UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
6-K
REPORT
OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For
the month of May 2024
Commission
File Number: 001-40688
DRAGANFLY INC.
(Name of registrant)
235
103rd St. E.
Saskatoon,
Saskatchewan S7N 1Y8
Canada
(Address
of principal executive office)
Indicate
by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
|
Draganfly Inc. |
|
(Registrant) |
|
|
Date:
May 14, 2024 |
/s/ Paul Sun |
|
Name: |
Paul
Sun |
|
Title: |
Chief
Financial Officer |
Form
6-K Exhibit Index
false
Q1
--12-31
6-K
2024-03-31
DRAGANFLY INC.
2024
0001786286
0001786286
2024-01-01
2024-03-31
0001786286
2024-03-31
0001786286
2023-12-31
0001786286
2023-01-01
2023-03-31
0001786286
ifrs-full:IssuedCapitalMember
2022-12-31
0001786286
ifrs-full:ReserveOfSharebasedPaymentsMember
2022-12-31
0001786286
ifrs-full:RetainedEarningsMember
2022-12-31
0001786286
ifrs-full:ReserveOfGainsAndLossesFromInvestmentsInEquityInstrumentsMember
2022-12-31
0001786286
ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember
2022-12-31
0001786286
2022-12-31
0001786286
ifrs-full:IssuedCapitalMember
2023-03-31
0001786286
ifrs-full:ReserveOfSharebasedPaymentsMember
2023-03-31
0001786286
ifrs-full:RetainedEarningsMember
2023-03-31
0001786286
ifrs-full:ReserveOfGainsAndLossesFromInvestmentsInEquityInstrumentsMember
2023-03-31
0001786286
ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember
2023-03-31
0001786286
2023-03-31
0001786286
ifrs-full:IssuedCapitalMember
2023-12-31
0001786286
ifrs-full:ReserveOfSharebasedPaymentsMember
2023-12-31
0001786286
ifrs-full:RetainedEarningsMember
2023-12-31
0001786286
ifrs-full:ReserveOfGainsAndLossesFromInvestmentsInEquityInstrumentsMember
2023-12-31
0001786286
ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember
2023-12-31
0001786286
ifrs-full:IssuedCapitalMember
2023-01-01
2023-03-31
0001786286
ifrs-full:ReserveOfSharebasedPaymentsMember
2023-01-01
2023-03-31
0001786286
ifrs-full:RetainedEarningsMember
2023-01-01
2023-03-31
0001786286
ifrs-full:ReserveOfGainsAndLossesFromInvestmentsInEquityInstrumentsMember
2023-01-01
2023-03-31
0001786286
ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember
2023-01-01
2023-03-31
0001786286
ifrs-full:IssuedCapitalMember
2023-04-01
2023-12-31
0001786286
ifrs-full:ReserveOfSharebasedPaymentsMember
2023-04-01
2023-12-31
0001786286
ifrs-full:RetainedEarningsMember
2023-04-01
2023-12-31
0001786286
ifrs-full:ReserveOfGainsAndLossesFromInvestmentsInEquityInstrumentsMember
2023-04-01
2023-12-31
0001786286
ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember
2023-04-01
2023-12-31
0001786286
2023-04-01
2023-12-31
0001786286
ifrs-full:IssuedCapitalMember
2024-01-01
2024-03-31
0001786286
ifrs-full:ReserveOfSharebasedPaymentsMember
2024-01-01
2024-03-31
0001786286
ifrs-full:RetainedEarningsMember
2024-01-01
2024-03-31
0001786286
ifrs-full:ReserveOfGainsAndLossesFromInvestmentsInEquityInstrumentsMember
2024-01-01
2024-03-31
0001786286
ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember
2024-01-01
2024-03-31
0001786286
ifrs-full:IssuedCapitalMember
2024-03-31
0001786286
ifrs-full:ReserveOfSharebasedPaymentsMember
2024-03-31
0001786286
ifrs-full:RetainedEarningsMember
2024-03-31
0001786286
ifrs-full:ReserveOfGainsAndLossesFromInvestmentsInEquityInstrumentsMember
2024-03-31
0001786286
ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember
2024-03-31
0001786286
DPRO:DragonflyInnovationsIncMember
2024-01-01
2024-03-31
0001786286
DPRO:DraganflyInnovationsUSAIncMember
2024-01-01
2024-03-31
0001786286
DPRO:DronelogicsSystemsIncMember
2024-01-01
2024-03-31
0001786286
DPRO:InventoryMember
2024-01-01
2024-03-31
0001786286
DPRO:InventoryMember
2023-01-01
2023-03-31
0001786286
DPRO:PublicCompanySharesMember
2024-03-31
0001786286
DPRO:PrivateCompanySharesMember
2024-03-31
0001786286
DPRO:PubliclyListedCompanyMember
2024-01-01
2024-03-31
0001786286
DPRO:PrivateCompanyMember
2024-01-01
2024-03-31
0001786286
ifrs-full:ComputerEquipmentMember
2022-12-31
0001786286
DPRO:FurnitureAndEquipmentMember
2022-12-31
0001786286
ifrs-full:LeaseholdImprovementsMember
2022-12-31
0001786286
ifrs-full:VehiclesMember
2022-12-31
0001786286
ifrs-full:ComputerEquipmentMember
2023-01-01
2023-12-31
0001786286
DPRO:FurnitureAndEquipmentMember
2023-01-01
2023-12-31
0001786286
ifrs-full:LeaseholdImprovementsMember
2023-01-01
2023-12-31
0001786286
ifrs-full:VehiclesMember
2023-01-01
2023-12-31
0001786286
2023-01-01
2023-12-31
0001786286
ifrs-full:ComputerEquipmentMember
2023-12-31
0001786286
DPRO:FurnitureAndEquipmentMember
2023-12-31
0001786286
ifrs-full:LeaseholdImprovementsMember
2023-12-31
0001786286
ifrs-full:VehiclesMember
2023-12-31
0001786286
ifrs-full:ComputerEquipmentMember
2024-01-01
2024-03-31
0001786286
DPRO:FurnitureAndEquipmentMember
2024-01-01
2024-03-31
0001786286
ifrs-full:LeaseholdImprovementsMember
2024-01-01
2024-03-31
0001786286
ifrs-full:VehiclesMember
2024-01-01
2024-03-31
0001786286
ifrs-full:ComputerEquipmentMember
2024-03-31
0001786286
DPRO:FurnitureAndEquipmentMember
2024-03-31
0001786286
ifrs-full:LeaseholdImprovementsMember
2024-03-31
0001786286
ifrs-full:VehiclesMember
2024-03-31
0001786286
ifrs-full:BuildingsMember
2022-12-31
0001786286
ifrs-full:LandMember
2022-12-31
0001786286
ifrs-full:BuildingsMember
2023-01-01
2023-12-31
0001786286
ifrs-full:LandMember
2023-01-01
2023-12-31
0001786286
ifrs-full:BuildingsMember
2023-12-31
0001786286
ifrs-full:LandMember
2023-12-31
0001786286
ifrs-full:BuildingsMember
2024-01-01
2024-03-31
0001786286
ifrs-full:LandMember
2024-01-01
2024-03-31
0001786286
ifrs-full:BuildingsMember
2024-03-31
0001786286
ifrs-full:LandMember
2024-03-31
0001786286
ifrs-full:LandMember
DPRO:LeaseOneMember
2023-01-01
2023-12-31
0001786286
ifrs-full:BuildingsMember
DPRO:LeaseTwoMember
2023-01-01
2023-12-31
0001786286
DPRO:LeaseOneFacilitiesMember
2024-01-01
2024-03-31
0001786286
DPRO:LeaseTwoFacilitiesMember
2024-01-01
2024-03-31
0001786286
DPRO:LeaseThreeFacilitiesMember
2024-01-01
2024-03-31
0001786286
DPRO:LeaseFourFacilitiesMember
2024-01-01
2024-03-31
0001786286
ifrs-full:BottomOfRangeMember
2024-03-31
0001786286
ifrs-full:TopOfRangeMember
2024-03-31
0001786286
ifrs-full:NotLaterThanOneYearMember
2024-03-31
0001786286
ifrs-full:LaterThanOneYearAndNotLaterThanThreeYearsMember
2024-03-31
0001786286
ifrs-full:LaterThanFourYearsAndNotLaterThanFiveYearsMember
2024-03-31
0001786286
DPRO:CanadaEmergencyBusinessAccountMember
2024-03-31
0001786286
DPRO:CanadaEmergencyBusinessAccountMember
2023-12-31
0001786286
DPRO:CanadaEmergencyBusinessAccountMember
2024-01-01
2024-03-31
0001786286
DPRO:CanadaEmergencyBusinessAccountLoanMember
2024-03-31
0001786286
DPRO:CanadaEmergencyBusinessAccountLoanMember
2023-12-31
0001786286
DPRO:CanadaEmergencyBusinessAccountLoanMember
2024-01-01
2024-03-31
0001786286
DPRO:VehicleLoanMember
2024-03-31
0001786286
DPRO:VehicleLoanMember
2023-12-31
0001786286
DPRO:VehicleLoanMember
2024-01-01
2024-03-31
0001786286
DPRO:CommonStock1Member
2024-01-01
2024-03-31
0001786286
DPRO:PrefundedWarrantsMember
2024-03-31
0001786286
DPRO:CommonSharesMember
2024-01-01
2024-03-31
0001786286
ifrs-full:WarrantsMember
2024-01-01
2024-03-31
0001786286
DPRO:CommonStock1Member
2023-01-01
2023-12-31
0001786286
DPRO:CommonSharesMember
2023-01-01
2023-12-31
0001786286
DPRO:CommonSharesMember
2023-12-31
0001786286
DPRO:StockOptionsMember
2024-01-01
2024-03-31
0001786286
DPRO:StockOptionsMember
2023-01-01
2023-03-31
0001786286
DPRO:RestrictedStockUnitsMember
2024-01-01
2024-03-31
0001786286
DPRO:RestrictedStockUnitsMember
2023-01-01
2023-03-31
0001786286
ifrs-full:WarrantsMember
2024-01-01
2024-03-31
0001786286
DPRO:BrokerWarrantsMember
2024-01-01
2024-03-31
0001786286
DPRO:ExercisePriceOneMember
DPRO:IncentiveShareCompensationPlanMember
2024-01-01
2024-03-31
0001786286
DPRO:ExercisePriceOneMember
DPRO:IncentiveShareCompensationPlanMember
2024-03-31
0001786286
DPRO:ExercisePriceTwoMember
DPRO:IncentiveShareCompensationPlanMember
2024-01-01
2024-03-31
0001786286
DPRO:ExercisePriceTwoMember
DPRO:IncentiveShareCompensationPlanMember
2024-03-31
0001786286
DPRO:ExercisePriceThreeMember
DPRO:IncentiveShareCompensationPlanMember
2024-01-01
2024-03-31
0001786286
DPRO:ExercisePriceThreeMember
DPRO:IncentiveShareCompensationPlanMember
2024-03-31
0001786286
DPRO:ExercisePriceFourMember
DPRO:IncentiveShareCompensationPlanMember
2024-01-01
2024-03-31
0001786286
DPRO:ExercisePriceFourMember
DPRO:IncentiveShareCompensationPlanMember
2024-03-31
0001786286
DPRO:ExercisePriceFiveMember
DPRO:IncentiveShareCompensationPlanMember
2024-01-01
2024-03-31
0001786286
DPRO:ExercisePriceFiveMember
DPRO:IncentiveShareCompensationPlanMember
2024-03-31
0001786286
DPRO:ExercisePriceSixMember
DPRO:IncentiveShareCompensationPlanMember
2024-01-01
2024-03-31
0001786286
DPRO:ExercisePriceSixMember
DPRO:IncentiveShareCompensationPlanMember
2024-03-31
0001786286
DPRO:ExercisePriceSevenMember
DPRO:IncentiveShareCompensationPlanMember
2024-01-01
2024-03-31
0001786286
DPRO:ExercisePriceSevenMember
DPRO:IncentiveShareCompensationPlanMember
2024-03-31
0001786286
DPRO:ExercisePriceEightMember
DPRO:IncentiveShareCompensationPlanMember
2024-01-01
2024-03-31
0001786286
DPRO:ExercisePriceEightMember
DPRO:IncentiveShareCompensationPlanMember
2024-03-31
0001786286
DPRO:ExercisePriceNineMember
DPRO:IncentiveShareCompensationPlanMember
2024-01-01
2024-03-31
0001786286
DPRO:ExercisePriceNineMember
DPRO:IncentiveShareCompensationPlanMember
2024-03-31
0001786286
DPRO:ExercisePriceTenMember
DPRO:IncentiveShareCompensationPlanMember
2024-01-01
2024-03-31
0001786286
DPRO:ExercisePriceTenMember
DPRO:IncentiveShareCompensationPlanMember
2024-03-31
0001786286
DPRO:ExercisePriceElevenMember
DPRO:IncentiveShareCompensationPlanMember
2024-01-01
2024-03-31
0001786286
DPRO:ExercisePriceElevenMember
DPRO:IncentiveShareCompensationPlanMember
2024-03-31
0001786286
DPRO:IncentiveShareCompensationPlanMember
2024-03-31
0001786286
DPRO:RestrictedStockUnitsMember
2022-12-31
0001786286
DPRO:RestrictedStockUnitsMember
2023-01-01
2023-12-31
0001786286
DPRO:RestrictedStockUnitsMember
2023-12-31
0001786286
DPRO:RestrictedStockUnitsMember
2024-03-31
0001786286
ifrs-full:WarrantsMember
2022-12-31
0001786286
ifrs-full:WarrantsMember
2023-01-01
2023-12-31
0001786286
ifrs-full:WarrantsMember
2023-12-31
0001786286
ifrs-full:WarrantsMember
2024-03-31
0001786286
DPRO:Range1Member
2024-01-01
2024-03-31
0001786286
DPRO:Range1Member
2024-03-31
0001786286
DPRO:Range1Member
2023-12-31
0001786286
DPRO:Range2Member
2024-01-01
2024-03-31
0001786286
DPRO:Range2Member
2024-03-31
0001786286
DPRO:Range2Member
2023-12-31
0001786286
DPRO:Range3Member
2024-01-01
2024-03-31
0001786286
DPRO:Range3Member
2024-03-31
0001786286
DPRO:Range3Member
2023-12-31
0001786286
DPRO:Range4Member
2024-01-01
2024-03-31
0001786286
DPRO:Range4Member
2024-03-31
0001786286
DPRO:Range4Member
2023-12-31
0001786286
ifrs-full:WarrantsMember
2024-01-01
2024-03-31
0001786286
ifrs-full:WarrantsMember
2023-01-01
2023-12-31
0001786286
ifrs-full:WarrantsMember
ifrs-full:BottomOfRangeMember
2024-01-01
2024-03-31
0001786286
ifrs-full:WarrantsMember
ifrs-full:TopOfRangeMember
2024-01-01
2024-03-31
0001786286
ifrs-full:WarrantsMember
2022-12-31
0001786286
ifrs-full:WarrantsMember
2023-12-31
0001786286
ifrs-full:WarrantsMember
2024-03-31
0001786286
DPRO:WarrantOneMember
2024-01-01
2024-03-31
0001786286
DPRO:WarrantOneMember
2024-03-31
0001786286
DPRO:WarrantTwoMember
2024-01-01
2024-03-31
0001786286
DPRO:WarrantTwoMember
2024-03-31
0001786286
DPRO:WarrantThreeMember
2024-01-01
2024-03-31
0001786286
DPRO:WarrantThreeMember
2024-03-31
0001786286
DPRO:WarrantFourMember
2024-01-01
2024-03-31
0001786286
DPRO:WarrantFourMember
2024-03-31
0001786286
DPRO:WarrantFiveMember
2024-01-01
2024-03-31
0001786286
DPRO:WarrantFiveMember
2024-03-31
0001786286
DPRO:WarrantSixMember
2024-01-01
2024-03-31
0001786286
DPRO:WarrantSixMember
2024-03-31
0001786286
DPRO:DronesMember
2024-01-01
2024-03-31
0001786286
DPRO:VitalMember
2024-01-01
2024-03-31
0001786286
DPRO:CorporatesMember
2024-01-01
2024-03-31
0001786286
DPRO:DronesMember
2023-01-01
2023-03-31
0001786286
DPRO:VitalMember
2023-01-01
2023-03-31
0001786286
DPRO:CorporatesMember
2023-01-01
2023-03-31
0001786286
country:CA
2024-03-31
0001786286
country:CA
2023-03-31
0001786286
country:US
2024-03-31
0001786286
country:US
2023-03-31
0001786286
country:CA
2024-01-01
2024-03-31
0001786286
country:CA
2023-01-01
2023-03-31
0001786286
country:US
2024-01-01
2024-03-31
0001786286
country:US
2023-01-01
2023-03-31
0001786286
DPRO:CEOAndDirectorMember
2024-01-01
2024-03-31
0001786286
DPRO:CEOAndDirectorMember
2023-01-01
2023-03-31
0001786286
DPRO:CEOMember
2024-01-01
2024-03-31
0001786286
DPRO:CEOMember
2023-01-01
2023-03-31
0001786286
DPRO:PresidentAndDirectorMember
2024-01-01
2024-03-31
0001786286
DPRO:PresidentAndDirectorMember
2023-01-01
2023-03-31
0001786286
ifrs-full:OtherRelatedPartiesMember
2024-01-01
2024-03-31
0001786286
ifrs-full:OtherRelatedPartiesMember
2023-01-01
2023-03-31
0001786286
ifrs-full:Level1OfFairValueHierarchyMember
2024-03-31
0001786286
ifrs-full:Level3OfFairValueHierarchyMember
2024-03-31
0001786286
ifrs-full:Level1OfFairValueHierarchyMember
2023-12-31
0001786286
ifrs-full:Level3OfFairValueHierarchyMember
2023-12-31
0001786286
ifrs-full:HistoricalVolatilityForSharesMeasurementInputMember
2024-01-01
2024-03-31
0001786286
ifrs-full:HistoricalVolatilityForSharesMeasurementInputMember
2023-01-01
2023-12-31
0001786286
DPRO:WarrantsTransactionMember
DPRO:SecuritiesPurchaseAgreementMember
2024-05-01
2024-05-01
0001786286
DPRO:WarrantsTransactionMember
DPRO:SecuritiesPurchaseAgreementMember
2024-05-01
0001786286
DPRO:WarrantsTransactionMember
DPRO:AmendmentAgreementMember
2024-05-01
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
iso4217:CAD
xbrli:shares
iso4217:CAD
xbrli:pure
Exhibit
99.1
![](https://www.sec.gov/Archives/edgar/data/1786286/000149315224019311/ex99-1_001.jpg)
Draganfly
Inc.
Condensed
Consolidated Interim Financial Statements – Unaudited
For
the Three Months Ended March 31, 2024
(Expressed
in Canadian Dollars)
Draganfly
Inc.
Condensed
Consolidated Interim Statements of Financial Position - Unaudited
Expressed
in Canadian Dollars
| |
| |
| | | |
| | |
As at | |
Notes | |
March 31, 2024 | | |
December 31, 2023 | |
| |
| |
| | |
| |
ASSETS | |
| |
| | | |
| | |
Current Assets | |
| |
| | | |
| | |
Cash and cash equivalents | |
4 | |
$ | 4,339,736 | | |
$ | 3,093,612 | |
Receivables | |
5 | |
| 490,580 | | |
| 649,612 | |
Inventory | |
6 | |
| 1,459,621 | | |
| 1,596,536 | |
Prepaids and Deposits | |
7 | |
| 1,073,936 | | |
| 1,342,215 | |
Total current assets | |
| |
| 7,363,873 | | |
| 6,681,975 | |
| |
| |
| | | |
| | |
Equipment | |
9 | |
| 600,365 | | |
| 680,801 | |
Intangible assets | |
| |
| 53,605 | | |
| 56,426 | |
Investments | |
8 | |
| 178,357 | | |
| 189,403 | |
Receivable | |
5 | |
| 156,200 | | |
| - | |
Right of use assets | |
10 | |
| 638,148 | | |
| 721,687 | |
TOTAL ASSETS | |
| |
$ | 8,990,548 | | |
$ | 8,330,292 | |
| |
| |
| | | |
| | |
LIABILITIES AND SHAREHOLDERS’ EQUITY | |
| |
| | | |
| | |
Current Liabilities | |
| |
| | | |
| | |
Trade payables and accrued liabilities | |
12,19 | |
$ | 2,396,936 | | |
$ | 2,638,981 | |
Customer deposits | |
| |
| 62,394 | | |
| 104,715 | |
Deferred income | |
13 | |
| 16,439 | | |
| 12,112 | |
Loans payable | |
14 | |
| 3,373 | | |
| 85,058 | |
Derivative liability | |
15 | |
| 4,033,574 | | |
| 4,196,125 | |
Lease liabilities | |
11 | |
| 316,931 | | |
| 362,001 | |
Total current liabilities | |
| |
| 6,829,647 | | |
| 7,398,992 | |
| |
| |
| | | |
| | |
Non-current Liabilities | |
| |
| | | |
| | |
Deferred Income | |
13 | |
| 91,463 | | |
| 95,562 | |
Lease liabilities | |
11 | |
| 390,911 | | |
| 428,022 | |
TOTAL LIABILITIES | |
| |
| 7,312,021 | | |
| 7,922,576 | |
| |
| |
| | | |
| | |
SHAREHOLDERS’ EQUITY | |
| |
| | | |
| | |
Share capital | |
15 | |
| 100,023,862 | | |
| 97,070,976 | |
Reserve – share-based payments | |
15 | |
| 7,072,480 | | |
| 6,870,139 | |
Accumulated deficit | |
| |
| (105,452,164 | ) | |
| (103,588,356 | ) |
Accumulated other comprehensive income | |
| |
| 34,349 | | |
| 54,957 | |
TOTAL SHAREHOLDERS’ EQUITY | |
| |
| 1,678,527 | | |
| 407,716 | |
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | |
| |
$ | 8,990,548 | | |
$ | 8,330,292 | |
Nature
and Continuance of Operations (Note 1)
Subsequent
event (Note 21)
Approved
and authorized for issuance by the Board of Directors on May 14, 2024.
“Scott
Larson” |
|
“Cameron
Chell” |
Director |
|
Director |
Draganfly
Inc.
Condensed
Consolidated Interim Statements of Comprehensive Loss - Unaudited
Expressed
in Canadian Dollars
| |
| |
| | | |
| | |
| |
| |
For the three months ended | |
| |
| |
March 31, 2024 | | |
March 31, 2023 | |
| |
| |
| | |
| |
Sales of goods | |
16 | |
$ | 1,237,948 | | |
$ | 1,380,816 | |
Provision of services | |
16 | |
| 91,633 | | |
| 220,670 | |
TOTAL REVENUE | |
| |
| 1,329,581 | | |
| 1,601,486 | |
| |
| |
| | | |
| | |
COST OF SALES | |
6 | |
| (1,049,570 | ) | |
| (1,158,052 | ) |
| |
| |
| | | |
| | |
GROSS PROFIT | |
| |
| 280,011 | | |
| 443,434 | |
| |
| |
| | | |
| | |
OPERATING EXPENSES | |
| |
| | | |
| | |
Amortization | |
| |
$ | 2,821 | | |
$ | 8,989 | |
Depreciation | |
9,10 | |
| 143,122 | | |
| 57,506 | |
Director fees | |
19 | |
| 152,438 | | |
| 151,663 | |
Insurance | |
| |
| 364,274 | | |
| 498,006 | |
Office and miscellaneous | |
17 | |
| 346,270 | | |
| 2,800,652 | |
Professional fees | |
| |
| 580,260 | | |
| 847,187 | |
Research and development | |
| |
| 121,391 | | |
| 793,224 | |
Share-based payments | |
15,19 | |
| 198,907 | | |
| 540,563 | |
Travel | |
| |
| 40,019 | | |
| 89,262 | |
Wages and salaries | |
19 | |
| 1,581,431 | | |
| 1,821,081 | |
Total operating expenses | |
| |
| (3,530,933 | ) | |
| (7,608,133 | ) |
OTHER INCOME | |
| |
| | | |
| | |
Change in fair value of derivative liability | |
15 | |
| 1,817,569 | | |
| 57,314 | |
Finance and other costs | |
| |
| 4,825 | | |
| 35,861 | |
Foreign exchange gain (loss) | |
| |
| 66,736 | | |
| (18,156 | ) |
Gain on disposal of assets | |
| |
| 43,528 | | |
| 21,203 | |
Gain on recovery of notes receivable | |
| |
| 6,751 | | |
| - | |
Government income | |
| |
| - | | |
| 1,275 | |
Other expense | |
18 | |
| (552,295 | ) | |
| (424 | ) |
Total Other income (expenses) | |
| |
$ | 1,387,114 | | |
$ | 97,073 | |
| |
| |
| | | |
| | |
NET LOSS | |
| |
$ | (1,863,808 | ) | |
$ | (7,067,626 | ) |
OTHER COMPREHENSIVE LOSS | |
| |
| | | |
| | |
Items that may be reclassified to profit or loss | |
| |
| | | |
| | |
Foreign exchange translation | |
| |
| (9,562 | ) | |
| (86,402 | ) |
Items that will not be reclassified to profit or loss | |
| |
| | | |
| | |
Change in fair value of equity investments at FVOCI | |
8 | |
| (11,046 | ) | |
| 57,033 | |
COMPREHENSIVE LOSS | |
| |
| (1,884,416 | ) | |
| (7,096,995 | ) |
| |
| |
| | | |
| | |
Net Loss per share – Basic & diluted | |
| |
$ | (0.03 | ) | |
$ | (0.20 | ) |
Weighted average number of common shares outstanding – Basic & diluted | |
| |
| 54,933,773 | | |
| 34,689,118 | |
Draganfly
Inc.
Condensed
Consolidated Interim Statements of Changes in Shareholders’ Equity - Unaudited
Expressed
in Canadian Dollars
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| |
| | |
| | |
| | |
| | |
Accumulated Other Comprehensive Income (Loss) | | |
| |
| |
Number of Shares | | |
Share Capital | | |
Reserve – Share-Based Payments | | |
Accumulated Deficit | | |
Change in Fair Value of Investments at FVTOCI | | |
Exchange Differences on Translation of Foreign Operations | | |
Total
Shareholders’ Equity | |
Balance at December 31, 2022 | |
| 34,270,579 | | |
$ | 83,600,089 | | |
$ | 7,264,340 | | |
$ | (79,976,546 | ) | |
$ | (431,123 | ) | |
$ | 584,121 | | |
$ | 11,040,881 | |
Shares issued for financing – ATM (“At-the-Market”) | |
| 650,729 | | |
| 1,748,946 | | |
| - | | |
| - | | |
| - | | |
| - | | |
| 1,748,946 | |
Share issue costs | |
| - | | |
| (187,697 | ) | |
| - | | |
| - | | |
| - | | |
| - | | |
| (187,697 | ) |
Shares issued for financing | |
| 8,000,000 | | |
| 10,856,166 | | |
| - | | |
| - | | |
| - | | |
| - | | |
| 10,856,166 | |
Share issue costs | |
| - | | |
| (1,206,040 | ) | |
| - | | |
| - | | |
| - | | |
| - | | |
| (1,206,040 | ) |
Shares issued for the exercise of warrants | |
| 3,800,000 | | |
| 1,261,245 | | |
| - | | |
| - | | |
| - | | |
| - | | |
| 1,261,245 | |
Shares issued for the exercise of RSUs | |
| 63,657 | | |
| 68,750 | | |
| (68,750 | ) | |
| - | | |
| - | | |
| - | | |
| - | |
Share-based payments | |
| - | | |
| - | | |
| 540,563 | | |
| - | | |
| - | | |
| - | | |
| 540,563 | |
Shares returned to treasury | |
| (900,000 | ) | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
Net loss | |
| - | | |
| - | | |
| - | | |
| (7,067,626 | ) | |
| - | | |
| - | | |
| (7,067,626 | ) |
Change in fair value of equity investments at FVOCI | |
| - | | |
| - | | |
| - | | |
| - | | |
| 57,033 | | |
| - | | |
| 57,033 | |
Translation of foreign operations | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| (86,402 | ) | |
| (86,402 | ) |
Balance at March 31, 2023 | |
| 42,984,965 | | |
$ | 94,880,214 | | |
$ | 7,736,153 | | |
$ | (87,044,172 | ) | |
$ | (374,090 | ) | |
$ | 497,719 | | |
$ | 15,695,824 | |
Shares issued for financing | |
| 4,800,000 | | |
| 520,064 | | |
| - | | |
| - | | |
| - | | |
| - | | |
| 520,064 | |
Share issue costs | |
| - | | |
| (901,285 | ) | |
| 224,868 | | |
| | | |
| | | |
| | | |
| (676,417 | ) |
Shares issued for the exercise of warrants | |
| 3,800,000 | | |
| 1,261,245 | | |
| - | | |
| - | | |
| - | | |
| - | | |
| 1,261,245 | |
Shares issued for the exercise of RSUs | |
| 1,444,598 | | |
| 2,571,983 | | |
| (2,571,983 | ) | |
| - | | |
| - | | |
| - | | |
| - | |
Share-based payments | |
| - | | |
| - | | |
| 1,481,101 | | |
| - | | |
| - | | |
| - | | |
| 1,481,101 | |
Shares returned to treasury | |
| (900,000 | ) | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
Net loss | |
| - | | |
| - | | |
| - | | |
| (16,544,184 | ) | |
| - | | |
| - | | |
| (16,544,184 | ) |
Change in fair value of equity investments at FVOCI | |
| - | | |
| - | | |
| - | | |
| - | | |
| (60,213 | ) | |
| - | | |
| (60,213 | ) |
Translation of foreign operations | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| (8,459 | ) | |
| (8,459 | ) |
Balance at December 31, 2023 | |
| 49,229,563 | | |
$ | 97,070,976 | | |
$ | 6,870,139 | | |
$ | (103,588,356 | ) | |
$ | (434,303 | ) | |
$ | 489,260 | | |
$ | 407,716 | |
Balance | |
| 49,229,563 | | |
$ | 97,070,976 | | |
$ | 6,870,139 | | |
$ | (103,588,356 | ) | |
$ | (434,303 | ) | |
$ | 489,260 | | |
$ | 407,716 | |
Shares issued for financing | |
| 11,200,000 | | |
| 2,017,966 | | |
| - | | |
| - | | |
| - | | |
| - | | |
| 2,017,966 | |
Share issue costs | |
| - | | |
| (338,836 | ) | |
| 72,185 | | |
| - | | |
| - | | |
| - | | |
| (266,651 | ) |
Shares issued for the exercise of warrants | |
| 3,800,000 | | |
| 1,205,005 | | |
| - | | |
| - | | |
| - | | |
| - | | |
| 1,205,005 | |
Shares issued for the exercise of RSUs | |
| 63,658 | | |
| 68,751 | | |
| (68,751 | ) | |
| - | | |
| - | | |
| - | | |
| - | |
Share-based payments | |
| - | | |
| - | | |
| 198,907 | | |
| - | | |
| - | | |
| - | | |
| 198,907 | |
Shares returned to treasury | |
| (900,000 | ) | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
Net loss | |
| - | | |
| - | | |
| - | | |
| (1,863,808 | ) | |
| - | | |
| - | | |
| (1,863,808 | ) |
Change in fair value of equity investments at FVOCI | |
| - | | |
| - | | |
| - | | |
| - | | |
| (11,046 | ) | |
| - | | |
| (11,046 | ) |
Translation of foreign operations | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| (9,562 | ) | |
| (9,562 | ) |
Balance at March 31, 2024 | |
| 63,393,221 | | |
$ | 100,023,862 | | |
$ | 7,072,480 | | |
$ | (105,452,164 | ) | |
$ | (445,349 | ) | |
$ | 479,698 | | |
$ | 1,678,527 | |
Balance | |
| 63,393,221 | | |
$ | 100,023,862 | | |
$ | 7,072,480 | | |
$ | (105,452,164 | ) | |
$ | (445,349 | ) | |
$ | 479,698 | | |
$ | 1,678,527 | |
Draganfly
Inc.
Condensed
Consolidated Interim Statements of Cash Flows - Unaudited
Expressed
in Canadian Dollars
| |
| | | |
| | |
| |
For the three months ended March 31, | |
| |
2024 | | |
2023 | |
| |
| | |
| |
OPERATING ACTIVITIES | |
| | | |
| | |
Net loss | |
$ | (1,863,808 | ) | |
$ | (7,067,626 | ) |
Adjustments for: | |
| | | |
| | |
Amortization | |
| 2,821 | | |
| 8,989 | |
Depreciation | |
| 143,122 | | |
| 57,506 | |
Impairment of accounts receivable | |
| - | | |
| 198,513 | |
Change in fair value of derivative liability | |
| (1,817,569 | ) | |
| (57,314 | ) |
Impairment of inventory | |
| 148,760 | | |
| 77,047 | |
Impairment (Gain) on recovery of notes receivable | |
| (6,751 | ) | |
| - | |
Finance and other costs | |
| 485,849 | | |
| 1,275 | |
Gain on disposal of assets | |
| (43,528 | ) | |
| (21,203 | ) |
Income from government assistance | |
| - | | |
| - | |
Share-based payments | |
| 198,907 | | |
| 540,563 | |
Adjustments for profit loss | |
| (2,752,197 | ) | |
| (6,262,250 | ) |
Net changes in non-cash working capital items: | |
| | | |
| | |
Receivables | |
| 2,832 | | |
| 404,458 | |
Inventory | |
| (11,845 | ) | |
| (558,352 | ) |
Prepaids | |
| 268,279 | | |
| 419,350 | |
Trade payables and accrued liabilities | |
| (111,045 | ) | |
| 392,643 | |
Customer deposits | |
| (42,321 | ) | |
| 40,467 | |
Deferred income | |
| 228 | | |
| (59,732 | ) |
Cash used in operating activities | |
| (2,646,069 | ) | |
| (5,623,416 | ) |
| |
| | | |
| | |
INVESTING ACTIVITIES | |
| | | |
| | |
Purchase of equipment | |
| (4,066 | ) | |
| (74,415 | ) |
Disposal of equipment | |
| 73,366 | | |
| 45,774 | |
Repayment of notes receivable | |
| 6,751 | | |
| 33,369 | |
Cash provided by (used in) investing activities | |
| 76,051 | | |
| 4,728 | |
| |
| | | |
| | |
FINANCING ACTIVITIES | |
| | | |
| | |
Proceeds from issuance of common shares for financing | |
| 4,877,475 | | |
| 12,605,112 | |
Share issue costs | |
| (889,482 | ) | |
| (1,393,737 | ) |
Proceeds from issuance of common shares for warrants exercised | |
| 513 | | |
| - | |
Repayment of loans | |
| (81,685 | ) | |
| (1,686 | ) |
Repayment of lease liabilities | |
| (81,117 | ) | |
| (30,444 | ) |
Cash provided by (used in) financing activities | |
| 3,825,704 | | |
| 11,179,245 | |
| |
| | | |
| | |
Effects of exchange rate changes on cash | |
| (9,562 | ) | |
| (86,402 | ) |
Change in cash | |
| 1,255,686 | | |
| 5,560,557 | |
Cash and cash equivalents, beginning of period | |
| 3,093,612 | | |
| 7,894,781 | |
Cash and cash equivalents, end of period | |
$ | 4,339,736 | | |
$ | 13,368,936 | |
| |
| | | |
| | |
SUPPLEMENTARY CASH FLOW DISCLOSURE | |
| | | |
| | |
Interest paid | |
$ | 21,522 | | |
$ | 11,817 | |
Share issue costs in accounts payable | |
| 153,455 | | |
| 246,836 | |
The
accompanying notes are an integral part of these condensed consolidated interim financial statements.
Draganfly
Inc.
Notes
to the Condensed Consolidated Interim Financial Statements
For
the Three Months Ended March 31, 2024
Expressed
in Canadian Dollars (unaudited)
1. NATURE AND CONTINUANCE OF OPERATIONS
Draganfly
Inc. (the “Company”) was incorporated on June 1, 2018 under the Business Corporations Act (British Columbia). The Company
creates quality, cutting-edge unmanned and remote data collection and analysis platforms and systems that are designed to revolutionize
the way companies do business. The Company’s shares trade on the Canadian Securities Exchange (the “CSE”), on the Nasdaq
Capital Market (the “Nasdaq”) under the symbol “DPRO” and on the Frankfurt Stock Exchange under the symbol “3U8A”.
The Company’s head office is located at 235 103rd St. E, Saskatoon, SK, S7N 1Y8 and its registered office is located
at 2800 – 666 Burrard Street, Vancouver, BC, V6C 2Z7.
These
condensed consolidated interim financial statements have been prepared on the assumption that the Company will continue as a going concern,
meaning it will continue in operation for the foreseeable future and will be able to realize assets and discharge liabilities in the
ordinary course of operations. To date, the Company has not been profitable and has an accumulated deficit of $105,452,164. The Company’s
ability to continue as a going concern is dependent upon its ability to obtain additional financing and or achieve profitable operations
in the future. These factors raise substantial doubt over the Company’s ability to continue as a going concern. These condensed
consolidated interim financial statements do not reflect adjustments that would be necessary if the going concern assumption were not
appropriate. These adjustments could be material.
2. BASIS OF PREPARATION
Statement
of Compliance
These
condensed consolidated interim financial statements have been prepared in accordance with International Accounting Standard (“IAS”)
34, “Interim Financial Reporting”. These condensed consolidated interim financial statements include all necessary disclosures
required for interim financial statements but do not include all disclosures required for annual financial statements. These condensed
consolidated interim financial statements should be read in conjunction with the Company’s annual financial statements for the
year ended December 31, 2023.
These
condensed consolidated interim financial statements were authorized for issue by the Board of Directors on May 14, 2024.
Basis
of consolidation
Each
subsidiary is fully consolidated from the date of acquisition, being the date on which the Company obtains control, and continues to
be consolidated until the date when such control ceases.
The
condensed consolidated interim financial statements include the accounts and results of operations of the Company and its wholly owned
subsidiaries listed in the following table:
SCHEDULE OF WHOLLY OWNED SUBSIDIARIES
Name of Subsidiary | |
Place of Incorporation | | |
Ownership Interest | |
Draganfly Innovations Inc. (DII) | |
| Canada | | |
| 100 | % |
Draganfly Innovations USA, Inc. (DI USA) | |
| US | | |
| 100 | % |
Dronelogics Systems Inc. (“Dronelogics”) | |
| Canada | | |
| 100 | % |
All
intercompany balances and transactions were eliminated on consolidation.
Draganfly
Inc.
Notes
to the Condensed Consolidated Interim Financial Statements
For
the Three Months Ended March 31, 2024
Expressed
in Canadian Dollars (unaudited)
3. MATERIAL ACCOUNTING POLICY INFORMATION, ESTIMATES, AND JUDGEMENTS
These
condensed consolidated interim financial statements have been prepared following the same accounting principles and methods of computation
as in outlined in the Company’s consolidated financial statements for the year ended December 31, 2023. A description of the accounting
standards and interpretations that have been adopted by the Company can be found in the notes of the annual financials statements for
the year ended December 31, 2023.
The
preparation of the condensed consolidated interim financial statements requires management to make assumptions and estimates that affect
the reported amounts of assets and liabilities at the date of the financial statements and reported amounts of income and expenses during
the reporting period. These condensed consolidated interim financial statements include estimates, which by their nature, are uncertain.
These assumptions and associated estimates are based on historical experience and other factors that are considered to be relevant. As
such, actual results may differ from estimates and the effect of such differences may be material. Significant estimates and judgements
used in the preparation of these condensed consolidated interim financial statements remained unchanged from those disclosed in the Company’s
annual consolidated financial statements for the year ended December 31, 2023.
4. CASH AND CASH EQUIVALENTS
SCHEDULE OF CASH AND CASH EQUIVALENTS
As at | |
March 31, 2024 | | |
December 31, 2023 | |
Cash held in banks | |
$ | 4,339,736 | | |
$ | 3,093,612 | |
5. RECEIVABLES
SCHEDULE
OF AMOUNTS RECEIVABLE
As at | |
March 31, 2024 | | |
December 31, 2023 | |
Trade accounts receivable | |
$ | 599,050 | | |
$ | 610,443 | |
Sales tax receivable | |
| 47,730 | | |
| 39,169 | |
Trade and other receivables | |
$ | 646,780 | | |
$ | 649,612 | |
Current portion | |
$ | 490,580 | | |
$ | 649,612 | |
Long term portion | |
| 156,200 | | |
| - | |
Trade and other receivables | |
$ | 646,780 | | |
$ | 649,612 | |
During
the three months ended March 31, 2024, the Company recorded a provision for doubtful accounts of $nil (2023 – $198,513).
The
long-term receivable represents a refundable deposit that allows for a two-year repayment term.
6. INVENTORY
SCHEDULE OF INVENTORIES
As at | |
March 31, 2024 | | |
December 31, 2023 | |
Finished goods | |
$ | 1,104,798 | | |
$ | 904,858 | |
Parts | |
| 354,823 | | |
| 691,678 | |
Inventories | |
$ | 1,459,621 | | |
$ | 1,596,536 | |
During
the three months ended March 31, 2024, $966,339 (2023 - $1,012,881) of inventory was recognized in cost of sales including an allowance
to value its inventory for obsolete and slow-moving inventory of $148,760 (2023 -$77,047).
Cost
of sales consist of the following:
SCHEDULE
OF COST OF SALES
For the three months ended | |
March 31, 2024 | | |
March
31, 2023 | |
Inventory | |
$ | 966,339 | | |
$ | 1,012,881 | |
Consulting and services | |
| 22,474 | | |
| 93,654 | |
Other | |
| 60,757 | | |
| 51,517 | |
Cost of sales | |
$ | 1,049,570 | | |
$ | 1,158,052 | |
Draganfly
Inc.
Notes
to the Condensed Consolidated Interim Financial Statements
For
the Three Months Ended March 31, 2024
Expressed
in Canadian Dollars (unaudited)
7. PREPAIDS AND DEPOSITS
SCHEDULE
OF PREPAID EXPENSES AND DEPOSITS
As at | |
March 31, 2024 | | |
December 31, 2023 | |
Insurance | |
$ | 490,811 | | |
$ | 838,445 | |
Prepaid other | |
| 180,701 | | |
| 142,124 | |
Deposits | |
| 402,424 | | |
| 361,646 | |
Prepaid expenses and deposits | |
$ | 1,073,936 | | |
$ | 1,342,215 | |
8. INVESTMENTS
SCHEDULE OF INVESTMENTS
Balance at December 31, 2023 | |
$ | 189,403 | |
Change in fair value | |
| (11,046 | ) |
Balance at March 31 2024 | |
$ | 178,357 | |
Fair
value of investments is comprised of:
SCHEDULE
OF FAIR VALUE OF INVESTMENT
Public company shares | |
$ | 42,857 | |
Private company shares | |
| 135,500 | |
Balance at March 31, 2024 | |
$ | 178,357 | |
The Company
holds 1,428,571
shares of a publicly listed company with an initial cost of $500,000.
The Company holds 50,000 common shares of a private company with an initial value of USD$100,000. The Company considers if observable
market data exists on a quarterly basis to value the investment. Since inception, the Company has not had any adjustments to the fair
value of the investment based on observable market data.
Draganfly
Inc.
Notes
to the Condensed Consolidated Interim Financial Statements
For
the Three Months Ended March 31, 2024
Expressed
in Canadian Dollars (unaudited)
9. EQUIPMENT
SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT
| |
Computer Equipment | | |
Furniture and Equipment | | |
Leasehold Improvements | | |
Vehicles | | |
Total | |
Cost | |
| | | |
| | | |
| | | |
| | | |
| | |
Balance at December 31, 2022 | |
$ | 95,662 | | |
$ | 834,453 | | |
$ | - | | |
$ | 36,033 | | |
$ | 966,148 | |
Additions | |
| 58,611 | | |
| 320,941 | | |
| 86,530 | | |
| 24,310 | | |
| 490,394 | |
Disposals | |
| (21,000 | ) | |
| (115,204 | ) | |
| - | | |
| - | | |
| (136,204 | ) |
Balance at December 31, 2023 | |
| 133,273 | | |
| 1,040,192 | | |
| 86,530 | | |
| 60,343 | | |
| 1,320,338 | |
Property, plant and equipment, beginning balance | |
| 133,273 | | |
| 1,040,192 | | |
| 86,530 | | |
| 60,343 | | |
| 1,320,338 | |
Additions | |
| - | | |
| 1,706 | | |
| 2,358 | | |
| - | | |
| 4,064 | |
Disposals | |
| - | | |
| (76,901 | ) | |
| - | | |
| - | | |
| (76,901 | ) |
Balance at March 31, 2024 | |
$ | 133,273 | | |
$ | 964,997 | | |
$ | 88,888 | | |
$ | 60,343 | | |
$ | 1,247,501 | |
Property, plant
and equipment, ending balance | |
$ | 133,273 | | |
$ | 964,997 | | |
$ | 88,888 | | |
$ | 60,343 | | |
$ | 1,247,501 | |
| |
| | | |
| | | |
| | | |
| | | |
| | |
Accumulated depreciation | |
| | | |
| | | |
| | | |
| | | |
| | |
Balance at December 31, 2022 | |
$ | 41,998 | | |
$ | 502,790 | | |
$ | - | | |
$ | 16,669 | | |
$ | 561,457 | |
Charge for the year | |
| 22,762 | | |
| 112,361 | | |
| 6,790 | | |
| 12,497 | | |
| 154,410 | |
Disposals | |
| (6,582 | ) | |
| (69,748 | ) | |
| - | | |
| - | | |
| (76,330 | ) |
Balance at December 31, 2023 | |
| 58,178 | | |
| 545,403 | | |
| 6,790 | | |
| 29,166 | | |
| 639,537 | |
Accumulated depreciation
Property, plant and equipment, beginning balance | |
| 58,178 | | |
| 545,403 | | |
| 6,790 | | |
| 29,166 | | |
| 639,537 | |
Charge for the period | |
| 10,225 | | |
| 37,667 | | |
| 4,431 | | |
| 2,338 | | |
| 54,661 | |
Disposals | |
| - | | |
| (47,062 | ) | |
| - | | |
| - | | |
| (47,062 | ) |
Balance at March 31, 2024 | |
$ | 68,403 | | |
$ | 536,008 | | |
$ | 11,221 | | |
$ | 31,504 | | |
$ | 647,136 | |
Accumulated
depreciation Property, plant and equipment, ending balance | |
$ | 68,403 | | |
$ | 536,008 | | |
$ | 11,221 | | |
$ | 31,504 | | |
$ | 647,136 | |
| |
| | | |
| | | |
| | | |
| | | |
| | |
Net book value: | |
| | | |
| | | |
| | | |
| | | |
| | |
December 31, 2023 | |
$ | 75,095 | | |
$ | 494,789 | | |
$ | 79,740 | | |
$ | 31,177 | | |
$ | 680,801 | |
March 31, 2024 | |
$ | 64,870 | | |
$ | 428,989 | | |
$ | 77,667 | | |
$ | 28,839 | | |
$ | 600,365 | |
Property, plant
and equipment | |
$ | 64,870 | | |
$ | 428,989 | | |
$ | 77,667 | | |
$ | 28,839 | | |
$ | 600,365 | |
Draganfly
Inc.
Notes
to the Condensed Consolidated Interim Financial Statements
For
the Three Months Ended March 31, 2024
Expressed
in Canadian Dollars (unaudited)
10. RIGHT OF USE ASSETS
SCHEDULE
OF RIGHT OF USE ASSETS
| |
Vehicles | | |
Buildings | | |
Land | | |
Total | |
| |
| | | |
| | | |
| | | |
| | |
Balance at December 31, 2022 | |
$ | 2,385 | | |
$ | 342,361 | | |
$ | - | | |
$ | 344,746 | |
Additions | |
| - | | |
| 322,354 | | |
| 418,001 | | |
| 740,355 | |
Depreciation | |
| (2,385 | ) | |
| (149,644 | ) | |
| (211,057 | ) | |
| (363,086 | ) |
Foreign exchange translation | |
| - | | |
| - | | |
| (328 | ) | |
| (328 | ) |
Balance at December 31, 2023 | |
$ | - | | |
$ | 515,071 | | |
$ | 206,616 | | |
$ | 721,687 | |
Right of use assets, Cost, Balance | |
$ | - | | |
$ | 515,071 | | |
$ | 206,616 | | |
$ | 721,687 | |
Depreciation | |
$ | - | | |
$ | (35,681 | ) | |
$ | (52,777 | ) | |
$ | (88,458 | ) |
Foreign exchange translation | |
| - | | |
| - | | |
| 4,919 | | |
| 4,919 | |
Balance at March 31, 2024 | |
$ | - | | |
$ | 479,390 | | |
$ | 158,758 | | |
$ | 638,148 | |
Right of use assets, Cost, Balance | |
$ | - | | |
$ | 479,390 | | |
$ | 158,758 | | |
$ | 638,148 | |
The
Company added two new leases during the year ended December 31, 2023. A lease for land in the amount of $418,001
with an expiration date of December
31, 2024, and another lease for a facility in
the amount of $322,354
with an expiration date of September
30, 2028. The Company has four leases with expiration
dates of December
31, 2024, May
31, 2026, January
31, 2027, and September
30, 2028.
11. LEASE LIABILITIES
The
Company leases certain assets under lease agreements. The lease liabilities consist of leases of facilities and vehicles with terms ranging
from one to five years. The leases are calculated using incremental borrowing rates ranging from 7.5% to 13.25%. Extension options are
included in a majority of the leases with options that are only exercisable by the Company and not the other party.
SCHEDULE OF OPERATING LEASE LIABILITIES
As at | |
Total | |
Balance at December 31, 2022 | |
$ | 378,643 | |
Interest expense | |
| 96,423 | |
Additions | |
| 734,903 | |
Lease payments | |
| (423,410 | ) |
Foreign exchange translation | |
| 3,464 | |
Balance at December 31, 2023 | |
| 790,023 | |
Interest expense | |
| 20,323 | |
Lease payments | |
| (101,440 | ) |
Foreign exchange translation | |
| (1,064 | ) |
Balance at March 31, 2024 | |
$ | 707,842 | |
Which
consists of:
| |
March 31, 2024 | | |
December 31, 2023 | |
Current lease liability | |
$ | 316,931 | | |
$ | 362,001 | |
Non-current lease liability | |
| 390,911 | | |
| 428,022 | |
Ending balance | |
$ | 707,842 | | |
$ | 790,023 | |
SCHEDULE OF OPERATING MATURITY ANALYSIS
Maturity analysis | |
Total | |
Less than one year | |
$ | 372,356 | |
One to three years | |
| 334,746 | |
Four to five years | |
| 114,937 | |
Total undiscounted lease liabilities | |
| 822,039 | |
Amount representing interest | |
| (114,197 | ) |
Lease liability | |
$ | 707,842 | |
Draganfly
Inc.
Notes
to the Condensed Consolidated Interim Financial Statements
For
the Three Months Ended March 31, 2024
Expressed
in Canadian Dollars (unaudited)
12.
TRADE PAYABLES AND ACCRUED LIABILITIES
SCHEDULE OF TRADE PAYABLES AND ACCRUED LIABILITIES
As at | |
March 31, 2024 | | |
December 31, 2023 | |
Trade accounts payable | |
$ | 1,159,489 | | |
$ | 1,259,623 | |
Accrued liabilities | |
| 1,203,738 | | |
| 1,345,649 | |
Government grant payable | |
| 33,709 | | |
| 33,709 | |
Trade payables and accrued liabilities | |
$ | 2,396,936 | | |
$ | 2,638,981 | |
13. DEFERRED INCOME
At
times, the Company may take payment in advance for services to be rendered. These amounts are held and recognized as services are rendered.
SCHEDULE
OF DEFERRED INCOME
As at | |
March 31, 2024 | | |
December 31, 2023 | |
Deferred income from customers | |
$ | 6,287 | | |
$ | 12,112 | |
Deferred income from government | |
| 101,615 | | |
| 95,562 | |
Deferred
income gross | |
$ | 107,902 | | |
$ | 107,674 | |
Current portion | |
$ | 16,439 | | |
$ | 12,112 | |
Long-term portion | |
| 91,463 | | |
| 95,562 | |
Deferred income net | |
$ | 107,902 | | |
$ | 107,674 | |
Deferred
revenue of $16,439 as
of March 31, 2024 is expected to be recognized as revenue within one year. The remaining is related to a long-term support and maintenance
arrangements and will be recognized according to the terms of these arrangements over the next 4.3
years.
14. LOANS PAYABLE
SCHEDULE
OF LOANS PAYABLE
As at | |
March 31, 2024 | | |
December 31, 2023 | |
Opening balance | |
$ | 85,058 | | |
$ | 86,571 | |
Repayment of loans payable | |
| (81,685 | ) | |
| (6,747 | ) |
Accretion expense | |
| - | | |
| 5,234 | |
Ending balance | |
$ | 3,373 | | |
$ | 85,058 | |
SCHEDULE
OF LOANS
| |
Start Date | |
Maturity Date | |
Rate | | |
Carrying Value March 31, 2024 | | |
Carrying Value December 31, 2023 | |
CEBA | |
2020-05-19 | |
2024-03-28 | |
| 0 | % | |
$ | - | | |
$ | 40,000 | |
CEBA | |
2021-04-23 | |
2024-03-28 | |
| 0 | % | |
| - | | |
| 40,000 | |
Vehicle loan | |
2019-08-30 | |
2024-09-11 | |
| 6.99 | % | |
| 3,373 | | |
| 5,058 | |
Total | |
| |
| |
| | | |
$ | 3,373 | | |
$ | 85,058 | |
Total Carrying Value | |
| |
| |
| | | |
$ | 3,373 | | |
$ | 85,058 | |
The
CEBA loans are unsecured, and the vehicle loan is secured by the vehicle. The CEBA loans were repaid March 25, 2024.
Draganfly
Inc.
Notes
to the Condensed Consolidated Interim Financial Statements
For
the Three Months Ended March 31, 2024
Expressed
in Canadian Dollars (unaudited)
15. SHARE CAPITAL
Authorized
share capital
Unlimited
number of common shares without par value.
Issued
share capital
During
the three months ended March 31, 2024,
| ● | The
Company issued 63,658 common shares for the vesting of restricted share units. |
| ● | The
Company issued 3,800,000 common shares for the exercise of warrants |
| ● | The
Company issued 11,200,000
units
consisting of one common share and one warrant and 2,200,00 units consisting of one prefunded
warrant and one warrant in a financing for $4,877,475
with
share issuance costs of $752,498
for
net proceeds of $4,274,391.
Of the total share issuance costs $441,166
were
expensed in other income (expense). Value of the issuance was allocated $2,017,966 to
the shares, and $2,859,509 to the warrants, including $431,084 allocated to prefunded warrants.
The prefunded warrants were exercised on the date of issue. |
| ● | 900,000
shares were returned to treasury that were held in escrow related to the Vital Intelligence
Inc. acquisition for failure to meet required milestones. All value that had been recorded
related to these shares had been previously written off. |
During
the year ended December 31, 2023,
| ● | The
Company issued 1,508,255 common shares for the vesting of restricted share units. |
| ● | The
Company issued 8,000,000 common shares in a financing for $10,856,166 with share issuance
costs of $1,953,032 for net proceeds of $8,903,134. |
| ● | The
Company issued 650,729 common shares in an ATM (“At – the - market”) financing
for $1,748,946 with share issuance costs of $222,136 for net proceeds of $1,526,810. |
| ● | The
Company issued 4,800,000
common shares in a financing for proceeds of
$4,858,995
with share issuance costs of $889,623
for net proceeds of $3,969,372.
