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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"></p>

<!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="border-top: Black 4pt solid; font-size: 1pt; border-bottom: Black 1.5pt solid">&#160;</div></div><!-- Field: /Rule-Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 18pt"><b>UNITED
STATES</b></span></p>

<p style="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 18pt"><b>SECURITIES
AND EXCHANGE COMMISSION</b></span></p>

<p style="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 12pt"><b>Washington,
D.C. 20549</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 18pt"><b>Form
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 28.35pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Mark
One)</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 28.1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 28.1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>OR</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 28.1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</b></span></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 28.35pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 28.35pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 28.1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 28.1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>OR</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 28.1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_90E_edei--DocumentTransitionReport_c20230101__20231231_zuHuI7WgoH68"><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" format="ixt:booleanfalse" id="Fact000021" name="dei:DocumentTransitionReport">&#9744;</ix:nonNumeric></span></b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRANSITION
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  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 28.1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 28.1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>OR</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 28.1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="width: 0.5in">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_90E_edei--DocumentTransitionReport_c20230101__20231231_zxUw1Y0G9f49"><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" format="ixt:booleanfalse" id="Fact000022" name="dei:DocumentTransitionReport">&#9744;</ix:nonNumeric></span></b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRANSITION
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 28.1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 28.1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>OR</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 28.1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>SHELL
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  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 28.35pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 28.35pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date
of event requiring this shell company report</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 28.35pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>For
the transition period from __________________ to __________________</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span style="text-decoration: underline">Commission
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><b>&#160;</b></span></p>

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<!-- Field: Rule-Page --><div style="margin: 0pt auto; width: 40%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page -->

<p style="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Exact
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_902_edei--EntityIncorporationStateCountryCode_c20230101__20231231_zAgenGv3gA66" style="text-transform: uppercase"><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" format="ixt-sec:edgarprovcountryen" id="Fact000026" name="dei:EntityIncorporationStateCountryCode">canada</ix:nonNumeric></span></b></span></p>

<!-- Field: Rule-Page --><div style="margin: 0pt auto; width: 40%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"></p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Jurisdiction
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_905_edei--EntityAddressCountry_c20230101__20231231_zjRwqwh0Ok33"><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" format="ixt-sec:countrynameen" id="Fact000033" name="dei:EntityAddressCountry">Canada</ix:nonNumeric></span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Address
of principal executive offices)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_908_edei--ContactPersonnelName_c20230101__20231231__dei--EntityAddressesAddressTypeAxis__dei--BusinessContactMember_zrkkRwftSWXc"><ix:nonNumeric contextRef="From2023-01-012023-12-31_dei_BusinessContactMember" id="Fact000034" name="dei:ContactPersonnelName">Henry
Bromley, Chief Financial Officer</ix:nonNumeric></span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Tel:
+<span id="xdx_902_edei--CityAreaCode_c20230101__20231231__dei--EntityAddressesAddressTypeAxis__dei--BusinessContactMember_zSp7vwYqluw3"><ix:nonNumeric contextRef="From2023-01-012023-12-31_dei_BusinessContactMember" id="Fact000035" name="dei:CityAreaCode">1 888</ix:nonNumeric></span>-<span id="xdx_900_edei--LocalPhoneNumber_c20230101__20231231__dei--EntityAddressesAddressTypeAxis__dei--BusinessContactMember_zSBqGeIK2EY5"><ix:nonNumeric contextRef="From2023-01-012023-12-31_dei_BusinessContactMember" id="Fact000036" name="dei:LocalPhoneNumber">374-2163</ix:nonNumeric></span>; Facsimile +1 604-694-0301</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_90C_edei--EntityAddressAddressLine1_c20230101__20231231__dei--EntityAddressesAddressTypeAxis__dei--BusinessContactMember_zm1Zr8cdZeH9"><ix:nonNumeric contextRef="From2023-01-012023-12-31_dei_BusinessContactMember" id="Fact000037" name="dei:EntityAddressAddressLine1">Pacific
Centre</ix:nonNumeric></span>, <span id="xdx_90F_edei--EntityAddressAddressLine2_c20230101__20231231__dei--EntityAddressesAddressTypeAxis__dei--BusinessContactMember_zaqN4uQm7kOk"><ix:nonNumeric contextRef="From2023-01-012023-12-31_dei_BusinessContactMember" id="Fact000038" name="dei:EntityAddressAddressLine2">Suite 1500</ix:nonNumeric></span>,<span id="xdx_901_edei--EntityAddressAddressLine3_c20230101__20231231__dei--EntityAddressesAddressTypeAxis__dei--BusinessContactMember_zdMGZQBvXlN8"> <ix:nonNumeric contextRef="From2023-01-012023-12-31_dei_BusinessContactMember" id="Fact000039" name="dei:EntityAddressAddressLine3">701 West Georgia Street</ix:nonNumeric></span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_90B_edei--EntityAddressCityOrTown_c20230101__20231231__dei--EntityAddressesAddressTypeAxis__dei--BusinessContactMember_znUKy32eTxza"><ix:nonNumeric contextRef="From2023-01-012023-12-31_dei_BusinessContactMember" id="Fact000040" name="dei:EntityAddressCityOrTown">Vancouver</ix:nonNumeric></span>,
<span id="xdx_90A_edei--EntityAddressStateOrProvince_c20230101__20231231__dei--EntityAddressesAddressTypeAxis__dei--BusinessContactMember_z4NDML8ZWP92"><ix:nonNumeric contextRef="From2023-01-012023-12-31_dei_BusinessContactMember" format="ixt-sec:stateprovnameen" id="Fact000041" name="dei:EntityAddressStateOrProvince">British Columbia</ix:nonNumeric></span>, <span id="xdx_905_edei--EntityAddressPostalZipCode_c20230101__20231231__dei--EntityAddressesAddressTypeAxis__dei--BusinessContactMember_zy4gW0Jhs20e"><ix:nonNumeric contextRef="From2023-01-012023-12-31_dei_BusinessContactMember" id="Fact000042" name="dei:EntityAddressPostalZipCode">V7Y 1C6</ix:nonNumeric></span></b></span></p>

<p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_907_edei--EntityAddressCountry_c20230101__20231231__dei--EntityAddressesAddressTypeAxis__dei--BusinessContactMember_z6nQtmqbMmbe"><ix:nonNumeric contextRef="From2023-01-012023-12-31_dei_BusinessContactMember" format="ixt-sec:countrynameen" id="Fact000043" name="dei:EntityAddressCountry">Canada</ix:nonNumeric></span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Name,
Telephone, E-mail and/or Facsimile number and Address of Company Contact Person)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Securities
registered under Section 12(b) of the Exchange Act: </b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Title
of Each Class &amp; Name of each exchange on which registered)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Securities
registered under section 12(g) of the Exchange Act: </b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_edei--Security12gTitle_c20230101__20231231_zeu9s0MuBKIe"><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" id="Fact000044" name="dei:Security12gTitle">COMMON
STOCK, NO PAR VALUE PER SHARE</ix:nonNumeric></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Title
of class)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Securities
for which there is a reporting obligation pursuant to Section 15(d) of the Act.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Title
of class)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate
the number of outstanding shares of each of the issuer&#8217;s classes of capital or common stock as of the close of the period covered
by the annual report. &#160;&#160;&#160;&#160;&#160;&#160;&#160;<span id="xdx_908_edei--EntityCommonStockSharesOutstanding_iI_c20231231_zNdYtFXg0kb3"><ix:nonFraction name="dei:EntityCommonStockSharesOutstanding" contextRef="AsOf2023-12-31" id="Fact000045" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">131,304,499</ix:nonFraction></span> common shares no par value.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate
by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes &#9744; <span id="xdx_906_edei--EntityWellKnownSeasonedIssuer_c20230101__20231231_zngHdqf2Oyxi"><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" id="Fact000046" name="dei:EntityWellKnownSeasonedIssuer">No</ix:nonNumeric></span> &#9746;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section
13 or Section 15(d) of the Act. Yes&#8239;&#9744; <span id="xdx_90C_edei--EntityVoluntaryFilers_c20230101__20231231_zlofKqeAd8nk"><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" id="Fact000047" name="dei:EntityVoluntaryFilers">No</ix:nonNumeric></span> &#9746;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate
by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)
has been subject to such filing requirements for the past 90 days. <span id="xdx_901_edei--EntityCurrentReportingStatus_c20230101__20231231_zYXvTSslkeu1"><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" id="Fact000048" name="dei:EntityCurrentReportingStatus">Yes</ix:nonNumeric></span> &#9746; No &#9744;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate
by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule
405 of Regulation S-T (&#167;232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant
was required to submit such files). <span id="xdx_902_edei--EntityInteractiveDataCurrent_c20230101__20231231_z7nGILL0J0Xd"><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" id="Fact000049" name="dei:EntityInteractiveDataCurrent">Yes</ix:nonNumeric></span> &#9746; No &#9744;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate
by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth
company. See definition of &#8220;large accelerated filer, &#8220;accelerated filer,&#8221; and &#8220;emerging growth company&#8221;
in Rule 12b-2 of the Exchange Act.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 27%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Large
    accelerated filer </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 7%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 27%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accelerated
    filer </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 7%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right; width: 27%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_904_edei--EntityFilerCategory_c20230101__20231231_zhOrT2W14fm2"><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" format="ixt-sec:entityfilercategoryen" id="Fact000050" name="dei:EntityFilerCategory">Non-accelerated
    filer</ix:nonNumeric></span></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9746;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Emerging
    growth company</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_908_edei--EntityEmergingGrowthCompany_c20230101__20231231_zFADRFllotGf"><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" format="ixt:booleanfalse" id="Fact000051" name="dei:EntityEmergingGrowthCompany">&#9744;</ix:nonNumeric></span></span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards&#8224; provided
pursuant to Section 13(a) of the Exchange Act.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8224;
The term &#8220;new or revised financial accounting standard&#8221; refers to any update issued by the Financial Accounting Standards
Board to its Accounting Standards Codification after April 5, 2012.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate
by check mark whether the registrant has filed a report on and attestation to its management&#8217;s assessment of the effectiveness
of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b) by the registered
public accounting firm that prepared or issued its audit report.</span>&#8239;<span id="xdx_901_edei--IcfrAuditorAttestationFlag_c20230101__20231231_zdu5NWVoCOJ8"><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" format="ixt:booleanfalse" id="Fact000052" name="dei:IcfrAuditorAttestationFlag">&#9744;</ix:nonNumeric></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant
included in the filing reflect the correction of an error to previously issued financial statements. <span id="xdx_90F_edei--DocumentFinStmtErrorCorrectionFlag_c20230101__20231231_zVCyusn5kB27"><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" format="ixt:booleanfalse" id="Fact000053" name="dei:DocumentFinStmtErrorCorrectionFlag">&#9744;</ix:nonNumeric></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate
by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive- based compensation
received by any of the registrant&#8217;s executive officers during the relevant recovery period pursuant to &#167;240.10D-1(b). &#9744;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate
by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 18%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">
    <span id="xdx_901_edei--DocumentAccountingStandard_c20230101__20231231_zhOITf0Yke7i"><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" id="Fact000054" name="dei:DocumentAccountingStandard">U.S. GAAP</ix:nonNumeric></span></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9746;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 52%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">International
    Financial Reporting Standards as issued by the International Accounting Standards Board </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: center">&#9744;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 15%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
&#8220;Other&#8221; has been checked in response to the previous question, indicate by check mark which financial statement item the
registrant has elected to follow.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;
Item 17 &#9744; Item 18</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange
Act). Yes &#9744; No <span id="xdx_904_edei--EntityShellCompany_dbF_c20230101__20231231_z8jaut3cmsB8"><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" format="ixt:booleanfalse" id="Fact000055" name="dei:EntityShellCompany">&#9746;</ix:nonNumeric></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TABLE
OF CONTENTS</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td colspan="3" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#aj_001">Introduction</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td colspan="3" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#aj_002">Forward-Looking Statements</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td colspan="3" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#aj_003">Summary of Risk Factors</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td colspan="3" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#aj_004">PART I</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.65in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM
    1. </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#aj_005">Identity of Directors, Senior Management and Advisers</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM
    2. </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#aj_006">Offer Statistics and Expected Timetable</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM
    3. </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#aj_007">Key Information</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM
    4. </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#aj_008">Information on the Company</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM
    4A. </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#aj_009">Unresolved Staff Comments</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">12</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM
    5. </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#aj_010">Operating and Financial Review and Prospects</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">12</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM
    6. </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#aj_011">Directors, Senior Management and Employees</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">22</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM
    7. </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#aj_012">Major Shareholders and Related Party Transactions</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">27</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM
    8. </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#aj_013">Financial Information</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">29</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM
    9. </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#aj_014">The Offer and Listing</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">30</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM
    10. </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#aj_015">Additional Information</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">30</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM
    11. </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#aj_016">Quantitative and Qualitative Disclosures about Market Risk</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">34</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM
    12. </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#aj_017">Description of Securities Other than Equity Securities</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">35</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#sw_001">PART II</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">36</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM
    13. </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#sw_002">Defaults, Dividend Arrearages and Delinquencies</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">36</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM
    14. </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#sw_003">Material Modifications to the Rights of Security Holders and Use of Proceeds</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">36</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM
    15. </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#sw_004">Controls and Procedures</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">36</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM
    16A. </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#sw_006">Audit Committee Financial Expert</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">37</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM
    16B. </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#sw_007">Code of Ethics</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">37</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM
    16C. </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#sw_008">Principal Accountant Fees and Services</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">37</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM
    16D. </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#sw_009">Exemptions from the Listing Standards for Audit Committees</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">37</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM
    16E. </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#sw_010">Purchases of Equity Securities by the Company and Affiliated Purchasers</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">37</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM
    16F. </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#sw_011">Change in Registrant&#8217;s Certifying Accountants</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">38</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM
    16G. </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#sw_012">Corporate Governance</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">38</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM
    16H. </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#sw_013">Mine Safety Disclosure</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">39</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM
    16I. </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#sw_014">Disclosure regarding Foreign Jurisdictions that Prevent Inspections</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">39</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif">ITEM
    16J.</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><a href="#i16J">Insider Trading Policies</a></td>
    <td style="font: 10pt Times New Roman, Times, Serif">39</td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif">ITEM
    16K.</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><a href="#i16k">Cybersecurity</a></td>
    <td style="font: 10pt Times New Roman, Times, Serif">39</td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#sw_015">PART III</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">40</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM
    17. </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#sw_016">Financial Statements</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">40</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM18.
    </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#sw_017">Financial Statements</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">40</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM
    19. </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#sw_018">Exhibits</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">40</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#sw_019">Signatures</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">41</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="aj_001"></span>INTRODUCTION</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
annual report on Form 20-F for the year ended December 31, 2023, or this &#8220;annual report,&#8221; should be read in conjunction with
our consolidated financial statements and notes thereto included in this annual report. Unless the context otherwise requires, all references
in this document to &#8220;the Company,&#8221; &#8220;we,&#8221; &#8220;us,&#8221; and &#8220;our&#8221; refer to Kidoz Inc. and our
subsidiaries.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
prepare our consolidated financial statements in accordance with accounting principles generally accepted in the United States of America
(&#8220;US GAAP&#8221;) applicable to annual financial information and with the rules and regulations of the United States Securities
and Exchange Commission.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
used in this annual report, Company means Kidoz Inc. (&#8220;Kidoz&#8221;) and the Company&#8217;s wholly-owned subsidiaries (collectively
the &#8220;Company&#8221;). Information on the Company&#8217;s website www.kidoz.net is not incorporated by reference into this annual
report.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="aj_002"></span>FORWARD-LOOKING
STATEMENTS</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
Form 20-F Annual Report includes &#8220;forward-looking statements&#8221;. A shareholder or prospective shareholder should bear this
in mind when assessing the Company&#8217;s business. All statements included in this annual report, other than statements of historical
facts, including, without limitation, the statements located elsewhere herein regarding industry prospects and the Company&#8217;s financial
position, are forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements
are reasonable, it can give no assurance that such expectations will prove to have been correct.</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
report on Form 20-F contains certain forward-looking information and forward-looking statements, within the meaning of Section 27A of
the Securities Act of 1933, as amended (the &#8220;U.S. Securities Act&#8221;), Section 21E of the Securities Exchange Act of 1934, as
amended (the &#8220;Exchange Act&#8221;) and &#8220;forward-looking information&#8221; under Canadian securities laws (collectively referred
to herein as &#8220;forward-looking statements&#8221;). All documents incorporated herein by reference, as well as statements made in
press releases and oral statements that may be made by us or by officers, directors or employees acting on our behalf, that are not statements
of historical fact constitute &#8220;forward-looking statements&#8221; within the meaning of the Private Securities Litigation Reform
Act of 1995. These forward-looking statements relate to future events or the Company&#8217;s future performance. Such forward-looking
statements involve known and unknown risks, uncertainties and other factors that could cause our actual results to be materially different
from historical results or from any future results expressed or implied by such forward-looking statements. Readers should consider statements
that include the terms &#8220;believe,&#8221; &#8220;belief,&#8221; &#8220;expect,&#8221; &#8220;plan,&#8221; &#8220;anticipate,&#8221;
&#8220;intend&#8221; or the like to be uncertain and forward-looking. In addition, all statements, trends, analyses and other information
contained in this report relative to trends in net sales, gross margin, anticipated expense levels and liquidity and capital resources,
constitute forward-looking statements. Particular attention should be paid to the facts of our limited operating history, the unpredictability
of our future revenues, our need for and the availability of capital resources, the evolving nature of our business model, and the risks
associated with systems development, management of growth and business expansion. Except as required by law, we undertake no obligation
to update any forward-looking statement, whether as a result of new information, future events or otherwise. All cautionary statements
made herein should be read as being applicable to all forward-looking statements wherever they appear. The forward-looking statements
contained in this Form 20-F are based on our current expectations and beliefs concerning future developments and their potential effects
on us taking into account information currently available to us. These forward-looking statements are subject to risks, uncertainties
and other factors, some of which are beyond our control, which could cause actual results to differ materially from this forecast or
anticipated in such forward-looking statements.</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="aj_003"></span>SUMMARY
OF RISK FACTORS</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
business is subject to numerous risks and uncertainties, including those described in Item 3.D &#8220;Risk Factors.&#8221; You should
carefully consider these risks and uncertainties when investing in our ordinary shares. Principal risks and uncertainties affecting our
business include the following:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Future
    operating or financial results;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fluctuations
    in currencies and interest rates;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">General
    market conditions;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Regulations
    especially with regards to highly regulated market with a Children&#8217;s Online Privacy Protection Rule (&#8220;COPPA&#8221;) &amp;
    General Data Protection Regulation (&#8220;GDPR&#8221;);</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reliance
    on Apple and Google;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Expanding
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reliance
    on key customers and suppliers;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Retaining
    and attracting customers;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">No
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reliance
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    partners;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dependency
    on key management and personnel; </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Children&#8217;s
    advertising;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Market
    conditions;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inappropriate
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cybersecurity;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Technology;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Outages;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    risks;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
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    in GAAP;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="aj_004"></span>PART
1</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="aj_005"></span>ITEM 1. </b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS</b></span></p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
applicable to Form 20-F filed as annual report.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="aj_006"></span>ITEM 2. </b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>OFFER STATISTICS AND EXPECTED TIMETABLE</b></span></p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
applicable to Form 20-F filed as annual report.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="aj_007"></span>ITEM 3. </b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>KEY INFORMATION</b></span></p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>A.
Selected Financial Data</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table presents selected historical financial data which has been derived in part from our audited consolidated financial statements
included elsewhere in this annual report and should be read together with and qualified in its entirety by reference to such audited
consolidated financial statements. The following table should be read together with &#8220;Item 5&#8212;Operating and Financial Review
and Prospects.&#8221;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Consolidated
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%; margin-left: 0.5in">
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: White">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Consolidated
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%; margin-left: 0.5in">
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>


<!-- Field: Page; Sequence: 5 -->
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Consolidated
Cash flow data:</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 95%; margin-left: 0.3in">
  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(61,952</td><td style="text-align: left">)</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(895,306</td><td style="text-align: left">)</td><td>&#160;</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>B.
Capitalization and Indebtedness</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
Applicable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>C.
Reasons for the Offer and Use of Proceeds</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
Applicable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>D.
Risk Factors</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company&#8217;s business is subject to numerous risks and uncertainties, including those described elsewhere in this MD&amp;A, as well
as general economic and market risks. The following discussion describes material risks and uncertainties that the Company has identified
that may affect the Company&#8217;s results of operations and financial condition.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Risks
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Based
upon the factors above and others beyond the Company&#8217;s control, Kidoz forecasts future revenue, costs, and expenses, and continually
reviews these forecasts. As a result, its operating results may, from time to time, fall below estimates or the expectations of securities
analysts and investors.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    financial, technical, and other resources. The Company must expand its sales, marketing, technology, and operational staff and expand
    its controls. If Kidoz continues its rapid growth, it will incur additional expenses, and its growth may continue to place a strain
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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    of operations. The Company relies on its engineering staff to develop its technology; operations staff to manage and operate the
    campaigns and its sales teams to attract and retain key customers. The inability to hire, or the increased costs of new personnel,
    or the cost to maintain existing personnel could have a material adverse effect on the Company&#8217;s business and operating results.
    There is intense competition for capable personnel in all of these areas, and the Company may not be successful in attracting, training,
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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    inadvertent transmission of computer viruses could adversely affect the business, financial condition, results of operations or reputation
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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    advertising</span> &#8211; The Company is developing a teens and family platform under its Prado brand. Therefore, there is the risk
    that an inappropriate advertisement is served to children, which could result in fines to the Company and have a negative effect
    on its business, operating results, and financial condition. The Company has put in internal controls that ensure no non children
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Financial
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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    financing</span> - There can be no certainty that the Company&#8217;s financial resources and revenue from sales will be sufficient
    for its future needs. The Company may need to incur significant expenses for growth, operations, research, and development, as well
    as sales and marketing and other unforeseen costs. The ability of the Company to arrange such financing in the future will depend
    in part upon the prevailing capital market conditions as well as the business performance of the Company. It may be difficult or
    impossible for the Company to obtain debt financing or equity financing on commercially acceptable terms. In addition, the issuance
    of common shares for an equity financing may have a negative effect on the existing shareholders of the Company such as dilution
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    (a) expand and develop product offerings; (b) improve technological infrastructure, including investing in its technology (c) cover
    general and administrative expenses, including legal, accounting, and other expenses; (d) cover sales and marketing expenses, including
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    returns. Consequently, as costs increase, the Company may not be able to generate sufficient revenue to achieve or sustain profitability.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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    risks</span> &#8211; If our customers do not pay, or dispute their invoices, then the business, operating results and financial condition
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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    financial performance, its ability to raise capital and its continued listing on the TSX Venture Exchange. In addition, the Company
    is a small company so has limited segregation of duties. The Company is therefore reliant on the critical personnel and an increase
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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    generally accepted in the United States of America (&#8220;US GAAP&#8221;). There is a risk that changes to US GAAP will negatively
    affect the Company in terms of results and could become more difficult, time-consuming, or costly and increase demand on the Company&#8217;s
    systems and resources to comply with this change. </span></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Industry
Risk</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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    &#8211; the advertising business is a highly competitive business. The Company offers niche advertising in a highly regulated
    business. However, there are few barriers to existing large advertising companies entering the market. Our existing customers could
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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    to secure inventory on reasonable terms in multiple locations. The amount, quality, and cost of inventory available to the Company
    can change at any time. If our relationships with any of our significant suppliers were to cease, or if the material terms of these
    relationships were to change unfavourably, our business would be negatively impacted.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    fraud include robotic traffic, where robots mimic the behaviour of users in order to inflate the number of impressions, clicks, post
    clicks actions or other metrics associated with the ad. The Company reviews all ads and monitors the impression serving with our
    suppliers.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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    events</span> &#8211; We maintain cloud-based servers around the world, that deliver advertising campaigns for our advertisers. Any
    of its existing and future facilities may be harmed or rendered inoperable by attack or security intrusion by a computer hacker,
    natural or man-made disasters, including earthquakes, tornadoes, hurricanes, wildfires, floods, nuclear disasters, war, acts of terrorism
    or other criminal activities, infectious disease outbreaks and power outages, any of which may render it difficult or impossible
    for the Company to operate its business for some period of time. The Company maintains backup and disaster recovery plans to get
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    and general uncertainty about continued economic recovery are likely to affect the Company&#8217;s business prospects. This uncertainty
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    campaigns, and expose the Company to increased credit risk on advertiser orders, which, in turn, could negatively impact its business,
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Risks
Related to the Common Shares and Corporate and Securities Law</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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    which our common shares will trade. Fluctuations in the market price of our common shares could cause an investor to lose all or
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9675;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Changes
    in regulatory developments in Canada and the United States;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9675;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">General
    economic conditions and trends, including global financial markets, global economies and general market conditions, such as interest
    rates;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9675;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Major
    catastrophic events (e.g. the war in the Ukraine);</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9675;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unexpected
    market reactions to the Company announcements. </span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1.25in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
a result, share prices of many technology companies have fluctuated in a manner unrelated or disproportionate to the operating performance
of those companies. In general, in the past, shareholders have filed securities class action litigation following periods of market volatility.
If Kidoz were to become involved in securities litigation, it could subject it to substantial costs, divert resources and the attention
of management from our business, and adversely affect our business.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Public
    Company implications</span> &#8211; The Company is listed on the Toronto Venture Stock Exchange and is therefore subject to its listing
    requirements. Compliance with these rules and regulations could become more difficult, time-consuming, or costly and increase demand
    on the Company&#8217;s systems and resources.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="aj_008"></span>Item 4. </b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>INFORMATION ON THE COMPANY </b></span></p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>A.
History and development of the company.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kidoz
Inc. are currently quoted on the TSX Venture Exchange in Canada under the symbol &#8220;KIDZ&#8221;. We have not been subject to any
bankruptcy, receivership, or other similar proceedings.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2023, Kidoz Inc. continued out of the jurisdiction of the Anguillian Business Companies Act, 2022, and into
the jurisdiction of the Canada Business Corporations Act (&#8220;CBCA&#8221;).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company was originally incorporated in the State of Florida on January 12, 1987.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
January 22, 2015, Bingo.com, Ltd., the name of the Company at that time, filed Articles of Amendment with the Anguilla Registrar of Companies
changing its name to &#8220;Shoal Games Ltd.&#8221;. Effective at the open of markets on January 27, 2015, the Common Shares commenced
trading under the new trading symbol &#8220;SGLDF&#8221; on the OTC-QB.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
June 29, 2015, Shoal Games Ltd. filed a TSX Venture Exchange Listing Application for the TSX Venture Exchange listing and commenced trading
on July 2, 2015, under the symbol &#8220;SGW&#8221;.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
April 4, 2019, Shoal Games Ltd. filed Articles of Amendment with the Anguilla Registrar of Companies changing its name to &#8220;Kidoz
Inc.&#8221;. Effective at the open of markets on April 9, 2019, the Common Shares commenced trading under the new trading symbol &#8220;KIDZ&#8221;
on the TSX Venture Exchange.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2023, Kidoz Inc. continued out of the jurisdiction of the Anguillian Business Companies Act, 2022, and into
the jurisdiction of the Canada Business Corporations Act (&#8220;CBCA&#8221;).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
executive offices are located at Pacific Centre, Suite 1500, 701 West Georgia Street, Vancouver, British Columbia, V7Y 1C6, Canada. Our
telephone number is (888) 374-2163.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>B.
Business overview.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kidoz
Inc. is an AdTech software developer and owner of the leading mobile Kidoz Safe Ad Network (www.kidoz.net). We help create a free and
safe mobile app environment for children by enabling content producers to monetize their apps and video with safe, relevant, and fun
ads. Our commitment to family privacy and safety has created one of the fastest growing mobile networks in the world.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2023, the Company launched a wholly owned division called Prado to advertise to the over 13 years of age
family market. The Company has developed systems whereby our existing Kidsafe advertising will not be affected by Prado.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Product
Strategy</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kidoz
builds and maintains the Kidoz Safe Ad Network, the Kidoz SDK, and the Kidoz Privacy Shield for app developers and global advertisers
to reach children and families in a compliant and brand safe way. The Kidoz SDK is the core of the advertising technology that enables
Kidoz to have advertising impressions available for sale. The Kidoz proprietary advertising system is compliant with COPPA (&#8220;Children&#8217;s
Online Privacy Protection Rule&#8221;), GDPR-K (&#8220;The European Union&#8217;s General Data Protection Regulation for children&#8221;)
and other regulations adopted to protect children in a complex digital world. Kidoz technology is completely proprietary. Kidoz continues
to upgrade its advertising systems to be compatible with the latest IAB (&#8220;International Advertising Board&#8221;) specifications
for real-time-bidding, header bidding, and server-to-server direct connections. Our design and implementation of these solutions incorporates
a view to their utilization not only in the kids&#8217; marketplace but to the entire advertising market. Programmatic advertising is
the use of automated advertising technology to enable media buying and selling as opposed to traditional direct methods of digital advertising
which involve humans interfacing to agree to deal terms. Offering a managed programmatic solution of the best mobile advertising inventory
is a valuable offering that our agency partners are utilizing with increased frequency and scale.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2023, the Company launched a wholly owned division called Prado to access the over 13 years of age family
market. The Prado (www.prado.co) technology will provide a leading mobile SSP (Supply-side Platform), DSP (Demand-side Platform) and
Ad Exchange programmatically to the entire Ad Tech universe. By activating high-performance programmatic campaigns across thousands of
apps on their network, Prado makes digital advertising more efficient and effective by simplifying the process across a connected technology
platform. The Company has developed systems whereby our existing Kidsafe advertising will not be affected by Prado. Kidoz software engineers
have now completed the challenging transformation of their market leading kid safe Ad Network to also reach the significantly larger
digital ad market of teens, families, and audiences over 13 years old whilst not compromising the safety of our existing kids marketplace.
The Prado technology plus our internal controls will ensure that no inappropriate advertisements will be served to children and thereby
compromise kids&#8217; safety.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Marketing
&amp; Distribution Strategy</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
new app that installs the Kidoz SDK increases our user base and increases the number of available impressions that Kidoz can monetize.
The adoption of the Kidoz SDK has been rapid as app developers have few choices when it comes to sources of safe, compliant, and relevant
ads for their users. Kidoz has built its brand and reputation as the market leader for safe child and family mobile advertising technology,
and this has enabled our SDK to become quickly adopted. It is our strategy to invest in our systems and build alliances with the largest
software companies in the world. Since Google&#8217;s certification of Kidoz and Apple&#8217;s updated rules endorsing Kidoz&#8217;s
methodologies the Company is experiencing unprecedented demand for its safe advertising solutions.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Sales
&amp; Pricing Strategy</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kidoz
has a global sales agency partnership strategy that places local sellers into dozens of national and international markets. In 2023 Kidoz
launched campaigns in 59 different countries. Through our direct sales and marketing channels we locate, recruit, and sign new international
sales houses. As the Kidoz network is a unique advertising platform in the market, it commands high prices and media sales houses aspire
to represent the Company. Kidoz has found the agency partnership strategy to be highly effective as once sales houses are recruited and
the first few campaigns are delivered with success, repeat customers are established and the value of the region begins to grow. After
years of development with this strategy, Kidoz has many established sales houses in the largest economies of the world and is now tasked
with increasing the value of each partnership and empowering the sales houses to increase the portion of advertisers&#8217; budgets that
is spent with Kidoz. The Kidoz Programmatic solution has created new opportunities for all of Kidoz&#8217;s agency partners as the solution
creates inventory for brands who are building awareness with parents and teens in addition to children.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Growth
Strategy</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Kidoz sales, product, and operational strategies are custom fit to match the favorable regulatory, consumer, and technological trends
occurring in the market. It is the Kidoz mission to deliver best-in-class solutions for our advertiser and publisher partners that are
compliant with Apple, Google, and strict government data privacy regulations. Kidoz technology is built with privacy as a priority, and
we champion contextual advertising as a superior method of reaching target consumers. Kidoz publisher partners can monetize with human-curated
safe advertising on a global scale and with the knowledge that their users&#8217; data is not compromised.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kidoz&#8217;s
growth is also being propelled by a new customer type, the app developer themselves. Kidoz is increasingly utilized as a performance
platform for apps to scale their installs and revenues by paying on a cost-per-install (&#8220;CPI&#8221;) basis. The global app install
segment of mobile advertising is estimated to be over US$120B annually according to AppsFlyer. Kidoz continues to advance its software
and systems to support this high growth business and the Company expects performance CPI media to be an increasing percentage of overall
business.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kidoz
is growing as a result of its core media business, and we expect further growth in our expansion via our Prado division to include the
teen and parent segments which became effective in 2023. Kidoz Connect is the latest product release to deliver enhanced value to our
advertising partners as the technology enables Kidoz to ingest programmatic campaigns of all types and scale them across the entire Kidoz
and Prado networks. The Kidoz commercial teams look forward to welcoming many new and existing customers to these offerings as we expand
the Kidoz reach within the global digital advertising ecosystem.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Furthermore,
while the focus of the Company is the development and expansion of the KIDOZ Safe Ad Network, we are investigating options to use our
technology to expand into new markets, either through new connections to the wider mobile advertising market, or via synergistic M&amp;A.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Kidoz
Original Equipment Manufacturer (&#8220;OEM&#8221;)</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kidoz&#8217;s
mobile products includes the Kid Mode Operating System (&#8220;OS&#8221;) installed on millions of OEM tablets worldwide. The Company
earns license fees based on the OEM agreements dependent on the number of devices the Kidoz Kid Mode OS is installed.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Rooplay</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>The
Company owns Rooplay (www.rooplay.com) the cloud-based EduGame system for kids to play multiple games to learn and play. The platform
is live </b>on the Google&#8217;s Android system and has stand-alone games available on Apple&#8217;s iOS and Google&#8217;s Android
systems.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Trophy
Bingo and Garfield Bingo</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company has the social bingo games Trophy Bingo and Garfield Bingo which are available on Apple&#8217;s iOS, Google&#8217;s Android,
and Amazon Android systems. Revenue is generated in the games via in-app purchases and advertising. During the year ended December 31,
2023, Trophy Bingo and Garfield Bingo were discontinued.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>C.
Organizational structure.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
the year ended December 31, 2023, we conducted our business through the Anguilla incorporated entity and through our wholly-owned subsidiaries
Kidoz Ltd. (&#8220;Kidoz Ltd.&#8221;), Shoal Media (Canada) Inc. (&#8220;Shoal Media Canada&#8221;), Shoal Games (UK) plc (&#8220;Shoal
UK&#8221;), Shoal Media Inc. (&#8220;Shoal Media&#8221;), Prado Media Ltd. (&#8220;Prado Media&#8221;), Shoal Media UK Ltd. (&#8220;Shoal
Media UK&#8221;), and Rooplay Media Kenya Limited. (&#8220;Rooplay Kenya&#8221;). Effective January 1, 2023, we conducted our business
through the Canadian incorporated entity and its subsidiaries.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shoal
Media Canada was incorporated under the laws of British Columbia, Canada, on February 10, 1998, as 559262 B.C. Ltd. and changed its name
to Bingo.com (Canada) Enterprises Inc. on February 11, 1999. It subsequently changed its name to English Bay Office Management Limited
on September 8, 2003. Effective March 11, 2016, it changed its name to Shoal Media (Canada) Inc.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
August 15, 2002, 99% of the share capital of Shoal UK was acquired. Shoal UK was incorporated under the laws of England and Wales on
August 18, 2000, as CellStop plc. and changed its name to Bingo.com (UK) plc. on August 5, 2002. During the year ended December 31, 2015,
the Company changed the name of the company to Shoal Games (UK) plc. During the year ended December 31, 2023, Shoal Games (UK) plc was
discontinued and struck off.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
January 21, 2008, Coral Reef Marketing Inc., was incorporated under the laws of Anguilla, British West Indies. During the year ended
December 31, 2022, Coral Reef Marketing Inc. was merged with Kidoz Inc. and Kidoz Inc. is the surviving corporation.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
January 1, 2013, 100% of the share capital of Shoal Media Inc., an Anguillian Company was acquired.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
October 25, 2016, Rooplay Media Ltd., was incorporated under the laws of British Columbia, Canada. During the year ended December 31,
2022, Rooplay Media Ltd. was renamed Prado Media Ltd.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
March 27, 2017, Shoal Media UK Ltd. was incorporated under the laws of England and Wales.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
July 12, 2017, Rooplay Media Kenya Limited was incorporated under the laws of Kenya.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
March 4, 2019, the Company completed the acquisition of all of the issued and outstanding equity securities of Kidoz Ltd. (&#8220;Kidoz&#8221;)
(www.kidoz.net), a privately held Israeli company.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>D.
Property, plants and equipment.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Effective
January 1, 2023 our executive office is located in Vancouver, British Columbia, Canada.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have 2 primary development and operational offices located in Vancouver, Canada and Netanya, Israel.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2019, the Company signed a five-year lease in Vancouver, Canada ending March 2024. This facility comprises
approximately 1,459 square feet. The monthly rental is approximately $4,137.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kidoz
Ltd. has an annual office lease in Netanya, Israel, with rent payable on a quarterly basis. The operating lease expired on July 14, 2017,
but unless 3 months&#8217; notice is given it automatically renews for a future 12 months until notice is given. This facility comprises
approximately 190 square metres. The monthly rental is approximately $4,004.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
operate a sales and marketing office in London, United Kingdom. There are no direct monthly rental fees associated with the London office.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe that these facilities will be adequate to meet our requirements for the near future and that suitable additional space will be
available if needed. Since March 2020, the majority of Kidoz staff world-wide is operating from home or other suitable locations and
interacting on a daily basis through communication technologies. It is anticipated this will continue for the foreseeable future due
to the benefits derived with increased productivity and personal satisfaction from our staff. Other than described above, neither we,
nor any of our subsidiaries presently own or lease any other property or real estate.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="aj_009"></span>ITEM 4A. </b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>UNRESOLVED STAFF COMMENTS</b></span></p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
Applicable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="aj_010"></span>ITEM 5. </b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>OPERATING AND FINANCIAL REVIEW AND PROSPECTS</b></span></p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>The
following discussion and analysis is based on and should be read in conjunction with our consolidated financial statements, including
the related notes, and the other financial information included in this Report. The following discussion contains forward-looking statements
that reflect our current plans, estimates and beliefs and involve risks and uncertainties. Our actual results may differ materially from
those discussed in the forward-looking statements. Factors that could cause or contribute to such differences include those discussed
below and elsewhere in this Report. </i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kidoz
Inc. (TSXV: KIDZ) mission is to keep children safe in the complex digital advertising ecosystem. Kidoz Inc. is a mobile advertising technology
company and owner of the KIDOZ Safe Ad Network (www.kidoz.net) and the Kidoz Publisher Software Development Kit (&#8220;SDK&#8221;).
By developing solutions for app developers to monetize with safe, relevant, and fun ads we help keep the Google and Apple app stores
safe and free for children. Our commitment to children&#8217;s privacy and safety has created one of the fastest growing mobile networks
in the world. Unlike most digital advertising, every campaign on the Kidoz platform is free of location information, device identifiers,
behavioural data, and other trackers used by advertisers to identify and track users across the Internet commonly known as IDFA and AAID.
Our technology does not rely on any permanent identifiers, and as Google and Apple begin to disallow persistent trackers from being employed
by any network (child-directed or not), Kidoz&#8217;s strength increases.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following discussion and analysis of the Company&#8217;s financial condition and results of operations are presented in United States
Generally Accepted Accounting Principles (&#8220;US GAAP&#8221;) and presented in US Dollars, the Company&#8217;s functional currency.
</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>A.
Operating results </i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Results
of Operations</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gross
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,123,845</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operating
    expenses excluding interest and other income (expenses)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(6,153,451</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4,357,188</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amortization
    and expiration of right-of-use assets</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(29,748</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(28,935</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(40,851</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Depreciation
    and amortization</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(558,740</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(557,267</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(565,540</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gain
    on derivative liability &#8211; warrants</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">51</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">23,314</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">60,207</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interest
    and other income</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,049</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">185</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">241</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Income
    tax recovery / (expense)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">25,978</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">150,489</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(216,677</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Provision
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic
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    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(0.01</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(0.00</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Weighted
    average common shares outstanding</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">131,340,989</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Year
Ended December 31, 2023, Compared with Year Ended December 31, 2022</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Revenue</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
revenue, net of platform fees (to Apple, Google and Amazon) and withholding taxes, for the year ended December 31, 2023, decreased to
$13,326,824, a decrease of 12% over total revenue net of fees and withholding taxes of to $15,097,056 for fiscal 2022. Ad Tech advertising
revenue for the year ended December 31, 2023, was $11,879,425 a decrease of 18% over Ad Tech advertising revenue of $14,425,918 for fiscal
2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Programmatic
advertising revenue for the year ended December 31, 2023, was $1,223,392 an increase of 239% over Programmatic advertising revenue of
$361,394 for fiscal 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Content
revenue for year ended December 31, 2023, decreased to $224,007, a decrease of 28% over content revenue of $309,744 for fiscal 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
decrease in total revenue over fiscal 2022 is due to the overall weakness in the general market and the loss of some campaigns from fiscal
2022 which did not renew in fiscal 2023. Management believes that distortions in the overall market in fiscal 2022 existed due to COVID
and returned to normal in fiscal 2023. The increase in programmatic advertising revenue is due to the active promotion of this revenue
stream and the strong demand for Programmatic advertising in the market.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Selling
and marketing expenses</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sales
and marketing expenses for the year ended December 31, 2023, were $1,268,218, an increase of 22% over selling and marketing expenses
of $1,039,713 for fiscal 2022. The increase in sales and marketing expenses over fiscal 2022 is due to an increase in sales and marketing
staff to manage the anticipated growth in the Direct, Programmatic and Performance segments of our AdTech business. Selling and marketing
expenses consist primarily of sales staff salaries and benefits and publishing services and user acquisition costs incurred to acquire
game players.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
expect to incur increased sales and marketing expenses in selling the Ad tech advertising and to grow the Ad tech advertising revenue.
There can be no assurances that these expenditures will result in increased traffic or significant additional revenue.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Software
technology development </b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
do not capitalize our development costs. Software technology development costs of $2,999,079 were expensed for year ended December 31,
2023, an increase of 20% from software technology development costs of $2,496,877 expensed for fiscal 2022. These increases over fiscal
2022, is due to the hiring of additional development staff and the outsourcing of certain software development to increase the development
of our base technologies including the development of the Prado technology. In addition, as we have expanded our global reach our server
costs have increased.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>General
and administrative expenses</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">General
and administrative expenses consist primarily of legal and professional fees, premises costs for our offices and development facilities,
and other general corporate and office expenses. General and administrative expenses decreased to $673,654 for the year ended December
31, 2023, a decrease of 11% over general and administrative expenses of $760,936 in fiscal 2022. The decrease in general and administrative
expenses is due a decrease in fees paid to our professional advisors and a decrease in legal and filing fees as a result of the Normal
Course Issuer Bid and the continuation of the Company out of Anguilla and into Canada incurred in fiscal 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
expect to continue to incur general and administrative expenses to support the business, and there can be no assurances that we will
be able to generate sufficient revenue to cover these expenses.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Salaries,
wages, consultants, and benefits</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Salaries,
wages, consultants, and benefits decreased to $705,830 for the year ended December 31, 2023, a decrease of 6% over salaries, wages, consultants,
and benefits of $751,811 for fiscal 2022. The decrease in salaries, wages, consultants, and benefits over fiscal 2022, is due to a decrease
in the consultants employed by the Company in 2023.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Depreciation
and amortization</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Intangible
assets are amortized using a straight-line method over three to eight years. These intangible assets include customer lists, the technology
for Kidoz OS and the software development kits (&#8220;SDK&#8221;) for our advertising platform. These intangible assets are as result
of the acquisition of Kidoz Ltd. The amortization for the year ended December 31, 2023, was $545,737 compared to $547,460 in fiscal 2022.
The decline is amortization for the year ended December 31, 2023, is due the full amortization of the Kidoz OS technology.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Equipment
is depreciated using the declining balance method over the useful lives of the assets, ranging from three to five years. Depreciation
increased to $13,002 during the year ended December 31, 2023, over depreciation of $9,807 in fiscal 2022. This increase in depreciation
and amortization compared to fiscal 2022, is due to the acquisition of new equipment and the write-off of old equipment.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Stock-based
compensation expense</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2023, the Company incurred non-cash stock compensation expenses of $515,116 compared to non-cash stock compensation
expenses of $696,248 for fiscal 2022. During the year ended December 31, 2023, the Company granted 1,885,000 (fiscal 2022 - 2,550,000)
options. The options granted in fiscal 2023 and 2022, are issued to consultants and employees as per the Company&#8217;s amended 2015
Rolling Stock Option Plan. The non-cash stock compensation program is an integral part of the Companies overall Staff Compensation Program.</span></p>

