.10 per share for a period of five years. The Patent Application Rights had a total fair value of $35,000, which was allocated as $10,000 to the cash consideration paid, with the remaining $25,000 being allocated to the warrant component of the overall consideration. The Company incurred an additional $317,171 in direct costs relating to the Patent Application Rights, $ 90,985 of which were incurred during the year ended December 31, 2021. The remaining 50% ownership of the Patent Application Rights was acquired from the Governors of the University of Alberta in exchange for a future gross revenue royalty from any product developed as a result of research done at the University. During the year ended December 31, 2016, the Company entered into a Universal Assignment with Grant Young for the assignment of his ownership of certain new and useful improvements in an invention entitled "Use of Anti-Aging Glycoprotein for Enhancing Survival of Neurosensory Precursor Cells" (the "New Patent Application Rights"). In exchange for the New Patent Application Rights, the Company agreed to pay $1 (paid). The Company incurred $ 2,415 in direct costs relating to the New Patent Application Rights during the year ended December 31, 2016. No amortization was recorded on the Patent Application Rights or the New Patent Application Rights to December 31, 2021. |
Stock Options
Stock Options | 12 Months Ended |
Dec. 31, 2021 | |
Stock Options | |
Stock Options | Note 5. Stock Options Pursuant to an amendment on April 6, 2020, the aggregate number of shares that may be issued under the 2017 Stock Option and Stock Bonus Plan (the “2017 Plan”) is 85,700,000 shares, subject to adjustment as provided therein. The 2017 Plan is administered by the Company’s Board of Directors, or a committee appointed by the Board of Directors, and includes two types of options. Options intended to qualify as incentive stock options under Section 422 of the Internal Revenue Code of 1986, as amended, are referred to as incentive options. Options that are not intended to qualify as incentive options are referred to as non-qualified options. The exercise price of an option may be paid in cash, in shares of the Company's common stock or other property having a fair market value equal to the exercise price of the option, or in a combination of cash, shares, other securities and property. As of December 31, 2021, there are 84,690,000 options granted and outstanding under the 2017 Plan. Stock option transactions are summarized as follows: Schedule of Share-based Compensation, Stock Options, Activity Number of Weighted Average Exercise Price Weighted Average Remaining Life $ (Years) Outstanding, December 31, 2019 91,450,000 0.14 Options cancelled (36,000,000 ) 0.13 Options exercised (3,200,000 ) 0.04 Options granted 30,400,000 0.13 Outstanding, December 31, 2020 82,650,000 0.15 4.06 Number of Weighted Average Exercise Price Weighted Average Remaining Life $ (Years) Outstanding, December 31, 2020 82,650,000 0.15 Options cancelled (76,100,000 ) 0.16 Options exercised (750,000 ) 0.07 Options granted 78,890,000 0.11 Outstanding, December 31, 2021 84,690,000 0.15 4.23 During the year ended December 31, 2021, the Company granted the following stock options: 500,000 options for shares of common stock exercisable at $0.18 per share, expiring April 15, 2027. 78,390,000 options for shares of common stock exercisable at $0.11 per share, expiring Aug 3, 2028 The CFO of the Company exercised 750,000 options for shares of common stock at $ 0.07 per share through a cashless exercise of the options resulting in 555,556 shares being issued. Total share-based compensation for the 78,890,000 stock options granted (2020 - 30,400,000 ) and vested during the year ended December 31, 2021 was $ 1,413,055 (2020 - $ 6,740,743 ). The fair values of the stock options granted were estimated using the Black-Scholes Option Pricing Model, based on the following weighted average assumptions: Schedule of valuation assumptions for options December 31, 2021 December 31, 2020 Risk-free interest rate 1.76 % 2.55 % Dividend yield 0.00 % 0.00 % Expected stock price volatility 140.70 % 143.56 % Expected forfeiture rate 0.00 % 0.00 % Expected life 6.00 years 5.09 years The following non-qualified stock options were outstanding and exercisable at December 31, 2021: Schedule of options by exercise price Expiry date Exercise Price Number of Options Number of $ December 31, 2022 0.06 800,000 800,000 August 31, 2023 0.08 600,000 600,000 November 8, 2023 0.09 4,000,000 4,000,000 May 5, 2026 0.11 150,000 150,000 October 26, 2026 0.10 500,000 500,000 November 27, 2026 0.10 250,000 250,000 August 3, 2028 0.11 74,500,000 74,500,000 August 3, 2028 0.11 3,890,000 1,945,000 84,690,000 82,745,000 As at December 31, 2021, the aggregate intrinsic value of the Company's stock options is $ 2,107,500 (December 31, 2020 – $ 393,710 ). |
Warrants
Warrants | 12 Months Ended |
Dec. 31, 2021 | |
Warrants | |
Warrants | Note 6. Warrants Warrant transactions are summarized as follows: Schedule of Stockholders' Equity Note, Warrants or Rights Number of Weighted Average Exercise Price $ Outstanding, December 31, 2019 8,500,000 0.22 Warrants cancelled — — Warrants granted 1,826,857 0.07 Outstanding, December 31, 2020 10,326,857 0.19 Warrants granted 4,968,572 0.08 Warrants exercised (3,214,286 ) 0.07 Outstanding, December 31, 2021 12,081,143 0.17 The following warrants were outstanding and exercisable as at December 31, 2021: Schedule of outstanding and exercisable Number of Warrants Exercise Price Expiry Date 6,000,000 $ 0.26 July 14, 2024 833,333 0.12 October 15, 2022 250,000 0.12 October 21, 2022 116,667 0.12 November 1, 2022 83,334 0.12 November 12, 2022 216,666 0.12 December 18, 2022 110,714 0.07 March 1, 2022 142,571 0.07 March 1, 2022 359,286 0.07 March 1, 2022 100,000 0.07 March 1, 2022 442,857 0.07 March 1, 2022 571,429 0.07 March 1, 2022 100,000 0.07 March 1, 2022 500,000 0.07 March 1, 2022 100,000 0.07 March 1, 2022 357,143 0.07 March 1, 2022 357,143 0.07 March 1, 2022 1,440,000 0.10 March 1, 2022 12,081,143 On November 19, 2021, the board of directors of Protokinetix, Inc. Extended the expiration date of the warrant issued as follows: - Extended to the December offering and the August offering a total of 4,795,429 warrants to expire as of March 1, 2022 . The modifications to the warrants resulted in them meeting the definition of a derivative instrument under ASC 815 – Derivative and Hedging. They continue to be classified in equity as the number of shares and the exercise price were both fixed at inception. The extension of the term of the warrants resulted in additional value being attributed to those warrants. On November 19, 2021 the fair value of the warrants was estimated to be $ 19,227 using a Black Scholes Model. The Company recorded a deemed dividend of $ 19,227 in deficit related to the difference between the original and modified warrants. |