Of the total share issuance costs $793,979
were expensed in other income (expense). Value
of the issuance was allocated $520,064
to the shares and $4,338,931
to derivative liability. |
Stock
Options
The
Company has adopted an incentive share compensation plan, which provides that the Board of Directors of the Company may from time to
time, in its discretion, and in accordance with the CSE requirements, grant to directors, officers, employees, and technical consultants
to the Company, non-transferable stock options to purchase common shares. The total number of common shares reserved and available for
grant and issuance pursuant to this plan shall not exceed 20% (in the aggregate) of the issued and outstanding common shares from time
to time. The number of options awarded and underlying vesting conditions are determined by the Board of Directors in its discretion.
As
at March 31, 2024, the Company had the following options outstanding and exercisable:
SCHEDULE OF STOCK OPTIONS OUTSTANDING AND EXERCISABLE
Grant Date | |
Expiry Date | |
Exercise Price | | |
Remaining Contractual Life (years) | | |
Number of Options Outstanding | | |
Number of Options Exercisable | |
October 30, 2019 | |
October 30, 2029 | |
$ | 2.50 | | |
| 5.57 | | |
| 278,332 | | |
| 278,332 | |
November 19, 2019 | |
November 19, 2029 | |
$ | 2.50 | | |
| 5.63 | | |
| 50,000 | | |
| 50,000 | |
April 30, 2020 | |
April 30, 2030 | |
$ | 2.50 | | |
| 6.07 | | |
| 85,000 | | |
| 85,000 | |
April 30, 2020 | |
April 30, 2030 | |
$ | 3.85 | | |
| 6.07 | | |
| 110,000 | | |
| 110,000 | |
July 3, 2020 | |
July 3, 2025 | |
$ | 3.20 | | |
| 1.25 | | |
| 100,000 | | |
| 100,000 | |
November 24, 2020 | |
November 24, 2030 | |
$ | 2.50 | | |
| 6.64 | | |
| 32,000 | | |
| 32,000 | |
February 2, 2021 | |
February 2, 2031 | |
$ | 13.20 | | |
| 6.83 | | |
| 30,000 | | |
| 30,000 | |
March 8, 2021 | |
March 8, 2026 | |
$ | 13.90 | | |
| 1.93 | | |
| 10,000 | | |
| 10,000 | |
April 27, 2021 | |
April 27, 2031 | |
$ | 10.15 | | |
| 7.06 | | |
| 137,665 | | |
| 113,994 | |
September 9, 2021 | |
September 9, 2026 | |
$ | 4.84 | | |
| 2.44 | | |
| 25,826 | | |
| 17,217 | |
November 9, 2023 | |
November 9, 2033 | |
$ | 0.626 | | |
| 9.59 | | |
| 30,000 | | |
| 10,000 | |
| |
| |
| | | |
| | | |
| 888,823 | | |
| 836,543 | |
Draganfly
Inc.
Notes
to the Condensed Consolidated Interim Financial Statements
For
the Three Months Ended March 31, 2024
Expressed
in Canadian Dollars (unaudited)
15. |
SHARE CAPITAL (CONT’D) |
SCHEDULE
OF STOCK OPTIONS OUTSTANDING
| |
Number of Options | | |
Weighted Average Exercise Price | |
Outstanding, December 31, 2022 | |
| 877,157 | | |
$ | 4.60 | |
Forfeited | |
| (9,999 | ) | |
| 3.77 | |
Issued | |
| 30,000 | | |
| 0.63 | |
Outstanding, December 31, 2023 | |
| 897,158 | | |
$ | 4.48 | |
Forfeited | |
| (8,335 | ) | |
| 10.15 | |
Outstanding, March 31, 2024 | |
| 888,823 | | |
$ | 4.42 | |
No
options were granted by the Company during the three months ended March 31, 2024.
During
the three months ended March 31, 2024, the Company recorded $26,689 (2023 – $103,012) in stock-based compensation in relation to
the vesting of stock options. The fair values of stock options granted were estimated using the Black-Scholes Option Pricing Model.
Restricted
Share Units
During
the three months ended March 31, 2024, the Company recorded share-based payment expense of $172,218 (2023 - $437,551) for RSUs, based
on the fair values of RSUs granted which were calculated using the closing price of the Company’s stock on the day prior to grant.
The
Company has adopted an incentive share compensation plan, which provides that the Board of Directors of the Company may from time to
time, in its discretion, and in accordance with the Exchange requirements, grant to directors, officers, employees and technical
consultants to the Company, restricted stock units (RSUs). The number of RSUs awarded and underlying vesting conditions are
determined by the Board of Directors in its discretion. RSUs will have a 3-year vesting period following the award date. The
total number of common shares reserved and available for grant and issuance pursuant to this plan, and the total number of
Restricted Share Units that may be awarded pursuant to this plan, shall not exceed 20% (in the aggregate) of the issued and
outstanding common shares from time to time.
As
at March 31, 2024, the Company had the following RSUs outstanding:
SUMMARY OF CHANGES IN RESTRICTED STOCK UNITS
| |
Number of RSUs | |
Outstanding, December 31, 2022 | |
| 1,198,875 | |
Vested | |
| (1,508,255 | ) |
Issued | |
| 1,685,316 | |
Forfeited | |
| (262,969 | ) |
Outstanding, December 31, 2023 | |
| 1,112,967 | |
Vested | |
| (63,658 | ) |
Forfeited | |
| (36,203 | ) |
Outstanding, March 31, 2024 | |
| 1,013,106 | |
Draganfly
Inc.
Notes
to the Condensed Consolidated Interim Financial Statements
For
the Three Months Ended March 31, 2024
Expressed
in Canadian Dollars (unaudited)
15. |
SHARE CAPITAL (CONT’D) |
Warrants
During
the three months ended March 31, 2024 and the year ended December 31, 2023, the Company issued pre-funded warrants (“USD pre-funded
Warrants”) where a portion of the funds related to the eventual exercise have already been received with the remaining exercise
price in USD. Being in a foreign currency that is not the Company’s functional currency and these pre-funded warrants were not
issued in exchange for services, the value related to the future exercise price of the USD pre-funded Warrants are required to be recorded
as a financial liability and not as equity. As a financial liability, the portion of the USD pre-funded Warrants related to the future
exercise price will be revalued on a quarterly basis to fair market value with the change in fair value being recorded in profit or loss.
To
reach a fair value of the USD Warrants, a Black Scholes calculation is used, calculated in USD as the Company also trades on the Nasdaq.
The Black Scholes value per USD Warrant is then multiplied by the number of outstanding warrants and then multiplied by the foreign exchange
rate at the end of the period. At the date of issue the warrants were valued with a risk free rate of 4.33%, volatility of 119.23%, expected life
of 5 years and an expected dividend yield rate of 0%. The broker warrants were valued with a risk free rate of 4.48%, volatility of 107.8%,
expected life of 3 years and an expected dividend yield of 0%.
Warrant
Derivative Liability
SCHEDULE OF WARRANT DERIVATIVE LIABILITY
Balance at December 31, 2022 | |
$ | - | |
Warrants issued | |
| 3,985,015 | |
Change in fair value of warrants outstanding | |
| 211,110 | |
Balance at December 31, 2023 | |
$ | 4,196,125 | |
Warrants issued | |
| 2,859,509 | |
Warrants exercised | |
| (1,204,491 | ) |
Change in fair value of warrants outstanding | |
| (1,817,569 | ) |
Balance at March 31, 2024 | |
$ | 4,033,574 | |
Derivative liability balance at | |
March 31, 2024 | | |
December 31, 2023 | |
Warrants | |
$ | 4,033,574 | | |
$ | 4,196,125 | |
Draganfly
Inc.
Notes
to the Condensed Consolidated Interim Financial Statements
For
the Three Months Ended March 31, 2024
Expressed
in Canadian Dollars (unaudited)
15. |
SHARE CAPITAL (CONT’D) |
Details
of these warrants and their fair values are as follows:
SCHEDULE
OF WARRANT AND FAIR VALUE OUTSTANDING
Issue
Date | |
Exercise
Price | | |
Number
of Warrants Outstanding at March 31, 2024 | | |
Fair
Value at March 31, 2024 | | |
Number
of Warrants Outstanding at December 31, 2023(5) | | |
Fair
Value at December 31, 2023 | |
October 30,
2023 (1) | |
US$ | 0.6123 | | |
| 6,400,000 | | |
| 1,130,828 | | |
| 6,400,000 | | |
| 3,180,543 | |
October
30, 2023 (2) | |
US$ | 0.0001 | | |
| - | | |
| - | | |
| 1,600,000 | | |
| 1,015,582 | |
February
26, 2024 (3) | |
US$ | 0.1761 | | |
| 13,400,000 | | |
| 2,902,746 | | |
| - | | |
| - | |
February
26, 2024 (4) | |
US$ | 0.17 | | |
| - | | |
| - | | |
| - | | |
| - | |
| |
| | | |
| 19,800,000 | | |
$ | 4,033,574 | | |
| 8,000,000 | | |
$ | 4,196,125 | |
The
fair values of these warrants were estimated using the Black-Scholes Option Pricing Model with the following weighted average assumptions:
SCHEDULE OF WEIGHTED AVERAGE ASSUMPTION FOR WARRANTS
| |
March 31, 2024 | | |
December 31, 2023 | |
Risk free interest rate | |
| 4.21 | % | |
| 3.84 | % |
Expected volatility | |
| 119.47 | % | |
| 113.78 | % |
Expected life | |
| 4.6 - 4.91 years | | |
| 4.8 years | |
Expected dividend yield | |
| 0 | % | |
| 0 | % |
SUMMARY OF CHANGES IN WARRANTS
| |
Number of Warrants | | |
Weighted Average Exercise Price | |
Outstanding, December 31, 2022 | |
| 7,916,797 | | |
$ | 5.08 | |
Issued | |
| 8,320,000 | | |
| 0.50 | |
Expired | |
| (7,661,999 | ) | |
| |
Outstanding, December 31, 2023 | |
| 8,574,798 | | |
$ | 0.63 | |
Issued | |
| 16,270,000 | | |
| 0.22 | |
Exercised | |
| (3,800,000 | ) | |
| 0.0001 | |
Outstanding March 31, 2024 | |
| 21,044,798 | | |
$ | 0.51 | |
Draganfly
Inc.
Notes
to the Condensed Consolidated Interim Financial Statements
For
the Three Months Ended March 31, 2024
Expressed
in Canadian Dollars (unaudited)
15. |
SHARE CAPITAL (CONT’D) |
As
at March 31, 2024, the Company had the following warrants outstanding:
SCHEDULE OF WARRANTS OUTSTANDING
Date
issued | |
Expiry
date | |
Exercise
price | | |
Number
of warrants outstanding | |
July 29, 2021 | |
July 29, 2024 | |
US$ | 5.00 | | |
| 250,000 | |
September 14, 2021 | |
September 14, 2024 | |
US$ | 5.00 | | |
| 4,798 | |
October 30, 2023 | |
October 30, 2026 | |
US$ | 0.6875 | | |
| 320,000 | |
October 30, 2023 | |
October 30, 2028 | |
US$ | 0.6123 | | |
| 6,400,000 | |
February 26, 2024 | |
February 26, 2027 | |
US$ | 0.3375 | | |
| 670,000 | |
February
26, 2024 | |
February
26, 2029 | |
US$ | 0.1761 | | |
| 13,400,000 | |
| |
| |
| | | |
| 21,044,798 | |
The
weighted average remaining contractual life of warrants outstanding as of March 31, 2024, was 4.66 years (December 31, 2023 – 4.63
years).
16. SEGMENTED INFORMATION
The
Company organizes its three segments based on product lines as well as a Corporate segment. The three segments are Drones, Vital (Vital
Intelligence), and Corporate. The Drones segment derives its revenue from products and services related to the sale of unmanned aerial
vehicles (UAV). The Vital segment derives its revenue from the sale of products that measure vitals to help detect symptoms from large
groups of people from a distance. The Corporate segment includes all costs not directly associated with the Drone and Vital segments.
The Company aggregates the information for the segments by analyzing the revenue steam and allocating direct costs to that respective
segment. The Corporate segment is aggregated by relying on the entity that includes corporate costs (Draganfly Inc.).
SCHEDULE
OF SEGMENTED INFORMATION
March 31, 2024 | |
Drones | | |
Vital | | |
Corporate | | |
Total | |
Sales of goods | |
$ | 1,237,948 | | |
$ | - | | |
$ | - | | |
$ | 1,237,948 | |
Provision of services | |
| 91,633 | | |
| - | | |
| - | | |
| 91,633 | |
Total revenue | |
| 1,329,581 | | |
| - | | |
| - | | |
| 1,329,581 | |
Segment loss (income) | |
| 1,267,167 | | |
| - | | |
| (1,500,860 | ) | |
| (233,693 | ) |
Finance and other costs | |
| (21,522 | ) | |
| - | | |
| - | | |
| (21,522 | ) |
Depreciation | |
| 139,109 | | |
| - | | |
| 4,013 | | |
| 143,122 | |
Amortization | |
| 2,821 | | |
| - | | |
| - | | |
| 2,821 | |
Change in fair value of derivative liability | |
| - | | |
| - | | |
| 1,817,569 | | |
| 1,817,569 | |
Loss on write-off of notes receivable | |
| - | | |
| - | | |
| 6,751 | | |
| 6,751 | |
Loss on write down of inventory | |
| 148,760 | | |
| - | | |
| - | | |
| 148,760 | |
Net loss for the period | |
$ | 1,536,335 | | |
$ | - | | |
$ | 327,473 | | |
$ | 1,863,808 | |
March 31, 2023 | |
Drones | | |
Vital | | |
Corporate | | |
Total | |
Sales of goods | |
$ | 1,380,816 | | |
$ | - | | |
$ | - | | |
$ | 1,380,816 | |
Provision of services | |
| 220,670 | | |
| - | | |
| - | | |
| 220,670 | |
Total revenue | |
| 1,601,486 | | |
| - | | |
| - | | |
| 1,601,486 | |
Segment loss | |
| 4,545,828 | | |
| 73,817 | | |
| 2,397,614 | | |
| 7,017,259 | |
Segment loss (income) | |
| 4,545,828 | | |
| 73,817 | | |
| 2,397,614 | | |
| 7,017,259 | |
Finance and other costs | |
| (34,304 | ) | |
| - | | |
| (1,557 | ) | |
| (35,861 | ) |
Depreciation | |
| 55,113 | | |
| - | | |
| 2,393 | | |
| 57,506 | |
Amortization | |
| 8,989 | | |
| - | | |
| - | | |
| 8,989 | |
Change in fair value of derivative liability | |
| - | | |
| - | | |
| (57,314 | ) | |
| (57,314 | ) |
Loss on write-off of notes receivable | |
| 77,047 | | |
| - | | |
| - | | |
| 77,047 | |
Net loss for the period | |
$ | 4,652,673 | | |
$ | 73,817 | | |
$ | 2,341,136 | | |
$ | 7,067,626 | |
Draganfly
Inc.
Notes
to the Condensed Consolidated Interim Financial Statements
For
the Three Months Ended March 31, 2024
Expressed
in Canadian Dollars (unaudited)
16. |
SEGMENTED INFORMATION (CONT’D) |
Geographic
revenue is measured by aggregating sales based on the country and the entity where the sale was made.
SCHEDULE
OF GEOGRAPHIC REVENUE
| |
2024 | | |
2023 | |
Geographic segmentation is as follows: | |
For the three months ended March 31, | |
| |
2024 | | |
2023 | |
Non-current assets | |
| | | |
| | |
Canada | |
$ | 1,467,917 | | |
$ | 1,162,200 | |
United States | |
| 158,758 | | |
| - | |
| |
$ | 1,626,675 | | |
$ | 1,162,200 | |
Revenue | |
| | | |
| | |
Canada | |
$ | 1,327,333 | | |
$ | 1,592,094 | |
United States | |
| 2,248 | | |
| 9,392 | |
Revenue | |
$ | 1,329,581 | | |
$ | 1,601,486 | |
17. OFFICE AND MISCELLANEOUS
SCHEDULE OF OFFICE AND MISCELLANEOUS EXPENSES
| |
2024 | | |
2023 | |
| |
For the three months ended March 31, | |
| |
2024 | | |
2023 | |
Advertising, Marketing, and Investor Relations | |
$ | 110,073 | | |
$ | 2,306,452 | |
Compliance fees | |
| 64,031 | | |
| 27,307 | |
Impairment of accounts receivable | |
| - | | |
| 198,513 | |
Contract Work | |
| - | | |
| 47,081 | |
Other | |
| 172,166 | | |
| 221,299 | |
Office and Miscellaneous Expenses | |
$ | 346,270 | | |
$ | 2,800,652 | |
18.
OTHER EXPENSE
SCHEDULE OF OTHER EXPENSES
| |
2024 | |
2023 |
| |
For the three months ended March 31, |
| |
2024 | |
2023 |
Share issue costs | |
$ | 598,529 | | |
$ | - | |
Write off of accounts (payable) receivable | |
| (48,833 | ) | |
| - | |
Other | |
| 2,598 | | |
| 424 | |
Total Other expenses | |
$ | 525,948 | | |
$ | 424 | |
19.
RELATED PARTY
TRANSACTIONS
Trade
receivables/payables and accrued receivables/payables:
As
at March 31, 2024, the Company had $298,100
(2023 - $22,350)
payable to related parties that was included in accounts payable. The balances outstanding are unsecured, non-interest bearing and due
on demand.
Key
management compensation
Key
management personnel include those persons having authority and responsibility for planning, directing and controlling the activities
of the Company as a whole. Compensation awarded to key management for the three months ended March 31, 2024 and 2023 included:
SCHEDULE OF KEY COMPENSATION AWARDS
| |
2024 | | |
2023 | |
| |
For the three months ended March 31, | |
| |
2024 | | |
2023 | |
Director fees | |
$ | 152,438 | | |
$ | 151,663 | |
Salaries | |
| 142,068 | | |
| 102,115 | |
Share-based payments | |
| 122,112 | | |
| 263,242 | |
Total | |
$ | 416,618 | | |
$ | 517,020 | |
Draganfly
Inc.
Notes
to the Condensed Consolidated Interim Financial Statements
For
the Three Months Ended March 31, 2024
Expressed
in Canadian Dollars (unaudited)
Other
related party transactions
SCHEDULE OF KEY MANAGEMENT TRANSACTIONS
| |
2024 | | |
2023 | |
| |
For the three months ended March 31, | |
| |
2024 | | |
2023 | |
Management fees paid to a company controlled by CEO and director | |
$ | 106,250 | | |
$ | 100,000 | |
Management fees paid to a company that the CEO holds an economic interest in | |
| 60,000 | | |
| 103,629 | |
Management fees paid to a company controlled by the former President and director | |
| 40,433 | | |
| 58,398 | |
Management fees paid to a company, total | |
$ | 206,683 | | |
$ | 262,027 | |
20.
FINANCIAL
INSTRUMENTS AND FINANCIAL RISK MANAGEMENT
The
Company is exposed in varying degrees to a variety of financial instrument related risks. The Board of Directors approves and monitors
the risk management processes, inclusive of documented investment policies, counterparty limits, and controlling and reporting structures.
The type of risk exposure and the way in which such exposure is managed is provided as follows:
Credit
risk
Credit
risk is the risk that of an unexpected loss if a customer or third party fails to meet its contractual obligations.
The
Company is subject to credit risk on its cash and receivables. The majority of cash is deposited in bank accounts held with a major
bank in Canada and the United States. As most of the Company’s cash is held by one bank there is a concentration of credit risk.
This risk is managed by using major banks that are high credit quality financial institutions as determined by rating agencies.
Receivables
Receivables
primarily consist of trade receivables and taxes receivable. The Company provides credit in the normal course of business in the form
of payment terms and has an established process for determining terms to offer customers to mitigate credit risk. Receivables are shown
net of any provision made for impairment of the receivables. Due to this factor, the Company believes that no additional credit risk,
beyond amounts provided for collection loss, is inherent in receivables.
Expected
credit loss (“ECL”) analysis is performed at each reporting date using an objective approach to measure expected credit losses.
The provision amounts are based on direct management interface with the customer. The calculations reflect the probability-weighted outcome,
the time value of money and reasonable supportable information that is available at the reporting date about past events, current conditions
and forecasts of future economic conditions. Receivables are written off where there is no reasonable expectation of recovery. Indicators
that there is no reasonable expectation of recovery include, amongst others, business failure, the failure of a debtor to engage in a
repayment plan, and a failure to make contractual payments over the negotiated contract period.
Trade
receivables include balances of $170,211 that are past due with no corresponding allowance recorded.
The
Company does have past due outstanding receivables however the expected loss rate for undue balance is estimated to be nominal.
Draganfly
Inc.
Notes
to the Condensed Consolidated Interim Financial Statements
For
the Three Months Ended March 31, 2024
Expressed
in Canadian Dollars (unaudited)
20.
FINANCIAL INSTRUMENTS AND FINANCIAL RISK
MANAGEMENT (CONT’D)
Fair
value
A
number of the Company’s accounting policies and disclosures require the measurement of fair values for financial assets and liabilities.
The Company has established a control framework with respect to the measurement of fair values. Fair values are categorized into different
levels of a fair value hierarchy based on the inputs used in the valuation techniques as follows:
Level
1: quoted (unadjusted) prices in active markets for identical assets or liabilities.
Level
2: other techniques for which all inputs which have a significant effect on the recorded fair value are observable, either directly or
indirectly.
Level
3: techniques which use inputs which have a significant effect on the recorded fair value that are not based on observable market data.
Equity
securities in investee companies and warrants are measured at fair value. The financial assets and liabilities measured at fair value
by hierarchy are shown in the table below. The amounts shown are based on the amounts recognized in the condensed consolidated interim
statements of financial position. These financial assets are measured at fair value through profit and loss.
SCHEDULE OF FINANCIAL ASSETS MEASURED FAIR VALUE THROUGH PROFIT AND LOSS
March 31 2024 | |
Level 1 | | |
Level 3 | | |
Total | |
Cash and cash equivalents | |
$ | 4,339,736 | | |
$ | - | | |
$ | 4,339,736 | |
Equity securities in investee companies | |
| 42,857 | | |
| 135,500 | | |
| 178,357 | |
Derivative liability | |
| - | | |
| 4,033,574 | | |
| 4,033,574 | |
Total | |
$ | 4,382,593 | | |
$ | 4,169,074 | | |
$ | 8,551,667 | |
December 31, 2023 | |
Level 1 | | |
Level 3 | | |
Total | |
Cash and cash equivalents | |
$ | 3,093,612 | | |
| - | | |
$ | 3,093,612 | |
Equity securities in investee companies | |
$ | 57,143 | | |
$ | 132,260 | | |
$ | 189,403 | |
Derivative liability | |
| - | | |
| 4,196,125 | | |
| 4,196,125 | |
Total | |
$ | 3,150,755 | | |
$ | 4,328,385 | | |
$ | 7,479,140 | |
The
following table shows the valuation techniques used in measuring Level 3 fair values for the derivative liability as well as the significant
unobservable inputs used.
Type |
|
Valuation
technique |
|
Key
inputs |
|
Inter-relationship
between significant inputs and fair value measurement |
Warrant
derivative liability |
|
The
fair value of the warrants derivative liability at initial recognition and at year end has been calculated using the Black Scholes
Option Pricing Model |
|
Key
observable inputs
●
Share price
●
Risk free interest rate
●
Dividend yield
Key
unobservable inputs
●
Expected volatility |
|
The
estimated fair value would increase (decrease) if:
●
The price was higher (lower)
●
The risk-free rate was higher (lower)
●
The dividend yield was lower (higher)
●
The expected volatility was higher (lower) |
For
the fair value of the derivative liability, reasonable possible changes to the expected volatility, the most significant unobservable
input would have the following effects:
SCHEDULE OF FAIR VALUE FOR DERIVATIVE LIABILITY
| |
| | |
Impact on comprehensive loss | |
Unobservable Inputs | |
Change | | |
Three months ended
March 31, 2024 | | |
Year ended
December 31, 2023 | |
Volatility | |
| 20 | % | |
$ | 354,412 | | |
$ | 291,149 | |
21.
SUBSEQUENT
EVENT
May
1, 2024 the Company entered into a securities purchase agreement with a single institutional investor to purchase 13,513,514 units of
the Company, with each unit consisting of one common share (or one prefunded warrant to purchase one common share in lieu thereof) and
one warrant to purchase one common share. Each unit was sold at an offering price of US$ 0.259 for gross proceeds of approximately US$
3.5 million before deducting underwriting discounts and offering expenses.
Pursuant
to a prior underwritten public offering, the Company issued 6,400,000 common share warrants (the “October Warrants”) with
each warrant entitling the holder thereof to purchase one common share of the Company at an exercise price of US$ 0.6123, subject to
adjustment, until October 28, 2028. In connection with the closing of the offering above, the Company and the holder of the October Warrants
have entered into an amendment agreement whereby the exercise price of the October Warrants was reduced and converted to Canadian dollars
for a new exercise price of $ 0.3583 and the cashless exercise provision was removed.
Exhibit
99.2
![](https://www.sec.gov/Archives/edgar/data/1786286/000149315224019311/ex99-2_001.jpg)
Management
Discussion and Analysis
For
the Three Months ended March 31, 2024
Draganfly Inc. Management Discussion and Analysis For the three months ended March 31, 2024 |
This
Management’s Discussion and Analysis (“MD&A”) of Draganfly Inc. (“Draganfly” or the “Company”)
is presented and dated as of May 14, 2024, and should be read in conjunction with the unaudited consolidated interim financial
statements and related notes for the three months ended March 31, 2024 and the annual consolidated financial statements and related notes
for the year ended December 31, 2023. The Company’s audited consolidated financial statements have been prepared on a “going
concern” basis, which presumes that the Company will be able to realize its assets and discharge its liabilities in the normal
course of business for the foreseeable future.
The
operations of the Company have been primarily funded through its Regulation A+ Offering of units, its Nasdaq prospectus financing, internally
generated cashflow and private placements of equity and convertible debentures. The continued operations of the Company are dependent
on the Company’s ability to generate profitable operations in the future, develop and execute a sufficient financing plan for future
operations and receive continued financial support from shareholders and other providers of finance.
The
consolidated financial statements do not reflect the adjustments, if any, or changes in presentation that may be necessary should the
Company not be able to continue on a going concern basis.
All
currency amounts in the accompanying financial statements and this management discussion and analysis are in Canadian dollars unless
otherwise noted.
Special
Note Regarding Forward Looking Information
This
Management Discussion & Analysis is intended to provide readers with the information that management believes is required to gain
an understanding of the current results of the Company and to assess the Company’s future prospects. Accordingly, certain sections
of this report, other than statements of historical fact, may contain forward-looking statements that are based on current plans and
expectations and are subject to certain risks and uncertainties. These forward-looking statements include information about possible
or assumed future results of our business, financial condition, results of operations, liquidity, plans and objectives. In some cases,
you can identify forward-looking statements by terminology such as “believe,” “may,” “estimate,”
“continue,” “anticipate,” “intend,” “should,” “plan,” “expect,”
“predict,” “potential,” or the negative of these terms or other similar expressions.
The
statements we make regarding the following matters are forward-looking by their nature and are based on certain of the assumptions noted
below:
| ● | the
intentions, plans and future actions of the Company; |
| ● | statements
relating to the business and future activities of the Company; |
| ● | anticipated
developments in operations of the Company; |
| ● | market
position, ability to compete and future financial or operating performance of the Company; |
| ● | the
timing and amount of funding required to execute the Company’s business plans; |
| ● | capital
expenditures; |
| ● | the
effect on the Company of any changes to existing or new legislation or policy or government
regulation; |
| ● | the
availability of labor; |
| ● | requirements
for additional capital; |
| ● | goals,
strategies and future growth; |
| ● | the
adequacy of financial resources; |
| ● | expectations
regarding revenues, expenses and anticipated cash needs; |
| ● | general
market conditions and macroeconomic trends driven by geopolitical conflicts, including supply
chain disruptions, market volatility, inflation, and labor challenges, among other factors. |
Draganfly Inc. Management Discussion and Analysis For the three months ended March 31, 2024 |
The
preceding list is not intended to be an exhaustive list of all of our forward-looking statements. The forward-looking statements are
based on our beliefs, assumptions, and expectations of future performance, taking into account the information currently available to
us. Furthermore, unless otherwise stated, the forward-looking statements contained in these statements are made as of the date hereof,
and we have no intention and undertake no obligation to update or revise any forward-looking statements, whether as a result of new information,
future events, changes or otherwise, except as required by law.
These
statements are only predictions based upon our current expectations and projections about future events. There are important factors
that could cause our actual results, levels of activity, performance or achievements to differ materially from the results, levels of
activity, performance or achievements expressed or implied by the forward-looking statements. These include, without limitation, the
Company’s current and planned operations and the expected results of new operations and new clients. These risks and uncertainties
include, but are not restricted to:
| ● | The
Company’s history of losses; |
| ● | The
dilution of holdings in the Company’s securities; |
| ● | Research
and development costs; |
| ● | The
failure of new business models to produce financial returns; |
| ● | Operational
risks for which the Company may not be adequately insured; |
| ● | The
Company operates in an evolving market that makes it difficult to evaluate business and future
prospects; |
| ● | Competitive
market conditions and challenges from competitors; |
| ● | The
pace of technological change and the Company’s ability to stay on top of market and
technology changes; |
| ● | The
failure to obtain necessary regulatory approvals and permits or limitations placed on the
development, operation, and sale of unmanned aerial vehicles (“UAVs”) by governments; |
| ● | Risks
associated with any particular future acquisitions that would allow the company to provide
additional product or service offerings; |
| ● | The
Company’s ability to retain key employees and personnel and the Company’s ability
to manage growth; |
| ● | Adverse
economic changes; |
| ● | Negative
macroeconomic and geopolitical trends that could restrict the Company’s ability to
access capital; |
| ● | Uncertainties
associated with operations in foreign countries; |
| ● | Adverse
tax policies; |
| ● | An
inability to access critical components or raw materials used to manufacture the Company’s
products and supply chain disruptions; |
| ● | Weather
and other natural outdoor conditions that can imperil the use of UAVs; |
| ● | The
Company’s products may be subject to recalls or returns or defective products or services
that could negatively affect the Company’s operating results; |
| ● | An
inability to secure adequate funding for research and development; |
| ● | Export
controls or restrictions on the Company’s ability to deliver its product outside of
Canada; |
| ● | Consumer
perception regarding the use and safety of UAVs; |
| ● | A
failure to successfully market the Company’s products; |
| ● | Security
risks associated with electronic communications and IT infrastructure; |
| ● | Inadequate
consumer protection and data privacy practices; |
| ● | An
inability of our business partners to fulfill their obligations to us or to secure company
information; |
| ● | A
failure to protect the Company’s intellectual property, proprietary rights, and trade
secrets, including through a failure to adequately apply for or seek such protections; |
| ● | Failure
to adhere to financial reporting obligations and mandates associated with being a public
company; |
| ● | The
Company’s limited experience operating as publicly traded corporation; |
| ● | Changes
in accounting standards and subjective assumptions, estimates and judgments by management
related to complex accounting matters; |
| ● | Write-downs
of goodwill or other intangible assets; |
| ● | Legal
proceedings in which the Company may become involved; |
| ● | Conflicts
of interests among our directors and officers; |
Draganfly Inc. Management Discussion and Analysis For the three months ended March 31, 2024 |
| ● | Volatility
related to our share price; |
| ● | A
failure to maintain an active trading market for our common shares; |
| ● | The
Company may never pay dividends, and a return on an investment in the Company will depend
upon an appreciation in the price of our shares after purchase; |
| ● | The
Company may be classified as a “passive foreign investment company” for U.S.
federal income tax purposes; |
| ● | United
States investors may not be able to obtain an enforcement of civil liabilities against the
Company |
| ● | The
Company’s status as an “emerging growth company”; |
| ● | Increased
costs and compliance matters related to our status as a public company in the United States;
and |
| ● | The
Company’s status as a “foreign private issuer.” |
Readers
are cautioned to read more about the potential risks the Company faces under the heading “Business Risks” at the end of this
MD&A.
Non-GAAP
Measures and Additional GAAP Measures
In
this MD&A we describe certain income and expense items that are unusual or non-recurring. There are terms not defined by International
Financial Reporting Standards (“IFRS”). Our usage of these terms may vary from the usage adopted by other companies. Specifically,
Gross profit, Gross margin and Cash flow from operations are undefined terms by IFRS that may be referenced herein. We
provide this detail so that readers have a better understanding of the significant events and transactions that have had an impact on
our results.
Throughout
this document, reference is made to “gross profit,” “gross margin,” and “working capital”, which
are non-IFRS measures. Management believes that gross profit, defined as revenue less cost of sales, is a useful supplemental measure
of operations. Gross profit helps provide an understanding of the level of costs needed to create revenue. Gross margin illustrates the
gross profit as a percentage of revenue. Management believes that working capital, defined as current assets less current liabilities,
is an indicator of the Company’s liquidity and its ability to meet its current obligations. Readers are cautioned that these non-IFRS
measures may not be comparable to similar measures used by other companies. Readers are also cautioned not to view these non-IFRS financial
measures as an alternative to financial measures calculated in accordance with IFRS.
Core
Business and Strategy
Draganfly
creates quality, cutting-edge unmanned and remote data collection and analysis platforms and systems that are designed to revolutionize
the way companies do business. The Company is incorporated
under the British Columbia Business Corporations Act and has its registered office located at 2800 – 666 Burrard Street, Vancouver,
BC, V6C 2Z75 with a head office at 235 103rd St. E, Saskatoon, SK, S7N 1Y8.
Recognized
as being at the forefront of UAV (unmanned aerial vehicles) technology for two decades, Draganfly is an award-winning, industry-leading
manufacturer, contract engineering, and product development company within the commercial UAV space serving the public safety, agriculture,
industrial inspections, and mapping and surveying markets. Draganfly is a company driven by passion, ingenuity, and the need to provide
efficient solutions and first-class services to its customers around the world with the goal of saving time, money, and lives.
Founded
in 1998, Draganfly is recognized as one of the first commercial multi-rotor manufacturers and has a legacy for its innovation and superior
customer service. The company has sold products and services to over 50 countries.
Draganfly Inc. Management Discussion and Analysis For the three months ended March 31, 2024 |
Draganfly
can provide its customers with an entire suite of products and services that include quad-copters, fixed-wing aircrafts, handheld controllers,
flight training, and software used for tracking, live streaming, data collection, and health monitoring. The integrated UAV system is
equipped for automated take-offs and landings with altitude and return to home functions as well as in-house created survey software.
Draganfly’s standard features combined with custom fit camera payloads ranging from multi-spectral, hyper-spectral, LIDAR, thermal,
and infrared allows Draganfly to offer a truly unique solution to clients.
With
23 issued and one pending fundamental UAV patents in the portfolio, Draganfly will continue to expand and grow its intellectual property
portfolio.
Historically,
the main business of the Company was as a manufacturing company offering commercial UAVs directly to its customer base across various
industry verticals. The Company has evolved to offer drone solutions, including continuing to sell and develop its own OEM products,
providing engineering procurement, drone services, and reselling third party products.
Draganfly
works with its customers to customize a product or platform from idea to research and development (R&D) to completion and testing.
A work plan is created with timelines and budgets which includes materials, travel, testing, and engineering time. The work plan is approved
by the customer before work begins. To date, the majority of this work is considered proprietary in nature and is protected by trade
secrets and other intellectual property protections.
The
Company’s scope includes providing custom built parts, accessories, drone services, and the ability to sell third-party manufactured
UAVs along with support services.
On
February 26, 2024, the Company completed an underwritten share placement of 11,200,000 units with each unit consisting of one common
share and one warrant to purchase one common share and 2,200,000 units consisting of one pre-funded warrant to purchase one common share
and one warrant to purchase one common share. Each unit was sold at a price of $0.27 USD for gross proceeds of $3,617,780 million ($4,075,946
million CAD). Net proceeds of $3,289,520 million USD ($4,433,831 million CAD) was received after share issue costs of $328,260 USD ($442,450
thousand CAD). The pre-funded warrants have an exercise price of $0.0001 USD and were exercised on the date of issue bringing the total
gross proceeds to $3,618,000 USD. The remaining warrants have an exercise price of $0.36 USD and are exercisable immediately with a term
of 5 years. As part of this transaction 670,000 warrants were issued to the underwriter with an exercise price of $0.3375 USD and will
have a term of 3 years.
On
October 30, 2023, the Company completed a public offering and issued 6,400,000 share units at an offering price of USD $0.55 per unit
for gross proceeds of USD $3,520,000. The units were issued as follows: 4,800,000 units comprised of one share and one warrant and 1,600,000
units comprised of one pre-funded warrant with an exercise price of $0.0001 USD and have no expiry date, and one warrant. The warrants
had an exercise price of USD $0.61 per share, are exercisable immediately and expire five years from the date of issuance.
On
March 31, 2023 the Company closed an underwritten
public offering of 8,000,000 common shares at a price of $1.00 USD per share for total gross proceeds of $8,000,000 USD ($10,856,166
million CAD) with share issue costs of $1,443,163 USD ($1,953,032 million CAD) for net proceeds of $6,556,837 ($8,903,134 million CAD).
On
January 31, 2023, the Company entered into an equity distribution agreement. The agreement will allow the Company from time to time,
to distribute in an at-the-market offering (“ATM”) up to $15,000,000 (USD) in common shares. Draganfly intends to use the
net proceeds from the ATM for general corporate purposes, including to fund ongoing operations, growth initiatives and/or for
working capital requirements including the continuing development and marketing of the Company’s core products, potential
acquisitions and research and development.
From
February 1, 2023 to February 17, 2023, the Company distributed 650,759 ATM shares under the ATM offering at an average price of $2.69
per share for net proceeds of $1,526,810.
Draganfly Inc. Management Discussion and Analysis For the three months ended March 31, 2024 |
On
July 30, 2021, the Company’s shares began trading on the Nasdaq Capital Market (the “Nasdaq”) under the symbol “DPRO”.
The Company’s shares continue to trade on the Canadian Stock Exchange (the “CSE”), however, as of July 30, 2021 they
now trade under the symbol “DPRO” on that exchange as well. The Company’s shares also trade on the Frankfurt Stock
Exchange under the Symbol “3U8A”.
In
order to become compliant with Nasdaq regulations, the company also underwent a stock consolidation. Effective July 29, 2021, the Company
consolidated its issued and outstanding common shares on a 5 to 1 basis, which resulted in 27,045,909 common shares outstanding post-consolidation.
Subsequent
to the period ending March 31, 2024: May 1, 2024 the Company entered into a securities purchase agreement with a single institutional
investor to purchase 13,513,514 units of the Company, with each unit consisting of one common share (or one prefunded warrant to purchase
one common share in lieu thereof) and one warrant to purchase one common share. Each unit was sold at an offering price of US$ 0.259
for gross proceeds of approximately US$ 3.5 million before deducting underwriting discounts and offering expenses.
Pursuant
to a prior underwritten public offering, the Company issued 6,400,000 common share warrants (the “October Warrants”) with
each warrant entitling the holder thereof to purchase one common share of the Company at an exercise price of US$ 0.6123, subject to
adjustment, until October 28, 2028. In connection with the closing of the offering above, the Company and the holder of the October Warrants
have entered into an amendment agreement whereby the exercise price of the October Warrants was reduced and converted to Canadian dollars
for a new exercise price of $ 0.3583 and the cashless exercise provision was removed.
Additional
information relating to the Company may be found at the Company’s website, www.draganfly.com.
2024
Q1 Highlights
● | 2024
Q1 Total Revenues of $1,329,581 with Product Sales of $ 1,237,948 |
2024
Q1 revenues decreased by $271,905 from $1,601,486 in Q1 2023 to $1,329,581 with the bulk of this revenue coming from product revenue.
Service revenue decreased by $129,037 from $220,670 in Q1 2023 to $91,633 in Q1 2024.
● | Gross
Profit was $280,011 with a Gross Margin decrease of 6.6% in Q1 2024 compared to Q1 2023. |
In
Q1 2024, the Company’s total gross margin was 21.1% compared to 27.7% in Q1 2023.
● | Continued
Diversification of its Product and Services Offering |
Given
the Company’s deep engineering talent, the Company continues to expand its product and services available to its customers. Doing
this leverages the Company’s core skill set of innovation that tends to lead to future projects, bringing in more consistent revenue.
The Company continues to increase its scope of products and services to include the sale of third-party manufactured UAVs and drone-as-a-service
type work. Having a larger breadth of products and services, in part mitigates some risk for the Company given its offering covers a
broader market.
| ● | Risks
Related to Operations |
The
Company’s UAVs are sold in rapidly evolving markets. The commercial UAV market is in early stages of customer adoption. Accordingly,
the Company’s business and future prospects may be difficult to evaluate. The Company cannot accurately predict the extent to which
demand for its products and services will increase, if at all. The challenges, risks and uncertainties frequently encountered by companies
in rapidly evolving markets could impact the Company’s ability to do the following:
| ● | generate
sufficient revenue to maintain profitability; |
| ● | acquire
and maintain market share; |
| ● | achieve
or manage growth in operations; |
| ● | develop
and renew contracts; |
| ● | attract
and retain additional engineers and other highly qualified personnel; |
| ● | successfully
develop and commercially market new products; |
| ● | adapt
to new or changing policies and spending priorities of governments and government agencies;
and |
| ● | access
additional capital when required and on reasonable terms. |
For
further and more detailed risk disclosure, please reference “Business Risks” at the end of this MD&A.
Draganfly Inc. Management Discussion and Analysis For the three months ended March 31, 2024 |
Outlook
and Guidance
General
The
Company believes that drone regulations are gradually evolving in favor of additional use cases, which could lead to more revenue opportunities
from a greater pool of customers. The Company is positioned properly to take advantage of this dynamic given its legacy and ongoing innovative
product development coupled with being publicly traded providing greater market awareness than its private competitors. The Company will
increasingly focus on some of its growth initiatives beyond Canada and into the United States and abroad. All else being equal, accessing
more capital will help the Company expand and diversify its engineering and drone services businesses. The Company has already built
the infrastructure including human resources from an oversight, sales, and engineering perspective. Further, the Company will continue
to focus on innovation, product development, and expanding its hardware offerings opportunistically into niche segments of the UAV and
related sectors. Finally, the Company has considered providing various other non-engineering services and it may make more sense to buy
an existing industry player than to build out this offering. The Company expects to be active in this regard reviewing partnerships and
acquisitions in the current fiscal year and the near future.
Selected
Financial Information
The
following selected financial data has been extracted from the unaudited condensed consolidated interim financial statements, prepared
in accordance with International Financial Reporting Standards, for the fiscal years indicated and should be read in conjunction with
the unaudited condensed consolidated interim financial statements. All earnings per share calculations are shown post-consolidation.
| |
Three months ended March 31, | |
| |
2024 | | |
2023 | |
Total revenues | |
$ | 1,329,581 | | |
$ | 1,601,486 | |
Gross Margin (as a % of revenues) (1) | |
| 21.1 | % | |
| 27.7 | % |
Net income (loss) | |
| (1,863,808 | ) | |
| (7,067,626 | ) |
Net income (loss) per share ($) | |
| | | |
| | |
- Basic | |
| (0.03 | ) | |
| (0..20 | ) |
- Diluted | |
| (0.03 | ) | |
| (0.20 | ) |
Comprehensive income (loss) | |
| (1,884,416 | ) | |
| (7,096,995 | ) |
Comprehensive income (loss) per share ($) | |
| | | |
| | |
- Basic | |
| (0.03 | ) | |
| (0.20 | ) |
- Diluted | |
| (0.03 | ) | |
| (0.20 | ) |
Change in cash and cash equivalents | |
$ | 1,246,124 | | |
$ | 5,474,1555 | |
| (1) | Gross
Profit (as a % of revenues) would have been 32.2% and 32.5% not including a one-time non-cash
write down of inventory for $148,760 and $77,047 respectively for the three month period
ending March 31 2024 and 2023, respectively. |
Draganfly Inc. Management Discussion and Analysis For the three months ended March 31, 2024 |
The
net income (loss) and comprehensive income (loss) for the three months ended March 31, 2024, includes non-cash changes comprised of a
change in fair value of derivative liability of $1,817,569, a write down of inventory of $148,760, and an impairment gain on notes
receivable of $6,751. The net loss and comprehensive loss for the three month period ended March 31, 2024 would otherwise have been a
loss of $3,539,368 (2023 - $7,047,893 ) for the net loss, and a loss of $3,559,976 (2023 - $7,077,262) for the comprehensive
loss.
As at | |
March 31, 2024 | | |
December 31, 2023 | |
Total assets | |
$ | 8,990,548 | | |
$ | 8,330,292 | |
Working capital | |
| 534,226 | | |
| (717,017 | ) |
Total non-current liabilities | |
| 482,374 | | |
| 523,584 | |
Shareholders’ equity | |
$ | 1,678,527 | | |
$ | 407,716 | |
Number of shares outstanding | |
| 63,393,221 | | |
| 49,229,563 | |
Shareholders’
equity and working capital as at March 31, 2024, includes a fair value of derivative liability of $4,033,574 (2023 - $4,196,125) and
would otherwise be $5,712,101 (2023 - $4.603,841) and $4,567,800 (2023 - $3,479,108), respectively.
Results
of Operations
Revenue
| |
Three months ended March 31, | |
| |
2024 | | |
2023 | |
Sales of goods | |
$ | 1,237,948 | | |
$ | 1,380,816 | |
Provision of services | |
| 91,633 | | |
| 220,670 | |
Total revenue | |
$ | 1,329,581 | | |
$ | 1,601,486 | |
Total
revenue for the three months ended March 31, 2024, decreased by $271,905 or 17% as compared to Q1 2023. The decrease in revenue is largely
due to decreased revenue from the sales of goods from Draganfly Innovations USA, Inc. (“DI USA”) and Dronelogics Systems
Inc. (“Dronelogics”).
Services
revenue decreased $129,037 or 58.5% in Q1 2024 as compared to Q1 2023. The decrease in revenue is largely due to decreased service revenue
from Dronelogics.
Cost
of sales / Gross Margin
| |
Three months ended March 31, | |
| |
2024 | | |
2023 | |
Cost of sales (1) | |
$ | (1,049,570 | ) | |
$ | (1,158,052 | ) |
Gross profit | |
$ | 280,011 | | |
$ | 443,434 | |
Gross margin (%) | |
| 21.1 | % | |
| 27.7 | % |
| (1) | Cost
of sales would have been $900,810 and $1,081,005 not including a one-time non-cash write
down of inventory for $148,760 and $77,047, respectively for the three month periods ending
March 31, 2024 and 2023 respectively. |
Gross
profit is the difference between the revenue received and the direct cost of that revenue. Gross margin is gross profit divided by revenue
and is often presented as a percent.
Draganfly Inc. Management Discussion and Analysis For the three months ended March 31, 2024 |
For
the three months ended March 31, 2024, the Company’s Gross Profit decreased by $163,423 or 36.9% compared to Q1 2023. As a percentage
of sales, gross margin decreased from 27.7% in Q1 2023 to 21.1% in Q1 2024. Not including the one-time non-cash write down of inventory
of $148,760 (2023 - $77,047), the Company’s Gross Profit decreased by $91,710 or 17.6% compared to Q1 2023. The decrease in gross
margin percentage was due to a larger decrease in sales than in cost of sales.
Selling,
General, and Administrative (SG&A)
| |
Three months ended March 31, | |
| |
2024 | | |
2023 | |
Insurance | |
$ | 364,274 | | |
$ | 498,006 | |
Office and Miscellaneous | |
| 346,270 | | |
| 2,800,652 | |
Professional Fees | |
| 580,260 | | |
| 847,187 | |
Research and development | |
| 121,391 | | |
| 793,224 | |
Share-based payments | |
| 198,907 | | |
| 540,563 | |
Travel | |
| 40,019 | | |
| 89,262 | |
Wages and salaries | |
| 1,581,431 | | |
| 1,821,081 | |
Total | |
$ | 3,232,552 | | |
$ | 7,389,975 | |
For
the three months ended March 31, 2024, SG&A expenses decreased by 56.3%, from $7,389,975 in Q1 2023 to $3,232,552 in
Q1 2024. The largest contributors to the decrease are professional fees, research and development, office and miscellaneous, and share-based
compensation.
Net
and Comprehensive Income (Loss)
| |
Three months ended March 31, | |
| |
2024 | | |
2023 | |
Loss from operations | |
$ | (3,250,922 | ) | |
$ | (7,164,699 | ) |
Change in fair value of derivative liability | |
| 1,817,569 | | |
| 57,314 | |
Finance and other costs | |
| (21,522 | ) | |
| 35,861 | |
Foreign exchange gain (loss) | |
| 66,736 | | |
| (18,156 | ) |
Gain (loss) on disposal of assets | |
| 43,528 | | |
| 21,203 | |
Recovery of notes receivable | |
| 6,751 | | |
| 1,275 | |
Income from government assistance | |
| - | | |
| - | |
Other income (loss) | |
| (525,948 | ) | |
| (424 | ) |
Net income (loss) | |
| (1,863,808 | ) | |
| (7,067,626 | ) |
Cumulative translation differences | |
| (9,562 | ) | |
| (86,402 | ) |
Change in fair value of equity investments at FVOCI | |
| (11,046 | ) | |
| 57,033 | |
Comprehensive income (loss) | |
$ | (1,884,416 | ) | |
$ | (7,096,995 | ) |
For
the three months ended March 31, 2024, the Company recorded a comprehensive loss of $1,884,416 compared to comprehensive loss
of $7,096,995 in Q1 2023.
Draganfly Inc. Management Discussion and Analysis For the three months ended March 31, 2024 |
The
net and comprehensive loss for the three months ended March 31, 2024, includes non-cash changes comprised of a change in fair value
of derivative liability of $1,817,569, a write down of inventory of $148,760, and a recovery of notes receivable of $6,751 and
would otherwise be a loss of $3,539,368 and comprehensive loss of $3,559,976. The net and comprehensive loss for the same
period last year, included a gain in fair value of derivative liability of $57,314 and an inventory write down of $77,047 and would otherwise
be a loss of $7,047,893 and a comprehensive loss of $7,077,262.
Authorized
share capital
Unlimited
number of common shares without par value.
Issued
share capital
During
the three months ended March 31, 2024,
| ● | The
Company issued 63,658 common shares for the vesting of restricted share units. |
| ● | The
Company issued 3,800,000 common shares for the exercise of warrants |
| ● | The
Company issued 11,200,000 units consisting of one common share and one warrant and 2,200,00
units consisting of one prefunded warrant and one warrant in a financing for $4,877,475 with
share issuance costs of $752,498 for net proceeds of $4,274,391. Of the total share issuance
costs $441,166 were expensed in other income (expense). Value of the issuance was allocated
$2,017,966 to the shares, and $2,859,509 to the warrants, including $431,084 allocated to
prefunded warrants. The prefunded warrants were exercised on the date of issue. |
| ● | 900,000
shares were returned to treasury that were held in escrow related to the Vital Intelligence
Inc. acquisition for failure to meet required milestones. All value that had been recorded
related to these shares had been previously written off. |
During
the year ended December 31, 2023,
| ● | The
Company issued 1,508,255 common shares for the vesting of restricted share units. |
| ● | The
Company issued 8,000,000 common shares in a financing for $10,856,166 with share issuance
costs of $1,953,032 for net proceeds of $8,903,134. |
| ● | The
Company issued 650,729 common shares in an ATM (“At – the - market”) financing
for $1,748,946 with share issuance costs of $222,136 for net proceeds of $1,526,810. |
| ● | The
Company issued 4,800,000 common shares in a financing for proceeds of $4,858,995 with share
issuance costs of $889,623 for net proceeds of $3,969,372. Of the total share issuance costs
$793,979 were expensed in other income (expense). Value of the issuance was allocated
$520,064 to the shares and $4,338,931 to derivative liability. |
Summary
of Quarterly Results
The
following selected quarterly financial data has been extracted from the financial statements, prepared in accordance with International
Financial Reporting Standards.
Total
revenue for the three months ended March 31, 2024, decreased by $271,905 or 17.0% as compared to the same period in 2023. The decrease
was mainly due to lower revenue from services.
SG&A
expenses for the three months ended March 31, 2024 decreased 56.3% compared to the same period in 2023 due to decreased professional
fees, research and development, office and miscellaneous, and share-based compensation. The other income (expense) and comprehensive
loss for the first quarter of 2024 includes non-cash changes of a change in fair value of derivative liability of $1,817,569,
a write down of inventory of $148,760, an impairment recovery on notes receivable of $6,751 and
would otherwise be an other expense of $45,506 and comprehensive loss of $3,559,976, respectively.
Total
revenue for the three months ended March 31, 2024, increased by $413,282 or 45.1% as compared to the three months ended December 31,
2023. The primary increase in revenue is due to the increase in product revenue. Product sales increased by $566,140 or 84.3% in the
first quarter of 2024 as compared to the fourth quarter of 2023 primarily due to increased demand.
Draganfly Inc. Management Discussion and Analysis For the three months ended March 31, 2024 |
SG&A
expenses increased by $56,735 or 1.79% compared to the fourth quarter of 2023 due to increased wages and salaries partially
offset by a decrease travel and office and miscellaneous.