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awareness program</b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2021, the Company commenced a corporate stock awareness program. The Company engaged Research Capital Corporation,
Agora Internet Relations Corp., Stockhouse Publishing Ltd. and Proactive for financial and capital markets advisory services and to assist
with general market outreach to increase investor awareness as the Company continues to achieve important milestones and grow its investor
base. During the year ended December 31, 2023, the Company discontinued its stock awareness program with Proactive and with Stockhouse
Publishing Ltd. in fiscal 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company incurred stock awareness expenses of $146,300 for year ended December 31, 2023, a decrease of 9% from stock awareness expenses
of $161,332 expensed for fiscal 2022. The decrease in Stock Awareness expenses compared to fiscal 2022 is due to the planned reduction
in stock awareness commitments and the discontinuance with Proactive.</span></p>

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income and expenses</b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2023, the Company has a foreign exchange gain of $1,139 compared to foreign exchange loss of ($142,857) in
the prior year. These gains are due to the exchange rate movements of the US Dollar compared to the Pound Sterling, Israeli Shekel, European
Euro, and the Canadian Dollar. The Company does not hedge its cash assets.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2023, we received interest income of $1,049 compared to interest income of $185 in the prior year. The interest
income is received from bank term deposits from investing our cash. The increase in interest income is due to an increase in interest
rates and higher bank account balances in interest earning bank accounts in fiscal 2023 compared to fiscal 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2023, the Company had a gain on the derivative liability &#8211; warrants of $51 compared to gain on the
derivative liability &#8211; warrants of $23,314 in fiscal 2022. This derivative liability &#8211; warrants results from the issuance
of the 230,000 warrants to Research Capital Corporation during the year ended December 31, 2021, and which expired unexercised in the
year ended December 31, 2023.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Amortization
of right-of-use assets</b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
January 1, 2020, the Company adopted ASC Topic 842 using the modified retrospective transition method. Topic 842 requires the recognition
of lease assets and liabilities for operating leases. The Company recognized right-of-use assets relating to the brand licenses and the
Vancouver, Canada office rental. During the year ended December 31, 2023, the Company amortized $26,828 and $2,920 expired on the Anguillian lease compared to right-of-use assets
amortization of $28,935 in fiscal 2022. Subsequent to the year ended December 31, 2023, the lease on the Vancouver office expired and
was not renewed.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Income
taxes </b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2023, the Company had a tax recovery of $25,978 compared to a tax recovery of $150,489 in fiscal 2022. During
the year ended December 31, 2023, our Israeli subsidiary was officially recognized as a Preferred Technology Enterprise in Israel, a
prestigious status that comes with extensive tax relief benefits as provided by law and applied to the fiscal 2022 tax year.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2023, the subsidiaries of the Company had a tax expense of $924 compared to a tax expense of $60,010 in fiscal
2022.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2005, Bingo.com, Inc. merged with its subsidiary Bingo.com, Ltd. in Anguilla, British West Indies. Anguilla
is a zero-tax jurisdiction. During the year ended December 31, 2023, Kidoz Inc. continued out of the jurisdiction of the Anguillian Business
Companies Act, 2022, and into the jurisdiction of the Canada Business Corporations Act (&#8220;CBCA&#8221;) and is now a Canadian taxpayer.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Net
(loss) income and (loss) income per share</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
net loss after taxation for the year ended December 31, 2023, amounted to ($2,012,056) a loss of ($0.02) per share, compared to a net
loss of ($1,347,113), a loss of ($0.01) per share, in the year ended December 31, 2022. The net loss increased for the year ended December
31, 2023, due to a decrease in revenue, an increase in staff and outsourcing of certain software technology development. This increase
in staff is due to the hiring of additional development staff and sales and marketing personnel to increase the development of our base
technology and increase our sales and account management respectively.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Year
Ended December 31, 2022, Compared with Year Ended December 31, 2021</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Revenue</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
revenue, net of platform fees (to Apple, Google, and Amazon) and withholding taxes, for the year ended December 31, 2022, increased to
$15,097,056, an increase of 21% over total revenue net of fees and withholding taxes of to $12,484,639 for fiscal 2021. Ad Tech advertising
revenue for the year ended December 31, 2022, was $14,425,918 an increase of 18% over Ad Tech advertising revenue of $12,194,518 for
fiscal 2021. Programmatic advertising revenue for the year ended December 31, 2022, was $361,394 an increase of 518% over Programmatic
advertising revenue of $58,507 for fiscal 2021. Content revenue for year ended December 31, 2022, increased to $309,744, an increase
of 34% over content revenue of $231,614 for fiscal 2021. The increase in total revenue over fiscal 2021 is due to the growth of our publisher
reach and our advertising customers increasing their advertising budgets with the Kidoz safe mobile network. Programmatic revenue commenced
in fiscal 2021 and in fiscal 2022 we actively started promoting this revenue stream and hired sales and support staff to operate it.
The increase in content revenue is due to the increase of OEM sales of kids&#8217; tablets.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Selling
and marketing expenses</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sales
and marketing expenses for the year ended December 31, 2022, were $1,039,713, an increase of 62% over selling and marketing expenses
of $641,393 for fiscal 2021. The increase in sales and marketing expenses over fiscal 2021 is due to an increase in sales and marketing
staff to manage the anticipated growth in the Direct, Programmatic and Performance segments of our AdTech business. Selling and marketing
expenses consist primarily of sales staff salaries and benefits and publishing services and user acquisition costs incurred to acquire
game players.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>General
and administrative expenses</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">General
and administrative expenses consist primarily of legal and professional fees, premises costs for our offices and development facilities,
and other general corporate and office expenses. General and administrative expenses increased to $760,936 for the year ended December
31, 2022, an increase of 26% over general and administrative expenses of $604,882 in fiscal 2021. The increase in general and administrative
expenses is due an increase in fees paid to our professional advisors and an increase in legal and filing fees for the Normal Course
Issuer Bid and the continuation of the Company out of Anguilla and into Canada.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Salaries,
wages, consultants, and benefits</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Salaries,
wages, consultants, and benefits increased to $751,811 for the year ended December 31, 2022, an increase of 8% over salaries, wages,
consultants, and benefits of $693,964 for fiscal 2021. The increase in salaries, wages, consultants, and benefits over fiscal 2021, is
due to an increase in the overall headcount of staff employed by the Company to service its rapid growth.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Depreciation
and amortization</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Intangible
assets are amortized using a straight-line method over three to eight years. These intangible assets include customer lists, the technology
for Kidoz OS and the software development kits (&#8220;SDK&#8221;) for our advertising platform. These intangible assets are as result
of the acquisition of Kidoz Ltd. The amortization for the year ended December 31, 2022, was $547,460 compared to $556,072 in fiscal 2021.
The decline is amortization for the year ended December 31, 2022, is due the full amortization of the Kidoz OS technology.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Equipment
is depreciated using the declining balance method over the useful lives of the assets, ranging from three to five years. Depreciation
increased to $9,807 during the year ended December 31, 2022, over depreciation of $9,468 in fiscal 2021. This increase in depreciation
and amortization compared to fiscal 2021, is due to the acquisition of new equipment and the write-off of old equipment.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Software
technology development </b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
do not capitalize our development costs. Software technology development costs of $2,496,877 were expensed for year ended December 31,
2022, an increase of 49% from software technology development costs of $1,678,848 expensed for fiscal 2021. These increases over fiscal
2021, is due to the hiring of additional development staff and the outsourcing of certain software development to increase the development
of our base technologies including the development of the Prado technology. In addition, as we have expanded our global reach our server
costs have increased.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Stock-based
compensation expense</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2022, the Company incurred non-cash stock compensation expenses of $696,248 compared to non-cash stock compensation
expenses of $660,266 for fiscal 2021. During the year ended December 31, 2022, the Company granted 2,550,000 options. The options granted
in fiscal 2022, are issued to consultants and employees as per the Company&#8217;s amended 2015 Rolling Stock Option Plan. The non-cash
stock compensation program is an integral part of the Companies overall Staff Compensation Program.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Stock
awareness program</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2021, the Company commenced a corporate stock awareness program. The Company engaged Research Capital Corporation,
Agora Internet Relations Corp., Stockhouse Publishing Ltd. and Proactive for financial and capital markets advisory services and to assist
with general market outreach to increase investor awareness as the Company continues to achieve important milestones and grow its investor
base. During the year ended December 31, 2022, the Company discontinued its stock awareness program with Stockhouse Publishing Ltd.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company incurred stock awareness expenses of $161,332 for year ended December 31, 2022, a decrease of 60% from stock awareness expenses
of $402,845 expensed for fiscal 2021. The decrease in Stock Awareness expenses compared to fiscal 2021 is due to the planned reduction
in stock awareness commitments.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Other
income and expenses</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2022, the Company has a foreign exchange loss of ($142,857) compared to foreign exchange loss of ($69,835)
in the prior year. These losses are due to the exchange rate movements of the US Dollar compared to the Pound Sterling, Israeli Shekel,
European Euro, and the Canadian Dollar. The Company does not hedge its cash assets.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2022, we received interest income of $185 compared to interest income of $241 in the prior year. The interest
income is received from bank term deposits from investing our cash. The decrease in interest income is due to lower bank account balances
in interest earning bank accounts in fiscal 2022 compared to fiscal 2021.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2022, the Company had a gain on the derivative liability &#8211; warrants of $23,314 compared to gain on
the derivative liability &#8211; warrants of $60,207 in fiscal 2021. This derivative liability &#8211; warrants results from the issuance
of the 230,000 warrants to Research Capital Corporation during the year ended December 31, 2021, and will expire in the year ended December
31, 2023.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Amortization
of right-of-use assets</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
January 1, 2020, the Company adopted ASC Topic 842 using the modified retrospective transition method. Topic 842 requires the recognition
of lease assets and liabilities for operating leases. The Company recognized right-of-use assets relating to the brand licenses and the
Vancouver, Canada and Anguillian office rental. During the year ended December 31, 2022, the Company amortized $28,935 compared to right-of-use
assets amortization of $40,851 in fiscal 2021.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Income
taxes </b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2022, the Company had a tax recovery of $150,489 compared to a tax expense of $216,677 in fiscal 2021. Our
Israeli subsidiary had a deferred tax asset of $210,499 compared to a deferred tax liability of $210,449 in fiscal 2021. This deferred
tax asset relates to the acquisition of Kidoz Ltd. intangible assets. During the year ended December 31, 2022, the subsidiaries of the
Company had a tax expense of $60,010 compared to a tax expense of $6,178 in fiscal 2021.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Net
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
net loss after taxation for the year ended December 31, 2022, amounted to ($1,347,113) a loss of ($0.01) per share, compared to a net
loss of ($190,321), a loss of ($0.00) per share, in the year ended December 31, 2021. The net loss increased for the year ended December
31, 2022, despite an increase in revenue due to an increase in staff and outsourcing of certain software development. This increase in
staff is due to the hiring of additional development staff and sales and marketing personnel to increase the development of our base
technology and increase our sales and account management respectively.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Net
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Due
to our focus on maintaining a strong balance sheet while striving to continue our rapid growth on an annual basis and to evaluate our
performance and make financial and operational decisions accordingly we pay close attention to our net cash generated from operations
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
net cash from operations for the year ended December 31, 2023, was ($823,640) compared to $433,745 in the prior year. This decrease was
due to the decrease in revenue, our expansion of our R&amp;D program to increase the development of our base technologies and encompass
the Prado technology to facilitate our entrance into the total Ad-tech market while maintaining our leadership position in the kid safe
arena.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additionally,
our Adjusted Earnings Before Interest; Taxes; Depreciation and Amortization; stock awareness program; stock-based compensation and impairment
of goodwill (&#8220;Adjusted EBITDA&#8221;) for the year ended December 31, 2023, amounted to a loss of ($891,166) compared to an Adjusted
EBITDA of ($231,395) in the prior year.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
use Adjusted EBITDA internally to evaluate our performance and make financial and operational decisions that are presented in a manner
that adjusts from their equivalent GAAP measures or that supplement the information provided by our GAAP measures. Adjusted EBITDA is
defined by us as EBITDA (net income (loss) plus depreciation expense, amortization expense, interest, stock-based compensation, and impairment
of goodwill), further adjusted to exclude certain non-cash expenses and other adjustments. We use Adjusted EBITDA because we believe
it more clearly highlights business trends that may not otherwise be apparent when relying solely on GAAP financial measures, since Adjusted
EBITDA eliminates from our results specific financial items that have less bearing on our core operating performance.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Adjusted
EBITDA is not presented in accordance with, or as an alternative to, GAAP financial measures and may be different from non-GAAP measures
used by other companies. These non-GAAP measures should not be considered a substitute for, or superior to, financial measures calculated
in accordance with generally accepted accounting principles in the United States of America (&#8220;GAAP&#8221;). We encourage investors
to review the GAAP financial measures included in this Annual Report, including our consolidated financial statements, to aid in their
analysis and understanding of our performance and in making comparisons.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>B.
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company generates cash from operations but does have a line of credit with the Leumi Bank in Israel if required. During the year ended
December 31, 2021, the Company drew $200,000 from the line of credit. The loan was repaid in full during the year ended December 31,
2021.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company believes it has sufficient cash resources to meet its current growth and development objectives. Although the Company has relied
on revenue generated through its business, external funding may be required to continue growing the existing business and scaling operations.
There can be no assurance that adequate funding will be available in the future, or under terms that are favorable to the Company.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span style="text-decoration: underline">December
31, 2023, Compared to December 31, 2022</span></i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
had cash of $1,469,224 and working capital of $3,220,646 as at December 31, 2023. This compares to cash of $2,363,530 and working capital
of $4,147,176 as at December 31, 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2023, we used cash of ($823,640) in operating activities compared to providing cash of $433,745 in the prior
year.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
cash used in financing activities was ($61,952) in the year ended December 31, 2023, which compares to cash used in financing activity
of ($122,289) in fiscal 2022. During the year ended December 31, 2023, the Company repaid the CEBA loan of CAD$40,000 ($29,484). During
the year ended December 31, 2023, to the Company acquired 2,000 (2022 - 275,000) shares acquired pursuant to the NCIB in effect at an
aggregate cost of $517 (2022 - $87,778).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash
of ($8,714) was used in investing activities in fiscal 2023, compared to cash used of ($26,533) in the prior year. This decrease related
to the acquisition of new equipment for our new staff in fiscal 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span style="text-decoration: underline">December
31, 2022, Compared to December 31, 2021</span></i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
had cash of $2,363,530 and working capital of $4,147,176 as at December 31, 2022. This compares to cash of $2,078,607 and working capital
of $4,536,852 as at December 31, 2021.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2022, we provided cash of $433,745 in operating activities compared to providing cash of $851,533 in the
prior year.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
cash provided by financing activities was ($122,289) in the year ended December 31, 2022, which compares to cash provided by financing
activity of $1,413 in fiscal 2021. This increase related to the Company acquiring 275,000 shares acquired pursuant to the NCIB in effect
at an aggregate cost of $87,778.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash
of ($26,533) was used in investing activities in fiscal 2022, compared to cash used of ($384) in the prior year. This increase related
to the acquisition of new equipment for our new staff.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
future capital requirements will depend on several factors, including costs associated with the further development of the Ad tech advertising
business, the cost of marketing and customer acquisition costs, the development of new products, the acquisition of new companies and
the success of our overall business.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>C.
Research and development, patents and licenses, etc.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company is continually developing its technology to improve operations and to offer a better service to our customers. The Company expenses
all software technology development costs as incurred for the year ended December 31, 2023 and 2022. As at December 31, 2023 and 2022,
all capitalized software development costs have been fully amortized, and the Company has no capitalized software development costs.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>D.
Trend information.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Normal
Course Issuer Bid:</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2022, the Company filed a Notice of Intention to Make a Normal Course Issuer Bid (the &#8220;Notice of Intention&#8221;)
with the TSX Venture Exchange (&#8220;TSX-V&#8221;) on September 15, 2022. Upon receiving approval from the TSX-V, effective September
16, 2022, the Company commenced a normal course issuer bid (&#8220;NCIB&#8221;), whereby the Company may purchase for cancellation up
to 6,579,074 shares, being 5% of the issued and outstanding shares as of such date. Any purchases under the NCIB will be made on the
open market through the facilities of the TSX-V or alternative Canadian trading systems. Purchases will be made at market prices of the
shares at the time of acquisition.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchases
under the NCIB may commence as of September 16, 2022, and will end on the earlier of: (i) September 14, 2023; or (ii) the date on which
the Company has purchased the maximum number of shares to be acquired under the NCIB. The Company may terminate the NCIB earlier if it
feels it is appropriate to do so.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
normal course issuer bid will be conducted through Kidoz Inc&#8217;s broker Research Capital Corporation. The purchase and payment of
the common shares will be made in accordance with the requirements of the TSX-V and applicable securities laws. The actual number of
common shares purchased, timing of purchases and share price will depend upon market conditions at the time and securities law requirements.
All common shares acquired will be returned to treasury and cancelled.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
purchase of and payment for the shares will be made in accordance with the requirements of the TSX-V and applicable securities laws.
The actual number of shares purchased, timing of purchases and share price will depend upon market conditions at the time and securities
law requirements. All shares acquired pursuant to the NCIB will be returned to treasury and cancelled.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2023, 41,500 shares which were acquired during the year ended December 31, 2022, pursuant to the NCIB in
effect, at an aggregate cost of $11,793, were cancelled.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2023, 2,000 shares were acquired pursuant to the NCIB in effect, at an aggregate cost of $517. During the
year ended December 31, 2023, 2,000 shares were cancelled.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2022, 275,000 shares were acquired pursuant to the NCIB in effect, at an aggregate cost of $87,778. During
the year ended December 31, 2022, 233,500 shares were cancelled.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Common
Shares</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
bid quotations set forth below, reflect inter-dealer prices, without retail mark-up, mark-down or commission and may not reflect actual
transactions.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prices
    as per Yahoo! <sup>TM</sup> Finance</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>E.
Critical Accounting Estimates</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
information provided in this Form 20-F, including the consolidated financial statements, is the responsibility of management. The preparation
of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect amounts reported
in the financial statements and accompanying notes. There is a full disclosure and description of the Company&#8217;s critical accounting
policies, estimates, judgments, assumptions in the consolidated financial statements as at December 31, 2023 in notes 1 and 2.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Significant
areas requiring the use of estimates include the collectability of accounts receivable, the valuation of stock-based compensation, the
valuation of deferred tax assets and liabilities, the useful lives of intangible assets, and the derivative liability &#8211; warrants
valuation. Actual results may differ significantly from these estimates.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following discussion of critical accounting policies is intended to supplement the Summary of Significant Accounting Policies presented
as Note 2 to our audited consolidated financial statements presented elsewhere in this report. Note 2 summarizes the accounting policies
and methods used in the preparation of our consolidated financial statements.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
consider the following accounting policies to be both those most important to the portrayal of our financial condition and require the
most subjective judgment:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revenue
    recognition; </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Software
    technology development;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Impairment
    of long-lived assets</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Goodwill</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>F.
Off Balance Sheet Arrangements</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
did not have any off balance sheet arrangements for the years ended December 31, 2023, 2022 and 2021.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="aj_011"></span>ITEM 6. </b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES</b></span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>A.
Directors and senior management.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
directors and executive officers as at December 31, 2023, are as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 23%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Name</b></span></td>
    <td style="padding-bottom: 1.5pt; width: 2%">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: center; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Age</b></span></td>
    <td style="padding-bottom: 1.5pt; width: 2%">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 32%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Position</b></span></td>
    <td style="padding-bottom: 1.5pt; width: 2%">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: center; font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Audit
    Committee</b></span></td>
    <td style="padding-bottom: 1.5pt; width: 2%">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: center; font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Governance
    Committee</b></span></td>
    <td style="padding-bottom: 1.5pt; width: 2%">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: center; font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Compensation
    Committee</b></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">T.
    M. Williams </span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">83</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chairman</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">J.
    M. Williams</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">48</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Executive Officer</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">X</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">E.
    Ben Tora</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">53</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">President
    &amp; General Manager EMEA</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">F.
    Curtis</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">59</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-Executive
    Director</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>X*</b></span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">X*</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">X</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">C.
    Kalborg</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">62</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-Executive
    Director</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">X</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">X</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">X</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">M.
    David</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">58</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-Executive
    Director</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">X</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">X*</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">H.
    W. Bromley </span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">53</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Financial Officer</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">T.
    H. Williams</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">53</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">VP
    Product</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">X*
- Chairman of Committee</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Tryon
(Tarrnie) M. Williams</b> &#8211; Chairman, Member of the Board of Directors</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mr.
T. M. Williams served as President, Chief Executive Officer and Chairman from August 2001 until June 2011 and from June 2011 till May
2022, Mr T. M. Williams served as Executive Chairman. From May 2022, Mr. T. M. Williams has served as the Chairman of the Company. Since
1984, Mr. Williams has served as a principal of T.M. Williams (ROW), Inc., a private consulting firm, and from 1993 until 2008, was Adjunct
Professor, Sauder School of Business at the University of British Columbia. From 1988 to 1991, he was President and Chief Executive Officer
of Distinctive Software, Inc. in Vancouver, BC, and, upon the acquisition of that company by Electronic Arts Inc., North America&#8217;s
largest developer of entertainment software, he became President and Chief Executive Officer of Electronic Arts (Canada) Inc., where
he continued until 1993. From 1995 to 2012, Mr. T. M. Williams was a director of YM Biosciences, Inc., a biotechnology company, until
its acquisition by Gilead Sciences, Inc. In addition, he is a director of several other private corporations.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Jason
Williams</b> &#8211; Chief Executive Officer, Member of the Board of Directors</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mr.
J.M. Williams has been a director since July 2007 and from June 2011 to March 2019, Mr. J. M. Williams served as the sole Chief Executive
Officer of the Company. Since the acquisition of Kidoz Ltd. in 2019 until May 2022, he served as Co- Chief Executive Officer. From May
2022, has served the sole Chief Executive Officer of the Company. Prior to his employment with Kidoz Inc., he was a Business Analyst
with Blue Zone Inc. (a technology company) and RBC Dominion Securities. Mr. J. M. Williams has a Bachelor of Commerce degree from the
University of Victoria and a Masters of Business Administration degree, specializing in strategic marketing, from the University of Warwick.
In addition, Mr. J. M. Williams is a Non-Executive Director of Adventurebox Technology AB (pubL). Mr. J. M. Williams is the son of Mr.
T. M. Williams, the Company&#8217;s Chairman.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Eldad
Ben Tora - </b>President, Member of the Board of Directors</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mr.
E. Ben Tora served as Co-Chief Executive Officer from the acquisition by the Company of Kidoz Ltd in March 2019 until May 2022. Since
May 2022, Mr. E. Ben Tora has served as the President &amp; General Manager EMEA and since April 2023 General Manager of Prado. Mr. E.
Ben Tora was a co-founder of Kidoz Ltd. and has served as its Chief Executive Officer and Chief Revenue Officer since June 2013. Previously
he served as General Manager and Chief Product officer at Bluesnap (formerly Plimus), which was acquired by Great Hill Partners in 2011.
Mr. E. Ben Tora holds a bachelor&#8217;s degree in management and communication from the College of management in Tel Aviv. Mr. E. Ben
Tora is a serial entrepreneur and senior executive in venture-backed and public Internet companies, both early and growth stage, bringing
extensive experience in operating and scaling tech companies.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fiona
Curtis </b>&#8211; Non-Executive Director</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ms.
F. Curtis has served as a director of the Company since June 10, 2009. She has served as Compliance Officer and General Corporate Secretary
for Counsel Limited, an Anguillan financial services corporation, since 2006. Ms. F. Curtis is the Managing Director of Counsel Limited.
Ms. F. Curtis has been working in the financial services industry since 1990. She started at the brokerage firm, Burns Fry, in Toronto
(now Nesbitt Burns, Bank of Montreal). She completed her Canadian Securities Course and became a licensed Securities Broker in 1992.
She was educated in England, and attended the University of Toronto, Canada for her undergraduate degree. Ms. F. Curtis&#8217;s MBA in
Finance &amp; International Affairs was granted by the Rotman School of Business, University of Toronto. Ms. F. Curtis obtained her Associates
Degree in Captive Insurance in 2018. She has also served as Chairman of the Board of Anguilla Finance (2016 - 2020), the marketing body
for Anguilla Financial Services. Ms. F. Curtis is a Founding Member and Director of the Anguilla Compliance Association, now serving
as Chairman.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Claes
Kalborg</b> &#8211; Non-Executive Director</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mr.
C. Kalborg is a 20-year licensing veteran with experience from leading game companies such as Rovio (the makers of Angry Birds) and King.com
(the makers of Candy Crush). Taking on the aptly named role of licensing guru, Mr. C. Kalborg has gathered close to 50 licensees and
established a network of regional agents for Candy Crush around the world. Those agents include Striker Entertainment in the U.S. and
Canada; Tycoon Enterprises in Latin America (except Argentina and Brazil); Tycoon 360 in Brazil; IMC in Argentina; Mediogen in Israel;
Sinerji in Turkey; Pacific Licensing Studio in Southeast Asia; Wild Pumpkin Licensing in Australia and New Zealand; PPW in greater China;
and Voozclub in Korea. Mr. C. Kalborg brings a wealth of experience and a deep network in licensing and technology to Kidoz Inc. In addition,
Mr. C. Kalborg is a Non-Executive Director of Fragbite, LL Games, CanopyLAB A/S and Adventurebox Technology AB (pubL) and he is a partner
in Swiss based Non Violence S.A owning the IP rights for the globally renowned symbol &#8220;The Knotted Gun&#8221; and a board member
and partner in CF Entertainment holding global rights for the Crazy Frog.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Moshe
David </b>&#8211; Non-Executive Director</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mr.
M. David is an Investor, Executive, Board Director and Chairman. Currently serves as CEO of RAFT Technologies and Board member at Omnisys,
Mappo and Questar. During 2022 and early 2023, Mr. David served as Investor and Resident Executive in Entree Capital and as Active Chairman
at Wisesight, and as Board member and Advisor at Sweetch, Bria.ai and Swapp. Until early 2022 served as Chief Executive Officer at TIBA,
a global leader in Parking revenue systems where he has quadrupled its revenue and became a global market leader. Prior to TIBA, Mr.
David founded several companies and served as an Executive and Board member in several more, including NlightU, OzVision and TvPoint.
Mr. David also served as deputy CEO managing Ness Technologies and as President of North America in Amdocs Inc., in both roles managing
businesses of hundreds of millions of USD$ and thousands of employees around the globe. Mr. David started his career in the Israeli Airforce.
He has a BA in Economics and Computer Science from Bar Ilan University in Israel, and an MBA Cum Laude from Boston University.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Mr.
H. W. Bromley</b> has served as our Chief Financial Officer since July 2002. From 2000 to 2001, Mr. Bromley was a Director and the Group
Financial Officer for Agroceres &amp; Co. Ltd. From 1995 - 1999, he was an employee of Ernst &amp; Young working in South Africa and
in the United States of America. Mr. Bromley has in addition worked for CitiBank, Unilever PLC, Gerrard, Roadhouse Interactive Ltd. and
CellStop Systems Inc. Mr. Bromley is a Chartered Accountant.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Mr.
T. H. Williams</b> is VP Product, where he leads technology and product development. A highly experienced, creative leader who has dedicated
his career to building products on the forefront of technology. Mr. T. H. Williams has led development on a wide variety of platform
launches, new devices, and innovative business models, and has helped build and operate multiple successful studios and teams, including
Electronic Arts Inc. in Vancouver, Canada and Los Angeles, United States; Relic Entertainment Inc.; Roadhouse Interactive Ltd.; and Blueprint
Reality Inc. He is passionate about his teams, loves solving hard problems, and has produced over $2 billion in retail product sales
across his career. Mr. T. H. Williams is the son of Mr. T. M. Williams, the Company&#8217;s Chairman.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0"><b>Board Diversity</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0">The table below provides certain information regarding the diversity of
our board of directors as of the date of this Annual Report.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>B.
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
    of the compensation paid to the Named Executive Officer is paid to Farcast Operations Inc. Ltd. for the services of Mr. T. H. Williams.
    </span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 53.85pt; text-align: justify; text-indent: -17.85pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Management
Services Agreement</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company has the following management consulting agreements with related parties.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.3in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 95%; margin-left: 0.25in">
  <tr style="vertical-align: bottom">
    <td style="border-bottom: Black 1.5pt solid; text-align: justify">Company</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: justify">Person</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: justify">Role</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Annual amount</td><td style="padding-bottom: 1.5pt">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 27%; text-align: justify">T.M. Williams (ROW), Inc.</td><td style="width: 2%">&#160;</td>
    <td style="width: 25%; text-align: justify">T. M. Williams</td><td style="width: 2%">&#160;</td>
    <td style="width: 21%; text-align: justify">Chairman</td><td style="width: 2%">&#160;</td>
    <td style="width: 4%; text-align: left">$</td><td style="width: 16%; text-align: right">160,000</td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify">Bromley Accounting<br/> Services Ltd.</td><td>&#160;</td>
    <td style="text-align: justify">H. W. Bromley</td><td>&#160;</td>
    <td style="text-align: justify">CFO</td><td>&#160;</td>
    <td style="text-align: left">CAD$</td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">215,000</span></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify; padding-bottom: 1.5pt">Farcast Operations Inc.</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="text-align: justify; padding-bottom: 1.5pt">T. H. Williams</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="text-align: justify; padding-bottom: 1.5pt">VP Product</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">CAD$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">240,000</span></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Compensation
of Non-Executive Directors</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Non-Executive Directors receive a cash compensation for their services as members of the Board of Directors based on a compensation per
meeting. During the year ended December 31, 2023, the Non-Executive Directors collectively received compensation of $7,505 (Fiscal 2022
- $8,970). The Executive directors currently do not receive cash compensation for their services as members of the Board of Directors.
In addition, both the Non-Executive and the Executive Directors are reimbursed for expenses in connection with attendance at Board of
Directors meetings and specific business meetings. Directors are eligible to participate in our stock option plans. Option grants to
directors are at the discretion of the Board of Directors acting upon the recommendation of the Compensation committee.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>C.
Board Practices</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
currently have six directors. All directors currently hold office until the next annual meeting of stockholders or until their successors
have been elected and qualified. Our officers are appointed annually by the Board of Directors and hold office until their successors
are appointed and qualified. Pursuant to the Company&#8217;s by-laws, the number of directors shall be increased or decreased from time-to-time
by resolution of the Board of Directors or the shareholders. Mr. J. M. Williams and Mr. T. H. Williams are sons of Mr. T. M. Williams.
There are no other family relationships between any of the officers and directors of the Company.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Committees
of our board of directors</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
currently have three committees of our Board of Directors.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-</b></span></td>
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    Committee</b> - This committee will review the financial statements of the Company and propose to the board to approve the financial
    statements. The Committee meets quarterly to review and approve the quarterly financial statements and to discuss the affairs of
    the company with the auditors. </span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company&#8217;s audit committee has the overall duties and responsibilities to:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">review
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">assist
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">strengthen
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">evaluate
    the independent auditor&#8217;s qualifications, performance and independence;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">facilitate
    the independence of the independent auditor;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">assess
    the processes relating to the determination and mitigation of risks and the maintenance of an effective control environment; and;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">review
    the processes to monitor compliance with laws and regulations.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Governance
    Committee</b> - This committee reviews the ethics policy of the Company and ensures compliance. It will make recommendations to the
    board for improvement in Corporate Governance. In addition, it will be this committee to whom a whistle blower will report.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
duties and responsibilities of the Corporate Governance Committee include, without limitation, the following:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Develop
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    and administer this process.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Review
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  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">i.
the size of the Board;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ii.
the number and content of meetings;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">iii.
the annual schedule of issues to be presented to the Board at its meetings or those of its committees;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">iv.
material which is to be provided to the directors generally and with respect to the meetings of the Board or its committees;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">v.
resources available to the directors; and</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">vi.
the communication process between the Board and management.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Evaluate
    and make recommendations to the Board concerning the appointment of directors to the committees and the selection of Board committee
    chairs;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Annually
    evaluate and report to the Board on the performance and effectiveness of the Board and its committees;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Annually,
    in conjunction with the Chief Executive Officer, evaluate the performance of the Company&#8217;s management (other than the Chief
    Executive Officer). Conduct an annual review of succession planning and report its findings and recommendations to the Board;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Evaluate
    and lead the Board&#8217;s annual review of the Chief Executive Officer&#8217;s performance; and</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Annually
    review and evaluate its performance.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>-</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Compensation
    Committee</b> - This committee will propose the appointment and remuneration of the Chief Executive Officer including salary, stock
    options, and bonuses.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
duties and responsibilities of the Compensation Committee include, without limitation, the following:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">to
    recommend to the Board compensation policies and guidelines for the Company; and</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">to
    review and approve corporate goals and objectives relevant to the compensation of the Chief Executive Officer and, in light of those
    goals and objectives, to recommend to the Board the annual salary, bonus and other benefits, direct and indirect, of the Chief Executive
    Officer and to approve compensation for all other designated officers of the Company, after considering the recommendations of the
    Chief Executive Officer, all within the human resources and compensation policies and guidelines approved by the Board.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>D.
Employees</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2023, we had 43 employees, consultants, and independent contractors throughout the world including twenty full-time employees
in Canada and Israel. Since 2006 it has been, and continues to be, the Company&#8217;s objective to control its costs by retaining consultants,
as needed, to provide special expertise in developing internal strategic, marketing, accounting, and technical services. None of our
employees or consultants are represented by a labor union, and we believe that our relationship with our employees and consultants is
good.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are substantially dependent upon the continued services and performance of J. M. Williams, Chief Executive Officer; Eldad Ben Tora, President
&amp; General Manager EMEA and T. M. Williams, Chairman. The loss of the services of these key individuals would have a material adverse
effect on our business, financial condition, and results of operations. We do not carry any key man life insurance on any individuals.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>E.
Share ownership. </b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">See
&#8220;Item 7&#8212;Major Shareholders and Related Party Transactions&#8212;Major Shareholders.&#8221;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


