Meta Materials (MMATQ) 10-Q 10 May 22 2022 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2022	May 09, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Entity Registrant Name	Meta Materials Inc.
Entity Central Index Key	0001431959
Entity File Number	001-36247
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Document Quarterly Report	true
Document Transition Report	false
Entity Tax Identification Number	74-3237581
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	1 Research Drive
Entity Address, City or Town	Dartmouth
Entity Address, State or Province	NS
Entity Address, Postal Zip Code	B2Y 4M9
City Area Code	902
Local Phone Number	482-5729
Entity Common Stock, Shares Outstanding		296,614,994
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	MMAT
Security Exchange Name	NASDAQ

Condensed Consolidated Interim

Condensed Consolidated Interim Balance Sheets - USD ($)		Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents		$ 29,749,773	$ 46,645,704
Restricted Cash		478,897	788,768
Short-term investments			2,875,638
Grants receivable		29,150	175,780
Accounts receivable		2,514,443	1,665,700
Inventory		366,959	265,718
Prepaid expenses and other current assets		3,843,663	3,451,367
Assets held for sale		72,000,000	75,500,000
Due from related parties		10,314	10,657
Total current assets		108,993,199	131,379,332
Intangible assets, net		28,306,272	28,971,824
Property, plant and equipment, net		29,977,784	27,018,114
Operating lease right-of-use assets		6,230,735	6,278,547
Goodwill		240,769,981	240,376,634
Total assets		414,277,971	434,024,451
Current liabilities
Trade and other payables		9,944,822	13,335,470
Current portion of long-term debt		363,654	491,278
Current portion of deferred revenues		695,160	779,732
Current portion of deferred government assistance		858,942	846,612
Preferred stock liability		72,000,000	75,500,000
Current portion of operating lease liabilities		782,901	663,861
Asset retirement obligations		21,937	21,937
Total current liabilities		84,667,416	91,638,890
Deferred revenues		660,297	637,008
Deferred government assistance			3,038
Deferred tax liability		329,205	324,479
Long-term operating lease liabilities		3,676,258	3,706,774
Funding obligation		286,182	268,976
Long-term debt		2,920,931	2,737,171
Total liabilities		92,540,289	99,316,336
Stockholders' equity
Common stock - $0.001 par value; 1,000,000,000 shares authorized, 286,927,265 shares issued and outstanding at March 31, 2022, and $0.001 par value; unlimited shares authorized, 284,573,316 shares issued and outstanding at December 31, 2021		265,106	262,751
Additional paid-in capital		467,692,775	463,136,404
Accumulated other comprehensive income (loss)		608,446	(296,936)
Accumulated deficit		(146,828,645)	(128,394,104)
Total stockholders' equity	[1]	321,737,682	334,708,115
Total liabilities and stockholders' equity		$ 414,277,971	$ 434,024,451
[1]	Retroactively restated from the earliest period presented for the Torchlight RTO (“Reverse acquisition”) as described in Note 3

Condensed Consolidated Interi_2

Condensed Consolidated Interim Balance Sheets (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2021	Mar. 31, 2022
Statement of Financial Position [Abstract]
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized		1,000,000,000
Common Stock, Shares Authorized	Unlimited
Common Stock, Shares, Issued	284,573,316	286,927,265
Common Stock, Shares, Outstanding	284,573,316	286,927,265

Condensed Consolidated Interi_3

Condensed Consolidated Interim Statements of Operations And Comprehensive Loss - USD ($)		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Revenue:
Total Revenue		$ 2,974,695	$ 596,303
Cost of goods sold		778,712	400
Gross Profit		2,195,983	595,903
Operating Expenses:
Selling & Marketing		1,035,986	396,594
General & Administrative		14,597,913	2,592,885
Research & Development		3,971,139	1,779,256
Total operating expenses		19,605,038	4,768,735
Loss from operations		(17,409,055)	(4,172,832)
Interest expense, net		(164,434)	(450,908)
Gain (Loss) on foreign exchange, net		148,391	(166,444)
Loss on financial instruments, net			(40,004,921)
Other (loss) income, net		(1,009,443)	591,907
Total other expense, net		(1,025,486)	(40,030,366)
Loss before income taxes		(18,434,541)	(44,203,198)
Income tax recovery			44,679
Net loss	[1]	(18,434,541)	(44,158,519)
Other Comprehensive Income net of tax
Foreign currency translation gain		905,382	21,128
Fair value gain on changes of own credit risk			671,600
Total Other Comprehensive Income	[1]	905,382	692,728
Comprehensive loss		$ (17,529,159)	$ (43,465,791)
Basic and diluted loss per share	[2]	$ (0.06)	$ (0.26)
Weighted average number of shares outstanding - basic and diluted	[2]	285,224,469	168,864,762
Product sales [Member]
Revenue:
Total Revenue		$ 168,127	$ 22,047
Development revenue [Member]
Revenue:
Total Revenue		$ 2,806,568	$ 574,256
[1]	Retroactively restated from the earliest period presented for the Torchlight RTO (“Reverse acquisition”) as described in Note 3
[2]	Retroactively restated for the three months ended March 31, 2021 for the Torchlight RTO (“Reverse Acquisition”) as described in Note 3

Condensed Consolidated Interi_4

Condensed Consolidated Interim Statements of Changes in Stockholders' Equity - USD ($)		Total	Common Stock [Member]		Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (loss) [Member]	Accumulated Deficit [Member]
Beginning balance at Dec. 31, 2020	[1]	$ (8,897,403)	$ 132,347		$ 29,022,977	$ (655,884)	$ (37,396,843)
Beginning balance, shares at Dec. 31, 2020	[1]		154,163,975
Net loss	[1]	(44,158,519)					(44,158,519)
Other comprehensive income	[1]	692,728				692,728
Conversion of promissory notes	[1]	23,656,365	$ 20,391		23,635,974
Conversion of promissory notes, Shares	[1]		20,391,239
Conversion of secured debentures	[1]	22,118,782	$ 14,156		22,104,626
Conversion of secured debentures, Shares	[1]		14,155,831
Conversion of unsecured debentures	[1]	5,769,475	$ 5,105		5,764,370
Conversion of unsecured debentures, Shares	[1]		5,105,338
Conversion of long-term debt	[1]	221,843	$ 125		221,718
Conversion of long-term debt, Shares	[1]		124,716
Conversion of payable to related party	[1]	225,986	$ 151		225,835
Conversion of payable to related party, Shares	[1]		150,522
Exercise of stock options	[1]	48,629	$ 179		48,450
Exercise of stock options, Shares	[1]		178,720
Exercise of warrants	[1]	31,584	$ 82		31,502
Exercise of warrants, Shares	[1]		82,097
Exercise of broker warrants	[1]	16,255	$ 61		16,194
Exercise of broker warrants, Shares	[1]		61,331
Stock-based compensation	[1]	497,775	$ 286		497,489
Stock-based compensation, Shares	[1]		286,292
Ending balance at Mar. 31, 2021	[1]	223,500	$ 172,883		81,569,135	36,844	(81,555,362)
Ending balance, shares at Mar. 31, 2021	[1]		194,700,061
Beginning balance at Dec. 31, 2021	[1]	334,708,115	$ 262,751		463,136,404	(296,936)	(128,394,104)
Beginning balance, shares at Dec. 31, 2021	[1]		284,573,316
Net loss	[1]	(18,434,541)					(18,434,541)
Other comprehensive income	[1]	905,382				905,382
Exercise of stock options	[1]	$ 197,167	$ 730		196,437
Exercise of stock options, Shares		730,249	730,249	[1]
Exercise of warrants	[1]	$ 169,575	$ 1,625		167,950
Exercise of warrants, Shares	[1]		1,623,700
Stock-based compensation	[1]	4,191,984			4,191,984
Ending balance at Mar. 31, 2022	[1]	$ 321,737,682	$ 265,106		$ 467,692,775	$ 608,446	$ (146,828,645)
Ending balance, shares at Mar. 31, 2022	[1]		286,927,265
[1]	Retroactively restated from the earliest period presented for the Torchlight RTO (“Reverse acquisition”) as described in Note 3

Condensed Consolidated Interi_5

Condensed Consolidated Interim Statements of Cash Flows - USD ($)		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities:
Net loss	[1]	$ (18,434,541)	$ (44,158,519)
Adjustments to reconcile net loss to net cash used in operating activities:
Non-cash finance income		(12,920)
Non-cash interest expense		126,714	358,562
Non- cash lease expense		240,548	73,383
Deferred income tax			(44,679)
Depreciation and amortization		1,672,969	590,201
Unrealized foreign currency exchange (gain) loss		(140,902)	31,339
Loss on financial instruments, net			40,004,921
Change in deferred revenue		(79,146)	565,801
Non-cash government assistance		(3,047)	(348,650)
Loss on debt settlement			19,253
Stock-based compensation		3,995,442	426,794
Non-cash consulting expense		196,541
Changes in operating assets and liabilities		(6,306,857)	88,119
Net cash used in operating activities		(18,745,199)	(2,393,475)
Cash flows from investing activities:
Purchases of intangible assets			(128,209)
Purchases of property, plant and equipment		(1,746,936)	(1,477,329)
Proceeds from short-term investments		2,884,999
Net cash provided by (used in) investing activities		1,138,063	(1,605,538)
Cash flows from financing activities
Proceeds from long-term debt			1,096,262
Repayments of long-term debt		(91,641)	(12,098)
Proceeds from government grants			223,384
Proceeds from unsecured promissory notes			13,963,386
Proceeds from stock option exercises		197,167	48,629
Proceeds from warrants exercises		169,575	47,839
Net cash provided by financing activities		275,101	15,367,402
Net (decrease) increase in cash, cash equivalents and restricted cash		(17,332,035)	11,368,389
Cash, cash equivalents and restricted cash at beginning of the period		47,434,472	1,395,683
Effects of exchange rate changes on cash, cash equivalents and restricted cash		126,233	108,578
Cash, cash equivalents and restricted cash at end of the period		30,228,670	12,872,650
Supplemental cash flow information
Accrued purchases of property, equipment, and patents		1,772,821	127,456
Right-of-use assets obtained in exchange for lease liabilities		$ 146,822	1,300,573
Settlement of liabilities in common stock			52,063,431
Interest paid on debt			$ 64,528
[1]	Retroactively restated from the earliest period presented for the Torchlight RTO (“Reverse acquisition”) as described in Note 3