The
table below summarizes the quarterly results over the past eight fiscal quarters. All earnings per share calculations are shown post-consolidation.
| |
2024 Q1 | | |
2023 Q4 | | |
2023 Q3 | | |
2023 Q2 | |
Revenue | |
$ | 1,329,581 | | |
$ | 916,299 | | |
$ | 2,138,018 | | |
$ | 1,899,039 | |
Cost of sales(2) | |
$ | (1,049,570 | ) | |
$ | (657,420 | ) | |
$ | (1,243,334 | ) | |
$ | (1,431,922 | ) |
Gross profit(3) | |
$ | 280,011 | | |
$ | 258,879 | | |
$ | 894,684 | | |
$ | 467,117 | |
Gross margin – percentage | |
| 21.1 | % | |
| 28.3 | % | |
| 41.8 | % | |
| 24.6 | % |
Operating expenses | |
$ | (3,530,933 | ) | |
$ | (3,482,141 | ) | |
$ | (6,356,138 | ) | |
$ | (7,234,034 | ) |
Operating income (loss) | |
$ | (3,250,922 | ) | |
$ | (3,223,262 | ) | |
$ | (5,461,454 | ) | |
$ | (6,766,917 | ) |
Operating loss per share - basic | |
$ | (0.05 | ) | |
$ | (0.08 | ) | |
$ | (0.13 | ) | |
$ | (0.15 | ) |
Operating loss per share - diluted | |
$ | (0.05 | ) | |
$ | (0.08 | ) | |
$ | (0.13 | ) | |
$ | (0.15 | ) |
Other income (expense) | |
$ | 1,387,114 | | |
$ | (965,075 | ) | |
$ | 14,569 | | |
$ | (142,046 | ) |
Change in fair value of derivative liability (1) | |
$ | 1,817,569 | | |
$ | 153,798 | | |
$ | - | | |
$ | - | |
Other comprehensive income (loss) | |
$ | (20,608 | ) | |
$ | (3,461 | ) | |
$ | (83,363 | ) | |
$ | 18,152 | |
Comprehensive income (loss) | |
$ | (1,884,416 | ) | |
$ | (4,191,796 | ) | |
$ | (5,530,248 | ) | |
$ | (6,890,812 | ) |
Comprehensive income (loss) per share - basic | |
$ | (0.03 | ) | |
$ | (0.13 | ) | |
$ | (0.13 | ) | |
$ | (0.15 | ) |
Comprehensive income (loss) per share - diluted | |
$ | (0.03 | ) | |
$ | (0.13 | ) | |
$ | (0.13 | ) | |
$ | (0.15 | ) |
| |
2023 Q1 | | |
2022 Q4 | | |
2022 Q3 | | |
2022 Q2 | |
Revenue | |
$ | 1,601,486 | | |
$ | 1,314,162 | | |
$ | 1,876,221 | | |
$ | 2,370,115 | |
Cost of sales | |
$ | (1,158,052 | ) | |
$ | (2,980,133 | ) | |
$ | (1,249,313 | ) | |
$ | (1,356,526 | ) |
Gross profit | |
$ | 443,434 | | |
$ | (1,665,971 | ) | |
$ | 626,908 | | |
$ | 1,013,589 | |
Gross margin – percentage | |
| 27.7 | % | |
| -126.8 | % | |
| 33.4 | % | |
| 42.8 | % |
Operating expenses | |
$ | (7,608,133 | ) | |
$ | (7,342,669 | ) | |
$ | (7,007,691 | ) | |
$ | (7,176,445 | ) |
Operating loss | |
$ | (7,164,699 | ) | |
$ | (9,008,640 | ) | |
$ | (6,380,783 | ) | |
$ | (6,162,856 | ) |
Operating loss per share - basic | |
$ | (0.21 | ) | |
$ | (0.26 | ) | |
$ | (0.19 | ) | |
$ | (0.19 | ) |
Operating loss per share - diluted | |
$ | (0.21 | ) | |
$ | (0.26 | ) | |
$ | (0.19 | ) | |
$ | (0.19 | ) |
Other income (expense) | |
$ | 97,073 | | |
$ | (7,575,889 | ) | |
$ | 1,039,968 | | |
$ | 6,638,171 | |
Change in fair value of derivative liability (1) | |
$ | 57,314 | | |
$ | 334,016 | | |
$ | 305,094 | | |
$ | 6,094,438 | |
Other comprehensive income (loss) | |
| (29,369 | ) | |
$ | (76,073 | ) | |
$ | 348,282 | | |
$ | 165,009 | |
Comprehensive income (loss) | |
$ | (7,096,995 | ) | |
$ | (16,660,602 | ) | |
$ | (4,992,533 | ) | |
$ | 640,324 | |
Comprehensive income (loss) per share - basic | |
$ | (0.20 | ) | |
$ | (0.49 | ) | |
$ | (0.15 | ) | |
$ | 0.02 | |
Comprehensive income (loss) per share - diluted | |
$ | (0.20 | ) | |
$ | (0.49 | ) | |
$ | (0.15 | ) | |
$ | 0.02 | |
|
(1) |
Included
in other income (expense). |
|
(2) |
Cost
of goods sold would have been $900,810 in Q1 2024 not including a one-time non-cash write down of inventory for $148,760. For the
comparative quarters cost of goods sold not including inventory writedowns of $77,047 in Q1 2023, $122,600 in Q2 2023, $8,600 in
Q3 2023 and $123,424 in Q4 2023 would have been $1,081,005 in Q1 2023, $1,309,322 in Q2, $1,234,734 in Q3, and $533,996 in Q4 2023
before these write downs. |
|
(3) |
Gross
profit would have been $428,771 not including a one-time non-cash write down of inventory for $148,760 (2023 - $77,047). Gross profit
would have been $520,481 in Q1 2023, $589,717 in Q2 2023, $903,283 in Q3 2023 and $382,303 in Q4 2023 without the write downs. Gross
profit would have been $310,543 in Q4 of 2022 without the write downs. |
Draganfly Inc. Management Discussion and Analysis For the three months ended March 31, 2024 |
Liquidity
and Capital Resources
The
Company’s liquidity risk is derived from its loans, accounts payable, and accrued liabilities, as it may encounter difficulty discharging
those obligations, but the Company endeavors to mitigate that risk through the careful management of its debt holders and the assertive
pursuit of capital inflow for its operations. The Company’s working capital of $534,226 as at March 31, 2024 would be increased
to $4,567,800 if the non-cash derivative liability was excluded. The Company’s working capital at December 31, 2023 was a deficit
of $717,017 and would be increased to a surplus of $3,479,108 if the non-cash derivative liability was excluded.
The
Company considers the items included in capital to include shareholders’ equity. The Company manages its capital structure and
makes adjustments to it in light of changes in economic and business conditions, financing environment, and the risk characteristics
of the underlying assets. The Company does not have any contracted or committed capital expenditures as of the date of this MD&A.
The Company utilizes its credit card facilities from time to time to make various purchases for their operations.
Pursuant
to a prior underwritten public offering, the Company issued 6,400,000 common share warrants (the “October Warrants”) with
each warrant entitling the holder thereof to purchase one common share of the Company at an exercise price of US$ 0.6123, subject to
adjustment, until October 28, 2028. In connection with the closing of the offering above, the Company and the holder of the October Warrants
have entered into an amendment agreement whereby the exercise price of the October Warrants was reduced and converted to Canadian dollars
for a new exercise price of $ 0.3583 and the cashless exercise provision was removed.
On
February 26, 2024, the Company completed an underwritten share placement of 11,200,000 units with each unit consisting of one common
share and one warrant to purchase one common share and 2,200,000 units consisting of one pre-funded warrant to purchase one common share
and one warrant to purchase one common share. Each unit was sold at a price of $0.27 USD for gross proceeds of $3,617,780 million ($4,075,946
million CAD). Net proceeds of $3,289,520 million USD ($4,433,831 million CAD) was received after share issue costs of $328,260 USD ($442,450
thousand CAD). The pre-funded warrants have an exercise price of $0.0001 USD and were exercised on the date of issue bringing the total
gross proceeds to $3,618,000 USD. The remaining warrants have an exercise price of $0.36 USD and are exercisable immediately with a term
of 5 years. As part of this transaction 670,000 warrants were issued to the underwriter with an exercise price of $0.3375 USD and will
have a term of 3 years.
On
May 1, 2024 the Company entered into a securities purchase agreement with a single institutional investor to purchase 13,513,514 units
of the Company, with each unit consisting of one common share (or one prefunded warrant to purchase one common share in lieu thereof)
and one warrant to purchase one common share. Each unit was sold at an offering price of US$ 0.259 for gross proceeds of approximately
US$ 3.5 million before deducting underwriting discounts and offering expenses.
Further,
in order to maintain or adjust its capital structure, the Company may issue new shares, new debt, or scale back the size and nature of
its operations. The Company is not subject to externally imposed capital requirements.
The
Company’s ability to continue as a going concern is dependent upon its ability to obtain additional financing and or achieve profitable
operations in the future. These factors indicate the existence of a material uncertainty that may cast significant doubt on the Company’s
ability to continue as a going concern. Based on the Company’s existing operations, the Company will need to raise additional capital
during the next twelve months and beyond to support its business plan.
We
expect, from time to time, to evaluate the acquisition of businesses, intellectual property, products and technologies for which a portion
of the net proceeds may be used. There is always the potential that any acquisition or investment in a company or product has a negative
impact on future cash flows of the Company.
Our
plan of operations for the next year includes the following: (i) ensure production capacity is adequate to meet demand for products;
(ii) continuing to hone existing product offerings; (iii) streamline workflow efficiencies; (iv) diversifying and expanding business
lines organically and by considering potential acquisitions; (v) continuing to patent innovative ideas for new products; and (vi) developing
and increasing current product offering to various niche industries that are not currently being served.
As
of the date of this MD&A, we cannot predict with certainty all of the particular uses for the net proceeds received from the closing
of past financings. The amounts and timing of our actual expenditures may vary significantly depending on numerous factors.
Draganfly Inc. Management Discussion and Analysis For the three months ended March 31, 2024 |
Off-Balance
Sheet Arrangements
The
Company has no material undisclosed off-balance sheet arrangements that have or are reasonably likely to have, a current or future effect
on our results of operations, financial condition, revenues or expenses, liquidity, capital expenditures or capital resources.
Contractual
Obligations
As
of March 31, 2024, and as of the date of this MD&A, and in the normal course of business, the following is a summary of the Company’s
material obligations to make future payments, representing contracts, and other commitments that are known and committed.
Right
of Use Assets
| |
Vehicles | | |
Buildings | | |
Land | | |
Total | |
Balance at December 31, 2022 | |
$ | 2,385 | | |
$ | 342,361 | | |
$ | - | | |
$ | 344,746 | |
Additions | |
| - | | |
| 322,354 | | |
| 418,001 | | |
| 740,355 | |
Depreciation | |
| (2,385 | ) | |
| (149,644 | ) | |
| (211,057 | ) | |
| (363,086 | ) |
Foreign exchange translation | |
| - | | |
| - | | |
| (328 | ) | |
| (328 | ) |
Balance at December 31, 2023 | |
$ | - | | |
$ | 515,071 | | |
$ | 206,616 | | |
$ | 721,687 | |
Additions | |
$ | - | | |
$ | - | | |
$ | - | | |
$ | - | |
Depreciation | |
| - | | |
| (35,681 | ) | |
| (52,777 | ) | |
| (88,458 | ) |
Foreign exchange translation | |
| - | | |
| - | | |
| 4,919 | | |
| 4,919 | |
Balance at March 31, 2024 | |
$ | - | | |
$ | 479,390 | | |
$ | 158,758 | | |
$ | 638,148 | |
The
Company added two new leases during the year ended December 31, 2023. A lease for land in the amount of $418,001 with an expiration
date of December 31, 2024, and another lease for a facility in the amount of $322,354 with an expiration date of September 30, 2028.
The Company has five leases with expiration dates of December 31, 2023, December 31, 2024, May 31, 2026, January 31, 2027, and September
30, 2028
Lease
Liability
As at | |
Total | |
Balance at December 31, 2022 | |
$ | 378,643 | |
Interest expense | |
| 96,423 | |
Additions | |
| 734,903 | |
Lease payments | |
| (423,410 | ) |
Foreign exchange translation | |
| 3,464 | |
Balance at December 31, 2023 | |
| 790,023 | |
Interest expense | |
| 20,323 | |
Lease payments | |
| (101,440 | ) |
Foreign exchange translation | |
| (1,064 | ) |
Balance at March 31, 2024 | |
$ | 707,842 | |
Which consists of:
| |
March 31, 2024 | | |
December 31, 2023 | |
Current lease liability | |
$ | 316,931 | | |
$ | 362,001 | |
Non-current lease liability | |
| 390,911 | | |
| 428,022 | |
Ending balance | |
$ | 707,842 | | |
$ | 790,023 | |
Draganfly Inc. Management Discussion and Analysis For the three months ended March 31, 2024 |
Maturity analysis | |
Total | |
Less than one year | |
$ | 372,356 | |
One to three years | |
| 334,746 | |
Four to five years | |
| 114,937 | |
Total undiscounted lease liabilities | |
| 822,039 | |
Amount representing interest | |
| (114,197 | ) |
| |
$ | 707,842 | |
Related
Party Transactions
On
August 1, 2019, the Company entered in a business services agreement (the “Agreement”) with Business Instincts Group (“BIG”),
a company that Cameron Chell, CEO and director has a material interest in that he previously controlled, to provide: corporate development
and governance, strategic facilitation and management, general business services, office space, corporate business development video
content, website redesign and management, and online visibility management. The services are provided by a team of consultants and the
costs of all charges are based on the fees set in the Agreement. For the three months ended March 31, 2024, the company incurred fees
of $60,000 (2023 - $103,629). As at March 31, 2024, the Company was indebted to this company in the amount of $nil (2023 - $4,850).
On
October 1, 2019, the Company entered into an independent consultant agreement (“Consultant Agreement”) with 1502372 Alberta
Ltd, a company controlled by Cameron Chell, CEO and director, to provide executive consulting services to the Company. The costs of all
charges are based on the fees set in the Consultant Agreement. For the three months ended March 31, 2024, the Company incurred fees of
$106,250 (2023 - $100,000). As at March 31, 2024, the Company was indebted to this company in the amount of $nil (2023 - $nil).
On
July 3, 2020, the Company entered into an executive consultant agreement (“Executive Agreement”) with Scott Larson, a director
of the Company, to provide executive consulting services, as President, to the Company. On May 9, 2022, Scott Larson ceased to be President
of the Company and entered into an agreement to provide executive consulting services to the Company and all fees are set in the consulting
agreement. For the three months ended March 31, 2024, the Company incurred fees of $40,433 (2023 - $58,398). As at March 31, 2024, the
Company was indebted to this company in the amount of $nil (2023 - $17,500).
Trade
receivables/payables and accrued receivables/payables:
As
at March 31, 2024, the Company had $nil (2023 - $nil) receivable from related parties outstanding that were included in accounts receivable
and $298,100 (2023 - $22,350) payable to related parties that was included in accounts payable. The balances outstanding are unsecured,
non-interest bearing and due on demand.
Key
management compensation
Key
management personnel include those persons having authority and responsibility for planning, directing and controlling the activities
of the Company as a whole. Compensation awarded to key management for the three months ended March 31, 2024 and 2023 included:
| |
For the three months ended March 31, | |
| |
2024 | | |
2023 | |
Director fees | |
$ | 152,438 | | |
$ | 151,663 | |
Salaries | |
| 142,068 | | |
| 102,115 | |
Share-based payments | |
| 122,112 | | |
| 263,242 | |
| |
$ | 416,618 | | |
$ | 517,020 | |
Draganfly Inc. Management Discussion and Analysis For the three months ended March 31, 2024 |
Other
related parties
| |
For the three months ended March 31, | |
| |
2024 | | |
2023 | |
Management fees paid to a company controlled by CEO and director | |
$ | 106,250 | | |
$ | 100,000 | |
Management fees paid to a company that the CEO holds an economic interest in | |
| 60,000 | | |
| 103,629 | |
Management fees paid to a company controlled by the former President and director | |
| 40,433 | | |
| 58,398 | |
| |
$ | 206,683 | | |
$ | 262,027 | |
Share
Capital
| |
Number
of Common Shares | | |
Share
Capital | |
Balance,
December 31, 2022 | |
| 34,270,579 | | |
$ | 83,600,089 | |
Shares
issued for financing - ATM | |
| 650,729 | | |
| 1,748,946 | |
Share
issue costs | |
| - | | |
| (222,136 | ) |
Shares
issued for financing | |
| 12,800,000 | | |
| 11,376,230 | |
Share
issue costs | |
| - | | |
| (2,072,886 | ) |
Shares
issued for the exercise of RSU’s | |
| 1,508,255 | | |
| 2,640,733 | |
Balance,
December 31, 2023 | |
| 49,229,563 | | |
| 97,070,976 | |
Shares
issued for financing | |
| 11,200,000 | | |
| 2,017,966 | |
Share
issue costs | |
| - | | |
| (338,836 | ) |
Shares
issued for the exercise of warrants | |
| 3,800,000 | | |
| 1,205,005 | |
Shares
returned to treasury | |
| (900,000 | ) | |
| - | |
Shares
issued for the exercise of RSU’s | |
| 63,658 | | |
| 68,751 | |
Balance,
March 31, 2024 | |
| 63,393,221 | | |
| 100,023,862 | |
Stock
options
The
following is the summary of the Company’s stock option activity. Number of options and weighted average exercise prices in the
table below are shown as they were outstanding, forfeited, granted, and exercised:
| |
Number of Options | | |
Weighted Average Exercise Price | |
Outstanding, December 31, 2022 | |
| 877,157 | | |
$ | 4.60 | |
Forfeited | |
| (9,999 | ) | |
| 3.77 | |
Issued | |
| 30,000 | | |
| 0.63 | |
Outstanding, December 31, 2023 | |
| 897,158 | | |
$ | 4.48 | |
Forfeited | |
| (8,335 | ) | |
| 10.15 | |
Outstanding, March 31, 2024 | |
| 888,823 | | |
$ | 4.42 | |
Draganfly Inc. Management Discussion and Analysis For the three months ended March 31, 2024 |
Restricted
Share Units (RSUs)
The
following is the summary of the Company’s RSU activity. Number of RSUs in the table below are shown as they were outstanding, exercised,
forfeited, and issued:
| |
Number of RSUs | |
Outstanding, December 31, 2022 | |
| 1,198,875 | |
Vested | |
| (1,508,255 | ) |
Issued | |
| 1,685,316 | |
Forfeited | |
| (262,969 | ) |
Outstanding, December 31, 2023 | |
| 1,112,967 | |
Vested | |
| (63,658 | ) |
Forfeited | |
| (36,203 | ) |
Outstanding, March 31, 2024 | |
| 1,013,106 | |
Warrants
During
the three months ended March 31, 2024 and the year ended December 31, 2023, the Company issued pre-funded warrants (“USD pre-funded
Warrants”) where a portion of the funds related to the eventual exercise have already been received with the remaining exercise
price in USD. Being in a foreign currency that is not the Company’s functional currency and these pre-funded warrants were not
issued in exchange for services, the value related to the future exercise price of the USD pre-funded Warrants are required to be recorded
as a financial liability and not as equity. As a financial liability, the portion of the USD pre-funded Warrants related to the future
exercise price will be revalued on a quarterly basis to fair market value with the change in fair value being recorded in profit or loss.
The initial fair value of these USD pre-funded Warrants was parsed out from equity and recorded as a financial liability.
During
the three months ended March 31, 2024 and the year ended December 31, 2023, the Company issued warrants (“USD Warrants”)
with a USD exercise price. Being in a currency that is not the Company’s functional currency and these warrants were not issued
in exchange for services, these USD Warrants are required to be recorded as a financial liability and not as equity. As a financial liability,
these USD Warrants are revalued on a quarterly basis to fair market value with the change in fair value being recorded profit or loss.
The initial fair value of these USD Warrants was parsed out from equity and recorded as a financial liability. To reach a fair value
of the USD Warrants, a Black Scholes calculation is used, calculated in USD as the Company also trades on the Nasdaq. The Black Scholes
value per USD Warrant is then multiplied by the number of outstanding warrants and then multiplied by the foreign exchange rate at the
end of the period from the Bank of Canada.
To
reach a fair value of the USD Warrants, a Black Scholes calculation is used, calculated in USD as the Company also trades on the Nasdaq.
The Black Scholes value per USD Warrant is then multiplied by the number of outstanding warrants and then multiplied by the foreign exchange
rate at the end of the period. At the date of issue the warrants were valued with a risk free rate of 4.33%, volatility of 119.23%, expected
life of 5 years and an expected dividend yield rate of 0%. The broker warrants were valued with a risk free rate of 4.48%, volatility
of 107.8%, expected life of 3 years and an expected dividend yield of 0%.
Draganfly Inc. Management Discussion and Analysis For the three months ended March 31, 2024 |
Warrant
Derivative Liability
Balance at December 31, 2022 | |
$ | - | |
Warrants issued | |
| 3,985,015 | |
Change in fair value of warrants outstanding | |
| 211,110 | |
Balance at December 31, 2023 | |
$ | 4,196,125 | |
Warrants issued | |
| 2,859,509 | |
Warrants exercised | |
| (1,204,491 | ) |
Change in fair value of warrants outstanding | |
| (1,817,569 | ) |
Balance at March 31, 2024 | |
$ | 4,033,574 | |
Derivative liability balance at | |
March 31, 2024 | | |
December 31, 2023 | |
Warrants | |
$ | 4,033,574 | | |
$ | 4,196,125 | |
The
contingent liability is related to an acquisition on March 22, 2021, whereby 1,200,000 warrants were issued and 900,000 were held in
escrow and classified as a contingent liability that was to be released upon completion of the milestones. The warrants expired on March
25, 2023.
Details
of these warrants and their fair values are as follows:
Issue Date |
| Exercise Price |
| |
Number of Warrants Outstanding at March 31, 2024 | | |
Fair Value at March 31, 2024 | | |
Number of Warrants Outstanding at December 31, 2023(5) | | |
Fair Value at December 31, 2023 | |
October 30, 2023 (1) |
| US$ |
0.6123 |
| |
| 6,400,000 | | |
| 1,130,828 | | |
| 6,400,000 | | |
| 3,180,543 | |
October 30, 2023 (2) |
| US$ |
0.0001 |
| |
| - | | |
| - | | |
| 1,600,000 | | |
| 1,015,582 | |
February 26, 2024 (3) |
| US$ |
0.1761 |
| |
| 13,400,000 | | |
| 2,902,746 | | |
| - | | |
| - | |
February 26, 2024 (4) |
| US$ |
0.17 |
| |
| - | | |
| - | | |
| - | | |
| - | |
|
| |
|
| |
| 19,800,000 | | |
$ | 4,033,574 | | |
| 8,000,000 | | |
$ | 4,196,125 | |
|
1) |
The
warrants expire October 30, 2028. |
|
2) |
The
warrants have no expiry date. They were exercised January 5, 2024. |
|
3) |
The
warrants expire February 26, 2029. |
|
4) |
The
warrants have no expiry date. They were exercised February 26, 2024. |
The
fair values of these warrants were estimated using the Black-Scholes Option Pricing Model with the following weighted average assumptions:
| |
March 31, 2024 | | |
December 31, 2023 | |
Risk free interest rate | |
| 4.21 | % | |
| 3.84 | % |
Expected volatility | |
| 119.47 | % | |
| 113.78 | % |
Expected life | |
| 4.6 - 4.91 years | | |
| 4.8 years | |
Expected dividend yield | |
| 0 | % | |
| 0 | % |
Draganfly Inc. Management Discussion and Analysis For the three months ended March 31, 2024 |
| |
Number of Warrants | | |
Weighted Average Exercise Price | |
Outstanding, December 31, 2022 | |
| 7,916,797 | | |
$ | 5.08 | |
Issued | |
| 8,320,000 | | |
| 0.50 | |
Expired | |
| (7,661,999 | ) | |
| 5.89 | |
Outstanding, December 31, 2023 | |
| 8,574,798 | | |
$ | 0.63 | |
Issued | |
| 16,270,000 | | |
| 0.22 | |
Exercised | |
| (3,800,000 | ) | |
| 0.0001 | |
Outstanding March 31, 2024 | |
| 21,044,798 | | |
$ | 0.51 | |
As
at March 31, 2024, the Company had the following warrants outstanding:
Date issued | |
Expiry date | |
Exercise price | | |
Number of warrants outstanding | |
July 29, 2021 | |
July 29, 2024 | |
| US$ 5.00 | | |
| 250,000 | |
September 14, 2021 | |
September 14, 2024 | |
| US$ 5.00 | | |
| 4,798 | |
October 30, 2023 | |
October 30, 2026 | |
| US$ 0.6875 | | |
| 320,000 | |
October 30, 2023 | |
October 30, 2028 | |
| US$ 0.6123 | | |
| 6,400,000 | |
February 26, 2024 | |
February 26, 2027 | |
| US$ 0.3375 | | |
| 670,000 | |
February 26, 2024 | |
February 26, 2029 | |
| US$ 0.1761 | | |
| 13,400,000 | |
| |
| |
| | | |
| 21,044,798 | |
The
weighted average remaining contractual life of warrants outstanding as of March 31, 2024, was 4.66 years (December 31, 2023 – 4.63
years).
Critical
Accounting Policies and Estimates
Significant
estimates and assumptions
The
preparation of consolidated financial statements in accordance with IFRS requires the Company to make estimates and assumptions about
reported amounts at the date of the consolidated financial statements and in the future. The Company’s management reviews these
estimates and underlying assumptions on an ongoing basis, based on experience and other factors, including expectations of future events
that are believed to be reasonable under the circumstances. Revisions to estimates are adjusted for prospectively in the period in which
the estimates are revised.
Share-based
payments
The
cost of share-based payment transactions with directors, officers and employees are measured by reference to the fair value of the equity
instruments. Estimating fair value for share-based payment transactions requires determining the most appropriate valuation model, which
is dependent on the terms and conditions of the grant. This estimate also requires determining and making assumptions about the most
appropriate inputs to the valuation model including the expected life, volatility, risk-free interest rate, expected forfeiture rate
and dividend yield.
Income
taxes
Provisions
for income taxes are made using the best estimate of the amount expected to be paid based on a qualitative assessment of all relevant
factors. The Company reviews the adequacy of these income tax provisions at the end of each reporting period. However, it is possible
that at some future date an additional liability could result from audits by tax authorities. Where the final outcome of these tax-related
matters is different from the amounts that were initially recorded, such differences will affect the tax provisions in the period in
which such determination is made. Deferred tax assets are recognized when it is determined that the Company is likely to recognize their
recovery from the generation of taxable income.
Draganfly Inc. Management Discussion and Analysis For the three months ended March 31, 2024 |
Inventory
Inventory
is valued at the lower of cost and net realizable value. Net realizable value is determined with reference to the estimated selling price
less costs to sell. The Company estimates selling price based upon assumptions about future demand and current and anticipated retail
market conditions. The future realization of these inventories may be affected by future technology or other market- driven changes that
may reduce future selling prices.
Investments
in Private companies
Where
the fair value of investments in private companies recorded on the consolidated statement of financial position cannot be derived
from active markets, they are determined using a variety of valuation techniques. The inputs to these models are derived from
observable market data where possible, but where observable market data is not available, judgment is required to establish fair
value and this value may not be indicative of the eventual recoverable value.
Expected
credit losses on trade receivables and notes receivable
When
determining expected credit losses (“ECLs”), the Company considers the historic credit losses observed by the Company, customer-specific
payment history and economic conditions. When determining whether the credit risk of a financial asset has increased significantly since
initial recognition and when estimating ECL’s, the Company considers reasonable and supportable information that is relevant and
available without undue cost or effort. This includes both quantitative and qualitative information and analysis, based on the Company’s
historical experience, informed credit assessment and forward-looking information.
Useful
lives of equipment and intangible assets
Estimates
of the useful lives of equipment and intangible assets are based on the period over which the assets are expected to be available for
use. The estimated useful lives are reviewed annually and are updated if expectations differ from previous estimates due to physical
wear and tear, technical or commercial obsolescence, and legal or other limits on the use of the relevant assets. In addition, the estimation
of the useful lives of the relevant assets may be based on internal technical evaluation and experience with similar assets. It is possible,
however, that future results of operations could be materially affected by changes in the estimates brought about by changes in the factors
mentioned above. The amounts and timing of recorded expenses for any period would be affected by changes in these factors and circumstances.
A reduction in the estimated useful lives of the equipment would increase the recorded expenses and decrease the non-current assets.
Other
Significant judgements
The
preparation of consolidated financial statements in accordance with IFRS requires the Company to make judgments, apart from those involving
estimates, in applying accounting policies. The most significant judgments applied to the Company’s consolidated financial statements
include:
|
● |
The
assessment of the Company’s ability to continue as a going concern and whether there are events or conditions that may give
rise to significant uncertainty; |
|
● |
the
classification of financial instruments; |
|
● |
the
assessment of revenue recognition using the five-step approach under IFRS 15 and the collectability of amounts receivable; |
|
● |
the
determination of whether a set of assets acquired and liabilities assumed constitute a business; and |
|
● |
the
determination of the functional currency of each entity in the group. |
Draganfly Inc. Management Discussion and Analysis For the three months ended March 31, 2024 |
Foreign
currency translation
Transactions
in foreign currencies are translated into the functional currency at rates of exchange at the time of such transactions. Monetary assets
and liabilities are translated at the reporting period rate of exchange. Non-monetary assets and liabilities are translated at historical
exchange rates. Gains and losses resulting from foreign exchange adjustments are included in profit or loss.
The
functional currencies of the parent company and each subsidiary are as follows:
Draganfly
Inc. |
Canadian
Dollar |
Draganfly
Innovations Inc. |
Canadian
Dollar |
Draganfly
Innovations USA, Inc. |
US
Dollar |
Dronelogics
Systems Inc. |
Canadian
Dollar |
Financial
statements of subsidiaries for which the functional currency is not the Canadian dollar are translated into Canadian dollars as follows:
all asset and liability accounts are translated at the year-end exchange rate and all revenue and expense accounts and cash flow statement
items are translated at average exchange rates for the year. The resulting translation gains and losses are recorded as exchange differences
on translation of foreign operations in other comprehensive loss.
Share-based
payments
The
Company may grant stock options or restricted share units (“RSU’s”) to its directors, officers, employees and consultants.
The Company records share-based compensation related to stock options using the Black-Scholes Option Pricing Model.
The
RSU’s granted entitle an employee, director or officer to either the issuance of common shares or cash payments payable upon vesting
with terms determined by the Company’s Board of Directors at the time of the grant. If on the grant date it is determined there
is an obligation to settle in cash, the RSU’s are accounted for as liabilities, with the fair value remeasured at the end of each
reporting period and on the settlement date. Changes in fair value are recognized in profit and loss. Expense is recognized over the
vesting period.
The
Company has a present obligation to settle in cash if the choice of settlement in shares has no commercial substance, or the Company
has a past practice or a stated policy of setting in cash, or generally settles in cash whenever the counterparty asks for cash settlement.
If no such obligation exists, RSUs are accounted for as equity settled share-based payments and are valued using the share price on grant
date. Upon settlement:
a) | If
the Company elects to settle in cash, the cash payment is accounted for as the repurchase
of an equity interest (i.e. as a deduction from equity), except as noted in (c) below. |
b) | If
the Company elects to settle by issuing shares, the value of RSUs initially recognized in
reserves is reclassified to share capital, except as noted in (c) below. |
c) | If
the Company elects the settlement alternative with the higher fair value, as at the date
of settlement, the Company recognizes an additional expense for the excess value given (i.e.
the difference between the cash paid and the fair value of shares that would otherwise have
been issued, or the difference between the fair value of the shares and the amount of cash
that would otherwise have been paid, whichever is applicable). |
The
aggregate sales price or amount of common shares issued during any consecutive 12-month period will not exceed the greatest of the following:
(i) USD $1,000,000; (ii) 15% of the total assets of the Company, measured at the Company’s most recent balance sheet date; or (iii)
15% of the outstanding amount of the common shares of the Company, measured at the Company’s most recent balance sheet date. At
the election of the Board of Directors, upon each vesting date, participants receive (a) the issuance of common shares from treasury
equal to the number of RSUs vesting, or (b) a cash payment equal to the number of vested RSUs multiplied by the fair market value of
a common share, calculated as the closing price of the common shares on the CSE for the trading day immediately preceding such payment
date; or (c) a combination of (a) and (b).
Draganfly Inc. Management Discussion and Analysis For the three months ended March 31, 2024 |
In
conjunction with private placements or brokered financings, the Company may issue compensatory warrants to agents as consideration for
services provided. Awards of grants are accounted for in accordance with the fair value method of accounting and result in an increase
in share issue costs and a credit to warrants within shareholders’ equity when warrants are issued.
Loss
per share
Basic
loss per share is calculated by dividing the loss attributable to common shareholders by the weighted average number of common shares
outstanding in the year.
Diluted
income per share is calculated by dividing the profit attributable to common shareholders of the parent by the weighted average number
of common shares outstanding during the year plus the weighted average number of common shares that would be issued on the conversion
of all the dilutive potential common shares into common shares. The Company had 8,574,798 warrants, 897,158 options and 1,112,967 RSU’s
that would be potentially dilutive if the Company were not in a loss position and were to calculate diluted income per share.
Financial
Instruments
Financial
instruments are accounted for in accordance with IFRS 9 Financial Instruments: Classification and Measurement. A financial instrument
is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.
Financial
assets/liabilities |
|
Classification |
Cash
and cash equivalents |
|
Fair
value through profit or loss |
Receivables |
|
Amortized
cost |
Notes
receivable |
|
Fair
value through profit or loss |
Investments |
|
Fair
value through other comprehensive income |
Trade
payables |
|
Amortized
cost |
Customer
deposits |
|
Amortized
cost |
Loans
payable |
|
Amortized
cost |
Derivative
liability |
|
Fair
value through profit or loss |
Classification
and measurement
The
Company classifies its financial assets in the following categories: at fair value through profit or loss (“FVTPL”), at fair
value through other comprehensive income (“FVTOCI”) or at amortized cost. The classification depends on the purpose for which
the financial assets were acquired. Management determines the classification of its financial assets at initial recognition.
The
classification of debt instruments is driven by the business model for managing the financial assets and their contractual cash flow
characteristics. Debt instruments are measured at amortized cost if the business model is to hold the instrument for collection of contractual
cash flows and those cash flows are solely principal and interest. If the cash flows are not solely principal and interest, it is classified
as FVTPL. Financial assets with embedded derivatives are considered in their entirety when determining whether their cash flows are solely
payments of principal and interest.
Equity
instruments that are held for trading (including all equity derivative instruments) are classified as FVTPL, for other equity
instruments, on the day of acquisition the Company can make an irrevocable election (on an instrument by-instrument basis) to
designate them as at FVTOCI.
Draganfly Inc. Management Discussion and Analysis For the three months ended March 31, 2024 |
Financial
assets at FVTPL
Financial
assets carried at FVTPL are initially recorded at fair value and transaction costs are recorded to profit or loss. Realized and unrealized
gains and losses arising from changes in the fair value of financial assets held at FVTPL are included in the profit or loss in the period
in which they arise. Derivatives are also categorized as FVTPL unless they are designated as hedges.
Financial
assets at FVTOCI
Financial
assets carried at FVTOCI are initially recognized at fair value plus transaction costs. Subsequently they are measured at fair value,
with gains and losses arising from changes in fair value recognized in other comprehensive income. There is no subsequent reclassification
of fair value gains and losses to profit or loss following the derecognition of the investment.
Financial
assets at amortized cost
Financial
assets at amortized cost are initially recognized at fair value and subsequently carried at amortized cost less any impairment. They
are classified as current assets or non-current assets based on their maturity date.
Impairment
of financial assets at amortized cost
The
Company recognizes a loss allowance for expected credit losses on financial assets that are measured at amortized cost. At each reporting
date, the loss allowance for the financial asset is measured at an amount equal to the lifetime expected credit losses if the credit
risk on the financial asset has increased significantly since initial recognition. If at the reporting date, the financial asset has
not increased significantly since initial recognition, the loss allowance is measured for the financial asset at an amount equal to twelve
month expected credit losses. For trade receivables the Company applies the simplified approach to providing for expected credit losses,
which allows the use of a lifetime expected loss provision.
Impairment
losses on financial assets carried at amortized cost are reversed in subsequent periods if the amount of the loss decreases and the decrease
can be objectively related to an event occurring after the impairment was recognized.
Derecognition
of financial assets
Financial
assets are derecognized when the risks and rewards of ownership have been transferred. Gains and losses on derecognition of financial
assets classified as FVTPL or amortized cost are recorded to profit or loss. Gains or losses on financial assets classified as FVTOCI
remain within accumulated other comprehensive loss.
The
Company classifies its financial liabilities into one of two categories as follows:
FVTPL
- This category comprises derivatives and financial liabilities incurred principally for the purpose of selling or repurchasing in the
near term. They are carried at fair value with changes in fair value recognized in profit or loss.
Other
financial liabilities - This category consists of liabilities carried at amortized cost using the effective interest method. Trade payables,
customer deposits and loans payable are included in this category.
Derecognition
of financial liabilities
Financial
liabilities are derecognized when its contractual obligations are discharged, cancelled, or expire. The Company also derecognizes a financial
liability when the terms of the liability are modified such that the terms and/or cash flows of the modified instrument are substantially
different, in which case a new financial liability based on the modified terms is recognized at fair value. Gains and losses on derecognition
are recognized in profit or loss.
Draganfly Inc. Management Discussion and Analysis For the three months ended March 31, 2024 |
Impairment
of non-financial assets
The
carrying amounts of the non-financial assets are reviewed at each reporting date to determine whether there is any indication of impairment.
If indicators exist, then the asset’s recoverable amount is estimated. The recoverable amounts of the following types of intangible
assets are measured annually, whether or not there is any indication that it may be impaired:
| ● | an
intangible asset with an indefinite useful life; and |
| ● | an
intangible asset not yet available for use; |
The
recoverable amount of an asset or cash-generating unit (“CGU”) is the greater of its value in use and its fair value less
costs
to sell. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate
that reflects current market assessments of the time value of money and the risks specific to the asset.
If
there is an indication that a corporate asset may be impaired, then the recoverable amount is determined for the CGU to which the corporate
asset belongs.
An
impairment loss is recognized if the carrying amount of an asset or its CGU exceeds its estimated recoverable amount. Impairment losses
are recognized in profit or loss. Impairment losses recognized in respect of CGUs are allocated first to reduce the carrying amount of
any goodwill allocated to the CGU, and then to reduce the carrying amounts of the other assets in the CGU on a pro rata basis.
In
respect of assets other than goodwill and intangible assets that have indefinite useful lives, impairment losses recognized in prior
periods are assessed at each reporting date for any indications that the loss has decreased or no longer exists. An impairment loss is
reversed in a subsequent period when there has been an increase in the recoverable amount of a previously impaired asset or CGU. An impairment
loss is reversed only to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been determined,
net of depreciation or amortization, if no impairment loss had been recognized.
Income
taxes
Current
income tax
Current
income tax assets and liabilities for the current period are measured at the amount expected to be recovered from or paid to the taxation
authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the reporting
date, in the countries where the Company operates and generates taxable income.
Current
income taxes relating to items recognized directly in other comprehensive income or equity is recognized in other comprehensive income
or equity and not in profit or loss. Management periodically evaluates positions taken in the tax returns with respect to situations
in which applicable tax regulations are subject to interpretation and establishes provisions where appropriate.
Deferred
income tax
Deferred
income tax is recognized, using the asset and liability method, on temporary differences at the reporting date arising between the tax
bases of assets and liabilities and their carrying amounts for financial reporting. The carrying amount of deferred income tax assets
is reviewed at the end of each reporting period and recognized only to the extent that it is probable that sufficient taxable profit
will be available to allow all or part of the deferred income tax asset to be utilized. Deferred income tax assets and liabilities are
measured at the tax rates that are expected to apply to the year when the asset is realized or the liability is settled, based on tax
rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred income tax assets and
deferred income tax liabilities are offset, if a legally enforceable right exists to set off current tax assets against current income
tax liabilities and the deferred income taxes relate to the same taxable entity and the same taxation authority.
Draganfly Inc. Management Discussion and Analysis For the three months ended March 31, 2024 |
Inventory
Inventory
consists of raw materials and finished goods for manufacturing of multi-rotor helicopters, industrial areal video systems, civilian small
unmanned aerial systems or vehicles, health monitoring equipment, and wireless video systems. Inventory is initially valued at cost and
subsequently at the lower of cost and net realizable value. Cost is determined using the first-in-first-out method. The cost of inventories
comprises all costs of purchase, costs of conversion and other costs incurred in bringing the inventories to their present location and
condition. The costs of purchase include the purchase price, import duties and non-recoverable taxes and transport, handling and other
costs directly attributable to the acquisition of finished goods, materials or services. The costs of conversion include direct materials
and labour costs and a systematic allocation of fixed and variable overheads incurred in converting materials into finished goods. The
Company reviews inventory for obsolete and slow-moving goods and any such inventory is written-down to net realizable value.
Revenue
recognition
Revenue
comprises the fair value of consideration received or receivable for the sale of goods and consulting services in the ordinary course
of the Company’s business. Revenue is shown net of return allowances and discounts.
Sales
of goods
The
Company manufactures and sells a range of multi-rotor helicopters, industrial aerial video systems, and civilian small unmanned aerial
systems or vehicles. Sales are recognized at a point-in-time when control of the products has transferred. The control transfer for Dronelogics
Systems Inc. (“Dronelogics”) and Draganfly Innovations USA, Inc. is when the products are shipped to the customer and there
is no unfulfilled obligation that could affect the customer’s acceptance of the products. At this point revenue is recognized.
For Draganfly Innovations Inc. transfer occurs for sales outside of North America when shipped and for sales within North America on
delivery which occurs in proximity to shipping. Revenue is recognized when the transfer of control has occurred.
Revenue
from these sales is recognized based on the price specified in the contract, net of the estimated discounts and returns. Accumulated
experience is used to estimate and provide for the discounts and returns, using the expected value method, and revenue is only recognized
to the extent that it is highly probable that a significant reversal will not occur. To date, returns have not been significant. No element
of financing is deemed present as the sales are made with a credit term of 30 days, which is consistent with market practice.
Some
contracts include multiple performance obligations, such as the sale of hardware and support or maintenance. Where support or maintenance
is performed by another party and does not include an integration service it is accounted for as a separate performance obligation. In
this case, the transaction price will be allocated to each performance obligation based on stand-alone selling price. Where the stand-alone
selling price is not directly observable, the price is estimated based on expect cost plus margin. Where the support or maintenance is
provided by the Company, the contract is analyzed to identify the performance obligations and transaction price. The price is then allocated
across the obligations identified in the contract. Revenue is recognized when the Company satisfies a performance obligation.
Services
The
Company provides consulting, custom engineering, drones as a service, and investigating and solving on a project-by-project basis under
fixed-price and variable price contracts. Revenue from providing services is recognized over time as the services are rendered.
The
Company provides rental of equipment which is measured based on rates through contracts or other written agreements with customers. Revenue
is recognized in the period when services are performed and only when there is reasonable assurance that the revenue will be collected.
Draganfly Inc. Management Discussion and Analysis For the three months ended March 31, 2024 |
Deferred
Income
A
payment received is included as deferred revenue when products have yet to be shipped to the customers as of the period end or there
are unfulfilled obligations related to the revenue received. The amount to be recognized within twelve months following the year-end
date is classified as current.
Cost
of Goods Sold
Cost
of sales includes the expenses incurred to acquire and produce inventory for sale, including product costs, freight costs, as well as
provisions for reserves related to product shrinkage, or lower of cost and net realizable value adjustments as required.
Intangible
Assets
An
intangible asset is an identifiable asset without physical substance. An asset is identifiable if it is separable, or arises from contractual
or legal rights, regardless of whether those rights are transferrable or separable from the Company or from other rights and obligations.
Intangible assets include intellectual property, which consists of patent and trademark applications, brands and software.
Intangible
assets acquired externally are measured at cost less accumulated amortization and impairment losses. The cost of a group of intangible
assets acquired is allocated to the individual intangible assets based on their relative fair values. The cost of intangible assets acquired
externally comprises its purchase price and any directly attributable cost of preparing the asset for its intended use. Research and
development costs incurred subsequent to the acquisition of externally acquired intangible assets and on internally generated intangible
assets are accounted for as research and development costs.
Intangible
assets with finite useful lives are amortized on a straight-line basis over the expected life of each intellectual property to write
off the cost of the assets from the date they are available for use.
Class
of intangible asset |
|
Useful
live |
Customer
relationship |
|
5
years |
Brand |
|
5
years |
Software |
|
5
years |
Patents |
|
5
years |
Goodwill
represents the excess of the value of the consideration transferred over the fair value of the net identifiable assets and liabilities
acquired in a business combination. Goodwill is allocated to the cash generating unit to which it relates.
Equipment
Equipment
is stated at historical cost less accumulated depreciation and accumulated impairment losses.
Subsequent
costs are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that
future economic benefits associated with the item will flow to the Company and the cost of the item can be measured reliably. The carrying
amount of the replaced part is derecognized. All other repairs and maintenance are charged to the consolidated statement of comprehensive
loss during the financial period in which they are incurred.
Gains
and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognized in the consolidated statement
of comprehensive loss.
Draganfly Inc. Management Discussion and Analysis For the three months ended March 31, 2024 |
Depreciation
is generally calculated on a declining balance method to write off the cost of the assets to their residual values over their estimated
useful lives. Depreciation for leasehold improvements is fully expensed over the expected term of the lease. The depreciation rates applicable
to each category of equipment are as follows:
Class
of equipment |
|
Depreciation
rate |
Computer
equipment |
|
3
year straight line |
Furniture
and equipment |
|
5
year straight line |
Leasehold
improvements |
|
Expected
lease term |
Vehicles |
|
30%
declining balance |
Research
and development expenditures
Expenditures
on research are expensed as incurred. Research activities include formulation, design, evaluation and final selection of possible alternatives,
products, processes, systems or services. Development expenditures are expensed as incurred unless the Company can demonstrate all of
the following:
| (i) | the
technical feasibility of completing the intangible asset so that it will be available for
use or sale; |
| (ii) | its
intention to complete the intangible asset and use or sell it; |
| (iii) | its
ability to use or sell the intangible asset; |
| (iv) | how
the intangible asset will generate probable future economic benefits. The Company can also
demonstrate the existence of a market for the output of the intangible asset or the intangible
asset itself or, if it is to be used internally, the usefulness of the intangible asset; |
| (v) | the
availability of adequate technical, financial and other resources to complete the development
and to use or sell the intangible asset; and |
| (vi) | its
ability to measure reliably the expenditure attributable to the intangible asset during its
development. |
Government
assistance
Government
grants are recognized when there is reasonable assurance that the grant will be received and all attached conditions will be
complied with. When the grant relates to an expense item, it is recognized as income on a systematic basis over the period that the
related costs, for which it is intended to compensate, are expensed. When the grant relates to an asset, the cost of the asset is
reduced by the amount of the grant and the grant is recognized as income in equal amounts over the expected useful life of the
asset.
Leases
A
contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in
exchange for consideration. At the commencement date, the lease liability is recognized at the present value of the future lease payments
and discounted using the interest rate implicit in the lease or the Company’s incremental borrowing rate. A corresponding right-of-use
(“ROU”) asset will be recognized at the amount of the lease liability, adjusted for any lease incentives received and initial
direct costs incurred. Over the term of the lease, financing expense is recognized on the lease liability using the effective interest
rate method and charged to net income, lease payments are applied against the lease liability and depreciation on the ROU asset is recorded
by class of underlying asset.
The
lease term is the non-cancellable period of a lease and includes periods covered by an optional lease extension option if reasonably
certain the Company will exercise the option to extend. Conversely, periods covered by an option to terminate are included if the Company
does not expect to end the lease during that time frame. Leases with a term of less than twelve months or leases for underlying low value
assets are recognized as an expense in net income on a straight-line basis over the lease term.
Draganfly Inc. Management Discussion and Analysis For the three months ended March 31, 2024 |
A
lease modification will be accounted for as a separate lease if it materially changes the scope of the lease. For a modification that
is not a separate lease, on the effective date of the lease modification, the Company will remeasure the lease liability and corresponding
ROU asset using the interest rate implicit in the lease or the Company’s incremental borrowing rate. Any variance between the remeasured
ROU asset and lease liability will be recognized as a gain or loss in net income to reflect the change in scope.
BUSINESS
RISKS
The
Company does engage in significant transactions and activities in currencies other than its functional currency. Depending on the timing
of the transactions and the applicable currency exchange rates such conversions may positively or negatively impact the Company.
An
investment in the Company’s Common Shares is highly speculative and involves significant risks. In addition to the other information
contained in this MD&A and the documents incorporated by reference herein and therein, you should review and carefully consider
the risks described herein. The risks described herein are not the only risk factors facing us and should not be considered
exhaustive. Additional risks and uncertainties not currently known to us, or that we currently consider immaterial, may also materially
and adversely affect our business, operations and condition, financial or otherwise.
Risks
Related to the Company, its Business and Industry
The
Company has a history of losses.
The
Company has incurred net losses since its inception. The Company cannot assure that it can become profitable or avoid net losses
in the future or that there will be any earnings or revenues in any future quarterly or other periods. The Company expects that
its operating expenses will increase as it grows its business, including expending substantial resources for research, development
and marketing. As a result, any decrease or delay in generating revenues could result in material operating losses.
A
shareholder’s holding in the Company may be diluted if the Company issues additional Common Shares or other securities in
the future.
The
Company may issue additional Common Shares or other securities in the future, which may dilute a shareholder’s holding
in the Company. The Company’s articles permit the issuance of an unlimited number of Common Shares, and shareholders
have no pre-emptive rights in connection with further issuances of any securities. The directors of the Company have the discretion
to determine if an issuance of Common Shares or other securities is warranted, the price at which any such securities
are issued and the other terms of issue of Common Shares or securities. In addition, the Company may issue additional
Common Shares upon the exercise of incentive stock options to acquire Common Shares under its share compensation plan
or upon the exercise or conversion of other outstanding convertible securities of the Company, which will result in further dilution
to shareholders. In addition, the issuance of Common Shares or other securities in any potential future acquisitions,
if any, may also result in further dilution to shareholder interests.
Draganfly Inc. Management Discussion and Analysis For the three months ended March 31, 2024 |
The
Company expects to incur substantial research and development costs and devote significant resources to identifying and commercializing
new products and services, which could significantly reduce its profitability and may never result in revenue to the Company.
The
Company’s future growth depends on penetrating new markets, adapting existing products to new applications, and introducing
new products and services that achieve market acceptance. The Company plans to incur substantial research and development costs
as part of its efforts to design, develop and commercialize new products and services and enhance its existing products. The
Company believes that there are significant opportunities in a number of business areas. Because the Company accounts for research
and development costs as operating expenses, these expenditures will adversely affect its earnings in the future. Further,
the Company’s research and development programs may not produce successful results, and its new products and services
may not achieve market acceptance, create any additional revenue or become profitable, which could materially harm the Company’s
business, prospects, financial results and liquidity.
Shortfalls
in available external research and development funding could adversely affect the Company.
The
Company depends on its research and development activities to develop the core technologies used in its UAV products and for
the development of the Company’s future products. A portion of the Company’s research and development activities
can depend on funding by commercial companies and the Canadian government. Canadian government and commercial spending levels
can be impacted by a number of variables, including general economic conditions, specific companies’ financial performance
and competition for Canadian government funding with other Canadian government-sponsored programs in the budget formulation
and appropriation processes. Moreover, the Canadian, federal and provincial governments provide energy rebates and incentives
to commercial companies, which directly impact the amount of research and development that companies appropriate for energy
systems. To the extent that these energy rebates and incentives are reduced or eliminated, company funding for research and
development could be reduced. Any reductions in available research and development funding could harm the Company’s
business, financial condition and operating results.
The
Company’s adoption of new business models could fail to produce any financial returns.
Forecasting
the Company’s revenues and profitability for new business models is inherently uncertain and volatile. The Company’s
actual revenues and profits for its business models may be significantly less than the Company’s forecasts. Additionally,
the new business models could fail for one or more of the Company’s products and/or services, resulting in the loss of
Company’s investment in the development and infrastructure needed to support the new business models, and the opportunity
cost of diverting management and financial resources away from more successful businesses.
The
Company will be affected by operational risks and may not be adequately insured for certain risks.
The Company will be affected by a number of operational risks and the Company may not be adequately insured for certain risks,
including: labour disputes; catastrophic accidents; fires; blockades or other acts of social activism; changes in the regulatory
environment; impact of non-compliance with laws and regulations; natural phenomena, such as inclement weather conditions, floods,
earthquakes and ground movements. There is no assurance that the foregoing risks and hazards will not result in damage to,
or destruction of, the Company’s technologies, personal injury or death, environmental damage, adverse impacts on
the Company’s operation, costs, monetary losses, potential legal liability and adverse governmental action, any of which
could have an adverse impact on the Company’s future cash flows, earnings and financial condition. Also, the Company
may be subject to or affected by liability or sustain loss for certain risks and hazards against which the Company cannot insure
or which the Company may elect not to insure because of the cost. This lack of insurance coverage could have an adverse impact
on the Company’s future cash flows, earnings, results of operations and financial condition.
Draganfly Inc. Management Discussion and Analysis For the three months ended March 31, 2024 |
The
Company operates in evolving markets, which makes it difficult to evaluate the Company’s business and future prospects.
The
Company’s unmanned aerial vehicles (“UAVs”) are sold in rapidly evolving markets. The commercial UAV market
is in early stages of customer adoption. Accordingly, the Company’s business and future prospects may be difficult to evaluate.
The Company cannot accurately predict the extent to which demand for its products and services will increase, if at all. The
challenges, risks and uncertainties frequently encountered by companies in rapidly evolving markets could impact the Company’s
ability to do the following:
|
● |
generate sufficient revenue
to reach and maintain profitability; |
|
● |
acquire and maintain market
share; |
|
● |
achieve or manage growth
in operations; |
|
● |
develop and renew contracts; |
|
● |
attract and retain additional
engineers and other highly-qualified personnel; |
|
● |
successfully develop and
commercially market new products; |
|
● |
adapt to new or changing
policies and spending priorities of governments and government agencies; and |
|
● |
access additional capital
when required and on reasonable terms. |
If
the Company fails to address these and other challenges, risks and uncertainties successfully, its business, results of operations
and financial condition would be materially harmed.
The
Company operates in a competitive market.
The
Company faces competition and new competitors will continue to emerge throughout the world. Services offered by the Company’s
competitors may take a larger share of consumer spending than anticipated, which could cause revenue generated from the Company’s
products and services to fall below expectations. It is expected that competition in these markets will intensify.
If
competitors of the Company develop and market more successful products or services, offer competitive products or services at lower
price points, or if the Company does not produce consistently high-quality and well-received products and services, revenues, margins,
and profitability of the Company will decline.
The
Company’s ability to compete effectively will depend on, among other things, the Company’s pricing of services and equipment,
quality of customer service, development of new and enhanced products and services in response to customer demands and changing
technology, reach and quality of sales and distribution channels and capital resources. Competition could lead to a reduction in
the rate at which the Company adds new customers, a decrease in the size of the Company’s market share and a decline in its
customers. Examples include but are not limited to competition from other companies in the UAV industry.
In
addition, the Company could face increased competition should there be an award of additional licenses in jurisdictions in which
the Company operates in.
The
markets in which the Company competes are characterized by rapid technological change, which requires the Company to develop new
products and product enhancements and could render the Company’s existing products obsolete.
Continuing
technological changes in the market for the Company’s products could make its products less competitive or obsolete,
either generally or for particular applications. The Company’s future success will depend upon its ability to develop
and introduce a variety of new capabilities and enhancements to its existing product and service offerings, as well as introduce
a variety of new product offerings, to address the changing needs of the markets in which it offers products. Delays in introducing
new products and enhancements, the failure to choose correctly among technical alternatives or the failure to offer innovative
products or enhancements at competitive prices may cause existing and potential customers to purchase the Company’s competitors’
products.
Draganfly Inc. Management Discussion and Analysis For the three months ended March 31, 2024 |
If
the Company is unable to devote adequate resources to develop new products or cannot otherwise successfully develop new products
or enhancements that meet customer requirements on a timely basis, its products could lose market share, its revenue and profits
could decline, and the Company could experience operating losses.
Failure
to obtain necessary regulatory approvals from Transport Canada or other governmental agencies, or limitations put on the use of
small UAV in response to public privacy concerns, may prevent the Company from expanding sales of its small UAV to non-military
customers in Canada.
Transport
Canada is responsible for establishing, managing, and developing safety and security standards and regulations for civil aviation
in Canada, and includes unmanned civil aviation (drones). Civil operations include law enforcement, scientific research, or
use by private sector companies for commercial purposes. The Canadian Aviation Regulations (“CARs”) govern civil
aviation safety and security in Canada, and by extension govern operation of drones in Canada to an acceptable level of safety.