<!-- Field: Page; Sequence: 28 -->
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    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>F.
Disclosure of a Registrant&#8217;s Action to Recover Erroneously Awarded Compensation</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
applicable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="aj_012"></span>ITEM 7.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS</b></span></p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>A.
Major Shareholders</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table sets forth certain information known to us with respect to beneficial ownership of our common stock as of April 25, 2024,
by:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">each
    person known by us to beneficially own 5% or more of our outstanding common stock;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">each
    of our directors; </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">each
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">all
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  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
general, a person is deemed to be a &#8220;beneficial owner&#8221; of a security if that person has or shares the power to vote or direct
the voting of such security, or the power to dispose or direct the disposition of such security. In computing the number of shares beneficially
owned by a person and the percentage ownership of that person, shares of common stock subject to options or debentures held by that person
that are currently exercisable or convertible or exercisable or convertible within 60 days of April 25, 2024, are deemed outstanding.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Percentage
of beneficial ownership is based upon 131,304,499 shares of common stock outstanding at April 25, 2024. To our knowledge, except as set
forth in the footnotes to this table and subject to applicable community property laws, each person named in the table has sole voting
and investment power with respect to the shares set forth opposite such person&#8217;s name.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold">Name and Address of Beneficial Owner</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Number of Shares <br/>
Beneficially Owned</td>
    <td style="text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Percent of Class</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td>
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    <td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">431,250</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td>
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    <td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">1,226,080</td>
    <td style="text-align: left">(8)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">0.87</td><td style="text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">All directors and Named Executive Officers as a group (8 persons)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">28,728,802</td>
    <td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">20.34</td><td style="text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Pendinas Limited (Isle of Man)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">27,839,464</td>
    <td style="text-align: left">(9)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">19.65</td><td style="text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Wydler Global Equity Fund (Switzerland)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">12,200,000</td>
    <td style="text-align: left">(10)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">8.61</td><td style="text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Ordan Enterprises Ltd. (Israel)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">8,670,808</td>
    <td style="text-align: left">(11)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">6.12</td><td style="text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1.5pt">Norma Investment Ltd. (Cypress)</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">7,700,752</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">(12)</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">5.43</td><td style="padding-bottom: 1.5pt; text-align: left">%</td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes
    16,515,316 shares held directly by Mr. T. M. Williams and 50,000 shares of common stock that may be issued upon the exercise of 50,000
    stock purchase options with an exercise price of CAD$0.45 (approximately US$0.33) per share and 200,000 shares of common stock that
    may be issued upon the exercise of 200,000 stock purchase options with an exercise price of CAD$0.50 (approximately US$0.39) per
    share and 50,000 shares of common stock that may be issued upon the exercise of 50,000 stock purchase options with an exercise price
    of CAD$1.02 (approximately US$0.81) per share and 50,000 shares of common stock that may be issued upon the exercise of 50,000 stock
    purchase options with an exercise price of CAD$0.30 (approximately US$0.22) per share and 168,750 shares of common stock that may
    be issued upon the exercise of 168,750 stock purchase options with an exercise price of CAD$0.20 (approximately US$0.15) per share.
    </span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes,
    908,200 shares held directly by Mr. J. M. 50,000 shares of common stock that may be issued upon the exercise of 50,000 stock purchase
    options with an exercise price of CAD$0.45 (approximately US$0.33) per share and 200,000 shares of common stock that may be issued
    upon the exercise of 200,000 stock purchase options with an exercise price of CAD$0.50 (approximately US$0.39) per share and 50,000
    shares of common stock that may be issued upon the exercise of 50,000 stock purchase options with an exercise price of CAD$1.02 (approximately
    US$0.81) per share and 50,000 shares of common stock that may be issued upon the exercise of 50,000 stock purchase options with an
    exercise price of CAD$0.30 (approximately US$0.22) per share and 168,750 shares of common stock that may be issued upon the exercise
    of 168,750 stock purchase options with an exercise price of CAD$0.20 (approximately US$0.15) per share. </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes
    5,214,965 shares held directly by Mr. E. Ben Tora and 350,000 shares of common stock that may be issued upon the exercise of 350,000
    stock purchase options with an exercise price of CAD$0.45 (approximately US$0.33) per share and 100,000 shares of common stock that
    may be issued upon the exercise of 100,000 stock purchase options with an exercise price of CAD$0.50 (approximately US$0.39) per
    share and 50,000 shares of common stock that may be issued upon the exercise of 50,000 stock purchase options with an exercise price
    of CAD$1.02 (approximately US$0.81) per share and 50,000 shares of common stock that may be issued upon the exercise of 50,000 stock
    purchase options with an exercise price of CAD$0.30 (approximately US$0.22) per share and 25,000 shares of common stock that may
    be issued upon the exercise of 25,000 stock purchase options with an exercise price of CAD$0.20 (approximately US$0.15) per share.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes
    50,000 shares held directly by Ms. F. Curtis and 200,000 shares of common stock that may be issued upon the exercise of 200,000 stock
    purchase options with an exercise price of CAD$0.50 (approximately US$0.39) per share and 50,000 shares of common stock that may
    be issued upon the exercise of 50,000 stock purchase options with an exercise price of CAD$1.02 (approximately US$0.81) per share
    and 50,000 shares of common stock that may be issued upon the exercise of 50,000 stock purchase options with an exercise price of
    CAD$0.30 (approximately US$0.22) per share and 168,750 shares of common stock that may be issued upon the exercise of 168,750 stock
    purchase options with an exercise price of CAD$0.20 (approximately US$0.15) per share.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes
    100,000 shares of common stock that may be issued upon the exercise of 100,000 stock purchase options with an exercise price of CAD$0.50
    (approximately US$0.39) per share and 50,000 shares of common stock that may be issued upon the exercise of 50,000 stock purchase
    options with an exercise price of CAD$1.02 (approximately US$0.81) per share and 50,000 shares of common stock that may be issued
    upon the exercise of 50,000 stock purchase options with an exercise price of CAD$0.30 (approximately US$0.22) per share and 231,250
    shares of common stock that may be issued upon the exercise of 231,250 stock purchase options with an exercise price of CAD$0.20
    (approximately US$0.15) per share..</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(6)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes
    543,379 shares held indirectly by Mr. M. David and 339,612 shares indirectly by a Company owned by Mr. M. David and 300,000 shares
    of common stock that may be issued upon the exercise of 300,000 stock purchase options with an exercise price of CAD$0.45 (approximately
    US$0.33) per share and 100,000 shares of common stock that may be issued upon the exercise of 100,000 stock purchase options with
    an exercise price of CAD$0.50 (approximately US$0.39) per share and 50,000 shares of common stock that may be issued upon the exercise
    of 50,000 stock purchase options with an exercise price of CAD$1.02 (approximately US$0.81) per share and 50,000 shares of common
    stock that may be issued upon the exercise of 50,000 stock purchase options with an exercise price of CAD$0.30 (approximately US$0.22)
    per share and 25,000 shares of common stock that may be issued upon the exercise of 25,000 stock purchase options with an exercise
    price of CAD$0.20 (approximately US$0.15) per share.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(7)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes,
    375,000 shares held directly by Mr. H. W. Bromley and 50,000 shares of common stock that may be issued upon the exercise of 50,000
    stock purchase options with an exercise price of CAD$0.45 (approximately US$0.33) per share and 200,000 shares of common stock that
    may be issued upon the exercise of 200,000 stock purchase options with an exercise price of CAD$0.50 (approximately US$0.39) per
    share and 50,000 shares of common stock that may be issued upon the exercise of 50,000 stock purchase options with an exercise price
    of CAD$1.02 (approximately US$0.81) per share and 50,000 shares of common stock that may be issued upon the exercise of 50,000 stock
    purchase options with an exercise price of CAD$0.30 (approximately US$0.22) per share and 168,750 shares of common stock that may
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  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(8)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes,
    676,080 shares held directly by Mr. T. H. Williams and 150,000 shares of common stock that may be issued upon the exercise of 150,000
    stock purchase options with an exercise price of CAD$0.45 (approximately US$0.33) per share and 200,000 shares of common stock that
    may be issued upon the exercise of 200,000 stock purchase options with an exercise price of CAD$0.50 (approximately US$0.39) per
    share and 50,000 shares of common stock that may be issued upon the exercise of 50,000 stock purchase options with an exercise price
    of CAD$1.02 (approximately US$0.81) per share and 50,000 shares of common stock that may be issued upon the exercise of 50,000 stock
    purchase options with an exercise price of CAD$0.30 (approximately US$0.22) per share and 100,000 shares of common stock that may
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(9)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes
    27,839,464 shares held directly by Pendinas Ltd., a company wholly owned by Mr. G. R. Williams. Mr. G. R. Williams is not related
    to Mr. T. M. Williams, Mr. J. M. Williams nor Mr. T. H. Williams.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(10)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(11)</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(12)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes
    7,700,752 shares held directly by Norma Investment Limited.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>B.
Related Party Transactions</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
at and for the year ended December 31, 2023, the Company has the following related party transactions:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 95%; margin-left: 0.25in">
  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2023</td><td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2022</td><td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 10pt; width: 46%; text-align: justify">Directors fees</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">7,505</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">8,970</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">8,000</td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 10pt; text-align: justify">Salaries, wages, consultants and benefits</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">667,229</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">659,558</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">612,492</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 10pt; text-align: justify">Selling and marketing</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">70,439</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">126,920</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">77,906</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 10pt; text-align: justify">Stock-based compensation (Note 10)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">188,961</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">276,207</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">237,348</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 10pt; text-align: justify; padding-bottom: 1.5pt">Software technology development (Note 8)</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">248,780</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">246,016</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">214,843</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify; padding-bottom: 1.5pt">Closing balance for the year</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,182,914</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,317,671</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,150,589</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company has liabilities of $79,852 (2022 - $80,874) as at December 31, 2023, to current directors, officers and companies owned by the
current directors and officers of the Company for employment, director and consulting fees.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2023, the Company granted 400,000 options with an exercise price of CAD$0.30 ($0.22) per share to current
directors and officers of the Company. Subsequent to the year ended December 31, 2023, the Company granted 1,056,250 options with an
exercise price of CAD$0.20 ($0.14) to current directors and officers of the Company.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2022, the Company granted 900,000 options with an exercise price of CAD$0.50 ($0.39) per share to current
directors and officers of the Company.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2021, the Company granted the following options to related parties:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">400,000
    options with an exercise price of CAD$0.50 ($0.39) per share</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">b)
    </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">400,000
    options with an exercise price of CAD$1.02 ($0.80) per share</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 49.5pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
related party transactions are in the normal course of operations and were granted at the exchange amount, which is the amount of consideration
established and agreed to by the related parties.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>C.
Interests of Experts and Counsel</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
applicable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="aj_013"></span>ITEM 8.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FINANCIAL INFORMATION</b></span></p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>A.
Consolidated Statements and Other Financial Information</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company&#8217;s financial statements are stated in United States dollars and are prepared in accordance with US GAAP.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Please
see &#8220;Item 18&#8212;Financial Statements&#8221; below for additional information required to be disclosed under this item.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Legal
Proceedings</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are not currently a party to any legal proceedings and were not a party to any other legal proceeding, during the fiscal year ended December
31, 2023. We are currently not aware of any legal proceedings proposed to be initiated against us. However, from time-to-time, we may
become subject to claims and litigation generally associated with any business venture.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Dividend
Policy</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
do not anticipate declaring or paying any cash dividends to holders of our common stock in the near term. We currently intend to retain
future earnings, if any, to finance the growth of our business. We may, however, adopt in the future a policy to make cash dividends.
Our future dividend policy is within the discretion of our board of directors. Any determination to pay or not pay cash dividends will
depend upon then-existing conditions, including our results of operations, financial condition, capital requirements, investment opportunities,
statutory and contractual restrictions on our ability to pay dividends and other factors our board of directors may deem relevant.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>B.
Significant Changes</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
applicable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="aj_014"></span>ITEM 9.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>THE OFFER AND LISTING</b></span></p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>A.
Offer and Listing Details</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
common shares are currently quoted on the TSX Venture Exchange in Canada under the symbol &#8220;KIDZ&#8221;. Our shares continue to
be quoted on the OTC under the symbol &#8220;KDOZF&#8221;.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>B.
Plan of distribution</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
applicable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>C.
Markets</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
common shares are currently quoted on the TSX Venture Exchange in Canada under the symbol &#8220;KIDZ&#8221;. Our shares continue to
be quoted on the OTC under the symbol &#8220;KDOZF&#8221;.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>D.
Selling shareholders</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
applicable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>E.
Dilution</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
applicable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>F.
Expenses of the issue</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
applicable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><b><span id="aj_015"></span>ITEM 10.</b> <b>ADDITIONAL INFORMATION</b></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>A.
Share Capital</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
applicable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>B.
Memorandum and Articles of Association</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
information required to be disclosed under this item is incorporated by reference to Exhibit 1.1 filed January 4, 2023, for the updated
bylaws and memorandum and articles of association for the Company as a result of its continuation into Canada effective January 1, 2023.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit
1.2 contains the Certificate of Continuance into Canada.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>C.
Material Contracts</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company has Management Services Agreements with its Chairman and Chief Financial Officer and are included as Exhibits 10.37 to 10.39.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>D.
Exchange Controls</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There
are no government laws, decrees or regulations in Anguilla or Canada which restrict the export or import of capital, or which affect
the remittance of dividends, interest, or other payments to non-resident holders of the Company&#8217;s common shares.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>E.
Taxation</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Effective
January 1, 2023, continued out of Anguilla and into Canada and became a Canadian taxpayer.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following subsidiaries pay taxes:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kidoz
    Ltd. This is an Israeli Company. The Israeli corporate tax rate has been 12%. During the year ended December 31, 2023, our Israeli
    subsidiary was officially recognized as a Preferred Technology Enterprise in Israel, a prestigious status that comes with extensive
    tax relief benefits as provided by law and applied to the fiscal 2022 tax year.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shoal
    Media (Canada) Inc. This is an Canadian Company. The Canadian corporate tax rate has been 23%</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    remaining subsidiaries are not profitable and therefore have an assessed taxation loss.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There
are the following taxation effects for our shareholders subsequent to continuation of the Company into Canada.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Canadian
Federal Income Tax Consequences</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following summarizes the principal Canadian federal income tax consequences applicable to the holding and disposition of common shares
in the capital of the Company by a non Canadian residents, and who holds common shares solely as capital property. This summary is based
on the current provisions of the Income Tax Act (Canada), referred to as the &#8220;Tax Act&#8221;, the regulations thereunder, all amendments
thereto publicly proposed by the government of Canada, the published administrative practices of Revenue Canada, Customs, Excise and
Taxation, and the current provisions of the Canada-United States Income Tax Convention, 1980, as amended, referred to as the &#8220;Treaty&#8221;.
Except as otherwise expressly provided, this summary does not take into account any provincial, territorial or foreign (including without
limitation, any United States) tax law or treaty. It has been assumed that all currently proposed amendments will be enacted substantially
as proposed and that there is no other relevant change in any governing law or practice, although no assurance can be given in theses
respects.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
non Canadian shareholder is advised to obtain tax and legal advice applicable to such their particular circumstances.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Every
non-Canadian shareholder is liable to pay a Canadian withholding tax on every dividend that is or is deemed to be paid or credited to
the non-Canadian shareholder on the non-Canadian shareholder common shares. The statutory rate of withholding tax is 25% of the gross
amount of the dividend paid. There are treaties which reduces the statutory rate with respect to dividends paid to a non-Canadian shareholder
for the purposes of the treaties. Where applicable, the general rate of withholding tax under the treaties is 15% of the gross amount
of the dividend. The Company is required to withhold the applicable tax from the dividend payable to the non-Canadian shareholder, and
to remit the tax to the Receiver General of Canada for the account of the non-Canadian shareholder.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant
to the Tax Act, a non-Canadian shareholder will not be subject to Canadian capital gains tax on any capital gain realized on an actual
or deemed disposition of a common share, including a deemed disposition on death, provided that the non-Canadian shareholder did not
hold the common share as capital property used in carrying on a business in Canada, and that neither the non-Canadian shareholder nor
persons with whom the non-Canadian shareholder did not deal at arms-length (alone or together) owned or had the right or an option to
acquire 25% or more of the issued shares of any class of the Company at any time in the five years immediately preceding the disposition.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>F.
Dividends and paying agents.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
applicable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>G.
Statement by experts. </b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
applicable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>H.
Documents on display </b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are subject to certain of the reporting requirements of the Exchange Act, as applicable to &#8220;foreign private issuers&#8221; as defined
in Rule 3b-4 under the Exchange Act. As a foreign private issuer, we are exempt from certain provisions of the Exchange Act. Accordingly,
our proxy solicitations are not subject to the disclosure and procedural requirements of Regulation 14A under the Exchange Act, and transactions
in our equity securities by our officers and directors are exempt from reporting and the &#8220;short-swing&#8221; profit recovery provisions
contained in Section 16 of the Exchange Act. In addition, we are not required under the Exchange Act to file periodic reports and financial
statements as frequently or as promptly as U.S. companies whose securities are registered under the Exchange Act. However, we file with
the Securities and Exchange Commission an annual report on Form 20-F containing financial statements audited by an independent accounting
firm. We also submit to the Securities and Exchange Commission reports on Form 6-K containing (among other things) press releases and
unaudited financial information. We post our annual report on Form 20-F on our website (www.kidoz.net) promptly following the filing
of our annual report with the Securities and Exchange Commission. The information on our website is not incorporated by reference into
this annual report.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any
statement in this Report about any of our contracts or other documents is not necessarily complete. If the contract or document is filed
as an exhibit to this report or any of our annual reports or to a registration statement or other documents filed by us, the contract
or document is deemed to modify the description contained in this Report. You must review the exhibits themselves for a complete description
of the contract or document. In the event any of the documents that are filed as exhibits to our annual reports are not in English, the
original language version is on file in our offices and is available upon request.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company makes available through the Corporate Kidoz Inc. section of its internet website at http://investor.kidoz.net its annual report
on Form 20-F, quarterly reports on Form 6-K, current reports on Form 6-K, Press Releases, Research Reports, and amendments to those reports
filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act, as soon as reasonably practicable after electronically filing
such material with the Securities and Exchange Commission.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">You
may read and copy any reports, statements, or other information that we file with TSX Venture exchange on SEDAR. The address of this
Internet site is http://www.sedar.com.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, we file with the Securities and Exchange Commission at the Securities and Exchange Commission&#8217;s Public Reference Room
at 100 F Street, N.E., Washington D.C. 20549. You can request copies of these documents, upon payment of a duplicating fee, by writing
to the Securities and Exchange Commission. Please call the Securities and Exchange Commission at 1-800-SEC-0330 for further information
on the operation of the Public Reference Room.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
file our reports with the Securities and Exchange Commission electronically through the Securities and Exchange Commission&#8217;s Electronic
Data Gathering, Analysis and Retrieval (&#8220;EDGAR&#8221;) system. The Securities and Exchange Commission maintains an Internet site
that contains reports, proxy and information statements, and other information regarding companies that file electronically with the
Securities and Exchange Commission through EDGAR. The address of this Internet site is http://www.sec.gov.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>I.
Subsidiary Information </b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 49.5pt; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
applicable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>J.
Annual Report to Security Holders </b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
held our Annual Meeting of Stockholders in Anguilla on November 30, 2023. The Annual Meeting was for the purposes of electing to set
the number of directors to be 6; electing our directors; and to ratify the appointment of Davidson &amp; Company LLP, Chartered Professional
Accountants, as our independent auditors for the 2023 fiscal year; to ratify our Rolling Stock Option plan as amended by inclusion of
an Israeli Taxpayers Appendix thereto; and for any other regular business. The Company issued a schedule 14A proxy statement to the shareholders
on October 5, 2023.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
nominees for directors were elected; the appointment of auditors was ratified; and the Rolling Stock Option plan as amended by inclusion
of an Israeli Taxpayers Appendix thereto was ratified. The voting on each matter is set forth below:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)
Elected to set the number of directors to be 6.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%">
  <tr style="vertical-align: bottom">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)
Elected the following persons to serve as directors until the next annual meeting or until their successors are duly qualified:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">T.
M. Williams</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">J.
M. Williams</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">E.
Ben Tora</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">F.
Curtis (Non-Executive Director)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">C.
Kalborg (Non-Executive Director)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">M.
David (Non-Executive Director)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Election
of the Directors of the Company. </span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%">
  <tr style="vertical-align: bottom">
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">NOMINEE</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Mr. E. Ben Tora</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">8,950</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">957,452</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Ms. F. Curtis</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Mr. C. Kalborg</td><td>&#160;</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)
Approved the selection of Davidson &amp; Company LLP, Chartered Professional Accountants as the Company&#8217;s independent auditors
for the fiscal year ending December 31, 2023.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%">
  <tr style="vertical-align: bottom">
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">FOR</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">WITHHOLD</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td style="text-align: center; padding-bottom: 1.5pt">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 1%; text-align: center">&#160;</td><td style="width: 30%; text-align: center">48,294,809</td><td style="width: 1%; text-align: center">&#160;</td><td style="text-align: center; width: 2%">&#160;</td>
    <td style="width: 1%; text-align: center">&#160;</td><td style="width: 30%; text-align: center">16,629</td><td style="width: 1%; text-align: center">&#160;</td><td style="text-align: center; width: 2%">&#160;</td>
    <td style="text-align: center; width: 1%">&#160;</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)
The ratification of the existing 2015, 10% Rolling Stock Option plan, as amended by inclusion of an Israeli Taxpayers Appendix thereto,
as more particularly set out in Schedule B to the Proxy Statement was approved.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%">
  <tr style="vertical-align: bottom">
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">FOR</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td style="width: 1%; text-align: center">&#160;</td><td style="width: 30%; text-align: center">46,304,936</td><td style="width: 1%; text-align: center">&#160;</td><td style="text-align: center; width: 2%">&#160;</td>
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    <td style="width: 1%; text-align: center">&#160;</td><td style="width: 30%; text-align: center">957,452</td><td style="width: 1%; text-align: center">&#160;</td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subsequent
to their appointment the Board of Directors ratified the continuation of Mr. Jason Williams as CEO of the Kidoz Inc. organization and
Mr. T. M. Williams, will continue to serve as Chairman.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="aj_016"></span>ITEM 11.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK</b></span></p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company is exposed to various financial risks resulting from both its operations. The Company does not enter into financial instrument
agreements including derivative financial instruments for speculative purposes. The fair values of the Company&#8217;s financial instruments
approximate the carrying values, due to their short terms to maturity or attached market rates of interest. The Company is exposed to
various risks related to its financial instruments as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Market
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    Company has exposure to foreign exchange risk which is the risk that the fair value or future cash flows of a financial instrument
    will fluctuate because of changes in foreign exchange rates. Foreign exchange risk arises when future commercial transactions and
    recognized assets and liabilities are denominated in a currency that is not the Company&#8217;s functional currency. The Company
    has not entered into foreign exchange purchase contracts to manage its foreign exchange risk, because, in management&#8217;s view,
    the cost of setting up the contracts is in excess of the risks associated with a sudden change in the exchange rates. Management
    continually monitors the exchange rates and will enter into risk prevention measures when warranted. The Company is also exposed
    to foreign exchange risk on its cash, accounts receivable and accounts payable balances that are mostly denominated in U.S. dollars
    and Euros, whereas our employment and consulting costs are mostly denominated in Israeli Shekels, British Pounds, Canadian Dollars,
    and US Dollars. </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Credit
    Risk</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Credit
    risk is the risk that one party to a financial instrument will cause a financial loss for the other party by failing to discharge
    an obligation. The Company is subject to credit risk with respect to cash and accounts receivable. The Company&#8217;s maximum exposure
    to credit risk at the end of the reporting period is the carrying value of these assets. Credit risk is managed through a credit
    approval process and monitoring procedures, and there are no expected credit losses.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
    cash balances are held at a major banking institutions in Israel, United Kingdom and Canada and management believes the risk of loss
    to be remote.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iv)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liquidity
    risk</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liquidity
    risk is the risk that arises when the maturity of assets and the maturity of liabilities do not match. An unmatched position potentially
    enhances profitability but can also increase the risk of loss. The Company&#8217;s liquidity needs can be met through a variety of
    sources. The Company generates cash from operations, and in the past by issuances of common shares. The Company manages liquidity
    risk by maintaining sufficient cash balances to meet liabilities when due and by continuously monitoring actual and forecast cash
    flows.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="aj_017"></span>ITEM 12: </b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES</b></span></p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Stock
Option Plans</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
the year ended December 31, 2015, the 1999, 2001 and 2005 Stock Option Plans were discontinued and replaced with the 2015 Stock Option
Plan.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Board of Directors administers the 2015 Stock Option Plan. Our Board is authorized to construe and interpret the provisions of the Stock
Option Plans, to select employees, directors, and consultants to whom options will be granted, to determine the terms and conditions
of options and, with the consent of the grantee, to amend the terms of any outstanding options. The 2015 Stock Option Plan provides for
the granting of stock options to the employees, directors, advisors, and consultants of the Corporation to encourage proprietary interest
in the Corporation, to encourage such employees to remain in the employ of the Corporation or such directors, advisors and consultants
to remain in the service of the Corporation, and to attract new employees, directors, advisors and consultants with outstanding qualifications.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Board determines the terms and provisions of each option granted under the Stock Option Plans, including the exercise price, vesting
schedule, repurchase provisions, rights of first refusal and form of payment. The Plan shall not exceed 10% of the number of Shares of
the Company issued and outstanding as of each Award Date, inclusive of all Shares presently reserved for issuance pursuant to previously
granted stock options, unless shareholder approval is obtained in advance. The Exercise Price shall be that price per Share, as determined
by the Board in its sole discretion, and announced as of the Award Date, at which an Option Holder may purchase a Share upon the exercise
of an Option, provided that it shall not be less than the closing price of the Company&#8217;s Shares traded through the facilities of
the Exchange on the day preceding the Award Date, less any discount permitted by the Exchange, or such other price as may be required
or permitted by the Exchange.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
term of options under the Stock Option Plans will be determined by our Board; however, the term of the stock option may not be for more
than ten years. Where the award agreement permits the exercise of an option for a period of time following the recipient&#8217;s termination
of service with us, disability, or death, that option will terminate to the extent not exercised or purchased on the last day of the
specified period or the last day of the original term of the option, whichever occurs first.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
a third party acquires the Company through the purchase of all or substantially all of our assets, a merger or other business combination,
except as otherwise provided in an individual award agreement, all unexercised options will terminate unless assumed by the successor
corporation.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2023, the Company granted 1,885,000 options to employees and consultants with an exercise price of CAD$0.30
($0.23) where 2% vests per month. 400,000 of these options were granted to directors and officers of the Company.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2023, there were nil (2022 &#8211; nil) options exercised and 460,000 (2022 &#8211; 285,600) options cancelled
and 1,988,000 (2022 &#8211; 506,150) options expired unexercised.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2022, the Company granted 2,550,000 options to employees and consultants with an exercise price of CAD$0.50
($0.37) where 2% vests per month. 900,000 of these options were granted to directors and officers of the Company.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2022, 285,600 options were cancelled, and 506,150 options expired unexercised.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subsequent
to the year ended December 31, 2023, 2,318,750 options were granted to employees and consultants with an exercise price of CAD$0.20 ($0.14)
where 2% vests per month. 1,056,250 options of these options were granted to directors and officers of the Company.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Warrants</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company granted 230,000 common share purchase warrants to Research Capital Corporation (&#8220;RCC&#8221;) in the year ended December
31, 2022. Each warrant will entitle the holder thereof to purchase one common share in the capital of the Company at an exercise price
of $0.77 (CAD$0.98) at any time up to 24 months following the date of issuance and expired unexercised on April 1, 2023.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="sw_001"></span>PART
II</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="sw_002"></span>ITEM 13:</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES</b></span></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
Applicable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="sw_003"></span>ITEM
14: MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
applicable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="sw_004"></span>ITEM
15: CONTROLS AND PROCEDURES</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(a) Disclosure Controls and Procedures</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Chairman, Chief Executive Officer and Chief Financial Officer, after evaluating the effectiveness of our disclosure controls and procedures
(as defined in Rules 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934, as amended) as of the end of the period covered
by this report, have concluded that, as of such date, our disclosure controls and procedures were effective to ensure that the information
required in the reports that we file or submit under the Securities Exchange Act of 1934, as amended, is recorded, processed, summarized
and reported, within the time periods specified in the SEC&#8217;s rules and forms, and such information is accumulated and communicated
to our management, including our chief executive officer and chief financial officer, as appropriate to allow timely decisions regarding
required disclosure.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(b) Management&#8217;s Annual Report on Internal Control over Financial Reporting</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
management, including the Chairman, Chief Executive Officer, and the Chief Financial Officer, is responsible for establishing and maintaining
adequate internal control over financial reporting. Internal control over financial reporting is defined in Rule 13a-15(f) promulgated
under the Securities Exchange Act of 1934, as amended, as a process designed to provide reasonable assurance regarding the reliability
of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Because
of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Projections of any evaluation
of effectiveness to future periods are subject to the risk that the controls may become inadequate because of changes in conditions,
or that the degree of compliance with the policies or procedures may deteriorate.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
management evaluated of the effectiveness of the Company&#8217;s design and operation of its disclosure controls and procedures as defined
in Exchange Act Rule 13a-15(f), based on the framework set forth in the Internal Control&#8212;Integrated Framework (1992) issued by
the by the Committee of Sponsoring Organizations of the Treadway Commission (&#8220;COSO&#8221;). Based on our evaluation, we believe
that, as of December 31, 2023, the Company&#8217;s internal control over financial reporting is effective under the COSO framework.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(c) Attestation report of the registered public accounting firm.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
Form 20-F Annual Report does not include an attestation report of the Company&#8217;s registered public accounting firm regarding internal
control over financial reporting. Management&#8217;s report was not subject to attestation by the Company&#8217;s registered public accounting
firm pursuant to rules of the Securities and Exchange Commission that permit the Company to provide only management&#8217;s report in
this Form 20-F Annual Report.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(d) Changes in internal control over financial reporting</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There
were no changes in our internal control over financial reporting that occurred during the year ended December 31, 2023, that have materially
affected, or are reasonably likely to materially affect, our internal control over financial reporting.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="sw_005"></span>ITEM 16.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>[RESERVED]</b></span></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ITEM 16A.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="sw_006"></span>AUDIT COMMITTEE FINANCIAL EXPERT</b></span></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company does not have an audit committee financial expert serving on its audit committee. Each of the Company&#8217;s directors serving
on the audit committee is financially literate and is able to professionally discharge the duties incumbent upon audit committee members.
However, none of the audit committee members are &#8220;financial experts&#8221;. At such time as the Company may secure a project and
is able to raise the significant funds necessary to exploit the opportunity, the Company will make a concerted effort to identify and
appoint a financial expert to its audit committee.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="sw_007"></span>ITEM 16B.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CODE OF ETHICS</b></span></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have adopted a Code of Business Conduct and Ethics that applies to all entities controlled by the Company and its employees, directors,
officers, and agents of the Company. We will provide any person, free of charge, a copy of our Code of Business Conduct and Ethics upon
written request to our principal executive office.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="sw_008"></span>ITEM 16C.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>PRINCIPAL ACCOUNTANT FEES AND SERVICES</b></span></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2023, the Company incurred fees of $105,104 (2022 - $129,946) from the principal accountant during fiscal
2023 - Davidson &amp; Company LLP, $105,104 of these fees related to audit fees (2022 - $129,946).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Audit Committee reviewed the audit and non-audit services rendered by Davidson &amp; Company LLP, during the periods set forth above
and concluded that such services were compatible with maintaining the auditors&#8217; independence. All audit and non-audit services
performed by our independent accountants are pre-approved by our Audit Committee to assure that such services do not impair the auditors&#8217;
independence from us.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="sw_009"></span>ITEM 16D.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES.</b></span></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
applicable</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="sw_010"></span>ITEM 16E:</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>PURCHASE OF EQUITY SECURITIES BY THE COMPANY AND AFFILIATED PURCHASERS</b></span></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2022, the Company filed a Notice of Intention to Make a Normal Course Issuer Bid (the &#8220;Notice of Intention&#8221;)
with the TSX Venture Exchange (&#8220;TSX-V&#8221;) on September 15, 2022. Upon receiving approval from the TSX-V, effective September
16, 2022, the Company commenced a normal course issuer bid (&#8220;NCIB&#8221;), whereby the Company may purchase for cancellation up
to 6,579,074 shares, being 5% of the issued and outstanding shares as of such date. Any purchases under the NCIB will be made on the
open market through the facilities of the TSX-V or alternative Canadian trading systems. Purchases will be made at market prices of the
shares at the time of acquisition.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchases
under the NCIB may commence as of September 16, 2022, and will end on the earlier of: (i) September 14, 2023; or (ii) the date on which
the Company has purchased the maximum number of shares to be acquired under the NCIB. The Company may terminate the NCIB earlier if it
feels it is appropriate to do so.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
normal course issuer bid will be conducted through Kidoz Inc&#8217;s broker Research Capital Corporation. The purchase and payment of
the common shares will be made in accordance with the requirements of the TSX-V and applicable securities laws. The actual number of
common shares purchased, timing of purchases and share price will depend upon market conditions at the time and securities law requirements.
All common shares acquired will be returned to treasury and cancelled.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
purchase of and payment for the shares will be made in accordance with the requirements of the TSX-V and applicable securities laws.
The actual number of shares purchased, timing of purchases and share price will depend upon market conditions at the time and securities
law requirements. All shares acquired pursuant to the NCIB will be returned to treasury and cancelled.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2023, 41,500 shares which were acquired during the year ended December 31, 2022, pursuant to the NCIB in
effect, at an aggregate cost of $11,793, were cancelled.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2023, 2,000 shares were acquired pursuant to the NCIB in effect, at an aggregate cost of $517. During the
year ended December 31, 2023, 2,000 shares were cancelled.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2022, 275,000 shares were acquired pursuant to the NCIB in effect, at an aggregate cost of $87,778. During
the year ended December 31, 2022, 233,500 shares were cancelled.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ITEM 16F:</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="sw_011"></span>CHANGE IN REGISTRANT&#8217;S CERTIFYING ACCOUNTANTS</b></span></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
Applicable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ITEM 16G:</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="sw_012"></span>CORPORATE GOVERNANCE</b></span></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are organized under the laws of Canada, and our Common Shares are listed for trading on the TSX Venture Stock Exchange (&#8220;TSX-V&#8221;)
under the symbol &#8220;KIDZ&#8221;. We comply with the applicable laws of Canada and rules and regulations of the TSX-V, including rules
related to corporate governance practices.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>General</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Corporate
governance refers to the policies and structure of the board of directors of a company whose members are elected by and are accountable
to the shareholders of the Company. Corporate governance encourages establishing a reasonable degree of independence of the board of
directors from executive management and the adoption of policies to ensure the board of directors recognizes the principles of good management.
The Board of the Company is committed to sound corporate governance practices, as such practices are both in the interests of shareholders
and help to contribute to effective and efficient decision-making.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Board
of Directors</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Directors
are considered to be independent if they have no direct or indirect material relationship with the Company. A &#8220;material relationship&#8221;
is a relationship which could, in the view of the Company&#8217;s Board, be reasonably expected to interfere with the exercise of a director&#8217;s
independent judgment.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
non-independent members of the Board of the Company are as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 2in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tryon
    (Tarrnie) Williams </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.2in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chairman</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jason
    Williams</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">CEO</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Eldad
    Ben Tora</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">President
    &amp; General Manager EMEA</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The
independent, non-executive members of the Board of the Company </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">are
as follows<span style="background-color: white">:</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Claes
Kalborg</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Moshe
David</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fiona
Curtis</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management
has been delegated the responsibility for meeting defined corporate objectives, implementing approved strategic and operating plans,
carrying on the Company&#8217;s business in the ordinary course, managing cash flow, evaluating new business opportunities, recruiting
staff, and complying with applicable regulatory requirements. The board facilitates its independent supervision over management by reviewing
and approving long-term strategic, business and capital plans, material contracts and business transactions, and all debt and equity
financing transactions. Through its audit committee, the Board examines the effectiveness of the Company&#8217;s internal control processes
and management information systems.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Board
Meetings</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company holds regular Board meetings which include presentations by the Company&#8217;s management to give the directors additional insight
into the Company&#8217;s business.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Ethical
Business Conduct</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Board is of the view that the fiduciary duties placed on individual directors by the Company&#8217;s governing corporate legislation
and the common law are sufficient to ensure that the Board operates independently of management and in the best interests of the Company.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Nomination
of Directors</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Board reviews its size each year. It considers the number of directors to recommend to the shareholders for election at the annual meeting
of shareholders, taking into account the number required to carry out the Board&#8217;s duties effectively and to maintain a diversity
of views and experience. Current board members stand for 1 year until re-election at the next board meeting.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">&#160;</p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Assessments</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Board monitors the adequacy of information given to directors, communication between the Board and management and the strategic direction
and processes of the Board and committees. The Board has frequent communications with management and other board members and is regularly
consulted on important Company decisions. In this context, the Board periodically reviews the performance of the Board as a whole, any
standing committees it has appointed, and individual directors, to ensure each is performing effectively.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Quorum</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
quorum of shareholders is present at a meeting of shareholders if the holders of not less than 33 1/3% of the shares entitled to vote
at the meeting are present in person or represented by proxy (including electronically), irrespective of the number of persons actually
present at the meeting.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ITEM 16H.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="sw_013"></span>MINE SAFETY DISCLOSURE</b></span></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
applicable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="sw_014"></span>ITEM 16I.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS</b></span></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
applicable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span id="i16J"></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ITEM 16J.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>INSIDER TRADING POLICIES</b></span></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant
to applicable SEC transition guidance, the disclosure required by this Item 16J will be applicable to the Company for the fiscal year
ending December 31, 2024.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span id="i16k"></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ITEM 16K.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CYBERSECURITY</b></span></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At
Kidoz Inc., cybersecurity risk management is an integral part of our overall enterprise risk management program. Our cybersecurity risk
management program is designed to align with industry practices and provide a framework for handling cybersecurity threats and incidents.
We identify and assess risks from cybersecurity threats as part of our overall risk assessment process. We have implemented certain tools
and processes to aid us in our efforts to identify, assess, prevent, and manage such cybersecurity risks. In addition to our own expertise,
we also collaborate with subject matter specialists, as necessary, to gather insights for identifying and assessing cybersecurity threat
risks, their likelihood and severity, and potential preventative measures and mitigations.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
framework includes steps for (i) assessing the severity of a cybersecurity threat, (ii) identifying the source of a cybersecurity threat,
(iii) implementing cybersecurity countermeasures and mitigation strategies and (iv) informing management of material cybersecurity threats
and incidents.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
cybersecurity team engages as needed our Cyber Security division experts for risk assessment and system enhancements. In addition, our
cybersecurity team is involved in annual training.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Board of Directors has overall oversight responsibility for our risk management and delegates the daily supervision of cybersecurity
issues to our VP Product. Our VP Product reports material cybersecurity incidents to the Chairman and Chief Executive Officer, and if
needed, the Chairman and Chief Executive Officer will report the incident to our Board of Directors to take appropriate and timely measures
in response to the incident.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
management is responsible for identifying, considering, and assessing material cybersecurity risks on an ongoing basis, establishing
processes to ensure that such potential cybersecurity risk exposures are monitored, putting in place appropriate mitigation measures
and maintaining cybersecurity programs. We established our data security management committee (the &#8220;Data Security Management Committee&#8221;)
in 2021, composed of personnel from our cyber-Security division, IT center, and management team, to improve data security. The Data Security
Management Committee is responsible for developing data security protection strategies, plans, and systems and providing required support
and coordinating on major data security incidents. Our cybersecurity programs are under the direction of our VP Product who receives
reports from our cybersecurity team and monitors the prevention, detection, mitigation, and remediation of cybersecurity incidents. Our
VP Product and other dedicated personnel are experienced information systems professionals with many years of experience in maintaining
cybersecurity.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2023, we did not identify any cybersecurity threats that have materially affected or are reasonably likely
to materially affect our business strategy, results of operations, or financial condition. However, despite our efforts, we cannot eliminate
all risks from cybersecurity threats, or provide assurances that we have not experienced an undetected cybersecurity incident. For more
information about these risks, see &#8220;Item 3. Key Information &#8212; 3.D. Risk Factors &#8212; Risks Related to Our Business &#8212;
Breaches of network or information technology security, natural disasters or terrorist attacks could have an adverse effect on our business.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="sw_015"></span>PART
III</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="sw_016"></span>ITEM 17:</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FINANCIAL STATEMENTS</b></span></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
Applicable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="sw_017"></span>ITEM 18:</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FINANCIAL STATEMENTS</b></span></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Financial Statements are included in pages F-1.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="sw_018"></span>ITEM 19.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>EXHIBITS</b></span></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following exhibits are filed as part of this annual report:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>EXHIBIT
LIST</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following instruments are included as exhibits to this Report. Exhibits incorporated by reference are so indicated.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; width: 0.75in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit
    Number</span></td>
    <td style="width: 0.1in">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Description</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.1</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1318482/000149315223000426/ex99-2.htm" style="-sec-extract: exhibit">Kidoz Inc. Bylaws in accordance with Canada Business Corporations Act (a)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1318482/000149315223000426/ex99-3.htm" style="-sec-extract: exhibit">Kidoz Inc. Certificate of Continuance issued by Canada Business Corporations Act (a)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.3</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1318482/000149315223000426/ex99-4.htm" style="-sec-extract: exhibit">Kidoz Inc. Articles of Continuance filed with Canada Business Corporations Act (a)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.4</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1087853/000113031902001249/o08240exv4w4.htm" style="-sec-extract: exhibit">Convertible Debenture between the Company and unrelated parties dated July 2, 2002. (c)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.5</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/1318482/000149315223012960/form20-f.htm" style="-sec-extract: exhibit">Common Stock Purchase Warrant between the Company and unrelated parties dated July 2, 2002. (c)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.2</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/1318482/000149315223012960/form20-f.htm" style="-sec-extract: exhibit">Asset Purchase Agreement by and between Bingo, Inc. and Progressive Lumber, Corp. dated January 18, 1999. (b)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.24</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/1318482/000149315223012960/form20-f.htm" style="-sec-extract: exhibit">Amended Consulting Agreement dated February 28, 2002, between the Company, T.M. Williams (Row), Ltd., and T.M. Williams. (d)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.32</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1318482/000131848206000011/ethics8k.htm" style="-sec-extract: exhibit">Code of Business Conduct and Ethics dated December 22, 2006. (e)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.33</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1318482/000131848210000008/bclagm8k.htm" style="-sec-extract: exhibit">Amended Consulting Agreement dated June 16, 2010, between the Company, T.M. Williams (Row), Ltd., and T.M. Williams. (f)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1318482/000131848214000001/bcl8k140324.htm" style="-sec-extract: exhibit">Amended Consulting Agreement dated August 1, 2013, between the Company, T.M. Williams (Row), Ltd., and T.M. Williams. (g)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.38</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1318482/000131848214000001/bcl8k140324.htm" style="-sec-extract: exhibit">Consulting Agreement dated January 1, 2014, between the Company, Jayska Consulting Ltd., and J.M. Williams. (g)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.39</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1318482/000131848214000001/bcl8k140324.htm" style="-sec-extract: exhibit">Consulting Agreement dated January 1, 2014, between the Company, LVA Media Inc., and J.M. Williams. (g)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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    <td>&#160;</td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.42</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1318482/000131848219000001/sgl8kidz.htm" style="-sec-extract: exhibit">Share Purchase Agreement for the purchase of Kidoz Ltd. (h)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8</span></td>
    <td>&#160;</td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">12.1</span></td>
    <td>&#160;</td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">13.1</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">13.2</span></td>
    <td>&#160;</td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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    INS*</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">XBRL
    Instance Document</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">101.SCH*</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">XBRL
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">XBRL
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">XBRL
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">XBRL
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">XBRL
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">Cover
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="width: 0.25in">&#160;</td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td>&#160;</td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td>&#160;</td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td>&#160;</td>
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  </table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="sw_019"></span>SIGNATURES</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
registrant hereby certifies that it meets all of the requirements for filing on Form 20-F and that it has duly caused and authorized
the undersigned to sign this annual report on its behalf.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>KIDOZ
    INC. </b></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 50%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 45%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>/s/
    J. M. Williams</i></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">J.
    M. Williams</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>/s/
    H. W. Bromley</i></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">H.
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date:</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">April
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  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>F1
&#8211; FINANCIAL STATEMENTS</b></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-transform: uppercase; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kidoz
Inc. <span style="text-transform: none">and subsidiaries</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consolidated
Financial Statements</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Years
ended December 31, 2023, 2022 and 2021</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#sw_020">Report
    of Independent Registered Public Accounting Firm for the years ended December 31, 2023, 2022 and 2021</a></span><p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">PCAOB
                                            ID is <span id="xdx_904_edei--AuditorFirmId_c20230101__20231231_zU1Oa38Mobg8"><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" id="Fact000056" name="dei:AuditorFirmId">731</ix:nonNumeric></span></span></p></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-2</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consolidated
    Financial Statements</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#sw_021">Consolidated
    Balance Sheets</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-4</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#sw_022">Consolidated
    Statements of Operations and Comprehensive (Loss) Income</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-5</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#sw_023">Consolidated
    Statements of Stockholders&#8217; Equity</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-6</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#sw_024">Consolidated
    Statements of Cash Flows</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-7</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#sw_025">Notes
    to Consolidated Financial Statements</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-8</span></td></tr>
  </table>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; color: Red"><img src="form20-f_001.jpg" alt="" style="height: 50px; width: 670px"/></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><b><span id="sw_020"></span>Report
of Independent Registered Public Accounting Firm</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To
the Shareholders and Directors of</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kidoz
Inc.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Opinion
on the Consolidated Financial Statements</b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have audited the accompanying consolidated balance sheets of Kidoz Inc. (the &#8220;Company&#8221;) as of December 31, 2023 and
2022, and the related consolidated statements of operations and comprehensive (loss) income, stockholders&#8217; equity, and cash
flows for the years ended December 31, 2023, 2022 and 2021, and the related notes (collectively referred to as the &#8220;financial
statements&#8221;). In our opinion, the financial statements present fairly, in all material respects, the financial position of the
Company as of December 31, 2023 and 2022, and the results of its operations and its cash flows for the years ended December 31,
2023, 2022 and 2021, in conformity with accounting principles generally accepted in the United States of America.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Basis
for Opinion</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These
financial statements are the responsibility of the Company&#8217;s management. Our responsibility is to express an opinion on these financial
statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United
States) (&#8220;PCAOB&#8221;) and are required to be independent with respect to the Company in accordance with the U.S. federal securities
laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company
is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits
we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion
on the effectiveness of the entity&#8217;s internal control over financial reporting. Accordingly, we express no such opinion.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error
or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding
the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant
estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits
provide a reasonable basis for our opinion.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Critical
Audit Matters</b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
critical audit matters communicated below are matters arising from the current period audit of the financial statements that were communicated
or required to be communicated to the audit committee and that: (1) relate to accounts or disclosures that are material to the financial
statements and (2) involved our especially challenging, subjective, or complex judgments. The communication of critical audit matters
does not alter in any way our opinion on the financial statements, taken as a whole, and we are not, by communicating the critical audit
matters below, providing separate opinions on the critical audit matters or on the accounts or disclosures to which they relate.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><img src="form20-f_002.jpg" alt="" style="height: 108px; width: 670px"/>&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Evaluation
of Intangible Assets and Goodwill Impairment Analysis </i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
described in Notes 6 and 7 to the consolidated financial statements, the carrying amount of the Company&#8217;s sole reporting unit,
consisting of intangible assets, and goodwill, was $3,903,158 as at December 31, 2023 and
is a significant portion (33%) of the Company&#8217;s total assets. As discussed in notes 2(l), 2(m) and 2(n) to the consolidated
financial statements, the Company performs impairment testing on an annual basis or whenever events or changes in circumstances
indicate that the carrying value of a reporting unit may exceed its recoverable amount. During the year ended December 31, 2023, the
Company determined that no impairment was necessary.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
identified the evaluation of the goodwill impairment analysis as a critical audit matter. The estimated recoverable amount of the reporting
unit uses forward-looking estimates that involved a high degree of subjective auditor judgment, in addition to specialized skills and
knowledge to evaluate. The sensitivity of reasonably possible changes to those assumptions could have a significant impact on the determination
of the recoverable amount of the reporting unit and the Company&#8217;s assessment of impairment.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Addressing
the matter involved performing procedures and evaluating audit evidence in connection with forming our overall opinion on the consolidated
financial statements. These procedures include, among others:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Evaluating
                                            projected earnings before interest, taxes, depreciation, and amortization (&#8220;EBITDA&#8221;)
                                            by comparing historical EBITDA forecasts to actual results, current industry, market and economic trends and by examining the historical
                                            trend analysis of both increases and decreases in actual revenues and costs as compared to
                                            forecasted amounts;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Involving
                                            our valuation specialists to assist in testing certain significant assumptions described above,
                                            such as discount rates and long-term growth rates;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Performing
                                            sensitivity analyses on significant assumptions to evaluate the changes in fair value that
                                            would result from changes in these assumptions; and</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Assessing
                                            the adequacy of the associated disclosures in the financial statements.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Reliability
of Internally-Generated Reports Supporting Revenues</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company uses an underlying operating system to track ad tech advertising revenue and report this information to customers and suppliers.
As disclosed in Note 2(c) of the consolidated financial statements, the Company records revenues when a customer obtains control of promised
services, which in certain instances, is determined by the Company&#8217;s underlying operating and ad tech systems.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
identified relying on internally-generated reports as a critical audit matter. Assessing the reliability of information produced by the
Company as audit evidence requires significant judgment with respect to testing and evaluating the information to determine if it is
sufficient and appropriate for purposes of the audit. Auditing the Company&#8217;s accounting for revenue from contracts with customers
was challenging and complex due to the dependency on these internally-generated reports.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Addressing
the matter involved performing procedures and evaluating audit evidence in connection with forming our overall opinion on the consolidated
financial statements. These procedures include, among others:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Testing,
                                            on a sample basis, the completeness and accuracy of the underlying data within the Company&#8217;s
                                            billing system;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Testing,
                                            on a sample basis, credit notes issued to customers to determine if there is a history of
                                            modification;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Comparing
                                            the Company&#8217;s internally-generated reports to similar reports as provided by key customers
                                            to determine if any difference were within an acceptable range of variance; and</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Confirming,
                                            on a sample basis, revenues directly with customers.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have served as the Company&#8217;s auditor since 2010.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">April
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  </table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