Corporate Information

Corporate Information	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Corporate Information	1. Corporate information Meta Materials Inc. (also referred to herein as the “Company”, “META”, “we”, “us”, “our”, or “Resulting Issuer”) is a smart materials and photonics company specializing in metamaterial research and products, nanofabrication, and computational electromagnetics. Our registered office is located at 85 Swanson Road, Boxborough, Massachusetts 01719 and our principal executive office is located at 1 Research Drive, Halifax, Nova Scotia, Canada. On December 14, 2020 , we (formerly known as “Torchlight Energy Resources, Inc.” or “Torchlight”) and our subsidiaries, Metamaterial Exchangeco Inc. (formerly named 2798832 Ontario Inc., “Canco”) and 2798831 Ontario Inc. (“Callco”), entered into an Arrangement Agreement (the “Arrangement Agreement”) with Metamaterial Inc., an Ontario corporation headquartered in Nova Scotia, Canada (“MMI”), to acquire all of the outstanding common stock of MMI by way of a statutory plan of arrangement (the “Arrangement”) under the Business Corporations Act (Ontario), on and subject to the terms and conditions of the Arrangement Agreement (the “Torchlight RTO”). On June 25, 2021, we implemented a reverse stock split. On June 28, 2021, following the satisfaction of the closing conditions set forth in the Arrangement Agreement, the Arrangement was completed, and we changed our name from “Torchlight Energy Resources, Inc.” to “Meta Materials Inc.” and changed our trading symbol from “TRCH” to “MMAT”. On June 28, 2021, and pursuant to the completion of the Arrangement Agreement, we began trading on the NASDAQ under the symbol “MMAT” while MMI common stock was delisted from the Canadian Securities Exchange (“CSE”) and at the same time, Metamaterial Exchangeco Inc., a wholly-owned subsidiary of META, started trading under the symbol “MMAX” on the CSE. Certain previous shareholders of MMI elected to convert their common stock of MMI into exchangeable shares in Metamaterial Exchangeco Inc. These exchangeable shares, which can be converted into common stock of META at the option of the holder, are similar in substance to common shares of META and have been included in the determination of outstanding common shares of META. For accounting purposes, the legal subsidiary, MMI, has been treated as the accounting acquirer and the Company, the legal parent, has been treated as the accounting acquiree. The transaction has been accounted for as a reverse acquisition in accordance with ASC 805 Business Combinations . Accordingly, these condensed consolidated interim financial statements are a continuation of MMI consolidated financial statements prior to June 28, 2021 and exclude the balance sheets, statements of operations and comprehensive loss, statement of changes in stockholders’ equity and statements of cash flows of Torchlight prior to June 28, 2021. See note 3 for additional information.

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Significant Accounting Policies	2. Significant accounting policies Basis of presentation — These unaudited condensed consolidated interim financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). Our fiscal year-end is December 31. The condensed consolidated interim financial statements include the accounts of Meta Materials Inc. and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated on consolidation. These unaudited condensed consolidated interim financial statements do not include all of the information and notes required by US GAAP for annual financial statements. Accordingly, these unaudited condensed consolidated interim financial statements should be read in conjunction with our audited consolidated financial statements and notes for the years ended December 31, 2021, 2020 and 2019, filed with the Securities and Exchange Commission (“SEC”) on Form 10-K/A . Recently Adopted Accounting Pronouncements: We currently have no material recently adopted accounting pronouncements. Recently Issued Accounting Pronouncements: We currently have no material recent accounting pronouncements yet to be adopted.

Acquisitions and Preferred Stoc

Acquisitions and Preferred Stock Liability	3 Months Ended
	Mar. 31, 2022
Acquisitions and Preferred Stock Liability [Abstract]
Acquisitions and Preferred Stock Liability	3. Acquisitions and preferred stock liability Torchlight RTO On June 28, 2021, We and our subsidiaries, Canco and Callco, completed an arrangement agreement where we acquired all of the outstanding common stock of MMI and the former shareholders of MMI acquired approximately 70 % of our Common Stock. Accordingly, the former shareholders of MMI, as a group, retained control of the Company, and while the Company was the legal acquirer of MMI, MMI was deemed to be the acquirer for accounting purposes. Pursuant to ASC 805 Business Combinations , the transaction was accounted for as a reverse acquisition. Consideration transferred was measured to be $ 358 million and the difference between the consideration transferred and fair value of net assets resulted in the recognition of goodwill of $ 213 million. Nanotech acquisition On October 5, 2021 , a wholly-owned subsidiary of the Company purchased 100 % of the common stock of Nanotech Security Corp. ("Nanotech") at CA$ 1.25 per share. In addition, the transaction price included the settlement of certain Nanotech share awards outstanding immediately prior to the closing of the agreement. The consideration paid to the shareholders under the agreement resulted in a total purchase price of $ 72.1 million (CA$ 90.8 million) and the difference between the consideration paid and fair value of net assets resulted in the recognition of goodwill of $ 27 million. Other considerations As of and for the period ended March 31, 2022, no changes have been made to the provisional purchase price allocations of the Torchlight RTO and the Nanotech acquisition, as disclosed in the audited consolidated financial statements and notes for the years ended December 31, 2021 and 2020 contained in form 10K/A filed with the Securities and Exchange Commission on May 2, 2022. We believe that information gathered to date provides a reasonable basis for estimating the fair value of assets acquired and liabilities assumed, however we are waiting for additional information necessary to finalize these fair values including assessment of any tax assets and liabilities and tax position in different jurisdictions. Therefore, the provisional measurements of fair value are subject to change. We expect to complete the purchase price allocations as soon as practicable but no later than one year from the acquisition dates.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
Related party transactions	4. Related party transactions As of March 31, 2022 and December 31, 2021, receivables due from a related party (Lamda Guard Technologies Ltd, or “LGTL”) were $ 10,314 and $ 10,657 , respectively.

Assets Held for Sale

Assets Held for Sale	3 Months Ended
	Mar. 31, 2022
Assets Held for Sales Disclosure [Abstract]
Assets Held for Sale	5. Assets held for sale As of March 31, 2022 and December 31, 2021, assets held for sale represent the acquired oil and natural gas properties from the Torchlight RTO. Orogrande Project, West Texas Our outstanding drilling obligation includes five wells in 2022 and 2023. All drilling obligations through December 31, 2021 have been met. The drilling obligations are minimum yearly requirements and may be exceeded if acceleration is desired. During the three months ended March 31, 2022, we have incurred an additional $ 1.1 million in cost to ensure that compliance with the relevant leases was maintained. The Orogrande Project ownership as of March 31, 2022 is detailed as follows: Revenue Interest Working Interest University Lands - Mineral Owner 20.00 % n/a ORRI - Magdalena Royalties, LLC, and entity controlled by Gregory McCabe, Chairman 4.50 % n/a ORRI - Unrelated Party 0.50 % n/a Hudspeth Oil Corporation, a subsidiary of Meta Materials Inc. 49.88 % 66.50 % Wolfbone Investments LLC, and entity controlled by Gregory McCabe, Chairman 18.75 % 25.00 % Conversion by Note Holders in March, 2020 4.50 % 6.00 % Unrelated Party 1.88 % 2.50 % 100.00 % 100.00 % Hazel Project in the Midland Basin in West Texas As part of our review of the fair value of the Hazel Project property as at March 31, 2022, we obtained a new engineering reserve report prepared by PeTech Enterprises, Inc. ("PeTech"), a third-party Reserve Engineer. The calculations were prepared using standard geological and engineering methods generally accepted by the petroleum industry and in accordance with SEC financial accounting and reporting standards. Total reserve estimates made in the new engineering reserve report were lower than those previously made and used in the valuation for the Hazel Project property as of December 31, 2021. This resulted in $ 3.5 million decrease in the fair value of the preferred share liability, and a corresponding impairment for the same amount to Assets Held for Sale, such that the fair value of the Hazel Project property as of March 31, 2022 is $ nil .

Inventory

Inventory	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Inventory	6. Inventory Inventory consists of photosensitive materials, lenses, laser protection film and finished eyewear, and is comprised of the following: March 31, December 31, Raw materials $ 291,191 $ 196,868 Supplies 17,349 8,886 Work in process 40,804 30,636 Finished goods 17,615 29,328 Total inventory $ 366,959 $ 265,718

Property, Plant and Equipment,

Property, Plant and Equipment, Net	3 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, Net	7. Property, plant and equipment, net Property, plant and equipment consist of the following: Useful life As of (years) March 31, December 31, Land N/A $ 476,152 $ 469,317 Building 25 5,545,952 5,509,403 Computer equipment 3 - 5 295,481 262,320 Computer software 1 281,667 277,717 Manufacturing equipment 2 - 5 22,603,569 17,762,405 Office furniture 5 - 7 584,447 525,961 Enterprise Resource Planning software 5 214,224 211,149 Leasehold Improvements 5 1,346,287 236,251 Assets under construction N/A 6,545,468 8,872,695 37,893,247 34,127,218 Accumulated depreciation and impairment ( 7,915,463 ) ( 7,109,104 ) $ 29,977,784 $ 27,018,114 Depreciation expense was $ 754,957 and $ 361,773 for the three months ended March 31, 2022, and March 31, 2021, respectively. Property, plant and equipment is pledged as security under a General Security Agreement (a “GSA”) signed in favor of the Royal Bank of Canada (“RBC”) on July 14, 2014, which is related to our corporate bank account and credit card and includes all property, plant and equipment and intangible assets.

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Long-term debt	8. Long-term debt March 31, December 31, ACOA Business Development Program (“BDP”) 2012 interest-free loan1 with a maximum contribution of CA$ 500,000 , repayable in monthly repayments commencing October 1, 2015 of CA$ 5,952 until June 1, 2023 . Loan repayments were temporarily paused effective April 1, 2020 until January 1, 2021 as a result of the COVID-19 outbreak. As at March 31, 2022, the amount drawn down on the loan, net of repayments, is CA$ 89,286 (December 31, 2021 - CA$ 107,143 ). $ 68,497 $ 80,390 ACOA Atlantic Innovation Fund (“AIF”) 2015 interest-free loan 1,2 with a maximum contribution of CA$ 3,000,000 . Annual repayments, commencing June 1, 2021 , are calculated as a percentage of gross revenue for the preceding fiscal year, at Nil when gross revenues are less than CA$ 1,000,000 , 5 % when gross revenues are less than CA$ 10,000,000 and greater than CA$ 1,000,000 , and CA$ 500,000 plus 1 % of gross revenues when gross revenues are greater than CA$ 10,000,000 . As at March 31, 2022, the amount drawn down on the loan is CA$ 2,924,615 (December 31, 2021 - CA$ 2,924,615 ). 1,728,368 1,666,764 ACOA BDP 2018 interest-free loan 1,3 with a maximum contribution of CA$ 3,000,000 , repayable in monthly repayments commencing June 1, 2021 of CA$ 31,250 until May 1, 2029 . As at March 31, 2022, the amount drawn down on the loan, net of repayments, is CA$ 2,687,500 (December 31, 2021 - CA$ 2,781,250 ). 1,313,195 1,319,130 ACOA BDP 2019 interest-free loan 1 with a maximum contribution of CA$ 100,000 , repayable in monthly repayments commencing June 1, 2021 of CA$ 1,400 until May 1, 2027 . As at March 31, 2022, the amount drawn down on the loan, net of repayments, is CA$ 86,111 (December 31, 2021 - CA$ 90,278 ). 41,466 42,011 ACOA Regional Relief and Recovery Fund (“RRRF”) 2020 interest-free loan with a maximum contribution of CA$ 390,000 , repayable on monthly repayments commencing April 1, 2023 of CA$ 11,000 until April 1, 2026 . As at March 31, 2022, the amount drawn down on the loan is CA$ 390,000 (December 31, 2021 - CA$ 390,000 ). 133,059 120,154 3,284,585 3,228,449 Less: current portion 363,654 491,278 $ 2,920,931 $ 2,737,171 1 We were required to maintain a minimum balance of positive equity throughout the term of the loan. However, on November 14, 2019, ACOA waived this requirement for the period ending June 30, 2019 and for each period thereafter until the loan is fully repaid. 2 The carrying amount of the ACOA AIF loan is reviewed each reporting period and adjusted as required to reflect management’s best estimate of future cash flows, discounted at the original effective interest rate. 3 A portion of the ACOA BDP 2018 loan was used to finance the acquisition and construction of manufacturing equipment resulting in $ 425,872 was being recorded as deferred government assistance, which is being amortized over the useful life of the associated equipment. We recorded the amortization expense for the three months ended March 31, 2022 of $ 3,047 (three months ended March 31, 2021—$ 36,020 ) as government assistance in the condensed consolidated interim statements of operations and comprehensive loss. As of March 31, 2022, the portion recorded as deferred government assistance is amortized in full.