While
Transport Canada has been a leader in the development of regulations for the commercial use of remotely piloted aircraft systems
(“RPAS”) and continues to move forward rapidly with its regulatory development, it has acknowledged the challenge
of regulations keeping pace with the rapid development in technology and the growing demand for commercial RPAS use, particularly
in the beyond visual line-of-sight environment. In 2012, the Canadian Aviation Regulation Advisory Council UAS working group
released its Phase 2 report which outlined a proposed set of revision to the CARs to permit beyond visual line of sight operations.
This report was the basis for the recently released Notice of Proposed Amendment (“NPA”) by Transport Canada on lower
risk beyond visual line-of-sight.
Failure
to obtain necessary regulatory approvals from Transport Canada or other governmental agencies, including the granting of certain
Special Flight Operations Certificates (“SFOCs”), or limitations put on the use of RPAS in response to public
safety concerns, may prevent the Company from testing or operating its aircraft and/or expanding its sales which could have an adverse
impact on the Company’s business, prospects, results of operations and financial condition.
There
are risks associated with the regulatory regime and permitting requirements of the Company’s business.
A
significant portion of the Company’s business is based on the operation of RPAS. The operation of RPAS poses a risk or
hazard to airspace users as well as personnel on the ground. As the RPAS industry is rapidly developing, the regulatory
environment for RPAS is constantly evolving to keep pace. As such, whenever a policy change with respect to operating
regulations occurs, there is a risk that the Company could find itself to be in non-compliance with these new regulations.
While the Company endeavours to take all necessary action to reduce the risks associated with the operations of RPAS and
to remain well-informed and up-to-date on any addendums and changes to the applicable regulations, there is
no assurance that an incident involving an RPAS or the Company’s non-compliance would not create a significant current
or future liability for the company.
The
regulation of RPAS operations within the Canadian Domestic Airspace (“CDA”) is still evolving and is expected to
continue to change with the proliferation of RPAS, advancements in technology, and standardization within the industry. Changes
to the regulatory regime may be disruptive and result in the Company needing to adopt significant changes in its operations
and policies, which may be costly and time-consuming, and may materially adversely affect the Company’s ability to manufacture
and make delivery of its products and services in a timely fashion.
The
Company’s business and research and development activities are subject to oversight by Transport Canada, the federal
institution responsible for transportation policies and programs, including the rules in the CARs. Currently, Transport
Canada requires that any non-recreational operators of RPAS have a SFOC. The Company’s ability to develop, test,
demonstrate, and sell products and services depends on its ability to acquire and maintain a valid SFOC.
Draganfly Inc. Management Discussion and Analysis For the three months ended March 31, 2024 |
In
addition, there exists public concern regarding the privacy implications of Canadian commercial and law enforcement use
of small UAV. This concern has included calls to develop explicit written policies and procedures establishing UAV usage
limitations. There is no assurance that the response from regulatory agencies, customers and privacy advocates to these
concerns will not delay or restrict the adoption of small UAV by prospective non-military customers.
The
Company may be subject to the risks associated with future acquisitions.
As
part of the Company’s overall business strategy, the Company may pursue select strategic acquisitions that would provide additional
product or service offerings, additional industry expertise, and a stronger industry presence in both existing and new jurisdictions.
Any such future acquisitions, if completed, may expose the Company to additional potential risks, including risks associated with:
(a) the integration of new operations, services and personnel; (b) unforeseen or hidden liabilities; (c) the diversion of resources
from the Company’s existing business and technology; (d) potential inability to generate sufficient revenue to offset new
costs; (e) the expenses of acquisitions; or (f) the potential loss of or harm to relationships with both employees and existing
users resulting from its integration of new businesses. In addition, any proposed acquisitions may be subject to regulatory approval.
The
Company’s inability to retain management and key employees could impair the future success of the Company.
The
Company’s future success depends substantially on the continued services of its executive officers and its key development
personnel. If one or more of its executive officers or key development personnel were unable or unwilling to continue in their present
positions, the Company might not be able to replace them easily or at all. In addition, if any of its executive officers or key
employees joins a competitor or forms a competing company, the Company may lose experience, know-how, key professionals and
staff members as well as business partners. These executive officers and key employees could develop drone technologies that could
compete with and take customers and market share away from the Company.
The
Company faces uncertainty and adverse changes in the economy.
Adverse
changes in the economy could negatively impact the Company’s business. Future economic distress may result in a decrease
in demand for the Company’s products, which could have a material adverse impact on the Company’s operating results
and financial condition. Uncertainty and adverse changes in the economy could also increase costs associated with developing
and publishing products, increase the cost and decrease the availability of sources of financing, and increase the Company’s
exposure to material losses from bad debts, any of which could have a material adverse impact on the financial condition
and operating results of the Company.
The
Company is subject to certain market-based financial risks associated with its operations.
The
Company could be subject to interest rate risks, which is the risk that the value of a financial instrument might be adversely affected
by a change in the interest rates. In seeking to minimize the risks from interest rate fluctuations, the Company manages exposure
through its normal operating and financing activities, however market fluctuations could increase the costs at which the Company
can access capital and its ability to obtain financing and the Company’s cash balances carry a floating rate of interest.
In addition, the Company engages in transactions in currencies other than its functional currency. Depending on the timing of these
transactions and the applicable currency exchange rates, conversions to the Company’s functional currency may positively or
negatively impact the Company.
Draganfly Inc. Management Discussion and Analysis For the three months ended March 31, 2024 |
Negative
macroeconomic and geopolitical trends could affect demand for the Company’s products and its ability to access sources of
capital.
There
can be no assurance that the Company’s business and corresponding financial performance will not be adversely affected by
general negative economic or consumer trends or events, including pandemics, public health crises, weather catastrophes, acts of
terrorism, war, and political instability. In particular, global economic markets have seen extensive volatility over the past few
years owing to the outbreak of the COVID-19 pandemic, the war between Russia and Ukraine, and the war between Israel and Hamas,
the closing of certain financial institutions by regulators in March 2023, and political instability. These events have created,
and may continue to create, significant disruption of the global economy, supply chains and distribution channels, and financial
and labor markets. If such conditions continue, recur or worsen, this may have a material adverse effect on the Company’s
business, financial condition and results of operations as consumer demand and its ability to access capital on favorable terms,
or at all, could be negatively impacted as a result of such conditions and consequences. Furthermore, such economic conditions have
produced downward pressure on share prices and on the availability of credit for financial institutions and corporations while also
driving up interest rates, further complicating borrowing and lending activities. If current levels of market disruption and volatility
continue or increase, the Company might experience reductions in business activity, increases in funding costs, decreases in asset
values, additional write-downs and impairment charges and lower profitability.
The
Company may be subject to the risks associated with foreign operations in other countries.
The
Company’s primary revenues are expected to be achieved in Canada and the US. However, the Company may expand to markets outside
of North America and become subject to risks normally associated with conducting business in other countries. As a result of such
expansion, the Company may be subject to the legal, political, social and regulatory requirements and economic conditions of foreign
jurisdictions. The Company cannot predict government positions on such matters as foreign investment, intellectual property rights
or taxation. A change in government positions on these issues could adversely affect the Company’s business.
If
the Company expands its business to foreign markets, it will need to respond to rapid changes in market conditions, including differing
legal, regulatory, economic, social and political conditions in these countries. If the Company is not able to develop and implement
policies and strategies that are effective in each location in which it does business, then the Company’s business, prospects,
results of operations and financial condition could be materially and adversely affected.
There
are tax risks the Company may be subject to in carrying on business in Canada.
The
Company is a resident of Canada for purposes of the Income Tax Act (Canada) (the “Tax Act”). Since the
Company is operating in a new and developing industry there is a risk that foreign governments may look to increase
their tax revenues or levy additional taxes to level the playing field for perceived disadvantages to traditional brick
and mortar businesses. There is no guarantee that governments will not impose such additional adverse taxes in the future.
If
critical components or raw materials used to manufacture the Company’s products become scarce or unavailable, then the Company
may incur delays in manufacturing and delivery of its products, which could damage its business.
The
Company obtains hardware components, various subsystems and systems from a limited group of suppliers. The Company does not
have long-term agreements with any of these suppliers that obligate it to continue to sell components, subsystems, systems
or products to the Company. The Company’s reliance on these suppliers involves significant risks and uncertainties, including
whether its suppliers will provide an adequate supply of required components, subsystems, or systems of sufficient quality,
will increase prices for the components, subsystems or systems and will perform their obligations on a timely basis.
Draganfly Inc. Management Discussion and Analysis For the three months ended March 31, 2024 |
The
global supply chain has experienced significant disruptions recently, caused by the COVID-19 pandemic and by geopolitical conflict,
including the wars in Ukraine and Gaza, and the possibility of widening conflict in the Middle East. These disruptions have impacted
a variety of products and goods and have had various downstream effects, making it more difficult to reliably and timely
source and supply goods and has also resulted in shortages of labor and equipment. The macroeconomic impacts of the COVID-19
pandemic and global conflicts, including the disruption of global shipping lanes in the Middle East, have contributed to inflationary
pressure, rising interest rates, and increased market volatility, adding additional pricing uncertainty. These conditions,
if not mitigated or remedied in a timely manner, could delay or preclude delivery of raw materials needed to manufacture the
Company’s products or delivery of its products to customers, particularly in international markets. If the Company
is unable to obtain components from third-party suppliers in the quantities and of the quality that it requires, on a
timely basis and at acceptable prices, then it may not be able to deliver its products on a timely or cost-effective basis
to its customers, or at all, which could cause customers to terminate their contracts with the Company, increase the Company’s
costs and seriously harm its business, results of operations and financial condition. Moreover, if any of the Company’s
suppliers become financially unstable, then it may have to find new suppliers. It may take several months to locate alternative
suppliers, if required, or to redesign the Company’s products to accommodate components from different suppliers.
The Company may experience significant delays in manufacturing and shipping its products to customers and incur additional
development, manufacturing and other costs to establish alternative sources of supply if the Company loses any of these
sources or is required to redesign its products. The Company cannot predict if it will be able to obtain replacement components
within the time frames that it requires at an affordable cost, if at all.
Natural
outdoor elements such as wind and precipitation may have a material adverse effect on the use and effectiveness of the Company’s
products.
The
Company’s business will involve the operation and flying of UAVs, a technology-based product used outside. As such, the
business is subject to various risks inherent in a technology-based businesses operated in outdoor conditions, including faulty
parts, breakdowns and crashes. Although the Company anticipates the use of its UAVs in good climactic conditions and that adequate
flying conditions will be monitored by trained personnel, there can be no assurance that unpredictable natural outdoor
elements, which could be exacerbated due to risks associated with climate change, will not have a material adverse effect on the use
and effectiveness of its products.
The
Company’s products may be subject to recall or return.
Manufacturers
and distributors of products are sometimes subject to the recall or return of their products for a variety of reasons,
including product defects, safety concerns, packaging issues and inadequate or inaccurate labeling disclosure. If any
of the Company’s equipment were to be recalled due to an alleged product defect, safety concern or for any other
reason, the Company could be required to incur unexpected expenses of the recall and any legal proceedings that might
arise in connection with the recall. The Company may lose a significant amount of sales and may not be able to replace
those sales at an acceptable margin or at all. In addition, a product recall may require significant management time and
attention. Additionally, product recalls may lead to increased scrutiny of the Company’s operations by Transport
Canada or other regulatory agencies, requiring further management time and attention and potential legal fees, costs and
other expenses.
If
the Company releases defective products or services, its operating results could suffer.
Products
and services designed and released by the Company involve extremely complex software programs and are difficult to develop
and distribute. While the Company has quality controls in place to detect and prevent defects in its products and services
before they are released, these quality controls are subject to human error, overriding, and reasonable resource constraints.
Therefore, these quality controls and preventative measures may not be effective in detecting and preventing defects in
the Company’s products and services before they have been released into the marketplace. In such an event,
the Company could be required, or decide voluntarily, to suspend the availability of the product or services, which could significantly
harm its business and operating results.
Draganfly Inc. Management Discussion and Analysis For the three months ended March 31, 2024 |
The
Company’s products and services are complex and could have unknown defects or errors, which may give rise to legal claims
against the Company, diminish its brand or divert its resources from other purposes.
The
Company’s UAVs rely on complex avionics, sensors, user-friendly interfaces and tightly integrated, electromechanical
designs to accomplish their missions. Despite testing, the Company’s products have contained defects and errors and may
in the future contain defects, errors or performance problems when first introduced, when new versions or enhancements are
released, or even after these products have been used by the Company’s customers for a period of time. These problems
could result in expensive and time-consuming design modifications or warranty charges, delays in the introduction of new
products or enhancements, significant increases in the Company’s service and maintenance costs, exposure to liability
for damages, damaged customer relationships and harm to the Company’s reputation, any of which could materially harm
the Company’s results of operations and ability to achieve market acceptance. In addition, increased development and
warranty costs could be substantial and could significantly reduce the Company’s operating margins.
The
existence of any defects, errors, or failures in the Company’s products or the misuse of the Company’s products
could also lead to product returns, recalls, or liability claims or lawsuits against it. A defect, error or failure in one of the
Company’s UAV could result in injury, death or property damage and significantly damage the Company’s reputation
and support for its UAV in general. The Company anticipates this risk will grow as its UAV begins to be used in Canadian domestic
airspace and urban areas. The Company’s UAV test systems also have the potential to cause injury, death or property damage
in the event that they are misused, malfunction or fail to operate properly due to unknown defects or errors. Although
the Company maintains insurance policies, it cannot provide any assurance that this insurance will be adequate to protect
the Company from all material judgments and expenses related to potential future claims or that these levels of insurance will
be available in the future at economical prices or at all. A successful product liability claim could result in substantial
cost to us. Even if the Company is fully insured as it relates to a particular claim, the claim could nevertheless diminish
the Company’s brand and divert management’s attention and resources, which could have a negative impact on the
Company’s business, financial condition and results of operations.
The
Company could be prohibited from shipping its products to certain countries if it is unable to obtain Canadian government authorization
regarding the export of its products, or if current or future export laws limit or otherwise restrict the Company’s business.
The
Company must comply with Canadian federal and provincial laws regulating the export of its products. In some cases, explicit
authorization from the Canadian government is needed to export its products. The export regulations and the governing policies
applicable to the Company’s business are subject to change. The Company cannot provide assurance that such export authorizations
will be available for its products in the future. Compliance with these laws has not significantly limited the Company’s
operations or sales in the recent past, but could significantly limit them in the future. Non-compliance with applicable export
regulations could potentially expose the Company to fines, penalties and sanctions. If the Company cannot obtain required government
approvals under applicable regulations, the Company may not be able to sell its products in certain international jurisdictions,
which could adversely affect the Company’s financial condition and results of operations.
Draganfly Inc. Management Discussion and Analysis For the three months ended March 31, 2024 |
Negative
consumer perception regarding the Company’s products could have a material adverse effect on the demand for the Company’s
products and the business, results of operations, financial condition and cash flows of the Company.
The
Company believes the UAV industry is highly dependent upon consumer perception regarding the safety, efficacy, and quality
of the UAV used. Consumer perception of these products can be significantly influenced by scientific research or findings,
regulatory investigations, litigation, media attention, and other publicity regarding the use of UAV. There can be no assurance
that future scientific research, findings, regulatory proceedings, litigation, media attention, or other research findings
or publicity will be favourable to the UAV market. Future research reports, findings, regulatory proceedings, litigation,
media attention or other publicity that are perceived as less favourable than, or that question, earlier research reports,
findings or publicity could have a material adverse effect on the demand for the Company’s products and the business,
results of operations, financial condition and cash flows of the Company. The dependence upon consumer perceptions means that
adverse scientific research reports, findings, regulatory proceedings, litigation, media attention or other publicity, whether
or not accurate or with merit, could have a material adverse effect on the Company, the demand for the Company’s products,
and the business, results of operations, financial condition and cash flows of the Company. Further, adverse publicity
reports or other media attention regarding the safety, the efficacy, and quality of UAV based surveys in general, or the Company’s
products specifically, could have a material adverse effect.
If
the Company fails to successfully promote its product brand, this could have a material adverse effect on the Company’s
business, prospects, financial condition and results of operations.
The
Company believes that brand recognition is an important factor to its success. If the Company fails to promote its brands
successfully, or if the expenses of doing so are disproportionate to any increased net sales it achieves, it would have
a material adverse effect on the Company’s business, prospects, financial condition and results of operations. This
will depend largely on the Company’s ability to maintain trust, be a technology leader, and continue to provide
high-quality and secure technologies, products and services. Any negative publicity about the Company or its industry,
the quality and reliability of the Company’s technologies, products and services, the Company’s risk management processes,
changes to the Company’s technologies, products and services, its ability to effectively manage and resolve customer
complaints, its privacy and security practices, litigation, regulatory activity, and the experience of sellers and buyers with the
Company’s products or services, could adversely affect the Company’s reputation and the confidence in and use of the
Company’s technologies, products and services. Harm to the Company’s brand can arise from many sources,
including; failure by the Company or its partners to satisfy expectations of service and quality; inadequate protection of
sensitive information; compliance failures and claims; litigation and other claims; employee misconduct; and misconduct
by the Company’s partners, service providers, or other counterparties. If the Company does not successfully maintain
a strong and trusted brand, its business could be materially and adversely affected.
The
Company may be subject to electronic communication security risks.
A
significant potential vulnerability of electronic communications is the security of transmission of confidential information
over public networks. Cyberattacks could result in unauthorized access to the Company’s computer systems or its third-party
IT service provider’s systems and, if successful, misappropriate personal or confidential information. Anyone who is
able to circumvent the Company’s security measures could misappropriate proprietary information or cause interruptions
in its operations. The Company may be required to expend capital and other resources to protect against such security breaches
or to alleviate problems caused by such breaches.
The
last few years have seen an increase in the volume and sophistication of targeted cyber-attacks. A failure of the Company’s
IT infrastructure could severely limit the Company’s ability to conduct ordinary operations or expose the Company
to liability. To date, the Company’s systems have functioned capably, and it has not experienced a material impact to
its operations as a result of an IT infrastructure issue. Data security breaches suffered by well-known companies and institutions
have attracted a substantial amount of media attention, prompting new foreign, federal, provincial and state laws and legislative
proposals addressing data privacy and security. As a result, the Company may become subject to more extensive requirements to protect
the customer information that it processes in connection with the purchase of its products, resulting in increased compliance costs.
Draganfly Inc. Management Discussion and Analysis For the three months ended March 31, 2024 |
While
the Company has taken measures to protect against cyberattacks, even the most well-protected IT networks, systems and facilities
remain potentially vulnerable because the techniques used in attempted security breaches are continually evolving and generally
are not recognized until launched against a target or, in some cases, are designed not to be detected and, in fact, may
not be detected. Any such compromise of the Company’s or its third party’s IT service providers’ data security
and access, public disclosure, or loss of personal or confidential business information, could result in legal claims and proceedings,
liability under laws to protect privacy of personal information, and regulatory penalties, and could disrupt the Company’s
operations, require significant management attention and resources to remedy any damages that result, and damage its reputation
and customers willingness to transact business with us, any of which could adversely affect our business.
The
Company’s business could be adversely affected if its consumer protection and data privacy practices are not perceived as
adequate or there are breaches of its security measures or unintended disclosures of its consumer data.
The
rate of privacy law-making is accelerating globally and interpretation and application of consumer protection and data privacy
laws in Canada, the United States, Europe and elsewhere are often uncertain, contradictory and in flux. As business practices
are being challenged by regulators, private litigants, and consumer protection agencies around the world, it is possible that
these laws may be interpreted and applied in a manner that is inconsistent with the Company’s data and/or consumer protection
practices. If so, this could result in increased litigation government or court-imposed fines, judgments or orders requiring
that the Company change its practices, which could have an adverse effect on its business and reputation. Complying with these
various laws could cause the Company to incur substantial costs or require it to change its business practices in a manner
adverse to its business.
The
Company relies on its business partners, and they may be given access to sensitive and proprietary information in order to provide
services and support to the Company’s teams.
The
Company relies on various business partners, including third-party service providers, vendors, licensing partners, development
partners, and licensees, among others, in some areas of the Company’s business. In some cases, these third parties are
given access to sensitive and proprietary information in order to provide services and support to the Company’s teams.
These third parties may misappropriate the Company’s information and engage in unauthorized use of it. The failure of
these third parties to provide adequate services and technologies, or the failure of the third parties to adequately maintain
or update their services and technologies, could result in a disruption to the Company’s business operations. Further,
disruptions in the financial markets and economic downturns may adversely affect the Company’s business partners and
they may not be able to continue honoring their obligations to the Company. Alternative arrangements and services may not be
available to the Company on commercially reasonable terms or the Company may experience business interruptions upon a transition
to an alternative partner or vendor. If the Company loses one or more significant business partners, the Company’s
business could be harmed.
Draganfly Inc. Management Discussion and Analysis For the three months ended March 31, 2024 |
If
the Company fails to protect, or incurs significant costs in defending, its intellectual property and other proprietary rights,
the Company’s business, financial condition, and results of operations could be materially harmed.
The
Company’s success depends, in large part, on its ability to protect its intellectual property and other proprietary rights.
The Company relies primarily on patents, trademarks, copyrights, trade secrets and unfair competition laws, as well as license
agreements and other contractual provisions, to protect the Company’s intellectual property and other proprietary rights.
However, a portion of the Company’s technology is not patented, and the Company may be unable or may not seek to obtain
patent protection for this technology. Moreover, existing Canadian legal standards relating to the validity, enforceability
and scope of protection of intellectual property rights offer only limited protection, may not provide the Company with any
competitive advantages, and may be challenged by third parties. The laws of countries other than Canada may be even less protective
of intellectual property rights. Accordingly, despite its efforts, the Company may be unable to prevent third parties from
infringing upon or misappropriating its intellectual property or otherwise gaining access to the Company’s technology.
Unauthorized third parties may try to copy or reverse engineer the Company’s products or portions of its products or
otherwise obtain and use the Company’s intellectual property. Moreover, many of the Company’s employees have access
to the Company’s trade secrets and other intellectual property. If one or more of these employees leave to work for one
of the Company’s competitors, then they may disseminate this proprietary information, which may as a result damage the
Company’s competitive position. If the Company fails to protect its intellectual property and other proprietary rights,
then the Company’s business, results of operations or financial condition could be materially harmed. From time
to time, the Company may have to initiate lawsuits to protect its intellectual property and other proprietary rights. Pursuing
these claims is time consuming and expensive and could adversely impact the Company’s results of operations.
In
addition, affirmatively defending the Company’s intellectual property rights and investigating whether the Company is
pursuing a product or service development that may violate the rights of others may entail significant expense. Any of the
Company’s intellectual property rights may be challenged by others or invalidated through administrative processes or
litigation. If the Company resorts to legal proceedings to enforce its intellectual property rights or to determine the validity
and scope of the intellectual property or other proprietary rights of others, then the proceedings could result in significant
expense to the Company and divert the attention and efforts of the Company’s management and technical employees, even
if the Company prevails.
Obtaining
and maintaining the Company’s patent protection depends on compliance with various procedural, document submission, fee payment,
and other requirements imposed by governmental patent agencies, and its patent protection could be reduced or eliminated for non-compliance
with these requirements.
The
Canadian Intellectual Property Office (“CIPO”), the United States Patent and Trademark Office (“USPTO”)
and various foreign national or international patent agencies require compliance with a number of procedural, documentary, fee payment,
and other similar provisions during the patent application process. Periodic maintenance fees on any issued patent are due to be
paid to the CIPO, the USPTO and various foreign national or international patent agencies in several stages over the lifetime of
the patent. While an inadvertent lapse can in many cases be cured by payment of a late fee or by other means in accordance with
the applicable rules, there are situations in which non-compliance can result in abandonment or lapse of the patent or patent
application, resulting in partial or complete loss of patent rights in the relevant jurisdiction. Non-compliance events that could
result in abandonment or lapse of patent rights include, but are not limited to, failure to timely file national and regional stage
patent applications based on the Company’s international patent application, failure to respond to official actions within
prescribed time limits, non-payment of fees, and failure to properly legalize and submit formal documents. If the Company fails
to maintain the patents and patent applications covering its product candidates, its competitors might be able to enter the market,
which would have a material adverse effect on the Company’s business.
While
a patent may be granted by a national patent office, there is no guarantee that the granted patent is valid. Options exist
to challenge the validity of a patent which, depending upon the jurisdiction, may include re-examination, opposition proceedings
before the patent office, and/or invalidation proceedings before the relevant court. Patent validity may also be the subject
of a counterclaim to an allegation of patent infringement.
Draganfly Inc. Management Discussion and Analysis For the three months ended March 31, 2024 |
Pending
patent applications may be challenged by third parties in protest or similar proceedings. Third parties can typically submit
prior art material to patentability for review by the patent examiner. Regarding Patent Cooperation Treaty applications, a
positive opinion regarding patentability issued by the International Searching Authority does not guarantee allowance of a
national application derived from the Patent Cooperation Treaty application. The coverage claimed in a patent application can
be significantly reduced before the patent is issued, and the patent’s scope can be modified after issuance. It is also
possible that the scope of claims granted may vary from jurisdiction to jurisdiction.
The
grant of a patent does not have any bearing on whether the invention described in the patent application would infringe the
rights of earlier filed patents. It is possible to both obtain patent protection for an invention and yet still infringe the
rights of an earlier granted patent.
The
Company may be sued by third parties for alleged infringement of their proprietary rights, which could be costly, time-consuming
and limit the Company’s ability to use certain technologies in the future.
The
Company may become subject to claims that its technologies infringe upon the intellectual property or other proprietary rights
of third parties. Any claims, with or without merit, could be time-consuming and expensive, and could divert the Company’s
management’s attention away from the execution of its business plan. Moreover, any settlement or adverse judgment resulting
from these claims could require the Company to pay substantial amounts or obtain a license to continue to use the disputed
technology, or otherwise restrict or prohibit the Company’s use of the technology. The Company cannot assure that it
would be able to obtain a license from the third party asserting the claim on commercially reasonable terms, if at all,
that the Company would be able to develop alternative technology on a timely basis, if at all, or that the Company would be
able to obtain a license to use a suitable alternative technology to permit the Company to continue offering, and the Company’s
customers to continue using, the Company’s affected product. An adverse determination also could prevent the Company
from offering its products to others. Infringement claims asserted against the Company may have a material adverse effect
on its business, results of operations or financial condition.
The
Company may not be able to protect its intellectual property rights throughout the world.
Filing,
prosecuting, and defending patents on all of the Company’s product candidates throughout the world would be prohibitively
expensive. Therefore, the Company has filed applications and/or obtained patents only in key markets including the United States
and Canada. Competitors may use the Company’s technologies in jurisdictions where it has not obtained patent protection to
develop their own products and their products may compete with products of the Company.
If
the Company is required to write down goodwill and other intangible assets, the Company’s financial condition and results
could be negatively affected.
Goodwill
impairment arises when there is deterioration in the capabilities of acquired assets to generate cash flows, and the fair value
of the goodwill dips below its book value. The Company is required to review its goodwill for impairment at least annually.
Events that may trigger goodwill impairment include deterioration in economic conditions, increased competition, loss of key
personnel, and regulatory action. Should any of these occur, an impairment of goodwill relating to the acquisition of Dronelogics
Systems Inc. could have a negative effect on the assets of the Company.
From
time to time, the Company may become involved in legal proceedings, which could adversely affect the Company.
The
Company may, from time to time in the future, become subject to legal proceedings, claims, litigation and government investigations
or inquiries, which could be expensive, lengthy, and disruptive to normal business operations. In addition, the outcome of
any legal proceedings, claims, litigation, investigations or inquiries may be difficult to predict and could have a material
adverse effect on the Company’s business, operating results, or financial condition.
Draganfly Inc. Management Discussion and Analysis For the three months ended March 31, 2024 |
The
Company’s directors and officers may have conflicts of interest in conducting their duties.
Because
directors and officers of the Company are or may become directors or officers of other reporting companies or have significant
shareholdings in other technology companies, the directors and officers of the Company may have conflicts of interest in conducting
their duties. The Company and its directors and officers will attempt to minimize such conflicts. In the event that such a
conflict of interest arises at a meeting of the directors of the Company, a director who has such a conflict will abstain from
voting for or against a particular matter in which the director has the conflict. In appropriate cases, the Company
will establish a special committee of independent directors to review a particular matter in which several directors, or officers,
may have a conflict. In determining whether or not the Company will participate in a particular program and the interest therein
to be acquired by it, the directors will primarily consider the potential benefits to the Company, the degree of risk to which
the Company may be exposed and its financial position at that time. Other than as indicated, the Company has no other procedures
or mechanisms to deal with conflicts of interest.
The
Company’s Articles provide that the Company must indemnify a director or former director against all judgments, penalties
or fines to which such person is or may be liable by reason of such person being or having been a director of the Company
and the executive officers and directors may also have rights to indemnification from the Company, including pursuant
to directors’ and officers’ liability insurance policies, that will survive termination of their agreements.
Changes
in accounting standards and subjective assumptions, estimates and judgments by management related to complex accounting
matters could significantly affect the Company’s reported financial results or financial condition.
Changes
in accounting standards and subjective assumptions, estimates and judgments by management related to complex accounting
matters could significantly affect the Company’s reported financial results or financial condition.
Generally
accepted accounting principles and related accounting pronouncements, implementation guidelines and interpretations with
regard to a wide range of matters that are relevant to the Company’s business, including but not limited to revenue
recognition, impairment of goodwill and intangible assets, inventory, income taxes and litigation, are highly complex
and involve many subjective assumptions, estimates and judgments. Changes in these rules or their interpretation or changes
in underlying assumptions, estimates or judgments could significantly change the Company’s reported financial performance
or financial condition in accordance with generally accepted accounting principles.
Risks
Related to Our Common Shares
The
market price of the Common Shares may be highly volatile.
The
market price of the Common Shares is highly volatile and has been subject to wide fluctuations in response to a number of factors
that are beyond the Company’s control, including but not limited to
|
● |
revenue or results of operations
in any quarter failing to meet the expectations, published or otherwise, of the investment community; |
|
● |
actual or anticipated changes
or fluctuations in its results of operations; |
|
● |
announcements by us or
the Company’s competitors of new products or new or terminated significant contracts, commercial relationships or capital
commitments; |
|
● |
rumors and market speculation
involving it or other companies in its industry; |
|
● |
changes in its executive
management team or the composition of the board of directors of the Company (the “Board”); |
|
● |
fluctuations in the share
prices of other companies in the technology and emerging growth sectors; |
|
● |
general market conditions
and macroeconomic trends driven by factors outside the Company’s control, such as pandemics, geopolitical conflicts, supply
chain disruptions, market volatility, inflation, rising interest rate, political instability, and labor challenges, among other factors; |
Draganfly Inc. Management Discussion and Analysis For the three months ended March 31, 2024 |
|
● |
actual or anticipated developments
in its business or its competitors’ businesses or the competitive landscape generally; |
|
● |
litigation involving us,
the Company’s industry or both, or investigations by regulators into its operations or those of competitors; |
|
● |
announced or completed
acquisitions of businesses or technologies by the Company or its competitors; |
|
● |
new laws or regulations
or new interpretations of existing laws or regulations applicable to its business; |
|
● |
shareholder activism and
related publicity; |
|
● |
foreign exchange rates;
and |
|
● |
other risk factors as set
out in this Annual Report and in the documents incorporated by reference into this Annual Report. |
If
the market price of the Company’s Common Shares drops significantly, shareholders could institute securities class action lawsuits
against it, regardless of the merits of such claims. Such a lawsuit could cause it to incur substantial costs and could divert the
time and attention of management and other resources from the Company’s business, which could harm its business, results of
operations and financial condition.
There
is no guarantee that an active trading market for the Company’s Common Shares will be maintained on the CSE and/or Nasdaq.
Investors may not be able to sell their Common Shares quickly or at the latest market price if the trading in our Common Shares
is not active.
The
Company’s Common Shares are currently listed on the Canadian Stock Exchange (“CSE”), the Nasdaq Stock Market,
LLC (“Nasdaq”), and the Frankfurt Stock Exchange, however, it shareholders may be unable to sell significant
quantities of Common Shares into the public trading markets without a significant reduction in the price of their Common Shares,
or at all and there can be no guarantee that an active trading market for the Common Shares may be maintained. There can be
no assurance that there will be sufficient liquidity of its Common Shares on the trading market, and that we will continue
to meet the listing requirements of the CSE, Nasdaq or any other public listing exchange.
Failure
to meet Nasdaq’s continued listing requirements could result in the delisting of the Company’s Common Shares, negatively
impact the price of the Company’s Common Shares and negatively impact its ability to raise additional capital.
If
the Company fails to satisfy the continued listing requirements of the Nasdaq, such as corporate governance requirements or the minimum
closing bid price requirement, the exchange may take steps to delist the Company’s Common Shares. Such a delisting would likely
have a negative effect on the price of the Company’s Common Shares and would impair shareholders’ ability to sell or purchase
its Common Shares when they wish to do so.
As
previously disclosed, on September 22, 2023, the Company received a letter from the Listing Qualifications Department of Nasdaq
notifying the Company of its noncompliance with Nasdaq Listing Rule 5550(a)(2) (the “Bid Price Rule”) by failing to
maintain a minimum bid price for the Company’s common shares of at least $1.00 per share for 30 consecutive business days.
The Company was allowed an initial 180-day grace period, or until March 20, 2024, (the “Bid Price Compliance Period”),
to regain compliance with the Bid Price Rule. To regain compliance with the Bid Price Rule the closing bid price of the Company’s
common shares needed to be at least $1.00 per share for a minimum of ten consecutive business days during the Bid Price Compliance
Period.
Draganfly Inc. Management Discussion and Analysis For the three months ended March 31, 2024 |
On
March 21, 2024, the Company received notification that it had failed to regain compliance with the Bid Price Rule and is not eligible
for a second 180 day compliance period because of its failure to comply with the $5 million minimum stockholders’ equity initial
listing requirement for the period ended September 30, 2023. Unless the Company timely requests a hearing before an independent
Nasdaq Hearings Panel (the “Nasdaq Panel”), the Company’s securities will be subject to delisting. Accordingly,
the Company will request a hearing before the Nasdaq Panel. The hearing request will automatically stay any suspension or delisting
action pending the hearing and the expiration of any additional extension period granted by the Nasdaq Panel following the hearing.
In that regard, pursuant to the Nasdaq Listing Bid Price Rules, the Nasdaq Panel has the discretion to grant an additional extension
period that can expire as late as September 17, 2024. At the hearing, the Company will be asked to provide a plan to regain compliance
to the Nasdaq Panel. The Company intends to present a plan to regain compliance with the Bid Price Rule and request the continued
listing of its common shares on Nasdaq pending such compliance. However, there can be no assurance that the Nasdaq Panel will grant
the Company’s request or that the Company will ultimately regain compliance with all applicable requirements for continued
listing on Nasdaq.
Future
issuances of equity securities by us or sales by the Company’s existing shareholders may cause the price of its Common Shares
to fall.
The
market price of the Company’s Common Shares could decline as a result of issuances of securities or sales by its existing
shareholders in the market, including by its directors, executive officers and significant shareholders, or the perception
that these sales could occur. Sales of the Company’s Common Shares by shareholders might also make it more difficult
for it to sell Common Shares at a time and price that it deems appropriate. The Company also expects to issue Common Shares
in the future. Future issuances of Common Shares, or the perception that such issuances are likely to occur, could affect the
prevailing trading prices of the Common Shares.
We
may never pay dividends over the foreseeable future.
Investors
should not rely on an investment in the Company’s Common Shares to provide dividend income. The Company does not anticipate
that it will pay any cash dividends to holders of its Common Shares in the foreseeable future. Instead, the Company plans to
retain any earnings to maintain and expand its operations. In addition, any future debt financing arrangement may contain terms
prohibiting or limiting the amount of dividends that may be declared or paid on its Common Shares. Accordingly, investors must
rely on sales of their Common Shares after price appreciation, which may never occur, as the only way to realize any return
on their investment. As a result, investors seeking cash dividends should not purchase the Company’s Common Shares.
United
States investors may not be able to obtain enforcement of civil liabilities against us.
The
Company is incorporated under the laws of British Columbia, Canada, and its principal executive offices are located in Canada. Most of
the Company’s directors and officers and most of the experts named in this Annual Report reside outside of the United States and
all or a substantial portion of the Company’s assets and the assets of these persons are located outside the United States. Consequently,
it may not be possible for an investor to effect service of process within the United States on the Company or those persons. Furthermore,
it may not be possible for an investor to enforce judgments obtained in United States courts based upon the civil liability provisions
of United States federal securities laws or other laws of the United States against those persons or the Company. There is doubt as to
the enforceability, in original actions in Canadian courts, of liabilities based upon United States federal securities laws and as to
the enforceability in Canadian courts of judgments of United States courts obtained in actions based upon the civil liability provisions
of the United States federal securities laws. Therefore, it may not be possible to enforce those actions against the Company, certain
of the Company’s directors and officers or the experts named in this Annual Report.
Draganfly Inc. Management Discussion and Analysis For the three months ended March 31, 2024 |
We
are an emerging growth company and intend to take advantage of reduced disclosure requirements applicable to emerging growth companies,
which could make the Company’s Common Shares less attractive to investors.
We
are an “emerging growth company” as defined in the JOBS Act. We will remain an emerging growth company until the earliest
to occur of (i) the last day of the fiscal year in which we have total annual gross revenue of $1.07 billion or more; (ii) December
31, 2026 (the last day of the fiscal year ending after the fifth anniversary of the date of the completion of the first sales of
its common equity pursuant to an effective registration statement under the Securities Act); (iii) the date on which we have
issued more than $1.0 billion in non-convertible debt securities during the prior three-year period; or (iv) the date we qualify
as a “large accelerated filer” under the rules of the SEC, which means the market value of the Company’s Common
Shares held by non-affiliates exceeds $700 million as of the last business day of its most recently completed second fiscal quarter
after we have been a reporting company in the United States for at least 12 months. For so long as we remain an emerging growth
company, we are permitted to and intend to rely upon exemptions from certain disclosure requirements that are applicable to other
public companies that are not emerging growth companies. These exemptions include not being required to comply with the auditor
attestation requirements of Section 404 (“Section 404”) of the Sarbanes-Oxley Act (2002), as amended (the “Sarbanes-Oxley
Act”).
We
may take advantage of some, but not all, of the available exemptions available to emerging growth companies. We cannot predict
whether investors will find the Company’s Common Shares less attractive if it relies on these exemptions. If some investors
find the Company’s Common Shares less attractive as a result, there may be a less active trading market for its Common
Shares and the price of its Common Shares may be more volatile.
We
will incur increased costs as a result of operating as a public company in the United States and the Company’s management
will be required to devote substantial time to new compliance initiatives.
As
a U.S. public company, particularly if or when we are no longer an “emerging growth company” as defined under
the JOBS Act, we incur significant legal, accounting and other expenses, in addition to those we incur as a Canadian public
company, that we did not incur prior to being listed on Nasdaq. In addition, the Sarbanes-Oxley Act, and rules implemented
by the SEC and Nasdaq impose various other requirements on public companies, and the Company spends time and resources
to ensure compliance with its reporting obligations in both Canada and the United States.
For
example, pursuant to Section 404, we are required to furnish a report by our management on our internal control over financial
reporting (“ICFR”), which, if or when we are no longer an emerging growth company, must be accompanied by an attestation
report on ICFR issued by our independent registered public accounting firm. To achieve compliance with Section 404, we must
document and evaluate our ICFR, which is both costly and challenging. In this regard, we must dedicate internal resources,
potentially engage outside consultants and adopt a detailed work plan to assess and document the adequacy of our ICFR,
continue steps to improve control processes as appropriate, validate through testing that controls are functioning as documented
and implement a continuous reporting and improvement process for ICFR. Despite our efforts, there is a risk that neither we
nor our independent registered public accounting firm will be able to conclude that our ICFR is effective as required by Section
404. This could result in a determination that there are one or more material weaknesses in our ICFR, which could cause an
adverse reaction in the financial markets due to a loss of confidence in the reliability of our consolidated financial
statements.
In
addition, becoming a public company in the United States has increased legal and financial compliance as well as regulatory
costs, such as additional Nasdaq fees, and has made some of our public company obligations more time consuming. We invest resources
to comply with evolving laws, regulations and standards in both Canada and the United States, and this investment results in
increased general and administrative expenses and increased diversion of management’s time and attention from revenue-generating
activities to compliance activities. If our efforts to comply with public company laws, regulations and standards in the United
States are insufficient, regulatory authorities may initiate legal proceedings against us and our business may be harmed.
Draganfly Inc. Management Discussion and Analysis For the three months ended March 31, 2024 |
Being
a public company in the United States and complying with applicable rules and regulations also makes it more expensive for
us to obtain sufficient levels of director and officer liability insurance coverage. This factor may also make it more difficult
for us to attract and retain qualified executive officers and members of our Board of Directors.
As
a foreign private issuer, we are subject to different U.S. securities laws and rules than a domestic U.S. issuer, which may limit
the information publicly available to the Company’s U.S. shareholders.
We
currently qualify as a “foreign private issuer” under applicable U.S. federal securities laws and, therefore, are not
required to comply with all of the periodic disclosure and current reporting requirements of the Exchange Act and related rules and regulations.
As a result, we do not file the same reports that a U.S. domestic issuer would file with the SEC, although we are required
to file with or furnish to the SEC the continuous disclosure documents that we are required to file in Canada under Canadian
securities laws. In addition, the Company’s officers, directors and principal shareholders are exempt from the reporting
and “short swing” profit recovery provisions of Section 16 of the Exchange Act. Therefore, the Company’s shareholders
may not know on as timely a basis when its officers, directors and principal shareholders purchase or sell our securities as
the reporting periods under the corresponding Canadian insider reporting requirements are longer. In addition, as a foreign
private issuer, the Company is exempt from the proxy rules under the Exchange Act. The Company is also exempt from Regulation FD,
which prohibits issuers from making selective disclosures of material non-public information. While the Company expects to
comply with the corresponding requirements relating to proxy statements and disclosure of material non-public information under
Canadian securities laws, these requirements differ from those under the Exchange Act and Regulation FD and shareholders should
not expect to receive in every case the same information at the same time as such information is provided by U.S. domestic
issuers.
In
addition, as a foreign private issuer, we have the option to follow certain Canadian corporate governance practices, except
to the extent that such laws would be contrary to U.S. federal securities laws and Nasdaq listing rules and provided that we
disclose the requirements we are not following and describe the Canadian practices we follow instead. We rely on this exemption
in part. As a result, the Company’s shareholders may not have the same protections afforded to shareholders of U.S. domestic
issuers that are subject to all U.S. corporate governance requirements.
At
some point in the future, we may cease to be a foreign private issuer. If we cease to qualify, we will be subject to the same
reporting requirements and corporate governance requirements as a U.S. domestic issuer, which may increase the Company’s
costs of being a public company in the United States.
Draganfly Inc. Management Discussion and Analysis For the three months ended March 31, 2024 |
REGULATORY
POLICIES
Disclosure
Controls and Procedures
Disclosure
Controls and Procedures (“DC&P”) are designed to provide reasonable assurance that all material information is gathered
and reported on a timely basis to senior management so that appropriate decisions can be made regarding public disclosure and that information
required to be disclosed by the issuer under securities legislation is recorded, processed, summarized and reported within the time periods
specified in securities legislation. The Chief Executive Officer (“CEO”) and Chief Financial Officer (“CFO”),
along with other members of management, have designed, or caused to be designed under the CEO and CFO’s supervision, DC&P and
established processes to ensure that they are provided with sufficient knowledge to support the representations made in the interim certificates
required to be filed under National Instrument 52-109.
Internal
Controls over Financial Reporting
The
CEO and CFO, along with participation from other members of management, are responsible for establishing and maintaining adequate ICFR
to provide reasonable assurance regarding the reliability of financial statements prepared in accordance with IFRS. During the three
months ended March 31, 2024, there has been no change in the Company’s ICFR that has materially affected, or is reasonably likely
to materially affect, the Company’s ICFR.
Limitations
of Controls and Procedures
The
Company’s management, including its CEO and CFO, believe that any DC&P or ICFR, no matter how well conceived and operated,
can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Further, the design of a control
system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs.
Because of the inherent limitations in all control systems, they cannot provide absolute assurance that all control issues and instances
of fraud, if any, within the Company have been prevented or detected. These inherent limitations include the realities that judgements
in decision-making can be faulty, and that breakdowns can occur because of simple error or mistake. The design of any system of controls
also is based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will
succeed in achieving its stated goals under all potential future conditions. Accordingly, because of the inherent limitations in a cost
effective control system, misstatements due to error or fraud may occur and not be detected. Also, projections of any evaluation of effectiveness
to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of
compliance with the policies or procedures may deteriorate.
Other
Information
Additional
information about the Company is available at www.draganfly.com
Approval
This
MD&A is authorized for issue by the Board on May 14, 2024
Exhibit
99.3
Form
52-109F2
Certification
of Interim Filings
Full
Certificate
I,
Cameron Chell, the Chief Executive Officer of Draganfly Inc., certify the following:
1. |
Review:
I have reviewed the interim financial report and interim MD&A (together, the “interim filings”) of Draganfly
Inc. (the “issuer”) for the interim period ended March 31, 2024. |
|
|
2. |
No
misrepresentations: Based on my knowledge, having exercised reasonable diligence, the interim filings do not contain any
untrue statement of a material fact or omit to state a material fact required to be stated or that is necessary to make a statement
not misleading in light of the circumstances under which it was made, with respect to the period covered by the interim filings. |
|
|
3. |
Fair
presentation: Based on my knowledge, having exercised reasonable diligence, the interim financial report together with the
other financial information included in the interim filings fairly present in all material respects the financial condition, financial
performance and cash flows of the issuer, as of the date of and for the periods presented in the interim filings. |
|
|
4. |
Responsibility:
The issuer’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls
and procedures (DC&P) and internal control over financial reporting (ICFR), as those terms are defined in National Instrument
52-109 Certification of Disclosure in Issuers’ Annual and Interim Filings, for the issuer. |
|
|
5. |
Design:
Subject to the limitations, if any, described in paragraphs 5.2 and 5.3, the issuer’s other certifying officer(s) and
I have, as at the end of the period covered by the interim filings |
|
(a) |
designed
DC&P, or caused it to be designed under our supervision, to provide reasonable assurance that |
|
(i) |
material
information relating to the issuer is made known to us by others, particularly during the period in which the interim filings are
being prepared; and |
|
|
|
|
(ii) |
information
required to be disclosed by the issuer in its annual filings, interim filings or other reports filed or submitted by it under securities
legislation is recorded, processed, summarized and reported within the time periods specified in securities legislation; and |
|
(b) |
designed
ICFR, or caused it to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting
and the preparation of financial statements for external purposes in accordance with the issuer’s GAAP. |
5.1 |
Control
framework: The control framework the issuer’s other certifying officer(s) and I used to design the issuer’s ICFR
is Internal Control – Integrated Framework (2013 COSO Framework) published by The Committee of Sponsoring Organizations of
the Treadway Commission (COSO). |
|
|
5.2 |
N/A. |
|
|
5.3 |
N/A. |
|
|
6. |
Reporting
changes in ICFR: The issuer has disclosed in its interim MD&A any change in the issuer’s ICFR that occurred during
the period beginning on January 1, 2024 and ended on March 31, 2024 that has materially affected, or is reasonably likely to materially
affect, the issuer’s ICFR. |
Date:
May 14, 2024 |
|
|
|
/s/
Cameron Chell |
|
Cameron
Chell |
|
Chief
Executive Officer |
|
Exhibit
99.4
Form
52-109F2
Certification
of Interim Filings
Full
Certificate
I,
Paul Sun, the Chief Financial Officer of Draganfly Inc., certify the following:
1. |
Review:
I have reviewed the interim financial report and interim MD&A (together, the “interim filings”) of Draganfly
Inc. (the “issuer”) for the interim period ended March 31, 2024. |
|
|
2. |
No
misrepresentations: Based on my knowledge, having exercised reasonable diligence, the interim filings do not contain any
untrue statement of a material fact or omit to state a material fact required to be stated or that is necessary to make a statement
not misleading in light of the circumstances under which it was made, with respect to the period covered by the interim filings. |
|
|
3. |
Fair
presentation: Based on my knowledge, having exercised reasonable diligence, the interim financial report together with the
other financial information included in the interim filings fairly present in all material respects the financial condition, financial
performance and cash flows of the issuer, as of the date of and for the periods presented in the interim filings. |
|
|
4. |
Responsibility:
The issuer’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls
and procedures (DC&P) and internal control over financial reporting (ICFR), as those terms are defined in National Instrument
52-109 Certification of Disclosure in Issuers’ Annual and Interim Filings, for the issuer. |
|
|
5. |
Design:
Subject to the limitations, if any, described in paragraphs 5.2 and 5.3, the issuer’s other certifying officer(s) and
I have, as at the end of the period covered by the interim filings |
|
(a) |
designed
DC&P, or caused it to be designed under our supervision, to provide reasonable assurance that |
|
(i) |
material
information relating to the issuer is made known to us by others, particularly during the period in which the interim filings are
being prepared; and |
|
|
|
|
(ii) |
information
required to be disclosed by the issuer in its annual filings, interim filings or other reports filed or submitted by it under securities
legislation is recorded, processed, summarized and reported within the time periods specified in securities legislation; and |
|
(b) |
designed
ICFR, or caused it to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting
and the preparation of financial statements for external purposes in accordance with the issuer’s GAAP. |
5.1 |
Control
framework: The control framework the issuer’s other certifying officer(s) and I used to design the issuer’s ICFR
is Internal Control – Integrated Framework (2013 COSO Framework) published by The Committee of Sponsoring Organizations of
the Treadway Commission (COSO). |
|
|
5.2 |
N/A. |
|
|
5.3 |
N/A. |
|
|
6. |
Reporting
changes in ICFR: The issuer has disclosed in its interim MD&A any change in the issuer’s ICFR that occurred during
the period beginning on January 1, 2024 and ended on March 31, 2024 that has materially affected, or is reasonably likely to materially
affect, the issuer’s ICFR. |
Date:
May 14, 2024 |
|
|
|
/s/
Paul Sun |
|
Paul Sun |
|
Chief
Financial Officer |
|
v3.24.1.1.u2
X |
- DefinitionBoolean flag that is true when the XBRL content amends previously-filed or accepted submission.
+ References
+ Details
Name: |
dei_AmendmentFlag |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionEnd date of current fiscal year in the format --MM-DD.
+ References
+ Details
Name: |
dei_CurrentFiscalYearEndDate |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:gMonthDayItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionFiscal period values are FY, Q1, Q2, and Q3. 1st, 2nd and 3rd quarter 10-Q or 10-QT statements have value Q1, Q2, and Q3 respectively, with 10-K, 10-KT or other fiscal year statements having FY.
+ References
+ Details
Name: |
dei_DocumentFiscalPeriodFocus |
Namespace Prefix: |
dei_ |
Data Type: |
dei:fiscalPeriodItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThis is focus fiscal year of the document report in YYYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.
+ References
+ Details
Name: |
dei_DocumentFiscalYearFocus |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:gYearItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionFor the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.
+ References
+ Details
Name: |
dei_DocumentPeriodEndDate |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:dateItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.
+ References
+ Details
Name: |
dei_DocumentType |
Namespace Prefix: |
dei_ |
Data Type: |
dei:submissionTypeItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAddress Line 1 such as Attn, Building Name, Street Name
+ References
+ Details
Name: |
dei_EntityAddressAddressLine1 |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- Definition
+ References
+ Details
Name: |
dei_EntityAddressCityOrTown |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionISO 3166-1 alpha-2 country code.
+ References
+ Details
Name: |
dei_EntityAddressCountry |
Namespace Prefix: |
dei_ |
Data Type: |
dei:countryCodeItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionCode for the postal or zip code
+ References
+ Details
Name: |
dei_EntityAddressPostalZipCode |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionName of the state or province.
+ References
+ Details
Name: |
dei_EntityAddressStateOrProvince |
Namespace Prefix: |
dei_ |
Data Type: |
dei:stateOrProvinceItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionA unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityCentralIndexKey |
Namespace Prefix: |
dei_ |
Data Type: |
dei:centralIndexKeyItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionCommission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.
