Common Stock | Note 11 - Common Stock The Company issued 1,261,566 5,694,499 125,000 The Company issued 2,477,200 1,941,000 The Company cancelled 15,000 On March 7, 2022 the Company issued 5,000 5.00 On March 23, 2022, the Company issued 10,000 3.66 On March 23, 2022, the Company issued an aggregate of 25,000 2.85 On April 14, 2022, the Company issued 5,000 5.00 On April 28, 2022, the Company issued 50,000 2.61 On April 28, 2022, the Company issued 5,000 2.56 On April 28, 2022, the Company issued 20,000 2.51 On May 10, 2022, the Company issued 5,000 5.00 On May 10, 2022, the Company issued 5,000 3.66 On May 12, 2022, the Company issued 20,000 2.03 On July 5, 2022, the Company issued 5,000 5.00 On July 5, 2022, the Company issued an aggregate of 25,000 2.85 On August 3, 2022, the Company issued 50,000 1.22 On October 19, 2022, the Company issued an aggregate of 25,000 2.85 On October 19, 2022, the Company issued 20,000 1.70 On October 19, 2022, the Company issued 10,000 3.66 On October 19, 2022, the Company issued 5,000 2.56 On October 24, 2022, the Company issued 100,000 2.00 On October 24, 2022, the Company issued 70,000 3.00 On November 3, 2022, the Company issued 20,000 3.00 On November 3, 2022, the Company issued 5,000 1.70 On November 3, 2022, the Company issued 25,000 1.22 On November 3, 2022, the Company issued 200,000 0.74 On November 4, 2022, the Company issued an aggregate of 1,887,500 4.00 4.00 In connection with the closing of the private placement on November 4, 2022, the Company issued 91,875 4.00 367,500 On November 21, 2022, the Company issued 1,000,000 4.00 4.00 On January 19, 2023, the Company issued 5,000 1.70 On January 19, 2023 , 25,000 2.85 On January 19, 2023, the Company issued 125,000 1.44 On January 19, 2023, the Company issued 16,313 5.19 On January 19, 2023, the Company issued 40,000 4.15 On February 7, 2023, the Company issued 1,721,766 1.75 On February 7, 2023, the Company issued 25,000 1.22 On February 15, 2023, the Company issued 500,000 2.00 1,000,000 On February 22, 2023, the Company issued 500,000 2.00 1,000,000 On February 28, 2023, the Company issued 150,000 0.74 On February 28, 2023, the Company issued 7,500 2.47 On March 17, 2023, the Company issued 2,465,816 0.863 2,128,000 On April 18, 2023, the Company issued 20,000 3.00 On April 24, 2023, the Company issued 70,000 1.64 On July 17, 2023, the Company issued 121,422 1.75 On August 3, 2023, the Company issued 260,000 3.00 On August 3, 2023, the Company issued 12,500 2.47 On September 5, 2023, the Company issued 2,500 2.47 70,000 1.64 On September 14, 2023, two officers of the Company exercised an aggregate of 180,400 90,898 89,502 As of November 30, 2023 there were 52,545,350 Share Purchase Warrants A continuity schedule of outstanding share purchase warrants as at November 30, 2023, and the changes during the periods, is as follows: Schedule of outstanding share purchase warrants Number of Weighted Average Balance, February 28, 2020 — $ — Issued in Connection with October 2020 Offering 488,500 $ 2.10 Issued in connection with January 2021 Offering 1,604,334 $ 3.00 Exercised (25,000 ) $ 2.00 Balance, February 28, 2021 2,067,834 $ 2.80 Exercised (221,666 ) $ 2.44 Balance, February 28, 2022 1,846,168 $ 2.84 Issued in Connection with August 2022 Offering 3,478,261 $ 1.75 Expired (50,000 ) $ 3.00 Issued in Connection with August 2022 Offering 168,000 $ 1.75 Issued in Connection with September 2022 Offering 350,000 $ 5.00 Issued in Connection with November 2022 Offering 28,312 $ 8.22 Issued in Connection with November 2022 Offering 10,000 $ 6.70 Exercised (100,000 ) $ 2.00 Exercised (90,000 ) $ 3.00 Issued in Connection with October 2022 Offering 125,000 $ 5.00 Cashless Exercised (3,478,261 ) $ 1.75 Balance, February 28, 2023 2,287,480 $ 3.32 Exercised (20,000 ) $ 3.00 Expired (188,500 ) $ 2.00 Exercised (260,000 ) $ 3.00 Expired (1,137,668 ) $ 3.00 Cashless Exercised (168,000 ) $ 1.75 Balance, November 30, 2023 513,312 $ 5.21 During Fiscal 2023 and Fiscal 2022, we received cash proceeds totalling $ 470,000 539,998 On August 9, 2022, the Company entered into a Securities Purchase Agreement with an investor (the Investor), pursuant to which the Company issued to the Investor a common stock purchase warrant (the Warrant) to acquire 3,478,261 On February 6, 2023, the Investor exercised the Warrant on the cashless exercise basis for all 3,478,261 1,721,766 On October 19, 2022, the Companys board of directors authorized a six-month extension to the expiry date of the common stock purchase warrants that the Company issued on October 19, 2020 2.00 April 19, 2023 50,000 3.00 On November 3, 2022, the Company issued 350,000 350,000 5.00 September 19, 2024 On November 29, 2022, the Company issued 168,000 168,000 1.75 