Capital Stock

Capital Stock	3 Months Ended
	Mar. 31, 2022
Stockholders' Equity Note [Abstract]
Capital Stock	9. Capital stock Common stock Authorized: 1,000,000,000 common shares, $ 0.001 par value. All references to numbers of common shares and amounts in the condensed consolidated interim statements of changes in stockholder’s equity and in the notes to the condensed consolidated interim financial statements have been retroactively restated to reflect as if the Torchlight RTO had taken place as of the beginning of the earliest period presented. • The numbers of common shares issued pre-Torchlight RTO have been multiplied by the 1.845 Torchlight conversion ratio. • The amounts of common shares issued pre-Torchlight RTO were calculated by multiplying the number of shares by 0.001 and the 1.845 Torchlight conversion ratio and the difference were recognized in additional paid in capital. During the three months ended March 31, 2022, 1,988,617 warrants and were exercised to purchase 1,623,700 common shares where most warrant holders elected cashless exercise and consequently, the difference of 364,917 shares was withheld to cover the exercise cost. During the three months ended March 31, 2022, 730,249 stock options were exercised to purchase an equal number of common shares. Warrants The following table summarizes the changes in our warrants: Three months ended March 31, Number of warrants (#) Amount Outstanding, December 31, 2021 5,264,959 $ 6,957,974 Exercised ( 1,988,617 ) ( 251,915 ) Expired ( 692,462 ) ( 101,156 ) Outstanding, March 31, 2022 2,583,880 $ 6,604,903 Broker warrants The following table summarizes the changes in our broker warrants: Three months ended March 31, Number of warrants (#) Amount Outstanding, December 31, 2021 13,887 $ 1,826 Expired ( 13,887 ) ( 1,826 ) Outstanding, March 31, 2022 — $ —

Share-Based Payments

Share-Based Payments	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Share-based payments	10. Stock-based payments On December 3, 2021, our shareholders approved the 2021 Equity Incentive Plan to utilize the 3,500,000 shares reserved and unissued under the Torchlight 2015 Stock Option and Grant Plan and the 6,445,745 shares reserved and unissued under the MMI 2018 Stock Option and Grant plan to set the number of shares reserved for issuance under the 2021 Equity Incentive Plan at 34,945,745 shares. The 2021 Equity Incentive Plan allows the grants of non-statutory stock options, restricted stock, restricted stock units ("RSUs"), stock appreciation rights, performance units and performance shares to employees, directors, and consultants. DSU Plan On March 28, 2013, we implemented a Deferred Stock Unit (DSU) Plan for our directors, employees and officers. Directors, employees and officers are granted DSUs with immediate vesting as a form of compensation. Each unit is convertible at the option of the holder into one common share. Eligible individuals are entitled to receive all DSUs (including dividends and other adjustments) no later than December 1st of the first calendar year commencing after the time of termination of their services. As of March 31, 2022, there were 3,647,026 outstanding DSUs. There were no new DSUs issued, no DSUs exercised and no DSUs expired during the three months ended March 31, 2022. RSU Plan Each unit is convertible at the option of the holder into one common share of our shares upon meeting the vesting conditions. Total stock-based compensation expense related to RSUs included in the condensed consolidated interim statements of operations was as follows: Three months ended March 31, 2022 Cost of sales $ 50,653 Selling & marketing 15,493 General & administrative 120,165 Research & development 97,211 $ 283,522 The following table summarizes the change in outstanding RSUs: Number of Weighted Outstanding, December 31, 2021 300,000 $ 6.43 Granted 3,832,278 1.71 Outstanding, March 31, 2022 4,132,278 $ 2.05 X Vested, March 31, 2022 300,000 $ 6.43 Employee Stock Option Plan Each stock option is convertible at the option of the holder into one common share upon payment of exercise price. Total stock-based compensation expense related to stock options included in the condensed consolidated interim statements of operations was as follows: Three months ended March 31, 2022 2021 Selling & marketing $ 4,393 $ 11,269 General & administrative 3,283,469 243,890 Research & development 424,058 171,635 $ 3,711,920 $ 426,794 The following table summarizes the change in our outstanding stock options: Number of Weighted Weighted Aggregate intrinsic Outstanding, December 31, 2021 21,404,641 $ 0.36 $ 7.34 $ 56,924,556 Granted 6,839,449 2.02 Forfeited ( 8,732 ) 0.27 Exercised ( 730,249 ) 0.27 Outstanding, March 31, 2022 27,505,109 $ 0.78 $ 5.34 $ 27,675,251 X Exercisable, March 31, 2022 19,407,982 $ 0.73 $ 7.31 $ 21,320,991 Below is a summary of the outstanding options as of March 31, 2022 and December 31, 2021: March 31, December 31, 2022 2021 Exercise price Number outstanding Number exercisable Number outstanding Number exercisable $ 0.27 18,328,548 14,034,258 19,067,529 10,893,918 0.12 518,112 518,113 518,112 518,112 0.15 369,000 369,000 369,000 369,000 2.00 1,075,000 1,075,000 1,075,000 1,125,000 1.00 375,000 375,000 375,000 325,000 3.47 200,000 200,000 — — 7.96 300,000 300,000 — — 1.97 1,894,111 1,894,111 — — 1.58 4,445,338 642,500 — — 27,505,109 19,407,982 21,404,641 13,231,030 The fair value of options granted was estimated at the grant date using the following weighted-average assumptions: Three months ended March 31, Grant date fair value 1.16 Weighted average expected volatility 87 % Weighted average risk-free interest rate 1.78 % Weighted average expected life of the options 5.43 years Where possible, we use the simplified method to estimate the expected term of employee stock options. We do not have adequate historical exercise data to provide a reasonable basis for estimating the expected term for the current share options granted. The simplified method assumes that employees will exercise share options evenly between the period when the share options are vested and ending on the date when the options would expire. The expected volatility reflects the assumption that the historical volatility over a period similar to the life of the options is indicative of future trends, which may not necessarily be the actual outcome.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	11. Income taxes We estimate our annual effective income tax rate in recording our quarterly provision for income taxes in the various jurisdictions in which it operates. Statutory tax rate changes and other significant or unusual items are recognized as discrete items in the quarter in which they occur. Our effective tax rate for the three months ended March 31, 2022 differs from the statutory rates due to valuation allowance as well as different domestic and foreign statutory tax rates. Deferred tax recovery for the three months ended March 31, 2022 was $ nil (three months ended March 31, 2021 - $ 44,679 ). Three months ended March 31, 2022 2021 Deferred tax recovery $ — $ 44,679 We have not yet been able to establish profitability or other sufficient significant positive evidence, to conclude that our deferred tax assets are more likely than not to be realized. Therefore, we continue to maintain a valuation allowance against our deferred tax assets.

Net Loss Per Share

Net Loss Per Share	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Net loss per share	12. Net loss per share The following table sets forth the calculation of basic and diluted net loss per share during the periods presented: Three months ended March 31, 2022 2021 Numerator: Net loss $ ( 18,434,541 ) $ ( 44,158,519 ) Denominator: Weighted-average shares, basic 285,224,469 168,864,762 Weighted-average shares, diluted 285,224,469 168,864,762 Net loss per share Basic $ ( 0.06 ) $ ( 0.26 ) Diluted $ ( 0.06 ) $ ( 0.26 ) The following potentially dilutive shares were not included in the calculation of diluted shares above as the effect would have been anti-dilutive: Three months ended March 31, 2022 2021 1 Options $ 27,505,109 $ 24,264,957 Warrants 2,583,880 3,000,844 DSUs 3,647,026 3,455,224 RSUs 4,132,278 - $ 37,868,293 $ 30,721,025 1 All references to numbers in comparative figures have been retroactively restated to reflect the number of stock of the legal parent (accounting acquiree) issuable following the reverse acquisition. The numbers of options, warrants, and DSUs issued pre-Torchlight RTO have been multiplied by 1.845 Torchlight conversion ratio.

Additional Cash Flow Informatio

Additional Cash Flow Information	3 Months Ended
	Mar. 31, 2022
Supplemental Cash Flow Elements [Abstract]
Additional Cash Flow Information	13. Additional cash flow information The net changes in non-cash working capital balances related to operations consist of the following: Three months ended March 31, 2022 2021 Grants receivable $ 146,950 $ 30,436 Inventory ( 96,285 ) 126,939 Other receivables ( 821,774 ) ( 66,258 ) Prepaid expenses 74,343 30,782 Other current assets ( 417,054 ) ( 13,208 ) Trade payables ( 5,062,908 ) ( 11,694 ) Due from (to) related party ( 54,051 ) ( 8,878 ) Operating lease Right-of-use Asset ( 56 ) - Operating lease liabilities ( 76,022 ) - $ ( 6,306,857 ) $ 88,119

Fair value measurements

Fair value measurements	3 Months Ended
	Mar. 31, 2022
Financial Instruments Disclosure [Abstract]
Fair value measurements	14. Fair value measurements We use a fair value hierarchy, based on the relative objectivity of inputs used to measure fair value, with Level 1 representing inputs with the highest level of objectivity and Level 3 representing the lowest level of objectivity. The fair values of cash and cash equivalents, restricted cash, short-term investments, grants and accounts receivables, due from related parties and trade and other payables approximate their carrying values due to the short-term nature of these instruments. The current portion of long-term debt has been included in the below table. The fair value of assets held for sale is classified at level 3 as the fair value of the O&G assets was estimated by obtaining a valuation study performed by Roth Capital Inc. and a subsequent engineering reserve report by Petech. The fair value of the preferred stock liability is also classified as level 3 since the fair value measurement of the oil and natural gas properties forms the basis for the fair value measurement of the preferred stock liability as of March 31, 2022. The fair values of the funding obligation, operating lease liabilities, and long-term debt would be classified at Level 3 in the fair value hierarchy, as each instrument is estimated based on unobservable inputs including discounted cash flows using the market rate, which is subject to similar risks and maturities with comparable financial instruments as at the reporting date. Carrying values and fair values of financial instruments that are not carried at fair value are as follows: March 31, December 31, Financial liability Carrying value Fair value Carrying value Fair value Funding obligation $ 286,182 $ 172,819 $ 268,976 $ 170,338 Operating lease liabilities 4,459,159 5,088,149 4,370,635 6,149,369 Long-term debt 3,284,585 2,201,679 3,228,449 2,303,648

Revenue

Revenue	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue	15. Revenue We have one operating segment based on how management internally evaluates separate financial information, business activities and management responsibility. Revenue is disaggregated as follows: Three months ended March 31, 2022 2021 Product sales $ 168,127 $ 22,047 Contract revenue 1 2,706,568 408,920 Other development revenue 100,000 165,336 Development revenue 2,806,568 574,256 $ 2,974,695 $ 596,303 1 A portion of contract revenue represents previously recorded deferred revenue that was recognized as revenue after satisfaction of performance obligations either through passage of time or after completion of specific performance milestones. Customer concentration A significant amount of our revenue is derived from contracts with major customers. For the three months ended March 31, 2022, revenue from one customer accounted for $ 2,668,144 or 90 % of total revenue. Nanotech currently derives a significant portion of its revenue from contract services with a G10 central bank. In 2021, Nanotech entered into a development contract for up to $ 41.5 million over a period of up to five years . These contract services incorporate both nano-optic and optical thin film technologies and are focused on developing authentication features for future banknotes. For the three months ended March 31, 2021, we had one customer that accounted for $ 245,229 or 41 % of total revenue.