Stockholders' Equity
Stockholders' Equity | 12 Months Ended |
Dec. 31, 2021 | |
Equity [Abstract] | |
Stockholders' Equity | Note 7. Stockholders' Equity The Company is authorized to issue 400,000,000 (December 31, 2020 – 400,000,000 ) shares of $ 0.0000053 par value common stock. Each holder of common stock has the right to one vote but does not have cumulative voting rights. Shares of common stock are not subject to any redemption or sinking fund provisions, nor do they have any preemptive, subscription or conversion rights. Holders of common stock are entitled to receive dividends whenever funds are legally available and when declared by the board of directors, subject to the prior rights of holders of all classes of stock outstanding having priority rights as to dividends. No dividends have been declared or paid as of December 31, 2021 (December 31, 2020 - $ 0 nil). During the year ended December 2021, the Company: a) Issued 3,528,572 units (each unit consisting of one share of common stock and one warrant to purchase one share of common stock $ 0.07 ) as part of a private placement for total proceeds of $ 247,000 . b) Issued 200,000 shares of common stock at $ 0.12 as part of a private placement for total proceeds of $ 24,000 . c) Issued 1,440,000 units (each unit consisting of one share of common stock and one warrant to purchase one share of common stock $ 0.10 ) as part of a private placement for total proceeds of $ 144,000 . d) Issued 3,214,286 shares of common stock from exercised warrants (2,214,286 shares issued at $0.07 and 1,000,000 shares issued at $0.12) for total proceeds of $ 275,000 . e) Issued 555,556 shares of common stock to CFO pursuant to a cashless exercise of 750,000 stock options. f) Issued 250,000 shares of common stock at $ 0.08 as part of a private placement for total proceeds of $ 20,000 . g Issued 2,250,000 shares of common stock at $ 0.06 as part of a private placement for total proceeds of $ 135,000 . h) Extended exercise date for warrants to purchase 1,440,000 shares of common stock issued August of 2021. i) Extended exercise date for warrants to purchase 3,355,429 shares of common stock, issued December of 2020. During the year ended December 2020, the Company: a) Issued 2,222,222 shares of common stock to investors at $ 0.09 per share for gross proceeds of $ 200,000 . b) Issued 320,513 shares of common stock to investors at $ 0.078 per share for gross proceeds of $ 25,001 . c) Issued 3,653,077 shares of common stock to investors at $ 0.065 per share for gross proceeds of $ 237,450 . d) Issued 2,532,143 shares of common stock to investors (one of which was the President and CEO of the Company) at $ 0.07 per share for gross proceeds of $ 177,250 . e) Issued 1,826,857 shares of common stock to investors at $ 0.07 per share for gross proceeds of $ 127,880 and the option to exercise a warrant for one additional share at $0.07, exercisable for one year. |
Related Party Transactions and
Related Party Transactions and Balances | 12 Months Ended |
Dec. 31, 2021 | |
Related Party Transactions [Abstract] | |
Related Party Transactions and Balances | Note 8. Related Party Transactions and Balances During the twelve month period ended December 31, 2021 and 2020, the Company entered into the following related party transactions: a) Pursuant to a consulting agreement with an effective date of November 14, 2017, a total of $ 60,000 (2020 - $ 60,000 ) was paid or accrued to the Company's CFO. During the twelve months ended December 31, 2021, the Company reimbursed a company controlled by the CFO a total of $ 12,600 (2020 - $ 12,600 ) in office rent. b) On March 26, 2020, the Company cancelled and concurrently replaced 10,000,000 stock options and 1,000,000 stock options previously issued to the Company’s CEO and a Director of the Company in 2017, respectively. The 11,000,000 replacement options granted have a term of 6 years and are exercisable at a price of $ 0.14 per share, expiring on March 26, 2026 . The modification incremental fair value of $ 235,703 was recognized during the period. No stock options were issued during the three month period ending December 31, 2021. c) June 12, 2020, the Company cancelled 4,000,000 stock options previously issued in July 2019 to the Company’s CFO and replaced them with 3,500,000 stock options. The 3,500,000 replacement options granted have a term of 6 years and are exercisable at a price of $ 0.12 per share, expiring on June 11, 2026 . The modification incremental fair value of $ 5,704 was recognized in the period. d) On August 4, 2021, the Company cancelled and concurrently replaced 25,000,000 stock options previously issued to the Company’s CEO and a Director of the Company from 2018 to 2020. The modification incremental fair value of $ 311,500 was recognized in the current period. The 25,000,000 replacement options and 2,600,000 new options granted have a term of 6 years, exercisable at a price of $ 0.11 per share, expiring on August 3, 2028 . e) On August 4, 2021, the Company cancelled and concurrently replaced 7,500,000 stock options previously issued to the Company’s CFO and a Director of the Company from 2019 to 2020. The modification incremental fair value of $ 70,700 was recognized in the current period. The 7,500,000 replacement options and 260,000 new options granted have a term of 6 years, exercisable at a price of $ 0.11 per share, expiring on August 3, 2028 . f) On August 4, 2021, the Company cancelled and concurrently replaced 7,000,000 stock options previously issued to a Director of the Company from 2018 to 2020. The modification incremental fair value of $ 131,300 was recognized in the current period The 7,000,000 replacement options granted have a term of 6 years, exercisable at a price of $ 0.11 per share, expiring on August 3, 2028 . g) The Company recognized $ 722,822 including modification (2020 - $ 3,474,418 ) in share-based compensation during the period associated with stock options granted to key management personnel. The incremental fair value of modifications to stock options for key management was $ 72,322 . As at December 31, 2021 and December 31, 2020, there were $ 0 nil balances owing to related parties. |