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<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-transform: uppercase; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-transform: uppercase; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="sw_021"></span>Kidoz
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9.05pt; text-align: justify; text-indent: -9.05pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9.05pt; text-align: justify; text-indent: -9.05pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consolidated
Balance Sheets</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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    <td>Assets</td><td>&#160;</td>
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  <tr id="xdx_40C_eus-gaap--CommitmentsAndContingencies_i01I_pp0p0_maLASEzW9p_zq1shB063Xr" style="vertical-align: bottom; background-color: White">
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    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_402_eus-gaap--StockholdersEquityAbstract_i01B" style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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  <tr id="xdx_40A_eus-gaap--TreasuryStockValue_i02NI_di_msSEz7ea_zSSFmdh6qmg1" style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0161">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="us-gaap:TreasuryStockValue" contextRef="AsOf2022-12-31" id="Fact000162" format="ixt:numdotdecimal" decimals="0" unitRef="USD">11,793</ix:nonFraction></td><td style="text-align: left">)</td></tr>
  <tr id="xdx_409_eus-gaap--RetainedEarningsAccumulatedDeficit_i02I_maSEz7ea_zXxguUGoHPk4" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 10pt; text-align: left">Accumulated deficit</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="us-gaap:RetainedEarningsAccumulatedDeficit" contextRef="AsOf2023-12-31" id="Fact000168" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">43,997,971</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="us-gaap:RetainedEarningsAccumulatedDeficit" contextRef="AsOf2022-12-31" id="Fact000169" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">41,985,915</ix:nonFraction></td><td style="text-align: left">)</td></tr>
  <tr id="xdx_409_eus-gaap--AccumulatedOtherComprehensiveIncomeLossNetOfTaxAbstract_i02B_zg25i1wwdVD" style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 10pt; text-align: justify">Accumulated other comprehensive income: <br/></td><td>&#160;</td>
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"/><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40F_eus-gaap--AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax_i02I_maSEz7ea_zc1SgxU25xeg" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 10pt; text-align: justify">Foreign currency translation adjustment</td><td>&#160;</td>
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction name="us-gaap:AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax" contextRef="AsOf2022-12-31" id="Fact000175" format="ixt:numdotdecimal" decimals="0" unitRef="USD">24,580</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
<tr id="xdx_408_eus-gaap--StockholdersEquity_i02TI_mtSEz7ea_maLASEzW9p_znDtRhVZegEh" style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1.5pt; text-align: left">Total Stockholders&#8217; Equity</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>&#160;</td><td>&#160;</td>
    <td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt; text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt; text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_408_eus-gaap--LiabilitiesAndStockholdersEquity_i01TI_mtLASEzW9p_zOTKUmpfsiv1" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Total Liabilities and Stockholders&#8217; Equity</td><td>&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="us-gaap:LiabilitiesAndStockholdersEquity" contextRef="AsOf2023-12-31" id="Fact000180" format="ixt:numdotdecimal" decimals="0" unitRef="USD">11,807,080</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="us-gaap:LiabilitiesAndStockholdersEquity" contextRef="AsOf2022-12-31" id="Fact000181" format="ixt:numdotdecimal" decimals="0" unitRef="USD">14,387,083</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">See
accompanying notes to consolidated financial statements.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><b>&#160;</b></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-transform: uppercase; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="sw_022"></span>Kidoz
Inc. <span style="text-transform: none">and subsidiaries</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9.05pt; text-align: justify; text-indent: -9.05pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed
in United States Dollars)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9.05pt; text-align: justify; text-indent: -9.05pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-transform: uppercase; text-align: justify; text-indent: 0in"><span style="font: normal 10pt Times New Roman, Times, Serif; text-transform: none">Consolidated
Statements of Operations and Comprehensive (Loss) Income</span></p>

<!-- Field: Rule-Page --><div style="margin: 0pt auto; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-transform: uppercase; text-align: justify; text-indent: 0in"><span style="font: normal 10pt Times New Roman, Times, Serif; text-transform: none"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">&#160;</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
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    <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: right">&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: right">&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr id="xdx_405_eus-gaap--OperatingExpensesAbstract_iB_z6LzLzaPyn96" style="vertical-align: bottom; background-color: White">
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  <tr id="xdx_409_eus-gaap--GeneralAndAdministrativeExpense_i01_pp0p0_maCAEzAb5_zlukzJECgsnj" style="vertical-align: bottom; background-color: White">
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  <tr id="xdx_408_eus-gaap--ProvisionForDoubtfulAccounts_i01_pp0p0_maCAEzAb5_zaScYy3SVrya" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 10pt; text-align: left">Provision for doubtful debts</td><td style="font-weight: normal">&#160;</td>
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  <tr id="xdx_400_eus-gaap--SalariesAndWages_i01_pp0p0_maCAEzAb5_zw7TwB4VXKLb" style="vertical-align: bottom; background-color: White">
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  <tr id="xdx_403_eus-gaap--SellingAndMarketingExpense_i01_pp0p0_maCAEzAb5_zVBNifKIPKyb" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr id="xdx_407_ecustom--StockAwarenessProgram_i01N_pp0p0_di_msCAEzAb5_zLOmCy7vngc3" style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 10pt; text-align: left">Stock awareness program (Note 18)</td><td>&#160;</td>
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  <tr id="xdx_409_eus-gaap--AllocatedShareBasedCompensationExpense_i01_pp0p0_maCAEzAb5_zr6pQCDbW9Ql" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr id="xdx_40E_eus-gaap--ResearchAndDevelopmentExpenseSoftwareExcludingAcquiredInProcessCost_i01_pp0p0_maCAEzAb5_zHCIH3GvhOJd" style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt">Software technology development (Note 8)</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr id="xdx_402_eus-gaap--OperatingExpenses_i01T_pp0p0_msOILzFhi_mtCAEzAb5_ztfN19PFEJok" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40C_eus-gaap--OperatingIncomeLoss_i01T_pp0p0_mtOILzFhi_maILFCOzDvy_z79Wk0xriH0e" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">(Loss) Income before other income (expense) and income taxes</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="us-gaap:OperatingIncomeLoss" contextRef="From2023-01-01to2023-12-31" id="Fact000263" format="ixt:numdotdecimal" decimals="0" scale="0" sign="-" unitRef="USD">2,055,085</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="us-gaap:OperatingIncomeLoss" contextRef="From2022-01-012022-12-31" id="Fact000264" format="ixt:numdotdecimal" decimals="0" scale="0" sign="-" unitRef="USD">1,378,244</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40F_eus-gaap--NonoperatingIncomeExpenseAbstract_iB" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Other income (expense):</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_404_eus-gaap--ForeignCurrencyTransactionGainLossBeforeTax_i01_pp0p0_maILFCOzDvy_zFpY6nh6Wttd" style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 10pt; text-align: left">Foreign exchange gain (loss)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="us-gaap:ForeignCurrencyTransactionGainLossBeforeTax" contextRef="From2023-01-01to2023-12-31" id="Fact000271" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">1,139</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr id="xdx_409_eus-gaap--GainLossOnSaleOfDerivatives_i01_pp0p0_maILFCOzDvy_z4n2QDbeiZ3b" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 10pt; text-align: left">Gain on derivative liability &#8211; warrants (Note 10(c))</td><td style="font-weight: normal">&#160;</td>
    <td style="font-weight: normal; text-align: left">&#160;</td><td style="font-weight: normal; text-align: right"><ix:nonFraction name="us-gaap:GainLossOnSaleOfDerivatives" contextRef="From2023-01-01to2023-12-31" id="Fact000275" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">51</ix:nonFraction></td><td style="font-weight: normal; text-align: left">&#160;</td><td style="font-weight: normal">&#160;</td>
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  <tr id="xdx_40D_eus-gaap--InterestAndOtherIncome_i01_pp0p0_maILFCOzDvy_zgxYTPJUM046" style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 10pt; text-align: left">Interest and other income</td><td style="font-weight: normal">&#160;</td>
    <td style="font-weight: normal; text-align: left">&#160;</td><td style="font-weight: normal; text-align: right"><ix:nonFraction name="us-gaap:InterestAndOtherIncome" contextRef="From2023-01-01to2023-12-31" id="Fact000279" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">1,049</ix:nonFraction></td><td style="font-weight: normal; text-align: left">&#160;</td><td style="font-weight: normal">&#160;</td>
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  <tr id="xdx_404_eus-gaap--GainsLossesOnExtinguishmentOfDebt_i01_pp0p0_maILFCOzDvy_zeJvWmA1Vpwl" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt">Gain on settlement of debt (Note 9)</td><td style="font-weight: normal; padding-bottom: 1.5pt">&#160;</td>
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    <td style="border-bottom: Black 1.5pt solid; font-weight: normal; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; font-weight: normal; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0284">-</span></td><td style="padding-bottom: 1.5pt; font-weight: normal; text-align: left">&#160;</td><td style="font-weight: normal; padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: normal; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; font-weight: normal; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0285">-</span></td><td style="padding-bottom: 1.5pt; font-weight: normal; text-align: left">&#160;</td></tr>
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    <td>&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">See
accompanying notes to consolidated financial statements.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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<tr style="vertical-align: bottom; background-color: White">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_401_eus-gaap--StockRepurchasedDuringPeriodValue_iN_di_zxfyOu63sCPc" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0420">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0421">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40F_eus-gaap--NetIncomeLoss_zV3p1zwfPpo5" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">See
accompanying notes to consolidated financial statements.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: right">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40E_eus-gaap--NetCashProvidedByUsedInInvestingActivitiesAbstract_iB" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Cash flows from investing activities:</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="us-gaap:PaymentsToAcquirePropertyPlantAndEquipment" contextRef="From2023-01-01to2023-12-31" id="Fact000523" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">8,714</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0528">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="KDOZF:ProceedsFromLongtermCashEquivalent" contextRef="From2021-01-012021-12-31" id="Fact000529" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">7,768</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
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    <td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt">Security deposits</td><td style="padding-bottom: 1.5pt">&#160;</td>
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(<ix:nonFraction name="KDOZF:PaymentsToSecurityDeposits" contextRef="From2022-01-012022-12-31" id="Fact000532" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">3,727</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0533">-</span></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
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  <tr style="vertical-align: bottom; background-color: White">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40F_eus-gaap--NetCashProvidedByUsedInFinancingActivitiesAbstract_iB" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Cash flows from financing activities:</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_402_eus-gaap--RepaymentsOfLongTermDebt_i01N_pp0p0_di_msNCPBUzRmf_zdaX8fZOfzMk" style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 10pt; text-align: left">Repayment of Government CEBA loan</td><td style="font-weight: normal">&#160;</td>
    <td style="font-weight: normal; text-align: left">&#160;</td><td style="font-weight: normal; text-align: right">(<ix:nonFraction name="us-gaap:RepaymentsOfLongTermDebt" contextRef="From2023-01-01to2023-12-31" id="Fact000543" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">29,484</ix:nonFraction></td><td style="font-weight: normal; text-align: left">)</td><td style="font-weight: normal">&#160;</td>
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    <td>&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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    <td style="text-align: left">Supplementary information:</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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    <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0588">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">See
accompanying notes to consolidated financial statements.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-transform: uppercase; text-align: justify; text-indent: 0in"><span id="sw_025"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kidoz
Inc. <span style="text-transform: none">and subsidiaries</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9.05pt; text-align: justify; text-indent: -9.05pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed
in United States Dollars)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes
to Consolidated Financial Statements</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Years
ended December 31, 2023, 2022 and 2021</span></p>

<!-- Field: Rule-Page --><div style="margin: 0pt auto; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact000603" name="us-gaap:BusinessDescriptionAndBasisOfPresentationTextBlock"><p id="xdx_80C_eus-gaap--BusinessDescriptionAndBasisOfPresentationTextBlock_znVaid4yShHa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1. <span id="xdx_823_zI1NTO0ceyR6">Introduction</span>:</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Nature
of business</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 14.2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kidoz
Inc. (the &#8220;Company&#8221;, &#8220;Kidoz&#8221; or &#8220;we&#8221;), incorporated in Anguilla, British West Indies in 2005, is
a focused AdTech solution provider. The Company is the owner of the Kidoz SDK and Kidoz Connect Programmatic network, a Children&#8217;s Online Privacy
Protection Rule (&#8220;COPPA&#8221;) &amp; General Data Protection Regulation (&#8220;GDPR&#8221;) compliant contextual mobile advertising
network that reaches kids, teens, and families every month. Google certified and Apple approved, Kidoz provides a suite of advertising
technology that connects brands, content publishers and families. The Company has created a network that app developers use to compliantly
monetize traffic and advertisers rely on to reach their customers. Kidoz has developed contextual targeting tools to enable brands to
reach their ideal customers.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Effective
January 1, 2023, Kidoz Inc. continued out of the jurisdiction of the Anguillian Business Companies Act, 2022, and into the jurisdiction
of the Canada Business Corporations Act (&#8220;CBCA&#8221;).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Continuing
operations</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These
consolidated financial statements have been prepared assuming the realization of assets and the settlement of liabilities in the normal
course of operations. The Company expects to continue to generate sufficient cash flows to fund continued operations for the next 12
months, or, in the absence of adequate cash flows from operations, obtaining additional financing.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management
continues to review operations in order to identify additional strategies designed to generate cash flow, improve the Company&#8217;s
financial position, and enable the timely discharge of the Company&#8217;s obligations.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There
have been many factors which have affected the world economies in recent years. These include global pandemics (i.e. coronavirus COVID-19),
inflation, the war in Ukraine and Gaza and many more. These factors have adversely affected workforces, economies, and financial markets
globally. It has also disrupted the normal operations of many businesses, including the Company&#8217;s. These factors have affected
spending, thereby affecting demand for the Company&#8217;s product and the Company&#8217;s business and its results of operations. It
is not possible for the Company to predict the duration or magnitude of these factors at this time and the full effects on the Company&#8217;s
business, its future results of operations, or ability to raise funds.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact000605" name="us-gaap:SignificantAccountingPoliciesTextBlock"><p id="xdx_805_eus-gaap--SignificantAccountingPoliciesTextBlock_z8OmFXTDpR8j" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2. <span><span id="xdx_82E_zQJEQPc0mNO2">Summary
of significant accounting policies</span>:</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact000607" name="us-gaap:BasisOfAccountingPolicyPolicyTextBlock"><p id="xdx_848_eus-gaap--BasisOfAccountingPolicyPolicyTextBlock_zQ0oJSaDaKW" style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_86D_zZduGfutSWc">Basis of presentation</span>:</span></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 35.7pt; text-align: justify; text-indent: -17.85pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These
consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States
of America (&#8220;US GAAP&#8221;) applicable to annual financial information.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


<ix:exclude><!-- Field: Page; Sequence: 51; Value: 1 -->
    <div style="border-bottom: Black 1.5pt solid; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></td></tr></table></div>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-transform: uppercase; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kidoz
Inc. <span style="text-transform: none">and subsidiaries</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9.05pt; text-align: justify; text-indent: -9.05pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed
in United States Dollars)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes
to Consolidated Financial Statements</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Years
ended December 31, 2023, 2022 and 2021</span></p>

<!-- Field: Rule-Page --><div style="margin: 0pt auto; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>


<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Summary
                                            of significant accounting policies (Continued):</b></span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basis
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact000609" name="us-gaap:EquityMethodInvestmentsTextBlock"><p id="xdx_895_eus-gaap--EquityMethodInvestmentsTextBlock_zFaKiHEFaBJ5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
financial statements include the accounts of the Company&#8217;s subsidiaries:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<span id="xdx_8B5_zRnJKQeyj8gd" style="display: none">Schedule
of Consolidation of Subsidiaries</span></span></p>