August 9, 2027 On November 29, 2022, the Company issued 28,312 28,312 8.22 November 4, 2025 On November 29, 2022, the Company issued 10,000 10,000 6.70 November 21, 2025 During the quarter ended November 30, 2022, the Company received $ 470,000 100,000 2.00 90,000 3.00 On January 13, 2023, the Companys board of directors has authorized a six-month extension to the expiry date of the common stock purchase warrants that the Company issued on January 13, 2021 3.00 July 13, 2023 On February 28, 2023, the Company issued 125,000 common stock purchase warrants to purchase 125,000 5.00 October 1, 2024 On April 18, 2023 , the Company received $ 60,000 20,000 3.00 On April 19, 2023, 188,500 2.00 On July 13, 2023, the Company received $ 780,000 260,000 3.00 On July 13, 2023, 1,137,668 3.00 On July 17, 2023, Benchmark 168,000 121,422 A summary of share purchase warrants outstanding and exercisable as at November 30, 2023 is as follows: Schedule of share purchase warrants outstanding and exercisable Number of Warrants Remaining Contractual Exercise Price Outstanding Life (Years) Expiry Date $ 5.00 350,000 0.81 September 19, 2024 $ 8.22 28,312 1.93 November 4, 2025 $ 6.70 10,000 1.98 November 21, 2025 $ 5.00 125,000 0.84 October 1,2024 $ 5.21 513,312 Stock Options On December 28, 2021, the Company granted an aggregate of 4,545,000 8.00 The fair value of these stock options was estimated at the date of grant, using the Black-Scholes Option Valuation Model, with the following weighted average assumptions: Schedule of valuation assumptions November 30, February 28, 2023 Expected Risk-Free Interest Rate 1.06 % 1.06 % Expected Volatility 15.27 % 15.27 % Expected Life in Years 5.0 5.0 Expected Dividend Yield — — Weighted-Average Grant Date Fair Value $ 6.46 $ 6.46 On July 28, 2023, the Company granted an aggregate of 2,648,500 4.62 The fair value of these stock options was estimated at the date of grant, using the Black-Scholes Option Valuation Model, with the following weighted average assumptions: Schedule of valuation assumptions November 30, February 28, 2023 Expected Risk-Free Interest Rate 5.37 % Expected Volatility 25.48 % Expected Life in Years 5.0 Expected Dividend Yield — — Weighted-Average Grant Date Fair Value $ 4.58 $ A continuity schedule of outstanding stock options as at November 30, 2023, and the changes during the nine months periods, is as follows: Schedule of stock option activity Number of Stock Options Exercise Price Balance, February 28, 2023 2,142,600 $ 3.84 Vested — — Balance, May 31, 2023 2,142,600 $ 3.84 Stock Options Grant - July 28, 2023 2,648,500 4.62 Vested – July 28, 2023 (529,700 ) 4.62 Exercised (180,400 ) 3.84 Balance, November 30, 2023 4,081,000 $ 4.24 The table below sets forth the number of issued shares and cash received upon exercise of stock options: Schedule of number of issued shares and cash received upon exercise of stock options November 30, 2023 February 28, 2023 Number of Options Exercised on Forfeiture Basis 89,502 — Number of Options Exercised on Cash Basis — — Total Number of Options Exercised 89,502 — Number of Shares Issued on Cash Exercise — — Number of Shares Issued on Forfeiture Basis 90,898 — Total Number of Shares Issued Upon Exercise of Options 90,898 — Cash Received from Exercise of Stock Options $ — $ — Total Intrinsic Value of Options Exercised $ — $ — A continuity schedule of outstanding unvested stock options at November 30, 2023, and the changes during the nine months periods, is as follows Schedule of unvested restricted stock Number of Unvested Weighted Average Stock Options Grant Date Fair Value Balance, February 28, 2023 2,142,600 $ 6.46 Vested — — Cancelled / Forfeited — — Balance, May 31, 2023 2,142,600 $ 6.46 Stock Options Grant - July 28, 2023 2,648,500 $ 4.58 Vested – July 28, 2023 (529,700 ) $ 4.58 Exercised (180,400 ) $ 6.46 Balance, November 30, 2023 4,081,000 $ 5.48 As at November 30, 2023, the aggregate intrinsic value of the outstanding stock options granted on 28 December 2021 was estimated at $1,398,306 as the current price as of November 30, 2023 is $4.23 while the aggregate intrinsic value of the outstanding stock options granted on 28 July, 2023 is 0 as the current price as of November, 30, 2023 is lower than the strike price. A summary of stock options outstanding and exercisable as at November 30, 2023 is as follows: Schedule of stock options Options Outstanding Options Exercisable Range of Exercise Prices Outstanding at November 30, 2023 Exercise Price Weighted Average Remaining Contractual Term (Years) Exercisable at November 30, 2023 Exercise Price Weighted Average Remaining Contractual Term (Years) $ 7.00 9.00 2,142,600 $ 3.84 2.08 1,442,800 $ 3.84 2.08 $ 4.00 5.00 2,118,800 $ 4.62 3.66 529,700 $ 4.62 3.67 4,261,400 1,972,500 |