Commitments and Contingency
Commitments and Contingency | 12 Months Ended |
Dec. 31, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingency | Note 9. Commitments and Contingency Commitments As at December 31, 2021, the Company has the following commitments: a) Entered into a consulting agreement with an effective date of January 1, 2017 whereby the Company would pay the consultant $ 7,000 per month for providing research and development services b) Entered into a consulting agreement effective January 1, 2018, whereby the Company would pay the consultant $ 1,000 per month for a term of 1 year for providing public relations services, unless otherwise terminated by either party with at least 30 days’ notice. c) Entered into a consulting agreement effective April 1, 2019, whereby the Company would pay the consultant $ 1,500 per month minimum plus travel expenses for a term of 1 year for providing research consulting services. Agreement renews annually unless otherwise terminated by either party with at least 30 days’ notice. Contingency The Company was delinquent in filing certain income tax returns with the U.S. Internal Revenue Service and reports disclosing its interest in foreign bank accounts on form TDF 90-22.1, "Report of Foreign Bank and Financial Accounts" ("FBARs"). In September 2015, the Company filed the delinquent income tax returns and has sought waivers of any penalties under the IRS Offshore Voluntary Disclosure Program for late filing of the returns and FBARs. Under the program, the IRS has indicated that it will not impose a penalty for the failure to file delinquent income tax returns if there are no under reported tax liabilities. On November 30, 2017, the Company received a letter from the IRS concluding their review of the Company's tax returns under the program and accepting the returns as filed. No penalties have been assessed by the IRS to date, and management does not believe that the Company will incur any penalties relating to the tax years submitted under the program. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Note 10. Income Taxes As a Nevada corporation, the Company is liable for taxes in the United States. As of December 31, 2021, the Company did not have any income for tax purposes and therefore, no tax liability or expense has been recorded in these financial statements (December 31, 2020 – none). A reconciliation of income taxes at statutory rates with the reported taxes is as follows: Schedule of Effective Income Tax Reconciliation 2021 2020 Net loss for the year $ (2,329,310 ) $ (7,644,490 ) Expected income tax recovery $ (490,000 ) $ (1,605,000 ) Non-deductible expenses $ 300,000 $ 1,416,000 Impact of change of future tax rate — — Adjustment to prior years provision versus statutory tax returns $ 90,000 $ 89,000 Change in valuation allowance — $ 100,000 Total income tax expense (recovery) $ — $ — The Company’s deferred tax assets that have not been recognized are as follows: Schedule of Deferred Tax Assets Tax benefit of net operating loss carry forward $ 6,300,000 $ 6,200,000 Valuation allowance $ (6,300,000 ) $ (6,200,000 ) $ — $ — The Company has tax losses of approximately $ 30,000,000 (December 31, 2020 - $ 29,000,000 ) to reduce future taxable income. The tax losses expire in years starting from 2021. The deferred tax asset associated with the tax loss carry forward is approximately $ 6,300,000 (December 31, 2020 - $ 6,200,000 ). The Company has provided a full valuation allowance against the deferred tax asset since it is more likely than not that the asset will not be realized. The difference between the Company's statutory income tax rate of ( 21 %) and its effective rate of zero is primarily attributable to the valuation allowance provided on deferred taxes arising from net operating loss carry forwards. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2021 | |
Subsequent Events [Abstract] | |
Subsequent Events | Note 11. Subsequent Events Subsequent to the year ended December 31, 2021, the Company: a) Between January 1, 2022 and February 8, 2022 the Company issued 2,136,666 shares of common stock to investors at $ 0.06 per share for gross proceeds of $ 128,200 . A Form D/A was filed on February 25, 2022. b) On February 11, 2022 the Company approved amending and restating of the Company’s articles of incorporation to increase the number of authorized shares from 400,000,000 to 500,000,000 of common stock. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying financial statements have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America ("US GAAP") and are expressed in United States dollars. |
Use of Estimates | Use of Estimates Preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The more significant accounting estimates inherent in the preparation of the Company's financial statements include estimates as to valuation of equity- related instruments issued, deferred income taxes and the useful life and impairment of intangible assets. |
Cash | Cash Cash consists of funds held in checking accounts. Cash balances may exceed federally insured limits from time to time. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments Financial instruments, which includes cash, accounts payable and accrued liabilities are carried at amortized cost, which management believes approximates fair value due to the short-term nature of these instruments. The Company measures the fair value of financial assets and liabilities pursuant to ASC 820 "Fair Value Measurements and Disclosures" which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. ASC 820 establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The policy describes three levels of inputs that may be used to measure fair value: Level 1 – quoted prices in active markets for identical assets or liabilities. Level 2 – quoted prices for similar assets and liabilities in active markets or inputs that are observable. Level 3 – inputs that are unobservable (for example cash flow modeling inputs based on assumptions). At December 31, 2021, there were no other assets or liabilities subject to additional disclosure. |