Loss on financial instruments,

Loss on financial instruments, net	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
(Loss) Gain on financial instruments, net	16. Loss on financial instruments, net Three months ended March 31, 2022 2021 Loss on unsecured convertible promissory notes – Bridge loan $ — $ ( 19,163,417 ) Gain on unsecured convertible promissory notes – Torchlight notes — 191,973 Loss on secured convertible debentures — ( 16,957,029 ) Loss on unsecured convertible debentures — ( 4,076,448 ) $ — $ ( 40,004,921 )

Leases

Leases	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Leases	17. Leases We entered into the following lease during the three months ended March 31, 2022: Burnaby lease expansion On February 25, 2022, our subsidiary Nanotech entered into an agreement to amend its Burnaby lease ("expansion"), to expand the premises by an additional 1,994 square feet, commencing on June 1, 2022 , for a period of two years and eleven months . The agreement provides the tenant with early access to the premises at least three months prior to the commencement date to conduct leasehold improvements. We obtained access to the premises on March 25, 2022 and consequently recognized a right-of-use asset and liability for the expansion as of March 31, 2022, of $ 146,822 . Total operating lease expense included in the condensed consolidated interim statements of operations and comprehensive loss is as follows: Three months ended March 31, 2022 2021 Operating lease expense $ 426,428 $ 45,437 Short term lease expense 81,638 26,150 Variable and other lease expense 58,817 12,710 Total $ 566,883 $ 84,297 We have elected the practical expedient in ASC 842 " Leases " to not capitalize any leases with initial terms of less than twelve months on our balance sheet and include them as short-term lease expense in the condensed consolidated interim statements of operations and comprehensive loss. Future minimum payments under non-cancelable operating lease obligations were as follows as of March 31, 2022: Remainder of 2022 $ 819,471 2023 1,230,530 2024 1,235,980 2025 1,114,417 2026 961,099 Thereafter 2,987,718 Total minimum lease payments 8,349,215 Less: interest ( 3,890,056 ) Present value of net minimum lease payments 4,459,159 Less: current portion of lease liabilities ( 782,901 ) Total long-term lease liabilities $ 3,676,258

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	18. Commitments and contingencies Legal Matters On April 30, 2020, our wholly owned subsidiary, Hudspeth Oil Corporation, filed suit against Datalog LWT, Inc. d/b/a Cordax Evaluation Technologies. The suit seeks the recovery of approximately $ 1.4 million in costs incurred as a result of a tool failure during drilling activities on the University Founders A25 #2 well that is located in the Orogrande Field. Working interest owner Wolfbone Investments, LLC, a company owned by our former Chairman Gregory McCabe, is a co-plaintiff in that action. After the suit was filed, Cordax filed a mineral lien in the amount of $ 104,500 against the Orogrande Field and has sued the operator and counterclaimed against Hudspeth for breach of contract, seeking the same amount as the lien. We have added the manufacturer of one of the tool components that we contend was a cause of the tool failure. It was later discovered that Datalog LWT, Inc. d/b/a Cordax Evaluation Technologies forfeited its charter to conduct business in the State of Texas by failing to timely pay its franchise taxes, and we added members of the board of directors to the case pursuant to the Texas Tax Code. It was recently disclosed that Datalog LWT, Inc. d/b/a Cordax Evaluation Technologies is the subsidiary of a Canadian parent company, Cordax Evaluation Technologies, Inc., who has also been added to the case. The suit, Hudspeth Oil Corporation and Wolfbone Investments, LLC v. Datalog LWT, Inc. d/b/a Cordax Evaluation Technologies, was filed in the 189th Judicial District Court of Harris County, Texas. Our current Chairman of the Board filed a special appearance after being served with citation, alleging that he was a Canadian citizen with no meaningful ties to Texas. After discovery was conducted on this issue, we filed a nonsuit without prejudice for this Defendant, dismissing him from the case. The remaining parties are currently engaged in preliminary discovery and are scheduling mediation. On March 18, 2021, Datalog LWT, Inc. d/b/a Cordax Evaluation Technologies filed a lawsuit in Hudspeth County, Texas seeking to foreclose its mineral lien against the Orogrande Field in the amount of $ 104,500.01 and recover related attorney’s fees. The foreclosure action, Datalog LWT Inc. d/b/a Cordax Evaluation Technologies v. Torchlight Energy Resources, Inc., was filed in the 205th Judicial District Court of Hudspeth County, Texas. We are contesting the lien in good faith and filed a Plea in Abatement on May 10, 2021, seeking a stay in the Hudspeth County lien foreclosure case pending final disposition of the related case currently pending in Harris County, Texas. In September 2021, we received a subpoena from the Securities and Exchange Commission, Division of Enforcement, in a matter captioned In the Matter of Torchlight Energy Resources, Inc. The subpoena requests that we produce certain documents and information related to, among other things, the merger involving Torchlight Energy Resources, Inc. and Metamaterial Inc. We are cooperating and intend to continue to cooperate with the SEC’s investigation. We can offer no assurances as to the outcome of this investigation or its potential effect, if any, on us or our results of operation. On January 3, 2022, a putative securities class action lawsuit was filed in the U.S. District Court for the Eastern District of New York captioned Maltagliati v. Meta Materials Inc., et al., No. 1:21-cv-07203, against us, our Chief Executive Officer, our Chief Financial Officer, Torchlight’s former Chairman of the Board of Directors, and Torchlight’s former Chief Executive Officer. On January 26, 2022, a similar putative securities class action lawsuit was filed in the U.S. District Court for the Eastern District of New York captioned McMillan v. Meta Materials Inc., et al., No. 1:22-cv-00463. The McMillan complaint names the same defendants and asserts the same claims on behalf of the same purported class as the Maltagliati complaint. The complaints, purportedly brought on behalf of all purchasers of our publicly traded securities from September 21, 2020 through and including December 14, 2021, assert claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) arising primarily from a short-seller report and statements related to our business combination with Torchlight. The complaints seek unspecified compensatory damages and reasonable costs and expenses, including attorneys’ fees. On April 11, 2022, the Court held a hearing on motions to consolidate the two actions and to appoint a lead plaintiff or lead plaintiffs, but has not yet ruled on the motions. On January 14, 2022, a shareholder derivative action was filed in the U.S. District Court for the Easter District of New York captioned Hines v. Palikaras, et al., No. 1:22-cv-00248. The complaint names as defendants certain of our current officers and directors, certain former Torchlight officers and directors, and us (as nominal defendant). The complaint, purportedly brought on behalf of the Company, asserts claims under Section 14(a) of the Exchange Act, contribution claims under Sections 10(b) and 21D of the Exchange Act, and various state law claims such as breach of fiduciary duties and unjust enrichment. The complaint seeks, among other things, unspecified compensatory damages in favor of the Company, certain corporate governance related actions, and an award of costs and expenses to the derivative plaintiff, including attorneys’ fees. On March 9, 2022, the Court entered a stipulated order staying this action until there is a ruling on a motion to dismiss in the Securities Class Action. Contractual Commitments and Purchase Obligations a) On January 29, 2021, we arranged an irrevocable standby letter of credit with Toronto Dominion Bank (“TD”) in favor of Covestro Deutschland AG (“Covestro”) for EUR 600,000 in relation to Cooperation Framework Agreement (“CFA”). In the event we fail to meet the performance milestones under the CFA, Covestro shall draw from the letter of credit with TD. The letter of credit was secured by restricted cash of CA$ 1,000,000 under a cash use agreement which has been recorded as long-term debt in the consolidated balance sheets. We have assessed the performance milestones against ASC 606 and recognized the full contract amount as development revenue in the year ended December 31, 2021. As of March 31, 2022, Covestro has issued certificates of reduction totaling EUR 325,000 and the letter of credit had an outstanding amount of EUR 275,000 . b) During 2020, we signed a three-year supply deal with Covestro Deutschland AG, which provides early access to new photo-sensitive holographic film materials, the building block of MMI’s holographic product. This agreement will not only allow early access to Covestro’s R&D library of photopolymer films but will also accelerate MMI’s product development and speed of innovation. Target markets include photonics/optical filters and holographic optical elements, diffusers, laser eye protection, optical combiners, and AR (augmented reality) applications. The agreement is valid till October 31, 2023. c) During 2018, we arranged a guarantee/standby letter of credit with RBC in favor of Satair A/S for $ 500,000 in relation to an advance payment received. In the event we fail to deliver the product as per the contract or refuse to accept the return of the product as per the buyback clause of the contract or fails to repay the advance payment in accordance with the conditions of the agreement signed with Satair on September 18, 2018, Satair shall draw from the letter of credit with RBC. Borrowings from the letter of credit with RBC are repayable on demand. The letter of credit from RBC is secured by a performance security guarantee cover issued by Export Development of Canada. Further, this guarantee/standby letter of credit expires on October 5, 2021 . As at March 31, 2022, no amount has been drawn from the letter of credit with RBC. d) On December 8, 2016, we entered into a cooperation agreement with a large aircraft manufacturer to co-develop laser protection filters for space and aeronautical civil and military applications, METAAIR, and support the setup of manufacturing facilities for product certification and development. The cooperation agreement includes financial support provided to us in the form of non-recurring engineering costs of up to $ 4,000,000 to be released upon agreement of technical milestones in exchange for a royalty fee due by us on gross profit after sales and distribution costs. The total royalty fee to be paid may be adjusted based on the timing of our sales and the amount ultimately paid to us by large aircraft manufacturer to support the development. e) Certain nano-optic products are subject to a 3 % sales royalty in favor of Simon Fraser University ("SFU") where certain elements of the nano-optic technology originated. Royalties were $ Nil during the three months ended March 31, 2022 (2021 - $ 296 ). In 2014, our wholly owned subsidiary, Nanotech, prepaid royalties that would offset against future royalties owed as part of the transfer of the intellectual property from SFU, of which $ 197,016 remains prepaid as at March 31, 2022 (December 31, 2021 - $197, 016). f) Product revenue associated with six patents acquired by Nanotech is subject to royalties. We agreed to share 10 % of any revenues related to the patents received from a specific customer for a period of two years and ongoing royalties of 3 % and 6 % on other revenues derived from the patents for a period of five years . There were no royalties during the three months ended March 31, 2022 (March 31, 2021 - $ Nil ). g) As at March 31, 2022, we had ongoing commitments for maintenance contracts and asset purchases as follows: Remainder of 2022 $ 976,157 2023 43,872 2024 3,115 $ 1,023,144

