Loss on Debt Settlement	12 Months Ended
Dec. 31, 2023
Loss on Debt Settlement
Loss on Debt Settlement	6. Loss on Debt Settlement During August of 2023, the Company issued 1,365,413 common shares in order to fully satisfy an outstanding debt obligation to an existing creditor of approximately $314,000. In accordance with ASC 470-50, the transaction was accounted for as debt extinguishment and the difference between the approximately $5,094,000 fair value of the shares (i.e. the “reacquisition price”) and carrying value of the debt on the date of transaction was recognized in our statement of operations as a loss on debt settlement.

Loss on Debt Settlement

12 Months Ended

Dec. 31, 2023

6. Loss on Debt Settlement

During August of 2023, the Company issued 1,365,413 common shares in order to fully satisfy an outstanding debt obligation to an existing creditor of approximately $314,000. In accordance with ASC 470-50, the transaction was accounted for as debt extinguishment and the difference between the approximately $5,094,000 fair value of the shares (i.e. the “reacquisition price”) and carrying value of the debt on the date of transaction was recognized in our statement of operations as a loss on debt settlement.

flooidCX Corp. 10-K