Income Taxes | Income Taxes The Company accounts for income taxes following the assets and liability method in accordance with the ASC 740 "Income Taxes." Under such method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. The Company applies the accounting guidance issued to address the accounting for uncertain tax positions. This guidance clarifies the accounting for income taxes, by prescribing a minimum recognition threshold a tax position is required to meet before being recognized in the financial statements as well as provides guidance on derecognition, measurement, classification, interest and penalties, accounting in interim periods, disclosure and transition Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years that the asset is expected to be recovered or the liability settled. |
Intangible assets – patent and patent application costs | Intangible assets – patent and patent application costs The Company owns intangible assets consisting of certain patents and patent applications. Intangible assets acquired separately are measured on initial recognition at cost. Following initial recognition, intangible assets are carried at cost less any accumulated amortization and any accumulated impairment losses. Subsequent expenditures are capitalized only when they increase the future economic benefits embodied in the specific asset to which they relate. All other expenditures are recognized in profit or loss as incurred. As at December 31, 2021, the Company does not hold any intangible assets with indefinite lives. Intangible assets with finite lives are amortized over the useful economic life and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortization method and amortization period of an intangible asset with a finite life is reviewed at least annually. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset is accounted for by changing the amortization period or method, as appropriate, and are treated as changes in accounting estimates. Amortization is recognized in profit or loss on a straight-line basis over the estimated useful lives of the Company's patents, whereas no amortization has been recognized on the patent application costs at December 31, 2021. |
Research and Development Costs | Research and Development Costs Research and development costs are expensed as incurred. |
Loss per Share and Potentially Dilutive Securities | Loss per Share and Potentially Dilutive Securities Basic loss per share is computed by dividing the net loss available to common stockholders by the weighted average number of common shares outstanding in the period. Diluted loss per share takes into consideration common shares outstanding (computed under basic earnings per share) and potentially dilutive securities. The effect of 84,690,000 stock options (December 31, 2020 – 82,650,000 ) and 12,081,143 warrants (December 31, 2020 – 10,326,857 ) were not included in the computation of diluted earnings per share for all periods presented because it was anti-dilutive due to the Company's losses. |
Share-Based Compensation | Share-Based Compensation The Company has granted warrants and options to purchase shares of the Company's common stock to various parties for consulting services. The fair values of the warrants and options issued have been estimated using the Black-Scholes Option Pricing Model. The Company accounts for stock compensation with persons classified as employees for accounting purposes in accordance with ASC 718 "Compensation – Stock Compensation", which recognizes awards at fair value on the date of grant and recognition of compensation over the service period for awards expected to vest. Cliff Vesting is used and awards vest on the last day of the vesting period. The fair value of stock options is determined using the Black-Scholes Option Pricing Model. The fair value of common shares issued for services is determined based on the Company's stock price on the date of issuance. Share-based compensation for non-employees in exchange for goods and services used or consumed in an entity’s own operations are also recorded at fair value on the measurement date and accounted for in accordance with ASC 718. The measurement of share-based compensation is subject to periodic adjustment as the underlying instruments vest. The fair value of stock options is estimated using the Black-Scholes Option Pricing Model and the compensation charges are amortized over the vesting period. |
Common stock | Common stock Common stock issued for non-monetary consideration are recorded at their fair value on the measurement date and classified as equity. The measurement date is defined as the earliest of the date at which the commitment for performance by the counterparty to earn the common shares is reached or the date at which the counterparty's performance is complete. Transaction costs directly attributable to the issuance of common stock, units and stock options are recognized as a deduction from equity, net of any tax effects. |
Related Party Transactions | Related Party Transactions A related party is generally defined as (i) any person that holds 10% or more of the Company's securities and their immediate families, (ii) the Company's management, (iii) someone that directly or indirectly controls, is controlled by or is under common control with the Company, or (iv) anyone who can significantly influence the financial and operating decisions of the Company. A transaction is considered to be a related party transaction when there is a transfer of resources or obligations between related parties. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which simplifies the accounting for income taxes by removing certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The new ASU also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates. These changes aim to improve the overall usefulness of disclosures to financial statement users and reduce unnecessary costs to companies when preparing the disclosures. The guidance was effective for the Company beginning on January 1, 2021 and prescribes different transition methods for the various provisions. The adoption of ASU 2019-12 did not have a material impact on the Company’s financial statements and related disclosures. Other than the above, the Company has determined that other significant newly issued accounting pronouncements are either not applicable to the Company’s business or that no material effect is expected on the financial statements as a result of future adoption. |