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	19. Subsequent events Subsequent to March 31, 2022, 10,310 stock options were exercised. On April 5, 2022, Meta Materials Inc. acquired Plasma App Ltd. in a stock for stock transaction valued at $ 20 million. Plasma App Ltd. is the developer of PLASMAfusion™, a first of its kind, proprietary manufacturing platform technology, which enables high speed coating of any solid material on any type of substrate. Plasma App Ltd.’s team is located at the Rutherford Appleton Laboratories in Oxford, UK. Due to the timing of when the transaction closed, there remains insufficient information available to management to be able to complete the initial accounting for the business combination, and as such, the provisional purchase price allocation has not been disclosed.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation — These unaudited condensed consolidated interim financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). Our fiscal year-end is December 31. The condensed consolidated interim financial statements include the accounts of Meta Materials Inc. and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated on consolidation. These unaudited condensed consolidated interim financial statements do not include all of the information and notes required by US GAAP for annual financial statements. Accordingly, these unaudited condensed consolidated interim financial statements should be read in conjunction with our audited consolidated financial statements and notes for the years ended December 31, 2021, 2020 and 2019, filed with the Securities and Exchange Commission (“SEC”) on Form 10-K/A .
Recently adopted and issued accounting pronouncements	Recently Adopted Accounting Pronouncements: We currently have no material recently adopted accounting pronouncements. Recently Issued Accounting Pronouncements: We currently have no material recent accounting pronouncements yet to be adopted.

Assets Held for Sale (Tables)

Assets Held for Sale (Tables)	3 Months Ended
	Mar. 31, 2022
Assets Held for Sales Disclosure [Abstract]
Schedule of Project Ownership	The Orogrande Project ownership as of March 31, 2022 is detailed as follows: Revenue Interest Working Interest University Lands - Mineral Owner 20.00 % n/a ORRI - Magdalena Royalties, LLC, and entity controlled by Gregory McCabe, Chairman 4.50 % n/a ORRI - Unrelated Party 0.50 % n/a Hudspeth Oil Corporation, a subsidiary of Meta Materials Inc. 49.88 % 66.50 % Wolfbone Investments LLC, and entity controlled by Gregory McCabe, Chairman 18.75 % 25.00 % Conversion by Note Holders in March, 2020 4.50 % 6.00 % Unrelated Party 1.88 % 2.50 % 100.00 % 100.00 %

Inventory (Tables)

Inventory (Tables)	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Summary of Inventory	Inventory consists of photosensitive materials, lenses, laser protection film and finished eyewear, and is comprised of the following: March 31, December 31, Raw materials $ 291,191 $ 196,868 Supplies 17,349 8,886 Work in process 40,804 30,636 Finished goods 17,615 29,328 Total inventory $ 366,959 $ 265,718

Property, Plant and Equipment_2

Property, Plant and Equipment, Net (Tables)	3 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property, plant and equipment consist of the following: Useful life As of (years) March 31, December 31, Land N/A $ 476,152 $ 469,317 Building 25 5,545,952 5,509,403 Computer equipment 3 - 5 295,481 262,320 Computer software 1 281,667 277,717 Manufacturing equipment 2 - 5 22,603,569 17,762,405 Office furniture 5 - 7 584,447 525,961 Enterprise Resource Planning software 5 214,224 211,149 Leasehold Improvements 5 1,346,287 236,251 Assets under construction N/A 6,545,468 8,872,695 37,893,247 34,127,218 Accumulated depreciation and impairment ( 7,915,463 ) ( 7,109,104 ) $ 29,977,784 $ 27,018,114

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Summary of Long Term Debt	March 31, December 31, ACOA Business Development Program (“BDP”) 2012 interest-free loan1 with a maximum contribution of CA$ 500,000 , repayable in monthly repayments commencing October 1, 2015 of CA$ 5,952 until June 1, 2023 . Loan repayments were temporarily paused effective April 1, 2020 until January 1, 2021 as a result of the COVID-19 outbreak. As at March 31, 2022, the amount drawn down on the loan, net of repayments, is CA$ 89,286 (December 31, 2021 - CA$ 107,143 ). $ 68,497 $ 80,390 ACOA Atlantic Innovation Fund (“AIF”) 2015 interest-free loan 1,2 with a maximum contribution of CA$ 3,000,000 . Annual repayments, commencing June 1, 2021 , are calculated as a percentage of gross revenue for the preceding fiscal year, at Nil when gross revenues are less than CA$ 1,000,000 , 5 % when gross revenues are less than CA$ 10,000,000 and greater than CA$ 1,000,000 , and CA$ 500,000 plus 1 % of gross revenues when gross revenues are greater than CA$ 10,000,000 . As at March 31, 2022, the amount drawn down on the loan is CA$ 2,924,615 (December 31, 2021 - CA$ 2,924,615 ). 1,728,368 1,666,764 ACOA BDP 2018 interest-free loan 1,3 with a maximum contribution of CA$ 3,000,000 , repayable in monthly repayments commencing June 1, 2021 of CA$ 31,250 until May 1, 2029 . As at March 31, 2022, the amount drawn down on the loan, net of repayments, is CA$ 2,687,500 (December 31, 2021 - CA$ 2,781,250 ). 1,313,195 1,319,130 ACOA BDP 2019 interest-free loan 1 with a maximum contribution of CA$ 100,000 , repayable in monthly repayments commencing June 1, 2021 of CA$ 1,400 until May 1, 2027 . As at March 31, 2022, the amount drawn down on the loan, net of repayments, is CA$ 86,111 (December 31, 2021 - CA$ 90,278 ). 41,466 42,011 ACOA Regional Relief and Recovery Fund (“RRRF”) 2020 interest-free loan with a maximum contribution of CA$ 390,000 , repayable on monthly repayments commencing April 1, 2023 of CA$ 11,000 until April 1, 2026 . As at March 31, 2022, the amount drawn down on the loan is CA$ 390,000 (December 31, 2021 - CA$ 390,000 ). 133,059 120,154 3,284,585 3,228,449 Less: current portion 363,654 491,278 $ 2,920,931 $ 2,737,171 1 We were required to maintain a minimum balance of positive equity throughout the term of the loan. However, on November 14, 2019, ACOA waived this requirement for the period ending June 30, 2019 and for each period thereafter until the loan is fully repaid. 2 The carrying amount of the ACOA AIF loan is reviewed each reporting period and adjusted as required to reflect management’s best estimate of future cash flows, discounted at the original effective interest rate. 3 A portion of the ACOA BDP 2018 loan was used to finance the acquisition and construction of manufacturing equipment resulting in $ 425,872 was being recorded as deferred government assistance, which is being amortized over the useful life of the associated equipment. We recorded the amortization expense for the three months ended March 31, 2022 of $ 3,047 (three months ended March 31, 2021—$ 36,020 ) as government assistance in the condensed consolidated interim statements of operations and comprehensive loss. As of March 31, 2022, the portion recorded as deferred government assistance is amortized in full.

Capital Stock (Tables)

Capital Stock (Tables)	3 Months Ended
	Mar. 31, 2022
Class of Warrant or Right [Line Items]
Summary of Changes in Warrant	The following table summarizes the changes in our warrants: Three months ended March 31, Number of warrants (#) Amount Outstanding, December 31, 2021 5,264,959 $ 6,957,974 Exercised ( 1,988,617 ) ( 251,915 ) Expired ( 692,462 ) ( 101,156 ) Outstanding, March 31, 2022 2,583,880 $ 6,604,903
Summary of Changes in Broker Warrant	The following table summarizes the changes in our broker warrants: Three months ended March 31, Number of warrants (#) Amount Outstanding, December 31, 2021 13,887 $ 1,826 Expired ( 13,887 ) ( 1,826 ) Outstanding, March 31, 2022 — $ —

Share-Based Payments (Tables)

Share-Based Payments (Tables)	3 Months Ended
	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summary of change in outstanding share RSUs	The following table summarizes the change in outstanding RSUs: Number of Weighted Outstanding, December 31, 2021 300,000 $ 6.43 Granted 3,832,278 1.71 Outstanding, March 31, 2022 4,132,278 $ 2.05 X Vested, March 31, 2022 300,000 $ 6.43
Summary of change in share outstanding options	The following table summarizes the change in our outstanding stock options: Number of Weighted Weighted Aggregate intrinsic Outstanding, December 31, 2021 21,404,641 $ 0.36 $ 7.34 $ 56,924,556 Granted 6,839,449 2.02 Forfeited ( 8,732 ) 0.27 Exercised ( 730,249 ) 0.27 Outstanding, March 31, 2022 27,505,109 $ 0.78 $ 5.34 $ 27,675,251 X Exercisable, March 31, 2022 19,407,982 $ 0.73 $ 7.31 $ 21,320,991
Summary of stock options outstanding	Below is a summary of the outstanding options as of March 31, 2022 and December 31, 2021: March 31, December 31, 2022 2021 Exercise price Number outstanding Number exercisable Number outstanding Number exercisable $ 0.27 18,328,548 14,034,258 19,067,529 10,893,918 0.12 518,112 518,113 518,112 518,112 0.15 369,000 369,000 369,000 369,000 2.00 1,075,000 1,075,000 1,075,000 1,125,000 1.00 375,000 375,000 375,000 325,000 3.47 200,000 200,000 — — 7.96 300,000 300,000 — — 1.97 1,894,111 1,894,111 — — 1.58 4,445,338 642,500 — — 27,505,109 19,407,982 21,404,641 13,231,030
Summary of fair value grant using weighted-average assumptions	The fair value of options granted was estimated at the grant date using the following weighted-average assumptions: Three months ended March 31, Grant date fair value 1.16 Weighted average expected volatility 87 % Weighted average risk-free interest rate 1.78 % Weighted average expected life of the options 5.43 years
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summary of stock-based compensation expenses	Total stock-based compensation expense related to RSUs included in the condensed consolidated interim statements of operations was as follows: Three months ended March 31, 2022 Cost of sales $ 50,653 Selling & marketing 15,493 General & administrative 120,165 Research & development 97,211 $ 283,522
Employee Stock Option Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summary of stock-based compensation expenses	Total stock-based compensation expense related to stock options included in the condensed consolidated interim statements of operations was as follows: Three months ended March 31, 2022 2021 Selling & marketing $ 4,393 $ 11,269 General & administrative 3,283,469 243,890 Research & development 424,058 171,635 $ 3,711,920 $ 426,794

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Summary Of Deferred Tax Expense Benefit	Three months ended March 31, 2022 2021 Deferred tax recovery $ — $ 44,679

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Summary Basic and Diluted Net Loss Per Share	The following table sets forth the calculation of basic and diluted net loss per share during the periods presented: Three months ended March 31, 2022 2021 Numerator: Net loss $ ( 18,434,541 ) $ ( 44,158,519 ) Denominator: Weighted-average shares, basic 285,224,469 168,864,762 Weighted-average shares, diluted 285,224,469 168,864,762 Net loss per share Basic $ ( 0.06 ) $ ( 0.26 ) Diluted $ ( 0.06 ) $ ( 0.26 )
Summary of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following potentially dilutive shares were not included in the calculation of diluted shares above as the effect would have been anti-dilutive: Three months ended March 31, 2022 2021 1 Options $ 27,505,109 $ 24,264,957 Warrants 2,583,880 3,000,844 DSUs 3,647,026 3,455,224 RSUs 4,132,278 - $ 37,868,293 $ 30,721,025 1 All references to numbers in comparative figures have been retroactively restated to reflect the number of stock of the legal parent (accounting acquiree) issuable following the reverse acquisition. The numbers of options, warrants, and DSUs issued pre-Torchlight RTO have been multiplied by 1.845 Torchlight conversion ratio.