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    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: justify">Registered</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td style="width: 32%; text-align: justify">Shoal Media (Canada) Inc.</td><td style="width: 2%">&#160;</td>
    <td style="width: 32%; text-align: justify">British Columbia, Canada</td><td style="width: 2%">&#160;</td>
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    <td style="text-align: justify">Kidoz Ltd.</td><td>&#160;</td>
    <td style="text-align: justify">Israel</td><td>&#160;</td>
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    <td id="xdx_984_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_c20231231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--PradoMediaLtdMember_zhIHlgaMEERi" title="Ownership percentage" style="text-align: center"><ix:nonFraction name="us-gaap:EquityMethodInvestmentOwnershipPercentage" contextRef="AsOf2023-12-31_custom_PradoMediaLtdMember" id="Fact000615" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">100</ix:nonFraction>%</td></tr>
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    <td style="text-align: justify">Shoal Games (UK) Plc</td><td>&#160;</td>
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</ix:nonNumeric><p id="xdx_8A9_zNG4bVIAVo2k" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2022, Coral Reef Marketing Inc. merged with Kidoz Inc. and Kidoz Inc. is the surviving entity.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2023, Shoal Games (UK) Plc was discontinued.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, there are the following dormant subsidiaries; Bingo.com (Antigua) Inc., Bingo.com (Wyoming) Inc., and Bingo Acquisition Corp.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
inter-company balances and transactions have been eliminated in the consolidated financial statements.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact000625" name="us-gaap:UseOfEstimates"><p id="xdx_848_eus-gaap--UseOfEstimates_z2KtmCgE2JZ5" style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_860_z5RUPZkA23d9">Use of estimates</span>:</span></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
preparation of consolidated financial statements in conformity with US GAAP, requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial
statements and recognized revenues and expenses for the reporting periods.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Significant
areas requiring the use of estimates include the collectability of accounts receivable, the valuation of stock-based compensation, the
valuation of deferred tax assets and liabilities, the useful lives of intangible assets, the inputs used in assessing goodwill impairment,
and the derivative liability &#8211; warrants valuation. Actual results may differ significantly from these estimates.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact000627" name="us-gaap:RevenueFromContractWithCustomerPolicyTextBlock"><p id="xdx_846_eus-gaap--RevenueFromContractWithCustomerPolicyTextBlock_z0AtuBSRRiqh" style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_866_zBPqQLf0o3ra">Revenue recognition</span>:</span></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
accordance with ASC 606, Revenue from Contracts with Customers, revenue is recognized when a customer obtains control of promised services.
The amount of revenue recognized reflects the consideration to which the Company expects to be entitled to receive in exchange for these
services.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
derive substantially all of our revenue from the sale of Ad tech advertising revenue.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-transform: uppercase; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kidoz
Inc. <span style="text-transform: none">and subsidiaries</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9.05pt; text-align: justify; text-indent: -9.05pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed
in United States Dollars)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes
to Consolidated Financial Statements</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Years
ended December 31, 2023, 2022 and 2021</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>


<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Summary
                                            of significant accounting policies (Continued):</b></span></td></tr></table>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revenue recognition: (Continued)</span></p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>To
achieve this core principle, the Company applied the following five steps:</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1)
Identify the contract with a customer</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
contract with a customer exists when (i) the Company enters into an enforceable contract with a customer that defines each party&#8217;s
rights regarding the services to be transferred, whose impression count will form the basis of the revenue and identifies the payment
terms related to these services, (ii) the contract has commercial substance and, (iii) the Company determines that collection of substantially
all consideration for services that are transferred is probable based on the customer&#8217;s intent and ability to pay the promised
consideration. The Company applies judgment in determining the customer&#8217;s ability and intention to pay, which is based on a variety
of factors including the customer&#8217;s historical payment experience or, in the case of a new customer, published credit and financial
information pertaining to the customer.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2)
Identify the performance obligations in the contract</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Performance
obligations promised in a contract are identified based on the services that will be transferred to the customer that are both capable
of being distinct, whereby the customer can benefit from the service either on its own or together with other resources that are readily
available from third parties or from the Company, and are distinct in the context of the contract, whereby the transfer of the services
is separately identifiable from other promises in the contract. To the extent a contract includes multiple promised services, the Company
must apply judgment to determine whether promised services are capable of being distinct and distinct in the context of the contract.
If these criteria are not met the promised services are accounted for as a combined performance obligation.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3)
Determine the transaction price</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
transaction price is determined based on the consideration to which the Company will be entitled in exchange for transferring services
to the customer. None of the Company&#8217;s contracts contain financing or variable consideration components.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4)
Allocate the transaction price to performance obligations in the contract</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation.
Contracts that contain multiple performance obligations require an allocation of the transaction price to each performance obligation
based on a relative standalone selling price basis. The Company determines standalone selling price based on the price at which the performance
obligation is sold separately. If the standalone selling price is not observable through past transactions, the Company estimates the
standalone selling price taking into account available information such as market conditions and internally approved pricing guidelines
related to the performance obligations.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-transform: uppercase; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kidoz
Inc. <span style="text-transform: none">and subsidiaries</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9.05pt; text-align: justify; text-indent: -9.05pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed
in United States Dollars)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes
to Consolidated Financial Statements</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Years
ended December 31, 2023, 2022 and 2021</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>


<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0pt"/><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Summary
                                            of significant accounting policies (Continued):</b></span></td></tr></table>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: -22.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revenue recognition: (Continued)</span></p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5)
Recognize revenue when or as the Company satisfies a performance obligation</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company satisfies performance obligations at a point in time as discussed in further detail under &#8220;Disaggregation of Revenue&#8221;
below. Revenue is recognized at the time the related performance obligation is satisfied by transferring a promised service to a customer.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Disaggregation
of Revenue</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
of the Company&#8217;s performance obligations, and associated revenue, are generally transferred to customers at a point in time. The
Company has the following revenue streams:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1)
Ad tech advertising revenue - The pricing and terms for all our in-game advertising arrangements are mostly governed by insertion order
which generally stipulates the payment terms, the duration (usually short term in nature), the number of advertising units delivered
(e.g. impressions, completed views, or cost per install) and the contractually agreed upon price per advertising unit. The Company has
concluded that the delivery of the Ad tech advertising is delivered at a point in time and, as such, has concluded these deliveries are
a single performance obligation. The Company invoices fees which are generally variable based on the arrangement, which would typically
include the number of impressions delivered at a specified price per application. For impressions delivered, revenue is recognized in
the month in which the Company delivers the application to the end consumer or the month when the campaign ends.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2)
Programmatic revenue - The Company generally offers these services under a programmatic bid on a Cost-per-Impression (CPM) basis. Our
customers upload their advertisements into a demand side platform which then connects to our Publisher Software Development Kit (&#8220;SDK&#8221;)
through an exchange platform and on a bid system agree on the CPM rate and the impressions to be served.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company has concluded that the delivery of the Programmatic advertising is delivered at the earlier of month end or at a point in time
and, as such, has concluded these deliveries are a single performance obligation. The Company is deemed to be the principal in the transaction
and therefore recognizes the revenue on a gross basis and commissions are recognized as cost of sales. The Company invoices fees which
are generally variable based on the arrangement, which would typically include the number of impressions delivered at a specified price
per application. For impressions delivered, revenue is recognized in the month in which the Company delivers the application to the end
consumer or the month when the campaign ends.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3)
Content revenue &#8211; The Company recognizes content revenue on the following forms of revenue:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a)
Carriers and Original Equipment Manufacturer (&#8220;OEMs&#8221;) - The Company generally offers these services under a customer contract
per tablet device license fee model with OEMs. Monthly or quarterly license fees are based on the OEM agreement with the number of devices
the Kidoz Kid Mode is installed upon.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-transform: uppercase; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kidoz
Inc. <span style="text-transform: none">and subsidiaries</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9.05pt; text-align: justify; text-indent: -9.05pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed
in United States Dollars)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes
to Consolidated Financial Statements</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Years
ended December 31, 2023, 2022 and 2021</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>


<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Summary
                                            of significant accounting policies (Continued):</b></span></td></tr></table>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revenue recognition: (Continued)</span></p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">b)
Rooplay - The Company generates revenue through subscriptions or premium sales of Rooplay, (www.rooplay.com) the cloud-based EduGame
system for kids to learn and play within its games on smartphones and tablet devices, such as Apple&#8217;s iPhone and iPad, and mobile
devices utilizing Google&#8217;s Android operating system. The revenue is recognized net of platform fees.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">c)
Rooplay licensing - The Company licenses its branded educational games under a monthly cost per game agreement license fee model. Monthly
license fees are based on the number of games licensed.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">d)
In App purchases - The Company generates revenue through in-application purchases (&#8220;in-app purchases&#8221;) within its games;
(i.e. Trophy Bingo (www.trophybingo.com)) on smartphones and tablet devices, such as Apple&#8217;s iPhone and iPad, and mobile devices
utilizing Google&#8217;s Android operating system. Users can download the Company&#8217;s free-to-play games through Android, Amazon,
iOS and Facebook Messenger (this was discontinued in fiscal 2021) and pay to acquire virtual currency which can be redeemed in the game
for power plays. The initial download of the mobile game from the Digital Storefront does not create a contract under ASC 606 because
of the lack of commercial substance; however, the separate election by the player to make an in-application purchase satisfies the criterion
thus creating a contract under ASC 606.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company has identified the following performance obligations in these contracts:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">i. Ongoing
game related services such as hosting of game play, storage of customer content, when and if available content updates, maintaining the
virtual currency management engine, tracking gameplay statistics, matchmaking as it relates to multiple player gameplay, etc.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ii. Obligation
to the paying player to continue displaying and providing access to the virtual items within the game.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Neither
of these obligations are considered distinct since the actual mobile game and the related ongoing services are both required to purchase
and benefit from the related virtual items. As such, the Company&#8217;s performance obligations represent a single combined performance
obligation which is to make the game and the ongoing game related services available to the players. The revenue is recognized net of
platform fees.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact000629" name="us-gaap:ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock"><p id="xdx_84F_eus-gaap--ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_z3CibBUYTGOb" style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_867_zfcIW2gjCCs4">Foreign currency</span>:</span></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 35.7pt; text-align: justify; text-indent: -17.85pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
consolidated financial statements are presented in United States dollars, the functional currency of the Company and its subsidiaries.
The Company accounts for foreign currency transactions and translation of foreign currency financial statements under ASC 830, Foreign
Currency Matters. Transaction amounts denominated in foreign currencies are translated at exchange rates prevailing</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-transform: uppercase; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kidoz
Inc. <span style="text-transform: none">and subsidiaries</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9.05pt; text-align: justify; text-indent: -9.05pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed
in United States Dollars)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes
to Consolidated Financial Statements</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Years
ended December 31, 2023, 2022 and 2021</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>


<table cellpadding="0" cellspacing="0" border="0" style="font: bold 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
<tr style="vertical-align: top">
  <td style="text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</span></td>
  <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Summary of significant accounting policies (Continued):</span></td></tr>
</table>


<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Foreign currency: (Continued)</span></p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">at
the transaction dates. Carrying values of monetary assets and liabilities are adjusted at each balance sheet date to reflect the exchange
rate at that date. Non-monetary assets and liabilities are translated at the exchange rate on the original transaction date.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gains
and losses from restatement of foreign currency monetary and non-monetary assets and liabilities are included in operations. Revenues
and expenses are translated at the rates of exchange prevailing on the dates such items are recognized in earnings.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact000631" name="us-gaap:CashAndCashEquivalentsPolicyTextBlock"><p id="xdx_84E_eus-gaap--CashAndCashEquivalentsPolicyTextBlock_zTdt5WZ55U96" style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_869_zkG5bzKNot26">Cash and Cash Equivalents</span>:</span></p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash
and cash equivalents includes cash on hand, deposits held at call with financial institutions and other short-term, highly liquid investments
with original maturities of three months or less that are readily convertible to known amounts of cash, and subject to an insignificant
risk of change in value.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact000633" name="us-gaap:TradeAndOtherAccountsReceivablePolicy"><p id="xdx_843_eus-gaap--TradeAndOtherAccountsReceivablePolicy_z0J0jDEv6pV1" style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(f)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_86E_zsInnAqM1gSb">Accounts receivable</span>:</span></p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17.85pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Trade
and other accounts receivable are reported at face value less any provisions for uncollectible accounts considered necessary. Accounts
receivable includes receivables from online platforms and trade receivables from customers. The Company estimates doubtful accounts on
an item-by-item basis and includes over-aged accounts as part of allowance for doubtful accounts, which are generally ones that are greater
than ninety-days overdue. Bad debt expense, for the year ended December 31, 2023 was $<span id="xdx_90B_eus-gaap--AllowanceForDoubtfulAccountsReceivableWriteOffs_c20230101__20231231_zSTPmPQXj60h" title="Bad debt expense"><ix:nonFraction name="us-gaap:AllowanceForDoubtfulAccountsReceivableWriteOffs" contextRef="From2023-01-01to2023-12-31" id="Fact000635" format="ixt:numdotdecimal" decimals="0" unitRef="USD">84,952</ix:nonFraction></span> (2022 - $<span id="xdx_902_eus-gaap--AllowanceForDoubtfulAccountsReceivableWriteOffs_dxL_c20220101__20221231_zzt97Lz3hb2c" title="Bad debt expense::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl0637">nil</span></span> and 2021 - $<span id="xdx_908_eus-gaap--AllowanceForDoubtfulAccountsReceivableWriteOffs_c20210101__20211231_zp3CaI2QW104" title="Bad debt expense"><ix:nonFraction name="us-gaap:AllowanceForDoubtfulAccountsReceivableWriteOffs" contextRef="From2021-01-012021-12-31" id="Fact000639" format="ixt:numdotdecimal" decimals="0" unitRef="USD">945</ix:nonFraction></span>). (Note 3)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17.85pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Equipment
is recorded at cost less accumulated depreciation. Depreciation is provided for annually on the declining balance method over the following
periods:</span></p>

<ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact000643" name="KDOZF:ScheduleOfPropertyPlantAndEquipmentUsefulLifeTableTextBlock"><p id="xdx_896_ecustom--ScheduleOfPropertyPlantAndEquipmentUsefulLifeTableTextBlock_zF7VYC7wtTCi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<span id="xdx_8BF_zYnXhrSVpM72" style="display: none">Schedule
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<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: 1in; border-collapse: collapse; width: 60%">
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Furniture and fixtures</td><td>&#160;</td>
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</ix:nonNumeric><p id="xdx_8A4_zlxZ0T4zNNB2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Expenditures
for maintenance and repairs are charged to expenses as incurred. Major improvements are capitalized. Gains and losses on disposition
of equipment are included in operations as realized.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
accordance with ASU No. 2016-02 &#8220;Leases (Topic 842), leasehold improvements are accounted as a prepayment of rental payments since
they are deemed to be an asset of the lessor.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact000649" name="us-gaap:InternalUseSoftwarePolicy"><p id="xdx_842_eus-gaap--InternalUseSoftwarePolicy_zldUcbXO64P7" style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(h)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_865_z1KWcZQg09Qd">Software Technology Development Costs</span>:</span></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: -17.6pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company expenses all software technology development costs as incurred for the year ended December 31, 2023, 2022 and 2021. As at December
31, 2023 and 2022, all capitalized software technology development costs have been fully amortized and the Company has no capitalized
software technology development costs.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


<ix:exclude><!-- Field: Page; Sequence: 56; Value: 1 -->
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-transform: uppercase; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kidoz
Inc. <span style="text-transform: none">and subsidiaries</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9.05pt; text-align: justify; text-indent: -9.05pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed
in United States Dollars)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes
to Consolidated Financial Statements</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Years
ended December 31, 2023, 2022 and 2021</span></p>

<!-- Field: Rule-Page --><div style="margin: 0pt auto; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>


<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Summary
                                            of significant accounting policies (Continued):</b></span></td></tr></table>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(h)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Software Technology Development Costs: (Continued)</span></p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact000657" name="KDOZF:DerivativeLiabilityWarrantsPolicyTextBlock"><p id="xdx_84D_ecustom--DerivativeLiabilityWarrantsPolicyTextBlock_zFPSEkSDtg56" style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_862_zlCsyASXcKwi">Derivative liability &#8211; warrants</span></span></p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company&#8217;s warrants have an exercise price in Canadian dollars whilst the Company&#8217;s functional currency is US Dollars. Therefore,
in accordance with ASU 815 &#8211; Derivatives and Hedging, the warrants have a derivative liability value. This liability value has
no effect on the cashflow of the Company and does not represent a cash payment of any kind.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact000659" name="us-gaap:ShareBasedCompensationOptionAndIncentivePlansPolicy"><p id="xdx_848_eus-gaap--ShareBasedCompensationOptionAndIncentivePlansPolicy_zvdYTqmwBCY1" style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(j)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span><span id="xdx_86C_zyFNFPomlI86">Stock-based compensation</span>:</span></span></p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company accounts for stock-based compensation under the provisions of Accounting Standard Codification (&#8220;ASC&#8221;) 718, &#8220;Compensation-Stock
Compensation&#8221;. Under the fair value recognition provisions, stock-based compensation expense is measured at the grant date for
all stock-based awards to employees, directors and non-employees and is recognized as an expense over the requisite service period, which
is generally the vesting period. The Black-Scholes option valuation model is used to calculate fair value.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact000661" name="us-gaap:ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock"><p id="xdx_89C_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_zru9mJ7FUlKh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
fair value of each option grant has been estimated on the date of the grant using the Black-Scholes option-pricing model with the following
weighted average assumptions:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<span id="xdx_8BC_zVHFwMEgLF85" style="display: none">Schedule
of Weighted Average Assumptions  of Option</span></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in">
  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1.5pt">Forfeiture rate</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  </table>

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</ix:nonNumeric><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact000693" name="KDOZF:RightofuseAssetPolicyPolicyTextBlock"><p id="xdx_840_ecustom--RightofuseAssetPolicyPolicyTextBlock_zXooPuXZ7ww" style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(k)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_864_zpV3oUHmlnKe">Right-of-use assets</span>:</span></p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company determines if an agreement is a lease at inception. The Company evaluates the lease terms to determine whether the lease will
be accounted for as an operating or finance lease. Operating leases are included in operating lease right-of-use (&#8220;ROU&#8221;)
assets, operating lease liabilities, current portion, and operating lease liabilities, net of current portion in the consolidated balance
sheets.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ROU
assets represent the Company&#8217;s right to use an underlying asset for the lease term and lease liabilities represent our obligation
to make lease payments arising from the lease.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operating
lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term.
As most of the Company leases do not provide an implicit rate, the Company uses the incremental borrowing rate based on the information
available at commencement date in determining the present value of lease payments. The Company uses the implicit rate when readily determinable.
The operating lease ROU asset also includes any lease payments made and excludes lease incentives. The Company&#8217;s lease terms may
include</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-transform: uppercase; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kidoz
Inc. <span style="text-transform: none">and subsidiaries</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9.05pt; text-align: justify; text-indent: -9.05pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed
in United States Dollars)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes
to Consolidated Financial Statements</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Years
ended December 31, 2023, 2022 and 2021</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>


<table cellpadding="0" cellspacing="0" border="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
<tr style="vertical-align: top">
  <td style="text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td>
  <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Summary of significant accounting policies (Continued):</b></span></td></tr>
</table>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(k)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Right-of-use assets: (Continued)</span></p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">options
to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense for lease payments is
recognized on a straight-line basis over the lease term.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 35.3pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
lease that transfers substantially all of the benefits and risks incidental to ownership of property are accounted for as finance leases.
At the inception of a finance lease, an asset and finance lease obligation is recorded at an amount equal to the lesser of the present
value of the minimum lease payments and the property&#8217;s fair market value. Finance lease obligations are classified as either current
or long-term based on the due dates of future minimum lease payments, net of interest.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 35.3pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact000695" name="us-gaap:ImpairmentOrDisposalOfLongLivedAssetsIncludingIntangibleAssetsPolicyPolicyTextBlock"><p id="xdx_847_eus-gaap--ImpairmentOrDisposalOfLongLivedAssetsIncludingIntangibleAssetsPolicyPolicyTextBlock_z4UVEL204ZE5" style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(l)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_865_zOZZXXEvPjYk">Impairment of long-lived assets and long-lived assets to be disposed of</span>:</span></p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 35.3pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of
the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount and the fair
value less costs to sell.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 35.3pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact000697" name="us-gaap:IntangibleAssetsFiniteLivedPolicy"><p id="xdx_84D_eus-gaap--IntangibleAssetsFiniteLivedPolicy_zWRDRXFenI26" style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(m)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_867_z91V1groN4sk">Intangible assets</span></span></p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact000699" name="KDOZF:ScheduleOfFinitelivedIntangibleAssetsAmortizationPeriodTableTextBlock"><p id="xdx_890_ecustom--ScheduleOfFinitelivedIntangibleAssetsAmortizationPeriodTableTextBlock_zkwCIRSOOm7b" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company identified the following intangible assets in the acquisition of Kidoz Ltd. Finite life intangible assets are recorded at historical
cost less accumulated amortization based on their estimated useful life and any impairment is determined in accordance with ASC 360.
The Company does not have any indefinite life intangible assets. Amortization is provided for annually on the straight-line method over
the following periods:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<span id="xdx_8BA_zr6MQs5P7uS2" style="display: none">Schedule of Finite-Lived Intangible Assets, Amortization Period</span></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%; margin-left: 0.5in">
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amortization period</span></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 76%; text-align: left">Ad Tech technology</td><td style="width: 2%">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Kidoz OS technology</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1.5pt">Customer relationships</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  </table>

</ix:nonNumeric><p id="xdx_8AE_zzRpMSdwygXb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company reviews intangible assets subject to amortization quarterly to determine if any adverse conditions exist or a change in circumstances
has occurred that would indicate impairment or a change in the remaining useful life. If an impairment indicator exists, we test the
intangible asset for recoverability. For purposes of the recoverability test, amortizable intangible assets are grouped with other assets
and liabilities at the lowest level of identifiable cash flows if the intangible asset does not generate cash flows independent of other
assets and liabilities. If the carrying value of the asset group exceeds the undiscounted cash flows expected to result from the use
and eventual disposition of the asset group, the Company will write the carrying value down to the fair value in the period identified.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact000707" name="us-gaap:GoodwillAndIntangibleAssetsGoodwillPolicy"><p id="xdx_844_eus-gaap--GoodwillAndIntangibleAssetsGoodwillPolicy_ztPwXbiGowEj" style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(n)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_860_zEgsiKmL7iH9">Goodwill</span>:</span></p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17.85pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company accounts for goodwill in accordance with the provisions of ASC 350, Intangibles-Goodwill and Others. Goodwill is the excess of
the purchase price over the fair value of identifiable assets acquired, less liabilities assumed, in a business combination. The Company
reviews goodwill for impairment. Goodwill is not amortized but is evaluated for impairment at least annually or whenever
events or changes in circumstances indicate that it is more likely than not that the carrying amount may not be recoverable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-transform: uppercase; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kidoz
Inc. <span style="text-transform: none">and subsidiaries</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9.05pt; text-align: justify; text-indent: -9.05pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed
in United States Dollars)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes
to Consolidated Financial Statements</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Years
ended December 31, 2023, 2022 and 2021</span></p>

<!-- Field: Rule-Page --><div style="margin: 0pt auto; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>


<table cellpadding="0" cellspacing="0" border="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
<tr style="vertical-align: top">
  <td style="text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td>
  <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Summary of significant accounting policies (Continued):</b></span></td></tr>
</table>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(n)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Goodwill: (Continued)</span></p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17.85pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
goodwill impairment test is used to identify both the existence of impairment and the amount of impairment loss, and compares the fair
value of a reporting unit with its carrying amount and is based on discounted future cash flows, based on market multiples applied to
free cash flow. The determination of the fair value of our reporting units requires management to make significant estimates and assumptions
including the selection of control premiums, discount rates, terminal growth rates, forecasts of revenue and expense growth rates, income
tax rates, changes in working capital, depreciation, amortization and capital expenditures. Changes in assumptions concerning future
financial results, exogenous market conditions, or other underlying assumptions could have a significant impact on either the fair value
of the reporting unit or the amount of the goodwill impairment charge. If the carrying value of the reporting unit exceeds its fair value,
an impairment loss is recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting
unit.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact000713" name="us-gaap:IncomeTaxPolicyTextBlock"><p id="xdx_847_eus-gaap--IncomeTaxPolicyTextBlock_zFbqT1yImvw5" style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(o)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_864_zhnYJed9fpgj">Income taxes</span>:</span></p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company follows the asset and liability method of accounting for income taxes. Under this method, current income taxes are recognized
for the estimated income taxes payable for the current period. The Company recognizes the income tax recovery from the receipt of tax
credits upon receipt of funds. Deferred income taxes are provided based on the estimated future tax effects of temporary differences
between financial statement carrying amounts of assets and liabilities and their respective tax bases, as well as the benefit of losses
available to be carried forward to future years for tax purposes.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred
tax assets and liabilities are measured using the enacted tax rates that are expected to apply to taxable income in the years in which
those temporary differences are expected to be recovered and settled. The effect on deferred tax assets and liabilities of a change in
tax rates is recognized in operations in the period that includes the enactment date. A valuation allowance is recorded for deferred
tax assets when it is not more likely than not that such future tax assets will be realized.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact000715" name="us-gaap:EarningsPerSharePolicyTextBlock"><p id="xdx_840_eus-gaap--EarningsPerSharePolicyTextBlock_ztJEFBQ1Qgbj" style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(p)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_868_zGTTltC4Q7W6">Net income (loss) per share</span>:</span></p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17.85pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ASC
260, &#8220;Earnings Per Share&#8221;, requires presentation of basic earnings per share (&#8220;Basic EPS&#8221;) and diluted earnings
per share (&#8220;Diluted EPS&#8221;). Basic earnings (loss) per share is computed by dividing earnings (loss) available to common stockholders
by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflects the potential dilution,
using the treasury stock method, that could occur if outstanding options or warrants were exercised and converted into common stock.
In computing diluted earnings per share, the treasury stock
method assumes that outstanding options and warrants are exercised and the proceeds are used to purchase common stock at the average
market price during the period.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


<ix:exclude><!-- Field: Page; Sequence: 59; Value: 1 -->
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-transform: uppercase; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kidoz
Inc. <span style="text-transform: none">and subsidiaries</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9.05pt; text-align: justify; text-indent: -9.05pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed
in United States Dollars)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes
to Consolidated Financial Statements</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Years
ended December 31, 2023, 2022 and 2021</span></p>

<!-- Field: Rule-Page --><div style="margin: 0pt auto; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>


<table cellpadding="0" cellspacing="0" border="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
<tr style="vertical-align: top">
  <td style="text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td>
  <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Summary of significant accounting policies (Continued):</b></span></td></tr>
</table>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(p)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net income (loss) per share: (Continued)</span></p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17.85pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Options
and warrants will have a dilutive effect under the treasury stock method only when the average market price of the common stock during
the period exceeds the exercise price of the options and warrants. In periods where losses are reported, the weighted average number
of common shares outstanding excludes common stock equivalents because their inclusion would be anti-dilutive. A total of <span id="xdx_900_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20230101__20231231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--StockOptionsAndWarrantsMember_zpMt8DUp8gCa" title="Antidilutive securities excluded from computation of earnings per share"><ix:nonFraction name="us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" contextRef="From2023-01-012023-12-31_custom_StockOptionsAndWarrantsMember" id="Fact000717" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">8,066,000</ix:nonFraction></span> (2022
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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income (loss) per share data for the year ended December 31, 2023 and 2022 are summarized as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<span id="xdx_8B8_zAfltYZJDkyf" style="display: none">Schedule
of Income (Loss) Per Share Data</span></span></p>

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    <td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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    <td style="text-align: left; padding-bottom: 2.5pt">Basic and diluted loss per common share outstanding</td><td style="padding-bottom: 2.5pt">&#160;</td>
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</ix:nonNumeric><p id="xdx_8AB_z9f1Q40tVkfi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact000757" name="us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock"><p id="xdx_84D_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zXlo1FyxDzWh" style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(q)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_862_zEInajZe5VC9">New accounting pronouncements and changes in accounting policies</span>:</span></p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
November 2023, the Financial Standards Board issued ASU 2023-07, Improvements to Reportable Segment Disclosures (&#8220;ASU 2023-07&#8221;),
which requires that segment expenses deemed significant to the chief operating decision maker (CODM) typically incorporated in measuring
profit or loss of the segment should be disclosed. The guidance also requires that the difference between segment revenues and these
significant segment expenses is disclosed. Any annually disclosed segment information is now required to be reported in interim periods
as well. The guidance is effective for fiscal years beginning after December 15, 2023, and interim periods beginning after December 15,
2024. Public entities are required to apply the amendment retrospectively to prior periods presented in the financial statements. The
Company plans to adopt ASU 2023-07 effective for its Fiscal year 2024 and for the interim periods beginning in Fiscal 2024.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company has evaluated all the recently issued, but not yet effective, accounting standards that have been issued or proposed by the Financial
Accounting Standards Board or other standards-setting bodies through the filing date of these consolidated financial statements and does
not believe the future adoption of any such pronouncements will have a material impact on its consolidated financial statements.</span></p>

</ix:nonNumeric><p id="xdx_855_z01R0sxiZ01f" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


<ix:exclude><!-- Field: Page; Sequence: 60; Value: 1 -->
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-transform: uppercase; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kidoz
Inc. <span style="text-transform: none">and subsidiaries</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9.05pt; text-align: justify; text-indent: -9.05pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed
in United States Dollars)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes
to Consolidated Financial Statements</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Years
ended December 31, 2023, 2022 and 2021</span></p>

<!-- Field: Rule-Page --><div style="margin: 0pt auto; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>


<table cellpadding="0" cellspacing="0" border="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
<tr style="vertical-align: top">
  <td style="text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td>
  <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Summary of significant accounting policies (Continued):</b></span></td></tr>
</table>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact000759" name="us-gaap:FairValueOfFinancialInstrumentsPolicy"><p id="xdx_843_eus-gaap--FairValueOfFinancialInstrumentsPolicy_zRCNvfYASEp8" style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(r)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_862_zfxflAJcyHwa">Financial instruments and fair value measurements</span>:</span></p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)
Fair values:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 35.3pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fair
value is the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most
advantageous market for the asset or liability in an orderly transaction between market participants on measurement date. The Company
classifies assets and liabilities recorded at fair value under the fair value hierarchy based upon the observability of inputs used in
valuation techniques. Observable inputs (highest level) reflect market data obtained from independent sources, while unobservable inputs
(lowest level) reflect internally developed market assumptions. The fair value measurements are classified under the following hierarchy:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 35.3pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 35.3pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level
1&#8212;Observable inputs that reflect quoted market prices (unadjusted) for identical assets and liabilities in active markets;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 35.3pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 35.3pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level
2&#8212;Observable inputs, other than quoted market prices, that are either directly or indirectly observable in the marketplace for
identical or similar assets and liabilities, quoted prices in markets that are not active, or other inputs that are observable or can
be corroborated by observable market data for substantially the full term of the assets and liabilities; and</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 35.3pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 35.3pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level
3&#8212;Unobservable inputs that are supported by little or no market activity that are significant to the fair value of assets or liabilities.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 35.3pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 35.3pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">When
available, we use quoted market prices to determine fair value, and we classify such measurements within Level 1. In some cases where
market prices are not available, we make use of observable market-based inputs to calculate fair value, in which case the measurements
are classified within Level 2. If quoted or observable market prices are not available, fair value is based upon valuations in which
one or more significant inputs are unobservable, including internally developed models that use, where possible, current market-based
parameters such as interest rates, yield curves and currency rates. These measurements are classified within Level 3.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 35.3pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 35.3pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fair
value measurements are classified according to the lowest level input or value-driver that is significant to the valuation. A measurement
may therefore be classified within Level 3 even though there may be significant inputs that are readily observable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 35.3pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 35.3pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fair
value measurement includes the consideration of nonperformance risk. Nonperformance risk refers to the risk that an obligation (either
by a counterparty) will not be fulfilled. For financial assets traded in an active market (Level 1 and certain Level 2), the nonperformance
risk is included in the market price. For certain other financial assets and liabilities (certain Level 2 and Level 3), our fair value
calculations have been adjusted accordingly.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 35.3pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 35.3pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
fair value of accounts receivable, accounts payable, accrued liabilities, and accounts payable, accrued liabilities - related party and
the government CEBA loan approximate their financial statement carrying amounts due to the short-term maturities of these instruments
and are therefore carried at their historical cost basis.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 35.3pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page --></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-transform: uppercase; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kidoz
Inc. <span style="text-transform: none">and subsidiaries</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9.05pt; text-align: justify; text-indent: -9.05pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed
in United States Dollars)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes
to Consolidated Financial Statements</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Years
ended December 31, 2023, 2022 and 2021</span></p>

<!-- Field: Rule-Page --><div style="margin: 0pt auto; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>


<table cellpadding="0" cellspacing="0" border="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
<tr style="vertical-align: top">
  <td style="text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td>
  <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Summary of significant accounting policies (Continued):</b></span></td></tr>
</table>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(r)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments and fair value measurements: (Continued)</span></p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)
Fair values: (Continued)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 35.3pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fair
values determined by Level 3 inputs are unobservable data points for the asset or liability, and included situations where there is little,
if any, market activity for the asset. Stock-based compensation and derivative liability &#8211; warrants were measured using Level 2
inputs. Goodwill impairment was measured using Level 3 inputs.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 35.3pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 35.3pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)
Foreign currency risk:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 35.3pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company operates internationally, which gives rise to the risk that cash flows may be adversely impacted by exchange rate fluctuations.
The Company has not entered into any forward exchange contracts or other derivative instrument to hedge against foreign exchange risk.</span></p>

</ix:nonNumeric><p id="xdx_857_zcrbrZ7emrs1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact000761" name="us-gaap:LoansNotesTradeAndOtherReceivablesDisclosureTextBlock"><p id="xdx_802_eus-gaap--LoansNotesTradeAndOtherReceivablesDisclosureTextBlock_z8w2RNXM9tZ8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>3. <span id="xdx_828_zEYLqX7EB4ll">Accounts Receivable</span>:</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

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accounts receivable as at December 31, 2023, is summarized as follows: </span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<span id="xdx_8BB_z95OH7MJvjt8" style="display: none">Schedule
of Accounts Receivable</span></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: 0.25in">
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" id="xdx_499_20231231_zzoHAc6hoChd" style="border-bottom: Black 1.5pt solid; text-align: right">2023</td><td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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    <td style="width: 60%; text-align: left">Accounts receivable</td><td style="width: 2%">&#160;</td>
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    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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    <td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt; text-align: right">&#160;</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt; text-align: right">&#160;</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
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    <td style="text-align: left; padding-bottom: 2.5pt">Net accounts receivable</td><td style="padding-bottom: 2.5pt">&#160;</td>
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</ix:nonNumeric><p id="xdx_8A4_zVjF9pQ2NLj3" style="margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">The
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact000778" name="KDOZF:PrepaidExpensesTextBlock"><p id="xdx_80B_ecustom--PrepaidExpensesTextBlock_zHqkADiw3Yli" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>4. <span id="xdx_823_zzeSAe4vjRC1">Prepaid expenses</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact000788" name="us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock"><p id="xdx_802_eus-gaap--PropertyPlantAndEquipmentDisclosureTextBlock_zIu7gIXT31G5" style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5. <span id="xdx_824_zyjmvLynUI18">Equipment</span>:</span></p>

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of Equipment</span></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 96%; margin-left: 0.25in">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction name="us-gaap:PropertyPlantAndEquipmentGross" contextRef="AsOf2023-12-31_us-gaap_FurnitureAndFixturesMember" id="Fact000794" format="ixt:numdotdecimal" decimals="0" unitRef="USD">16,517</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


<ix:exclude><!-- Field: Page; Sequence: 62; Value: 1 -->
    <div style="border-bottom: Black 1.5pt solid; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence --></td></tr></table></div>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-transform: uppercase; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kidoz
Inc. <span style="text-transform: none">and subsidiaries</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9.05pt; text-align: justify; text-indent: -9.05pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed
in United States Dollars)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes
to Consolidated Financial Statements</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Years
ended December 31, 2023, 2022 and 2021</span></p>

<!-- Field: Rule-Page --><div style="margin: 0pt auto; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>


<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5. Equipment: (Continued)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 96%; margin-left: 0.25in">
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  <tr style="vertical-align: bottom">
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</ix:nonNumeric><p id="xdx_8AC_z6x6ue3bHzO3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">Depreciation
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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  <tr id="xdx_419_20221231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zlNgRyiLTGjh" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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</ix:nonNumeric><p id="xdx_8A7_zo2KHNASgVU1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">Amortization
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact000856" name="us-gaap:GoodwillDisclosureTextBlock"><p id="xdx_80D_eus-gaap--GoodwillDisclosureTextBlock_zKTeZQ8jnw21" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>7. <span id="xdx_821_z26D1nXoXavb">Goodwill</span>:</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company has a goodwill balance of $<span id="xdx_908_eus-gaap--Goodwill_c20231231_pp0p0" title="Goodwill"><span id="xdx_902_eus-gaap--Goodwill_iI_pp0p0_c20221231_zVtSrqmdnY16" title="Goodwill"><ix:nonFraction name="us-gaap:Goodwill" contextRef="AsOf2023-12-31" id="Fact000858" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD"><ix:nonFraction name="us-gaap:Goodwill" contextRef="AsOf2022-12-31" id="Fact000860" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">3,301,439</ix:nonFraction></ix:nonFraction></span></span> for year ended December 31, 2023 and 2022 from the acquisition of Kidoz Ltd.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company&#8217;s annual goodwill impairment analysis performed during the fourth quarter of fiscal 2023 and 2022 included a quantitative
analysis of the Kidoz Ltd. reporting unit (consisting of intangible assets (Note 6), deferred taxation (Note 13) and goodwill). The reporting
unit has a carrying amount of $<span id="xdx_906_ecustom--GoodwillCarryingAmount_iI_c20231231_zz3itIX7X4sb" title="Goodwill carrying amount"><ix:nonFraction name="KDOZF:GoodwillCarryingAmount" contextRef="AsOf2023-12-31" id="Fact000862" format="ixt:numdotdecimal" decimals="0" unitRef="USD">3,903,158</ix:nonFraction></span> (2022 - $<span id="xdx_908_ecustom--GoodwillCarryingAmount_iI_c20221231_zki7lFyvfoR3" title="Goodwill carrying amount"><ix:nonFraction name="KDOZF:GoodwillCarryingAmount" contextRef="AsOf2022-12-31" id="Fact000864" format="ixt:numdotdecimal" decimals="0" unitRef="USD">4,448,896</ix:nonFraction></span>) as at December 31, 2023. The Company performed a discounted cash flow analysis
for the reporting unit. These discounted cash flow models included management assumptions for expected sales growth, margin expansion,
operational leverage, capital expenditures, and overall operational forecasts. The Company classified these significant inputs and assumptions
as Level 3 fair value measurements. Based on the annual impairment test described above there was no additional impairment determined
for fiscal 2023 or fiscal 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-transform: uppercase; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kidoz
Inc. <span style="text-transform: none">and subsidiaries</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9.05pt; text-align: justify; text-indent: -9.05pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed
in United States Dollars)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes
to Consolidated Financial Statements</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Years
ended December 31, 2023, 2022 and 2021</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>