+ References
+ Details
Name: |
dei_EntityFileNumber |
Namespace Prefix: |
dei_ |
Data Type: |
dei:fileNumberItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityRegistrantName |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.1.u2
Condensed Consolidated Interim Statement of Financial Position (Unaudited) - CAD ($)
|
Mar. 31, 2024 |
Dec. 31, 2023 |
Current Assets |
|
|
Cash and cash equivalents |
$ 4,339,736
|
$ 3,093,612
|
Receivables |
490,580
|
649,612
|
Inventory |
1,459,621
|
1,596,536
|
Prepaids and Deposits |
1,073,936
|
1,342,215
|
Total current assets |
7,363,873
|
6,681,975
|
Equipment |
600,365
|
680,801
|
Intangible assets |
53,605
|
56,426
|
Investments |
178,357
|
189,403
|
Receivable |
156,200
|
|
Right of use assets |
638,148
|
721,687
|
TOTAL ASSETS |
8,990,548
|
8,330,292
|
Current Liabilities |
|
|
Trade payables and accrued liabilities |
2,396,936
|
2,638,981
|
Customer deposits |
62,394
|
104,715
|
Deferred income |
16,439
|
12,112
|
Loans payable |
3,373
|
85,058
|
Derivative liability |
4,033,574
|
4,196,125
|
Lease liabilities |
316,931
|
362,001
|
Total current liabilities |
6,829,647
|
7,398,992
|
Non-current Liabilities |
|
|
Deferred Income |
91,463
|
95,562
|
Lease liabilities |
390,911
|
428,022
|
TOTAL LIABILITIES |
7,312,021
|
7,922,576
|
SHAREHOLDERS’ EQUITY |
|
|
Share capital |
100,023,862
|
97,070,976
|
Reserve – share-based payments |
7,072,480
|
6,870,139
|
Accumulated deficit |
(105,452,164)
|
(103,588,356)
|
Accumulated other comprehensive income |
34,349
|
54,957
|
TOTAL SHAREHOLDERS’ EQUITY |
1,678,527
|
407,716
|
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY |
$ 8,990,548
|
$ 8,330,292
|
X |
- DefinitionThe amount of accumulated items of income and expense (including reclassification adjustments) that are not recognised in profit or loss as required or permitted by other IFRSs. [Refer: IFRSs [member]; Other comprehensive income]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 55 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_55&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_AccumulatedOtherComprehensiveIncome |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionThe amount of a present economic resource controlled by the entity as a result of past events. Economic resource is a right that has the potential to produce economic benefits.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 13 -IssueDate 2023-01-01 -Paragraph 93 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=13&code=ifrs-tx-2023-en-r&anchor=para_93_a&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 8 -IssueDate 2023-01-01 -Paragraph 28 -Subparagraph c -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_28_c&doctype=Standard -URIDate 2023-03-23
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 13 -IssueDate 2023-01-01 -Paragraph 93 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=13&code=ifrs-tx-2023-en-r&anchor=para_93_b&doctype=Standard -URIDate 2023-03-23
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 13 -IssueDate 2023-01-01 -Paragraph 93 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=13&code=ifrs-tx-2023-en-r&anchor=para_93_e&doctype=Standard -URIDate 2023-03-23
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 8 -IssueDate 2023-01-01 -Paragraph 23 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_23&doctype=Standard -URIDate 2023-03-23
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 55 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_55&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_Assets |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionThe amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. [Refer: Cash; Cash equivalents]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 7 -IssueDate 2023-01-01 -Paragraph 45 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2023-en-r&anchor=para_45&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 12 -IssueDate 2023-01-01 -Paragraph B13 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2023-en-r&anchor=para_B13_a&doctype=Appendix&subtype=B -URIDate 2023-03-23
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 54 -Subparagraph i -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_54_i&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_CashAndCashEquivalents |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionThe amount of assets that the entity (a) expects to realise or intends to sell or consume in its normal operating cycle; (b) holds primarily for the purpose of trading; (c) expects to realise within twelve months after the reporting period; or (d) classifies as cash or cash equivalents (as defined in IAS 7) unless the asset is restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period. [Refer: Assets]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Name IFRS -Number 12 -IssueDate 2023-01-01 -Paragraph B10 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2023-en-r&anchor=para_B10_b&doctype=Appendix&subtype=B -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 12 -IssueDate 2023-01-01 -Paragraph B12 -Subparagraph b -Clause i -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2023-en-r&anchor=para_B12_b_i&doctype=Appendix&subtype=B -URIDate 2023-03-23
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 66 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_66&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_CurrentAssets |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
ifrs-full_CurrentAssetsAbstract |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe amount of current deposits from customers. [Refer: Deposits from customers]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 55 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_55&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_CurrentDepositsFromCustomers |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionThe amount of current derivative financial liabilities. [Refer: Derivative financial liabilities]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 55 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_55&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_CurrentDerivativeFinancialLiabilities |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionThe amount of current lease liabilities. [Refer: Lease liabilities]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2023-01-01 -Paragraph 47 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2023-en-r&anchor=para_47_b&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_CurrentLeaseLiabilities |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionThe amount of liabilities that: (a) the entity expects to settle in its normal operating cycle; (b) the entity holds primarily for the purpose of trading; (c) are due to be settled within twelve months after the reporting period; or (d) the entity does not have the right at the end of the reporting period to defer settlement for at least twelve months after the reporting period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Name IFRS -Number 12 -IssueDate 2023-01-01 -Paragraph B10 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2023-en-r&anchor=para_B10_b&doctype=Appendix&subtype=B -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 12 -IssueDate 2023-01-01 -Paragraph B12 -Subparagraph b -Clause iii -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2023-en-r&anchor=para_B12_b_iii&doctype=Appendix&subtype=B -URIDate 2023-03-23
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 69 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_69&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_CurrentLiabilities |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
ifrs-full_CurrentLiabilitiesAbstract |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe amount recognised as a current asset for expenditures made prior to the period when the economic benefit will be realised.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 112 -Subparagraph c -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_112_c&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_CurrentPrepaidExpenses |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionThe amount of liabilities representing income that has been received (or the amount is due) but is not yet earned, including contract liabilities. [Refer: Contract liabilities]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 78 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_78&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 55 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_55&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_DeferredIncomeIncludingContractLiabilities |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
ifrs-full_EquityAbstract |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe amount of the entity's equity and liabilities. [Refer: Equity; Liabilities]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 55 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_55&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_EquityAndLiabilities |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionThe amount of equity attributable to the owners of the parent. This specifically excludes non-controlling interest.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 54 -Subparagraph r -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_54_r&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_EquityAttributableToOwnersOfParent |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionThe amount of identifiable non-monetary assets without physical substance. This amount does not include goodwill. [Refer: Goodwill]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 38 -IssueDate 2023-01-01 -Paragraph 118 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=38&code=ifrs-tx-2023-en-r&anchor=para_118_e&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 54 -Subparagraph c -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_54_c&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_IntangibleAssetsOtherThanGoodwill |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionThe amount of current inventories. [Refer: Inventories]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 2 -IssueDate 2023-01-01 -Paragraph 36 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=2&code=ifrs-tx-2023-en-r&anchor=para_36_b&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 54 -Subparagraph g -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_54_g&doctype=Standard -URIDate 2023-03-23
Reference 3: http://www.xbrl.org/2003/role/exampleRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 68 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_68&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_Inventories |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionThe amount of property (land or a building - or part of a building - or both) held (by the owner or by the lessee as a right-of-use asset) to earn rentals or for capital appreciation or both, rather than for: (a) use in the production or supply of goods or services or for administrative purposes; or (b) sale in the ordinary course of business.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 40 -IssueDate 2023-01-01 -Paragraph 76 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=40&code=ifrs-tx-2023-en-r&anchor=para_76&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 40 -IssueDate 2023-01-01 -Paragraph 79 -Subparagraph d -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=40&code=ifrs-tx-2023-en-r&anchor=para_79_d&doctype=Standard -URIDate 2023-03-23
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 54 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_54_b&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_InvestmentProperty |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionThe nominal value of capital issued.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 78 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_78_e&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_IssuedCapital |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionThe amount of a present obligation of the entity to transfer an economic resource as a result of past events. Economic resource is a right that has the potential to produce economic benefits.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 13 -IssueDate 2023-01-01 -Paragraph 93 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=13&code=ifrs-tx-2023-en-r&anchor=para_93_a&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 13 -IssueDate 2023-01-01 -Paragraph 93 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=13&code=ifrs-tx-2023-en-r&anchor=para_93_b&doctype=Standard -URIDate 2023-03-23
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 13 -IssueDate 2023-01-01 -Paragraph 93 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=13&code=ifrs-tx-2023-en-r&anchor=para_93_e&doctype=Standard -URIDate 2023-03-23
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 8 -IssueDate 2023-01-01 -Paragraph 28 -Subparagraph d -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_28_d&doctype=Standard -URIDate 2023-03-23
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 8 -IssueDate 2023-01-01 -Paragraph 23 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_23&doctype=Standard -URIDate 2023-03-23
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 55 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_55&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_Liabilities |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionThe amount of non-current deferred income including non-current contract liabilities. [Refer: Deferred income including contract liabilities]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 78 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_78&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 55 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_55&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_NoncurrentDeferredIncomeIncludingNoncurrentContractLiabilities |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionThe amount of non-current lease liabilities. [Refer: Lease liabilities]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2023-01-01 -Paragraph 47 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2023-en-r&anchor=para_47_b&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_NoncurrentLeaseLiabilities |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
ifrs-full_NoncurrentLiabilitiesAbstract |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe amount of non-current trade receivables and non-current other receivables. [Refer: Non-current trade receivables; Other non-current receivables]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 54 -Subparagraph h -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_54_h&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 78 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_78_b&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_NoncurrentReceivables |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionThe amount of tangible assets that: (a) are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and (b) are expected to be used during more than one period. Note that right-of-use assets are not included. [Contrast: Property, plant and equipment including right-of-use assets]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 16 -IssueDate 2023-01-01 -Paragraph 73 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=16&code=ifrs-tx-2023-en-r&anchor=para_73_e&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 54 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_54_a&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_PropertyPlantAndEquipment |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionA component of equity resulting from share-based payments.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 78 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_78_e&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_ReserveOfSharebasedPayments |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionA component of equity representing the entity's cumulative undistributed earnings or deficit.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph IG6 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_IG6&doctype=Implementation%20Guidance -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/exampleRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 78 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_78_e&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_RetainedEarnings |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionThe amount of assets that represent a lessee's right to use an underlying asset for the lease term that do not meet the definition of investment property. Underlying asset is an asset that is the subject of a lease, for which the right to use that asset has been provided by a lessor to a lessee.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2023-01-01 -Paragraph 53 -Subparagraph j -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2023-en-r&anchor=para_53_j&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2023-01-01 -Paragraph 47 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2023-en-r&anchor=para_47_a&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_RightofuseAssets |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionThe amount of current trade payables and current other payables. [Refer: Current trade payables; Other current payables]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 54 -Subparagraph k -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_54_k&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_TradeAndOtherCurrentPayables |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionThe amount of current trade receivables and current other receivables. [Refer: Current trade receivables; Other current receivables]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 54 -Subparagraph h -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_54_h&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 78 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_78_b&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_TradeAndOtherCurrentReceivables |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
v3.24.1.1.u2
Condensed Consolidated Interim Statements of Comprehensive Loss (Unaudited) - CAD ($)
|
3 Months Ended |
Mar. 31, 2024 |
Mar. 31, 2023 |
Profit or loss [abstract] |
|
|
Sales of goods |
$ 1,237,948
|
$ 1,380,816
|
Provision of services |
91,633
|
220,670
|
TOTAL REVENUE |
1,329,581
|
1,601,486
|
COST OF SALES |
(1,049,570)
|
(1,158,052)
|
GROSS PROFIT |
280,011
|
443,434
|
OPERATING EXPENSES |
|
|
Amortization |
2,821
|
8,989
|
Depreciation |
143,122
|
57,506
|
Director fees |
152,438
|
151,663
|
Insurance |
364,274
|
498,006
|
Office and miscellaneous |
346,270
|
2,800,652
|
Professional fees |
580,260
|
847,187
|
Research and development |
121,391
|
793,224
|
Share-based payments |
198,907
|
540,563
|
Travel |
40,019
|
89,262
|
Wages and salaries |
1,581,431
|
1,821,081
|
Total operating expenses |
(3,530,933)
|
(7,608,133)
|
OTHER INCOME |
|
|
Change in fair value of derivative liability |
1,817,569
|
57,314
|
Finance and other costs |
4,825
|
35,861
|
Foreign exchange gain (loss) |
66,736
|
(18,156)
|
Gain on disposal of assets |
43,528
|
21,203
|
Gain on recovery of notes receivable |
6,751
|
|
Government income |
|
1,275
|
Other expense |
(552,295)
|
(424)
|
Total Other income (expenses) |
1,387,114
|
97,073
|
NET LOSS |
(1,863,808)
|
(7,067,626)
|
Items that may be reclassified to profit or loss |
|
|
Foreign exchange translation |
(9,562)
|
(86,402)
|
Items that will not be reclassified to profit or loss |
|
|
Change in fair value of equity investments at FVOCI |
(11,046)
|
57,033
|
COMPREHENSIVE LOSS |
$ (1,884,416)
|
$ (7,096,995)
|
Net Income (Loss) per share - Basic |
$ (0.03)
|
$ (0.20)
|
Net Income (Loss) per share - Diluted |
$ (0.03)
|
$ (0.20)
|
Weighted average number of common shares outstanding - Diluted |
54,933,773
|
34,689,118
|
Weighted average number of common shares outstanding - Basic |
54,933,773
|
34,689,118
|
X |
- DefinitionComponents of other comprehensive income that may be reclassified to profit or loss net of tax abstract.
+ References
+ Details
Name: |
DPRO_ComponentsOfOtherComprehensiveIncomeThatMayBeReclassifiedToProfitOrLossNetOfTaxAbstract |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionOperating expense abstract.
+ References
+ Details
Name: |
DPRO_OperatingExpenseAbstract |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionOther income expense abstract.
+ References
+ Details
Name: |
DPRO_OtherIncomeExpenseAbstract |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionGain on recovery of notes receivable.
+ References
+ Details
Name: |
DPRO_OtherIncomeExpensesGainOnRecoveryOfNotesReceivable |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe weighted average number of ordinary shares outstanding plus the weighted average number of ordinary shares that would be issued on the conversion of all the dilutive potential ordinary shares into ordinary shares. [Refer: Ordinary shares [member]; Weighted average [member]]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 33 -IssueDate 2023-01-01 -Paragraph 70 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=33&code=ifrs-tx-2023-en-r&anchor=para_70_b&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_AdjustedWeightedAverageShares |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAdjustments for share-based payments to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss)]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 7 -IssueDate 2023-01-01 -Paragraph 20 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2023-en-r&anchor=para_20_b&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_AdjustmentsForSharebasedPayments |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of amortisation expense. Amortisation is the systematic allocation of depreciable amounts of intangible assets over their useful lives.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 112 -Subparagraph c -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_112_c&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_AmortisationExpense |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of profit (loss) attributable to ordinary equity holders of the parent entity (the numerator) divided by the weighted average number of ordinary shares outstanding during the period (the denominator).
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 33 -IssueDate 2023-01-01 -Paragraph 66 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=33&code=ifrs-tx-2023-en-r&anchor=para_66&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 33 -IssueDate 2023-01-01 -Paragraph 67 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=33&code=ifrs-tx-2023-en-r&anchor=para_67&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_BasicEarningsLossPerShare |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
dtr-types:perShareItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe amount of change in equity resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 1 -IssueDate 2023-01-01 -Paragraph 32 -Subparagraph a -Clause ii -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2023-en-r&anchor=para_32_a_ii&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 1 -IssueDate 2023-01-01 -Paragraph 24 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2023-en-r&anchor=para_24_b&doctype=Standard -URIDate 2023-03-23
Reference 3: http://www.xbrl.org/2003/role/exampleRef -Name IFRS -Number 12 -IssueDate 2023-01-01 -Paragraph B10 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2023-en-r&anchor=para_B10_b&doctype=Appendix&subtype=B -URIDate 2023-03-23
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 81A -Subparagraph c -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_81A_c&doctype=Standard -URIDate 2023-03-23
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 12 -IssueDate 2023-01-01 -Paragraph B12 -Subparagraph b -Clause ix -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2023-en-r&anchor=para_B12_b_ix&doctype=Appendix&subtype=B -URIDate 2023-03-23
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 106 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_106_a&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_ComprehensiveIncome |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of all expenses directly or indirectly attributed to the goods or services sold. Attributed expenses include, but are not limited to, costs previously included in the measurement of inventory that has now been sold, such as depreciation and maintenance of factory buildings and equipment used in the production process, unallocated production overheads, and abnormal amounts of production costs of inventories.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 99 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_99&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 103 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_103&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_CostOfSales |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of depreciation expense. Depreciation is the systematic allocation of depreciable amounts of tangible assets over their useful lives.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 112 -Subparagraph c -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_112_c&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_DepreciationExpense |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of profit (loss) attributable to ordinary equity holders of the parent entity (the numerator), divided by the weighted average number of ordinary shares outstanding during the period (the denominator), both adjusted for the effects of all dilutive potential ordinary shares. [Refer: Ordinary shares [member]; Weighted average [member]]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 33 -IssueDate 2023-01-01 -Paragraph 66 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=33&code=ifrs-tx-2023-en-r&anchor=para_66&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 33 -IssueDate 2023-01-01 -Paragraph 67 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=33&code=ifrs-tx-2023-en-r&anchor=para_67&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_DilutedEarningsLossPerShare |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
dtr-types:perShareItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe amount of remuneration paid or payable to the entity's directors.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 112 -Subparagraph c -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_112_c&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_DirectorsRemunerationExpense |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe fair value gains (losses) that would have been recognised in other comprehensive income if financial assets had not been reclassified out of the available-for-sale category. [Refer: Financial assets available-for-sale; Other comprehensive income]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Note Expired 2023-01-01 -Name IFRS -Number 7 -IssueDate 2023-01-01 -Paragraph 12A -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2017-en-b&anchor=para_12A_e&doctype=Standard&book=b -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_FairValueGainsLossesOnFinancialAssetsReclassifiedOutOfAvailableforsaleFinancialAssetsNotRecognisedInOtherComprehensiveIncome |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe gains (losses) resulting from change in the fair value of derivatives recognised in profit or loss. [Refer: Derivatives [member]]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 85 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_85&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe gains (losses) on disposals of non-current assets. [Refer: Non-current assets]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 112 -Subparagraph c -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_112_c&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_GainsLossesOnDisposalsOfNoncurrentAssets |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of exchange differences recognised in profit or loss that arise from foreign currency transactions, excluding those arising on financial instruments measured at fair value through profit or loss in accordance with IFRS 9. [Refer: At fair value [member]; Financial instruments, class [member]]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 21 -IssueDate 2023-01-01 -Paragraph 52 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=21&code=ifrs-tx-2023-en-r&anchor=para_52_a&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 35 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_35&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of revenue less cost of sales. [Refer: Cost of sales; Revenue]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 103 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_103&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_GrossProfit |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
ifrs-full_IncomeStatementAbstract |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe amount of expense arising from purchased insurance.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 112 -Subparagraph c -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_112_c&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_InsuranceExpense |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of miscellaneous other operating expenses. [Refer: Other operating income (expense)]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 112 -Subparagraph c -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_112_c&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_MiscellaneousOtherOperatingExpense |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of all operating expenses.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 85 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_85&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_OperatingExpense |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of other comprehensive income, net of tax, after reclassification adjustments, related to exchange differences when financial statements of foreign operations are translated. [Refer: Other comprehensive income]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 91 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_91_a&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 7 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_7&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of finance income or cost that the entity does not separately disclose in the same statement or note. [Refer: Finance income (cost)]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 85 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_85&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_OtherFinanceIncomeCost |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of operating income (expense) that the entity does not separately disclose in the same statement or note.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 85 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_85&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_OtherOperatingIncomeExpense |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of fees paid or payable for professional services.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 112 -Subparagraph c -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_112_c&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_ProfessionalFeesExpense |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 7 -IssueDate 2023-01-01 -Paragraph 18 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2023-en-r&anchor=para_18_b&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 1 -IssueDate 2023-01-01 -Paragraph 32 -Subparagraph a -Clause ii -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2023-en-r&anchor=para_32_a_ii&doctype=Standard -URIDate 2023-03-23
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 1 -IssueDate 2023-01-01 -Paragraph 24 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2023-en-r&anchor=para_24_b&doctype=Standard -URIDate 2023-03-23
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 8 -IssueDate 2023-01-01 -Paragraph 28 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_28_b&doctype=Standard -URIDate 2023-03-23
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 8 -IssueDate 2023-01-01 -Paragraph 23 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_23&doctype=Standard -URIDate 2023-03-23
Reference 6: http://www.xbrl.org/2003/role/exampleRef -Name IFRS -Number 12 -IssueDate 2023-01-01 -Paragraph B10 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2023-en-r&anchor=para_B10_b&doctype=Appendix&subtype=B -URIDate 2023-03-23
Reference 7: http://www.xbrl.org/2003/role/exampleRef -Name IFRS -Number 17 -IssueDate 2023-01-01 -Paragraph 113 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=17&code=ifrs-tx-2023-en-r&anchor=para_113_b&doctype=Standard -URIDate 2023-03-23
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 81A -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_81A_a&doctype=Standard -URIDate 2023-03-23
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 106 -Subparagraph d -Clause i -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_106_d_i&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_ProfitLoss |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of expenditure directly attributable to research or development activities, recognised in profit or loss.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 38 -IssueDate 2023-01-01 -Paragraph 126 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=38&code=ifrs-tx-2023-en-r&anchor=para_126&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_ResearchAndDevelopmentExpense |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 8 -IssueDate 2023-01-01 -Paragraph 28 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_28_a&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 8 -IssueDate 2023-01-01 -Paragraph 23 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_23_a&doctype=Standard -URIDate 2023-03-23
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 8 -IssueDate 2023-01-01 -Paragraph 32 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_32&doctype=Standard -URIDate 2023-03-23
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 5 -IssueDate 2023-01-01 -Paragraph 33 -Subparagraph b -Clause i -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=5&code=ifrs-tx-2023-en-r&anchor=para_33_b_i&doctype=Standard -URIDate 2023-03-23
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 8 -IssueDate 2023-01-01 -Paragraph 33 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_33_a&doctype=Standard -URIDate 2023-03-23
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 8 -IssueDate 2023-01-01 -Paragraph 34 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_34&doctype=Standard -URIDate 2023-03-23
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 12 -IssueDate 2023-01-01 -Paragraph B12 -Subparagraph b -Clause v -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2023-en-r&anchor=para_B12_b_v&doctype=Appendix&subtype=B -URIDate 2023-03-23
Reference 8: http://www.xbrl.org/2003/role/exampleRef -Name IFRS -Number 12 -IssueDate 2023-01-01 -Paragraph B10 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2023-en-r&anchor=para_B10_b&doctype=Appendix&subtype=B -URIDate 2023-03-23
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 82 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_82_a&doctype=Standard -URIDate 2023-03-23
Reference 10: http://www.xbrl.org/2003/role/exampleRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 103 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_103&doctype=Standard -URIDate 2023-03-23
Reference 11: http://www.xbrl.org/2003/role/exampleRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 102 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_102&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_Revenue |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of income recognised in relation to government grants. [Refer: Government grants]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 20 -IssueDate 2023-01-01 -Paragraph 39 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=20&code=ifrs-tx-2023-en-r&anchor=para_39_b&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_RevenueFromGovernmentGrants |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of revenue arising from the rendering of services. [Refer: Revenue]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 112 -Subparagraph c -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_112_c&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_RevenueFromRenderingOfServices |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of revenue arising from the sale of goods. [Refer: Revenue]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 112 -Subparagraph c -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_112_c&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_RevenueFromSaleOfGoods |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of expense arising from travel.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 112 -Subparagraph c -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_112_c&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_TravelExpense |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionA class of employee benefits expense that represents wages and salaries. [Refer: Employee benefits expense]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 19 -IssueDate 2023-01-01 -Paragraph 9 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=19&code=ifrs-tx-2023-en-r&anchor=para_9&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_WagesAndSalaries |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe number of ordinary shares outstanding at the beginning of the period, adjusted by the number of ordinary shares bought back or issued during the period multiplied by a time-weighting factor.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 33 -IssueDate 2023-01-01 -Paragraph 70 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=33&code=ifrs-tx-2023-en-r&anchor=para_70_b&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_WeightedAverageShares |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.1.u2
Condensed Consolidated Interim Statements of Changes in Shareholders' Equity (Unaudited) - CAD ($)
|
Issued capital [member] |
Reserve of share-based payments [member] |
Retained earnings [member] |
Reserve of gains and losses from investments in equity instruments [member] |
Reserve of exchange differences on translation [member] |
Total |
Balance at Dec. 31, 2022 |
$ 83,600,089
|
$ 7,264,340
|
$ (79,976,546)
|
$ (431,123)
|
$ 584,121
|
$ 11,040,881
|
Balance, shares at Dec. 31, 2022 |
34,270,579
|
|
|
|
|
|
Shares issued for financing – ATM (“At-the-Market”) |
$ 1,748,946
|
|
|
|
|
1,748,946
|
Shares issued for financing - ATM ("At-the-market"), shares |
650,729
|
|
|
|
|
|
Share issue costs |
$ (187,697)
|
|
|
|
|
(187,697)
|
Shares issued for financing |
$ 10,856,166
|
|
|
|
|
10,856,166
|
Shares issued for financing, shares |
8,000,000
|
|
|
|
|
|
Share issue costs |
$ (1,206,040)
|
|
|
|
|
(1,206,040)
|
Shares issued for the exercise of warrants |
$ 1,261,245
|
|
|
|
|
1,261,245
|
Shares issued for the exercise of warrants, shares |
3,800,000
|
|
|
|
|
|
Shares issued for the exercise of RSUs |
$ 68,750
|
(68,750)
|
|
|
|
|
Shares issued for the exercise of RSUs, shares |
63,657
|
|
|
|
|
|
Share-based payments |
|
540,563
|
|
|
|
540,563
|
Shares returned to treasury |
|
|
|
|
|
|
Shares returned to treasury, shares |
(900,000)
|
|
|
|
|
|
Net loss |
|
|
(7,067,626)
|
|
|
(7,067,626)
|
Change in fair value of equity investments at FVOCI |
|
|
|
57,033
|
|
57,033
|
Translation of foreign operations |
|
|
|
|
(86,402)
|
(86,402)
|
Balance at Mar. 31, 2023 |
$ 94,880,214
|
7,736,153
|
(87,044,172)
|
(374,090)
|
497,719
|
15,695,824
|
Balance, shares at Mar. 31, 2023 |
42,984,965
|
|
|
|
|
|
Balance at Dec. 31, 2022 |
$ 83,600,089
|
7,264,340
|
(79,976,546)
|
(431,123)
|
584,121
|
11,040,881
|
Balance, shares at Dec. 31, 2022 |
34,270,579
|
|
|
|
|
|
Shares issued for financing |
|
|
|
|
|
520,064
|
Balance at Dec. 31, 2023 |
$ 97,070,976
|
6,870,139
|
(103,588,356)
|
(434,303)
|
489,260
|
407,716
|
Balance, shares at Dec. 31, 2023 |
49,229,563
|
|
|
|
|
|
Balance at Mar. 31, 2023 |
$ 94,880,214
|
7,736,153
|
(87,044,172)
|
(374,090)
|
497,719
|
15,695,824
|
Balance, shares at Mar. 31, 2023 |
42,984,965
|
|
|
|
|
|
Shares issued for financing |
$ 520,064
|
|
|
|
|
520,064
|
Shares issued for financing, shares |
4,800,000
|
|
|
|
|
|
Share issue costs |
$ (901,285)
|
224,868
|
|
|
|
(676,417)
|
Shares issued for the exercise of warrants |
$ 1,261,245
|
|
|
|
|
1,261,245
|
Shares issued for the exercise of warrants, shares |
3,800,000
|
|
|
|
|
|
Shares issued for the exercise of RSUs |
$ 2,571,983
|
(2,571,983)
|
|
|
|
|
Shares issued for the exercise of RSUs, shares |
1,444,598
|
|
|
|
|
|
Share-based payments |
|
1,481,101
|
|
|
|
1,481,101
|
Shares returned to treasury |
|
|
|
|
|
|
Shares returned to treasury, shares |
(900,000)
|
|
|
|
|
|
Net loss |
|
|
(16,544,184)
|
|
|
(16,544,184)
|
Change in fair value of equity investments at FVOCI |
|
|
|
(60,213)
|
|
(60,213)
|
Translation of foreign operations |
|
|
|
|
(8,459)
|
(8,459)
|
Balance at Dec. 31, 2023 |
$ 97,070,976
|
6,870,139
|
(103,588,356)
|
(434,303)
|
489,260
|
407,716
|
Balance, shares at Dec. 31, 2023 |
49,229,563
|
|
|
|
|
|
Shares issued for financing |
$ 2,017,966
|
|
|
|
|
2,017,966
|
Shares issued for financing, shares |
11,200,000
|
|
|
|
|
|
Share issue costs |
$ (338,836)
|
72,185
|
|
|
|
(266,651)
|
Shares issued for the exercise of warrants |
$ 1,205,005
|
|
|
|
|
1,205,005
|
Shares issued for the exercise of warrants, shares |
3,800,000
|
|
|
|
|
|
Shares issued for the exercise of RSUs |
$ 68,751
|
(68,751)
|
|
|
|
|
Shares issued for the exercise of RSUs, shares |
63,658
|
|
|
|
|
|
Share-based payments |
|
198,907
|
|
|
|
198,907
|
Shares returned to treasury |
|
|
|
|
|
|
Shares returned to treasury, shares |
(900,000)
|
|
|
|
|
|
Net loss |
|
|
(1,863,808)
|
|
|
(1,863,808)
|
Change in fair value of equity investments at FVOCI |
|
|
|
(11,046)
|
|
(11,046)
|
Translation of foreign operations |
|
|
|
|
(9,562)
|
(9,562)
|
Balance at Mar. 31, 2024 |
$ 100,023,862
|
$ 7,072,480
|
$ (105,452,164)
|
$ (445,349)
|
$ 479,698
|
$ 1,678,527
|
Balance, shares at Mar. 31, 2024 |
63,393,221
|
|
|
|
|
|
X |
- DefinitionShares issued for exercise of restricted stock units.
+ References
+ Details
Name: |
DPRO_SharesIssuedForExerciseOfRestrictedStockUnits |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionShares issued for exercise of restricted stock units, shares.
+ References
+ Details
Name: |
DPRO_SharesIssuedForExerciseOfRestrictedStockUnitsShares |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionShares issued for financing.
+ References
+ Details
Name: |
DPRO_SharesIssuedForFinancing |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionShares issued for financing at the market shares.
+ References
+ Details
Name: |
DPRO_SharesIssuedForFinancingAtTheMarketShares |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionShares issued for financing at the market value.
+ References
+ Details
Name: |
DPRO_SharesIssuedForFinancingAtTheMarketValue |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionShares issued for financing shares.
+ References
+ Details
Name: |
DPRO_SharesIssuedForFinancingShares |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionShares returned to treasury shares.
+ References
+ Details
Name: |
DPRO_SharesReturnedToTreasuryShares |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionShares returned to treasury value.
+ References
+ Details
Name: |
DPRO_SharesReturnedToTreasuryValue |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionNumber of stock issued for exercise of warrants.
+ References
+ Details
Name: |
DPRO_StockIssuedDuringPeriodSharesExerciseOfWarrants |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionStock issued during period value exercise of warrants.
+ References
+ Details
Name: |
DPRO_StockIssuedDuringPeriodValueExerciseOfWarrants |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of residual interest in the assets of the entity after deducting all its liabilities.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 1 -IssueDate 2023-01-01 -Paragraph 24 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2023-en-r&anchor=para_24_a&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 1 -IssueDate 2023-01-01 -Paragraph 32 -Subparagraph a -Clause i -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2023-en-r&anchor=para_32_a_i&doctype=Standard -URIDate 2023-03-23
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 13 -IssueDate 2023-01-01 -Paragraph 93 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=13&code=ifrs-tx-2023-en-r&anchor=para_93_a&doctype=Standard -URIDate 2023-03-23
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 13 -IssueDate 2023-01-01 -Paragraph 93 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=13&code=ifrs-tx-2023-en-r&anchor=para_93_b&doctype=Standard -URIDate 2023-03-23
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 13 -IssueDate 2023-01-01 -Paragraph 93 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=13&code=ifrs-tx-2023-en-r&anchor=para_93_e&doctype=Standard -URIDate 2023-03-23
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 55 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_55&doctype=Standard -URIDate 2023-03-23
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 78 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_78_e&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_Equity |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionThe fair value gains (losses) recognised in other comprehensive income on financial assets reclassified out of the available-for-sale category. [Refer: Financial assets available-for-sale; Other comprehensive income]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Note Expired 2023-01-01 -Name IFRS -Number 7 -IssueDate 2023-01-01 -Paragraph 12A -Subparagraph d -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2017-en-b&anchor=para_12A_d&doctype=Standard&book=b -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_FairValueGainsLossesOnFinancialAssetsReclassifiedOutOfAvailableforsaleFinancialAssetsRecognisedInOtherComprehensiveIncome |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe increase (decrease) in equity resulting from share-based payment transactions. [Refer: Equity]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 106 -Subparagraph d -Clause iii -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_106_d_iii&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe number of shares that have been authorised and issued, reduced by treasury shares held. [Refer: Treasury shares]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 79 -Subparagraph a -Clause iv -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_79_a_iv&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_NumberOfSharesOutstanding |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionThe amount of other comprehensive income, net of tax, after reclassification adjustments, related to exchange differences when financial statements of foreign operations are translated. [Refer: Other comprehensive income]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 91 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_91_a&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 7 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_7&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 7 -IssueDate 2023-01-01 -Paragraph 18 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2023-en-r&anchor=para_18_b&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 1 -IssueDate 2023-01-01 -Paragraph 32 -Subparagraph a -Clause ii -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2023-en-r&anchor=para_32_a_ii&doctype=Standard -URIDate 2023-03-23
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 1 -IssueDate 2023-01-01 -Paragraph 24 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2023-en-r&anchor=para_24_b&doctype=Standard -URIDate 2023-03-23
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 8 -IssueDate 2023-01-01 -Paragraph 28 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_28_b&doctype=Standard -URIDate 2023-03-23
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 8 -IssueDate 2023-01-01 -Paragraph 23 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_23&doctype=Standard -URIDate 2023-03-23
Reference 6: http://www.xbrl.org/2003/role/exampleRef -Name IFRS -Number 12 -IssueDate 2023-01-01 -Paragraph B10 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2023-en-r&anchor=para_B10_b&doctype=Appendix&subtype=B -URIDate 2023-03-23
Reference 7: http://www.xbrl.org/2003/role/exampleRef -Name IFRS -Number 17 -IssueDate 2023-01-01 -Paragraph 113 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=17&code=ifrs-tx-2023-en-r&anchor=para_113_b&doctype=Standard -URIDate 2023-03-23
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 81A -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_81A_a&doctype=Standard -URIDate 2023-03-23
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 106 -Subparagraph d -Clause i -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_106_d_i&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_ProfitLoss |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
v3.24.1.1.u2
Condensed Consolidated Interim Statements of Cash Flows (Unaudited) - CAD ($)
|
3 Months Ended |
Mar. 31, 2024 |
Mar. 31, 2023 |
OPERATING ACTIVITIES |
|
|
Net loss |
$ (1,863,808)
|
$ (7,067,626)
|
Adjustments for: |
|
|
Amortization |
2,821
|
8,989
|
Depreciation |
143,122
|
57,506
|
Impairment of accounts receivable |
|
198,513
|
Change in fair value of derivative liability |
(1,817,569)
|
(57,314)
|
Impairment of inventory |
148,760
|
77,047
|
Impairment (Gain) on recovery of notes receivable |
(6,751)
|
|
Finance and other costs |
485,849
|
1,275
|
Gain on disposal of assets |
(43,528)
|
(21,203)
|
Income from government assistance |
|
|
Share-based payments |
198,907
|
540,563
|
Adjustments for profit loss |
(2,752,197)
|
(6,262,250)
|
Net changes in non-cash working capital items: |
|
|
Receivables |
2,832
|
404,458
|
Inventory |
(11,845)
|
(558,352)
|
Prepaids |
268,279
|
419,350
|
Trade payables and accrued liabilities |
(111,045)
|
392,643
|
Customer deposits |
(42,321)
|
40,467
|
Deferred income |
228
|
(59,732)
|
Cash used in operating activities |
(2,646,069)
|
(5,623,416)
|
INVESTING ACTIVITIES |
|
|
Purchase of equipment |
(4,066)
|
(74,415)
|
Disposal of equipment |
73,366
|
45,774
|
Repayment of notes receivable |
6,751
|
33,369
|
Cash provided by (used in) investing activities |
76,051
|
4,728
|
FINANCING ACTIVITIES |
|
|
Proceeds from issuance of common shares for financing |
4,877,475
|
12,605,112
|
Share issue costs |
(889,482)
|
(1,393,737)
|
Proceeds from issuance of common shares for warrants exercised |
513
|
|
Repayment of loans |
(81,685)
|
(1,686)
|
Repayment of lease liabilities |
(81,117)
|
(30,444)
|
Cash provided by (used in) financing activities |
3,825,704
|
11,179,245
|
Effects of exchange rate changes on cash |
(9,562)
|
(86,402)
|
Change in cash |
1,255,686
|
5,560,557
|
Cash and cash equivalents, beginning of period |
3,093,612
|
7,894,781
|
Cash and cash equivalents, end of period |
4,339,736
|
13,368,936
|
SUPPLEMENTARY CASH FLOW DISCLOSURE |
|
|
Interest paid |
21,522
|
11,817
|
Share issue costs in accounts payable |
$ 153,455
|
$ 246,836
|
X |
- DefinitionAdjustments for impairment of inventory.
+ References
+ Details
Name: |
DPRO_AdjustmentsForImpairmentOfInventory |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionChanges in items of working capital abstract.
+ References
+ Details
Name: |
DPRO_ChangesInItemsOfWorkingCapitalAbstract |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionGain loss on disposal of assets.
+ References
+ Details
Name: |
DPRO_GainLossOnDisposalOfAssets |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionImpairment (Gain) on recovery of notes receivable.
+ References
+ Details
Name: |
DPRO_ImpairmentGainOnRecoveryOfNotesReceivable |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionIncome expense from Government assistance.
+ References
+ Details
Name: |
DPRO_IncomeExpenseFromGovernmentAssistance |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionIncrease decrease in deferred income.
+ References
+ Details
Name: |
DPRO_IncreaseDecreaseInDeferredIncome |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionProceed from issuance of common stock.
+ References
+ Details
Name: |
DPRO_ProceedFromIssuanceOfCommonStock |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionRepayment of lease liability.
+ References
+ Details
Name: |
DPRO_RepaymentOfLeaseLiability |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionRepayment of notes receivable.
+ References
+ Details
Name: |
DPRO_RepaymentOfNotesReceivable |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionShare issue costs in accounts payable.
+ References
+ Details
Name: |
DPRO_ShareIssueCostsInAccountsPayable |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionSupplementary cash flow disclosure [abstract]
+ References
+ Details
Name: |
DPRO_SupplementaryCashFlowDisclosureAbstract |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAdjustments for amortisation expense to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss); Depreciation and amortisation expense]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 7 -IssueDate 2023-01-01 -Paragraph 20 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2023-en-r&anchor=para_20&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_AdjustmentsForAmortisationExpense |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionAdjustments for decrease (increase) in inventories to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Inventories; Profit (loss)]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 7 -IssueDate 2023-01-01 -Paragraph 20 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2023-en-r&anchor=para_20_a&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_AdjustmentsForDecreaseIncreaseInInventories |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionAdjustments for the decrease (increase) in prepaid expenses to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Current prepaid expenses; Profit (loss)]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 7 -IssueDate 2023-01-01 -Paragraph 20 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2023-en-r&anchor=para_20&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_AdjustmentsForDecreaseIncreaseInPrepaidExpenses |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionAdjustments for decrease (increase) in trade accounts receivable to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss)]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 7 -IssueDate 2023-01-01 -Paragraph 20 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2023-en-r&anchor=para_20_a&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionAdjustments for depreciation expense to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss)]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 7 -IssueDate 2023-01-01 -Paragraph 20 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2023-en-r&anchor=para_20&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_AdjustmentsForDepreciationExpense |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionAdjustments for increase (decrease) in deposits from customers to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Deposits from customers; Profit (loss)]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 7 -IssueDate 2023-01-01 -Paragraph 20 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2023-en-r&anchor=para_20&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_AdjustmentsForIncreaseDecreaseInDepositsFromCustomers |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionAdjustments for increase (decrease) in trade accounts payable to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss)]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 7 -IssueDate 2023-01-01 -Paragraph 20 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2023-en-r&anchor=para_20_a&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionAdjustments to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss)]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 7 -IssueDate 2023-01-01 -Paragraph 20 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2023-en-r&anchor=para_20&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_AdjustmentsForReconcileProfitLoss |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
ifrs-full_AdjustmentsForReconcileProfitLossAbstract |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAdjustments for share-based payments to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss)]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 7 -IssueDate 2023-01-01 -Paragraph 20 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2023-en-r&anchor=para_20_b&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_AdjustmentsForSharebasedPayments |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. [Refer: Cash; Cash equivalents]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 7 -IssueDate 2023-01-01 -Paragraph 45 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2023-en-r&anchor=para_45&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 12 -IssueDate 2023-01-01 -Paragraph B13 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2023-en-r&anchor=para_B13_a&doctype=Appendix&subtype=B -URIDate 2023-03-23
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 54 -Subparagraph i -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_54_i&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_CashAndCashEquivalents |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionThe cash flows from (used in) financing activities, which are activities that result in changes in the size and composition of the contributed equity and borrowings of the entity.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 7 -IssueDate 2023-01-01 -Paragraph 10 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2023-en-r&anchor=para_10&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 7 -IssueDate 2023-01-01 -Paragraph 50 -Subparagraph d -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2023-en-r&anchor=para_50_d&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_CashFlowsFromUsedInFinancingActivities |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe cash flows from (used in) investing activities, which are the acquisition and disposal of long-term assets and other investments not included in cash equivalents.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 7 -IssueDate 2023-01-01 -Paragraph 10 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2023-en-r&anchor=para_10&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 7 -IssueDate 2023-01-01 -Paragraph 50 -Subparagraph d -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2023-en-r&anchor=para_50_d&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_CashFlowsFromUsedInInvestingActivities |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe cash flows from (used in) operating activities, which are the principal revenue-producing activities of the entity and other activities that are not investing or financing activities. [Refer: Revenue]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 7 -IssueDate 2023-01-01 -Paragraph 10 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2023-en-r&anchor=para_10&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 7 -IssueDate 2023-01-01 -Paragraph 50 -Subparagraph d -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2023-en-r&anchor=para_50_d&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_CashFlowsFromUsedInOperatingActivities |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe effect of exchange rate changes on cash and cash equivalents held or due in a foreign currency. [Refer: Cash and cash equivalents]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 7 -IssueDate 2023-01-01 -Paragraph 25 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2023-en-r&anchor=para_25&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 7 -IssueDate 2023-01-01 -Paragraph 28 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2023-en-r&anchor=para_28&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe gains (losses) resulting from change in the fair value of derivatives recognised in profit or loss. [Refer: Derivatives [member]]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 85 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_85&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of impairment loss on financial assets. [Refer: Financial assets; Impairment loss]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Note Expired 2023-01-01 -Name IFRS -Number 7 -IssueDate 2023-01-01 -Paragraph 20 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2017-en-b&anchor=para_20_e&doctype=Standard&book=b -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_ImpairmentLossOnFinancialAssets |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe increase (decrease) in cash and cash equivalents before the effect of exchange rate changes on cash and cash equivalents held in foreign currencies. [Refer: Cash and cash equivalents; Effect of exchange rate changes on cash and cash equivalents]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 7 -IssueDate 2023-01-01 -Paragraph 45 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2023-en-r&anchor=para_45&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe cash outflow for share issue costs.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 7 -IssueDate 2023-01-01 -Paragraph 17 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2023-en-r&anchor=para_17&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_PaymentsForShareIssueCosts |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe cash inflow from the exercise of share purchase warrants.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 7 -IssueDate 2023-01-01 -Paragraph 17 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2023-en-r&anchor=para_17&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_ProceedsFromExerciseOfWarrants |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe cash inflow from sales of property, plant and equipment, classified as investing activities. [Refer: Property, plant and equipment]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Name IAS -Number 7 -IssueDate 2023-01-01 -Paragraph 16 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2023-en-r&anchor=para_16_b&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe cash outflow for the purchases of property, plant and equipment, classified as investing activities. [Refer: Property, plant and equipment]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Name IAS -Number 7 -IssueDate 2023-01-01 -Paragraph 16 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2023-en-r&anchor=para_16_a&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
v3.24.1.1.u2
NATURE AND CONTINUANCE OF OPERATIONS
|
3 Months Ended |
Mar. 31, 2024 |
Nature And Continuance Of Operations |
|
NATURE AND CONTINUANCE OF OPERATIONS |
1. NATURE AND CONTINUANCE OF OPERATIONS
Draganfly
Inc. (the “Company”) was incorporated on June 1, 2018 under the Business Corporations Act (British Columbia). The Company
creates quality, cutting-edge unmanned and remote data collection and analysis platforms and systems that are designed to revolutionize
the way companies do business. The Company’s shares trade on the Canadian Securities Exchange (the “CSE”), on the Nasdaq
Capital Market (the “Nasdaq”) under the symbol “DPRO” and on the Frankfurt Stock Exchange under the symbol “3U8A”.
The Company’s head office is located at 235 103rd St. E, Saskatoon, SK, S7N 1Y8 and its registered office is located
at 2800 – 666 Burrard Street, Vancouver, BC, V6C 2Z7.
These
condensed consolidated interim financial statements have been prepared on the assumption that the Company will continue as a going concern,
meaning it will continue in operation for the foreseeable future and will be able to realize assets and discharge liabilities in the
ordinary course of operations. To date, the Company has not been profitable and has an accumulated deficit of $105,452,164. The Company’s
ability to continue as a going concern is dependent upon its ability to obtain additional financing and or achieve profitable operations
in the future. These factors raise substantial doubt over the Company’s ability to continue as a going concern. These condensed
consolidated interim financial statements do not reflect adjustments that would be necessary if the going concern assumption were not
appropriate. These adjustments could be material.
|
X |
- References
+ Details
Name: |
DPRO_DisclosureNatureAndContinuanceOfOperationsAbstract |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of nature and continuance of operations explanatory.
+ References
+ Details
Name: |
DPRO_DisclosureOfNatureAndContinuanceOfOperationsExplanatory |
Namespace Prefix: |
DPRO_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.1.u2
BASIS OF PREPARATION
|
3 Months Ended |
Mar. 31, 2024 |
Basis Of Preparation |
|
BASIS OF PREPARATION |
2. BASIS OF PREPARATION
Statement
of Compliance
These
condensed consolidated interim financial statements have been prepared in accordance with International Accounting Standard (“IAS”)
34, “Interim Financial Reporting”. These condensed consolidated interim financial statements include all necessary disclosures
required for interim financial statements but do not include all disclosures required for annual financial statements. These condensed
consolidated interim financial statements should be read in conjunction with the Company’s annual financial statements for the
year ended December 31, 2023.
These
condensed consolidated interim financial statements were authorized for issue by the Board of Directors on May 14, 2024.
Basis
of consolidation
Each
subsidiary is fully consolidated from the date of acquisition, being the date on which the Company obtains control, and continues to
be consolidated until the date when such control ceases.
The
condensed consolidated interim financial statements include the accounts and results of operations of the Company and its wholly owned
subsidiaries listed in the following table:
SCHEDULE OF WHOLLY OWNED SUBSIDIARIES
Name of Subsidiary | |
Place of Incorporation | | |
Ownership Interest | |
Draganfly Innovations Inc. (DII) | |
| Canada | | |
| 100 | % |
Draganfly Innovations USA, Inc. (DI USA) | |
| US | | |
| 100 | % |
Dronelogics Systems Inc. (“Dronelogics”) | |
| Canada | | |
| 100 | % |
All
intercompany balances and transactions were eliminated on consolidation.
|
X |
- References
+ Details
Name: |
DPRO_DisclosureOfBasisOfPreparationAbstract |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe disclosure of the basis used for the preparation of the financial statements.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_10_e&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.1.u2
MATERIAL ACCOUNTING POLICY INFORMATION, ESTIMATES, AND JUDGEMENTS
|
3 Months Ended |
Mar. 31, 2024 |
Material Accounting Policy Information Estimates And Judgements |
|
MATERIAL ACCOUNTING POLICY INFORMATION, ESTIMATES, AND JUDGEMENTS |
3. MATERIAL ACCOUNTING POLICY INFORMATION, ESTIMATES, AND JUDGEMENTS
These
condensed consolidated interim financial statements have been prepared following the same accounting principles and methods of computation
as in outlined in the Company’s consolidated financial statements for the year ended December 31, 2023. A description of the accounting
standards and interpretations that have been adopted by the Company can be found in the notes of the annual financials statements for
the year ended December 31, 2023.
The
preparation of the condensed consolidated interim financial statements requires management to make assumptions and estimates that affect
the reported amounts of assets and liabilities at the date of the financial statements and reported amounts of income and expenses during
the reporting period. These condensed consolidated interim financial statements include estimates, which by their nature, are uncertain.
These assumptions and associated estimates are based on historical experience and other factors that are considered to be relevant. As
such, actual results may differ from estimates and the effect of such differences may be material. Significant estimates and judgements
used in the preparation of these condensed consolidated interim financial statements remained unchanged from those disclosed in the Company’s
annual consolidated financial statements for the year ended December 31, 2023.
|
v3.24.1.1.u2
X |
- DefinitionThe disclosure of cash and cash equivalents. [Refer: Cash and cash equivalents]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_10_e&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.1.u2
RECEIVABLES
|
3 Months Ended |
Mar. 31, 2024 |
Schedule Of Amounts Receivable |
|
RECEIVABLES |
5. RECEIVABLES
SCHEDULE
OF AMOUNTS RECEIVABLE
As at | |
March 31, 2024 | | |
December 31, 2023 | |
Trade accounts receivable | |
$ | 599,050 | | |
$ | 610,443 | |
Sales tax receivable | |
| 47,730 | | |
| 39,169 | |
Trade and other receivables | |
$ | 646,780 | | |
$ | 649,612 | |
Current portion | |
$ | 490,580 | | |
$ | 649,612 | |
Long term portion | |
| 156,200 | | |
| - | |
Trade and other receivables | |
$ | 646,780 | | |
$ | 649,612 | |
During
the three months ended March 31, 2024, the Company recorded a provision for doubtful accounts of $nil (2023 – $198,513).
The
long-term receivable represents a refundable deposit that allows for a two-year repayment term.
|
X |
- DefinitionDisclosure of amounts receivable explanatory.
+ References
+ Details
Name: |
DPRO_DisclosureOfAmountsReceivableExplanatory |
Namespace Prefix: |
DPRO_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
DPRO_DisclosureReceivablesAbstract |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.1.u2
INVENTORY
|
3 Months Ended |
Mar. 31, 2024 |
Notes and other explanatory information [abstract] |
|
INVENTORY |
6. INVENTORY
SCHEDULE OF INVENTORIES
As at | |
March 31, 2024 | | |
December 31, 2023 | |
Finished goods | |
$ | 1,104,798 | | |
$ | 904,858 | |
Parts | |
| 354,823 | | |
| 691,678 | |
Inventories | |
$ | 1,459,621 | | |
$ | 1,596,536 | |
During
the three months ended March 31, 2024, $966,339 (2023 - $1,012,881) of inventory was recognized in cost of sales including an allowance
to value its inventory for obsolete and slow-moving inventory of $148,760 (2023 -$77,047).
Cost
of sales consist of the following:
SCHEDULE
OF COST OF SALES
For the three months ended | |
March 31, 2024 | | |
March
31, 2023 | |
Inventory | |
$ | 966,339 | | |
$ | 1,012,881 | |
Consulting and services | |
| 22,474 | | |
| 93,654 | |
Other | |
| 60,757 | | |
| 51,517 | |
Cost of sales | |
$ | 1,049,570 | | |
$ | 1,158,052 | |
Draganfly
Inc.
Notes
to the Condensed Consolidated Interim Financial Statements
For
the Three Months Ended March 31, 2024
Expressed
in Canadian Dollars (unaudited)
|
X |
- DefinitionThe entire disclosure for inventories.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 2 -IssueDate 2023-01-01 -Section Disclosure -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=2&code=ifrs-tx-2023-en-r&doctype=Standard&dita_xref=IAS02_g36-39_TI -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_DisclosureOfInventoriesExplanatory |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.1.u2
PREPAIDS AND DEPOSITS
|
3 Months Ended |
Mar. 31, 2024 |
Notes and other explanatory information [abstract] |
|
PREPAIDS AND DEPOSITS |
7. PREPAIDS AND DEPOSITS
SCHEDULE
OF PREPAID EXPENSES AND DEPOSITS
As at | |
March 31, 2024 | | |
December 31, 2023 | |
Insurance | |
$ | 490,811 | | |
$ | 838,445 | |
Prepaid other | |
| 180,701 | | |
| 142,124 | |
Deposits | |
| 402,424 | | |
| 361,646 | |
Prepaid expenses and deposits | |
$ | 1,073,936 | | |
$ | 1,342,215 | |
|
X |
- DefinitionThe disclosure of prepayments and other assets. [Refer: Other assets; Prepayments]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_10_e&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_DisclosureOfPrepaymentsAndOtherAssetsExplanatory |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.1.u2
INVESTMENTS
|
3 Months Ended |
Mar. 31, 2024 |
Disclosure of detailed information about investment property [abstract] |
|
INVESTMENTS |
8. INVESTMENTS
SCHEDULE OF INVESTMENTS
Balance at December 31, 2023 | |
$ | 189,403 | |
Change in fair value | |
| (11,046 | ) |
Balance at March 31 2024 | |
$ | 178,357 | |
Fair
value of investments is comprised of:
SCHEDULE
OF FAIR VALUE OF INVESTMENT
Public company shares | |
$ | 42,857 | |
Private company shares | |
| 135,500 | |
Balance at March 31, 2024 | |
$ | 178,357 | |
The Company
holds 1,428,571
shares of a publicly listed company with an initial cost of $500,000.
The Company holds 50,000 common shares of a private company with an initial value of USD$100,000. The Company considers if observable
market data exists on a quarterly basis to value the investment. Since inception, the Company has not had any adjustments to the fair
value of the investment based on observable market data.
Draganfly
Inc.
Notes
to the Condensed Consolidated Interim Financial Statements
For
the Three Months Ended March 31, 2024
Expressed
in Canadian Dollars (unaudited)
|
X |
- References
+ Details
Name: |
ifrs-full_DisclosureOfInvestmentPropertyAbstract |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure for investment property.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 40 -IssueDate 2023-01-01 -Section Disclosure -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=40&code=ifrs-tx-2023-en-r&doctype=Standard&dita_xref=IAS40_g74-79_TI -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_DisclosureOfInvestmentPropertyExplanatory |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.1.u2
EQUIPMENT
|
3 Months Ended |
Mar. 31, 2024 |
Notes and other explanatory information [abstract] |
|
EQUIPMENT |
9. EQUIPMENT
SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT
| |
Computer Equipment | | |
Furniture and Equipment | | |
Leasehold Improvements | | |
Vehicles | | |
Total | |
Cost | |
| | | |
| | | |
| | | |
| | | |
| | |
Balance at December 31, 2022 | |
$ | 95,662 | | |
$ | 834,453 | | |
$ | - | | |
$ | 36,033 | | |
$ | 966,148 | |
Additions | |
| 58,611 | | |
| 320,941 | | |
| 86,530 | | |
| 24,310 | | |
| 490,394 | |
Disposals | |
| (21,000 | ) | |
| (115,204 | ) | |
| - | | |
| - | | |
| (136,204 | ) |
Balance at December 31, 2023 | |
| 133,273 | | |
| 1,040,192 | | |
| 86,530 | | |
| 60,343 | | |
| 1,320,338 | |
Property, plant and equipment, beginning balance | |
| 133,273 | | |
| 1,040,192 | | |
| 86,530 | | |
| 60,343 | | |
| 1,320,338 | |
Additions | |
| - | | |
| 1,706 | | |
| 2,358 | | |
| - | | |
| 4,064 | |
Disposals | |
| - | | |
| (76,901 | ) | |
| - | | |
| - | | |
| (76,901 | ) |
Balance at March 31, 2024 | |
$ | 133,273 | | |
$ | 964,997 | | |
$ | 88,888 | | |
$ | 60,343 | | |
$ | 1,247,501 | |
Property, plant
and equipment, ending balance | |
$ | 133,273 | | |
$ | 964,997 | | |
$ | 88,888 | | |
$ | 60,343 | | |
$ | 1,247,501 | |
| |
| | | |
| | | |
| | | |
| | | |
| | |
Accumulated depreciation | |
| | | |
| | | |
| | | |
| | | |
| | |
Balance at December 31, 2022 | |
$ | 41,998 | | |
$ | 502,790 | | |
$ | - | | |
$ | 16,669 | | |
$ | 561,457 | |
Charge for the year | |
| 22,762 | | |
| 112,361 | | |
| 6,790 | | |
| 12,497 | | |
| 154,410 | |
Disposals | |
| (6,582 | ) | |
| (69,748 | ) | |
| - | | |
| - | | |
| (76,330 | ) |
Balance at December 31, 2023 | |
| 58,178 | | |
| 545,403 | | |
| 6,790 | | |
| 29,166 | | |
| 639,537 | |
Accumulated depreciation
Property, plant and equipment, beginning balance | |
| 58,178 | | |
| 545,403 | | |
| 6,790 | | |
| 29,166 | | |
| 639,537 | |
Charge for the period | |
| 10,225 | | |
| 37,667 | | |
| 4,431 | | |
| 2,338 | | |
| 54,661 | |
Disposals | |
| - | | |
| (47,062 | ) | |
| - | | |
| - | | |
| (47,062 | ) |
Balance at March 31, 2024 | |
$ | 68,403 | | |
$ | 536,008 | | |
$ | 11,221 | | |
$ | 31,504 | | |
$ | 647,136 | |
Accumulated
depreciation Property, plant and equipment, ending balance | |
$ | 68,403 | | |
$ | 536,008 | | |
$ | 11,221 | | |
$ | 31,504 | | |
$ | 647,136 | |
| |
| | | |
| | | |
| | | |
| | | |
| | |
Net book value: | |
| | | |
| | | |
| | | |
| | | |
| | |
December 31, 2023 | |
$ | 75,095 | | |
$ | 494,789 | | |
$ | 79,740 | | |
$ | 31,177 | | |
$ | 680,801 | |
March 31, 2024 | |
$ | 64,870 | | |
$ | 428,989 | | |
$ | 77,667 | | |
$ | 28,839 | | |
$ | 600,365 | |
Property, plant
and equipment | |
$ | 64,870 | | |
$ | 428,989 | | |
$ | 77,667 | | |
$ | 28,839 | | |
$ | 600,365 | |
Draganfly
Inc.