Additional Cash Flow Informat_2

Additional Cash Flow Information (Tables)	3 Months Ended
	Mar. 31, 2022
Supplemental Cash Flow Elements [Abstract]
Summary Of Cash Flow, Operating Capital	The net changes in non-cash working capital balances related to operations consist of the following: Three months ended March 31, 2022 2021 Grants receivable $ 146,950 $ 30,436 Inventory ( 96,285 ) 126,939 Other receivables ( 821,774 ) ( 66,258 ) Prepaid expenses 74,343 30,782 Other current assets ( 417,054 ) ( 13,208 ) Trade payables ( 5,062,908 ) ( 11,694 ) Due from (to) related party ( 54,051 ) ( 8,878 ) Operating lease Right-of-use Asset ( 56 ) - Operating lease liabilities ( 76,022 ) - $ ( 6,306,857 ) $ 88,119

Fair value measurements (Tables

Fair value measurements (Tables)	3 Months Ended
	Mar. 31, 2022
Financial Instruments Disclosure [Abstract]
Summary of Fair Value of Financial Instruments	March 31, December 31, Financial liability Carrying value Fair value Carrying value Fair value Funding obligation $ 286,182 $ 172,819 $ 268,976 $ 170,338 Operating lease liabilities 4,459,159 5,088,149 4,370,635 6,149,369 Long-term debt 3,284,585 2,201,679 3,228,449 2,303,648

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Summary of Revenue Disaggregated	Revenue is disaggregated as follows: Three months ended March 31, 2022 2021 Product sales $ 168,127 $ 22,047 Contract revenue 1 2,706,568 408,920 Other development revenue 100,000 165,336 Development revenue 2,806,568 574,256 $ 2,974,695 $ 596,303 1 A portion of contract revenue represents previously recorded deferred revenue that was recognized as revenue after satisfaction of performance obligations either through passage of time or after completion of specific performance milestones.

Loss on financial instruments_2

Loss on financial instruments, net (Tables)	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of (Loss) Gain on Financial Instruments, Net	Three months ended March 31, 2022 2021 Loss on unsecured convertible promissory notes – Bridge loan $ — $ ( 19,163,417 ) Gain on unsecured convertible promissory notes – Torchlight notes — 191,973 Loss on secured convertible debentures — ( 16,957,029 ) Loss on unsecured convertible debentures — ( 4,076,448 ) $ — $ ( 40,004,921 )

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Summary of Operating Lease Expense	Total operating lease expense included in the condensed consolidated interim statements of operations and comprehensive loss is as follows: Three months ended March 31, 2022 2021 Operating lease expense $ 426,428 $ 45,437 Short term lease expense 81,638 26,150 Variable and other lease expense 58,817 12,710 Total $ 566,883 $ 84,297
Summary Of Future Minimum Payments Under Non-cancelable Operating Lease Obligations	Future minimum payments under non-cancelable operating lease obligations were as follows as of March 31, 2022: Remainder of 2022 $ 819,471 2023 1,230,530 2024 1,235,980 2025 1,114,417 2026 961,099 Thereafter 2,987,718 Total minimum lease payments 8,349,215 Less: interest ( 3,890,056 ) Present value of net minimum lease payments 4,459,159 Less: current portion of lease liabilities ( 782,901 ) Total long-term lease liabilities $ 3,676,258

Corporate Information - Additio

Corporate Information - Additional Information (Details)	3 Months Ended
	Mar. 31, 2022
Arrangement Agreement [Member] | Torchlight [Member]
Date of acquisition agreement	Dec. 14, 2020

Acquisitions and Preferred St_2

Acquisitions and Preferred Stock Liability - Additional Information (Details) $ / shares in Units, $ in Millions	Oct. 05, 2021USD ($)	Oct. 05, 2021CAD ($)	Jun. 28, 2021USD ($)	Mar. 31, 2022USD ($)	Dec. 31, 2021USD ($)	Oct. 05, 2021$ / shares
Business Acquisition [Line Items]
Goodwill				$ 240,769,981	$ 240,376,634
Former Security Holders Of Meta [Member] | Meta [Member]
Business Acquisition [Line Items]
Equity method investment, ownership percentage			70.00%
Torchlight [Member] | Meta [Member]
Business Acquisition [Line Items]
Business combination total consideration transferred value			$ 358,000,000
Goodwill			$ 213,000,000
Nanotech Security Corp [Member]
Business Acquisition [Line Items]
Business acquisition effective date	Oct. 5, 2021	Oct. 5, 2021
Percentage of voting equity interests acquired	100.00%
Business acquisition share price | $ / shares						$ 1.25
Business combination total consideration transferred value	$ 72,100,000	$ 90.8
Goodwill	$ 27,000,000

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Due from related party, current	$ 10,314	$ 10,657
Lamda Guard Technologies Ltd LGTL [Member]
Related Party Transaction [Line Items]
Due to related party, current	$ 10,314	$ 10,657

Assets Held for Sale - Addition

Assets Held for Sale - Additional Information (Details)	3 Months Ended
	Mar. 31, 2022USD ($)	Mar. 31, 2021USD ($)	Dec. 31, 2021Well
Property, Plant and Equipment [Line Items]
Additional cost to ensure	$ 1,100,000
Revenues	2,974,695	$ 596,303
Orogrande Project property in West Texas [Member]
Property, Plant and Equipment [Line Items]
Drilling obligation year 2022 | Well			5
Drilling obligation year 2023 | Well			5
Hazel Project Property in Midland Basin [Member]
Property, Plant and Equipment [Line Items]
Decrease in preferred share liability	(3,500,000)
Impairment of Assets Held for Sale	3,500,000
Fair value of property	$ 0

Assets Held for Sale - Schedule

Assets Held for Sale - Schedule of Project Ownership (Details) - Orogrande Project, West Texas [Member]	Mar. 31, 2022
Schedule of Equity Method Investments [Line Items]
Revenue Interest	100.00%
Working Interest	100.00%
University Lands - Mineral Owner [Member]
Schedule of Equity Method Investments [Line Items]
Revenue Interest	20.00%
ORRI - Magdalena Royalties, LLC, an Entity Controlled by Gregory McCabe, Chairman [Member]
Schedule of Equity Method Investments [Line Items]
Revenue Interest	4.50%
ORRI - Unrelated Party [Member]
Schedule of Equity Method Investments [Line Items]
Revenue Interest	0.50%
Hudspeth Oil Corporation, a subsidiary of Meta Materials Inc. [Member]
Schedule of Equity Method Investments [Line Items]
Revenue Interest	49.88%
Working Interest	66.50%
Wolfbone Investments LLC, an Entity Controlled by Gregory McCabe, Chairman [Member]
Schedule of Equity Method Investments [Line Items]
Revenue Interest	18.75%
Working Interest	25.00%
Conversion by Note Holders in March, 2020 [Member]
Schedule of Equity Method Investments [Line Items]
Revenue Interest	4.50%
Working Interest	6.00%
Unrelated Party [Member]
Schedule of Equity Method Investments [Line Items]
Revenue Interest	1.88%
Working Interest	2.50%

Inventory - Summary of Inventor

Inventory - Summary of Inventory (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 291,191	$ 196,868
Supplies	17,349	8,886
Work in process	40,804	30,636
Finished goods	17,615	29,328
Total inventory	$ 366,959	$ 265,718

Property, Plant and Equipment_3

Property, Plant and Equipment, Net - Schedule of Property and Equipment (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 37,893,247	$ 34,127,218
Accumulated depreciation and impairment	(7,915,463)	(7,109,104)
Property, Plant and Equipment, Net	29,977,784	27,018,114
Land [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	476,152	469,317
Building [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 5,545,952	5,509,403
Property, Plant and Equipment, Useful Life	25 years
Computer equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 295,481	262,320
Computer equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Computer equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Computer software [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 281,667	277,717
Property, Plant and Equipment, Useful Life	1 year
Manufacturing equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 22,603,569	17,762,405
Manufacturing equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Manufacturing equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	2 years
Office furniture [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 584,447	525,961
Office furniture [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	7 years
Office furniture [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Enterprise Resource Planning software [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 214,224	211,149
Property, Plant and Equipment, Useful Life	5 years
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 1,346,287	236,251
Property, Plant and Equipment, Useful Life	5 years
Assets under construction [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 6,545,468	$ 8,872,695

Property, Plant and Equipment_4

Property, Plant and Equipment, Net - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation	$ 754,957	$ 361,773

Secured Convertible Debentures

Secured Convertible Debentures - Schedule of Secured Convertible Debentures (Details)	3 Months Ended
	Mar. 31, 2021USD ($)
Schedule Of Convertible Debt Current Roll Forward [Line Items]
Interest paid	$ (64,528)

Long-Term Debt - Summary of Lon

Long-Term Debt - Summary of Long Term Debt (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Long-term Debt	$ 3,284,585	$ 3,228,449
Long-term Debt, Current Maturities	363,654	491,278
Long-term Debt, Excluding Current Maturities	2,920,931	2,737,171
ACOA Business Development Program ("BDP") 2012 [Member]
Debt Instrument [Line Items]
Long-term Debt	68,497	80,390
ACOA Atlantic Innovation Fund ("AIF") 2015 [Member]
Debt Instrument [Line Items]
Long-term Debt	1,728,368	1,666,764
ACOA BDP 2018 [Member]
Debt Instrument [Line Items]
Long-term Debt	1,313,195	1,319,130
ACOA BDP 2019 [Member]
Debt Instrument [Line Items]
Long-term Debt	41,466	42,011
ACOA Regional Relief and Recovery Fund ("RRRF") 2020 [Member]
Debt Instrument [Line Items]
Long-term Debt	$ 133,059	$ 120,154