</ix:nonNumeric><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact000866" name="us-gaap:ResearchDevelopmentAndComputerSoftwareDisclosureTextBlock"><p id="xdx_806_eus-gaap--ResearchDevelopmentAndComputerSoftwareDisclosureTextBlock_z0dJJIGPder3" style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8. <span id="xdx_82C_zhch9iYsxKbg">Software technology development costs</span>:</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company develops software technology for our business. This software technology includes the continued development of the KIDOZ Safe
Ad Network, the KIDOZ Kid-Mode Operating System, and the KIDOZ publisher SDK.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the years ended December 31, 2023, 2022 and 2021, the Company has expensed the development costs of all products as incurred and has
expensed the following development costs.</span></p>

<ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact000868" name="us-gaap:ScheduleOfResearchAndDevelopmentAssetsAcquiredOtherThanThroughBusinessCombinationTextBlock"><p id="xdx_891_eus-gaap--ScheduleOfResearchAndDevelopmentAssetsAcquiredOtherThanThroughBusinessCombinationTextBlock_z5tpySkttZs5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<span id="xdx_8B9_ztpIyzHog7e9" style="display: none">Schedule
of Expense of Development Costs</span></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 96%; margin-left: 0.25in">
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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    <td style="text-align: left; padding-bottom: 1.5pt">Software technology development during the year</td><td style="padding-bottom: 1.5pt">&#160;</td>
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    <td style="text-align: left; padding-bottom: 2.5pt">Closing total software technology development costs</td><td style="padding-bottom: 2.5pt">&#160;</td>
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</ix:nonNumeric><p id="xdx_8AC_zqEtOAIBDONb" style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact000882" name="us-gaap:DebtDisclosureTextBlock"><p id="xdx_808_eus-gaap--DebtDisclosureTextBlock_zP2S3djUWzs7" style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9. <span id="xdx_82E_zzxolt84W4p1">Government CEBA loan</span>:</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2020, the Company was granted a loan of $<span id="xdx_907_eus-gaap--ProceedsFromIssuanceOfLongTermDebt_c20200101__20201231__us-gaap--DebtInstrumentAxis__custom--CanadaEmergencyBusinessAccountLoanProgramMember_zEuozhsoXUFd" title="Proceeds from issuance of long-term debt"><ix:nonFraction name="us-gaap:ProceedsFromIssuanceOfLongTermDebt" contextRef="From2020-01-012020-12-31_custom_CanadaEmergencyBusinessAccountLoanProgramMember" id="Fact000884" format="ixt:numdotdecimal" decimals="0" unitRef="USD">44,296</ix:nonFraction></span> (CAD$<span id="xdx_900_eus-gaap--ProceedsFromIssuanceOfLongTermDebt_uCAD_c20200101__20201231__us-gaap--DebtInstrumentAxis__custom--CanadaEmergencyBusinessAccountLoanProgramMember_znGE0ZvTptoc" title="Proceeds from loan"><ix:nonFraction name="us-gaap:ProceedsFromIssuanceOfLongTermDebt" contextRef="From2020-01-012020-12-31_custom_CanadaEmergencyBusinessAccountLoanProgramMember" id="Fact000886" format="ixt:numdotdecimal" decimals="0" unitRef="CAD">60,000</ix:nonFraction></span>) under the Canada Emergency Business Account
(CEBA) loan program for small businesses. The CEBA loan program is one of the many incentives the Canadian Government put in place in
response to COVID-19. <span id="xdx_909_eus-gaap--DebtInstrumentDescription_c20200101__20201231__us-gaap--DebtInstrumentAxis__custom--CanadaEmergencyBusinessAccountLoanProgramMember_zgKgXtJbPgq2" title="Loan description"><ix:nonNumeric contextRef="From2020-01-012020-12-31_custom_CanadaEmergencyBusinessAccountLoanProgramMember" id="Fact000888" name="us-gaap:DebtInstrumentDescription">The loan is interest free and a third of the loan $<span id="xdx_90E_eus-gaap--DebtInstrumentDecreaseForgiveness_c20200101__20201231__us-gaap--DebtInstrumentAxis__custom--CanadaEmergencyBusinessAccountLoanProgramMember_zcQIZX67t8f2" title="Loan amount eligible for forgiveness"><ix:nonFraction name="us-gaap:DebtInstrumentDecreaseForgiveness" contextRef="From2020-01-012020-12-31_custom_CanadaEmergencyBusinessAccountLoanProgramMember" id="Fact000890" format="ixt:numdotdecimal" decimals="0" unitRef="USD">14,812</ix:nonFraction></span> (CAD$<span id="xdx_906_eus-gaap--DebtInstrumentDecreaseForgiveness_uCAD_c20200101__20201231__us-gaap--DebtInstrumentAxis__custom--CanadaEmergencyBusinessAccountLoanProgramMember_zDdH5706VI3j" title="Proceeds from loan"><ix:nonFraction name="us-gaap:DebtInstrumentDecreaseForgiveness" contextRef="From2020-01-012020-12-31_custom_CanadaEmergencyBusinessAccountLoanProgramMember" id="Fact000892" format="ixt:numdotdecimal" decimals="0" unitRef="CAD">20,000</ix:nonFraction></span>) is eligible for complete forgiveness if
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recognized a gain on settlement of debt of $<span id="xdx_90D_eus-gaap--GainsLossesOnExtinguishmentOfDebt_c20230101__20231231__us-gaap--DebtInstrumentAxis__custom--CanadaEmergencyBusinessAccountLoanProgramMember_zcnwQZO92xXk" title="Gain on settlement of debt"><ix:nonFraction name="us-gaap:GainsLossesOnExtinguishmentOfDebt" contextRef="From2023-01-012023-12-31_custom_CanadaEmergencyBusinessAccountLoanProgramMember" id="Fact000904" format="ixt:numdotdecimal" decimals="0" unitRef="USD">14,812</ix:nonFraction></span>. (CAD$<span id="xdx_900_eus-gaap--GainsLossesOnExtinguishmentOfDebt_uCAD_c20230101__20231231__us-gaap--DebtInstrumentAxis__custom--CanadaEmergencyBusinessAccountLoanProgramMember_zNiEUNQfbEj6" title="Gain on settlement of debt"><ix:nonFraction name="us-gaap:GainsLossesOnExtinguishmentOfDebt" contextRef="From2023-01-012023-12-31_custom_CanadaEmergencyBusinessAccountLoanProgramMember" id="Fact000906" format="ixt:numdotdecimal" decimals="0" unitRef="CAD">20,000</ix:nonFraction></span>)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2021, the Company drew $<span id="xdx_90A_eus-gaap--ProceedsFromLinesOfCredit_c20210101__20211231__us-gaap--LineOfCreditFacilityAxis__custom--LeumiBankMember_zTaDwBNfh5t8" title="Proceeds from lines of credit"><ix:nonFraction name="us-gaap:ProceedsFromLinesOfCredit" contextRef="From2021-01-012021-12-31_custom_LeumiBankMember" id="Fact000908" format="ixt:numdotdecimal" decimals="0" unitRef="USD">200,000</ix:nonFraction></span> from its line of credit with the Leumi Bank in Israel. The loan was repaid
in full during the year ended December 31, 2021 with interest costs of $<span id="xdx_90E_eus-gaap--InterestPaid_c20210101__20211231__us-gaap--LineOfCreditFacilityAxis__custom--LeumiBankMember_z94J7WZ5hPM5" title="Interest paid"><ix:nonFraction name="us-gaap:InterestPaid" contextRef="From2021-01-012021-12-31_custom_LeumiBankMember" id="Fact000910" format="ixt:numdotdecimal" decimals="0" unitRef="USD">987</ix:nonFraction></span>.</span></p>
<!-- Field: Split-Segment; Name: 001 -->
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact000912" name="us-gaap:StockholdersEquityNoteDisclosureTextBlock"><p id="xdx_804_eus-gaap--StockholdersEquityNoteDisclosureTextBlock_z2eq0Ckes3A6" style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10. <span id="xdx_829_zy0iJCXjzxLf">Stockholders&#8217;
Equity</span>:</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17.85pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
holders of common stock are entitled to one vote for each share held. There are no restrictions that limit the Company&#8217;s ability
to pay dividends on its common stock. The Company has not declared any dividends since incorporation. The Company&#8217;s common stock
has no par value per common stock and there is only one class of common shares. The Company has an unlimited number of common shares
authorized for issue.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17.85pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common stock issuances:</span></p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17.85pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fiscal
2023</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There
were no common stock issuances for the year ended December 31, 2023.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 35.3pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-transform: uppercase; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kidoz
Inc. <span style="text-transform: none">and subsidiaries</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9.05pt; text-align: justify; text-indent: -9.05pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed
in United States Dollars)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes
to Consolidated Financial Statements</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Years
ended December 31, 2023, 2022 and 2021</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>


<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10. Stockholders&#8217;
Equity: (Continued)</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common stock issuances: (Continued)</span></p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17.85pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fiscal
2022</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2021, the Company engaged with Agora Internet Relations Corp. for an online marketing campaign on the AGORACOM
platform. The agreement was for 12 months for a fee of $<span id="xdx_908_ecustom--TradingAdvisoryServicesMonthlyFee_c20210101__20211231__dei--LegalEntityAxis__custom--AgoraInternetRelationsCorpMember_z3CAUBfNstd2" title="Trading advisory services monthly fee"><ix:nonFraction name="KDOZF:TradingAdvisoryServicesMonthlyFee" contextRef="From2021-01-012021-12-31_custom_AgoraInternetRelationsCorpMember" id="Fact000914" format="ixt:numdotdecimal" decimals="0" unitRef="USD">79,705</ix:nonFraction></span> (CAD$<span id="xdx_905_ecustom--TradingAdvisoryServicesMonthlyFee_uCAD_c20210101__20211231__dei--LegalEntityAxis__custom--AgoraInternetRelationsCorpMember_zT5aUGEJvaUj" title="Trading advisory services monthly fee"><ix:nonFraction name="KDOZF:TradingAdvisoryServicesMonthlyFee" contextRef="From2021-01-012021-12-31_custom_AgoraInternetRelationsCorpMember" id="Fact000916" format="ixt:numdotdecimal" decimals="0" unitRef="CAD">100,000</ix:nonFraction></span>) payable in shares of the Company. During the year ended
December 31, 2022, the Company issued <span id="xdx_905_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_uShares_c20220101__20221231__dei--LegalEntityAxis__custom--AgoraInternetRelationsCorpMember_zM4VJusYrlM9" title="Stock issued during period, shares"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="From2022-01-012022-12-31_custom_AgoraInternetRelationsCorpMember" id="Fact000918" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">156,510</ix:nonFraction></span> shares in settlement of its obligation under the contract.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fiscal
2021</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 35.3pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2021, the Company engaged Research Capital Corporation (&#8220;RCC&#8221;) as a financial and capital markets
advisor. As part of the compensation for its services, RCC will receive a monthly fee of $<span id="xdx_906_ecustom--TradingAdvisoryServicesMonthlyFee_c20210101__20211231__dei--LegalEntityAxis__custom--ResearchCapitalCorporationMember_znRLFt7enFWk" title="Trading advisory services monthly fee"><ix:nonFraction name="KDOZF:TradingAdvisoryServicesMonthlyFee" contextRef="From2021-01-012021-12-31_custom_ResearchCapitalCorporationMember" id="Fact000920" format="ixt:numdotdecimal" decimals="0" unitRef="USD">5,119</ix:nonFraction></span> (CAD$<span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodValueIssuedForServices_uCAD_c20210101__20211231__dei--LegalEntityAxis__custom--ResearchCapitalCorporationMember_zaUANFlDjcZ" title="Stock issued, issued for services, value"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueIssuedForServices" contextRef="From2021-01-012021-12-31_custom_ResearchCapitalCorporationMember" id="Fact000922" format="ixt:numdotdecimal" decimals="0" unitRef="CAD">6,500</ix:nonFraction></span>) for its trading advisory
services for a minimum of 6 months with extension by mutual agreement and a financial advisory fee to be satisfied by the issuance of
<span id="xdx_903_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20211231__us-gaap--ClassOfWarrantOrRightAxis__custom--WarrantsIssuedToRCCMember__dei--LegalEntityAxis__custom--ResearchCapitalCorporationMember_zKsvrV75OoW" title="Number of securities called by warrants"><ix:nonFraction name="us-gaap:ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights" contextRef="AsOf2021-12-31_custom_WarrantsIssuedToRCCMember_custom_ResearchCapitalCorporationMember" id="Fact000924" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">230,000</ix:nonFraction></span> common shares of the Company valued at $<span id="xdx_901_ecustom--CommonStockValues_iI_c20211231_ziQQTnI43db7" title="Common stock value"><ix:nonFraction name="KDOZF:CommonStockValues" contextRef="AsOf2021-12-31" id="Fact000926" format="ixt:numdotdecimal" decimals="0" unitRef="USD">179,293</ix:nonFraction></span>. In addition, the Company granted <span id="xdx_902_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20211231__us-gaap--ClassOfWarrantOrRightAxis__custom--WarrantsIssuedToRCCMember__dei--LegalEntityAxis__custom--ResearchCapitalCorporationMember_z2liphhhmYk9" title="Number of securities called by warrants"><ix:nonFraction name="us-gaap:ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights" contextRef="AsOf2021-12-31_custom_WarrantsIssuedToRCCMember_custom_ResearchCapitalCorporationMember" id="Fact000928" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">230,000</ix:nonFraction></span> common share purchase warrants to RCC
(Note 2(i)). Each warrant entitled the holder thereof to purchase one common share in the capital of the Company at an exercise price
of $<span id="xdx_90F_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20211231__dei--LegalEntityAxis__custom--ResearchCapitalCorporationMember__us-gaap--ClassOfWarrantOrRightAxis__custom--WarrantsIssuedToRCCMember_zvG3Usm1VTV2" title="Exercise price of warrants"><ix:nonFraction name="us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1" contextRef="AsOf2021-12-31_custom_WarrantsIssuedToRCCMember_custom_ResearchCapitalCorporationMember" id="Fact000930" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.77</ix:nonFraction></span> (CAD$<span id="xdx_904_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_uCADPShares_c20211231__us-gaap--ClassOfWarrantOrRightAxis__custom--WarrantsIssuedToRCCMember__dei--LegalEntityAxis__custom--ResearchCapitalCorporationMember_zPRGmPVCU7Hj" title="Exercise price of warrants"><ix:nonFraction name="us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1" contextRef="AsOf2021-12-31_custom_WarrantsIssuedToRCCMember_custom_ResearchCapitalCorporationMember" id="Fact000932" format="ixt:numdotdecimal" decimals="INF" unitRef="CADPShares">0.98</ix:nonFraction></span>) at any time up to <span id="xdx_90E_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtM_c20211231__us-gaap--ClassOfWarrantOrRightAxis__custom--WarrantsIssuedToRCCMember__dei--LegalEntityAxis__custom--ResearchCapitalCorporationMember_zQwklQ17kJ01" title="Warrants and rights outstanding, term"><ix:nonNumeric contextRef="AsOf2021-12-31_custom_WarrantsIssuedToRCCMember_custom_ResearchCapitalCorporationMember" format="ixt-sec:durmonth" id="Fact000934" name="us-gaap:WarrantsAndRightsOutstandingTerm">24</ix:nonNumeric></span> months following the date of issuance and expire on April 1, 2023. During the year ended December
31, 2023, the warrants expired unexercised.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 35.3pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2021, the holder of <span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_c20210101__20211231__dei--LegalEntityAxis__custom--ResearchCapitalCorporationMember_zj30qCOfvhDj" title="Stock option exercised"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised" contextRef="From2021-01-012021-12-31_custom_ResearchCapitalCorporationMember" id="Fact000936" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">70,000</ix:nonFraction></span> stock options exercised their options for <span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_c20210101__20211231__dei--LegalEntityAxis__custom--ResearchCapitalCorporationMember_zp3dgQYPIOJk" title="Stock options exercised"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised" contextRef="From2021-01-012021-12-31_custom_ResearchCapitalCorporationMember" id="Fact000938" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">70,000</ix:nonFraction></span> shares for $<span id="xdx_906_eus-gaap--StockIssuedDuringPeriodValueStockOptionsExercised_c20210101__20211231_zjCZPZ4eKxQi" title="Stock options exercised, value"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised" contextRef="From2021-01-012021-12-31" id="Fact000940" format="ixt:numdotdecimal" decimals="0" unitRef="USD">31,264</ix:nonFraction></span> at an average
exercise price of $<span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20210101__20211231__dei--LegalEntityAxis__custom--ResearchCapitalCorporationMember_zNIC7Blt15W5" title="Average exercise price"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" contextRef="From2021-01-012021-12-31_custom_ResearchCapitalCorporationMember" id="Fact000942" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.45</ix:nonFraction></span> (CAD$<span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_uCADPShares_c20210101__20211231__dei--LegalEntityAxis__custom--ResearchCapitalCorporationMember_z8WIQ6yjCLIe" title="Average exercise price"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" contextRef="From2021-01-012021-12-31_custom_ResearchCapitalCorporationMember" id="Fact000944" format="ixt:numdotdecimal" decimals="INF" unitRef="CADPShares">0.54</ix:nonFraction></span>) per share.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Normal Course Issuer Bid:</span></p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2022, the Company filed a Notice of Intention to Make a Normal Course Issuer Bid (the &#8220;Notice of Intention&#8221;)
with the TSX Venture Exchange (&#8220;TSX-V&#8221;) on September 15, 2022. Upon receiving approval from the TSX-V, effective September
16, 2022, the Company commenced a normal course issuer bid (&#8220;NCIB&#8221;), whereby the Company may purchase for cancellation up
to <span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20220101__20221231__dei--LegalEntityAxis__custom--TSXVMember_zbHqZF4u6Vwb" title="Shares issued, shares"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="From2022-01-012022-12-31_custom_TSXVMember" id="Fact000946" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">6,579,074</ix:nonFraction></span> shares, being <span id="xdx_90A_ecustom--PercentageOfIssuedAndOutstandingShares_pid_dp_c20220101__20221231__dei--LegalEntityAxis__custom--TSXVMember_zJuYDnD9MnJg" title="Percentage of issued and outstanding shares"><ix:nonFraction name="KDOZF:PercentageOfIssuedAndOutstandingShares" contextRef="From2022-01-012022-12-31_custom_TSXVMember" id="Fact000948" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">5</ix:nonFraction></span>% of the issued and outstanding shares as of such date. Any purchases under the NCIB will be made on the
open market through the facilities of the TSX-V or alternative Canadian trading systems. Purchases will be made at market prices of the
shares at the time of acquisition.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchases
under the NCIB may commence as of September 16, 2022, and will end on the earlier of: (i) September 14, 2023; or (ii) the date on which
the Company has purchased the maximum number of shares to be acquired under the NCIB. The Company may terminate the NCIB earlier if it
feels it is appropriate to do so.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
normal course issuer bid will be conducted through Kidoz Inc&#8217;s broker Research Capital Corporation. The purchase and payment of
the common shares will be made in accordance with the requirements of the TSX-V and applicable securities laws. The actual number of
common shares purchased, timing of purchases and share price will depend upon market conditions at the time and securities law requirements.
All common shares acquired will be returned to treasury and cancelled.</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-transform: uppercase; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kidoz
Inc. <span style="text-transform: none">and subsidiaries</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9.05pt; text-align: justify; text-indent: -9.05pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed
in United States Dollars)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes
to Consolidated Financial Statements</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Years
ended December 31, 2023, 2022 and 2021</span></p>

<!-- Field: Rule-Page --><div style="margin: 0pt auto; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>


<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10. Stockholders&#8217;
Equity: (Continued)</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Normal Course Issuer Bid: (Continued)</span></p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
purchase of and payment for the shares will be made in accordance with the requirements of the TSX-V and applicable securities laws.
The actual number of shares purchased, timing of purchases and share price will depend upon market conditions at the time and securities
law requirements. All shares acquired pursuant to the NCIB will be returned to treasury and cancelled.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
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effect, at an aggregate cost of $<span id="xdx_90E_eus-gaap--StockGrantedDuringPeriodValueSharebasedCompensationForfeited_c20230101__20231231__dei--LegalEntityAxis__custom--NCIBMember_zKLueSgczg0e" title="Shares cancelled value"><ix:nonFraction name="us-gaap:StockGrantedDuringPeriodValueSharebasedCompensationForfeited" contextRef="From2023-01-012023-12-31_custom_NCIBMember" id="Fact000952" format="ixt:numdotdecimal" decimals="0" unitRef="USD">11,793</ix:nonFraction></span>, were cancelled.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2023, <span id="xdx_907_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20230101__20231231__dei--LegalEntityAxis__custom--NCIBOneMember_ztO84VJm505f" title="Shares acquired pursuant"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="From2023-01-012023-12-31_custom_NCIBOneMember" id="Fact000954" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">2,000</ix:nonFraction></span> shares were acquired pursuant to the NCIB in effect, at an aggregate cost of $<span id="xdx_903_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20230101__20231231__dei--LegalEntityAxis__custom--NCIBOneMember_zxfrPD0zDxwg" title="Shares acquired pursuant value"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueNewIssues" contextRef="From2023-01-012023-12-31_custom_NCIBOneMember" id="Fact000956" format="ixt:numdotdecimal" decimals="0" unitRef="USD">517</ix:nonFraction></span>. During the
year ended December 31, 2023, <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_c20230101__20231231__dei--LegalEntityAxis__custom--NCIBOneMember_zSY9iwFnvdXb" title="Shares cancelled"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod" contextRef="From2023-01-012023-12-31_custom_NCIBOneMember" id="Fact000958" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">2,000</ix:nonFraction></span> shares were cancelled.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Warrants:</span></p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact000966" name="us-gaap:ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock"><p id="xdx_897_eus-gaap--ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock_zPVBSZj3iVb5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
summary of warrant activity for the year ended December 31, 2023 and 2022 are as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B5_zEB3ywN9rBTc" style="display: none">Schedule
of Share Based Payment Arrangement Warrant Activity</span></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in">
  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExpirations_iN_di_c20230101__20231231__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--WarrantMember_ztXIjHeEDeCb" title="Expired">(<ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExpirations" contextRef="From2023-01-012023-12-31_us-gaap_WarrantMember" id="Fact000974" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">230,000</ix:nonFraction></span></td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">&#160;</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">&#160;</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt; text-align: right">&#160;</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt; text-align: right">&#160;</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt; text-align: right">&#160;</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_c20230101__20231231__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--WarrantMember_zaW5gYbohZxb" title="Number of warrants, ending balance"><span style="-sec-ix-hidden: xdx2ixbrl0976">-</span></span></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right">&#160;</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right">&#160;</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr>
  </table>

</ix:nonNumeric><p id="xdx_8AA_z1N08uwwwHtk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact000990" name="KDOZF:ScheduleOfFairValueOfWarrantsOrRightsTableTextBlock"><p id="xdx_897_ecustom--ScheduleOfFairValueOfWarrantsOrRightsTableTextBlock_zHFJx83ygp6h" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B5_zPYC5wzkKjF"><span style="display: none">Schedule of Fair Value of Warrants Assumptions</span></span></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto">
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td>Stock price</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Expected term</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Expected dividend yield</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 60%; text-align: left">Expected stock price volatility</td><td style="width: 2%">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20210101__20211231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zdpFy6dpRkM7" title="Risk-free interest rate"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate" contextRef="From2021-01-012021-12-31_us-gaap_MeasurementInputRiskFreeInterestRateMember" id="Fact001014" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">1.18</ix:nonFraction></span></td><td style="padding-bottom: 1.5pt; text-align: left">%</td></tr>
  </table>

</ix:nonNumeric><p id="xdx_8A7_zeOpgWmDU0qk" style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


<ix:exclude><!-- Field: Page; Sequence: 66; Value: 1 -->
    <div style="border-bottom: Black 1.5pt solid; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence --></td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page --></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-transform: uppercase; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kidoz
Inc. <span style="text-transform: none">and subsidiaries</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9.05pt; text-align: justify; text-indent: -9.05pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed
in United States Dollars)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes
to Consolidated Financial Statements</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Years
ended December 31, 2023, 2022 and 2021</span></p>

<!-- Field: Rule-Page --><div style="margin: 0pt auto; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>


<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10. Stockholders&#8217;
Equity: (Continued)</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock option plans:</span></p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2015
stock option plan</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 35.3pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
the year ended December 31, 2015, the shareholders approved the 2015 stock option plan. The 2015 stock option plan as amended in November
2020, is intended to provide incentive to employees, directors, advisors and consultants of the Company to encourage proprietary interest
in the Company, to encourage such employees to remain in the employ of the Company or such directors, advisors and consultants to remain
in the service of the Company, and to attract new employees, directors, advisors and consultants with outstanding qualifications. The
maximum number of shares issuable under the Plan shall not exceed <span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfOutstandingStockMaximum_pid_dp_uPure_c20150101__20151231__us-gaap--PlanNameAxis__custom--StockOptionPlan2015Member_z0jz5NJyx19a" title="Number of shares issued and outstanding percentage"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfOutstandingStockMaximum" contextRef="From2015-01-012015-12-31_custom_StockOptionPlan2015Member" id="Fact001016" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">10</ix:nonFraction></span>% of the number of Shares of the Company issued and outstanding as
of each Award Date unless shareholder approval is obtained in advance.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 35.3pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 35.3pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Board of Directors determines the terms of the options granted, including the number of options granted, the exercise price and their
vesting schedule. The maximum term possible is <span id="xdx_906_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod_dtY_c20150101__20151231__srt--RangeAxis__srt--MaximumMember__us-gaap--PlanNameAxis__custom--StockOptionPlan2015Member_zGTVow6pW4Ld" title="Share-based compensation arrangement, expiration period"><ix:nonNumeric contextRef="From2015-01-012015-12-31_srt_MaximumMember_custom_StockOptionPlan2015Member" format="ixt-sec:duryear" id="Fact001018" name="us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod">10</ix:nonNumeric></span> years. Under the 2015 plan we have reserved <span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfOutstandingStockMaximum_pid_dp_uPure_c20150101__20151231__us-gaap--PlanNameAxis__custom--StockOptionPlan2015Member_zwqzjTgS3fm7" title="Number of shares issued and outstanding percentage"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfOutstandingStockMaximum" contextRef="From2015-01-012015-12-31_custom_StockOptionPlan2015Member" id="Fact001020" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">10</ix:nonFraction></span>% of the number of Shares of the Company
issued and outstanding as of each Award Date. During the year ended December 31, 2020, the Rolling Stock Option plan was amended by inclusion
of an Israeli Taxpayers Appendix.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 35.3pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2023, the Company granted <span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20230101__20231231__us-gaap--PlanNameAxis__custom--StockOptionPlan2015Member__us-gaap--AwardTypeAxis__custom--EmployeeStockOptionsMember_znddjLRXYJCh" title="Number of options granted"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" contextRef="From2023-01-012023-12-31_custom_StockOptionPlan2015Member_custom_EmployeeStockOptionsMember" id="Fact001022" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1,885,000</ix:nonFraction></span> options to employees and consultants with an exercise price of CAD$<span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_uCADPShares_c20230101__20231231__us-gaap--PlanNameAxis__custom--StockOptionPlan2015Member__us-gaap--AwardTypeAxis__custom--EmployeeStockOptionsMember_zkrrgHRxeEg7" title="Exercise price"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" contextRef="From2023-01-012023-12-31_custom_StockOptionPlan2015Member_custom_EmployeeStockOptionsMember" id="Fact001024" format="ixt:numdotdecimal" decimals="INF" unitRef="CADPShares">0.30</ix:nonFraction></span>
($<span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20230101__20231231__us-gaap--PlanNameAxis__custom--StockOptionPlan2015Member__us-gaap--AwardTypeAxis__custom--EmployeeStockOptionsMember_zqfqJTD5j5Vh" title="Exercise price"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" contextRef="From2023-01-012023-12-31_custom_StockOptionPlan2015Member_custom_EmployeeStockOptionsMember" id="Fact001026" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.22</ix:nonFraction></span>) where <span id="xdx_90D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage_pid_dp_uPure_c20230101__20231231__us-gaap--PlanNameAxis__custom--StockOptionPlan2015Member__us-gaap--VestingAxis__custom--EmployeeStockOptionsMember_z4F3f5Orrtm8" title="Vesting per month"><ix:nonFraction name="us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage" contextRef="From2023-01-012023-12-31_custom_StockOptionPlan2015Member_custom_EmployeeStockOptionsMember156609062" id="Fact001028" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">2</ix:nonFraction></span>% vests per month. <span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20230101__20231231__us-gaap--PlanNameAxis__custom--StockOptionPlan2015Member__us-gaap--AwardTypeAxis__custom--EmployeeStockOptionsMember__srt--TitleOfIndividualAxis__custom--DirectorsAndOfficersMember_zQWMz2dxC9Uc" title="Number of options granted"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" contextRef="From2023-01-012023-12-31_custom_StockOptionPlan2015Member_custom_EmployeeStockOptionsMember_custom_DirectorsAndOfficersMember" id="Fact001030" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">400,000</ix:nonFraction></span> of these options were granted to directors and officers of the Company. Subsequent to the year
ended December 31, 2023, <span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20240101__20240422__us-gaap--PlanNameAxis__custom--StockOptionPlan2015Member__us-gaap--AwardTypeAxis__custom--EmployeeStockOptionsMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zlLXA8s6jlv8" title="Number of options granted"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" contextRef="From2024-01-012024-04-22_custom_StockOptionPlan2015Member_custom_EmployeeStockOptionsMember_us-gaap_SubsequentEventMember" id="Fact001032" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">2,318,750</ix:nonFraction></span> options were granted to employees and consultants with an exercise price of CAD$<span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_uCADPShares_c20240101__20240422__us-gaap--PlanNameAxis__custom--StockOptionPlan2015Member__us-gaap--AwardTypeAxis__custom--EmployeeStockOptionsMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z6fHjwMQ35D2" title="Exercise price"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" contextRef="From2024-01-012024-04-22_custom_StockOptionPlan2015Member_custom_EmployeeStockOptionsMember_us-gaap_SubsequentEventMember" id="Fact001034" format="ixt:numdotdecimal" decimals="INF" unitRef="CADPShares">0.20</ix:nonFraction></span> ($<span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20240101__20240422__us-gaap--PlanNameAxis__custom--StockOptionPlan2015Member__us-gaap--AwardTypeAxis__custom--EmployeeStockOptionsMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zTrMll2LnTKc" title="Exercise price"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" contextRef="From2024-01-012024-04-22_custom_StockOptionPlan2015Member_custom_EmployeeStockOptionsMember_us-gaap_SubsequentEventMember" id="Fact001036" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.14</ix:nonFraction></span>) where
<span id="xdx_901_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage_pid_dp_uPure_c20240101__20240422__us-gaap--PlanNameAxis__custom--StockOptionPlan2015Member__us-gaap--AwardTypeAxis__custom--EmployeeStockOptionsMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z7AvcUxMfRJ8" title="Vesting per month"><ix:nonFraction name="us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage" contextRef="From2024-01-012024-04-22_custom_StockOptionPlan2015Member_custom_EmployeeStockOptionsMember_us-gaap_SubsequentEventMember" id="Fact001038" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">2</ix:nonFraction></span>% vests per month. <span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20240101__20240422__us-gaap--PlanNameAxis__custom--StockOptionPlan2015Member__us-gaap--AwardTypeAxis__custom--EmployeeStockOptionsMember__srt--TitleOfIndividualAxis__custom--DirectorsAndOfficersMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zwZ1suDXiE8" title="Number of options granted"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" contextRef="From2024-01-012024-04-22_custom_StockOptionPlan2015Member_custom_EmployeeStockOptionsMember_custom_DirectorsAndOfficersMember_us-gaap_SubsequentEventMember" id="Fact001040" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1,056,250</ix:nonFraction></span> options of these options were granted to directors and officers of the Company.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2023, <span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_c20230101__20231231__us-gaap--PlanNameAxis__custom--StockOptionPlan2015Member__us-gaap--AwardTypeAxis__custom--EmployeeStockOptionsMember_zrYF4vlbHdZ4" title="Cancelled, number of options"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod" contextRef="From2023-01-012023-12-31_custom_StockOptionPlan2015Member_custom_EmployeeStockOptionsMember" id="Fact001042" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">460,000</ix:nonFraction></span> options were cancelled, and <span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_c20230101__20231231__us-gaap--PlanNameAxis__custom--StockOptionPlan2015Member__us-gaap--AwardTypeAxis__custom--EmployeeStockOptionsMember_zz4JLtOOYhTl" title="Expired, number of options"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod" contextRef="From2023-01-012023-12-31_custom_StockOptionPlan2015Member_custom_EmployeeStockOptionsMember" id="Fact001044" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1,988,000</ix:nonFraction></span> options expired unexercised.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2022, the Company granted <span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20220101__20221231__us-gaap--PlanNameAxis__custom--StockOptionPlan2015Member__us-gaap--AwardTypeAxis__custom--EmployeeStockOptionsMember_zocKnTKhGEh6" title="Number of options granted"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" contextRef="From2022-01-012022-12-31_custom_StockOptionPlan2015Member_custom_EmployeeStockOptionsMember" id="Fact001046" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">2,550,000</ix:nonFraction></span> options to employees and consultants with an exercise price of CAD$<span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_uCADPShares_c20220101__20221231__us-gaap--PlanNameAxis__custom--StockOptionPlan2015Member__us-gaap--AwardTypeAxis__custom--EmployeeStockOptionsMember_z023opfMqiIb" title="Exercise price"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" contextRef="From2022-01-012022-12-31_custom_StockOptionPlan2015Member_custom_EmployeeStockOptionsMember" id="Fact001048" format="ixt:numdotdecimal" decimals="INF" unitRef="CADPShares">0.50</ix:nonFraction></span>
($<span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20220101__20221231__us-gaap--PlanNameAxis__custom--StockOptionPlan2015Member__us-gaap--AwardTypeAxis__custom--EmployeeStockOptionsMember_zv0Y83mJCE9l" title="Exercise price"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" contextRef="From2022-01-012022-12-31_custom_StockOptionPlan2015Member_custom_EmployeeStockOptionsMember" id="Fact001050" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.37</ix:nonFraction></span>) where <span id="xdx_906_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage_pid_dp_uPure_c20220101__20221231__us-gaap--PlanNameAxis__custom--StockOptionPlan2015Member__us-gaap--VestingAxis__custom--EmployeeStockOptionsMember_z4tnhb09Qwf" title="Vesting per month"><ix:nonFraction name="us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage" contextRef="From2022-01-012022-12-31_custom_StockOptionPlan2015Member_custom_EmployeeStockOptionsMember156609125" id="Fact001052" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">2</ix:nonFraction></span>% vests per month. <span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20220101__20221231__us-gaap--PlanNameAxis__custom--StockOptionPlan2015Member__us-gaap--AwardTypeAxis__custom--EmployeeStockOptionsMember__srt--TitleOfIndividualAxis__custom--DirectorsAndOfficersMember_zDTmr74x1Ns6" title="Number of options granted"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" contextRef="From2022-01-012022-12-31_custom_StockOptionPlan2015Member_custom_EmployeeStockOptionsMember_custom_DirectorsAndOfficersMember" id="Fact001054" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">900,000</ix:nonFraction></span> of these options were granted to directors and officers of the Company.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2022, <span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_c20220101__20221231__us-gaap--PlanNameAxis__custom--StockOptionPlan2015Member__us-gaap--AwardTypeAxis__custom--EmployeeStockOptionsMember_zUJOPMZJoPd5" title="Cancelled, number of options"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod" contextRef="From2022-01-012022-12-31_custom_StockOptionPlan2015Member_custom_EmployeeStockOptionsMember" id="Fact001056" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">285,600</ix:nonFraction></span> options were cancelled, and <span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_c20220101__20221231__us-gaap--PlanNameAxis__custom--StockOptionPlan2015Member__us-gaap--AwardTypeAxis__custom--EmployeeStockOptionsMember_z2ZeQNt85P68" title="Expired, number of options"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod" contextRef="From2022-01-012022-12-31_custom_StockOptionPlan2015Member_custom_EmployeeStockOptionsMember" id="Fact001058" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">506,150</ix:nonFraction></span> options expired unexercised.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2021, the Company granted to employees and consultants the following options:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20210101__20211231__us-gaap--PlanNameAxis__custom--StockOptionPlan2015Member__us-gaap--AwardTypeAxis__custom--EmployeeStockOptions1Member_zYKsOkFUU7he" title="Number of options granted"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" contextRef="From2021-01-012021-12-31_custom_StockOptionPlan2015Member_custom_EmployeeStockOptions1Member" id="Fact001060" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1,040,000</ix:nonFraction></span>
                                            options at CAD$<span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_uCADPShares_c20210101__20211231__us-gaap--PlanNameAxis__custom--StockOptionPlan2015Member__us-gaap--AwardTypeAxis__custom--EmployeeStockOptions1Member_z79XpHlxznv3" title="Share-based compensation arrangement, grants in period, weighted average exercise price (in CAD per share)"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" contextRef="From2021-01-012021-12-31_custom_StockOptionPlan2015Member_custom_EmployeeStockOptions1Member" id="Fact001062" format="ixt:numdotdecimal" decimals="INF" unitRef="CADPShares">0.50</ix:nonFraction></span> ($<span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20210101__20211231__us-gaap--PlanNameAxis__custom--StockOptionPlan2015Member__us-gaap--AwardTypeAxis__custom--EmployeeStockOptions1Member_zh3I6H4OpHvh" title="Share-based compensation arrangement, grants in period, weighted average exercise price (in CAD per share)"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" contextRef="From2021-01-012021-12-31_custom_StockOptionPlan2015Member_custom_EmployeeStockOptions1Member" id="Fact001064" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.39</ix:nonFraction></span>) where <span id="xdx_900_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage_dp_uPure_c20210101__20211231__us-gaap--VestingAxis__custom--VestingAtTheGrantDateMember__us-gaap--AwardTypeAxis__custom--EmployeeStockOptions1Member_zOmFd0UeenQa" title="Vests on grant date"><ix:nonFraction name="us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage" contextRef="From2021-01-012021-12-31_custom_VestingAtTheGrantDateMember_custom_EmployeeStockOptions1Member" id="Fact001066" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">10</ix:nonFraction></span>% vests on grant date, <span id="xdx_902_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage_pid_dp_uPure_c20210101__20211231__us-gaap--AwardTypeAxis__custom--EmployeeStockOptions1Member_z2bZGdjHWBfc" title="Vests on grant date"><ix:nonFraction name="us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage" contextRef="From2021-01-012021-12-31_custom_EmployeeStockOptions1Member" id="Fact001068" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">15</ix:nonFraction></span>% one year following and <span id="xdx_900_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage_pid_dp_uPure_c20210101__20211231__us-gaap--VestingAxis__custom--VestingPerMonthAfterOneYearMember__us-gaap--AwardTypeAxis__custom--EmployeeStockOptions1Member_zp9mhmimo4y8" title="Vesting rights"><ix:nonFraction name="us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage" contextRef="From2021-01-012021-12-31_custom_VestingPerMonthAfterOneYearMember_custom_EmployeeStockOptions1Member" id="Fact001070" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">2</ix:nonFraction></span>%
                                            per month thereafter and expire on February 1, 2026. <span id="xdx_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_c20210101__20211231__us-gaap--AwardTypeAxis__custom--EmployeeStockOptions1Member_zm7fSWcUJwr6" title="Vested"><ix:nonFraction name="us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares" contextRef="From2021-01-012021-12-31_custom_EmployeeStockOptions1Member" id="Fact001072" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">400,000</ix:nonFraction></span> of these options were granted
                                            to directors and officers of the Company.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 71.3pt; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20210101__20211231__us-gaap--PlanNameAxis__custom--StockOptionPlan2015Member__us-gaap--VestingAxis__custom--EmployeeStockOptions2Member_zmPuX6YJn1x9" title="Number of options granted"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" contextRef="From2021-01-012021-12-31_custom_StockOptionPlan2015Member_custom_EmployeeStockOptions2Member" id="Fact001074" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">35,000</ix:nonFraction></span>
                                            options at CAD$<span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_uCADPShares_c20210101__20211231__us-gaap--PlanNameAxis__custom--StockOptionPlan2015Member__us-gaap--VestingAxis__custom--EmployeeStockOptions2Member_zUx9tntcAbx9" title="Share-based compensation arrangement, grants in period, weighted average exercise price (in CAD per share)"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" contextRef="From2021-01-012021-12-31_custom_StockOptionPlan2015Member_custom_EmployeeStockOptions2Member" id="Fact001076" format="ixt:numdotdecimal" decimals="INF" unitRef="CADPShares">0.50</ix:nonFraction></span> ($<span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20210101__20211231__us-gaap--PlanNameAxis__custom--StockOptionPlan2015Member__us-gaap--VestingAxis__custom--EmployeeStockOptions2Member_zqsfCVZB97Jg" title="Share-based compensation arrangement, grants in period, weighted average exercise price (in CAD per share)"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" contextRef="From2021-01-012021-12-31_custom_StockOptionPlan2015Member_custom_EmployeeStockOptions2Member" id="Fact001078" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.39</ix:nonFraction></span>) which vested immediately and expire on February 1, 2026.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 71.3pt; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20210101__20211231__us-gaap--PlanNameAxis__custom--StockOptionPlan2015Member__us-gaap--VestingAxis__custom--EmployeeStockOptions3Member_za09f8mr9PH6" title="Number of options granted"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" contextRef="From2021-01-012021-12-31_custom_StockOptionPlan2015Member_custom_EmployeeStockOptions3Member" id="Fact001080" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1,300,000</ix:nonFraction></span>
                                            options at CAD$<span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_uCADPShares_c20210101__20211231__us-gaap--PlanNameAxis__custom--StockOptionPlan2015Member__us-gaap--VestingAxis__custom--EmployeeStockOptions3Member_zYywFb6pGu6i" title="Share-based compensation arrangement, grants in period, weighted average exercise price (in CAD per share)"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" contextRef="From2021-01-012021-12-31_custom_StockOptionPlan2015Member_custom_EmployeeStockOptions3Member" id="Fact001082" format="ixt:numdotdecimal" decimals="INF" unitRef="CADPShares">1.02</ix:nonFraction></span> ($<span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20210101__20211231__us-gaap--PlanNameAxis__custom--StockOptionPlan2015Member__us-gaap--VestingAxis__custom--EmployeeStockOptions3Member_zsAUndFscCvj" title="Share-based compensation arrangement, grants in period, weighted average exercise price (in CAD per share)"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" contextRef="From2021-01-012021-12-31_custom_StockOptionPlan2015Member_custom_EmployeeStockOptions3Member" id="Fact001084" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.80</ix:nonFraction></span>) where <span id="xdx_907_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage_pid_dp_uPure_c20210101__20211231__us-gaap--PlanNameAxis__custom--StockOptionPlan2015Member__us-gaap--VestingAxis__custom--EmployeeStockOptions3Member_zsUmdzXGk97k" title="Vesting per month"><ix:nonFraction name="us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage" contextRef="From2021-01-012021-12-31_custom_StockOptionPlan2015Member_custom_EmployeeStockOptions3Member" id="Fact001086" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">2</ix:nonFraction></span>% vests per month and expire on April 6, 2026. <span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20210101__20211231__us-gaap--PlanNameAxis__custom--StockOptionPlan2015Member__srt--TitleOfIndividualAxis__custom--DirectorsAndOfficersMember__us-gaap--VestingAxis__custom--EmployeeStockOptions3Member_zdoOZWF1MLsh" title="Grants in period"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" contextRef="From2021-01-012021-12-31_custom_StockOptionPlan2015Member_custom_DirectorsAndOfficersMember_custom_EmployeeStockOptions3Member" id="Fact001088" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">400,000</ix:nonFraction></span>
                                            of these options were granted to directors and officers of the Company.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 71.3pt; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