Prepaid Expenses and Deposits (
Prepaid Expenses and Deposits (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Schedule of prepaid expenses | Schedule of prepaid expenses 2021 2020 Rental deposit $ 1,050 $ 1,050 Deposit on February 11, 2022 shareholder meeting 24,945 — Total Prepaid Expenses and Deposits $ 25,995 $ 1,050 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible asset transactions | Intangible asset transactions Patent Rights Patent Application Total Cost Balance, December 31, 2019 $ 30,000 $ 191,008 $ 221,008 Additions — 70,178 70,178 Balance, December 31, 2020 $ 30,000 $ 261,186 $ 291,186 Additions — 90,985 90,985 Balance, December 31, 2021 $ 30,000 $ 352,171 $ 382,171 Accumulated amortization Balance, December 31, 2019 $ 13,500 $ — $ 13,500 Amortization 3,000 — 3,000 Balance, December 31, 2020 $ 16,500 $ — $ 16,500 Amortization 3,000 — 3,000 Balance, December 31, 2021 $ 19,500 $ — $ 19,500 Net carrying amounts December 31, 2019 $ 16,500 $ 191,008 $ 207,508 December 31, 2020 $ 13,500 $ 261,186 $ 274,686 December 31, 2021 $ 10,500 $ 352,171 $ 362,671 |
Stock Options (Tables)
Stock Options (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Stock Options | |
Schedule of Share-based Compensation, Stock Options, Activity | Schedule of Share-based Compensation, Stock Options, Activity Number of Weighted Average Exercise Price Weighted Average Remaining Life $ (Years) Outstanding, December 31, 2019 91,450,000 0.14 Options cancelled (36,000,000 ) 0.13 Options exercised (3,200,000 ) 0.04 Options granted 30,400,000 0.13 Outstanding, December 31, 2020 82,650,000 0.15 4.06 Number of Weighted Average Exercise Price Weighted Average Remaining Life $ (Years) Outstanding, December 31, 2020 82,650,000 0.15 Options cancelled (76,100,000 ) 0.16 Options exercised (750,000 ) 0.07 Options granted 78,890,000 0.11 Outstanding, December 31, 2021 84,690,000 0.15 4.23 |
Schedule of valuation assumptions for options | Schedule of valuation assumptions for options December 31, 2021 December 31, 2020 Risk-free interest rate 1.76 % 2.55 % Dividend yield 0.00 % 0.00 % Expected stock price volatility 140.70 % 143.56 % Expected forfeiture rate 0.00 % 0.00 % Expected life 6.00 years 5.09 years |
Schedule of options by exercise price | Schedule of options by exercise price Expiry date Exercise Price Number of Options Number of $ December 31, 2022 0.06 800,000 800,000 August 31, 2023 0.08 600,000 600,000 November 8, 2023 0.09 4,000,000 4,000,000 May 5, 2026 0.11 150,000 150,000 October 26, 2026 0.10 500,000 500,000 November 27, 2026 0.10 250,000 250,000 August 3, 2028 0.11 74,500,000 74,500,000 August 3, 2028 0.11 3,890,000 1,945,000 84,690,000 82,745,000 |
Warrants (Tables)
Warrants (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Warrants | |
Schedule of Stockholders' Equity Note, Warrants or Rights | Schedule of Stockholders' Equity Note, Warrants or Rights Number of Weighted Average Exercise Price $ Outstanding, December 31, 2019 8,500,000 0.22 Warrants cancelled — — Warrants granted 1,826,857 0.07 Outstanding, December 31, 2020 10,326,857 0.19 Warrants granted 4,968,572 0.08 Warrants exercised (3,214,286 ) 0.07 Outstanding, December 31, 2021 12,081,143 0.17 |
Schedule of outstanding and exercisable | Schedule of outstanding and exercisable Number of Warrants Exercise Price Expiry Date 6,000,000 $ 0.26 July 14, 2024 833,333 0.12 October 15, 2022 250,000 0.12 October 21, 2022 116,667 0.12 November 1, 2022 83,334 0.12 November 12, 2022 216,666 0.12 December 18, 2022 110,714 0.07 March 1, 2022 142,571 0.07 March 1, 2022 359,286 0.07 March 1, 2022 100,000 0.07 March 1, 2022 442,857 0.07 March 1, 2022 571,429 0.07 March 1, 2022 100,000 0.07 March 1, 2022 500,000 0.07 March 1, 2022 100,000 0.07 March 1, 2022 357,143 0.07 March 1, 2022 357,143 0.07 March 1, 2022 1,440,000 0.10 March 1, 2022 12,081,143 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Schedule of Effective Income Tax Reconciliation | Schedule of Effective Income Tax Reconciliation 2021 2020 Net loss for the year $ (2,329,310 ) $ (7,644,490 ) Expected income tax recovery $ (490,000 ) $ (1,605,000 ) Non-deductible expenses $ 300,000 $ 1,416,000 Impact of change of future tax rate — — Adjustment to prior years provision versus statutory tax returns $ 90,000 $ 89,000 Change in valuation allowance — $ 100,000 Total income tax expense (recovery) $ — $ — |
Schedule of Deferred Tax Assets | The Company’s deferred tax assets that have not been recognized are as follows: Schedule of Deferred Tax Assets Tax benefit of net operating loss carry forward $ 6,300,000 $ 6,200,000 Valuation allowance $ (6,300,000 ) $ (6,200,000 ) $ — $ — |
Basis of Presentation _ Going_2
Basis of Presentation – Going Concern Uncertainties (Details Narrative) - USD ($) | 1 Months Ended | 12 Months Ended |
Nov. 19, 2021 | Dec. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Cash consideration | $ 30,000 | |
Additional patent applications | $ 10,000 | |
Warrant issued | 6,000,000 | |
Fair Value Adjustment of Warrants | $ 19,227 | $ 25,000 |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Details Narrative) - shares | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Warrant [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 12,081,143 | 10,326,857 |
Equity Option [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 84,690,000 | 82,650,000 |
Prepaid Expenses (Details)
Prepaid Expenses (Details) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ||
Rental deposit | $ 1,050 | $ 1,050 |
Deposit on February 11, 2022 shareholder meeting | 24,945 | 0 |
Total Prepaid Expenses and Deposits | $ 25,995 | $ 1,050 |
Intangible Assets (Details)