Long-Term Debt - Summary of L_2

Long-Term Debt - Summary of Long Term Debt (Parenthetical) (Details)	3 Months Ended
	Mar. 31, 2022USD ($)	Mar. 31, 2022CAD ($)	Mar. 31, 2021USD ($)	Mar. 31, 2022CAD ($)	Dec. 31, 2021CAD ($)
Debt Instrument [Line Items]
Revenues	$ 2,974,695		$ 596,303
ACOA Business Development Program ("BDP") 2012 [Member]
Debt Instrument [Line Items]
Long term debt maturity date	Jun. 1, 2023			Jun. 1, 2023
Debt annual principal repayments commencement date	Oct. 1, 2015	Oct. 1, 2015
Maximum contribution				$ 500,000
Principal periodic payment		$ 5,952
Frequency of payment	monthly	monthly
Amount drawn down				89,286	$ 107,143
ACOA Atlantic Innovation Fund ("AIF") 2015 [Member]
Debt Instrument [Line Items]
Debt annual principal repayments commencement date	Jun. 1, 2021	Jun. 1, 2021
Maximum contribution				3,000,000
Frequency of payment	Annual	Annual
Long Term debt cumulative drawdown amount				$ 2,924,615	2,924,615
ACOA Atlantic Innovation Fund ("AIF") 2015 [Member] | Gross Revenues Are Less Than Canadian Dollar 1,000,000 [Member]
Debt Instrument [Line Items]
Percentage of annual principal repayments	0.00%	0.00%
ACOA Atlantic Innovation Fund ("AIF") 2015 [Member] | Gross Revenues Are Less Than Canadian Dollar 1,000,000 [Member] | Minimum [Member]
Debt Instrument [Line Items]
Revenues		$ 1,000,000
ACOA Atlantic Innovation Fund ("AIF") 2015 [Member] | Gross Revenues Are Less Than Canadian Dollar 10,000,000 And Greater Than Canadian Dollar 1,000,000 [Member]
Debt Instrument [Line Items]
Percentage of annual principal repayments	5.00%	5.00%
Revenues		$ 10,000,000
ACOA Atlantic Innovation Fund ("AIF") 2015 [Member] | Gross Revenues Are Less Than Canadian Dollar 10,000,000 And Greater Than Canadian Dollar 1,000,000 [Member] | Maximum [Member]
Debt Instrument [Line Items]
Revenues		10,000,000
ACOA Atlantic Innovation Fund ("AIF") 2015 [Member] | Gross Revenue Are Greater Than Canadian Dollar 10,000,000 [Member]
Debt Instrument [Line Items]
Principal periodic payment		$ 500,000
Percentage of variable annual principal repayment	1.00%	1.00%
Revenues		$ 1,000,000
ACOA BDP 2018 [Member]
Debt Instrument [Line Items]
Long term debt maturity date	May 1, 2029			May 1, 2029
Debt annual principal repayments commencement date	Jun. 1, 2021	Jun. 1, 2021
Maximum contribution				$ 3,000,000
Principal periodic payment		$ 31,250
Frequency of payment	monthly	monthly
Deferred government assistance	$ 425,872
Amortization of deferred government assistance	$ 3,047		$ 36,020
Long Term debt cumulative drawdown amount				$ 2,687,500	2,781,250
ACOA BDP 2019 [Member]
Debt Instrument [Line Items]
Long term debt maturity date	May 1, 2027			May 1, 2027
Debt annual principal repayments commencement date	Jun. 1, 2021	Jun. 1, 2021
Maximum contribution				$ 100,000
Principal periodic payment		$ 1,400
Frequency of payment	monthly	monthly
Amount drawn down				$ 86,111	90,278
ACOA Regional Relief and Recovery Fund ("RRRF") 2020 [Member]
Debt Instrument [Line Items]
Long term debt maturity date	Apr. 1, 2026			Apr. 1, 2026
Debt annual principal repayments commencement date	Apr. 1, 2023	Apr. 1, 2023
Maximum contribution				$ 390,000
Principal periodic payment		$ 11,000
Frequency of payment	monthly	monthly
Amount drawn down				$ 390,000	$ 390,000

Capital Stock - Additional Info

Capital Stock - Additional Information (Details)		3 Months Ended
		Mar. 31, 2022$ / sharesshares	Mar. 31, 2021shares	Dec. 31, 2021$ / shares
Class of Stock [Line Items]
Common stock, shares authorized		1,000,000,000
Common stock, shares par value | $ / shares		$ 0.001		$ 0.001
Options exercised to purchase equal number of common shares		730,249
Prior to Completion of Torchlight RTO [Member] | Torch Light Conversion Ratio [Member]
Class of Stock [Line Items]
Common stock, coversion ratio		1.845
Prior to Completion of Torchlight RTO [Member] | Common Stock Shares Issued pre-Torchlight RTO [Member] | Torch Light Conversion Ratio [Member]
Class of Stock [Line Items]
Common stock, coversion ratio		1.845
Factor considered for common stock issuance		0.001
Common Stock [Member]
Class of Stock [Line Items]
Options exercised to purchase equal number of common shares	[1]	730,249	178,720
Warrant [Member]
Class of Stock [Line Items]
Warrants exercised to purchase common shares		1,988,617
Number of securities called by warrant		1,623,700
Difference shares withheld to cover exercise cost		364,917
[1]	Retroactively restated from the earliest period presented for the Torchlight RTO (“Reverse acquisition”) as described in Note 3

Capital Stock - Summary of Chan

Capital Stock - Summary of Changes in Warrant (Details) - Warrant [Member]	3 Months Ended
	Mar. 31, 2022USD ($)shares
Class of Warrant or Right [Line Items]
Balance, beginning of period, shares | shares	5,264,959
Balance, beginning of period | $	$ 6,957,974
Exercised, shares | shares	(1,988,617)
Exercised | $	$ (251,915)
Expired, Shares | shares	(692,462)
Expired | $	$ (101,156)
Balance, end of period, shares | shares	2,583,880
Balance, end of period | $	$ 6,604,903

Capital Stock - Summary of Ch_2

Capital Stock - Summary of Changes in Broker Warrant (Details) - Broker Warrants [Member]	3 Months Ended
	Mar. 31, 2022USD ($)shares
Class of Warrant or Right [Line Items]
Balance, beginning of period, shares | shares	13,887
Balance, beginning of period | $	$ 1,826
Expired, shares | shares	(13,887)
Expired | $	$ (1,826)

Share-Based Payments - Addition

Share-Based Payments - Additional Information (Details) - shares	3 Months Ended
	Mar. 31, 2022	Dec. 03, 2021
2015 Stock Option and Grant Plan [Member]
Shares reserved for future issuance		3,500,000
2018 Stock Option and Grant Plan [Member]
Shares reserved for future issuance		6,445,745
2021 Equity Incentive Plan [Member]
Shares reserved for future issuance		34,945,745
DSU Plan [Member]
Number of shares outstanding	3,647,026
Number of shares issued	0
Number of shares exercised	0
Number of shares expired	0

Share-Based Payments - Summary

Share-Based Payments - Summary of Stock-Based Compensation Expenses (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Restricted Stock Units (RSUs) [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 283,522
Employee Stock Option Plan [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	3,711,920	$ 426,794
Cost of Sales [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	50,653
Selling & Marketing | Restricted Stock Units (RSUs) [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	15,493
Selling & Marketing | Employee Stock Option Plan [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	4,393	11,269
General & Administrative | Restricted Stock Units (RSUs) [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	120,165
General & Administrative | Employee Stock Option Plan [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	3,283,469	243,890
Research & Development | Restricted Stock Units (RSUs) [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	97,211
Research & Development | Employee Stock Option Plan [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 424,058	$ 171,635

Share-Based Payments - Summar_2

Share-Based Payments - Summary of change in outstanding share RSUs (Details) - Restricted Stock Units (RSUs) [Member]	3 Months Ended
	Mar. 31, 2022$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, beginning of period, Number of RSUs | shares	300,000
Granted, Number of RSUs | shares	3,832,278
Outstanding, end of period, Number of RSUs | shares	4,132,278
Vested, end of period, Number of RSUs | shares	300,000
Outstanding, beginning of period, Weighted Average grant date fair value | $ / shares	$ 6.43
Granted, Weighted Average grant date fair value | $ / shares	1.71
Outstanding, end of period, Weighted Average grant date fair value | $ / shares	2.05
Vested, end of period, Weighted Average grant date fair value | $ / shares	$ 6.43

Share-Based Payments - Summar_3

Share-Based Payments - Summary of Change in Share Outstanding Options (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, beginning of period, Number of Options	21,404,641
Granted, Number of Options	6,839,449
Forfeited, Number of Options	(8,732)
Exercised, Number of Options	(730,249)
Outstanding, end of period, Number of Options	27,505,109	21,404,641
Exercisable, end of period	19,407,982	13,231,030
Outstanding, beginning of period, Weighted Average exercise price per stock option	$ 0.36
Granted, Weighted Average exercise price per stock option	2.02
Forfeited, Weighted Average exercise price per stock option	0.27
Exercised, Weighted Average exercise price per stock option	0.27
Outstanding, end of period, Weighted Average exercise price per stock option	0.78	$ 0.36
Exercisable, end of period	$ 0.73
Outstanding, Weighted Average exercise remaining contractual term (years)	5 years 4 months 2 days	7 years 4 months 2 days
Exercisable, Weighted Average exercise remaining contractual term (years)	7 years 3 months 21 days
Outstanding, Aggregate intrinsic value	$ 27,675,251	$ 56,924,556
Exercisable, Aggregate intrinsic value	$ 21,320,991

Share-Based Payments - Summar_4

Share-Based Payments - Summary of Stock Options Outstanding (Details) - shares	Mar. 31, 2022	Dec. 31, 2021
Schedule of Stock Options Outstanding [Line Items]
Number outstanding	27,505,109	21,404,641
Number exercisable	19,407,982	13,231,030
$0.27 [Member]
Schedule of Stock Options Outstanding [Line Items]
Number outstanding	18,328,548	19,067,529
Number exercisable	14,034,258	10,893,918
$0.12 [Member]
Schedule of Stock Options Outstanding [Line Items]
Number outstanding	518,112	518,112
Number exercisable	518,113	518,112
$0.15 [Member]
Schedule of Stock Options Outstanding [Line Items]
Number outstanding	369,000	369,000
Number exercisable	369,000	369,000
$2.00 [Member]
Schedule of Stock Options Outstanding [Line Items]
Number outstanding	1,075,000	1,075,000
Number exercisable	1,075,000	1,125,000
$1.00 [Member]
Schedule of Stock Options Outstanding [Line Items]
Number outstanding	375,000	375,000
Number exercisable	375,000	325,000
$3.47 [Member]
Schedule of Stock Options Outstanding [Line Items]
Number outstanding	200,000
Number exercisable	200,000
$7.96 [Member]
Schedule of Stock Options Outstanding [Line Items]
Number outstanding	300,000
Number exercisable	300,000
$1.97 [Member]
Schedule of Stock Options Outstanding [Line Items]
Number outstanding	1,894,111
Number exercisable	1,894,111
$1.58 [Member]
Schedule of Stock Options Outstanding [Line Items]
Number outstanding	4,445,338
Number exercisable	642,500