<ix:exclude><!-- Field: Page; Sequence: 67; Value: 1 -->
    <div style="border-bottom: Black 1.5pt solid; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence --></td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page --></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">&#160;</p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-transform: uppercase; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kidoz
Inc. <span style="text-transform: none">and subsidiaries</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9.05pt; text-align: justify; text-indent: -9.05pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed
in United States Dollars)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes
to Consolidated Financial Statements</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Years
ended December 31, 2023, 2022 and 2021</span></p>

<!-- Field: Rule-Page --><div style="margin: 0pt auto; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>


<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10. Stockholders&#8217;
Equity: (Continued)</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock option plans: (Continued)</span></p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17.85pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20210101__20211231__us-gaap--PlanNameAxis__custom--StockOptionPlan2015Member__us-gaap--VestingAxis__custom--EmployeeStockOptions4Member_zQ9qeEfx6YT7" title="Number of options granted"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" contextRef="From2021-01-012021-12-31_custom_StockOptionPlan2015Member_custom_EmployeeStockOptions4Member" id="Fact001090" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">300,000</ix:nonFraction></span>
                                            options at CAD$<span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_uCADPShares_c20210101__20211231__us-gaap--VestingAxis__custom--EmployeeStockOptions4Member__us-gaap--PlanNameAxis__custom--StockOptionPlan2015Member_zs4vp9IqXd5h" title="Options exercise price per share"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" contextRef="From2021-01-012021-12-31_custom_StockOptionPlan2015Member_custom_EmployeeStockOptions4Member" id="Fact001092" format="ixt:numdotdecimal" decimals="INF" unitRef="CADPShares">0.66</ix:nonFraction></span> ($<span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20210101__20211231__us-gaap--VestingAxis__custom--EmployeeStockOptions4Member__us-gaap--PlanNameAxis__custom--StockOptionPlan2015Member_zDTpuXS7yDT9" title="Options exercise price per share"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" contextRef="From2021-01-012021-12-31_custom_StockOptionPlan2015Member_custom_EmployeeStockOptions4Member" id="Fact001094" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.52</ix:nonFraction></span>) where <span id="xdx_904_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage_pid_dp_uPure_c20210101__20211231__us-gaap--PlanNameAxis__custom--StockOptionPlan2015Member__us-gaap--VestingAxis__custom--EmployeeStockOptions4Member_zcn1mcmok1Q7" title="Vesting rights"><ix:nonFraction name="us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage" contextRef="From2021-01-012021-12-31_custom_StockOptionPlan2015Member_custom_EmployeeStockOptions4Member" id="Fact001096" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">2</ix:nonFraction></span>% vests per month and expire on July 12, 2026.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 71.3pt; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact001098" name="us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock"><p id="xdx_897_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_zN3HDnsYWPdh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
summary of stock option activity for the stock option plans for the years ended December 31, 2023 and 2022 are as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span id="xdx_8BF_zeN7jqg8cUjd" style="display: none">Schedule
of Share Based Payment Arrangement Option Activity</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in">
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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    <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: right">Weighted average exercise price</td><td style="padding-bottom: 1.5pt">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 60%">Outstanding December 31, 2020</td><td style="width: 2%">&#160;</td>
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    <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20210101__20211231_zi4e9MCN8kf7" title="Outstanding, weighted average exercise price, beginning balance" style="width: 16%; text-align: right"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" contextRef="AsOf2020-12-31" id="Fact001102" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.39</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>Granted</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20210101__20211231_zThJFZt2qSF5" title="Granted, number of options" style="text-align: right"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" contextRef="From2021-01-012021-12-31" id="Fact001104" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">2,675,000</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td>Exercised</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_98C_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_iN_di_c20210101__20211231_z7oinCQMVbx5" title="Exercised, number of options" style="text-align: right">(<ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised" contextRef="From2021-01-012021-12-31" id="Fact001108" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">70,000</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_iN_di_c20210101__20211231_zdKVywvB8ang" title="Exercised, weighted average exercise price" style="text-align: right">(<ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" contextRef="From2021-01-012021-12-31" id="Fact001110" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.45</ix:nonFraction></td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>Expired</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_iN_di_c20210101__20211231_zdTs9bFeJGe7" title="Expired, number of options" style="text-align: right">(<ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod" contextRef="From2021-01-012021-12-31" id="Fact001112" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">570,000</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice_iN_di_c20210101__20211231_zCOHPCTybexc" title="Expired, weighted average exercise price" style="text-align: right">(<ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice" contextRef="From2021-01-012021-12-31" id="Fact001114" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.43</ix:nonFraction></td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1.5pt">Cancelled</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_di_c20210101__20211231_z5CKRK8fv68g" title="Cancelled, number of options" style="border-bottom: Black 1.5pt solid; text-align: right">(<ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod" contextRef="From2021-01-012021-12-31" id="Fact001116" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1,040,600</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_iN_di_c20210101__20211231_ztCQHbbIs4N5" title="Cancelled, weighted average exercise price" style="border-bottom: Black 1.5pt solid; text-align: right">(<ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice" contextRef="From2021-01-012021-12-31" id="Fact001118" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.42</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>Outstanding December 31, 2021</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20220101__20221231_zbGg2Q9TVgCf" title="Outstanding, number of options, beginning balance" style="text-align: right"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" contextRef="AsOf2021-12-31" id="Fact001120" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">6,870,150</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">$</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20220101__20221231_zKRyKR0rr8d7" title="Outstanding, weighted average exercise price, beginning balance" style="text-align: right"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" contextRef="AsOf2021-12-31" id="Fact001122" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.48</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>Granted</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20220101__20221231_zBdwGreCJTH3" title="Granted, number of options" style="text-align: right"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" contextRef="From2022-01-012022-12-31" id="Fact001124" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">2,550,000</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20220101__20221231_z1yYrLzZfVec" title="Granted, Weighted average exercise price" style="text-align: right"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" contextRef="From2022-01-012022-12-31" id="Fact001126" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.37</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td>Expired</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_iN_di_c20220101__20221231_zbbTxqU8Nixe" title="Expired, number of options" style="text-align: right">(<ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod" contextRef="From2022-01-012022-12-31" id="Fact001128" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">506,150</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice_iN_di_c20220101__20221231_zzwe82M9ui4f" title="Expired, weighted average exercise price" style="text-align: right">(<ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice" contextRef="From2022-01-012022-12-31" id="Fact001130" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.40</ix:nonFraction></td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 1.5pt">Cancelled</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_di_c20220101__20221231_zBHAt15OZHT3" title="Cancelled, number of options" style="border-bottom: Black 1.5pt solid; text-align: right">(<ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod" contextRef="From2022-01-012022-12-31" id="Fact001132" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">285,600</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_iN_di_c20220101__20221231_zAFP5DvrLTvk" title="Cancelled, weighted average exercise price" style="border-bottom: Black 1.5pt solid; text-align: right">(<ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice" contextRef="From2022-01-012022-12-31" id="Fact001134" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.48</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td>Outstanding December 31, 2022</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20230101__20231231_z4dDBsjcDKG9" title="Outstanding, number of options, beginning balance" style="text-align: right"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" contextRef="AsOf2022-12-31" id="Fact001136" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">8,629,000</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">$</td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20230101__20231231_zSChSE0E8yUk" title="Outstanding, weighted average exercise price, beginning balance" style="text-align: right"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" contextRef="AsOf2022-12-31" id="Fact001138" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.43</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td>Granted</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20230101__20231231_zNKdaPNnidn1" title="Granted, number of options" style="text-align: right"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" contextRef="From2023-01-01to2023-12-31" id="Fact001140" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1,885,000</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20230101__20231231_zpoUStdEClF9" title="Granted, Weighted average exercise price" style="text-align: right"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" contextRef="From2023-01-01to2023-12-31" id="Fact001142" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.22</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>Expired</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_iN_di_c20230101__20231231_zdXkeODrjEt8" title="Expired, number of options" style="text-align: right">(<ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod" contextRef="From2023-01-01to2023-12-31" id="Fact001144" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1,988,000</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice_iN_di_c20230101__20231231_zuRgD0w5e3ei" title="Expired, weighted average exercise price" style="text-align: right">(<ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice" contextRef="From2023-01-01to2023-12-31" id="Fact001146" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.46</ix:nonFraction></td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1.5pt">Cancelled</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_di_c20230101__20231231_zWeQAv3QEes6" title="Cancelled, number of options" style="border-bottom: Black 1.5pt solid; text-align: right">(<ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod" contextRef="From2023-01-01to2023-12-31" id="Fact001148" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">460,000</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 2.5pt">Outstanding December 31, 2023</td><td style="padding-bottom: 2.5pt">&#160;</td>
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</ix:nonNumeric><p id="xdx_8A4_zkYsU4f5TAyj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
aggregate intrinsic value for options as of December 31, 2023 was $<span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iI_dxL_c20231231_zxJu9px0tLci" title="Aggregate intrinsic value for options::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl1156">nil</span></span> (2022 - $<span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iI_dxL_c20221231_z7f8Hyp7RRj1" title="Aggregate intrinsic value for options::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl1158">nil</span></span>).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact001160" name="us-gaap:ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock"><p id="xdx_893_eus-gaap--ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock_z4eNR2iPZ7Ta" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table summarizes information concerning outstanding and exercisable stock options at December 31, 2023:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B7_zbDSJSlVh8p6" style="display: none">Schedule
of Share Based Payment Arrangement Option Exercise Price Range</span></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%; margin-left: 0.5in">
  <tr style="vertical-align: bottom">
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    <td style="border-bottom: Black 1.5pt solid; text-align: right">Expiry date</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td id="xdx_985_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_iI_c20231231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--Range3Member_zsDRpdRaLdB4" title="Number outstanding" style="text-align: right"><ix:nonFraction name="us-gaap:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions" contextRef="AsOf2023-12-31_custom_Range3Member" id="Fact001180" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">789,600</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_984_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions_iI_c20231231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--Range3Member_zT252f9c6i68" title="Number exercisable" style="text-align: right"><ix:nonFraction name="us-gaap:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions" contextRef="AsOf2023-12-31_custom_Range3Member" id="Fact001182" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">572,100</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: right"><span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardExpirationDate_dd_c20230101__20231231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--Range3Member_z9Ak3cAFrROg" title="Expiry date"><ix:nonNumeric contextRef="From2023-01-012023-12-31_custom_Range3Member" format="ixt:datemonthdayyearen" id="Fact001184" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardExpirationDate">February 1, 2026</ix:nonNumeric></span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td id="xdx_98F_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_iI_c20231231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--Range4Member_zzJLytwKkAM1" title="Number outstanding" style="text-align: right"><ix:nonFraction name="us-gaap:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions" contextRef="AsOf2023-12-31_custom_Range4Member" id="Fact001188" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">2,295,000</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_984_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions_iI_c20231231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--Range4Member_zAwbULEFYSYg" title="Number exercisable" style="text-align: right"><ix:nonFraction name="us-gaap:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions" contextRef="AsOf2023-12-31_custom_Range4Member" id="Fact001190" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1,009,800</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">CAD$<span id="xdx_904_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1_iI_uCADPShares_c20231231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--Range5Member_zFvdntURdu44" title="Exercise prices per share"><ix:nonFraction name="us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1" contextRef="AsOf2023-12-31_custom_Range5Member" id="Fact001194" format="ixt:numdotdecimal" decimals="INF" unitRef="CADPShares">0.66</ix:nonFraction></span></span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_983_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_iI_c20231231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--Range5Member_zg2Z0q9IGgy9" title="Number outstanding" style="text-align: right"><ix:nonFraction name="us-gaap:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions" contextRef="AsOf2023-12-31_custom_Range5Member" id="Fact001196" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">200,000</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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</ix:nonNumeric><p id="xdx_8A9_z0hdmwCEbRy2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company recorded stock-based compensation of $<span id="xdx_905_eus-gaap--AllocatedShareBasedCompensationExpense_c20230101__20231231__us-gaap--PlanNameAxis__custom--StockOptionPlan2015Member_zbASoqXglXW5" title="Share-based payment arrangement, expense"><ix:nonFraction name="us-gaap:AllocatedShareBasedCompensationExpense" contextRef="From2023-01-012023-12-31_custom_StockOptionPlan2015Member" id="Fact001214" format="ixt:numdotdecimal" decimals="0" unitRef="USD">515,116</ix:nonFraction></span> on the options granted and vested (2022 &#8211; $<span id="xdx_903_eus-gaap--AllocatedShareBasedCompensationExpense_c20220101__20221231__us-gaap--PlanNameAxis__custom--StockOptionPlan2015Member_zSrDmrouY1d7" title="Share-based payment arrangement, expense"><ix:nonFraction name="us-gaap:AllocatedShareBasedCompensationExpense" contextRef="From2022-01-012022-12-31_custom_StockOptionPlan2015Member" id="Fact001216" format="ixt:numdotdecimal" decimals="0" unitRef="USD">696,248</ix:nonFraction></span>; 2021 - $<span id="xdx_906_eus-gaap--AllocatedShareBasedCompensationExpense_c20210101__20211231__us-gaap--PlanNameAxis__custom--StockOptionPlan2015Member_zZ8F2m645wN2" title="Share-based payment arrangement, expense"><ix:nonFraction name="us-gaap:AllocatedShareBasedCompensationExpense" contextRef="From2021-01-012021-12-31_custom_StockOptionPlan2015Member" id="Fact001218" format="ixt:numdotdecimal" decimals="0" unitRef="USD">660,266</ix:nonFraction></span>) and
as per the Black-Scholes option-pricing model, with a weighted average fair value per option grant of $<span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_c20230101__20231231__us-gaap--PlanNameAxis__custom--StockOptionPlan2015Member_zwUFQCWADqac" title="Share-based compensation arrangement, weighted average grant"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" contextRef="From2023-01-012023-12-31_custom_StockOptionPlan2015Member" id="Fact001220" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.29</ix:nonFraction></span> (2022 - $<span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_c20220101__20221231__us-gaap--PlanNameAxis__custom--StockOptionPlan2015Member_zJ5tiMbiO5Uh" title="Share-based compensation arrangement, weighted average grant"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" contextRef="From2022-01-012022-12-31_custom_StockOptionPlan2015Member" id="Fact001222" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.42</ix:nonFraction></span>; 2021 - $<span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_c20210101__20211231__us-gaap--PlanNameAxis__custom--StockOptionPlan2015Member_zr6Jay0RcSR9" title="Share-based compensation arrangement, weighted average grant"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" contextRef="From2021-01-012021-12-31_custom_StockOptionPlan2015Member" id="Fact001224" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.45</ix:nonFraction></span>).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-transform: uppercase; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kidoz
Inc. <span style="text-transform: none">and subsidiaries</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9.05pt; text-align: justify; text-indent: -9.05pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed
in United States Dollars)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes
to Consolidated Financial Statements</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Years
ended December 31, 2023, 2022 and 2021</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>


</ix:nonNumeric><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact001226" name="us-gaap:FairValueDisclosuresTextBlock"><p id="xdx_80C_eus-gaap--FairValueDisclosuresTextBlock_zUq5iI2DMoch" style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">11. <span id="xdx_82F_z4S2UoTMcbIh">Fair
value measurement</span>:</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Except
for derivative liability &#8211; warrant that was measured at level 3 inputs in the three-tier fair value hierarchy, the Company does
not have any other financial instruments that are subsequently measured at fair value.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact001228" name="us-gaap:CommitmentsAndContingenciesDisclosureTextBlock"><p id="xdx_807_eus-gaap--CommitmentsAndContingenciesDisclosureTextBlock_z9UpZuvr9I7f" style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">12. <span id="xdx_82C_z6QHoSfEASm">Commitments</span>:</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company leases office facilities in Vancouver, British Columbia, Canada, British West Indies and Netanya, Israel. These office facilities
are leased under operating lease agreements.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2020, the Company signed a five-year lease for a facility in Vancouver, Canada, commencing April 1, 2020
and ending March 2024. The Company accounts for the lease in accordance with ASU 2016-02 (Topic 842) and recognizes a right-of-use asset
and operating lease liability. Subsequent to the year ended December 31, 2023, the lease on the Vancouver office expired and was not
renewed. Our Canadian staff will continue to work on a virtual basis.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Netanya, Israel operating lease expired on July 14, 2017, but unless 3 months&#8217; notice is given it automatically renews for a future
12 months until notice is given. During the year ended December 31, 2023, the lease was extended for a further 12 months. The renewal
of this lease is uncertain, hence the Company has accounted for this lease as a short-term lease.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact001230" name="srt:ContractualObligationFiscalYearMaturityScheduleTableTextBlock"><p id="xdx_893_esrt--ContractualObligationFiscalYearMaturityScheduleTableTextBlock_zBCj66HoJDD2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Minimum
lease payments under these leases are approximately as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span id="xdx_8BD_zrZ9y09cWv78" style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Schedule
of Minimum Lease Payments</span></p>

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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 80%; text-align: left">2024</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_ecustom--OperatingLeasesFutureMinimumPaymentsCurrent_iI_c20231231_zzILsrLApwB8" title="2024" style="width: 16%; text-align: right"><ix:nonFraction name="KDOZF:OperatingLeasesFutureMinimumPaymentsCurrent" contextRef="AsOf2023-12-31" id="Fact001232" format="ixt:numdotdecimal" decimals="0" unitRef="USD">60,460</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td></tr>
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</ix:nonNumeric><p id="xdx_8AA_zCIIiZ4Ng3Ib" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">The
Company paid rent expense totaling $<span id="xdx_903_eus-gaap--PaymentsForRent_pp0p0_c20230101__20231231_z3sNqTXtCXS3" title="Payments for rent"><ix:nonFraction name="us-gaap:PaymentsForRent" contextRef="From2023-01-01to2023-12-31" id="Fact001234" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">120,557</ix:nonFraction></span> for the year ended December 31, 2023 (2022 - $<span id="xdx_900_eus-gaap--PaymentsForRent_pp0p0_c20220101__20221231_zY5qA4j6sWH7" title="Payments for rent"><ix:nonFraction name="us-gaap:PaymentsForRent" contextRef="From2022-01-012022-12-31" id="Fact001236" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">130,308</ix:nonFraction></span>; 2021 - $<span id="xdx_90E_eus-gaap--PaymentsForRent_pp0p0_c20210101__20211231_zWNBvGHHxAn3" title="Payments for rent"><ix:nonFraction name="us-gaap:PaymentsForRent" contextRef="From2021-01-012021-12-31" id="Fact001238" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">129,250</ix:nonFraction></span>).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact001240" name="us-gaap:ScheduleOfRelatedPartyTransactionsTableTextBlock"><p id="xdx_896_eus-gaap--ScheduleOfRelatedPartyTransactionsTableTextBlock_zKkMgG3S7DUa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company has the following management consulting agreements with related parties.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BE_zaDBRagOJeDd" style="display: none">Schedule of Consulting Agreement with Related Parties</span></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: 0.25in">
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    <td style="border-bottom: Black 1.5pt solid; text-align: justify">Person</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: justify">Role</td><td style="padding-bottom: 1.5pt">&#160;</td>
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    <td style="width: 24%; text-align: justify">T. M. Williams</td><td style="width: 2%">&#160;</td>
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    <td style="text-align: justify">Bromley Accounting <br/>Services Ltd.</td><td>&#160;</td>
    <td style="text-align: justify">H. W. Bromley</td><td>&#160;</td>
    <td style="text-align: justify">CFO</td><td>&#160;</td>
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    <td style="text-align: justify; padding-bottom: 1.5pt">T. H. Williams</td><td style="padding-bottom: 1.5pt">&#160;</td>
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</ix:nonNumeric><p id="xdx_8AA_zwOlKr2LqS44" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2022, Mr. J. M. Williams, the Company&#8217;s CEO, became an employee of Shoal Media (Canada) Inc.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
at December 31, 2023, the Company had a number of renewable license commitments with large brands, including, Mr. Men and Little Miss
and Mr. Bean. These agreements have commitments to pay royalties on the revenue from the licenses subject to the minimum guarantee payments.
As at December 31, 2023, there were no further minimum guarantee payments commitments.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">The
Company expensed the minimum guarantee payments over the life of the agreement and recognized license expense of $<span id="xdx_901_eus-gaap--RoyaltyExpense_c20230101__20231231_znI01rl0QE19" title="Royalty expense"><ix:nonFraction name="us-gaap:RoyaltyExpense" contextRef="From2023-01-01to2023-12-31" id="Fact001248" format="ixt:numdotdecimal" decimals="0" unitRef="USD">19,868</ix:nonFraction></span> (2022 - $<span id="xdx_90D_eus-gaap--RoyaltyExpense_c20220101__20221231_zoab0hKTBCMa" title="Royalty expense"><ix:nonFraction name="us-gaap:RoyaltyExpense" contextRef="From2022-01-012022-12-31" id="Fact001250" format="ixt:numdotdecimal" decimals="0" unitRef="USD">14,090</ix:nonFraction></span>;
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</ix:nonNumeric><p id="xdx_812_z9ifuQDt4Hhd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">&#160;</p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-transform: uppercase; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kidoz
Inc. <span style="text-transform: none">and subsidiaries</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9.05pt; text-align: justify; text-indent: -9.05pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed
in United States Dollars)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes
to Consolidated Financial Statements</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Years
ended December 31, 2023, 2022 and 2021</span></p>

<!-- Field: Rule-Page --><div style="margin: 0pt auto; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>


<ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact001254" name="us-gaap:IncomeTaxDisclosureTextBlock"><p id="xdx_80F_eus-gaap--IncomeTaxDisclosureTextBlock_zn9iHIaK8Dzd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>13.
<span id="xdx_823_z8ak0PoJjI05">Income taxes</span>:</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
at December 31, 2022, Kidoz Inc. was domiciled in the tax-free jurisdiction of Anguilla, British West Indies. However certain of the
Company&#8217;s subsidiaries incur income taxation. Effective January 1, 2023, the Company continued out of Anguilla and into Canada
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span id="xdx_8B0_z3di0XDrjp0h" style="display: none">Schedule
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</ix:nonNumeric><p id="xdx_8A2_zi8snzNtX5Ca" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17.85pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17.85pt; text-align: justify"><span id="xdx_8BC_zRU0ec8ngpwl" style="display: none">Schedule
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    <td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt">Valuation Allowance</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr id="xdx_409_eus-gaap--DeferredTaxLiabilities_i01NTI_di_mtDTLzc9F_zaLL3Omgu2zg" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 2.5pt">Total deferred tax (liability) asset</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1310">-</span></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1311">-</span></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr>
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</ix:nonNumeric><p id="xdx_8A3_zc2mLINtUBid" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
at December 31, 2023, the Company&#8217;s had $<span id="xdx_904_ecustom--NoncapitalLossAmount_iI_c20231231_zePkFGSyYNZb" title="Non-capital loss amount"><ix:nonFraction name="KDOZF:NoncapitalLossAmount" contextRef="AsOf2023-12-31" id="Fact001313" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,490,165</ix:nonFraction></span> (2022 - $<span id="xdx_90A_ecustom--NoncapitalLossAmount_iI_c20221231_zb80DR5xcUN4" title="Non-capital loss amount"><ix:nonFraction name="KDOZF:NoncapitalLossAmount" contextRef="AsOf2022-12-31" id="Fact001315" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,023,314</ix:nonFraction></span>) of non-capital losses expiring through December 31, 2043.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all
of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of
future taxable income during the periods in which those differences become deductible.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management
considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in assessing
the realizability of deferred tax assets.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company recognized this tax credit as a recovery of income tax expense on the statement of operations and comprehensive (loss) income
upon receipt of funds.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


<ix:exclude><!-- Field: Page; Sequence: 70; Value: 1 -->
    <div style="border-bottom: Black 1.5pt solid; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->27<!-- Field: /Sequence --></td></tr></table></div>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-transform: uppercase; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kidoz
Inc. <span style="text-transform: none">and subsidiaries</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9.05pt; text-align: justify; text-indent: -9.05pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed
in United States Dollars)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes
to Consolidated Financial Statements</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Years
ended December 31, 2023, 2022 and 2021</span></p>

<!-- Field: Rule-Page --><div style="margin: 0pt auto; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>


</ix:nonNumeric><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact001317" name="us-gaap:LesseeOperatingLeasesTextBlock"><p id="xdx_806_eus-gaap--LesseeOperatingLeasesTextBlock_zRxm3BFhCcal" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>14. <span id="xdx_82E_zkXTKyRV9pQk">Right-of-use assets</span>:</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Effective
April 1, 2019, we recognized lease assets and liabilities of $<span id="xdx_901_eus-gaap--OperatingLeaseLiability_iI_pp0p0_c20190401__us-gaap--LeaseContractualTermAxis__custom--FacilityInVancouverCanadaMember_zX5fgztzWBq5" title="Operating lease liability"><ix:nonFraction name="us-gaap:OperatingLeaseLiability" contextRef="AsOf2019-04-01_custom_FacilityInVancouverCanadaMember" id="Fact001319" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">125,474</ix:nonFraction></span>, in relation to the Vancouver office. We estimated a discount rate
of <span id="xdx_900_eus-gaap--LesseeOperatingLeaseDiscountRate_iI_pid_dp_uPure_c20190401__us-gaap--LeaseContractualTermAxis__custom--FacilityInVancouverCanadaMember_z1ymqeYdPvs5" title="Discount rate"><ix:nonFraction name="us-gaap:LesseeOperatingLeaseDiscountRate" contextRef="AsOf2019-04-01_custom_FacilityInVancouverCanadaMember" id="Fact001321" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">4.12</ix:nonFraction></span>%.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
elected the package of practical expedients permitted under the transition guidance within Topic 842, which allowed us to carry forward
prior conclusions about lease identification, classification and initial direct costs for leases entered into prior to adoption of Topic
842.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additionally,
we elected to not separate lease and non-lease components for all of our leases. For leases with a term of 12 months or less, our current
offices, we elected the short-term lease exemption, which allowed us to not recognize right-of-use assets or lease liabilities for qualifying
leases existing at transition and new leases we may enter into in the future, as there is significant uncertainty on whether the leases
will be renewed.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact001323" name="KDOZF:ScheduleOfRightofuseAssetsTableTextBlock"><p id="xdx_89E_ecustom--ScheduleOfRightofuseAssetsTableTextBlock_zyrQE57HgAej" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
right-of-use assets as at December 31, 2023, is summarized as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 21.25pt"><span id="xdx_8B9_zp2gRdhwlkm1" style="display: none">Schedule of Right-of-use Assets</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 96%; margin-left: 0.25in">
  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" id="xdx_497_20230101__20231231_zlSWqXrkE1tf" style="border-bottom: Black 1.5pt solid; text-align: right">2023</td><td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" id="xdx_492_20220101__20221231_zLlTezvPzYAi" style="border-bottom: Black 1.5pt solid; text-align: right">2022</td><td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" id="xdx_494_20210101__20211231_zqMdJuD8IQX7" style="border-bottom: Black 1.5pt solid; text-align: right">2021</td><td style="padding-bottom: 1.5pt">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td>&#160;</td>
    <td colspan="2" style="text-align: right">&#160;</td><td>&#160;</td><td>&#160;</td>
    <td colspan="2" style="text-align: right">&#160;</td><td>&#160;</td><td>&#160;</td>
    <td colspan="2" style="text-align: right">&#160;</td><td>&#160;</td></tr>
  <tr id="xdx_405_eus-gaap--OperatingLeaseRightOfUseAsset_iS_zJ4CJ6pOPBs7" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 46%; text-align: justify">Opening balance for the year</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"><ix:nonFraction name="us-gaap:OperatingLeaseRightOfUseAsset" contextRef="AsOf2022-12-31" id="Fact001325" format="ixt:numdotdecimal" decimals="0" unitRef="USD">36,529</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"><ix:nonFraction name="us-gaap:OperatingLeaseRightOfUseAsset" contextRef="AsOf2021-12-31" id="Fact001326" format="ixt:numdotdecimal" decimals="0" unitRef="USD">65,464</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"><ix:nonFraction name="us-gaap:OperatingLeaseRightOfUseAsset" contextRef="AsOf2020-12-31" id="Fact001327" format="ixt:numdotdecimal" decimals="0" unitRef="USD">106,315</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td></tr>
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    <td style="text-align: justify; padding-bottom: 1.5pt">Amortization and expiration of operating lease right-of use assets</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(<ix:nonFraction name="us-gaap:OperatingLeaseRightOfUseAssetAmortizationExpense" contextRef="From2023-01-01to2023-12-31" id="Fact001329" format="ixt:numdotdecimal" decimals="0" unitRef="USD">29,748</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(<ix:nonFraction name="us-gaap:OperatingLeaseRightOfUseAssetAmortizationExpense" contextRef="From2022-01-012022-12-31" id="Fact001330" format="ixt:numdotdecimal" decimals="0" unitRef="USD">28,935</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(<ix:nonFraction name="us-gaap:OperatingLeaseRightOfUseAssetAmortizationExpense" contextRef="From2021-01-012021-12-31" id="Fact001331" format="ixt:numdotdecimal" decimals="0" unitRef="USD">40,851</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr>
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    <td style="text-align: justify; padding-bottom: 2.5pt">Closing balance for the year</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="us-gaap:OperatingLeaseRightOfUseAsset" contextRef="AsOf2023-12-31" id="Fact001333" format="ixt:numdotdecimal" decimals="0" unitRef="USD">6,781</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="us-gaap:OperatingLeaseRightOfUseAsset" contextRef="AsOf2022-12-31" id="Fact001334" format="ixt:numdotdecimal" decimals="0" unitRef="USD">36,529</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="us-gaap:OperatingLeaseRightOfUseAsset" contextRef="AsOf2021-12-31" id="Fact001335" format="ixt:numdotdecimal" decimals="0" unitRef="USD">65,464</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr>
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</ix:nonNumeric><p id="xdx_8A6_zWbG8zFrR0h9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact001337" name="us-gaap:LesseeOperatingLeaseLiabilityMaturityTableTextBlock"><p id="xdx_891_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_zJGVPPY9SUd6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
operating lease as at December 31, 2023, is summarized as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 21.25pt"><span id="xdx_8B0_zRApHbC8b5O8" style="display: none">Schedule
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  <tr style="vertical-align: bottom">
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</ix:nonNumeric><p id="xdx_8A3_zlUQCGdWqpt3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 96%; margin-left: 0.25in">
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  <tr id="xdx_409_eus-gaap--OperatingLeaseLiability_iE_z2YNcdrkmmja" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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<ix:exclude><!-- Field: Page; Sequence: 71; Value: 1 -->
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-transform: uppercase; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kidoz
Inc. <span style="text-transform: none">and subsidiaries</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9.05pt; text-align: justify; text-indent: -9.05pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed
in United States Dollars)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Years
ended December 31, 2023, 2022 and 2021</span></p>