Intangible Assets (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Finite-Lived Intangible Assets [Line Items] | |||
Beginning balance | $ 291,186 | $ 221,008 | |
Additions | 90,985 | 70,178 | |
Ending balance | 382,171 | 291,186 | |
Beginning balance | 16,500 | 13,500 | |
Amortization | 3,000 | 3,000 | |
Ending balance | 19,500 | 16,500 | |
Net carrying amounts | 362,671 | 274,686 | $ 207,508 |
Patents [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Beginning balance | 30,000 | 30,000 | |
Additions | 0 | 0 | |
Ending balance | 30,000 | 30,000 | |
Beginning balance | 16,500 | 13,500 | |
Amortization | 3,000 | 3,000 | |
Ending balance | 19,500 | 16,500 | |
Net carrying amounts | 10,500 | 13,500 | 16,500 |
Patent Application Rights [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Beginning balance | 261,186 | 191,008 | |
Additions | 90,985 | 70,178 | |
Ending balance | 352,171 | 261,186 | |
Beginning balance | 0 | 0 | |
Amortization | 0 | 0 | |
Ending balance | 0 | 0 | |
Net carrying amounts | $ 352,171 | $ 261,186 | $ 191,008 |
Intangible Assets (Details Narr
Intangible Assets (Details Narrative) - USD ($) | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2016 | Dec. 31, 2015 | |
Finite-Lived Intangible Assets [Line Items] | ||||
Payments to Acquire Intangible Assets | $ 90,985 | $ 70,178 | ||
Amortization of Intangible Assets | 3,000 | $ 3,000 | ||
Additional patent applications | $ 10,000 | |||
Warrant issued | 6,000,000 | |||
Grant Young [Member] | Technology Transfer Agreement [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Additional patent applications | $ 10,000 | |||
Warrant issued | 6,000,000 | |||
Patent Application Rights [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Payments to Acquire Intangible Assets | $ 30,000 | |||
Direct Operating Costs | $ 90,985 | $ 2,415 |
Stock Options (Details)
Stock Options (Details) - Equity Option [Member] - $ / shares | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Outstanding, beginning | 82,650,000 | 91,450,000 |
Weighted average exercise price beginning balance | $ 0.15 | $ 0.14 |
Options cancelled | (76,100,000) | (36,000,000) |
Weighted Average Exercise Price, cancelled | $ 0.16 | $ 0.13 |
Option exercised | (750,000) | (3,200,000) |
Weighted Average Exercise Price, exercised | $ 0.07 | $ 0.04 |
Options granted | 78,890,000 | 30,400,000 |
Weighted Average Exercise Price, granted | $ 0.11 | $ 0.13 |
Outstanding, ending | 84,690,000 | 82,650,000 |
Weighed average exercise price ending balance | $ 0.15 | $ 0.15 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 4 years 2 months 23 days | 4 years 21 days |
Stock Options (Details 1)
Stock Options (Details 1) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Stock Options | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 1.76% | 2.55% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | 0.00% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 140.70% | 143.56% |
Expected forfeiture rate | 0.00% | 0.00% |
Expected life | 6 years | 5 years 1 month 2 days |
Stock Options (Details 2)
Stock Options (Details 2) | 12 Months Ended |
Dec. 31, 2021$ / sharesshares | |
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |
Number of outstanding | 84,690,000 |
Number of options exercisable | 82,745,000 |
Stock Option 1 [Member] | |
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Date | Dec. 31, 2022 |
Weighed average exercise price | $ / shares | $ 0.06 |
Number of outstanding | 800,000 |
Number of options exercisable | 800,000 |
Stock Option 2 [Member] | |
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Date | Aug. 31, 2023 |
Weighed average exercise price | $ / shares | $ 0.08 |
Number of outstanding | 600,000 |
Number of options exercisable | 600,000 |
Stock Option 3 [Member] | |
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Date | Nov. 8, 2023 |
Weighed average exercise price | $ / shares | $ 0.09 |
Number of outstanding | 4,000,000 |
Number of options exercisable | 4,000,000 |
Stock Option 4 [Member] | |
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Date | May 5, 2026 |
Weighed average exercise price | $ / shares | $ 0.11 |
Number of outstanding | 150,000 |
Number of options exercisable | 150,000 |
Stock Option 5 [Member] | |
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Date | Oct. 26, 2026 |
Weighed average exercise price | $ / shares | $ 0.10 |
Number of outstanding | 500,000 |
Number of options exercisable | 500,000 |
Stock Option 6 [Member] | |
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Date | Nov. 27, 2026 |
Weighed average exercise price | $ / shares | $ 0.10 |
Number of outstanding | 250,000 |
Number of options exercisable | 250,000 |
Stock Option 7 [Member] | |
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Date | Aug. 3, 2028 |
Weighed average exercise price | $ / shares | $ 0.11 |
Number of outstanding | 74,500,000 |
Number of options exercisable | 74,500,000 |
Stock Option 8 [Member] | |
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Date | Aug. 3, 2028 |
Weighed average exercise price | $ / shares | $ 0.11 |
Number of outstanding | 3,890,000 |
Number of options exercisable | 1,945,000 |
Stock Options (Details Narrativ
Stock Options (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 82,745,000 | |
Share-based Payment Arrangement, Expense | $ 78,890,000 | $ 30,400,000 |
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture | 1,413,055 | 6,740,743 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | $ 2,107,500 | 393,710 |
Common Stock [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Issuance of common stock pursuant to cashless option exercise, Shares | 555,556 | |
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture | ||
Equity Option [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Options granted | 84,690,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 500,000 | |
Option exercised | 750,000 | 3,200,000 |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ 0.07 | $ 0.04 |
Stock Option 1 [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 78,390,000 |
Warrants (Details)
Warrants (Details) - Warrant [Member] - $ / shares | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Warrant outstanding, beginning | 10,326,857 | 8,500,000 |