Share-Based Payments - Summar_5

Share-Based Payments - Summary of Stock Options Outstanding (Parenthetical) (Details) - $ / shares	Mar. 31, 2022	Dec. 31, 2021
Schedule Of Stock Options Outstanding [Line Items]
Exercise price	$ 0.78	$ 0.36
$0.27 [Member]
Schedule Of Stock Options Outstanding [Line Items]
Exercise price	0.27	0.27
$0.12 [Member]
Schedule Of Stock Options Outstanding [Line Items]
Exercise price	0.12	0.12
$0.15 [Member]
Schedule Of Stock Options Outstanding [Line Items]
Exercise price	0.15	0.15
$2.00 [Member]
Schedule Of Stock Options Outstanding [Line Items]
Exercise price	2	2
$1.00 [Member]
Schedule Of Stock Options Outstanding [Line Items]
Exercise price	1	1
$3.47 [Member]
Schedule Of Stock Options Outstanding [Line Items]
Exercise price	3.47	3.47
$7.96 [Member]
Schedule Of Stock Options Outstanding [Line Items]
Exercise price	7.96	7.96
$1.97 [Member]
Schedule Of Stock Options Outstanding [Line Items]
Exercise price	1.97	1.97
$1.58 [Member]
Schedule Of Stock Options Outstanding [Line Items]
Exercise price	$ 1.58	$ 1.58

Share-Based Payments - Summar_6

Share-Based Payments - Summary of Fair Value Grant Using Weighted-Average Assumptions (Details)	3 Months Ended
	Mar. 31, 2022$ / shares
Schedule Of Share Based Payment Award Stock Options Valuation Assumptions [Line Items]
Grant date fair value	$ 1.16
Weighted average expected volatility	87.00%
Weighted average risk-free interest rate	1.78%
Weighted average expected life of the options	5 years 5 months 4 days

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Deferred tax recovery	$ 0	$ 44,679

Income Taxes - Summary Of Defer

Income Taxes - Summary Of Deferred Tax Expense Benefit (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Deferred tax recovery	$ 0	$ 44,679

Net Loss Per Share - Summary Ba

Net Loss Per Share - Summary Basic and Diluted Net Loss Per Share (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Numerator:
Net loss	$ (18,434,541)	$ (44,158,519)
Denominator:
Weighted-average shares, basic	285,224,469	168,864,762
Weighted-average shares, diluted	285,224,469	168,864,762
Net loss per share
Basic	$ (0.06)	$ (0.26)
Diluted	$ (0.06)	$ (0.26)

Net Loss Per Share - Summary of

Net Loss Per Share - Summary of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	37,868,293	30,721,025
Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	27,505,109	24,264,957
Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,583,880	3,000,844
DSUs [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	3,647,026	3,455,224
RSUs [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	4,132,278

Additional Cash Flow Informat_3

Additional Cash Flow Information - Summary of Cash Flow, Operating Capital (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Increase (Decrease) in Operating Capital [Abstract]
Grants receivable	$ 146,950	$ 30,436
Inventory	(96,285)	126,939
Other receivables	(821,774)	(66,258)
Prepaid expenses	74,343	30,782
Other current assets	(417,054)	(13,208)
Trade payables	(5,062,908)	(11,694)
Due from (to) related party	(54,051)	(8,878)
Operating lease Right-of-use Asset	(56)
Operating lease liabilities	(76,022)
Total	$ (6,306,857)	$ 88,119

Fair value measurements - Summa

Fair value measurements - Summary of Fair Value of Financial Instruments (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Funding obligation	$ 286,182	$ 268,976
Operating lease liabilities	4,459,159	4,370,635
Long-term debt	3,284,585	3,228,449
Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Funding obligation	172,819	170,338
Operating lease liabilities	5,088,149	6,149,369
Long-term debt	$ 2,201,679	$ 2,303,648

Revenue - Additional Informatio

Revenue - Additional Information (Details)		3 Months Ended		12 Months Ended
		Mar. 31, 2022USD ($)SegmentCustomer	Mar. 31, 2021USD ($)Customer	Dec. 31, 2021USD ($)
Disaggregation of Revenue [Line Items]
Number of operating segment | Segment		1
Total revenue		$ 2,974,695	$ 596,303
Nanotech Security Corp [Member]
Disaggregation of Revenue [Line Items]
Development contract value				$ 41,500,000
Development contract period maximum				5 years
Contract revenue [Member]
Disaggregation of Revenue [Line Items]
Number of major customers | Customer		1	1
Total revenue	[1]	$ 2,706,568	$ 408,920
Contract revenue [Member] | One Customer [Member]
Disaggregation of Revenue [Line Items]
Total revenue		$ 2,668,144	$ 245,229
Contract revenue [Member] | Revenue Benchmark [Member] | Customer Concentration Risk [Member] | One Customer [Member]
Disaggregation of Revenue [Line Items]
Concentration risk, percentage		90.00%	41.00%
[1]	A portion of contract revenue represents previously recorded deferred revenue that was recognized as revenue after satisfaction of performance obligations either through passage of time or after completion of specific performance milestones.

Revenue - Summary of Revenue Di

Revenue - Summary of Revenue Disaggregated (Details) - USD ($)		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		$ 2,974,695	$ 596,303
Product sales [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		168,127	22,047
Contract revenue [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	[1]	2,706,568	408,920
Other development revenue [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		100,000	165,336
Development revenue [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		$ 2,806,568	$ 574,256
[1]	A portion of contract revenue represents previously recorded deferred revenue that was recognized as revenue after satisfaction of performance obligations either through passage of time or after completion of specific performance milestones.

Loss on financial instruments_3

Loss on financial instruments, net - Summary of (Loss) Gain on Financial Instruments, Net (Details)	3 Months Ended
	Mar. 31, 2021USD ($)
Derivative Instruments, Gain (Loss) [Line Items]
Loss on secured convertible debentures	$ (16,957,029)
Loss on unsecured convertible debentures	(4,076,448)
Gain (Loss) on derivative instruments, net	(40,004,921)
Bridge Loan [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on unsecured convertible promissory notes	(19,163,417)
Torchlight Notes [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on unsecured convertible promissory notes	$ 191,973

Leases - Additional Information

Leases - Additional Information (Details)	Feb. 25, 2022ft²	Mar. 31, 2022USD ($)	Dec. 31, 2021USD ($)
Operating lease right-of-use assets		$ 6,230,735	$ 6,278,547
Operating lease liability		4,459,159
Burnaby [Member]
Lease, term of contract	2 years 11 months
Land under lease | ft²	1,994
Operating lease right-of-use assets		146,822
Operating lease liability		$ 146,822
Lease commencement date	Jun. 1, 2022

Leases - Summary of Operating L

Leases - Summary of Operating Lease Expense (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Lease, Cost [Abstract]
Operating lease expense	$ 426,428	$ 45,437
Short term lease expense	81,638	26,150
Variable and other lease expense	58,817	12,710
Total	$ 566,883	$ 84,297

Leases - Summary of Future Mini

Leases - Summary of Future Minimum Payments Under Non-cancelable Operating Lease Obligations (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
Remainder of 2021	$ 819,471
2022	1,230,530
2023	1,235,980
2024	1,114,417
2025	961,099
Thereafter	2,987,718
Total minimum lease payments	8,349,215
Less: interest	(3,890,056)
Present value of net minimum lease payments	4,459,159
Less: current portion of lease liabilities	(782,901)	$ (663,861)
Total long-term lease liabilities	$ 3,676,258	$ 3,706,774

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details)	Mar. 18, 2021USD ($)	Apr. 30, 2020USD ($)	Mar. 31, 2022USD ($)Patent	Mar. 31, 2021USD ($)	Mar. 31, 2022EUR (€)	Dec. 31, 2021USD ($)	Jan. 29, 2021EUR (€)	Jan. 29, 2021CAD ($)	Dec. 31, 2018USD ($)
Contractual obligation			$ 286,182			$ 268,976
Cooperation Framework Agreement CFA [Member] | Letter of Credit [Member]
Line of credit facility | €					€ 275,000
Cooperation Framework Agreement CFA [Member] | Letter of Credit [Member] | Restricted Cash [Member]
Debt instrument, collateral amount								$ 1,000,000
Co Operation Agreement [Member]
Contractual obligation			4,000,000
Covestro Deutschland AG Covestro [Member] | Cooperation Framework Agreement CFA [Member] | Letter of Credit [Member]
Cash transferred from restricted cash to cash and cash equivalents | €					€ 325,000
Datalog LWT, Inc. d/b/a Cordax Evaluation Technologies [Member]
Monetary relief, sought value	$ 104,500.01
Toronto Dominion Bank TD [Member] | Covestro Deutschland AG Covestro [Member] | Cooperation Framework Agreement CFA [Member] | Letter of Credit [Member]
Line of credit facility, maximum borrowing capacity | €							€ 600,000
RBC [Member] | Satair [Member] | Letter of Credit [Member]
Line of credit facility, maximum borrowing capacity									$ 500,000
Line of credit facility			$ 0
Debt instrument expiry date			Oct. 5, 2021
Tool Failure during Drilling Activities [Member] | Datalog LWT, Inc. d/b/a Cordax Evaluation Technologies [Member]
Estimated recovery amount on the costs incurred of tool failure		$ 1,400,000
Breach of Contract [Member] | Cordax Evaluation Technologies [Member]
Monetary relief, sought value		$ 104,500
Nanotech Security Corp [Member]
Contractual obligation			$ 1,023,144
Royalties			$ 0	$ 0
Number of patents | Patent			6
Remainder of 2022			$ 976,157
2023			43,872
2024			$ 3,115
Nanotech Security Corp [Member] | Simon Fraser University [Member]
Sales royalty			3.00%
Royalties			$ 0	$ 296
Prepaid royalties			$ 197,016
Revenue from Specific Customer [Member] | Nanotech Security Corp [Member]
Percentage share of revenue related to patents			10.00%
Number of years revenue shared			2 years
Other Revenue [Member] | Nanotech Security Corp [Member]
Number of years revenue shared			5 years
Other Revenue [Member] | Maximum [Member] | Nanotech Security Corp [Member]
Percentage share of revenue related to patents			6.00%
Other Revenue [Member] | Minimum [Member] | Nanotech Security Corp [Member]
Percentage share of revenue related to patents			3.00%

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - USD ($) $ in Millions	Apr. 05, 2022	Apr. 01, 2022	Mar. 31, 2022
Subsequent Event [Line Items]
Exercise of stock options, Shares			730,249
Subsequent Event [Member]
Subsequent Event [Line Items]
Exercise of stock options, Shares		10,310
Subsequent Event [Member] | Plasma App Ltd. [Member]
Subsequent Event [Line Items]
Stock transaction value	$ 20