Notes
to the Condensed Consolidated Interim Financial Statements
For
the Three Months Ended March 31, 2024
Expressed
in Canadian Dollars (unaudited)
|
X |
- DefinitionThe entire disclosure for property, plant and equipment.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 16 -IssueDate 2023-01-01 -Section Disclosure -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=16&code=ifrs-tx-2023-en-r&doctype=Standard&dita_xref=IAS16_g73-79_TI -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.1.u2
RIGHT OF USE ASSETS
|
3 Months Ended |
Mar. 31, 2024 |
RIGHT OF USE ASSETS |
10. RIGHT OF USE ASSETS
SCHEDULE
OF RIGHT OF USE ASSETS
| |
Vehicles | | |
Buildings | | |
Land | | |
Total | |
| |
| | | |
| | | |
| | | |
| | |
Balance at December 31, 2022 | |
$ | 2,385 | | |
$ | 342,361 | | |
$ | - | | |
$ | 344,746 | |
Additions | |
| - | | |
| 322,354 | | |
| 418,001 | | |
| 740,355 | |
Depreciation | |
| (2,385 | ) | |
| (149,644 | ) | |
| (211,057 | ) | |
| (363,086 | ) |
Foreign exchange translation | |
| - | | |
| - | | |
| (328 | ) | |
| (328 | ) |
Balance at December 31, 2023 | |
$ | - | | |
$ | 515,071 | | |
$ | 206,616 | | |
$ | 721,687 | |
Right of use assets, Cost, Balance | |
$ | - | | |
$ | 515,071 | | |
$ | 206,616 | | |
$ | 721,687 | |
Depreciation | |
$ | - | | |
$ | (35,681 | ) | |
$ | (52,777 | ) | |
$ | (88,458 | ) |
Foreign exchange translation | |
| - | | |
| - | | |
| 4,919 | | |
| 4,919 | |
Balance at March 31, 2024 | |
$ | - | | |
$ | 479,390 | | |
$ | 158,758 | | |
$ | 638,148 | |
Right of use assets, Cost, Balance | |
$ | - | | |
$ | 479,390 | | |
$ | 158,758 | | |
$ | 638,148 | |
The
Company added two new leases during the year ended December 31, 2023. A lease for land in the amount of $418,001
with an expiration date of December
31, 2024, and another lease for a facility in
the amount of $322,354
with an expiration date of September
30, 2028. The Company has four leases with expiration
dates of December
31, 2024, May
31, 2026, January
31, 2027, and September
30, 2028.
|
v3.24.1.1.u2
LEASE LIABILITIES
|
3 Months Ended |
Mar. 31, 2024 |
Notes and other explanatory information [abstract] |
|
LEASE LIABILITIES |
11. LEASE LIABILITIES
The
Company leases certain assets under lease agreements. The lease liabilities consist of leases of facilities and vehicles with terms ranging
from one to five years. The leases are calculated using incremental borrowing rates ranging from 7.5% to 13.25%. Extension options are
included in a majority of the leases with options that are only exercisable by the Company and not the other party.
SCHEDULE OF OPERATING LEASE LIABILITIES
As at | |
Total | |
Balance at December 31, 2022 | |
$ | 378,643 | |
Interest expense | |
| 96,423 | |
Additions | |
| 734,903 | |
Lease payments | |
| (423,410 | ) |
Foreign exchange translation | |
| 3,464 | |
Balance at December 31, 2023 | |
| 790,023 | |
Interest expense | |
| 20,323 | |
Lease payments | |
| (101,440 | ) |
Foreign exchange translation | |
| (1,064 | ) |
Balance at March 31, 2024 | |
$ | 707,842 | |
Which
consists of:
| |
March 31, 2024 | | |
December 31, 2023 | |
Current lease liability | |
$ | 316,931 | | |
$ | 362,001 | |
Non-current lease liability | |
| 390,911 | | |
| 428,022 | |
Ending balance | |
$ | 707,842 | | |
$ | 790,023 | |
SCHEDULE OF OPERATING MATURITY ANALYSIS
Maturity analysis | |
Total | |
Less than one year | |
$ | 372,356 | |
One to three years | |
| 334,746 | |
Four to five years | |
| 114,937 | |
Total undiscounted lease liabilities | |
| 822,039 | |
Amount representing interest | |
| (114,197 | ) |
Lease liability | |
$ | 707,842 | |
Draganfly
Inc.
Notes
to the Condensed Consolidated Interim Financial Statements
For
the Three Months Ended March 31, 2024
Expressed
in Canadian Dollars (unaudited)
|
X |
- DefinitionThe entire disclosure for leases.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2023-01-01 -Section Presentation -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2023-en-r&doctype=Standard&dita_xref=IFRS16_g47-50_TI -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2023-01-01 -Section Disclosure -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2023-en-r&doctype=Standard&dita_xref=IFRS16_g51-60_TI -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_DisclosureOfLeasesExplanatory |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.1.u2
TRADE PAYABLES AND ACCRUED LIABILITIES
|
3 Months Ended |
Mar. 31, 2024 |
Notes and other explanatory information [abstract] |
|
TRADE PAYABLES AND ACCRUED LIABILITIES |
12.
TRADE PAYABLES AND ACCRUED LIABILITIES
SCHEDULE OF TRADE PAYABLES AND ACCRUED LIABILITIES
As at | |
March 31, 2024 | | |
December 31, 2023 | |
Trade accounts payable | |
$ | 1,159,489 | | |
$ | 1,259,623 | |
Accrued liabilities | |
| 1,203,738 | | |
| 1,345,649 | |
Government grant payable | |
| 33,709 | | |
| 33,709 | |
Trade payables and accrued liabilities | |
$ | 2,396,936 | | |
$ | 2,638,981 | |
|
X |
- DefinitionThe disclosure of trade and other payables. [Refer: Trade and other payables]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_10_e&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_DisclosureOfTradeAndOtherPayablesExplanatory |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.1.u2
DEFERRED INCOME
|
3 Months Ended |
Mar. 31, 2024 |
Schedule Of Deferred Income |
|
DEFERRED INCOME |
13. DEFERRED INCOME
At
times, the Company may take payment in advance for services to be rendered. These amounts are held and recognized as services are rendered.
SCHEDULE
OF DEFERRED INCOME
As at | |
March 31, 2024 | | |
December 31, 2023 | |
Deferred income from customers | |
$ | 6,287 | | |
$ | 12,112 | |
Deferred income from government | |
| 101,615 | | |
| 95,562 | |
Deferred
income gross | |
$ | 107,902 | | |
$ | 107,674 | |
Current portion | |
$ | 16,439 | | |
$ | 12,112 | |
Long-term portion | |
| 91,463 | | |
| 95,562 | |
Deferred income net | |
$ | 107,902 | | |
$ | 107,674 | |
Deferred
revenue of $16,439 as
of March 31, 2024 is expected to be recognized as revenue within one year. The remaining is related to a long-term support and maintenance
arrangements and will be recognized according to the terms of these arrangements over the next 4.3
years.
|
X |
- References
+ Details
Name: |
DPRO_DisclosureOfDeferredIncomeAbstract |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe disclosure of deferred income. [Refer: Deferred income including contract liabilities]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_10_e&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_DisclosureOfDeferredIncomeExplanatory |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.1.u2
LOANS PAYABLE
|
3 Months Ended |
Mar. 31, 2024 |
Notes and other explanatory information [abstract] |
|
LOANS PAYABLE |
14. LOANS PAYABLE
SCHEDULE
OF LOANS PAYABLE
As at | |
March 31, 2024 | | |
December 31, 2023 | |
Opening balance | |
$ | 85,058 | | |
$ | 86,571 | |
Repayment of loans payable | |
| (81,685 | ) | |
| (6,747 | ) |
Accretion expense | |
| - | | |
| 5,234 | |
Ending balance | |
$ | 3,373 | | |
$ | 85,058 | |
SCHEDULE
OF LOANS
| |
Start Date | |
Maturity Date | |
Rate | | |
Carrying Value March 31, 2024 | | |
Carrying Value December 31, 2023 | |
CEBA | |
2020-05-19 | |
2024-03-28 | |
| 0 | % | |
$ | - | | |
$ | 40,000 | |
CEBA | |
2021-04-23 | |
2024-03-28 | |
| 0 | % | |
| - | | |
| 40,000 | |
Vehicle loan | |
2019-08-30 | |
2024-09-11 | |
| 6.99 | % | |
| 3,373 | | |
| 5,058 | |
Total | |
| |
| |
| | | |
$ | 3,373 | | |
$ | 85,058 | |
Total Carrying Value | |
| |
| |
| | | |
$ | 3,373 | | |
$ | 85,058 | |
The
CEBA loans are unsecured, and the vehicle loan is secured by the vehicle. The CEBA loans were repaid March 25, 2024.
Draganfly
Inc.
Notes
to the Condensed Consolidated Interim Financial Statements
For
the Three Months Ended March 31, 2024
Expressed
in Canadian Dollars (unaudited)
|
X |
- DefinitionThe disclosure of loans and advances to customers. [Refer: Loans and advances to customers]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_10_e&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_DisclosureOfLoansAndAdvancesToCustomersExplanatory |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.1.u2
SHARE CAPITAL
|
3 Months Ended |
Mar. 31, 2024 |
SHARE CAPITAL |
15. SHARE CAPITAL
Authorized
share capital
Unlimited
number of common shares without par value.
Issued
share capital
During
the three months ended March 31, 2024,
| ● | The
Company issued 63,658 common shares for the vesting of restricted share units. |
| ● | The
Company issued 3,800,000 common shares for the exercise of warrants |
| ● | The
Company issued 11,200,000
units
consisting of one common share and one warrant and 2,200,00 units consisting of one prefunded
warrant and one warrant in a financing for $4,877,475
with
share issuance costs of $752,498
for
net proceeds of $4,274,391.
Of the total share issuance costs $441,166
were
expensed in other income (expense). Value of the issuance was allocated $2,017,966 to
the shares, and $2,859,509 to the warrants, including $431,084 allocated to prefunded warrants.
The prefunded warrants were exercised on the date of issue. |
| ● | 900,000
shares were returned to treasury that were held in escrow related to the Vital Intelligence
Inc. acquisition for failure to meet required milestones. All value that had been recorded
related to these shares had been previously written off. |
During
the year ended December 31, 2023,
| ● | The
Company issued 1,508,255 common shares for the vesting of restricted share units. |
| ● | The
Company issued 8,000,000 common shares in a financing for $10,856,166 with share issuance
costs of $1,953,032 for net proceeds of $8,903,134. |
| ● | The
Company issued 650,729 common shares in an ATM (“At – the - market”) financing
for $1,748,946 with share issuance costs of $222,136 for net proceeds of $1,526,810. |
| ● | The
Company issued 4,800,000
common shares in a financing for proceeds of
$4,858,995
with share issuance costs of $889,623
for net proceeds of $3,969,372.
Of the total share issuance costs $793,979
were expensed in other income (expense). Value
of the issuance was allocated $520,064
to the shares and $4,338,931
to derivative liability. |
Stock
Options
The
Company has adopted an incentive share compensation plan, which provides that the Board of Directors of the Company may from time to
time, in its discretion, and in accordance with the CSE requirements, grant to directors, officers, employees, and technical consultants
to the Company, non-transferable stock options to purchase common shares. The total number of common shares reserved and available for
grant and issuance pursuant to this plan shall not exceed 20% (in the aggregate) of the issued and outstanding common shares from time
to time. The number of options awarded and underlying vesting conditions are determined by the Board of Directors in its discretion.
As
at March 31, 2024, the Company had the following options outstanding and exercisable:
SCHEDULE OF STOCK OPTIONS OUTSTANDING AND EXERCISABLE
Grant Date | |
Expiry Date | |
Exercise Price | | |
Remaining Contractual Life (years) | | |
Number of Options Outstanding | | |
Number of Options Exercisable | |
October 30, 2019 | |
October 30, 2029 | |
$ | 2.50 | | |
| 5.57 | | |
| 278,332 | | |
| 278,332 | |
November 19, 2019 | |
November 19, 2029 | |
$ | 2.50 | | |
| 5.63 | | |
| 50,000 | | |
| 50,000 | |
April 30, 2020 | |
April 30, 2030 | |
$ | 2.50 | | |
| 6.07 | | |
| 85,000 | | |
| 85,000 | |
April 30, 2020 | |
April 30, 2030 | |
$ | 3.85 | | |
| 6.07 | | |
| 110,000 | | |
| 110,000 | |
July 3, 2020 | |
July 3, 2025 | |
$ | 3.20 | | |
| 1.25 | | |
| 100,000 | | |
| 100,000 | |
November 24, 2020 | |
November 24, 2030 | |
$ | 2.50 | | |
| 6.64 | | |
| 32,000 | | |
| 32,000 | |
February 2, 2021 | |
February 2, 2031 | |
$ | 13.20 | | |
| 6.83 | | |
| 30,000 | | |
| 30,000 | |
March 8, 2021 | |
March 8, 2026 | |
$ | 13.90 | | |
| 1.93 | | |
| 10,000 | | |
| 10,000 | |
April 27, 2021 | |
April 27, 2031 | |
$ | 10.15 | | |
| 7.06 | | |
| 137,665 | | |
| 113,994 | |
September 9, 2021 | |
September 9, 2026 | |
$ | 4.84 | | |
| 2.44 | | |
| 25,826 | | |
| 17,217 | |
November 9, 2023 | |
November 9, 2033 | |
$ | 0.626 | | |
| 9.59 | | |
| 30,000 | | |
| 10,000 | |
| |
| |
| | | |
| | | |
| 888,823 | | |
| 836,543 | |
Draganfly
Inc.
Notes
to the Condensed Consolidated Interim Financial Statements
For
the Three Months Ended March 31, 2024
Expressed
in Canadian Dollars (unaudited)
15. |
SHARE CAPITAL (CONT’D) |
SCHEDULE
OF STOCK OPTIONS OUTSTANDING
| |
Number of Options | | |
Weighted Average Exercise Price | |
Outstanding, December 31, 2022 | |
| 877,157 | | |
$ | 4.60 | |
Forfeited | |
| (9,999 | ) | |
| 3.77 | |
Issued | |
| 30,000 | | |
| 0.63 | |
Outstanding, December 31, 2023 | |
| 897,158 | | |
$ | 4.48 | |
Forfeited | |
| (8,335 | ) | |
| 10.15 | |
Outstanding, March 31, 2024 | |
| 888,823 | | |
$ | 4.42 | |
No
options were granted by the Company during the three months ended March 31, 2024.
During
the three months ended March 31, 2024, the Company recorded $26,689 (2023 – $103,012) in stock-based compensation in relation to
the vesting of stock options. The fair values of stock options granted were estimated using the Black-Scholes Option Pricing Model.
Restricted
Share Units
During
the three months ended March 31, 2024, the Company recorded share-based payment expense of $172,218 (2023 - $437,551) for RSUs, based
on the fair values of RSUs granted which were calculated using the closing price of the Company’s stock on the day prior to grant.
The
Company has adopted an incentive share compensation plan, which provides that the Board of Directors of the Company may from time to
time, in its discretion, and in accordance with the Exchange requirements, grant to directors, officers, employees and technical
consultants to the Company, restricted stock units (RSUs). The number of RSUs awarded and underlying vesting conditions are
determined by the Board of Directors in its discretion. RSUs will have a 3-year vesting period following the award date. The
total number of common shares reserved and available for grant and issuance pursuant to this plan, and the total number of
Restricted Share Units that may be awarded pursuant to this plan, shall not exceed 20% (in the aggregate) of the issued and
outstanding common shares from time to time.
As
at March 31, 2024, the Company had the following RSUs outstanding:
SUMMARY OF CHANGES IN RESTRICTED STOCK UNITS
| |
Number of RSUs | |
Outstanding, December 31, 2022 | |
| 1,198,875 | |
Vested | |
| (1,508,255 | ) |
Issued | |
| 1,685,316 | |
Forfeited | |
| (262,969 | ) |
Outstanding, December 31, 2023 | |
| 1,112,967 | |
Vested | |
| (63,658 | ) |
Forfeited | |
| (36,203 | ) |
Outstanding, March 31, 2024 | |
| 1,013,106 | |
Draganfly
Inc.
Notes
to the Condensed Consolidated Interim Financial Statements
For
the Three Months Ended March 31, 2024
Expressed
in Canadian Dollars (unaudited)
15. |
SHARE CAPITAL (CONT’D) |
Warrants
During
the three months ended March 31, 2024 and the year ended December 31, 2023, the Company issued pre-funded warrants (“USD pre-funded
Warrants”) where a portion of the funds related to the eventual exercise have already been received with the remaining exercise
price in USD. Being in a foreign currency that is not the Company’s functional currency and these pre-funded warrants were not
issued in exchange for services, the value related to the future exercise price of the USD pre-funded Warrants are required to be recorded
as a financial liability and not as equity. As a financial liability, the portion of the USD pre-funded Warrants related to the future
exercise price will be revalued on a quarterly basis to fair market value with the change in fair value being recorded in profit or loss.
To
reach a fair value of the USD Warrants, a Black Scholes calculation is used, calculated in USD as the Company also trades on the Nasdaq.
The Black Scholes value per USD Warrant is then multiplied by the number of outstanding warrants and then multiplied by the foreign exchange
rate at the end of the period. At the date of issue the warrants were valued with a risk free rate of 4.33%, volatility of 119.23%, expected life
of 5 years and an expected dividend yield rate of 0%. The broker warrants were valued with a risk free rate of 4.48%, volatility of 107.8%,
expected life of 3 years and an expected dividend yield of 0%.
Warrant
Derivative Liability
SCHEDULE OF WARRANT DERIVATIVE LIABILITY
Balance at December 31, 2022 | |
$ | - | |
Warrants issued | |
| 3,985,015 | |
Change in fair value of warrants outstanding | |
| 211,110 | |
Balance at December 31, 2023 | |
$ | 4,196,125 | |
Warrants issued | |
| 2,859,509 | |
Warrants exercised | |
| (1,204,491 | ) |
Change in fair value of warrants outstanding | |
| (1,817,569 | ) |
Balance at March 31, 2024 | |
$ | 4,033,574 | |
Derivative liability balance at | |
March 31, 2024 | | |
December 31, 2023 | |
Warrants | |
$ | 4,033,574 | | |
$ | 4,196,125 | |
Draganfly
Inc.
Notes
to the Condensed Consolidated Interim Financial Statements
For
the Three Months Ended March 31, 2024
Expressed
in Canadian Dollars (unaudited)
15. |
SHARE CAPITAL (CONT’D) |
Details
of these warrants and their fair values are as follows:
SCHEDULE
OF WARRANT AND FAIR VALUE OUTSTANDING
Issue
Date | |
Exercise
Price | | |
Number
of Warrants Outstanding at March 31, 2024 | | |
Fair
Value at March 31, 2024 | | |
Number
of Warrants Outstanding at December 31, 2023(5) | | |
Fair
Value at December 31, 2023 | |
October 30,
2023 (1) | |
US$ | 0.6123 | | |
| 6,400,000 | | |
| 1,130,828 | | |
| 6,400,000 | | |
| 3,180,543 | |
October
30, 2023 (2) | |
US$ | 0.0001 | | |
| - | | |
| - | | |
| 1,600,000 | | |
| 1,015,582 | |
February
26, 2024 (3) | |
US$ | 0.1761 | | |
| 13,400,000 | | |
| 2,902,746 | | |
| - | | |
| - | |
February
26, 2024 (4) | |
US$ | 0.17 | | |
| - | | |
| - | | |
| - | | |
| - | |
| |
| | | |
| 19,800,000 | | |
$ | 4,033,574 | | |
| 8,000,000 | | |
$ | 4,196,125 | |
|
1) | The
warrants expire October 30, 2028. |
|
2) | The
warrants have no expiry date. They were exercised January 5, 2024. |
|
3) | The
warrants expire February 26, 2029. |
|
4) | The
warrants have no expiry date. They were exercised February 26, 2024. |
The
fair values of these warrants were estimated using the Black-Scholes Option Pricing Model with the following weighted average assumptions:
SCHEDULE OF WEIGHTED AVERAGE ASSUMPTION FOR WARRANTS
| |
March 31, 2024 | | |
December 31, 2023 | |
Risk free interest rate | |
| 4.21 | % | |
| 3.84 | % |
Expected volatility | |
| 119.47 | % | |
| 113.78 | % |
Expected life | |
| 4.6 - 4.91 years | | |
| 4.8 years | |
Expected dividend yield | |
| 0 | % | |
| 0 | % |
SUMMARY OF CHANGES IN WARRANTS
| |
Number of Warrants | | |
Weighted Average Exercise Price | |
Outstanding, December 31, 2022 | |
| 7,916,797 | | |
$ | 5.08 | |
Issued | |
| 8,320,000 | | |
| 0.50 | |
Expired | |
| (7,661,999 | ) | |
| |
Outstanding, December 31, 2023 | |
| 8,574,798 | | |
$ | 0.63 | |
Issued | |
| 16,270,000 | | |
| 0.22 | |
Exercised | |
| (3,800,000 | ) | |
| 0.0001 | |
Outstanding March 31, 2024 | |
| 21,044,798 | | |
$ | 0.51 | |
Draganfly
Inc.
Notes
to the Condensed Consolidated Interim Financial Statements
For
the Three Months Ended March 31, 2024
Expressed
in Canadian Dollars (unaudited)
15. |
SHARE CAPITAL (CONT’D) |
As
at March 31, 2024, the Company had the following warrants outstanding:
SCHEDULE OF WARRANTS OUTSTANDING
Date
issued | |
Expiry
date | |
Exercise
price | | |
Number
of warrants outstanding | |
July 29, 2021 | |
July 29, 2024 | |
US$ | 5.00 | | |
| 250,000 | |
September 14, 2021 | |
September 14, 2024 | |
US$ | 5.00 | | |
| 4,798 | |
October 30, 2023 | |
October 30, 2026 | |
US$ | 0.6875 | | |
| 320,000 | |
October 30, 2023 | |
October 30, 2028 | |
US$ | 0.6123 | | |
| 6,400,000 | |
February 26, 2024 | |
February 26, 2027 | |
US$ | 0.3375 | | |
| 670,000 | |
February
26, 2024 | |
February
26, 2029 | |
US$ | 0.1761 | | |
| 13,400,000 | |
| |
| |
| | | |
| 21,044,798 | |
The
weighted average remaining contractual life of warrants outstanding as of March 31, 2024, was 4.66 years (December 31, 2023 – 4.63
years).
|
X |
- DefinitionThe disclosure of classes of share capital. [Refer: Share capital [member]]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 79 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_79_a&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.1.u2
SEGMENTED INFORMATION
|
3 Months Ended |
Mar. 31, 2024 |
Notes and other explanatory information [abstract] |
|
SEGMENTED INFORMATION |
16. SEGMENTED INFORMATION
The
Company organizes its three segments based on product lines as well as a Corporate segment. The three segments are Drones, Vital (Vital
Intelligence), and Corporate. The Drones segment derives its revenue from products and services related to the sale of unmanned aerial
vehicles (UAV). The Vital segment derives its revenue from the sale of products that measure vitals to help detect symptoms from large
groups of people from a distance. The Corporate segment includes all costs not directly associated with the Drone and Vital segments.
The Company aggregates the information for the segments by analyzing the revenue steam and allocating direct costs to that respective
segment. The Corporate segment is aggregated by relying on the entity that includes corporate costs (Draganfly Inc.).
SCHEDULE
OF SEGMENTED INFORMATION
March 31, 2024 | |
Drones | | |
Vital | | |
Corporate | | |
Total | |
Sales of goods | |
$ | 1,237,948 | | |
$ | - | | |
$ | - | | |
$ | 1,237,948 | |
Provision of services | |
| 91,633 | | |
| - | | |
| - | | |
| 91,633 | |
Total revenue | |
| 1,329,581 | | |
| - | | |
| - | | |
| 1,329,581 | |
Segment loss (income) | |
| 1,267,167 | | |
| - | | |
| (1,500,860 | ) | |
| (233,693 | ) |
Finance and other costs | |
| (21,522 | ) | |
| - | | |
| - | | |
| (21,522 | ) |
Depreciation | |
| 139,109 | | |
| - | | |
| 4,013 | | |
| 143,122 | |
Amortization | |
| 2,821 | | |
| - | | |
| - | | |
| 2,821 | |
Change in fair value of derivative liability | |
| - | | |
| - | | |
| 1,817,569 | | |
| 1,817,569 | |
Loss on write-off of notes receivable | |
| - | | |
| - | | |
| 6,751 | | |
| 6,751 | |
Loss on write down of inventory | |
| 148,760 | | |
| - | | |
| - | | |
| 148,760 | |
Net loss for the period | |
$ | 1,536,335 | | |
$ | - | | |
$ | 327,473 | | |
$ | 1,863,808 | |
March 31, 2023 | |
Drones | | |
Vital | | |
Corporate | | |
Total | |
Sales of goods | |
$ | 1,380,816 | | |
$ | - | | |
$ | - | | |
$ | 1,380,816 | |
Provision of services | |
| 220,670 | | |
| - | | |
| - | | |
| 220,670 | |
Total revenue | |
| 1,601,486 | | |
| - | | |
| - | | |
| 1,601,486 | |
Segment loss | |
| 4,545,828 | | |
| 73,817 | | |
| 2,397,614 | | |
| 7,017,259 | |
Segment loss (income) | |
| 4,545,828 | | |
| 73,817 | | |
| 2,397,614 | | |
| 7,017,259 | |
Finance and other costs | |
| (34,304 | ) | |
| - | | |
| (1,557 | ) | |
| (35,861 | ) |
Depreciation | |
| 55,113 | | |
| - | | |
| 2,393 | | |
| 57,506 | |
Amortization | |
| 8,989 | | |
| - | | |
| - | | |
| 8,989 | |
Change in fair value of derivative liability | |
| - | | |
| - | | |
| (57,314 | ) | |
| (57,314 | ) |
Loss on write-off of notes receivable | |
| 77,047 | | |
| - | | |
| - | | |
| 77,047 | |
Net loss for the period | |
$ | 4,652,673 | | |
$ | 73,817 | | |
$ | 2,341,136 | | |
$ | 7,067,626 | |
Draganfly
Inc.
Notes
to the Condensed Consolidated Interim Financial Statements
For
the Three Months Ended March 31, 2024
Expressed
in Canadian Dollars (unaudited)
16. |
SEGMENTED INFORMATION (CONT’D) |
Geographic
revenue is measured by aggregating sales based on the country and the entity where the sale was made.
SCHEDULE
OF GEOGRAPHIC REVENUE
| |
2024 | | |
2023 | |
Geographic segmentation is as follows: | |
For the three months ended March 31, | |
| |
2024 | | |
2023 | |
Non-current assets | |
| | | |
| | |
Canada | |
$ | 1,467,917 | | |
$ | 1,162,200 | |
United States | |
| 158,758 | | |
| - | |
| |
$ | 1,626,675 | | |
$ | 1,162,200 | |
Revenue | |
| | | |
| | |
Canada | |
$ | 1,327,333 | | |
$ | 1,592,094 | |
United States | |
| 2,248 | | |
| 9,392 | |
Revenue | |
$ | 1,329,581 | | |
$ | 1,601,486 | |
|
X |
- DefinitionThe entire disclosure for operating segments.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 8 -IssueDate 2023-01-01 -Section Disclosure -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&doctype=Standard&dita_xref=IFRS08_g20-24_TI -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.1.u2
OFFICE AND MISCELLANEOUS
|
3 Months Ended |
Mar. 31, 2024 |
Notes and other explanatory information [abstract] |
|
OFFICE AND MISCELLANEOUS |
17. OFFICE AND MISCELLANEOUS
SCHEDULE OF OFFICE AND MISCELLANEOUS EXPENSES
| |
2024 | | |
2023 | |
| |
For the three months ended March 31, | |
| |
2024 | | |
2023 | |
Advertising, Marketing, and Investor Relations | |
$ | 110,073 | | |
$ | 2,306,452 | |
Compliance fees | |
| 64,031 | | |
| 27,307 | |
Impairment of accounts receivable | |
| - | | |
| 198,513 | |
Contract Work | |
| - | | |
| 47,081 | |
Other | |
| 172,166 | | |
| 221,299 | |
Office and Miscellaneous Expenses | |
$ | 346,270 | | |
$ | 2,800,652 | |
|
X |
- DefinitionThe disclosure of other operating expense. [Refer: Other operating income (expense)]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_10_e&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_DisclosureOfOtherOperatingExpenseExplanatory |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.1.u2
OTHER EXPENSE
|
3 Months Ended |
Mar. 31, 2024 |
Notes and other explanatory information [abstract] |
|
OTHER EXPENSE |
18.
OTHER EXPENSE
SCHEDULE OF OTHER EXPENSES
| |
2024 | |
2023 |
| |
For the three months ended March 31, |
| |
2024 | |
2023 |
Share issue costs | |
$ | 598,529 | | |
$ | - | |
Write off of accounts (payable) receivable | |
| (48,833 | ) | |
| - | |
Other | |
| 2,598 | | |
| 424 | |
Total Other expenses | |
$ | 525,948 | | |
$ | 424 | |
|
X |
- DefinitionThe disclosure of other operating income or expense. [Refer: Other operating income (expense)]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_10_e&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_DisclosureOfOtherOperatingIncomeExpenseExplanatory |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.1.u2
RELATED PARTY TRANSACTIONS
|
3 Months Ended |
Mar. 31, 2024 |
Notes and other explanatory information [abstract] |
|
RELATED PARTY TRANSACTIONS |
19.
RELATED PARTY
TRANSACTIONS
Trade
receivables/payables and accrued receivables/payables:
As
at March 31, 2024, the Company had $298,100
(2023 - $22,350)
payable to related parties that was included in accounts payable. The balances outstanding are unsecured, non-interest bearing and due
on demand.
Key
management compensation
Key
management personnel include those persons having authority and responsibility for planning, directing and controlling the activities
of the Company as a whole. Compensation awarded to key management for the three months ended March 31, 2024 and 2023 included:
SCHEDULE OF KEY COMPENSATION AWARDS
| |
2024 | | |
2023 | |
| |
For the three months ended March 31, | |
| |
2024 | | |
2023 | |
Director fees | |
$ | 152,438 | | |
$ | 151,663 | |
Salaries | |
| 142,068 | | |
| 102,115 | |
Share-based payments | |
| 122,112 | | |
| 263,242 | |
Total | |
$ | 416,618 | | |
$ | 517,020 | |
Draganfly
Inc.
Notes
to the Condensed Consolidated Interim Financial Statements
For
the Three Months Ended March 31, 2024
Expressed
in Canadian Dollars (unaudited)
Other
related party transactions
SCHEDULE OF KEY MANAGEMENT TRANSACTIONS
| |
2024 | | |
2023 | |
| |
For the three months ended March 31, | |
| |
2024 | | |
2023 | |
Management fees paid to a company controlled by CEO and director | |
$ | 106,250 | | |
$ | 100,000 | |
Management fees paid to a company that the CEO holds an economic interest in | |
| 60,000 | | |
| 103,629 | |
Management fees paid to a company controlled by the former President and director | |
| 40,433 | | |
| 58,398 | |
Management fees paid to a company, total | |
$ | 206,683 | | |
$ | 262,027 | |
|
v3.24.1.1.u2
FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT
|
3 Months Ended |
Mar. 31, 2024 |
FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT |
20.
FINANCIAL
INSTRUMENTS AND FINANCIAL RISK MANAGEMENT
The
Company is exposed in varying degrees to a variety of financial instrument related risks. The Board of Directors approves and monitors
the risk management processes, inclusive of documented investment policies, counterparty limits, and controlling and reporting structures.
The type of risk exposure and the way in which such exposure is managed is provided as follows:
Credit
risk
Credit
risk is the risk that of an unexpected loss if a customer or third party fails to meet its contractual obligations.
The
Company is subject to credit risk on its cash and receivables. The majority of cash is deposited in bank accounts held with a major
bank in Canada and the United States. As most of the Company’s cash is held by one bank there is a concentration of credit risk.
This risk is managed by using major banks that are high credit quality financial institutions as determined by rating agencies.
Receivables
Receivables
primarily consist of trade receivables and taxes receivable. The Company provides credit in the normal course of business in the form
of payment terms and has an established process for determining terms to offer customers to mitigate credit risk. Receivables are shown
net of any provision made for impairment of the receivables. Due to this factor, the Company believes that no additional credit risk,
beyond amounts provided for collection loss, is inherent in receivables.
Expected
credit loss (“ECL”) analysis is performed at each reporting date using an objective approach to measure expected credit losses.
The provision amounts are based on direct management interface with the customer. The calculations reflect the probability-weighted outcome,
the time value of money and reasonable supportable information that is available at the reporting date about past events, current conditions
and forecasts of future economic conditions. Receivables are written off where there is no reasonable expectation of recovery. Indicators
that there is no reasonable expectation of recovery include, amongst others, business failure, the failure of a debtor to engage in a
repayment plan, and a failure to make contractual payments over the negotiated contract period.
Trade
receivables include balances of $170,211 that are past due with no corresponding allowance recorded.
The
Company does have past due outstanding receivables however the expected loss rate for undue balance is estimated to be nominal.
Draganfly
Inc.
Notes
to the Condensed Consolidated Interim Financial Statements
For
the Three Months Ended March 31, 2024
Expressed
in Canadian Dollars (unaudited)
20.
FINANCIAL INSTRUMENTS AND FINANCIAL RISK
MANAGEMENT (CONT’D)
Fair
value
A
number of the Company’s accounting policies and disclosures require the measurement of fair values for financial assets and liabilities.
The Company has established a control framework with respect to the measurement of fair values. Fair values are categorized into different
levels of a fair value hierarchy based on the inputs used in the valuation techniques as follows:
Level
1: quoted (unadjusted) prices in active markets for identical assets or liabilities.
Level
2: other techniques for which all inputs which have a significant effect on the recorded fair value are observable, either directly or
indirectly.
Level
3: techniques which use inputs which have a significant effect on the recorded fair value that are not based on observable market data.
Equity
securities in investee companies and warrants are measured at fair value. The financial assets and liabilities measured at fair value
by hierarchy are shown in the table below. The amounts shown are based on the amounts recognized in the condensed consolidated interim
statements of financial position. These financial assets are measured at fair value through profit and loss.
SCHEDULE OF FINANCIAL ASSETS MEASURED FAIR VALUE THROUGH PROFIT AND LOSS
March 31 2024 | |
Level 1 | | |
Level 3 | | |
Total | |
Cash and cash equivalents | |
$ | 4,339,736 | | |
$ | - | | |
$ | 4,339,736 | |
Equity securities in investee companies | |
| 42,857 | | |
| 135,500 | | |
| 178,357 | |
Derivative liability | |
| - | | |
| 4,033,574 | | |
| 4,033,574 | |
Total | |
$ | 4,382,593 | | |
$ | 4,169,074 | | |
$ | 8,551,667 | |
December 31, 2023 | |
Level 1 | | |
Level 3 | | |
Total | |
Cash and cash equivalents | |
$ | 3,093,612 | | |
| - | | |
$ | 3,093,612 | |
Equity securities in investee companies | |
$ | 57,143 | | |
$ | 132,260 | | |
$ | 189,403 | |
Derivative liability | |
| - | | |
| 4,196,125 | | |
| 4,196,125 | |
Total | |
$ | 3,150,755 | | |
$ | 4,328,385 | | |
$ | 7,479,140 | |
The
following table shows the valuation techniques used in measuring Level 3 fair values for the derivative liability as well as the significant
unobservable inputs used.
Type |
|
Valuation
technique |
|
Key
inputs |
|
Inter-relationship
between significant inputs and fair value measurement |
Warrant
derivative liability |
|
The
fair value of the warrants derivative liability at initial recognition and at year end has been calculated using the Black Scholes
Option Pricing Model |
|
Key
observable inputs
●
Share price
●
Risk free interest rate
●
Dividend yield
Key
unobservable inputs
●
Expected volatility |
|
The
estimated fair value would increase (decrease) if:
●
The price was higher (lower)
●
The risk-free rate was higher (lower)
●
The dividend yield was lower (higher)
●
The expected volatility was higher (lower) |
For
the fair value of the derivative liability, reasonable possible changes to the expected volatility, the most significant unobservable
input would have the following effects:
SCHEDULE OF FAIR VALUE FOR DERIVATIVE LIABILITY
| |
| | |
Impact on comprehensive loss | |
Unobservable Inputs | |
Change | | |
Three months ended
March 31, 2024 | | |
Year ended
December 31, 2023 | |
Volatility | |
| 20 | % | |
$ | 354,412 | | |
$ | 291,149 | |
|
v3.24.1.1.u2
SUBSEQUENT EVENT
|
3 Months Ended |
Mar. 31, 2024 |
Notes and other explanatory information [abstract] |
|
SUBSEQUENT EVENT |
21.
SUBSEQUENT
EVENT
May
1, 2024 the Company entered into a securities purchase agreement with a single institutional investor to purchase 13,513,514 units of
the Company, with each unit consisting of one common share (or one prefunded warrant to purchase one common share in lieu thereof) and
one warrant to purchase one common share. Each unit was sold at an offering price of US$ 0.259 for gross proceeds of approximately US$
3.5 million before deducting underwriting discounts and offering expenses.
Pursuant
to a prior underwritten public offering, the Company issued 6,400,000 common share warrants (the “October Warrants”) with
each warrant entitling the holder thereof to purchase one common share of the Company at an exercise price of US$ 0.6123, subject to
adjustment, until October 28, 2028. In connection with the closing of the offering above, the Company and the holder of the October Warrants
have entered into an amendment agreement whereby the exercise price of the October Warrants was reduced and converted to Canadian dollars
for a new exercise price of $ 0.3583 and the cashless exercise provision was removed.
|
X |
- DefinitionThe entire disclosure for events after the reporting period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 10 -IssueDate 2023-01-01 -Section Disclosure -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=10&code=ifrs-tx-2023-en-r&doctype=Standard&dita_xref=IAS10_g17-22_TI -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.1.u2
BASIS OF PREPARATION (Policies)
|
3 Months Ended |
Mar. 31, 2024 |
Basis Of Preparation |
|
Statement of Compliance |
Statement
of Compliance
These
condensed consolidated interim financial statements have been prepared in accordance with International Accounting Standard (“IAS”)
34, “Interim Financial Reporting”. These condensed consolidated interim financial statements include all necessary disclosures
required for interim financial statements but do not include all disclosures required for annual financial statements. These condensed
consolidated interim financial statements should be read in conjunction with the Company’s annual financial statements for the
year ended December 31, 2023.
These
condensed consolidated interim financial statements were authorized for issue by the Board of Directors on May 14, 2024.
|
Basis of consolidation |
Basis
of consolidation
Each
subsidiary is fully consolidated from the date of acquisition, being the date on which the Company obtains control, and continues to
be consolidated until the date when such control ceases.
The
condensed consolidated interim financial statements include the accounts and results of operations of the Company and its wholly owned
subsidiaries listed in the following table:
SCHEDULE OF WHOLLY OWNED SUBSIDIARIES
Name of Subsidiary | |
Place of Incorporation | | |
Ownership Interest | |
Draganfly Innovations Inc. (DII) | |
| Canada | | |
| 100 | % |
Draganfly Innovations USA, Inc. (DI USA) | |
| US | | |
| 100 | % |
Dronelogics Systems Inc. (“Dronelogics”) | |
| Canada | | |
| 100 | % |
All
intercompany balances and transactions were eliminated on consolidation.
|
X |
- References
+ Details
Name: |
DPRO_DisclosureOfBasisOfPreparationAbstract |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe disclosure of the basis used for consolidation.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_10_e&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_DisclosureOfBasisOfConsolidationExplanatory |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAn explicit and unreserved statement of compliance with all the requirements of IFRSs.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 16 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_16&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_StatementOfIFRSCompliance |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.1.u2
BASIS OF PREPARATION (Tables)
|
3 Months Ended |
Mar. 31, 2024 |
Basis Of Preparation |
|
SCHEDULE OF WHOLLY OWNED SUBSIDIARIES |
The
condensed consolidated interim financial statements include the accounts and results of operations of the Company and its wholly owned
subsidiaries listed in the following table:
SCHEDULE OF WHOLLY OWNED SUBSIDIARIES
Name of Subsidiary | |
Place of Incorporation | | |
Ownership Interest | |
Draganfly Innovations Inc. (DII) | |
| Canada | | |
| 100 | % |
Draganfly Innovations USA, Inc. (DI USA) | |
| US | | |
| 100 | % |
Dronelogics Systems Inc. (“Dronelogics”) | |
| Canada | | |
| 100 | % |
|
X |
- References
+ Details
Name: |
DPRO_DisclosureOfBasisOfPreparationAbstract |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe disclosure of subsidiaries. [Refer: Subsidiaries [member]]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 27 -IssueDate 2023-01-01 -Paragraph 17 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=27&code=ifrs-tx-2023-en-r&anchor=para_17_b&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 27 -IssueDate 2023-01-01 -Paragraph 16 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=27&code=ifrs-tx-2023-en-r&anchor=para_16_b&doctype=Standard -URIDate 2023-03-23
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 12 -IssueDate 2023-01-01 -Paragraph B4 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2023-en-r&anchor=para_B4_a&doctype=Appendix&subtype=B -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.1.u2
v3.24.1.1.u2
RECEIVABLES (Tables)
|
3 Months Ended |
Mar. 31, 2024 |
Schedule Of Amounts Receivable |
|
SCHEDULE OF AMOUNTS RECEIVABLE |
SCHEDULE
OF AMOUNTS RECEIVABLE
As at | |
March 31, 2024 | | |
December 31, 2023 | |
Trade accounts receivable | |
$ | 599,050 | | |
$ | 610,443 | |
Sales tax receivable | |
| 47,730 | | |
| 39,169 | |
Trade and other receivables | |
$ | 646,780 | | |
$ | 649,612 | |
Current portion | |
$ | 490,580 | | |
$ | 649,612 | |
Long term portion | |
| 156,200 | | |
| - | |
Trade and other receivables | |
$ | 646,780 | | |
$ | 649,612 | |
|
X |
- References
+ Details
Name: |
DPRO_DisclosureReceivablesAbstract |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe disclosure of trade and other receivables. [Refer: Trade and other receivables]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_10_e&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.1.u2
INVENTORY (Tables)
|
3 Months Ended |
Mar. 31, 2024 |
Notes and other explanatory information [abstract] |
|
SCHEDULE OF INVENTORIES |
SCHEDULE OF INVENTORIES
As at | |
March 31, 2024 | | |
December 31, 2023 | |
Finished goods | |
$ | 1,104,798 | | |
$ | 904,858 | |
Parts | |
| 354,823 | | |
| 691,678 | |
Inventories | |
$ | 1,459,621 | | |
$ | 1,596,536 | |
|
SCHEDULE OF COST OF SALES |
Cost
of sales consist of the following:
SCHEDULE
OF COST OF SALES
For the three months ended | |
March 31, 2024 | | |
March
31, 2023 | |
Inventory | |
$ | 966,339 | | |
$ | 1,012,881 | |
Consulting and services | |
| 22,474 | | |
| 93,654 | |
Other | |
| 60,757 | | |
| 51,517 | |
Cost of sales | |
$ | 1,049,570 | | |
$ | 1,158,052 | |
|
X |
- DefinitionThe disclosure of the cost of sales. [Refer: Cost of sales]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_10_e&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_DisclosureOfCostOfSalesExplanatory |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.1.u2
PREPAIDS AND DEPOSITS (Tables)
|
3 Months Ended |
Mar. 31, 2024 |
Notes and other explanatory information [abstract] |
|
SCHEDULE OF PREPAID EXPENSES AND DEPOSITS |
SCHEDULE
OF PREPAID EXPENSES AND DEPOSITS
As at | |
March 31, 2024 | | |
December 31, 2023 | |
Insurance | |
$ | 490,811 | | |
$ | 838,445 | |
Prepaid other | |
| 180,701 | | |
| 142,124 | |
Deposits | |
| 402,424 | | |
| 361,646 | |
Prepaid expenses and deposits | |
$ | 1,073,936 | | |
$ | 1,342,215 | |
|
X |
- DefinitionDisclosure of prepaid expenses and deposits explanatory.
+ References
+ Details
Name: |
DPRO_DisclosureOfPrepaidExpensesAndDepositsExplanatory |
Namespace Prefix: |
DPRO_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.1.u2
X |
- DefinitionDisclosure of fair value of investment explanatory.
+ References
+ Details
Name: |
DPRO_DisclosureOfFairValueOfInvestmentExplanatory |
Namespace Prefix: |
DPRO_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of investment explanatory.
+ References
+ Details
Name: |
DPRO_DisclosureOfInvestmentExplanatory |
Namespace Prefix: |
DPRO_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
ifrs-full_DisclosureOfInvestmentPropertyAbstract |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.1.u2
EQUIPMENT (Tables)
|
3 Months Ended |
Mar. 31, 2024 |
Notes and other explanatory information [abstract] |
|
SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT |
SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT
| |
Computer Equipment | | |
Furniture and Equipment | | |
Leasehold Improvements | | |
Vehicles | | |
Total | |
Cost | |
| | | |
| | | |
| | | |
| | | |
| | |
Balance at December 31, 2022 | |
$ | 95,662 | | |
$ | 834,453 | | |
$ | - | | |
$ | 36,033 | | |
$ | 966,148 | |
Additions | |
| 58,611 | | |
| 320,941 | | |
| 86,530 | | |
| 24,310 | | |
| 490,394 | |
Disposals | |
| (21,000 | ) | |
| (115,204 | ) | |
| - | | |
| - | | |
| (136,204 | ) |
Balance at December 31, 2023 | |
| 133,273 | | |
| 1,040,192 | | |
| 86,530 | | |
| 60,343 | | |
| 1,320,338 | |
Property, plant and equipment, beginning balance | |
| 133,273 | | |
| 1,040,192 | | |
| 86,530 | | |
| 60,343 | | |
| 1,320,338 | |
Additions | |
| - | | |
| 1,706 | | |
| 2,358 | | |
| - | | |
| 4,064 | |
Disposals | |
| - | | |
| (76,901 | ) | |
| - | | |
| - | | |
| (76,901 | ) |
Balance at March 31, 2024 | |
$ | 133,273 | | |
$ | 964,997 | | |
$ | 88,888 | | |
$ | 60,343 | | |
$ | 1,247,501 | |
Property, plant
and equipment, ending balance | |
$ | 133,273 | | |
$ | 964,997 | | |
$ | 88,888 | | |
$ | 60,343 | | |
$ | 1,247,501 | |
| |
| | | |
| | | |
| | | |
| | | |
| | |
Accumulated depreciation | |
| | | |
| | | |
| | | |
| | | |
| | |
Balance at December 31, 2022 | |
$ | 41,998 | | |
$ | 502,790 | | |
$ | - | | |
$ | 16,669 | | |
$ | 561,457 | |
Charge for the year | |
| 22,762 | | |
| 112,361 | | |
| 6,790 | | |
| 12,497 | | |
| 154,410 | |
Disposals | |
| (6,582 | ) | |
| (69,748 | ) | |
| - | | |
| - | | |
| (76,330 | ) |
Balance at December 31, 2023 | |
| 58,178 | | |
| 545,403 | | |
| 6,790 | | |
| 29,166 | | |
| 639,537 | |
Accumulated depreciation
Property, plant and equipment, beginning balance | |
| 58,178 | | |
| 545,403 | | |
| 6,790 | | |
| 29,166 | | |
| 639,537 | |
Charge for the period | |
| 10,225 | | |
| 37,667 | | |
| 4,431 | | |
| 2,338 | | |
| 54,661 | |
Disposals | |
| - | | |
| (47,062 | ) | |
| - | | |
| - | | |
| (47,062 | ) |
Balance at March 31, 2024 | |
$ | 68,403 | | |
$ | 536,008 | | |
$ | 11,221 | | |
$ | 31,504 | | |
$ | 647,136 | |
Accumulated
depreciation Property, plant and equipment, ending balance | |
$ | 68,403 | | |
$ | 536,008 | | |
$ | 11,221 | | |
$ | 31,504 | | |
$ | 647,136 | |
| |
| | | |
| | | |
| | | |
| | | |
| | |
Net book value: | |
| | | |
| | | |
| | | |
| | | |
| | |
December 31, 2023 | |
$ | 75,095 | | |
$ | 494,789 | | |
$ | 79,740 | | |
$ | 31,177 | | |
$ | 680,801 | |
March 31, 2024 | |
$ | 64,870 | | |
$ | 428,989 | | |
$ | 77,667 | | |
$ | 28,839 | | |
$ | 600,365 | |
Property, plant
and equipment | |
$ | 64,870 | | |
$ | 428,989 | | |
$ | 77,667 | | |
$ | 28,839 | | |
$ | 600,365 | |
|
v3.24.1.1.u2
RIGHT OF USE ASSETS (Tables)
|
3 Months Ended |
Mar. 31, 2024 |
SCHEDULE OF RIGHT OF USE ASSETS |
SCHEDULE
OF RIGHT OF USE ASSETS
| |
Vehicles | | |
Buildings | | |
Land | | |
Total | |
| |
| | | |
| | | |
| | | |
| | |
Balance at December 31, 2022 | |
$ | 2,385 | | |
$ | 342,361 | | |
$ | - | | |
$ | 344,746 | |
Additions | |
| - | | |
| 322,354 | | |
| 418,001 | | |
| 740,355 | |
Depreciation | |
| (2,385 | ) | |
| (149,644 | ) | |
| (211,057 | ) | |
| (363,086 | ) |
Foreign exchange translation | |
| - | | |
| - | | |
| (328 | ) | |
| (328 | ) |
Balance at December 31, 2023 | |
$ | - | | |
$ | 515,071 | | |
$ | 206,616 | | |
$ | 721,687 | |
Right of use assets, Cost, Balance | |
$ | - | | |
$ | 515,071 | | |
$ | 206,616 | | |
$ | 721,687 | |
Depreciation | |
$ | - | | |
$ | (35,681 | ) | |
$ | (52,777 | ) | |
$ | (88,458 | ) |
Foreign exchange translation | |
| - | | |
| - | | |
| 4,919 | | |
| 4,919 | |
Balance at March 31, 2024 | |
$ | - | | |
$ | 479,390 | | |
$ | 158,758 | | |
$ | 638,148 | |
Right of use assets, Cost, Balance | |
$ | - | | |
$ | 479,390 | | |
$ | 158,758 | | |
$ | 638,148 | |
|
v3.24.1.1.u2
LEASE LIABILITIES (Tables)
|
3 Months Ended |
Mar. 31, 2024 |
Notes and other explanatory information [abstract] |
|
SCHEDULE OF OPERATING LEASE LIABILITIES |
SCHEDULE OF OPERATING LEASE LIABILITIES
As at | |
Total | |
Balance at December 31, 2022 | |
$ | 378,643 | |
Interest expense | |
| 96,423 | |
Additions | |
| 734,903 | |
Lease payments | |
| (423,410 | ) |
Foreign exchange translation | |
| 3,464 | |
Balance at December 31, 2023 | |
| 790,023 | |
Interest expense | |
| 20,323 | |
Lease payments | |
| (101,440 | ) |
Foreign exchange translation | |
| (1,064 | ) |
Balance at March 31, 2024 | |
$ | 707,842 | |
Which
consists of:
| |
March 31, 2024 | | |
December 31, 2023 | |
Current lease liability | |
$ | 316,931 | | |
$ | 362,001 | |
Non-current lease liability | |
| 390,911 | | |
| 428,022 | |
Ending balance | |
$ | 707,842 | | |
$ | 790,023 | |
|
SCHEDULE OF OPERATING MATURITY ANALYSIS |
SCHEDULE OF OPERATING MATURITY ANALYSIS
Maturity analysis | |
Total | |
Less than one year | |
$ | 372,356 | |
One to three years | |
| 334,746 | |
Four to five years | |
| 114,937 | |
Total undiscounted lease liabilities | |
| 822,039 | |
Amount representing interest | |
| (114,197 | ) |
Lease liability | |
$ | 707,842 | |
|
X |
- DefinitionThe disclosure of a maturity analysis of operating lease payments. Operating lease is a lease that does not transfer substantially all the risks and rewards incidental to ownership of an underlying asset.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2023-01-01 -Paragraph 97 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2023-en-r&anchor=para_97&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsExplanatory |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.1.u2
TRADE PAYABLES AND ACCRUED LIABILITIES (Tables)
|
3 Months Ended |
Mar. 31, 2024 |
Notes and other explanatory information [abstract] |
|
SCHEDULE OF TRADE PAYABLES AND ACCRUED LIABILITIES |
SCHEDULE OF TRADE PAYABLES AND ACCRUED LIABILITIES
As at | |
March 31, 2024 | | |
December 31, 2023 | |
Trade accounts payable | |
$ | 1,159,489 | | |
$ | 1,259,623 | |
Accrued liabilities | |
| 1,203,738 | | |
| 1,345,649 | |
Government grant payable | |
| 33,709 | | |
| 33,709 | |
Trade payables and accrued liabilities | |
$ | 2,396,936 | | |
$ | 2,638,981 | |
|
X |
- DefinitionDisclosure of trader payables and accrued liabilities explanatory.
+ References
+ Details
Name: |
DPRO_DisclosureOfTraderPayablesAndAccruedLiabilitiesExplanatory |
Namespace Prefix: |
DPRO_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.1.u2
DEFERRED INCOME (Tables)
|
3 Months Ended |
Mar. 31, 2024 |
Schedule Of Deferred Income |
|
SCHEDULE OF DEFERRED INCOME |
SCHEDULE
OF DEFERRED INCOME
As at | |
March 31, 2024 | | |
December 31, 2023 | |
Deferred income from customers | |
$ | 6,287 | | |
$ | 12,112 | |
Deferred income from government | |
| 101,615 | | |
| 95,562 | |
Deferred
income gross | |
$ | 107,902 | | |
$ | 107,674 | |
Current portion | |
$ | 16,439 | | |
$ | 12,112 | |
Long-term portion | |
| 91,463 | | |
| 95,562 | |
Deferred income net | |
$ | 107,902 | | |
$ | 107,674 | |
|
X |
- References
+ Details
Name: |
DPRO_DisclosureOfDeferredIncomeAbstract |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionSchedule of deferred income explanatory.