Warrant weighted average exercise price, beginning | $ 0.19 | $ 0.22 |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Forfeitures and Expirations | 0 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $ 0 | |
Warrant granted | 4,968,572 | 1,826,857 |
Warrant weighted average exercise price, granted | $ 0.08 | $ 0.07 |
Warrant exercised | (3,214,286) | |
Warrant weighted average exercise price, exercised | $ 0.07 | |
Warrant outstanding, ending | 12,081,143 | 10,326,857 |
Warrant weighted average exercise price, ending | $ 0.17 | $ 0.19 |
Warrants (Details 1)
Warrants (Details 1) | 12 Months Ended |
Dec. 31, 2021$ / sharesshares | |
Warrant 1 [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Class of Warrant or Right, Outstanding | shares | 6,000,000 |
Warrant weighted average exercise price | $ / shares | $ 0.26 |
Expiry Date | July 14, 2024 |
Warrant 2 [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Class of Warrant or Right, Outstanding | shares | 833,333 |
Warrant weighted average exercise price | $ / shares | $ 0.12 |
Expiry Date | October 15, 2022 |
Warrant 3 [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Class of Warrant or Right, Outstanding | shares | 250,000 |
Warrant weighted average exercise price | $ / shares | $ 0.12 |
Expiry Date | October 21, 2022 |
Warrant 4 [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Class of Warrant or Right, Outstanding | shares | 116,667 |
Warrant weighted average exercise price | $ / shares | $ 0.12 |
Expiry Date | November 1, 2022 |
Warrant 5 [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Class of Warrant or Right, Outstanding | shares | 83,334 |
Warrant weighted average exercise price | $ / shares | $ 0.12 |
Expiry Date | November 12, 2022 |
Warrant 6 [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Class of Warrant or Right, Outstanding | shares | 216,666 |
Warrant weighted average exercise price | $ / shares | $ 0.12 |
Expiry Date | December 18, 2022 |
Warrant 7 [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Class of Warrant or Right, Outstanding | shares | 110,714 |
Warrant weighted average exercise price | $ / shares | $ 0.07 |
Expiry Date | March 1, 2022 |
Warrant 8 [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Class of Warrant or Right, Outstanding | shares | 142,571 |
Warrant weighted average exercise price | $ / shares | $ 0.07 |
Expiry Date | March 1, 2022 |
Warrant 9 [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Class of Warrant or Right, Outstanding | shares | 359,286 |
Warrant weighted average exercise price | $ / shares | $ 0.07 |
Expiry Date | March 1, 2022 |
Warrant 10 [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Class of Warrant or Right, Outstanding | shares | 100,000 |
Warrant weighted average exercise price | $ / shares | $ 0.07 |
Expiry Date | March 1, 2022 |
Warrant 11 [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Class of Warrant or Right, Outstanding | shares | 442,857 |
Warrant weighted average exercise price | $ / shares | $ 0.07 |
Expiry Date | March 1, 2022 |
Warrant 12 [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Class of Warrant or Right, Outstanding | shares | 571,429 |
Warrant weighted average exercise price | $ / shares | $ 0.07 |
Expiry Date | March 1, 2022 |
Warrant 13 [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Class of Warrant or Right, Outstanding | shares | 100,000 |
Warrant weighted average exercise price | $ / shares | $ 0.07 |
Expiry Date | March 1, 2022 |
Warrant 14 [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Class of Warrant or Right, Outstanding | shares | 500,000 |
Warrant weighted average exercise price | $ / shares | $ 0.07 |
Expiry Date | March 1, 2022 |
Warrant 15 [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Class of Warrant or Right, Outstanding | shares | 100,000 |
Warrant weighted average exercise price | $ / shares | $ 0.07 |
Expiry Date | March 1, 2022 |
Warrant 16 [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Class of Warrant or Right, Outstanding | shares | 357,143 |
Warrant weighted average exercise price | $ / shares | $ 0.07 |
Expiry Date | March 1, 2022 |
Warrant 17 [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Class of Warrant or Right, Outstanding | shares | 357,143 |
Warrant weighted average exercise price | $ / shares | $ 0.07 |
Expiry Date | March 1, 2022 |
Warrant 18 [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Class of Warrant or Right, Outstanding | shares | 1,440,000 |
Warrant weighted average exercise price | $ / shares | $ 0.10 |
Expiry Date | March 1, 2022 |
Warrants (Details Narrative)
Warrants (Details Narrative) - USD ($) | 1 Months Ended | 12 Months Ended | |
Nov. 19, 2021 | Dec. 31, 2021 | Dec. 31, 2015 | |
Short-term Debt [Line Items] | |||
Payments for Repurchase of Warrants | $ 4,795,429 | ||
Expire date | Mar. 1, 2022 | ||
Fair Value Adjustment of Warrants | $ 19,227 | $ 25,000 | |
Black Scholes Model [Member] | |||
Short-term Debt [Line Items] | |||
Fair Value Adjustment of Warrants | $ 19,227 |
Stockholders' Equity (Details N
Stockholders' Equity (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Shares authorized | 400,000,000 | 400,000,000 |
Common Stock, Par or Stated Value Per Share | $ 0.0000053 | $ 0.0000053 |
Dividends Receivable | $ 0 | $ 0 |
Stock Issued During Period, Shares, New Issues | 555,556 | |
Warrants to purchase | 1,440,000 | 3,355,429 |
Warrant [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Warrants exercised | 3,214,286 | |
Proceeds from Warrant Exercises | $ 275,000 | |
Equity Option [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Option exercised | 750,000 | 3,200,000 |
Investors | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Stock Issued During Period, Shares, New Issues | 3,528,572 | |
Share Price | $ 0.07 | |
Stock Issued During Period, Value, New Issues | $ 247,000 | |
Investors One [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Stock Issued During Period, Shares, New Issues | 200,000 | |
Share Price | $ 0.12 | |
Stock Issued During Period, Value, New Issues | $ 24,000 | |
Investors Two [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Stock Issued During Period, Shares, New Issues | 1,440,000 | |
Share Price | $ 0.10 | |
Stock Issued During Period, Value, New Issues | $ 144,000 | |