+ References
+ Details
Name: |
DPRO_ScheduleOfDeferredIncomeExplanatory |
Namespace Prefix: |
DPRO_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.1.u2
LOANS PAYABLE (Tables)
|
3 Months Ended |
Mar. 31, 2024 |
Notes and other explanatory information [abstract] |
|
SCHEDULE OF LOANS PAYABLE |
SCHEDULE
OF LOANS PAYABLE
As at | |
March 31, 2024 | | |
December 31, 2023 | |
Opening balance | |
$ | 85,058 | | |
$ | 86,571 | |
Repayment of loans payable | |
| (81,685 | ) | |
| (6,747 | ) |
Accretion expense | |
| - | | |
| 5,234 | |
Ending balance | |
$ | 3,373 | | |
$ | 85,058 | |
|
SCHEDULE OF LOANS |
SCHEDULE
OF LOANS
| |
Start Date | |
Maturity Date | |
Rate | | |
Carrying Value March 31, 2024 | | |
Carrying Value December 31, 2023 | |
CEBA | |
2020-05-19 | |
2024-03-28 | |
| 0 | % | |
$ | - | | |
$ | 40,000 | |
CEBA | |
2021-04-23 | |
2024-03-28 | |
| 0 | % | |
| - | | |
| 40,000 | |
Vehicle loan | |
2019-08-30 | |
2024-09-11 | |
| 6.99 | % | |
| 3,373 | | |
| 5,058 | |
Total | |
| |
| |
| | | |
$ | 3,373 | | |
$ | 85,058 | |
Total Carrying Value | |
| |
| |
| | | |
$ | 3,373 | | |
$ | 85,058 | |
|
X |
- DefinitionDisclosure of loans payable explanatory.
+ References
+ Details
Name: |
DPRO_DisclosureOfLoansPayableExplanatory |
Namespace Prefix: |
DPRO_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.1.u2
SHARE CAPITAL (Tables)
|
3 Months Ended |
Mar. 31, 2024 |
SCHEDULE OF STOCK OPTIONS OUTSTANDING AND EXERCISABLE |
As
at March 31, 2024, the Company had the following options outstanding and exercisable:
SCHEDULE OF STOCK OPTIONS OUTSTANDING AND EXERCISABLE
Grant Date | |
Expiry Date | |
Exercise Price | | |
Remaining Contractual Life (years) | | |
Number of Options Outstanding | | |
Number of Options Exercisable | |
October 30, 2019 | |
October 30, 2029 | |
$ | 2.50 | | |
| 5.57 | | |
| 278,332 | | |
| 278,332 | |
November 19, 2019 | |
November 19, 2029 | |
$ | 2.50 | | |
| 5.63 | | |
| 50,000 | | |
| 50,000 | |
April 30, 2020 | |
April 30, 2030 | |
$ | 2.50 | | |
| 6.07 | | |
| 85,000 | | |
| 85,000 | |
April 30, 2020 | |
April 30, 2030 | |
$ | 3.85 | | |
| 6.07 | | |
| 110,000 | | |
| 110,000 | |
July 3, 2020 | |
July 3, 2025 | |
$ | 3.20 | | |
| 1.25 | | |
| 100,000 | | |
| 100,000 | |
November 24, 2020 | |
November 24, 2030 | |
$ | 2.50 | | |
| 6.64 | | |
| 32,000 | | |
| 32,000 | |
February 2, 2021 | |
February 2, 2031 | |
$ | 13.20 | | |
| 6.83 | | |
| 30,000 | | |
| 30,000 | |
March 8, 2021 | |
March 8, 2026 | |
$ | 13.90 | | |
| 1.93 | | |
| 10,000 | | |
| 10,000 | |
April 27, 2021 | |
April 27, 2031 | |
$ | 10.15 | | |
| 7.06 | | |
| 137,665 | | |
| 113,994 | |
September 9, 2021 | |
September 9, 2026 | |
$ | 4.84 | | |
| 2.44 | | |
| 25,826 | | |
| 17,217 | |
November 9, 2023 | |
November 9, 2033 | |
$ | 0.626 | | |
| 9.59 | | |
| 30,000 | | |
| 10,000 | |
| |
| |
| | | |
| | | |
| 888,823 | | |
| 836,543 | |
|
SCHEDULE OF STOCK OPTIONS OUTSTANDING |
SCHEDULE
OF STOCK OPTIONS OUTSTANDING
| |
Number of Options | | |
Weighted Average Exercise Price | |
Outstanding, December 31, 2022 | |
| 877,157 | | |
$ | 4.60 | |
Forfeited | |
| (9,999 | ) | |
| 3.77 | |
Issued | |
| 30,000 | | |
| 0.63 | |
Outstanding, December 31, 2023 | |
| 897,158 | | |
$ | 4.48 | |
Forfeited | |
| (8,335 | ) | |
| 10.15 | |
Outstanding, March 31, 2024 | |
| 888,823 | | |
$ | 4.42 | |
|
SUMMARY OF CHANGES IN RESTRICTED STOCK UNITS |
As
at March 31, 2024, the Company had the following RSUs outstanding:
SUMMARY OF CHANGES IN RESTRICTED STOCK UNITS
| |
Number of RSUs | |
Outstanding, December 31, 2022 | |
| 1,198,875 | |
Vested | |
| (1,508,255 | ) |
Issued | |
| 1,685,316 | |
Forfeited | |
| (262,969 | ) |
Outstanding, December 31, 2023 | |
| 1,112,967 | |
Vested | |
| (63,658 | ) |
Forfeited | |
| (36,203 | ) |
Outstanding, March 31, 2024 | |
| 1,013,106 | |
|
SCHEDULE OF WARRANT DERIVATIVE LIABILITY |
Warrant
Derivative Liability
SCHEDULE OF WARRANT DERIVATIVE LIABILITY
Balance at December 31, 2022 | |
$ | - | |
Warrants issued | |
| 3,985,015 | |
Change in fair value of warrants outstanding | |
| 211,110 | |
Balance at December 31, 2023 | |
$ | 4,196,125 | |
Warrants issued | |
| 2,859,509 | |
Warrants exercised | |
| (1,204,491 | ) |
Change in fair value of warrants outstanding | |
| (1,817,569 | ) |
Balance at March 31, 2024 | |
$ | 4,033,574 | |
Derivative liability balance at | |
March 31, 2024 | | |
December 31, 2023 | |
Warrants | |
$ | 4,033,574 | | |
$ | 4,196,125 | |
|
SCHEDULE OF WARRANT AND FAIR VALUE OUTSTANDING |
Details
of these warrants and their fair values are as follows:
SCHEDULE
OF WARRANT AND FAIR VALUE OUTSTANDING
Issue
Date | |
Exercise
Price | | |
Number
of Warrants Outstanding at March 31, 2024 | | |
Fair
Value at March 31, 2024 | | |
Number
of Warrants Outstanding at December 31, 2023(5) | | |
Fair
Value at December 31, 2023 | |
October 30,
2023 (1) | |
US$ | 0.6123 | | |
| 6,400,000 | | |
| 1,130,828 | | |
| 6,400,000 | | |
| 3,180,543 | |
October
30, 2023 (2) | |
US$ | 0.0001 | | |
| - | | |
| - | | |
| 1,600,000 | | |
| 1,015,582 | |
February
26, 2024 (3) | |
US$ | 0.1761 | | |
| 13,400,000 | | |
| 2,902,746 | | |
| - | | |
| - | |
February
26, 2024 (4) | |
US$ | 0.17 | | |
| - | | |
| - | | |
| - | | |
| - | |
| |
| | | |
| 19,800,000 | | |
$ | 4,033,574 | | |
| 8,000,000 | | |
$ | 4,196,125 | |
|
1) | The
warrants expire October 30, 2028. |
|
2) | The
warrants have no expiry date. They were exercised January 5, 2024. |
|
3) | The
warrants expire February 26, 2029. |
|
4) | The
warrants have no expiry date. They were exercised February 26, 2024. |
|
SCHEDULE OF WEIGHTED AVERAGE ASSUMPTION FOR WARRANTS |
The
fair values of these warrants were estimated using the Black-Scholes Option Pricing Model with the following weighted average assumptions:
SCHEDULE OF WEIGHTED AVERAGE ASSUMPTION FOR WARRANTS
| |
March 31, 2024 | | |
December 31, 2023 | |
Risk free interest rate | |
| 4.21 | % | |
| 3.84 | % |
Expected volatility | |
| 119.47 | % | |
| 113.78 | % |
Expected life | |
| 4.6 - 4.91 years | | |
| 4.8 years | |
Expected dividend yield | |
| 0 | % | |
| 0 | % |
|
SUMMARY OF CHANGES IN WARRANTS |
SUMMARY OF CHANGES IN WARRANTS
| |
Number of Warrants | | |
Weighted Average Exercise Price | |
Outstanding, December 31, 2022 | |
| 7,916,797 | | |
$ | 5.08 | |
Issued | |
| 8,320,000 | | |
| 0.50 | |
Expired | |
| (7,661,999 | ) | |
| |
Outstanding, December 31, 2023 | |
| 8,574,798 | | |
$ | 0.63 | |
Issued | |
| 16,270,000 | | |
| 0.22 | |
Exercised | |
| (3,800,000 | ) | |
| 0.0001 | |
Outstanding March 31, 2024 | |
| 21,044,798 | | |
$ | 0.51 | |
|
SCHEDULE OF WARRANTS OUTSTANDING |
As
at March 31, 2024, the Company had the following warrants outstanding:
SCHEDULE OF WARRANTS OUTSTANDING
Date
issued | |
Expiry
date | |
Exercise
price | | |
Number
of warrants outstanding | |
July 29, 2021 | |
July 29, 2024 | |
US$ | 5.00 | | |
| 250,000 | |
September 14, 2021 | |
September 14, 2024 | |
US$ | 5.00 | | |
| 4,798 | |
October 30, 2023 | |
October 30, 2026 | |
US$ | 0.6875 | | |
| 320,000 | |
October 30, 2023 | |
October 30, 2028 | |
US$ | 0.6123 | | |
| 6,400,000 | |
February 26, 2024 | |
February 26, 2027 | |
US$ | 0.3375 | | |
| 670,000 | |
February
26, 2024 | |
February
26, 2029 | |
US$ | 0.1761 | | |
| 13,400,000 | |
| |
| |
| | | |
| 21,044,798 | |
|
X |
- DefinitionDisclosure of change in warrants explanatory.
+ References
+ Details
Name: |
DPRO_DisclosureOfChangeInWarrantsExplanatory |
Namespace Prefix: |
DPRO_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of number and weighted average exercise prices of restricted stock units explanatory.
+ References
+ Details
Name: |
DPRO_DisclosureOfNumberAndWeightedAverageExercisePricesOfRestrictedStockUnitsExplanatory |
Namespace Prefix: |
DPRO_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of number and weighted average exercise prices of warrants and their fair values explanatory.
+ References
+ Details
Name: |
DPRO_DisclosureOfNumberAndWeightedAverageExercisePricesOfWarrantsAndTheirFairValuesExplanatory |
Namespace Prefix: |
DPRO_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of sharebased payment arrangements for warrants outstanding explanatory.
+ References
+ Details
Name: |
DPRO_DisclosureOfSharebasedPaymentArrangementsForWarrantsOutstandingExplanatory |
Namespace Prefix: |
DPRO_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of sharebased payment arrangements options outstanding and exercisable explanatory.
+ References
+ Details
Name: |
DPRO_DisclosureOfSharebasedPaymentArrangementsOptionsOutstandingAndExercisableExplanatory |
Namespace Prefix: |
DPRO_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of warrant derivative liability explanatory.
+ References
+ Details
Name: |
DPRO_DisclosureOfWarrantDerivativeLiabilityExplanatory |
Namespace Prefix: |
DPRO_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe disclosure of the number and weighted average exercise prices of share options. [Refer: Weighted average [member]]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 2 -IssueDate 2023-01-01 -Paragraph 45 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=2&code=ifrs-tx-2023-en-r&anchor=para_45_b&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.1.u2
SEGMENTED INFORMATION (Tables)
|
3 Months Ended |
Mar. 31, 2024 |
Notes and other explanatory information [abstract] |
|
SCHEDULE OF SEGMENTED INFORMATION |
SCHEDULE
OF SEGMENTED INFORMATION
March 31, 2024 | |
Drones | | |
Vital | | |
Corporate | | |
Total | |
Sales of goods | |
$ | 1,237,948 | | |
$ | - | | |
$ | - | | |
$ | 1,237,948 | |
Provision of services | |
| 91,633 | | |
| - | | |
| - | | |
| 91,633 | |
Total revenue | |
| 1,329,581 | | |
| - | | |
| - | | |
| 1,329,581 | |
Segment loss (income) | |
| 1,267,167 | | |
| - | | |
| (1,500,860 | ) | |
| (233,693 | ) |
Finance and other costs | |
| (21,522 | ) | |
| - | | |
| - | | |
| (21,522 | ) |
Depreciation | |
| 139,109 | | |
| - | | |
| 4,013 | | |
| 143,122 | |
Amortization | |
| 2,821 | | |
| - | | |
| - | | |
| 2,821 | |
Change in fair value of derivative liability | |
| - | | |
| - | | |
| 1,817,569 | | |
| 1,817,569 | |
Loss on write-off of notes receivable | |
| - | | |
| - | | |
| 6,751 | | |
| 6,751 | |
Loss on write down of inventory | |
| 148,760 | | |
| - | | |
| - | | |
| 148,760 | |
Net loss for the period | |
$ | 1,536,335 | | |
$ | - | | |
$ | 327,473 | | |
$ | 1,863,808 | |
March 31, 2023 | |
Drones | | |
Vital | | |
Corporate | | |
Total | |
Sales of goods | |
$ | 1,380,816 | | |
$ | - | | |
$ | - | | |
$ | 1,380,816 | |
Provision of services | |
| 220,670 | | |
| - | | |
| - | | |
| 220,670 | |
Total revenue | |
| 1,601,486 | | |
| - | | |
| - | | |
| 1,601,486 | |
Segment loss | |
| 4,545,828 | | |
| 73,817 | | |
| 2,397,614 | | |
| 7,017,259 | |
Segment loss (income) | |
| 4,545,828 | | |
| 73,817 | | |
| 2,397,614 | | |
| 7,017,259 | |
Finance and other costs | |
| (34,304 | ) | |
| - | | |
| (1,557 | ) | |
| (35,861 | ) |
Depreciation | |
| 55,113 | | |
| - | | |
| 2,393 | | |
| 57,506 | |
Amortization | |
| 8,989 | | |
| - | | |
| - | | |
| 8,989 | |
Change in fair value of derivative liability | |
| - | | |
| - | | |
| (57,314 | ) | |
| (57,314 | ) |
Loss on write-off of notes receivable | |
| 77,047 | | |
| - | | |
| - | | |
| 77,047 | |
Net loss for the period | |
$ | 4,652,673 | | |
$ | 73,817 | | |
$ | 2,341,136 | | |
$ | 7,067,626 | |
|
SCHEDULE OF GEOGRAPHIC REVENUE |
SCHEDULE
OF GEOGRAPHIC REVENUE
| |
2024 | | |
2023 | |
Geographic segmentation is as follows: | |
For the three months ended March 31, | |
| |
2024 | | |
2023 | |
Non-current assets | |
| | | |
| | |
Canada | |
$ | 1,467,917 | | |
$ | 1,162,200 | |
United States | |
| 158,758 | | |
| - | |
| |
$ | 1,626,675 | | |
$ | 1,162,200 | |
Revenue | |
| | | |
| | |
Canada | |
$ | 1,327,333 | | |
$ | 1,592,094 | |
United States | |
| 2,248 | | |
| 9,392 | |
Revenue | |
$ | 1,329,581 | | |
$ | 1,601,486 | |
|
X |
- DefinitionThe disclosure of geographical information.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 8 -IssueDate 2023-01-01 -Paragraph 33 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_33&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_DisclosureOfGeographicalAreasExplanatory |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe disclosure of operating segments. [Refer: Operating segments [member]]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 8 -IssueDate 2023-01-01 -Paragraph 23 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_23&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_DisclosureOfOperatingSegmentsExplanatory |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.1.u2
OFFICE AND MISCELLANEOUS (Tables)
|
3 Months Ended |
Mar. 31, 2024 |
Notes and other explanatory information [abstract] |
|
SCHEDULE OF OFFICE AND MISCELLANEOUS EXPENSES |
SCHEDULE OF OFFICE AND MISCELLANEOUS EXPENSES
| |
2024 | | |
2023 | |
| |
For the three months ended March 31, | |
| |
2024 | | |
2023 | |
Advertising, Marketing, and Investor Relations | |
$ | 110,073 | | |
$ | 2,306,452 | |
Compliance fees | |
| 64,031 | | |
| 27,307 | |
Impairment of accounts receivable | |
| - | | |
| 198,513 | |
Contract Work | |
| - | | |
| 47,081 | |
Other | |
| 172,166 | | |
| 221,299 | |
Office and Miscellaneous Expenses | |
$ | 346,270 | | |
$ | 2,800,652 | |
|
X |
- DefinitionDisclosure of Office and Miscellaneous Explanatory.
+ References
+ Details
Name: |
DPRO_DisclosureOfOfficeAndMiscellaneousExplanatory |
Namespace Prefix: |
DPRO_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.1.u2
X |
- DefinitionSchedule of other expenses explanatory
+ References
+ Details
Name: |
DPRO_ScheduleOfOtherExpensesExplanatory |
Namespace Prefix: |
DPRO_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.1.u2
RELATED PARTY TRANSACTIONS (Tables)
|
3 Months Ended |
Mar. 31, 2024 |
Notes and other explanatory information [abstract] |
|
SCHEDULE OF KEY COMPENSATION AWARDS |
Key
management personnel include those persons having authority and responsibility for planning, directing and controlling the activities
of the Company as a whole. Compensation awarded to key management for the three months ended March 31, 2024 and 2023 included:
SCHEDULE OF KEY COMPENSATION AWARDS
| |
2024 | | |
2023 | |
| |
For the three months ended March 31, | |
| |
2024 | | |
2023 | |
Director fees | |
$ | 152,438 | | |
$ | 151,663 | |
Salaries | |
| 142,068 | | |
| 102,115 | |
Share-based payments | |
| 122,112 | | |
| 263,242 | |
Total | |
$ | 416,618 | | |
$ | 517,020 | |
|
SCHEDULE OF KEY MANAGEMENT TRANSACTIONS |
Other
related party transactions
SCHEDULE OF KEY MANAGEMENT TRANSACTIONS
| |
2024 | | |
2023 | |
| |
For the three months ended March 31, | |
| |
2024 | | |
2023 | |
Management fees paid to a company controlled by CEO and director | |
$ | 106,250 | | |
$ | 100,000 | |
Management fees paid to a company that the CEO holds an economic interest in | |
| 60,000 | | |
| 103,629 | |
Management fees paid to a company controlled by the former President and director | |
| 40,433 | | |
| 58,398 | |
Management fees paid to a company, total | |
$ | 206,683 | | |
$ | 262,027 | |
|
v3.24.1.1.u2
FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT (Tables)
|
3 Months Ended |
Mar. 31, 2024 |
SCHEDULE OF FINANCIAL ASSETS MEASURED FAIR VALUE THROUGH PROFIT AND LOSS |
SCHEDULE OF FINANCIAL ASSETS MEASURED FAIR VALUE THROUGH PROFIT AND LOSS
March 31 2024 | |
Level 1 | | |
Level 3 | | |
Total | |
Cash and cash equivalents | |
$ | 4,339,736 | | |
$ | - | | |
$ | 4,339,736 | |
Equity securities in investee companies | |
| 42,857 | | |
| 135,500 | | |
| 178,357 | |
Derivative liability | |
| - | | |
| 4,033,574 | | |
| 4,033,574 | |
Total | |
$ | 4,382,593 | | |
$ | 4,169,074 | | |
$ | 8,551,667 | |
December 31, 2023 | |
Level 1 | | |
Level 3 | | |
Total | |
Cash and cash equivalents | |
$ | 3,093,612 | | |
| - | | |
$ | 3,093,612 | |
Equity securities in investee companies | |
$ | 57,143 | | |
$ | 132,260 | | |
$ | 189,403 | |
Derivative liability | |
| - | | |
| 4,196,125 | | |
| 4,196,125 | |
Total | |
$ | 3,150,755 | | |
$ | 4,328,385 | | |
$ | 7,479,140 | |
|
SCHEDULE OF FAIR VALUE FOR DERIVATIVE LIABILITY |
For
the fair value of the derivative liability, reasonable possible changes to the expected volatility, the most significant unobservable
input would have the following effects:
SCHEDULE OF FAIR VALUE FOR DERIVATIVE LIABILITY
| |
| | |
Impact on comprehensive loss | |
Unobservable Inputs | |
Change | | |
Three months ended
March 31, 2024 | | |
Year ended
December 31, 2023 | |
Volatility | |
| 20 | % | |
$ | 354,412 | | |
$ | 291,149 | |
|
X |
- DefinitionThe disclosure of financial instruments designated at fair value through profit or loss. [Refer: At fair value [member]; Financial instruments, class [member]]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_10_e&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_DisclosureOfFinancialInstrumentsDesignatedAtFairValueThroughProfitOrLossExplanatory |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.1.u2
X |
- References
+ Details
Name: |
DPRO_DisclosureNatureAndContinuanceOfOperationsAbstract |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionA component of equity representing the entity's cumulative undistributed earnings or deficit.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph IG6 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_IG6&doctype=Implementation%20Guidance -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/exampleRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 78 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_78_e&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_RetainedEarnings |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
v3.24.1.1.u2
X |
- References
+ Details
Name: |
DPRO_DisclosureOfBasisOfPreparationLineItems |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe country in which a subsidiary of the entity is incorporated. [Refer: Subsidiaries [member]]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 27 -IssueDate 2023-01-01 -Paragraph 16 -Subparagraph b -Clause ii -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=27&code=ifrs-tx-2023-en-r&anchor=para_16_b_ii&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 27 -IssueDate 2023-01-01 -Paragraph 17 -Subparagraph b -Clause ii -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=27&code=ifrs-tx-2023-en-r&anchor=para_17_b_ii&doctype=Standard -URIDate 2023-03-23
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 12 -IssueDate 2023-01-01 -Paragraph 12 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2023-en-r&anchor=para_12_b&doctype=Standard -URIDate 2023-03-23
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 12 -IssueDate 2023-01-01 -Paragraph 19B -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2023-en-r&anchor=para_19B_b&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe name of a subsidiary. [Refer: Subsidiaries [member]]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 27 -IssueDate 2023-01-01 -Paragraph 17 -Subparagraph b -Clause i -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=27&code=ifrs-tx-2023-en-r&anchor=para_17_b_i&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 27 -IssueDate 2023-01-01 -Paragraph 16 -Subparagraph b -Clause i -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=27&code=ifrs-tx-2023-en-r&anchor=para_16_b_i&doctype=Standard -URIDate 2023-03-23
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 12 -IssueDate 2023-01-01 -Paragraph 12 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2023-en-r&anchor=para_12_a&doctype=Standard -URIDate 2023-03-23
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 12 -IssueDate 2023-01-01 -Paragraph 19B -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2023-en-r&anchor=para_19B_a&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_NameOfSubsidiary |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe proportion of ownership interest in a subsidiary attributable to the entity. [Refer: Subsidiaries [member]]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 27 -IssueDate 2023-01-01 -Paragraph 17 -Subparagraph b -Clause iii -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=27&code=ifrs-tx-2023-en-r&anchor=para_17_b_iii&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 27 -IssueDate 2023-01-01 -Paragraph 16 -Subparagraph b -Clause iii -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=27&code=ifrs-tx-2023-en-r&anchor=para_16_b_iii&doctype=Standard -URIDate 2023-03-23
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 12 -IssueDate 2023-01-01 -Paragraph 19B -Subparagraph c -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2023-en-r&anchor=para_19B_c&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_ProportionOfOwnershipInterestInSubsidiary |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
dtr-types:percentItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- Details
Name: |
dei_LegalEntityAxis=DPRO_DragonflyInnovationsIncMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
dei_LegalEntityAxis=DPRO_DraganflyInnovationsUSAIncMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
dei_LegalEntityAxis=DPRO_DronelogicsSystemsIncMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.24.1.1.u2
X |
- DefinitionThe amount of cash balances held at banks.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 7 -IssueDate 2023-01-01 -Paragraph 45 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2023-en-r&anchor=para_45&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_BalancesWithBanks |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
v3.24.1.1.u2
SCHEDULE OF AMOUNTS RECEIVABLE (Details) - CAD ($)
|
Mar. 31, 2024 |
Dec. 31, 2023 |
Schedule Of Amounts Receivable |
|
|
Trade accounts receivable |
$ 599,050
|
$ 610,443
|
Sales tax receivable |
47,730
|
39,169
|
Trade and other receivables |
646,780
|
649,612
|
Current portion |
490,580
|
649,612
|
Long term portion |
$ 156,200
|
|
X |
- References
+ Details
Name: |
DPRO_DisclosureReceivablesAbstract |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe amount of non-current trade receivables and non-current other receivables. [Refer: Non-current trade receivables; Other non-current receivables]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 54 -Subparagraph h -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_54_h&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 78 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_78_b&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_NoncurrentReceivables |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionThe amount of current trade receivables and current other receivables. [Refer: Current trade receivables; Other current receivables]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 54 -Subparagraph h -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_54_h&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 78 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_78_b&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_TradeAndOtherCurrentReceivables |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionThe amount of trade receivables and other receivables. [Refer: Trade receivables; Other receivables]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 54 -Subparagraph h -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_54_h&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 78 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_78_b&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_TradeAndOtherReceivables |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionThe amount due from customers for goods and services sold.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 78 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_78_b&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_TradeReceivables |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
v3.24.1.1.u2
X |
- References
+ Details
Name: |
DPRO_DisclosureReceivablesAbstract |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionProvision for doubtful account.
+ References
+ Details
Name: |
DPRO_ProvisionForDoubtfulAccount |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
v3.24.1.1.u2
SCHEDULE OF INVENTORIES (Details) - CAD ($)
|
Mar. 31, 2024 |
Dec. 31, 2023 |
Notes and other explanatory information [abstract] |
|
|
Finished goods |
$ 1,104,798
|
$ 904,858
|
Parts |
354,823
|
691,678
|
Inventories |
$ 1,459,621
|
$ 1,596,536
|
X |
- DefinitionA classification of current inventory representing the amount of goods that have completed the production process and are held for sale in the ordinary course of business. [Refer: Inventories]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 2 -IssueDate 2023-01-01 -Paragraph 37 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=2&code=ifrs-tx-2023-en-r&anchor=para_37&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/exampleRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 78 -Subparagraph c -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_78_c&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_FinishedGoods |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionThe amount of current inventories. [Refer: Inventories]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 2 -IssueDate 2023-01-01 -Paragraph 36 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=2&code=ifrs-tx-2023-en-r&anchor=para_36_b&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 54 -Subparagraph g -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_54_g&doctype=Standard -URIDate 2023-03-23
Reference 3: http://www.xbrl.org/2003/role/exampleRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 68 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_68&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_Inventories |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionA classification of current inventory representing the amount of interchangeable parts that are kept in an inventory and are used for the repair or replacement of failed parts. [Refer: Inventories]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 2 -IssueDate 2023-01-01 -Paragraph 37 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=2&code=ifrs-tx-2023-en-r&anchor=para_37&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_SpareParts |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
v3.24.1.1.u2
SCHEDULE OF COST OF SALES (Details) - CAD ($)
|
3 Months Ended |
Mar. 31, 2024 |
Mar. 31, 2023 |
Notes and other explanatory information [abstract] |
|
|
Inventory |
$ 966,339
|
$ 1,012,881
|
Consulting and services |
22,474
|
93,654
|
Other |
60,757
|
51,517
|
Cost of sales |
$ 1,049,570
|
$ 1,158,052
|
X |
- Definition
+ References
+ Details
Name: |
DPRO_ConsultingAndServices |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of inventories recognised as an expense during the period. [Refer: Inventories]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 2 -IssueDate 2023-01-01 -Paragraph 36 -Subparagraph d -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=2&code=ifrs-tx-2023-en-r&anchor=para_36_d&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_CostOfInventoriesRecognisedAsExpenseDuringPeriod |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of all expenses directly or indirectly attributed to the goods or services sold. Attributed expenses include, but are not limited to, costs previously included in the measurement of inventory that has now been sold, such as depreciation and maintenance of factory buildings and equipment used in the production process, unallocated production overheads, and abnormal amounts of production costs of inventories.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 99 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_99&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 103 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_103&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_CostOfSales |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
v3.24.1.1.u2
SCHEDULE OF PREPAID EXPENSES AND DEPOSITS (Details) - CAD ($)
|
Mar. 31, 2024 |
Dec. 31, 2023 |
Notes and other explanatory information [abstract] |
|
|
Insurance |
$ 490,811
|
$ 838,445
|
Prepaid other |
180,701
|
142,124
|
Deposits |
402,424
|
361,646
|
Prepaid expenses and deposits |
$ 1,073,936
|
$ 1,342,215
|
X |
- DefinitionCurrent insurance expenses.
+ References
+ Details
Name: |
DPRO_CurrentInsuranceExpenses |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionThe amount recognised as a current asset for expenditures made prior to the period when the economic benefit will be realised.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 112 -Subparagraph c -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_112_c&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_CurrentPrepaidExpenses |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
v3.24.1.1.u2
INVENTORY (Details Narrative) - CAD ($)
|
3 Months Ended |
Mar. 31, 2024 |
Mar. 31, 2023 |
IfrsStatementLineItems [Line Items] |
|
|
Cost of sales |
$ 1,049,570
|
$ 1,158,052
|
Allowance for obsolete and slow-moving inventory |
148,760
|
77,047
|
Inventory [member] |
|
|
IfrsStatementLineItems [Line Items] |
|
|
Cost of sales |
$ 966,339
|
$ 1,012,881
|
X |
- DefinitionThe amount of all expenses directly or indirectly attributed to the goods or services sold. Attributed expenses include, but are not limited to, costs previously included in the measurement of inventory that has now been sold, such as depreciation and maintenance of factory buildings and equipment used in the production process, unallocated production overheads, and abnormal amounts of production costs of inventories.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 99 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_99&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 103 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_103&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_CostOfSales |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe amount recognised as a reduction in the amount of inventories recognised as an expense due to the reversal of any write-down of inventories resulting from an increase in net realisable value. [Refer: Inventories; Inventory write-down]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 2 -IssueDate 2023-01-01 -Paragraph 36 -Subparagraph f -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=2&code=ifrs-tx-2023-en-r&anchor=para_36_f&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 98 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_98_a&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_ReversalOfInventoryWritedown |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- Details
Name: |
ifrs-full_ProductsAndServicesAxis=DPRO_InventoryMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.24.1.1.u2
X |
- References
+ Details
Name: |
ifrs-full_DisclosureOfInvestmentPropertyAbstract |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe amount of property (land or a building - or part of a building - or both) held (by the owner or by the lessee as a right-of-use asset) to earn rentals or for capital appreciation or both, rather than for: (a) use in the production or supply of goods or services or for administrative purposes; or (b) sale in the ordinary course of business.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 40 -IssueDate 2023-01-01 -Paragraph 76 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=40&code=ifrs-tx-2023-en-r&anchor=para_76&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 40 -IssueDate 2023-01-01 -Paragraph 79 -Subparagraph d -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=40&code=ifrs-tx-2023-en-r&anchor=para_79_d&doctype=Standard -URIDate 2023-03-23
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 54 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_54_b&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_InvestmentProperty |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionThe losses resulting from changes in the fair value of derivatives recognised in profit or loss. [Refer: Derivatives [member]]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 85 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_85&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_LossesOnChangeInFairValueOfDerivatives |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
v3.24.1.1.u2
X |
- DefinitionLine items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.
+ References
+ Details
Name: |
ifrs-full_DisclosureOfInvestmentPropertyLineItems |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe amount of property (land or a building - or part of a building - or both) held (by the owner or by the lessee as a right-of-use asset) to earn rentals or for capital appreciation or both, rather than for: (a) use in the production or supply of goods or services or for administrative purposes; or (b) sale in the ordinary course of business.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 40 -IssueDate 2023-01-01 -Paragraph 76 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=40&code=ifrs-tx-2023-en-r&anchor=para_76&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 40 -IssueDate 2023-01-01 -Paragraph 79 -Subparagraph d -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=40&code=ifrs-tx-2023-en-r&anchor=para_79_d&doctype=Standard -URIDate 2023-03-23
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 54 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_54_b&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_InvestmentProperty |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- Details
Name: |
ifrs-full_TypesOfInvestmentPropertyAxis=DPRO_PublicCompanySharesMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_TypesOfInvestmentPropertyAxis=DPRO_PrivateCompanySharesMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.24.1.1.u2
INVESTMENTS (Details Narrative)
|
3 Months Ended |
Mar. 31, 2024
USD ($)
shares
|
Mar. 31, 2024
CAD ($)
shares
|
Publicly Listed Company [Member] |
|
|
Disclosure of detailed information about investment property [line items] |
|
|
Number of common shares holds | shares |
1,428,571
|
1,428,571
|
Common shares holding value | $ |
|
$ 500,000
|
Private Company [Member] |
|
|
Disclosure of detailed information about investment property [line items] |
|
|
Number of common shares holds | shares |
50,000
|
50,000
|
Common shares holding value | $ |
$ 100,000
|
|
X |
- DefinitionCommon shares holding value.
+ References
+ Details
Name: |
DPRO_CommonSharesHoldingValue |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionNumber of common shares holds.
+ References
+ Details
Name: |
DPRO_NumberOfCommonSharesHolds |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionLine items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.
+ References
+ Details
Name: |
ifrs-full_DisclosureOfInvestmentPropertyLineItems |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- Details
Name: |
ifrs-full_SignificantInvestmentsInSubsidiariesAxis=DPRO_PubliclyListedCompanyMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_SignificantInvestmentsInSubsidiariesAxis=DPRO_PrivateCompanyMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.24.1.1.u2
SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT (Details) - CAD ($)
|
3 Months Ended |
12 Months Ended |
Mar. 31, 2024 |
Dec. 31, 2023 |
IfrsStatementLineItems [Line Items] |
|
|
Property, plant and equipment, beginning balance |
$ 1,320,338
|
$ 966,148
|
Additions |
4,064
|
490,394
|
Disposals |
(76,901)
|
(136,204)
|
Property, plant and equipment, ending balance |
1,247,501
|
1,320,338
|
Accumulated depreciation Property, plant and equipment, beginning balance |
639,537
|
561,457
|
Charge for the period |
54,661
|
154,410
|
Disposals |
(47,062)
|
(76,330)
|
Accumulated depreciation Property, plant and equipment, ending balance |
647,136
|
639,537
|
Property, plant and equipment |
600,365
|
680,801
|
Computer equipment [member] |
|
|
IfrsStatementLineItems [Line Items] |
|
|
Property, plant and equipment, beginning balance |
133,273
|
95,662
|
Additions |
|
58,611
|
Disposals |
|
(21,000)
|
Property, plant and equipment, ending balance |
133,273
|
133,273
|
Accumulated depreciation Property, plant and equipment, beginning balance |
58,178
|
41,998
|
Charge for the period |
10,225
|
22,762
|
Disposals |
|
(6,582)
|
Accumulated depreciation Property, plant and equipment, ending balance |
68,403
|
58,178
|
Property, plant and equipment |
64,870
|
75,095
|
Furniture and equipment [member] |
|
|
IfrsStatementLineItems [Line Items] |
|
|
Property, plant and equipment, beginning balance |
1,040,192
|
834,453
|
Additions |
1,706
|
320,941
|
Disposals |
(76,901)
|
(115,204)
|
Property, plant and equipment, ending balance |
964,997
|
1,040,192
|
Accumulated depreciation Property, plant and equipment, beginning balance |
545,403
|
502,790
|
Charge for the period |
37,667
|
112,361
|
Disposals |
(47,062)
|
(69,748)
|
Accumulated depreciation Property, plant and equipment, ending balance |
536,008
|
545,403
|
Property, plant and equipment |
428,989
|
494,789
|
Leasehold improvements [member] |
|
|
IfrsStatementLineItems [Line Items] |
|
|
Property, plant and equipment, beginning balance |
86,530
|
|
Additions |
2,358
|
86,530
|
Disposals |
|
|
Property, plant and equipment, ending balance |
88,888
|
86,530
|
Accumulated depreciation Property, plant and equipment, beginning balance |
6,790
|
|
Charge for the period |
4,431
|
6,790
|
Disposals |
|
|
Accumulated depreciation Property, plant and equipment, ending balance |
11,221
|
6,790
|
Property, plant and equipment |
77,667
|
79,740
|
Vehicles [member] |
|
|
IfrsStatementLineItems [Line Items] |
|
|
Property, plant and equipment, beginning balance |
60,343
|
36,033
|
Additions |
|
24,310
|
Disposals |
|
|
Property, plant and equipment, ending balance |
60,343
|
60,343
|
Accumulated depreciation Property, plant and equipment, beginning balance |
29,166
|
16,669
|
Charge for the period |
2,338
|
12,497
|
Disposals |
|
|
Accumulated depreciation Property, plant and equipment, ending balance |
31,504
|
29,166
|
Property, plant and equipment |
$ 28,839
|
$ 31,177
|
X |
- DefinitionAccumulated depreciation of disposal of property plant and equipment.
+ References
+ Details
Name: |
DPRO_AccumulateddepreciationOfDisposalOfPropertyPlantAndEquipment |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionAccumulated depreciation property, plant and equipment.
+ References
+ Details
Name: |
DPRO_AccumulateddepreciationPropertyPlantAndEquipment |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionProperty plant and equipment cost.
+ References
+ Details
Name: |
DPRO_PropertyPlantAndEquipmentCost |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionThe amount of additions to property, plant and equipment other than those acquired through business combinations. [Refer: Business combinations [member]; Property, plant and equipment]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 16 -IssueDate 2023-01-01 -Paragraph 73 -Subparagraph e -Clause i -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=16&code=ifrs-tx-2023-en-r&anchor=para_73_e_i&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe decrease in property, plant and equipment resulting from disposals. [Refer: Property, plant and equipment]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 16 -IssueDate 2023-01-01 -Paragraph 73 -Subparagraph e -Clause ii -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=16&code=ifrs-tx-2023-en-r&anchor=para_73_e_ii&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_DisposalsPropertyPlantAndEquipment |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of tangible assets that: (a) are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and (b) are expected to be used during more than one period. Note that right-of-use assets are not included. [Contrast: Property, plant and equipment including right-of-use assets]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 16 -IssueDate 2023-01-01 -Paragraph 73 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=16&code=ifrs-tx-2023-en-r&anchor=para_73_e&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 54 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_54_a&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_PropertyPlantAndEquipment |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionThe amount of income or expense arising from property service charge. [Refer: Property service charge expense; Property service charge income]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 112 -Subparagraph c -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_112_c&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_PropertyServiceChargeIncomeExpense |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- Details
Name: |
ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_ComputerEquipmentMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=DPRO_FurnitureAndEquipmentMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_LeaseholdImprovementsMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_VehiclesMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.24.1.1.u2
SCHEDULE OF RIGHT OF USE ASSETS (Details) - CAD ($)
|
3 Months Ended |
12 Months Ended |
Mar. 31, 2024 |
Dec. 31, 2023 |
IfrsStatementLineItems [Line Items] |
|
|
Right of use assets, Cost, Balance |
$ 721,687
|
$ 344,746
|
Additions |
|
740,355
|
Depreciation |
(88,458)
|
(363,086)
|
Foreign exchange translation |
4,919
|
(328)
|
Right of use assets, Cost, Balance |
638,148
|
721,687
|
Vehicles [member] |
|
|
IfrsStatementLineItems [Line Items] |
|
|
Right of use assets, Cost, Balance |
|
2,385
|
Additions |
|
|
Depreciation |
|
(2,385)
|
Foreign exchange translation |
|
|
Right of use assets, Cost, Balance |
|
|
Buildings [member] |
|
|
IfrsStatementLineItems [Line Items] |
|
|
Right of use assets, Cost, Balance |
515,071
|
342,361
|
Additions |
|
322,354
|
Depreciation |
(35,681)
|
(149,644)
|
Foreign exchange translation |
|
|
Right of use assets, Cost, Balance |
479,390
|
515,071
|
Land [member] |
|
|
IfrsStatementLineItems [Line Items] |
|
|
Right of use assets, Cost, Balance |
206,616
|
|
Additions |
|
418,001
|
Depreciation |
(52,777)
|
(211,057)
|
Foreign exchange translation |
4,919
|
(328)
|
Right of use assets, Cost, Balance |
$ 158,758
|
$ 206,616
|
X |
- DefinitionThe amount of additions to right-of-use assets. [Refer: Right-of-use assets]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2023-01-01 -Paragraph 53 -Subparagraph h -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2023-en-r&anchor=para_53_h&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_AdditionsToRightofuseAssets |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of depreciation of right-of-use assets. [Refer: Depreciation and amortisation expense; Right-of-use assets]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2023-01-01 -Paragraph 53 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2023-en-r&anchor=para_53_a&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_DepreciationRightofuseAssets |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe gains (losses) arising from sale and leaseback transactions.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2023-01-01 -Paragraph 53 -Subparagraph i -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2023-en-r&anchor=para_53_i&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_GainsLossesArisingFromSaleAndLeasebackTransactions |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of right-of-use assets that would have been recognised had the revalued assets been carried under the cost model. [Refer: Right-of-use assets]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2023-01-01 -Paragraph 57 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2023-en-r&anchor=para_57&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_RightofuseAssetsRevaluedAssetsAtCost |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- Details
Name: |
ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_VehiclesMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_BuildingsMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_LandMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.24.1.1.u2
RIGHT OF USE ASSETS (Details Narrative) - CAD ($)
|
3 Months Ended |
12 Months Ended |
Mar. 31, 2024 |
Dec. 31, 2023 |
IfrsStatementLineItems [Line Items] |
|
|
Lease for land amount |
|
$ 740,355
|
Land [member] |
|
|
IfrsStatementLineItems [Line Items] |
|
|
Lease for land amount |
|
418,001
|
Land [member] | Lease One [Member] |
|
|
IfrsStatementLineItems [Line Items] |
|
|
Lease for land amount |
|
$ 418,001
|
[custom:LeaseExpirationDate] |
|
December
31, 2024
|
Buildings [member] |
|
|
IfrsStatementLineItems [Line Items] |
|
|
Lease for land amount |
|
$ 322,354
|
Buildings [member] | Lease Two [Member] |
|
|
IfrsStatementLineItems [Line Items] |
|
|
Lease for land amount |
|
$ 322,354
|
[custom:LeaseExpirationDate] |
|
September
30, 2028
|
Lease one facilities [member] |
|
|
IfrsStatementLineItems [Line Items] |
|
|
[custom:LeaseExpirationDate] |
December
31, 2024
|
|
Lease two facilities [member] |
|
|
IfrsStatementLineItems [Line Items] |
|
|
[custom:LeaseExpirationDate] |
May
31, 2026
|
|
Lease three facilities [member] |
|
|
IfrsStatementLineItems [Line Items] |
|
|
[custom:LeaseExpirationDate] |
January
31, 2027
|
|
Lease four facilities [member] |
|
|
IfrsStatementLineItems [Line Items] |
|
|
[custom:LeaseExpirationDate] |
September
30, 2028
|
|
X |
- DefinitionThe amount of additions to right-of-use assets. [Refer: Right-of-use assets]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2023-01-01 -Paragraph 53 -Subparagraph h -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2023-en-r&anchor=para_53_h&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_AdditionsToRightofuseAssets |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- Details
Name: |
ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_LandMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
DPRO_LeaseAxis=DPRO_LeaseOneMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_BuildingsMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
DPRO_LeaseAxis=DPRO_LeaseTwoMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=DPRO_LeaseOneFacilitiesMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=DPRO_LeaseTwoFacilitiesMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=DPRO_LeaseThreeFacilitiesMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=DPRO_LeaseFourFacilitiesMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.24.1.1.u2
SCHEDULE OF OPERATING LEASE LIABILITIES (Details) - CAD ($)
|
3 Months Ended |
12 Months Ended |
Mar. 31, 2024 |
Dec. 31, 2023 |
Disclosure of quantitative information about leases for lessee [abstract] |
|
|
Balance - Beginning of period |
$ 790,023
|
$ 378,643
|
Interest expense |
20,323
|
96,423
|
Interest expense |
|
734,903
|
Lease Payments |
(101,440)
|
(423,410)
|
Foreign exchange translation |
(1,064)
|
3,464
|
Balance - Ending of period |
707,842
|
790,023
|
Current lease liabilities |
316,931
|
362,001
|
Non-current lease liabilities |
390,911
|
428,022
|
Lease liabilities |
$ 707,842
|
$ 790,023
|
X |
- DefinitionAdditions to lease liabilities.
+ References
+ Details
Name: |
DPRO_AdditionsToLeaseLiabilities |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionForeign exchange translation.
+ References
+ Details
Name: |
DPRO_ForeignExchangeTranslation |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of current lease liabilities. [Refer: Lease liabilities]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2023-01-01 -Paragraph 47 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2023-en-r&anchor=para_47_b&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_CurrentLeaseLiabilities |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionThe amount of interest expense on lease liabilities. [Refer: Lease liabilities]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2023-01-01 -Paragraph 53 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2023-en-r&anchor=para_53_b&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_InterestExpenseOnLeaseLiabilities |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of liabilities related to the entity's leases. Lease is a contract, or part of a contract, that conveys the right to use an underlying asset for a period of time in exchange for consideration.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2023-01-01 -Paragraph 47 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2023-en-r&anchor=para_47_b&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_LeaseLiabilities |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionThe amount of non-current lease liabilities. [Refer: Lease liabilities]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2023-01-01 -Paragraph 47 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2023-en-r&anchor=para_47_b&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_NoncurrentLeaseLiabilities |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionThe cash outflow for payment of lease liabilities, classified as financing activities. [Refer: Lease liabilities]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Name IAS -Number 7 -IssueDate 2023-01-01 -Paragraph 17 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2023-en-r&anchor=para_17_e&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
v3.24.1.1.u2
SCHEDULE OF OPERATING MATURITY ANALYSIS (Details) - CAD ($)
|
Mar. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
Disclosure of quantitative information about right-of-use assets [line items] |
|
|
|
Total undiscounted lease liabilities |
$ 822,039
|
|
|
Amount representing interest |
(114,197)
|
|
|
Lease liability |
707,842
|
$ 790,023
|
$ 378,643
|
Not later than one year [member] |
|
|
|
Disclosure of quantitative information about right-of-use assets [line items] |
|
|
|
Total undiscounted lease liabilities |
372,356
|
|
|
Later than one year and not later than three years [member] |
|
|
|
Disclosure of quantitative information about right-of-use assets [line items] |
|
|
|
Total undiscounted lease liabilities |
334,746
|
|
|
Later than four years and not later than five years [member] |
|
|
|
Disclosure of quantitative information about right-of-use assets [line items] |
|
|
|
Total undiscounted lease liabilities |
$ 114,937
|
|
|
X |
- Definition
+ References
+ Details
Name: |
DPRO_LeaseImplicitInterest |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionThe amount of liabilities related to the entity's leases. Lease is a contract, or part of a contract, that conveys the right to use an underlying asset for a period of time in exchange for consideration.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2023-01-01 -Paragraph 47 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2023-en-r&anchor=para_47_b&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_LeaseLiabilities |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionThe amount of undiscounted operating lease payments to be received. Operating lease is a lease that does not transfer substantially all the risks and rewards incidental to ownership of an underlying asset.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2023-01-01 -Paragraph 97 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2023-en-r&anchor=para_97&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_UndiscountedOperatingLeasePaymentsToBeReceived |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- Details
Name: |
ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanThreeYearsMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.24.1.1.u2
SCHEDULE OF TRADE PAYABLES AND ACCRUED LIABILITIES (Details) - CAD ($)
|
Mar. 31, 2024 |
Dec. 31, 2023 |
Notes and other explanatory information [abstract] |
|
|
Trade accounts payable |
$ 1,159,489
|
$ 1,259,623
|
Accrued liabilities |
1,203,738
|
1,345,649
|
Government grant payable |
33,709
|
33,709
|
Trade payables and accrued liabilities |
$ 2,396,936
|
$ 2,638,981
|
X |
- DefinitionThe amount of assistance by government in the form of transfers of resources to an entity in return for past or future compliance with certain conditions relating to the operating activities of the entity, recognised as deferred income. They exclude those forms of government assistance that cannot reasonably have a value placed upon them and transactions with government that cannot be distinguished from the normal trading transactions of the entity. [Refer: Deferred income other than contract liabilities; Government [member]]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 55 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_55&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_GovernmentGrants |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionThe amount of current liabilities that the entity does not separately disclose in the same statement or note. [Refer: Current liabilities]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 55 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_55&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_OtherCurrentLiabilities |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionThe amount of current trade payables and current other payables. [Refer: Current trade payables; Other current payables]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 54 -Subparagraph k -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_54_k&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_TradeAndOtherCurrentPayables |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionThe current amount of payment due to suppliers for goods and services used in entity's business. [Refer: Current liabilities; Trade payables]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 78 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_78&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/exampleRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 70 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_70&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
v3.24.1.1.u2
X |
- DefinitionDepreciation lease liability.
+ References
+ Details
Name: |
DPRO_DepreciationLeaseLiability |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe weighted average lessee's incremental borrowing rate applied to lease liabilities recognised in the statement of financial position at the date of initial application of IFRS 16. The incremental borrowing rate is the rate of interest that a lessee would have to pay to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of a similar value to the right-of-use asset in a similar economic environment.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2023-01-01 -Paragraph C12 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2023-en-r&anchor=para_C12_a&doctype=Appendix&subtype=C -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16 |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
dtr-types:percentItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- Details
Name: |
ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.24.1.1.u2
SCHEDULE OF DEFERRED INCOME (Details) - CAD ($)
|
Mar. 31, 2024 |
Dec. 31, 2023 |
Schedule Of Deferred Income |
|
|
Deferred income from customers |
$ 6,287
|
$ 12,112
|
Deferred income from government |
101,615
|
95,562
|
Deferred income gross |
107,902
|
107,674
|
Current portion |
16,439
|
12,112
|
Long-term portion |
91,463
|
95,562
|
Deferred income net |
$ 107,902
|
$ 107,674
|
X |
- DefinitionDeferred income from customers.
+ References
+ Details
Name: |
DPRO_DeferredIncomeFromCustomers |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionDeferred income including contract liabilities non current.
+ References
+ Details
Name: |
DPRO_DeferredIncomeIncludingContractLiabilitiesNonCurrent |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
DPRO_DisclosureOfDeferredIncomeAbstract |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe amount of accruals and deferred income, including contract liabilities. [Refer: Accruals; Deferred income including contract liabilities]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 78 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_78&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 55 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_55&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_AccrualsAndDeferredIncomeIncludingContractLiabilities |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionThe amount of current deferred income including current contract liabilities. [Refer: Deferred income including contract liabilities]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 78 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_78&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 55 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_55&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_CurrentDeferredIncomeIncludingCurrentContractLiabilities |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionThe amount of current government grants recognised in the statement of financial position as deferred income. [Refer: Government [member]; Government grants]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 55 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_55&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_CurrentGovernmentGrants |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionThe amount of liabilities representing income that has been received (or the amount is due) but is not yet earned, including contract liabilities. [Refer: Contract liabilities]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 78 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_78&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 55 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_55&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_DeferredIncomeIncludingContractLiabilities |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
v3.24.1.1.u2
X |
- DefinitionDeferred revenue recognition period.
+ References
+ Details
Name: |
DPRO_DeferredRevenueRecognitionPeriod |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:durationItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
DPRO_DisclosureOfDeferredIncomeAbstract |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.1.u2
X |
- DefinitionRepayment of loans payable.
+ References
+ Details
Name: |
DPRO_RepaymentOfLoansPayable |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
v3.24.1.1.u2
SCHEDULE OF LOANS (Details) - CAD ($)
|
3 Months Ended |
|
Mar. 31, 2024 |
Dec. 31, 2023 |
IfrsStatementLineItems [Line Items] |
|
|
Total Carrying Value |
$ 3,373
|
$ 85,058
|
CEBA [member] |
|
|
IfrsStatementLineItems [Line Items] |
|
|
Total Carrying Value |
|
40,000
|
Start Date |
May 19, 2020
|
|
Maturity Date |
Mar. 28, 2024
|
|
Rate |
0.00%
|
|
CEBA loan [member] |
|
|
IfrsStatementLineItems [Line Items] |
|
|
Total Carrying Value |
|
40,000
|
Start Date |
Apr. 23, 2021
|
|
Maturity Date |
Mar. 28, 2024
|
|
Rate |
0.00%
|
|
Vehicle loan [member] |
|
|
IfrsStatementLineItems [Line Items] |
|
|
Total Carrying Value |
$ 3,373
|
$ 5,058
|
Start Date |
Aug. 30, 2019
|
|
Maturity Date |
Sep. 11, 2024
|
|
Rate |
6.99%
|
|
X |
- DefinitionBorrowings maturity start day.