Investors Three [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Stock Issued During Period, Shares, New Issues | 250,000 | |
Share Price | $ 0.08 | |
Stock Issued During Period, Value, New Issues | $ 20,000 | |
Investors Four [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Stock Issued During Period, Shares, New Issues | 2,250,000 | |
Share Price | $ 0.06 | |
Stock Issued During Period, Value, New Issues | $ 135,000 | |
Investors Five [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Stock Issued During Period, Shares, New Issues | 2,222,222 | |
Share Price | $ 0.09 | |
Stock Issued During Period, Value, New Issues | $ 200,000 | |
Investors Six [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Stock Issued During Period, Shares, New Issues | 320,513 | |
Share Price | $ 0.078 | |
Stock Issued During Period, Value, New Issues | $ 25,001 | |
Investors Seven [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Stock Issued During Period, Shares, New Issues | 3,653,077 | |
Share Price | $ 0.065 | |
Stock Issued During Period, Value, New Issues | $ 237,450 | |
Investors Eight [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Stock Issued During Period, Shares, New Issues | 2,532,143 | |
Share Price | $ 0.07 | |
Stock Issued During Period, Value, New Issues | $ 177,250 | |
Investors Ten [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Stock Issued During Period, Shares, New Issues | 1,826,857 | |
Share Price | $ 0.07 | |
Stock Issued During Period, Value, New Issues | $ 127,880 |
Related Party Transactions an_2
Related Party Transactions and Balances (Details Narrative) - USD ($) | Aug. 04, 2021 | Jun. 12, 2021 | Jun. 12, 2020 | Mar. 26, 2020 | Dec. 31, 2021 | Aug. 04, 2021 | Dec. 31, 2020 |
Related Party Transaction [Line Items] | |||||||
Related Party Transaction, Amounts of Transaction | $ 60,000 | $ 60,000 | |||||
Options granted | 3,500,000 | 11,000,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 6 years | 6 years | 6 years | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $ 0.11 | $ 0.12 | $ 0.14 | $ 0.11 | |||
Options Expiration Date | Aug. 3, 2028 | Jun. 11, 2026 | Mar. 26, 2026 | ||||
Modification incremental fair value option | $ 5,704 | $ 235,703 | $ 311,500 | ||||
Replacement options | 25,000,000 | ||||||
Share-based Payment Arrangement, Expense, after Tax | $ 722,822 | 3,474,418 | |||||
Due to Related Parties, Current | 0 | ||||||
Chief Financial Officer [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Increase (Decrease) in Due from Officers and Stockholders, Current | $ 12,600 | $ 12,600 | |||||
Chief Executiveand Director Officer [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Forfeitures and Expirations | 4,000,000 | 10,000,000 | |||||
Stock option issued | 3,500,000 | 1,000,000 | |||||
stock options replaced | 25,000,000 | ||||||
Stock option granted | 2,600,000 | ||||||
C F O [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Forfeitures and Expirations | 7,500,000 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $ 0.11 | $ 0.11 | |||||
Options Expiration Date | Aug. 3, 2028 | ||||||
Modification incremental fair value option | $ 70,700 | ||||||
Stock option granted | 260,000 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted | 7,500,000 | ||||||
Director [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Forfeitures and Expirations | 7,000,000 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $ 0.11 | $ 0.11 | |||||
Options Expiration Date | Aug. 3, 2028 | ||||||
Modification incremental fair value option | $ 131,300 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted | 7,000,000 | ||||||
Key Management [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Modification incremental fair value option | $ 72,322 |
Commitments and Contingency (De
Commitments and Contingency (Details Narrative) - USD ($) | Apr. 02, 2019 | Jan. 02, 2018 | Jan. 02, 2017 | Dec. 31, 2021 | Dec. 31, 2020 |
Defined Benefit Plan Disclosure [Line Items] | |||||
Research and Development Expense | $ 435,872 | $ 527,291 | |||
Consultant [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Research and Development Expense | $ 7,000 | ||||
Marketing Expense | $ 1,000 | ||||
Travel and Entertainment Expense | $ 1,500 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | ||
Net loss for the year | $ (2,329,310) | $ (7,644,490) |
Expected income tax recovery | (490,000) | (1,605,000) |
Non-deductible expenses | 300,000 | 1,416,000 |
Impact of change of future tax rate | 0 | 0 |
Adjustment to prior years provision versus statutory tax returns | 90,000 | 89,000 |
Change in valuation allowance | 0 | 100,000 |
Total income tax expense (recovery) | $ 0 | $ 0 |
Income Taxes (Details 1)
Income Taxes (Details 1) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Income Tax Disclosure [Abstract] | ||
Deferred Tax Assets, Gross | $ 6,300,000 | $ 6,200,000 |
Deferred Tax Assets, Valuation Allowance | (6,300,000) | (6,200,000) |
Deferred Tax Assets, Net of Valuation Allowance | $ 0 | $ 0 |
Income Taxes (Details Narrative
Income Taxes (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | ||
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Impairment Losses, Amount | $ 30,000,000 | $ 29,000,000 |
Deferred Tax Assets, Capital Loss Carryforwards | $ 6,300,000 | $ 6,200,000 |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% |
Subsequent Events (Details Narr
Subsequent Events (Details Narrative) - USD ($) | 1 Months Ended | 12 Months Ended | |
Feb. 08, 2022 | Dec. 31, 2021 | Feb. 11, 2022 | |
Subsequent Event [Line Items] | |||
Stock Issued During Period, Shares, New Issues | 555,556 | ||
Investors | |||
Subsequent Event [Line Items] | |||
Stock Issued During Period, Shares, New Issues | 3,528,572 | ||
Share Price | $ 0.07 | ||
Stock Issued During Period, Value, New Issues | $ 247,000 | ||
Subsequent Event [Member] | Minimum [Member] | |||
Subsequent Event [Line Items] | |||
Common stock, shares authorized | 400,000,000 | ||
Subsequent Event [Member] | Maximum [Member] | |||
Subsequent Event [Line Items] | |||
Common stock, shares authorized | 500,000,000 | ||
Subsequent Event [Member] | Investors | |||
Subsequent Event [Line Items] | |||
Stock Issued During Period, Shares, New Issues | 2,136,666 | ||
Share Price | $ 0.06 | ||
Stock Issued During Period, Value, New Issues | $ 128,200 |