+ References
+ Details
Name: |
DPRO_BorrowingsMaturityStartDay |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe interest rate on borrowings. [Refer: Borrowings]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IFRS -Number 7 -IssueDate 2023-01-01 -Paragraph 7 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2023-en-r&anchor=para_7&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_BorrowingsInterestRate |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
dtr-types:percentItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionThe maturity of borrowings. [Refer: Borrowings]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IFRS -Number 7 -IssueDate 2023-01-01 -Paragraph 7 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2023-en-r&anchor=para_7&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_BorrowingsMaturity |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe amount of loans and advances the entity has made to banks.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 55 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_55&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_LoansAndAdvancesToBanks |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- Details
Name: |
ifrs-full_BorrowingsByNameAxis=DPRO_CanadaEmergencyBusinessAccountMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_BorrowingsByNameAxis=DPRO_CanadaEmergencyBusinessAccountLoanMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_BorrowingsByNameAxis=DPRO_VehicleLoanMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.24.1.1.u2
SCHEDULE OF STOCK OPTIONS OUTSTANDING AND EXERCISABLE (Details)
|
3 Months Ended |
12 Months Ended |
|
Mar. 31, 2024
shares
$ / shares
|
Dec. 31, 2023
shares
|
Dec. 31, 2022
shares
|
IfrsStatementLineItems [Line Items] |
|
|
|
Remaining Contractual Life (years) |
4 years 7 months 28 days
|
4 years 7 months 17 days
|
|
Number of Options Outstanding |
888,823
|
897,158
|
877,157
|
Incentive share compensation plan [member] |
|
|
|
IfrsStatementLineItems [Line Items] |
|
|
|
Number of Options Outstanding |
888,823
|
|
|
Number of Options Exercisable |
836,543
|
|
|
Exercise price one [member] | Incentive share compensation plan [member] |
|
|
|
IfrsStatementLineItems [Line Items] |
|
|
|
Grant Date |
Oct. 30, 2019
|
|
|
Expiry Date |
Oct. 30, 2029
|
|
|
Exercise Price | $ / shares |
$ 2.50
|
|
|
Remaining Contractual Life (years) |
5 years 6 months 25 days
|
|
|
Number of Options Outstanding |
278,332
|
|
|
Number of Options Exercisable |
278,332
|
|
|
Exercise price two [member] | Incentive share compensation plan [member] |
|
|
|
IfrsStatementLineItems [Line Items] |
|
|
|
Grant Date |
Nov. 19, 2019
|
|
|
Expiry Date |
Nov. 19, 2029
|
|
|
Exercise Price | $ / shares |
$ 2.50
|
|
|
Remaining Contractual Life (years) |
5 years 7 months 17 days
|
|
|
Number of Options Outstanding |
50,000
|
|
|
Number of Options Exercisable |
50,000
|
|
|
Exercise price three [member] | Incentive share compensation plan [member] |
|
|
|
IfrsStatementLineItems [Line Items] |
|
|
|
Grant Date |
Apr. 30, 2020
|
|
|
Expiry Date |
Apr. 30, 2030
|
|
|
Exercise Price | $ / shares |
$ 2.50
|
|
|
Remaining Contractual Life (years) |
6 years 25 days
|
|
|
Number of Options Outstanding |
85,000
|
|
|
Number of Options Exercisable |
85,000
|
|
|
Exercise price four [member] | Incentive share compensation plan [member] |
|
|
|
IfrsStatementLineItems [Line Items] |
|
|
|
Grant Date |
Apr. 30, 2020
|
|
|
Expiry Date |
Apr. 30, 2030
|
|
|
Exercise Price | $ / shares |
$ 3.85
|
|
|
Remaining Contractual Life (years) |
6 years 25 days
|
|
|
Number of Options Outstanding |
110,000
|
|
|
Number of Options Exercisable |
110,000
|
|
|
Exercise price five [member] | Incentive share compensation plan [member] |
|
|
|
IfrsStatementLineItems [Line Items] |
|
|
|
Grant Date |
Jul. 03, 2020
|
|
|
Expiry Date |
Jul. 03, 2025
|
|
|
Exercise Price | $ / shares |
$ 3.20
|
|
|
Remaining Contractual Life (years) |
1 year 3 months
|
|
|
Number of Options Outstanding |
100,000
|
|
|
Number of Options Exercisable |
100,000
|
|
|
Exercise price six [member] | Incentive share compensation plan [member] |
|
|
|
IfrsStatementLineItems [Line Items] |
|
|
|
Grant Date |
Nov. 24, 2020
|
|
|
Expiry Date |
Nov. 24, 2030
|
|
|
Exercise Price | $ / shares |
$ 2.50
|
|
|
Remaining Contractual Life (years) |
6 years 7 months 20 days
|
|
|
Number of Options Outstanding |
32,000
|
|
|
Number of Options Exercisable |
32,000
|
|
|
Exercise price seven [member] | Incentive share compensation plan [member] |
|
|
|
IfrsStatementLineItems [Line Items] |
|
|
|
Grant Date |
Feb. 02, 2021
|
|
|
Expiry Date |
Feb. 02, 2031
|
|
|
Exercise Price | $ / shares |
$ 13.20
|
|
|
Remaining Contractual Life (years) |
6 years 9 months 29 days
|
|
|
Number of Options Outstanding |
30,000
|
|
|
Number of Options Exercisable |
30,000
|
|
|
Exercise price eight [member] | Incentive share compensation plan [member] |
|
|
|
IfrsStatementLineItems [Line Items] |
|
|
|
Grant Date |
Mar. 08, 2021
|
|
|
Expiry Date |
Mar. 08, 2026
|
|
|
Exercise Price | $ / shares |
$ 13.90
|
|
|
Remaining Contractual Life (years) |
1 year 11 months 4 days
|
|
|
Number of Options Outstanding |
10,000
|
|
|
Number of Options Exercisable |
10,000
|
|
|
Exercise price nine [member] | Incentive share compensation plan [member] |
|
|
|
IfrsStatementLineItems [Line Items] |
|
|
|
Grant Date |
Apr. 27, 2021
|
|
|
Expiry Date |
Apr. 27, 2031
|
|
|
Exercise Price | $ / shares |
$ 10.15
|
|
|
Remaining Contractual Life (years) |
7 years 21 days
|
|
|
Number of Options Outstanding |
137,665
|
|
|
Number of Options Exercisable |
113,994
|
|
|
Exercise price ten [member] | Incentive share compensation plan [member] |
|
|
|
IfrsStatementLineItems [Line Items] |
|
|
|
Grant Date |
Sep. 09, 2021
|
|
|
Expiry Date |
Sep. 09, 2026
|
|
|
Exercise Price | $ / shares |
$ 4.84
|
|
|
Remaining Contractual Life (years) |
2 years 5 months 8 days
|
|
|
Number of Options Outstanding |
25,826
|
|
|
Number of Options Exercisable |
17,217
|
|
|
Exercise price eleven [member] | Incentive share compensation plan [member] |
|
|
|
IfrsStatementLineItems [Line Items] |
|
|
|
Grant Date |
Nov. 09, 2023
|
|
|
Expiry Date |
Nov. 09, 2033
|
|
|
Exercise Price | $ / shares |
$ 0.626
|
|
|
Remaining Contractual Life (years) |
9 years 7 months 2 days
|
|
|
Number of Options Outstanding |
30,000
|
|
|
Number of Options Exercisable |
10,000
|
|
|
X |
- DefinitionExpiry date for stock options.
+ References
+ Details
Name: |
DPRO_StockOptionsExpiryDate |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:dateItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionStock options grant date.
+ References
+ Details
Name: |
DPRO_StockOptionsGrantDate |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:dateItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe exercise price of outstanding share options.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 2 -IssueDate 2023-01-01 -Paragraph 45 -Subparagraph d -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=2&code=ifrs-tx-2023-en-r&anchor=para_45_d&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_ExercisePriceOfOutstandingShareOptions2019 |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
dtr-types:perShareItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionThe number of share options outstanding in a share-based payment arrangement.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 2 -IssueDate 2023-01-01 -Paragraph 45 -Subparagraph d -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=2&code=ifrs-tx-2023-en-r&anchor=para_45_d&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 2 -IssueDate 2023-01-01 -Paragraph 45 -Subparagraph b -Clause i -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=2&code=ifrs-tx-2023-en-r&anchor=para_45_b_i&doctype=Standard -URIDate 2023-03-23
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 2 -IssueDate 2023-01-01 -Paragraph 45 -Subparagraph b -Clause vi -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=2&code=ifrs-tx-2023-en-r&anchor=para_45_b_vi&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_NumberOfOutstandingShareOptions |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:decimalItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionThe number of share options exercisable in a share-based payment arrangement.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 2 -IssueDate 2023-01-01 -Paragraph 45 -Subparagraph b -Clause vii -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=2&code=ifrs-tx-2023-en-r&anchor=para_45_b_vii&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:decimalItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionThe weighted average remaining contractual life of outstanding share options. [Refer: Weighted average [member]]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 2 -IssueDate 2023-01-01 -Paragraph 45 -Subparagraph d -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=2&code=ifrs-tx-2023-en-r&anchor=para_45_d&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019 |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:durationItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- Details
Name: |
DPRO_PlanNamesAxis=DPRO_IncentiveShareCompensationPlanMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_RangesOfExercisePricesForOutstandingShareOptionsAxis=DPRO_ExercisePriceOneMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_RangesOfExercisePricesForOutstandingShareOptionsAxis=DPRO_ExercisePriceTwoMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_RangesOfExercisePricesForOutstandingShareOptionsAxis=DPRO_ExercisePriceThreeMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_RangesOfExercisePricesForOutstandingShareOptionsAxis=DPRO_ExercisePriceFourMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_RangesOfExercisePricesForOutstandingShareOptionsAxis=DPRO_ExercisePriceFiveMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_RangesOfExercisePricesForOutstandingShareOptionsAxis=DPRO_ExercisePriceSixMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_RangesOfExercisePricesForOutstandingShareOptionsAxis=DPRO_ExercisePriceSevenMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_RangesOfExercisePricesForOutstandingShareOptionsAxis=DPRO_ExercisePriceEightMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_RangesOfExercisePricesForOutstandingShareOptionsAxis=DPRO_ExercisePriceNineMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_RangesOfExercisePricesForOutstandingShareOptionsAxis=DPRO_ExercisePriceTenMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_RangesOfExercisePricesForOutstandingShareOptionsAxis=DPRO_ExercisePriceElevenMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.24.1.1.u2
SCHEDULE OF STOCK OPTIONS OUTSTANDING (Details)
|
3 Months Ended |
12 Months Ended |
Mar. 31, 2024
shares
$ / shares
|
Dec. 31, 2023
shares
$ / shares
|
Number of options outstanding, Beginning Balance | shares |
897,158
|
877,157
|
Weighted average exercise price, Beginning Balance | $ / shares |
$ 4.48
|
$ 4.60
|
Number of options outstanding, Forfeited | shares |
(8,335)
|
(9,999)
|
Weighted average exercise price, Forfeited | $ / shares |
$ 10.15
|
$ 3.77
|
Number of options outstanding, Issued | shares |
|
30,000
|
Weighted average exercise price, Issued | $ / shares |
|
$ 0.63
|
Number of options outstanding, Ending Balance | shares |
888,823
|
897,158
|
Weighted average exercise price, Ending Balance | $ / shares |
$ 4.42
|
$ 4.48
|
X |
- DefinitionNumber of share options issued in share based payment arrangement.
+ References
+ Details
Name: |
DPRO_NumberOfShareOptionsIssuedInSharebasedPaymentArrangement |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:decimalItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe number of share options outstanding in a share-based payment arrangement.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 2 -IssueDate 2023-01-01 -Paragraph 45 -Subparagraph d -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=2&code=ifrs-tx-2023-en-r&anchor=para_45_d&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 2 -IssueDate 2023-01-01 -Paragraph 45 -Subparagraph b -Clause i -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=2&code=ifrs-tx-2023-en-r&anchor=para_45_b_i&doctype=Standard -URIDate 2023-03-23
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 2 -IssueDate 2023-01-01 -Paragraph 45 -Subparagraph b -Clause vi -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=2&code=ifrs-tx-2023-en-r&anchor=para_45_b_vi&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_NumberOfOutstandingShareOptions |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:decimalItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionThe number of share options forfeited in a share-based payment arrangement.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 2 -IssueDate 2023-01-01 -Paragraph 45 -Subparagraph b -Clause iii -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=2&code=ifrs-tx-2023-en-r&anchor=para_45_b_iii&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:decimalItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe weighted average exercise price of share options expired in a share-based payment arrangement. [Refer: Weighted average [member]]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 2 -IssueDate 2023-01-01 -Paragraph 45 -Subparagraph b -Clause v -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=2&code=ifrs-tx-2023-en-r&anchor=para_45_b_v&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement2019 |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
dtr-types:perShareItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe weighted average exercise price of share options forfeited in a share-based payment arrangement. [Refer: Weighted average [member]]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 2 -IssueDate 2023-01-01 -Paragraph 45 -Subparagraph b -Clause iii -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=2&code=ifrs-tx-2023-en-r&anchor=para_45_b_iii&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement2019 |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
dtr-types:perShareItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe weighted average exercise price of share options outstanding in a share-based payment arrangement. [Refer: Weighted average [member]]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 2 -IssueDate 2023-01-01 -Paragraph 45 -Subparagraph b -Clause i -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=2&code=ifrs-tx-2023-en-r&anchor=para_45_b_i&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 2 -IssueDate 2023-01-01 -Paragraph 45 -Subparagraph b -Clause vi -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=2&code=ifrs-tx-2023-en-r&anchor=para_45_b_vi&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019 |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
dtr-types:perShareItemType |
Balance Type: |
na |
Period Type: |
instant |
|
v3.24.1.1.u2
SUMMARY OF CHANGES IN RESTRICTED STOCK UNITS (Details) - shares
|
3 Months Ended |
12 Months Ended |
Mar. 31, 2024 |
Dec. 31, 2023 |
IfrsStatementLineItems [Line Items] |
|
|
Number of RSUs outstanding, Beginning of the period |
8,000,000
|
|
Number of RSUs outstanding, Ending of the period |
19,800,000
|
8,000,000
|
Restricted stock units [member] |
|
|
IfrsStatementLineItems [Line Items] |
|
|
Number of RSUs outstanding, Beginning of the period |
1,112,967
|
1,198,875
|
Number of RSUs, Vested |
(63,658)
|
(1,508,255)
|
Number of RSUs,Issued |
|
1,685,316
|
Number of RSUs, Forfeited |
(36,203)
|
(262,969)
|
Number of RSUs outstanding, Ending of the period |
1,013,106
|
1,112,967
|
X |
- DefinitionNumber of instruments other equity instruments issued.
+ References
+ Details
Name: |
DPRO_NumberOfInstrumentsOtherEquityInstrumentsIssued |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:decimalItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionNumber of instruments other equity instruments vested.
+ References
+ Details
Name: |
DPRO_NumberOfInstrumentsOtherEquityInstrumentsVested |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:decimalItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe number of other equity instruments (ie other than share options) forfeited in a share-based payment arrangement.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IFRS -Number 2 -IssueDate 2023-01-01 -Paragraph 45 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=2&code=ifrs-tx-2023-en-r&anchor=para_45&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_NumberOfOtherEquityInstrumentsForfeitedInSharebasedPaymentArrangement |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:decimalItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe number of other equity instruments (ie other than share options) outstanding in a share-based payment arrangement.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IFRS -Number 2 -IssueDate 2023-01-01 -Paragraph 45 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=2&code=ifrs-tx-2023-en-r&anchor=para_45&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:decimalItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- Details
Name: |
ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=DPRO_RestrictedStockUnitsMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.24.1.1.u2
SCHEDULE OF WARRANT DERIVATIVE LIABILITY (Details) - Warrants [member] - CAD ($)
|
3 Months Ended |
12 Months Ended |
Mar. 31, 2024 |
Dec. 31, 2023 |
IfrsStatementLineItems [Line Items] |
|
|
Beginning of the period |
$ 4,196,125
|
|
Warrants issued |
2,859,509
|
3,985,015
|
Change in fair value of warrants outstanding |
(1,817,569)
|
211,110
|
Warrants exercised |
(1,204,491)
|
|
Ending of the period |
4,033,574
|
4,196,125
|
Derivative liability |
$ 4,033,574
|
$ 4,196,125
|
X |
- DefinitionBusiness acquisition derivative liability.
+ References
+ Details
Name: |
DPRO_BusinessAcquisitionDerivativeLiability |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionChange in fair value of warrant of derivatives outstanding.
+ References
+ Details
Name: |
DPRO_ChangeInFairValueOfWarrantOfDerivativesOutstanding |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionGains losses on change in fair value of derivative.
+ References
+ Details
Name: |
DPRO_GainsLossesOnChangeInFairValueOfDerivative |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionShares issued for exercise of broker warrants of derivatives.
+ References
+ Details
Name: |
DPRO_SharesIssuedForExerciseOfBrokerWarrantsOfDerivatives |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionShares issued for exercise of warrants of derivatives.
+ References
+ Details
Name: |
DPRO_SharesIssuedForExerciseOfWarrantsOfDerivatives |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- Details
Name: |
ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=ifrs-full_WarrantsMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.24.1.1.u2
SCHEDULE OF WARRANT AND FAIR VALUE OUTSTANDING (Details)
|
3 Months Ended |
|
Mar. 31, 2024
USD ($)
shares
$ / shares
|
Dec. 31, 2023
USD ($)
shares
|
IfrsStatementLineItems [Line Items] |
|
|
|
Number of Warrants Outstanding | shares |
|
19,800,000
|
8,000,000
|
Fair Value of warrants | $ |
|
$ 4,033,574
|
$ 4,196,125
|
Range 1 [member] |
|
|
|
IfrsStatementLineItems [Line Items] |
|
|
|
Issue date |
[1] |
Oct. 30, 2023
|
|
Exercise price | $ / shares |
[1] |
$ 0.6123
|
|
Number of Warrants Outstanding | shares |
[1] |
6,400,000
|
6,400,000
|
Fair Value of warrants | $ |
[1] |
$ 1,130,828
|
$ 3,180,543
|
Range 2 [member] |
|
|
|
IfrsStatementLineItems [Line Items] |
|
|
|
Issue date |
[2] |
Oct. 30, 2023
|
|
Exercise price | $ / shares |
[2] |
$ 0.0001
|
|
Number of Warrants Outstanding | shares |
[2] |
|
1,600,000
|
Fair Value of warrants | $ |
[2] |
|
$ 1,015,582
|
Range 3 [member] |
|
|
|
IfrsStatementLineItems [Line Items] |
|
|
|
Issue date |
[3] |
Feb. 26, 2024
|
|
Exercise price | $ / shares |
[3] |
$ 0.1761
|
|
Number of Warrants Outstanding | shares |
[3] |
13,400,000
|
|
Fair Value of warrants | $ |
[3] |
$ 2,902,746
|
|
Range 4 [member] |
|
|
|
IfrsStatementLineItems [Line Items] |
|
|
|
Issue date |
[4] |
Feb. 26, 2024
|
|
Exercise price | $ / shares |
[4] |
$ 0.17
|
|
Number of Warrants Outstanding | shares |
[4] |
|
|
Fair Value of warrants | $ |
[4] |
|
|
|
|
X |
- DefinitionCurrent warrants fair value.
+ References
+ Details
Name: |
DPRO_CurrentWarrantFairValue |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionThe exercise price of outstanding share options.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 2 -IssueDate 2023-01-01 -Paragraph 45 -Subparagraph d -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=2&code=ifrs-tx-2023-en-r&anchor=para_45_d&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_ExercisePriceOfOutstandingShareOptions2019 |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
dtr-types:perShareItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionThe number of other equity instruments (ie other than share options) outstanding in a share-based payment arrangement.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IFRS -Number 2 -IssueDate 2023-01-01 -Paragraph 45 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=2&code=ifrs-tx-2023-en-r&anchor=para_45&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:decimalItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- Details
Name: |
ifrs-full_RangesOfExercisePricesForOutstandingShareOptionsAxis=DPRO_Range1Member |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_RangesOfExercisePricesForOutstandingShareOptionsAxis=DPRO_Range2Member |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_RangesOfExercisePricesForOutstandingShareOptionsAxis=DPRO_Range3Member |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_RangesOfExercisePricesForOutstandingShareOptionsAxis=DPRO_Range4Member |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.24.1.1.u2
X |
- DefinitionExpected life of options.
+ References
+ Details
Name: |
DPRO_ExpectedLifeOfOptions |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:durationItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe expected volatility of the share price used to calculate the fair value of the share options granted. Expected volatility is a measure of the amount by which a price is expected to fluctuate during a period. The measure of volatility used in option pricing models is the annualised standard deviation of the continuously compounded rates of return on the share over a period of time.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 2 -IssueDate 2023-01-01 -Paragraph 47 -Subparagraph a -Clause i -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=2&code=ifrs-tx-2023-en-r&anchor=para_47_a_i&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
dtr-types:percentItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe implied yield currently available on zero-coupon government issues of the country in whose currency the exercise price for share options granted is expressed, with a remaining term equal to the expected term of the option being valued (based on the option's remaining contractual life and taking into account the effects of expected early exercise). [Refer: Government [member]]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 2 -IssueDate 2023-01-01 -Paragraph 47 -Subparagraph a -Clause i -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=2&code=ifrs-tx-2023-en-r&anchor=para_47_a_i&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
dtr-types:percentItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe percentage of an expected dividend used to calculate the fair value of share options granted.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 2 -IssueDate 2023-01-01 -Paragraph 47 -Subparagraph a -Clause i -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=2&code=ifrs-tx-2023-en-r&anchor=para_47_a_i&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
dtr-types:percentItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- Details
Name: |
ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_WarrantsMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.24.1.1.u2
SUMMARY OF CHANGES IN WARRANTS (Details)
|
3 Months Ended |
12 Months Ended |
Mar. 31, 2024
shares
$ / shares
|
Dec. 31, 2023
shares
$ / shares
|
IfrsStatementLineItems [Line Items] |
|
|
Number of RSUs outstanding, Beginning of the period | shares |
8,000,000
|
|
Number of RSUs outstanding, Ending of the period | shares |
19,800,000
|
8,000,000
|
Warrants [member] |
|
|
IfrsStatementLineItems [Line Items] |
|
|
Number of RSUs outstanding, Beginning of the period |
8,574,798
|
7,916,797
|
Weighted Average Exercise Price, Outstanding, Beginning Balance |
$ 0.63
|
$ 5.08
|
Warrants, Issued |
16,270,000
|
8,320,000
|
Weighted Average Exercise Price, Issued |
$ 0.22
|
$ 0.50
|
Warrants, Expired |
(3,800,000)
|
(7,661,999)
|
Weighted Average Exercise Price, Expired |
$ 0.0001
|
$ 5.89
|
Number of RSUs outstanding, Ending of the period |
21,044,798
|
8,574,798
|
Weighted Average Exercise Price, Outstanding, Ending Balance |
$ 0.51
|
$ 0.63
|
X |
- DefinitionThe number of other equity instruments (ie other than share options) granted in a share-based payment arrangement.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IFRS -Number 2 -IssueDate 2023-01-01 -Paragraph 45 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=2&code=ifrs-tx-2023-en-r&anchor=para_45&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 2 -IssueDate 2023-01-01 -Paragraph 47 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=2&code=ifrs-tx-2023-en-r&anchor=para_47_b&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:decimalItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe number of other equity instruments (ie other than share options) forfeited in a share-based payment arrangement.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IFRS -Number 2 -IssueDate 2023-01-01 -Paragraph 45 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=2&code=ifrs-tx-2023-en-r&anchor=para_45&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_NumberOfOtherEquityInstrumentsForfeitedInSharebasedPaymentArrangement |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:decimalItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe number of other equity instruments (ie other than share options) outstanding in a share-based payment arrangement.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IFRS -Number 2 -IssueDate 2023-01-01 -Paragraph 45 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=2&code=ifrs-tx-2023-en-r&anchor=para_45&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:decimalItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionThe weighted average exercise price of other equity instruments (ie other than share options) forfeited in a share-based payment arrangement. [Refer: Weighted average [member]]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IFRS -Number 2 -IssueDate 2023-01-01 -Paragraph 45 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=2&code=ifrs-tx-2023-en-r&anchor=para_45&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsForfeitedInSharebasedPaymentArrangement2019 |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
dtr-types:perShareItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe weighted average exercise price of other equity instruments (ie other than share options) granted in a share-based payment arrangement. [Refer: Weighted average [member]]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IFRS -Number 2 -IssueDate 2023-01-01 -Paragraph 45 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=2&code=ifrs-tx-2023-en-r&anchor=para_45&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsGrantedInSharebasedPaymentArrangement2019 |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
dtr-types:perShareItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe weighted average exercise price of other equity instruments (ie other than share options) outstanding in a share-based payment arrangement. [Refer: Weighted average [member]]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IFRS -Number 2 -IssueDate 2023-01-01 -Paragraph 45 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=2&code=ifrs-tx-2023-en-r&anchor=para_45&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019 |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
dtr-types:perShareItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- Details
Name: |
ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_WarrantsMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.24.1.1.u2
SCHEDULE OF WARRANTS OUTSTANDING (Details)
|
3 Months Ended |
Mar. 31, 2024
$ / shares
shares
|
Warrant one [member] |
|
IfrsStatementLineItems [Line Items] |
|
Date issued |
Jul. 29, 2021
|
Expiry date |
Jul. 29, 2024
|
Exercise price | $ / shares |
$ 5.00
|
Number of warrants outstanding |
250,000
|
Warrant two [member] |
|
IfrsStatementLineItems [Line Items] |
|
Date issued |
Sep. 14, 2021
|
Expiry date |
Sep. 14, 2024
|
Exercise price | $ / shares |
$ 5.00
|
Number of warrants outstanding |
4,798
|
Warrant three [member] |
|
IfrsStatementLineItems [Line Items] |
|
Date issued |
Oct. 30, 2023
|
Expiry date |
Oct. 30, 2026
|
Exercise price | $ / shares |
$ 0.6875
|
Number of warrants outstanding |
320,000
|
Warrant four [member] |
|
IfrsStatementLineItems [Line Items] |
|
Date issued |
Oct. 30, 2023
|
Expiry date |
Oct. 30, 2028
|
Exercise price | $ / shares |
$ 0.6123
|
Number of warrants outstanding |
6,400,000
|
Warrant five [member] |
|
IfrsStatementLineItems [Line Items] |
|
Date issued |
Feb. 26, 2024
|
Expiry date |
Feb. 26, 2027
|
Exercise price | $ / shares |
$ 0.3375
|
Number of warrants outstanding |
670,000
|
Warrant six [member] |
|
IfrsStatementLineItems [Line Items] |
|
Date issued |
Feb. 26, 2024
|
Expiry date |
Feb. 26, 2029
|
Exercise price | $ / shares |
$ 0.1761
|
Number of warrants outstanding |
13,400,000
|
Warrants [member] |
|
IfrsStatementLineItems [Line Items] |
|
Number of warrants outstanding |
21,044,798
|
X |
- DefinitionCompensation warrants, exercise price.
+ References
+ Details
Name: |
DPRO_CompensationWarrantsExercisePrice |
Namespace Prefix: |
DPRO_ |
Data Type: |
dtr-types:perShareItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionCompensation warrants issued date.
+ References
+ Details
Name: |
DPRO_CompensationWarrantsIssuedDate |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:dateItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionCompensation warrants number of warrants.
+ References
+ Details
Name: |
DPRO_CompensationWarrantsNumberOfWarrants |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- Details
Name: |
ifrs-full_ClassesOfShareCapitalAxis=DPRO_WarrantOneMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_ClassesOfShareCapitalAxis=DPRO_WarrantTwoMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_ClassesOfShareCapitalAxis=DPRO_WarrantThreeMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_ClassesOfShareCapitalAxis=DPRO_WarrantFourMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_ClassesOfShareCapitalAxis=DPRO_WarrantFiveMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_ClassesOfShareCapitalAxis=DPRO_WarrantSixMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_WarrantsMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.24.1.1.u2
SHARE CAPITAL (Details Narrative) - CAD ($)
|
3 Months Ended |
9 Months Ended |
12 Months Ended |
Mar. 31, 2024 |
Mar. 31, 2023 |
Dec. 31, 2023 |
Dec. 31, 2023 |
IfrsStatementLineItems [Line Items] |
|
|
|
|
Number of shares issued |
11,200,000
|
|
8,000,000
|
8,000,000
|
[custom:SharesIssuedForFinancingCost] |
$ 4,877,475
|
|
|
$ 10,856,166
|
[custom:IssuedCapitalCost-0] |
752,498
|
|
$ 1,953,032
|
1,953,032
|
Proceeds from issuing shares |
4,274,391
|
|
|
8,903,134
|
Other operating income (expense) |
1,387,114
|
$ 97,073
|
|
|
Value from issuance of shares |
2,017,966
|
10,856,166
|
520,064
|
520,064
|
Shares issued for financing - ATM |
|
|
|
1,748,946
|
Share issue costs |
|
|
|
222,136
|
Proceeds from issue of shares |
|
|
|
1,526,810
|
Share issue related cost |
|
187,697
|
|
|
Derivative liability |
|
|
$ 4,338,931
|
$ 4,338,931
|
Adjustments for share-based payments |
$ 198,907
|
540,563
|
|
|
Weighted average remaining contractual life of outstanding share options |
4 years 7 months 28 days
|
|
|
4 years 7 months 17 days
|
Warrants [member] |
|
|
|
|
IfrsStatementLineItems [Line Items] |
|
|
|
|
Proceeds from issuance of warrants |
$ 2,859,509
|
|
|
$ 3,985,015
|
Proceeds from issuance of pre funded warrants |
431,084
|
|
|
|
Stock options [member] |
|
|
|
|
IfrsStatementLineItems [Line Items] |
|
|
|
|
Adjustments for share-based payments |
26,689
|
103,012
|
|
|
Restricted stock units [member] |
|
|
|
|
IfrsStatementLineItems [Line Items] |
|
|
|
|
Expense from share-based payment transactions with employees |
$ 172,218
|
$ 437,551
|
|
|
Prefunded Warrants [Member] |
|
|
|
|
IfrsStatementLineItems [Line Items] |
|
|
|
|
[custom:NumberOfWarrantsExercised-0] |
2,200.00
|
|
|
|
Warrants [member] |
|
|
|
|
IfrsStatementLineItems [Line Items] |
|
|
|
|
Risk free interest rate |
4.33%
|
|
|
|
Volatility |
119.23%
|
|
|
|
Expected life |
5 years
|
|
|
|
Expected dividend yield rate |
0.00%
|
|
|
|
Broker Warrants [Member] |
|
|
|
|
IfrsStatementLineItems [Line Items] |
|
|
|
|
Risk free interest rate |
4.48%
|
|
|
|
Volatility |
107.80%
|
|
|
|
Expected life |
3 years
|
|
|
|
Expected dividend yield rate |
0.00%
|
|
|
|
Common stock 1 [member] |
|
|
|
|
IfrsStatementLineItems [Line Items] |
|
|
|
|
Number of stock issued for restrcited share units |
63,658
|
|
|
1,508,255
|
Shares isued for exercise of warrants |
3,800,000
|
|
|
|
Number of stock issued for treasury |
900,000
|
|
|
|
Common shares [member] |
|
|
|
|
IfrsStatementLineItems [Line Items] |
|
|
|
|
Number of shares issued |
|
|
4,800,000
|
4,800,000
|
Proceeds from issuing shares |
|
|
|
$ 3,969,372
|
Other operating income (expense) |
$ 441,166
|
|
|
793,979
|
Value from issuance of shares |
|
|
|
$ 4,858,995
|
Shares issued for financing - ATM, shares |
|
|
|
650,729
|
Share issue related cost |
|
|
|
$ 889,623
|
X |
- DefinitionExpected life of options.
+ References
+ Details
Name: |
DPRO_ExpectedLifeOfOptions |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:durationItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionNumber of warrants exercised.
+ References
+ Details
Name: |
DPRO_NumberOfWarrantsExercised |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionShares issued for exercise of prefunded warrants of derivatives.
+ References
+ Details
Name: |
DPRO_SharesIssuedForExerciseOfPrefundedWarrantsOfDerivatives |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionShares issued for exercise of warrants of derivatives.
+ References
+ Details
Name: |
DPRO_SharesIssuedForExerciseOfWarrantsOfDerivatives |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionShares issued for financing.
+ References
+ Details
Name: |
DPRO_SharesIssuedForFinancing |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionShares issued for financing ATM.
+ References
+ Details
Name: |
DPRO_SharesIssuedForFinancingATM |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionShares issued for financing ATM shares.
+ References
+ Details
Name: |
DPRO_SharesIssuedForFinancingATMShares |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionShares issued for financing cost.
+ References
+ Details
Name: |
DPRO_SharesIssuedForFinancingCost |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionNumber of stock issued for exercise of warrants.
+ References
+ Details
Name: |
DPRO_StockIssuedDuringPeriodSharesExerciseOfWarrants |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionNumber of stock issued for restrcited share units.
+ References
+ Details
Name: |
DPRO_StockIssuedDuringPeriodSharesRestrcitedShareUnits |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionStock issued during period shares treasury.
+ References
+ Details
Name: |
DPRO_StockIssuedDuringPeriodSharesTreasury |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAdjustments for share-based payments to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss)]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 7 -IssueDate 2023-01-01 -Paragraph 20 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2023-en-r&anchor=para_20_b&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_AdjustmentsForSharebasedPayments |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of financial liabilities classified as derivative instruments. [Refer: Financial assets; Derivatives [member]]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 55 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_55&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_DerivativeFinancialLiabilities |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionThe expected volatility of the share price used to calculate the fair value of the share options granted. Expected volatility is a measure of the amount by which a price is expected to fluctuate during a period. The measure of volatility used in option pricing models is the annualised standard deviation of the continuously compounded rates of return on the share over a period of time.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 2 -IssueDate 2023-01-01 -Paragraph 47 -Subparagraph a -Clause i -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=2&code=ifrs-tx-2023-en-r&anchor=para_47_a_i&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
dtr-types:percentItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe implied yield currently available on zero-coupon government issues of the country in whose currency the exercise price for share options granted is expressed, with a remaining term equal to the expected term of the option being valued (based on the option's remaining contractual life and taking into account the effects of expected early exercise). [Refer: Government [member]]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 2 -IssueDate 2023-01-01 -Paragraph 47 -Subparagraph a -Clause i -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=2&code=ifrs-tx-2023-en-r&anchor=para_47_a_i&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
dtr-types:percentItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe percentage of an expected dividend used to calculate the fair value of share options granted.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 2 -IssueDate 2023-01-01 -Paragraph 47 -Subparagraph a -Clause i -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=2&code=ifrs-tx-2023-en-r&anchor=para_47_a_i&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
dtr-types:percentItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe amount of expense from share-based payment transactions with employees. [Refer: Expense from share-based payment transactions]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 112 -Subparagraph c -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_112_c&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe number of shares issued by the entity.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 106 -Subparagraph d -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_106_d&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_NumberOfSharesIssued |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionThe amount of operating income (expense) that the entity does not separately disclose in the same statement or note.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 85 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_85&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_OtherOperatingIncomeExpense |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe cash inflow from the issuing of ordinary shares. [Refer: Ordinary shares [member]]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 7 -IssueDate 2023-01-01 -Paragraph 17 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2023-en-r&anchor=para_17&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_ProceedsFromIssueOfOrdinaryShares |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe cash inflow from issuing shares.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Name IAS -Number 7 -IssueDate 2023-01-01 -Paragraph 17 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2023-en-r&anchor=para_17_a&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_ProceedsFromIssuingShares |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe weighted average remaining contractual life of outstanding share options. [Refer: Weighted average [member]]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 2 -IssueDate 2023-01-01 -Paragraph 45 -Subparagraph d -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=2&code=ifrs-tx-2023-en-r&anchor=para_45_d&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019 |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:durationItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- Details
Name: |
ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=ifrs-full_WarrantsMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=DPRO_StockOptionsMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=DPRO_RestrictedStockUnitsMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_TypesOfAntidilutiveInstrumentsAxis=DPRO_PrefundedWarrantsMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_TypesOfAntidilutiveInstrumentsAxis=ifrs-full_WarrantsMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_TypesOfAntidilutiveInstrumentsAxis=DPRO_BrokerWarrantsMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_ComponentsOfEquityAxis=DPRO_CommonStock1Member |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_ComponentsOfEquityAxis=DPRO_CommonSharesMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.24.1.1.u2
SCHEDULE OF SEGMENTED INFORMATION (Details) - CAD ($)
|
3 Months Ended |
9 Months Ended |
Mar. 31, 2024 |
Mar. 31, 2023 |
Dec. 31, 2023 |
IfrsStatementLineItems [Line Items] |
|
|
|
Sales of goods |
$ 1,237,948
|
$ 1,380,816
|
|
Provision of services |
91,633
|
220,670
|
|
Total revenue |
1,329,581
|
1,601,486
|
|
Segment loss (income) |
(233,693)
|
7,017,259
|
|
Finance and other costs |
(21,522)
|
(35,861)
|
|
Depreciation |
143,122
|
57,506
|
|
Amortization |
2,821
|
8,989
|
|
Change in fair value of derivative liability |
1,817,569
|
(57,314)
|
|
Loss on write-off of notes receivable |
6,751
|
77,047
|
|
Loss on write down of inventory |
148,760
|
|
|
Net loss for the period |
1,863,808
|
7,067,626
|
$ 16,544,184
|
Drones [member] |
|
|
|
IfrsStatementLineItems [Line Items] |
|
|
|
Sales of goods |
1,237,948
|
1,380,816
|
|
Provision of services |
91,633
|
220,670
|
|
Total revenue |
1,329,581
|
1,601,486
|
|
Segment loss (income) |
1,267,167
|
4,545,828
|
|
Finance and other costs |
(21,522)
|
(34,304)
|
|
Depreciation |
139,109
|
55,113
|
|
Amortization |
2,821
|
8,989
|
|
Change in fair value of derivative liability |
|
|
|
Loss on write-off of notes receivable |
|
77,047
|
|
Loss on write down of inventory |
148,760
|
|
|
Net loss for the period |
1,536,335
|
4,652,673
|
|
Vital [member] |
|
|
|
IfrsStatementLineItems [Line Items] |
|
|
|
Sales of goods |
|
|
|
Provision of services |
|
|
|
Total revenue |
|
|
|
Segment loss (income) |
|
73,817
|
|
Finance and other costs |
|
|
|
Depreciation |
|
|
|
Amortization |
|
|
|
Change in fair value of derivative liability |
|
|
|
Loss on write-off of notes receivable |
|
|
|
Loss on write down of inventory |
|
|
|
Net loss for the period |
|
73,817
|
|
Corporates [member] |
|
|
|
IfrsStatementLineItems [Line Items] |
|
|
|
Sales of goods |
|
|
|
Provision of services |
|
|
|
Total revenue |
|
|
|
Segment loss (income) |
(1,500,860)
|
2,397,614
|
|
Finance and other costs |
|
(1,557)
|
|
Depreciation |
4,013
|
2,393
|
|
Amortization |
|
|
|
Change in fair value of derivative liability |
1,817,569
|
(57,314)
|
|
Loss on write-off of notes receivable |
6,751
|
|
|
Loss on write down of inventory |
|
|
|
Net loss for the period |
$ 327,473
|
$ 2,341,136
|
|
X |
- DefinitionGain loss on fair value of derivative liabilities.
+ References
+ Details
Name: |
DPRO_GainLossOnFairValueOfDerivativeLiabilities |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionReserve inventory write down.
+ References
+ Details
Name: |
DPRO_ReserveInventoryWriteDown |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionSegment gain income loss.
+ References
+ Details
Name: |
DPRO_SegmentGainIncomeLoss |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionAdjustments for amortisation expense to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss); Depreciation and amortisation expense]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 7 -IssueDate 2023-01-01 -Paragraph 20 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2023-en-r&anchor=para_20&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_AdjustmentsForAmortisationExpense |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionAdjustments for depreciation expense to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss)]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 7 -IssueDate 2023-01-01 -Paragraph 20 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2023-en-r&anchor=para_20&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_AdjustmentsForDepreciationExpense |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of income or cost associated with interest and other financing activities of the entity.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 85 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_85&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_FinanceIncomeCost |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe gains (losses) on loans and receivables. [Refer: Loans and receivables]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Note Expired 2023-01-01 -Name IFRS -Number 7 -IssueDate 2023-01-01 -Paragraph 20 -Subparagraph a -Clause iv -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2017-en-b&anchor=para_20_a_iv&doctype=Standard&book=b -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_GainsLossesOnLoansAndReceivables |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 7 -IssueDate 2023-01-01 -Paragraph 18 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2023-en-r&anchor=para_18_b&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 1 -IssueDate 2023-01-01 -Paragraph 32 -Subparagraph a -Clause ii -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2023-en-r&anchor=para_32_a_ii&doctype=Standard -URIDate 2023-03-23
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 1 -IssueDate 2023-01-01 -Paragraph 24 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2023-en-r&anchor=para_24_b&doctype=Standard -URIDate 2023-03-23
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 8 -IssueDate 2023-01-01 -Paragraph 28 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_28_b&doctype=Standard -URIDate 2023-03-23
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 8 -IssueDate 2023-01-01 -Paragraph 23 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_23&doctype=Standard -URIDate 2023-03-23
Reference 6: http://www.xbrl.org/2003/role/exampleRef -Name IFRS -Number 12 -IssueDate 2023-01-01 -Paragraph B10 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2023-en-r&anchor=para_B10_b&doctype=Appendix&subtype=B -URIDate 2023-03-23
Reference 7: http://www.xbrl.org/2003/role/exampleRef -Name IFRS -Number 17 -IssueDate 2023-01-01 -Paragraph 113 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=17&code=ifrs-tx-2023-en-r&anchor=para_113_b&doctype=Standard -URIDate 2023-03-23
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 81A -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_81A_a&doctype=Standard -URIDate 2023-03-23
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 106 -Subparagraph d -Clause i -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_106_d_i&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_ProfitLoss |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 8 -IssueDate 2023-01-01 -Paragraph 28 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_28_a&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 8 -IssueDate 2023-01-01 -Paragraph 23 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_23_a&doctype=Standard -URIDate 2023-03-23
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 8 -IssueDate 2023-01-01 -Paragraph 32 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_32&doctype=Standard -URIDate 2023-03-23
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 5 -IssueDate 2023-01-01 -Paragraph 33 -Subparagraph b -Clause i -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=5&code=ifrs-tx-2023-en-r&anchor=para_33_b_i&doctype=Standard -URIDate 2023-03-23
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 8 -IssueDate 2023-01-01 -Paragraph 33 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_33_a&doctype=Standard -URIDate 2023-03-23
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 8 -IssueDate 2023-01-01 -Paragraph 34 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_34&doctype=Standard -URIDate 2023-03-23
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 12 -IssueDate 2023-01-01 -Paragraph B12 -Subparagraph b -Clause v -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2023-en-r&anchor=para_B12_b_v&doctype=Appendix&subtype=B -URIDate 2023-03-23
Reference 8: http://www.xbrl.org/2003/role/exampleRef -Name IFRS -Number 12 -IssueDate 2023-01-01 -Paragraph B10 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2023-en-r&anchor=para_B10_b&doctype=Appendix&subtype=B -URIDate 2023-03-23
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 82 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_82_a&doctype=Standard -URIDate 2023-03-23
Reference 10: http://www.xbrl.org/2003/role/exampleRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 103 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_103&doctype=Standard -URIDate 2023-03-23
Reference 11: http://www.xbrl.org/2003/role/exampleRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 102 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_102&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_Revenue |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of revenue arising from the rendering of services. [Refer: Revenue]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 112 -Subparagraph c -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_112_c&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_RevenueFromRenderingOfServices |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of revenue arising from the sale of goods. [Refer: Revenue]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 112 -Subparagraph c -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_112_c&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_RevenueFromSaleOfGoods |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- Details
Name: |
ifrs-full_SegmentsAxis=DPRO_DronesMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_SegmentsAxis=DPRO_VitalMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_SegmentsAxis=DPRO_CorporatesMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.24.1.1.u2
SCHEDULE OF GEOGRAPHIC REVENUE (Details) - CAD ($)
|
3 Months Ended |
Mar. 31, 2024 |
Mar. 31, 2023 |
IfrsStatementLineItems [Line Items] |
|
|
Non-current assets |
$ 1,626,675
|
$ 1,162,200
|
Revenue |
|
|
Revenue |
1,329,581
|
1,601,486
|
CANADA |
|
|
IfrsStatementLineItems [Line Items] |
|
|
Non-current assets |
1,467,917
|
1,162,200
|
Revenue |
|
|
Revenue |
1,327,333
|
1,592,094
|
UNITED STATES |
|
|
IfrsStatementLineItems [Line Items] |
|
|
Non-current assets |
158,758
|
|
Revenue |
|
|
Revenue |
$ 2,248
|
$ 9,392
|
X |
- DefinitionGeographic noncurrent assets.
+ References
+ Details
Name: |
DPRO_GeographicNoncurrentAssets |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionThe income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 8 -IssueDate 2023-01-01 -Paragraph 28 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_28_a&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 8 -IssueDate 2023-01-01 -Paragraph 23 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_23_a&doctype=Standard -URIDate 2023-03-23
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 8 -IssueDate 2023-01-01 -Paragraph 32 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_32&doctype=Standard -URIDate 2023-03-23
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 5 -IssueDate 2023-01-01 -Paragraph 33 -Subparagraph b -Clause i -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=5&code=ifrs-tx-2023-en-r&anchor=para_33_b_i&doctype=Standard -URIDate 2023-03-23
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 8 -IssueDate 2023-01-01 -Paragraph 33 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_33_a&doctype=Standard -URIDate 2023-03-23
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 8 -IssueDate 2023-01-01 -Paragraph 34 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_34&doctype=Standard -URIDate 2023-03-23
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 12 -IssueDate 2023-01-01 -Paragraph B12 -Subparagraph b -Clause v -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2023-en-r&anchor=para_B12_b_v&doctype=Appendix&subtype=B -URIDate 2023-03-23
Reference 8: http://www.xbrl.org/2003/role/exampleRef -Name IFRS -Number 12 -IssueDate 2023-01-01 -Paragraph B10 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2023-en-r&anchor=para_B10_b&doctype=Appendix&subtype=B -URIDate 2023-03-23
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 82 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_82_a&doctype=Standard -URIDate 2023-03-23
Reference 10: http://www.xbrl.org/2003/role/exampleRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 103 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_103&doctype=Standard -URIDate 2023-03-23
Reference 11: http://www.xbrl.org/2003/role/exampleRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 102 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_102&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_Revenue |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
ifrs-full_RevenueAbstract |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- Details
Name: |
ifrs-full_GeographicalAreasAxis=country_CA |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_GeographicalAreasAxis=country_US |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.24.1.1.u2
SCHEDULE OF OFFICE AND MISCELLANEOUS EXPENSES (Details) - CAD ($)
|
3 Months Ended |
Mar. 31, 2024 |
Mar. 31, 2023 |
Notes and other explanatory information [abstract] |
|
|
Advertising, Marketing, and Investor Relations |
$ 110,073
|
$ 2,306,452
|
Compliance fees |
64,031
|
27,307
|
Impairment of accounts receivable |
|
198,513
|
Contract Work |
|
47,081
|
Other |
172,166
|
221,299
|
Office and Miscellaneous Expenses |
$ 346,270
|
$ 2,800,652
|
X |
- DefinitionImpairment of accounts receivable.
+ References
+ Details
Name: |
DPRO_ImpairmentOfAccountsReceivable |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of expense arising from advertising.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 112 -Subparagraph c -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_112_c&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_AdvertisingExpense |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of miscellaneous other operating expenses. [Refer: Other operating income (expense)]
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 112 -Subparagraph c -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_112_c&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_MiscellaneousOtherOperatingExpense |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of expenses that the entity does not separately disclose in the same statement or note when the entity uses the 'function of expense' form for its analysis of expenses.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 26 -IssueDate 2023-01-01 -Paragraph 35 -Subparagraph b -Clause vii -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=26&code=ifrs-tx-2023-en-r&anchor=para_35_b_vii&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/exampleRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 103 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_103&doctype=Standard -URIDate 2023-03-23
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 99 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_99&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_OtherExpenseByFunction |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
v3.24.1.1.u2
SCHEDULE OF OTHER EXPENSES (Details) - CAD ($)
|
3 Months Ended |
Mar. 31, 2024 |
Mar. 31, 2023 |
Notes and other explanatory information [abstract] |
|
|
Share issue costs |
$ 598,529
|
|
Write off of accounts (payable) receivable |
(48,833)
|
|
Other |
2,598,000
|
424,000
|
Total Other expenses |
$ 525,948,000
|
$ 424,000
|
X |
- DefinitionWrite off of accounts payable receivable.
+ References
+ Details
Name: |
DPRO_WriteOffOfAccountsPayableReceivable |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of expenses that the entity does not separately disclose in the same statement or note when the entity uses the 'nature of expense' form for its analysis of expenses. [Refer: Expenses, by nature]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 102 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_102&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 99 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_99&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_OtherExpenseByNature |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
v3.24.1.1.u2
SCHEDULE OF KEY COMPENSATION AWARDS (Details) - CAD ($)
|
3 Months Ended |
Mar. 31, 2024 |
Mar. 31, 2023 |
Notes and other explanatory information [abstract] |
|
|
Director fees |
$ 152,438
|
$ 151,663
|
Salaries |
142,068
|
102,115
|
Share-based payments |
122,112
|
263,242
|
Total |
$ 416,618
|
$ 517,020
|
X |
- DefinitionKey management personnel compensation director fees.
+ References
+ Details
Name: |
DPRO_KeyManagementPersonnelCompensationDirectorFees |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionKey management personnel compensation salaries.
+ References
+ Details
Name: |
DPRO_KeyManagementPersonnelCompensationSalaries |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of compensation to key management personnel. [Refer: Key management personnel of entity or parent [member]]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 24 -IssueDate 2023-01-01 -Paragraph 17 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=24&code=ifrs-tx-2023-en-r&anchor=para_17&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_KeyManagementPersonnelCompensation |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of compensation to key management personnel in the form of share-based payments. [Refer: Key management personnel of entity or parent [member]]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 24 -IssueDate 2023-01-01 -Paragraph 17 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=24&code=ifrs-tx-2023-en-r&anchor=para_17_e&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
v3.24.1.1.u2
SCHEDULE OF KEY MANAGEMENT TRANSACTIONS (Details) - CAD ($)
|
3 Months Ended |
Mar. 31, 2024 |
Mar. 31, 2023 |
IfrsStatementLineItems [Line Items] |
|
|
Management fees paid to a company, total |
$ 416,618
|
$ 517,020
|
CEO and director [member] |
|
|
IfrsStatementLineItems [Line Items] |
|
|
Management fees paid to a company, total |
106,250
|
100,000
|
CEO [member] |
|
|
IfrsStatementLineItems [Line Items] |
|
|
Management fees paid to a company, total |
60,000
|
103,629
|
President and director [member] |
|
|
IfrsStatementLineItems [Line Items] |
|
|
Management fees paid to a company, total |
40,433
|
58,398
|
Other related parties [member] |
|
|
IfrsStatementLineItems [Line Items] |
|
|
Management fees paid to a company, total |
$ 206,683
|
$ 262,027
|
X |
- DefinitionThe amount of compensation to key management personnel. [Refer: Key management personnel of entity or parent [member]]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 24 -IssueDate 2023-01-01 -Paragraph 17 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=24&code=ifrs-tx-2023-en-r&anchor=para_17&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_KeyManagementPersonnelCompensation |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
v3.24.1.1.u2
v3.24.1.1.u2
SCHEDULE OF FINANCIAL ASSETS MEASURED FAIR VALUE THROUGH PROFIT AND LOSS (Details) - CAD ($)
|
Mar. 31, 2024 |
Dec. 31, 2023 |
IfrsStatementLineItems [Line Items] |
|
|
Cash and cash equivalents |
$ 4,339,736
|
$ 3,093,612
|
Equity securities in investee companies |
178,357
|
189,403
|
Derivative liability |
4,033,574
|
4,196,125
|
Total |
8,551,667
|
7,479,140
|
Level 1 of fair value hierarchy [member] |
|
|
IfrsStatementLineItems [Line Items] |
|
|
Cash and cash equivalents |
4,339,736
|
3,093,612
|
Equity securities in investee companies |
42,857
|
57,143
|
Derivative liability |
|
|
Total |
4,382,593
|
3,150,755
|
Level 3 of fair value hierarchy [member] |
|
|
IfrsStatementLineItems [Line Items] |
|
|
Cash and cash equivalents |
|
|
Equity securities in investee companies |
135,500
|
132,260
|
Derivative liability |
4,033,574
|
4,196,125
|
Total |
$ 4,169,074
|
$ 4,328,385
|
X |
- DefinitionCurrent financial assets at fair value through profit or loss of cash and cash equivalents.
+ References
+ Details
Name: |
DPRO_CurrentFinancialAssetsAtFairValueThroughProfitOrLossOfCashAndCashEquivalents |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionCurrent financial assets at fair value through profit or loss of derivative liability.
+ References
+ Details
Name: |
DPRO_CurrentFinancialAssetsAtFairValueThroughProfitOrLossOfDerivativeLiability |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionCurrent financial assets at fair value through profit or loss of equity.
+ References
+ Details
Name: |
DPRO_CurrentFinancialAssetsAtFairValueThroughProfitOrLossOfEquity |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionThe amount of current financial assets measured at fair value through profit or loss. [Refer: Financial assets at fair value through profit or loss]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 7 -IssueDate 2023-01-01 -Paragraph 8 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2023-en-r&anchor=para_8_a&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_CurrentFinancialAssetsAtFairValueThroughProfitOrLoss |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- Details
Name: |
ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level1OfFairValueHierarchyMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.24.1.1.u2
v3.24.1.1.u2
FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT (Details Narrative)
|
Mar. 31, 2024
CAD ($)
|
Current trade receivables |
$ 170,211
|
X |
- DefinitionThe amount of current trade receivables. [Refer: Trade receivables]
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 78 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_78_b&doctype=Standard -URIDate 2023-03-23
Reference 2: http://www.xbrl.org/2003/role/exampleRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 68 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_68&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_CurrentTradeReceivables |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
v3.24.1.1.u2
SUBSEQUENT EVENT (Details Narrative) $ / shares in Units, $ in Millions |
May 01, 2024
USD ($)
$ / shares
shares
|
May 01, 2024
$ / shares
|
Mar. 31, 2024
shares
|
Dec. 31, 2023
shares
|
IfrsStatementLineItems [Line Items] |
|
|
|
|
Number of shares issued | shares |
|
|
11,200,000
|
8,000,000
|
Warrants Transaction [Member] | Securities Purchase Agreement [Member] |
|
|
|
|
IfrsStatementLineItems [Line Items] |
|
|
|
|
Number of shares purchased | shares |
13,513,514
|
|
|
|
Offering price per share for units sold | $ / shares |
$ 0.259
|
|
|
|
Before deducting underwriting discounts and offering expenses | $ |
$ 3.5
|
|
|
|
Number of shares issued | shares |
6,400,000
|
|
|
|
Warrants exercise price per share | $ / shares |
$ 0.6123
|
|
|
|
Warrants Transaction [Member] | Amendment Agreement [Member] |
|
|
|
|
IfrsStatementLineItems [Line Items] |
|
|
|
|
Warrants exercise price per share | $ / shares |
|
$ 0.3583
|
|
|
X |
- DefinitionBefore deducting underwriting discount and offering expenses.
+ References
+ Details
Name: |
DPRO_BeforeDeductingUnderwritingDiscountAndOfferingExpenses |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionNumber of shares purchased.
+ References
+ Details
Name: |
DPRO_NumberOfSharesPurchased |
Namespace Prefix: |
DPRO_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- Definitionoffering price per share for units sold.
+ References
+ Details
Name: |
DPRO_OfferingPricePerShareForUnitsSold |
Namespace Prefix: |
DPRO_ |
Data Type: |
dtr-types:perShareItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionWarrants exercise price per share.
+ References
+ Details
Name: |
DPRO_WarrantsExercisePricePerShare |
Namespace Prefix: |
DPRO_ |
Data Type: |
dtr-types:perShareItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionThe number of shares issued by the entity.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 106 -Subparagraph d -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_106_d&doctype=Standard -URIDate 2023-03-23
+ Details
Name: |
ifrs-full_NumberOfSharesIssued |
Namespace Prefix: |
ifrs-full_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- Details
Name: |
ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=DPRO_WarrantsTransactionMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_TypesOfContractsAxis=DPRO_SecuritiesPurchaseAgreementMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
ifrs-full_TypesOfContractsAxis=DPRO_AmendmentAgreementMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
Draganfly (NASDAQ:DPRO)
Historical Stock Chart
From Jul 2024 to Aug 2024
Draganfly (NASDAQ:DPRO)
Historical Stock Chart
From Aug 2023 to Aug 2024