<!-- Field: Rule-Page --><div style="margin: 0pt auto; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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  <tr id="xdx_40E_eus-gaap--SellingGeneralAndAdministrativeExpense_zuaG4uVq6lIg" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 10pt; text-align: justify">Selling and marketing</td><td>&#160;</td>
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  <tr id="xdx_406_eus-gaap--ResearchAndDevelopmentExpenseSoftwareExcludingAcquiredInProcessCost_zVtlf9S9k0ub" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 10pt; text-align: justify; padding-bottom: 1.5pt">Software technology development (Note 8)</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr id="xdx_408_eus-gaap--OperatingCostsAndExpenses_zOgDZcfdaqSf" style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify; padding-bottom: 1.5pt">Closing balance for the year</td><td style="padding-bottom: 1.5pt">&#160;</td>
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction name="us-gaap:OperatingCostsAndExpenses" contextRef="From2021-01-012021-12-31_us-gaap_RelatedPartyMember" id="Fact001407" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,150,589</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
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</ix:nonNumeric><p id="xdx_8A4_zEeU0JpKQ5xl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company has liabilities of $<span id="xdx_90E_eus-gaap--OtherLiabilitiesCurrent_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DirectorAndOfficerMember_zFHFmzTMm9el" title="Due to related parties"><ix:nonFraction name="us-gaap:OtherLiabilitiesCurrent" contextRef="AsOf2023-12-31_custom_DirectorAndOfficerMember" id="Fact001409" format="ixt:numdotdecimal" decimals="0" unitRef="USD">79,852</ix:nonFraction></span> (2022 - $<span id="xdx_906_eus-gaap--OtherLiabilitiesCurrent_iI_c20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DirectorAndOfficerMember_zA9kPrrDhqC9" title="Due to related parties"><ix:nonFraction name="us-gaap:OtherLiabilitiesCurrent" contextRef="AsOf2022-12-31_custom_DirectorAndOfficerMember" id="Fact001411" format="ixt:numdotdecimal" decimals="0" unitRef="USD">80,874</ix:nonFraction></span>) as at December 31, 2023, to current directors, officers and companies owned by the
current directors and officers of the Company for employment, director and consulting fees.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2023, the Company granted <span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DirectorAndOfficerMember__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zAY5DAQzAWYa" title="Number of options granted"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" contextRef="From2023-01-012023-12-31_custom_DirectorAndOfficerMember_us-gaap_EmployeeStockOptionMember" id="Fact001413" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">400,000</ix:nonFraction></span> options with an exercise price of CAD$<span id="xdx_90B_eus-gaap--SharesIssuedPricePerShare_iI_uCADPShares_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DirectorAndOfficerMember__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zaeoTjQfuSf3" title="Shares issued, price per share"><ix:nonFraction name="us-gaap:SharesIssuedPricePerShare" contextRef="AsOf2023-12-31_custom_DirectorAndOfficerMember_us-gaap_EmployeeStockOptionMember" id="Fact001415" format="ixt:numdotdecimal" decimals="INF" unitRef="CADPShares">0.30</ix:nonFraction></span> ($<span id="xdx_90E_eus-gaap--SharesIssuedPricePerShare_iI_c20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DirectorAndOfficerMember_zXg2aiiubDhd" title="Shares issued, price per share"><ix:nonFraction name="us-gaap:SharesIssuedPricePerShare" contextRef="AsOf2023-12-31_custom_DirectorAndOfficerMember_us-gaap_EmployeeStockOptionMember" id="Fact001417" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.22</ix:nonFraction></span>) per share to current
directors and officers of the Company. Subsequent to the year ended December 31, 2023, the Company granted <span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20240101__20240424__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DirectorAndOfficerMember__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zEW6TqahSfQ" title="Number of options granted"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" contextRef="From2024-01-012024-04-24_custom_DirectorAndOfficerMember_us-gaap_EmployeeStockOptionMember_us-gaap_SubsequentEventMember" id="Fact001419" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1,056,250</ix:nonFraction></span> options with an
exercise price of CAD$<span id="xdx_905_eus-gaap--SharesIssuedPricePerShare_iI_uCADPShares_c20240424__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DirectorAndOfficerMember__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zP4QPsL7IkU7" title="Shares issued, price per share"><ix:nonFraction name="us-gaap:SharesIssuedPricePerShare" contextRef="AsOf2024-04-24_custom_DirectorAndOfficerMember_us-gaap_EmployeeStockOptionMember_us-gaap_SubsequentEventMember" id="Fact001421" format="ixt:numdotdecimal" decimals="INF" unitRef="CADPShares">0.20</ix:nonFraction></span> ($<span id="xdx_904_eus-gaap--SharesIssuedPricePerShare_iI_c20240424__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DirectorAndOfficerMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zoitmewP1A31" title="Shares issued, price per share"><ix:nonFraction name="us-gaap:SharesIssuedPricePerShare" contextRef="AsOf2024-04-24_custom_DirectorAndOfficerMember_us-gaap_EmployeeStockOptionMember_us-gaap_SubsequentEventMember" id="Fact001423" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.14</ix:nonFraction></span>) to current directors and officers of the Company.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2022, the Company granted <span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20220101__20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DirectorAndOfficerMember__us-gaap--AwardTypeAxis__custom--StockOptionOneMember_zPtuYFFZ5DZk" title="Number of options granted"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" contextRef="From2022-01-012022-12-31_custom_DirectorAndOfficerMember_custom_StockOptionOneMember" id="Fact001425" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">900,000</ix:nonFraction></span> options with an exercise price of CAD$<span id="xdx_909_eus-gaap--SharesIssuedPricePerShare_iI_pid_uCADPShares_c20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DirectorAndOfficerMember__us-gaap--AwardTypeAxis__custom--StockOptionOneMember_zqLjRD49iIC4" title="Shares issued, price per share"><ix:nonFraction name="us-gaap:SharesIssuedPricePerShare" contextRef="AsOf2022-12-31_custom_DirectorAndOfficerMember_custom_StockOptionOneMember" id="Fact001427" format="ixt:numdotdecimal" decimals="INF" unitRef="CADPShares">0.50</ix:nonFraction></span> ($<span id="xdx_901_eus-gaap--SharesIssuedPricePerShare_iI_pid_uUSDPShares_c20221231__us-gaap--AwardTypeAxis__custom--StockOptionOneMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DirectorAndOfficerMember_zlBMMNPWbN3" title="Shares issued, price per share"><ix:nonFraction name="us-gaap:SharesIssuedPricePerShare" contextRef="AsOf2022-12-31_custom_DirectorAndOfficerMember_custom_StockOptionOneMember" id="Fact001429" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.39</ix:nonFraction></span>) per share to current
directors and officers of the Company.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2021, the Company granted the following options to related parties:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a)
<span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20210101__20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DirectorAndOfficerMember__us-gaap--AwardTypeAxis__custom--StockOptionOneMember_zzYb5h41QVLg" title="Number of options granted"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" contextRef="From2021-01-012021-12-31_custom_DirectorAndOfficerMember_custom_StockOptionOneMember" id="Fact001431" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">400,000</ix:nonFraction></span> options with an exercise price of CAD$<span id="xdx_905_eus-gaap--SharesIssuedPricePerShare_iI_pid_uCADPShares_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DirectorAndOfficerMember__us-gaap--AwardTypeAxis__custom--StockOptionOneMember_zR6tiuMP5h3" title="Shares issued, price per share"><ix:nonFraction name="us-gaap:SharesIssuedPricePerShare" contextRef="AsOf2021-12-31_custom_DirectorAndOfficerMember_custom_StockOptionOneMember" id="Fact001433" format="ixt:numdotdecimal" decimals="INF" unitRef="CADPShares">0.50</ix:nonFraction></span> ($<span id="xdx_909_eus-gaap--SharesIssuedPricePerShare_iI_pid_uUSDPShares_c20211231__us-gaap--AwardTypeAxis__custom--StockOptionOneMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DirectorAndOfficerMember_z9ZciSFJOPKc" title="Shares issued, price per share"><ix:nonFraction name="us-gaap:SharesIssuedPricePerShare" contextRef="AsOf2021-12-31_custom_DirectorAndOfficerMember_custom_StockOptionOneMember" id="Fact001435" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.39</ix:nonFraction></span>) per share</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">b)
<span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20210101__20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DirectorAndOfficerMember__us-gaap--AwardTypeAxis__custom--StockOptionTwoMember_zvPSkD66f55" title="Number of options granted"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" contextRef="From2021-01-012021-12-31_custom_DirectorAndOfficerMember_custom_StockOptionTwoMember" id="Fact001437" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">400,000</ix:nonFraction></span> options with an exercise price of CAD$<span id="xdx_90B_eus-gaap--SharesIssuedPricePerShare_iI_pid_uCADPShares_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DirectorAndOfficerMember__us-gaap--AwardTypeAxis__custom--StockOptionTwoMember_zHgXyP6EFAf3" title="Shares issued, price per share"><ix:nonFraction name="us-gaap:SharesIssuedPricePerShare" contextRef="AsOf2021-12-31_custom_DirectorAndOfficerMember_custom_StockOptionTwoMember" id="Fact001439" format="ixt:numdotdecimal" decimals="INF" unitRef="CADPShares">1.02</ix:nonFraction></span> ($<span id="xdx_906_eus-gaap--SharesIssuedPricePerShare_iI_pid_uUSDPShares_c20211231__us-gaap--AwardTypeAxis__custom--StockOptionTwoMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DirectorAndOfficerMember_zOGWK5KEetB7" title="Shares issued, price per share"><ix:nonFraction name="us-gaap:SharesIssuedPricePerShare" contextRef="AsOf2021-12-31_custom_DirectorAndOfficerMember_custom_StockOptionTwoMember" id="Fact001441" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.80</ix:nonFraction></span>) per share</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
related party transactions are in the normal course of operations and were measured at the exchange amount, which is the amount of consideration
established and agreed to by the related parties.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact001443" name="us-gaap:SegmentReportingDisclosureTextBlock"><p id="xdx_802_eus-gaap--SegmentReportingDisclosureTextBlock_zFVUNarDsjm9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>16.
<span id="xdx_820_zh8WvQ4DKxaf">Segmented information</span>:</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company operates in reportable business segments, the sale of Ad tech advertising, programmatic advertising, and content revenue, including
the sale of in-app purchases on Trophy Bingo and Garfield&#8217;s Bingo; the premium purchase for Rooplay Originals and recurring subscription
revenues from Rooplay and Kidoz OS and the sale of licenses of Kidoz OS.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operating
segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation
by the chief operating decision maker, or decision-making group, in making decisions on how to allocate resources and assess performance.
The Company&#8217;s chief operating decision makers are the Chairman, Chief Executive Officer and President. The Company and the chief
decision makers view the Company&#8217;s operations and manage its business as three operating segments, namely Ad tech advertising,
programmatic advertising, and content revenue.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


<ix:exclude><!-- Field: Page; Sequence: 72; Value: 1 -->
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">&#160;</p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-transform: uppercase; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kidoz
Inc. <span style="text-transform: none">and subsidiaries</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9.05pt; text-align: justify; text-indent: -9.05pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed
in United States Dollars)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes
to Consolidated Financial Statements</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Years
ended December 31, 2023, 2022 and 2021</span></p>

<!-- Field: Rule-Page --><div style="margin: 0pt auto; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>16.
Segmented information: (Continued) </b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

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</ix:nonNumeric><p id="xdx_8AF_ziZCE7DVr0Bd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 17.85pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 17.85pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Equipment</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 17.85pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17.85pt; text-align: justify"><span id="xdx_8B9_zotJT6LEIKc" style="display: none">Schedule
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</ix:nonNumeric><p id="xdx_8A0_zIjkGwlnMyk4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>


<ix:exclude><!-- Field: Page; Sequence: 73; Value: 1 -->
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-transform: uppercase; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kidoz
Inc. <span style="text-transform: none">and subsidiaries</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9.05pt; text-align: justify; text-indent: -9.05pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed
in United States Dollars)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes
to Consolidated Financial Statements</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Years
ended December 31, 2023, 2022 and 2021</span></p>

<!-- Field: Rule-Page --><div style="margin: 0pt auto; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>


</ix:nonNumeric><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact001532" name="KDOZF:GeneralAndAdministrationTextBlock"><p id="xdx_80C_ecustom--GeneralAndAdministrationTextBlock_zlG7NRqbZIik" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>17. <span id="xdx_821_zokZMhC8nSd8">General
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact001534" name="KDOZF:ScheduleOfGeneralAndAdministrativeExpenseTableTextBlock"><p id="xdx_89E_ecustom--ScheduleOfGeneralAndAdministrativeExpenseTableTextBlock_zknIatSWpq4k" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 17.85pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">General
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 17.85pt"><span id="xdx_8B4_zCpvXOOdVftc" style="display: none">Schedule of General and Administrative Expense</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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</ix:nonNumeric><p id="xdx_8A2_zJcO3v9m2n47" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact001560" name="KDOZF:StockAwarnessProgramTextBlock"><p id="xdx_80A_ecustom--StockAwarnessProgramTextBlock_z5GX8yu4ZHpj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>18. <span id="xdx_82A_zdghZ2Xtg8M1">Stock
awareness program</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2021, the Company commenced a corporate stock awareness program. The Company engaged Research Capital Corporation,
Agora Internet Relations Corp., Stockhouse Publishing Ltd., TSM Talk Shop Media and Proactive for financial and capital markets advisory
services and to assist with general market outreach to increase investor awareness as the Company continues to achieve important milestones
and grow its investor base. Stockhouse Publishing Ltd. campaign was discontinued in the year ended December 31, 2022 and TSM Talk Shop
Media was discontinued in the year ended December 31, 2023.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company incurred stock awareness expenses of $<span id="xdx_902_ecustom--StockAwarnessExpense_c20220101__20221231_zm1GbCkVhSfa" title="Stock awarness expense"><ix:nonFraction name="KDOZF:StockAwarnessExpense" contextRef="From2022-01-012022-12-31" id="Fact001568" format="ixt:numdotdecimal" decimals="0" unitRef="USD">402,845</ix:nonFraction></span> during the year ended December 31, 2022, of which $<span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20220101__20221231__dei--LegalEntityAxis__custom--ResearchCapitalCorporationMember_zcBhe2duMXcl" title="Issuance of stock value"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueNewIssues" contextRef="From2022-01-012022-12-31_custom_ResearchCapitalCorporationMember" id="Fact001570" format="ixt:numdotdecimal" decimals="0" unitRef="USD">179,293</ix:nonFraction></span> is from the issuance
of <span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20220101__20221231__dei--LegalEntityAxis__custom--ResearchCapitalCorporationMember_zf9vjf1haSVh" title="Issuance of common shares"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="From2022-01-012022-12-31_custom_ResearchCapitalCorporationMember" id="Fact001572" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">230,000</ix:nonFraction></span> common shares to RCC (Note 10) and a derivative liability of $<span id="xdx_906_eus-gaap--DerivativeFairValueOfDerivativeLiability_iI_c20221231_z8k7lJ0TFqac" title="Derivative liability"><ix:nonFraction name="us-gaap:DerivativeFairValueOfDerivativeLiability" contextRef="AsOf2022-12-31" id="Fact001574" format="ixt:numdotdecimal" decimals="0" unitRef="USD">83,572</ix:nonFraction></span> (Note 10) from the warrants granted.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact001576" name="us-gaap:ConcentrationRiskDisclosureTextBlock"><p id="xdx_807_eus-gaap--ConcentrationRiskDisclosureTextBlock_z1n2hZiu2tB1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>19 <span id="xdx_821_zHOZ309oN5n">Concentrations</span>:
</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Major
customers</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 17.85pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2023, and 2022, the Company sold Ad tech revenue; sold subscriptions on its site Rooplay; sold in-app purchases
on its social bingo sites, Trophy Bingo and Garfield&#8217;s Bingo and premium purchases of Rooplay Originals. During the year ended
December 31, 2023, the Company had revenues of $<span id="xdx_906_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20230101__20231231__srt--MajorCustomersAxis__custom--CustomerOneMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zJ9sImnlXBh7" title="Total revenue"><ix:nonFraction name="us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax" contextRef="From2023-01-012023-12-31_custom_CustomerOneMember_us-gaap_SalesRevenueNetMember_us-gaap_CustomerConcentrationRiskMember" id="Fact001578" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,927,239</ix:nonFraction></span> and $<span id="xdx_906_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20230101__20231231__srt--MajorCustomersAxis__custom--CustomerTwoMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zx3cQ7yNIfB" title="Total revenue"><ix:nonFraction name="us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax" contextRef="From2023-01-012023-12-31_custom_CustomerTwoMember_us-gaap_SalesRevenueNetMember_us-gaap_CustomerConcentrationRiskMember" id="Fact001580" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,716,205</ix:nonFraction></span>, from two customers (December 31, 2022 - three customers for
$<span id="xdx_904_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20220101__20221231__srt--MajorCustomersAxis__custom--CustomerOneMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zppJmUUOirgf" title="Total revenue"><ix:nonFraction name="us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax" contextRef="From2022-01-012022-12-31_custom_CustomerOneMember_us-gaap_SalesRevenueNetMember_us-gaap_CustomerConcentrationRiskMember" id="Fact001582" format="ixt:numdotdecimal" decimals="0" unitRef="USD">3,528,530</ix:nonFraction></span>, $<span id="xdx_90A_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20220101__20221231__srt--MajorCustomersAxis__custom--CustomerTwoMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zcFzC1Kpurb4" title="Total revenue"><ix:nonFraction name="us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax" contextRef="From2022-01-012022-12-31_custom_CustomerTwoMember_us-gaap_SalesRevenueNetMember_us-gaap_CustomerConcentrationRiskMember" id="Fact001584" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,293,798</ix:nonFraction></span>, and $<span id="xdx_907_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20220101__20221231__srt--MajorCustomersAxis__custom--CustomerThreeMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zhmri4MzbT17" title="Total revenue"><ix:nonFraction name="us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax" contextRef="From2022-01-012022-12-31_custom_CustomerThreeMember_us-gaap_SalesRevenueNetMember_us-gaap_CustomerConcentrationRiskMember" id="Fact001586" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,507,029</ix:nonFraction></span>; December 31, 2021 - three customers for $<span id="xdx_90E_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20210101__20211231__srt--MajorCustomersAxis__custom--CustomerOneMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zAnH19ttoYTf" title="Total revenue"><ix:nonFraction name="us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax" contextRef="From2021-01-012021-12-31_custom_CustomerOneMember_us-gaap_SalesRevenueNetMember_us-gaap_CustomerConcentrationRiskMember" id="Fact001588" format="ixt:numdotdecimal" decimals="0" unitRef="USD">3,373,241</ix:nonFraction></span>, $<span id="xdx_902_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20210101__20211231__srt--MajorCustomersAxis__custom--CustomerTwoMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zVfNNYpZLvG2" title="Total revenue"><ix:nonFraction name="us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax" contextRef="From2021-01-012021-12-31_custom_CustomerTwoMember_us-gaap_SalesRevenueNetMember_us-gaap_CustomerConcentrationRiskMember" id="Fact001590" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,522,559</ix:nonFraction></span> and $<span id="xdx_90B_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_c20210101__20211231__srt--MajorCustomersAxis__custom--CustomerThreeMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zhS7BlgwxAu2" title="Total revenue"><ix:nonFraction name="us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax" contextRef="From2021-01-012021-12-31_custom_CustomerThreeMember_us-gaap_SalesRevenueNetMember_us-gaap_CustomerConcentrationRiskMember" id="Fact001592" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,381,678</ix:nonFraction></span>) which was more
than 10% of the total revenue. The Company is reliant on the Google App, iOS App and Amazon App Stores to provide a content platform
for Rooplay, Trophy Bingo and Garfield&#8217;s Bingo to be played thereon and certain advertising agencies for the Ad tech revenue.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


<ix:exclude><!-- Field: Page; Sequence: 74; Value: 1 -->
    <div style="border-bottom: Black 1.5pt solid; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->31<!-- Field: /Sequence --></td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page --></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-transform: uppercase; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kidoz
Inc. <span style="text-transform: none">and subsidiaries</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9.05pt; text-align: justify; text-indent: -9.05pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed
in United States Dollars)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes
to Consolidated Financial Statements</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Years
ended December 31, 2023, 2022 and 2021</span></p>

<!-- Field: Rule-Page --><div style="margin: 0pt auto; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>


</ix:nonNumeric><ix:nonNumeric contextRef="From2023-01-01to2023-12-31" escape="true" id="Fact001594" name="KDOZF:ConcentrationCreditRiskTextBlock"><p id="xdx_809_ecustom--ConcentrationCreditRiskTextBlock_zjfdhYQWBpX2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>20. <span id="xdx_82D_zCxtjmd3C2A">Concentrations
of credit risk</span>:</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial
instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and accounts receivable.
The Company places its cash and cash equivalents with high quality financial institutions and limits the amount of credit exposure with
any one institution.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company currently maintains a substantial portion of its day-to-day operating cash and long-term cash equivalents balances at financial
institutions. At December 31, 2023, the Company had total cash of $<span id="xdx_90B_eus-gaap--Cash_iI_pp0p0_c20231231_zsBuGPQOeBoc" title="Cash"><ix:nonFraction name="us-gaap:Cash" contextRef="AsOf2023-12-31" id="Fact001596" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">1,493,071</ix:nonFraction></span> (2022 - $<span id="xdx_908_eus-gaap--Cash_iI_pp0p0_c20221231_z80qhWYonhP" title="Cash"><ix:nonFraction name="us-gaap:Cash" contextRef="AsOf2022-12-31" id="Fact001598" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">2,385,840</ix:nonFraction></span>) at financial institutions, where $<span id="xdx_90A_eus-gaap--CashUninsuredAmount_iI_pp0p0_c20231231_znRzTersFfbd" title="Cash, uninsured amount"><ix:nonFraction name="us-gaap:CashUninsuredAmount" contextRef="AsOf2023-12-31" id="Fact001600" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">1,266,481</ix:nonFraction></span>
(2022 - $<span id="xdx_904_eus-gaap--CashUninsuredAmount_iI_pp0p0_c20221231_zWl4p6U2HcF5" title="Cash, uninsured amount"><ix:nonFraction name="us-gaap:CashUninsuredAmount" contextRef="AsOf2022-12-31" id="Fact001602" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">2,150,761</ix:nonFraction></span>) is in excess of federally insured limits.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company has concentrations of credit risk with respect to accounts receivable, the majority of its accounts receivable are concentrated
geographically in the United States amongst a small number of customers.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2023, the Company had one customer, totaling $<span id="xdx_909_eus-gaap--AccountsReceivableNet_iI_c20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerOneMember_zEoqkfzL3Zbd" title="Accounts receivable, after allowance for credit loss"><ix:nonFraction name="us-gaap:AccountsReceivableNet" contextRef="AsOf2023-12-31_us-gaap_AccountsReceivableMember_us-gaap_CustomerConcentrationRiskMember_custom_CustomerOneMember" id="Fact001604" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,016,280</ix:nonFraction></span>, respectively who accounted for greater than 10% of the total
accounts receivable. As of December 31, 2022, the Company had three customers, totaling $<span id="xdx_90E_eus-gaap--AccountsReceivableNet_iI_c20221231__srt--MajorCustomersAxis__custom--CustomerOneMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zyUFWtGlzZ89" title="Accounts receivable"><span id="xdx_90E_eus-gaap--AccountsReceivableNet_iI_c20221231__srt--MajorCustomersAxis__custom--CustomerOneMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zti7PQi3fUZe" title="Accounts receivable"><ix:nonFraction name="us-gaap:AccountsReceivableNet" contextRef="AsOf2022-12-31_custom_CustomerOneMember_us-gaap_AccountsReceivableMember_us-gaap_CustomerConcentrationRiskMember" id="Fact001606" format="ixt:numdotdecimal" decimals="0" unitRef="USD"><ix:nonFraction name="us-gaap:AccountsReceivableNet" contextRef="AsOf2022-12-31_custom_CustomerOneMember_us-gaap_AccountsReceivableMember_us-gaap_CustomerConcentrationRiskMember" id="Fact001608" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,921,602</ix:nonFraction></ix:nonFraction></span></span>, $<span id="xdx_902_eus-gaap--AccountsReceivableNet_iI_c20221231__srt--MajorCustomersAxis__custom--CustomerTwoMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zJwu2WWedRI7" title="Accounts receivable"><ix:nonFraction name="us-gaap:AccountsReceivableNet" contextRef="AsOf2022-12-31_custom_CustomerTwoMember_us-gaap_AccountsReceivableMember_us-gaap_CustomerConcentrationRiskMember" id="Fact001610" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,061,177</ix:nonFraction></span>, and $<span id="xdx_902_eus-gaap--AccountsReceivableNet_iI_c20221231__srt--MajorCustomersAxis__custom--CustomerThreeMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_z3ash3FVoVG7" title="Accounts receivable"><ix:nonFraction name="us-gaap:AccountsReceivableNet" contextRef="AsOf2022-12-31_custom_CustomerThreeMember_us-gaap_AccountsReceivableMember_us-gaap_CustomerConcentrationRiskMember" id="Fact001612" format="ixt:numdotdecimal" decimals="0" unitRef="USD">920,736</ix:nonFraction></span> who accounted
for greater than 10% of the total accounts receivable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company controls credit risk through monitoring procedures and receiving prepayments of cash for services rendered. The Company performs
credit evaluations of its customers but generally does not require collateral to secure accounts receivable.</span></p>

</ix:nonNumeric><p id="xdx_818_zPzwriCsZ931" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>
</body>
</html>
[{"type": "20-F", "sequence": "1", "filename": "form20-f.htm", "secsgml_size_bytes": 1663509}]
{"company-data": {"conformed-name": "KIDOZ INC.", "cik": "0001318482", "assigned-sic": "7900", "organization-name": "07 Trade & Services", "irs-number": "000000000", "state-of-incorporation": "1A", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "20-F", "act": "34", "file-number": "333-120120-01", "film-number": "24877698"}, "business-address": {"street1": "PACIFIC BUSINESS CENTRE", "street2": "701 WEST GEORGIA STREET,  SUITE 1500", "city": "VANCOUVER", "state": "A1", "zip": "V7Y 1C6", "phone": "6046940300"}, "mail-address": {"street1": "PACIFIC BUSINESS CENTRE", "street2": "701 WEST GEORGIA STREET,  SUITE 1500", "city": "VANCOUVER", "state": "A1", "zip": "V7Y 1C6"}, "former-company": [{"former-conformed-name": "SHOAL GAMES LTD.", "date-changed": "20150202"}, {"former-conformed-name": "BINGO.COM LTD.", "date-changed": "20050222"}]}
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Form
20-F
(Mark
One)
☐
REGISTRATION
    STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934
OR
☒
ANNUAL
    REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For
the fiscal year ended
December 31
,
2023
OR
☐
TRANSITION
    REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
OR
☐
TRANSITION
    REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
OR
☐
SHELL
    COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date
of event requiring this shell company report
For
the transition period from __________________ to __________________
Commission
file number
333-120120-01
KIDOZ Inc.
(Exact
name of registrant as specified in its charter)
canada
(Jurisdiction
of incorporation or organization)
Pacific
Centre
,
Suite 1500
,
701 West Georgia Street
Vancouver
,
British Columbia
,
V7Y 1C6
Canada
(Address
of principal executive offices)
Henry
Bromley, Chief Financial Officer
Tel:
+
1 888
-
374-2163
; Facsimile +1 604-694-0301
Pacific
Centre
,
Suite 1500
,
701 West Georgia Street
Vancouver
,
British Columbia
,
V7Y 1C6
Canada
(Name,
Telephone, E-mail and/or Facsimile number and Address of Company Contact Person)
Securities
registered under Section 12(b) of the Exchange Act:
None
(Title
of Each Class & Name of each exchange on which registered)
Securities
registered under section 12(g) of the Exchange Act:
COMMON
STOCK, NO PAR VALUE PER SHARE
(Title
of class)
Securities
for which there is a reporting obligation pursuant to Section 15(d) of the Act.
None
(Title
of class)
Indicate
the number of outstanding shares of each of the issuer's classes of capital or common stock as of the close of the period covered
by the annual report.
131,304,499
common shares no par value.
Indicate
by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐
No
☒
If
this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section
13 or Section 15(d) of the Act. Yes ☐
No
☒
Indicate
by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)
has been subject to such filing requirements for the past 90 days.
Yes
☒ No ☐
Indicate
by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule
405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant
was required to submit such files).
Yes
☒ No ☐
Indicate
by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth
company. See definition of "large accelerated filer, "accelerated filer," and "emerging growth company"
in Rule 12b-2 of the Exchange Act.
Large
    accelerated filer
☐
Accelerated
    filer
☐
Non-accelerated
    filer
☒
Emerging
    growth company
☐
If
an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards† provided
pursuant to Section 13(a) of the Exchange Act.
†
The term "new or revised financial accounting standard" refers to any update issued by the Financial Accounting Standards
Board to its Accounting Standards Codification after April 5, 2012.
Indicate
by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness
of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b) by the registered
public accounting firm that prepared or issued its audit report.
☐
If
securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant
included in the filing reflect the correction of an error to previously issued financial statements.
☐
Indicate
by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive- based compensation
received by any of the registrant's executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐
Indicate
by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:
U.S. GAAP
☒
International
    Financial Reporting Standards as issued by the International Accounting Standards Board
☐
Other
☐
If
"Other" has been checked in response to the previous question, indicate by check mark which financial statement item the
registrant has elected to follow.
☐
Item 17 ☐ Item 18
If
this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange
Act). Yes ☐ No
☒
TABLE
OF CONTENTS
Introduction
1
Forward-Looking Statements
1
Summary of Risk Factors
2
PART I
3
ITEM
    1.
Identity of Directors, Senior Management and Advisers
3
ITEM
    2.
Offer Statistics and Expected Timetable
3
ITEM
    3.
Key Information
3
ITEM
    4.
Information on the Company
9
ITEM
    4A.
Unresolved Staff Comments
12
ITEM
    5.
Operating and Financial Review and Prospects
12
ITEM
    6.
Directors, Senior Management and Employees
22
ITEM
    7.
Major Shareholders and Related Party Transactions
27
ITEM
    8.
Financial Information
29
ITEM
    9.
The Offer and Listing
30
ITEM
    10.
Additional Information
30
ITEM
    11.
Quantitative and Qualitative Disclosures about Market Risk
34
ITEM
    12.
Description of Securities Other than Equity Securities
35
PART II
36
ITEM
    13.
Defaults, Dividend Arrearages and Delinquencies
36
ITEM
    14.
Material Modifications to the Rights of Security Holders and Use of Proceeds
36
ITEM
    15.
Controls and Procedures
36
ITEM
    16A.
Audit Committee Financial Expert
37
ITEM
    16B.
Code of Ethics
37
ITEM
    16C.
Principal Accountant Fees and Services
37
ITEM
    16D.
Exemptions from the Listing Standards for Audit Committees
37
ITEM
    16E.
Purchases of Equity Securities by the Company and Affiliated Purchasers
37
ITEM
    16F.
Change in Registrant's Certifying Accountants
38
ITEM
    16G.
Corporate Governance
38
ITEM
    16H.
Mine Safety Disclosure
39
ITEM
    16I.
Disclosure regarding Foreign Jurisdictions that Prevent Inspections
39
ITEM
    16J.
Insider Trading Policies
39
ITEM
    16K.
Cybersecurity
39
PART III
40
ITEM
    17.
Financial Statements
40
ITEM18.
Financial Statements
40
ITEM
    19.
Exhibits
40
Signatures
41
INTRODUCTION
This
annual report on Form 20-F for the year ended December 31, 2023, or this "annual report," should be read in conjunction with
our consolidated financial statements and notes thereto included in this annual report. Unless the context otherwise requires, all references
in this document to "the Company," "we," "us," and "our" refer to Kidoz Inc. and our
subsidiaries.
We
prepare our consolidated financial statements in accordance with accounting principles generally accepted in the United States of America
("US GAAP") applicable to annual financial information and with the rules and regulations of the United States Securities
and Exchange Commission.
As
used in this annual report, Company means Kidoz Inc. ("Kidoz") and the Company's wholly-owned subsidiaries (collectively
the "Company"). Information on the Company's website www.kidoz.net is not incorporated by reference into this annual
report.
FORWARD-LOOKING
STATEMENTS
This
Form 20-F Annual Report includes "forward-looking statements". A shareholder or prospective shareholder should bear this
in mind when assessing the Company's business. All statements included in this annual report, other than statements of historical
facts, including, without limitation, the statements located elsewhere herein regarding industry prospects and the Company's financial
position, are forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements
are reasonable, it can give no assurance that such expectations will prove to have been correct.
This
report on Form 20-F contains certain forward-looking information and forward-looking statements, within the meaning of Section 27A of
the Securities Act of 1933, as amended (the "U.S. Securities Act"), Section 21E of the Securities Exchange Act of 1934, as
amended (the "Exchange Act") and "forward-looking information" under Canadian securities laws (collectively referred
to herein as "forward-looking statements"). All documents incorporated herein by reference, as well as statements made in
press releases and oral statements that may be made by us or by officers, directors or employees acting on our behalf, that are not statements
of historical fact constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform
Act of 1995. These forward-looking statements relate to future events or the Company's future performance. Such forward-looking
statements involve known and unknown risks, uncertainties and other factors that could cause our actual results to be materially different
from historical results or from any future results expressed or implied by such forward-looking statements. Readers should consider statements
that include the terms "believe," "belief," "expect," "plan," "anticipate,"
"intend" or the like to be uncertain and forward-looking. In addition, all statements, trends, analyses and other information
contained in this report relative to trends in net sales, gross margin, anticipated expense levels and liquidity and capital resources,
constitute forward-looking statements. Particular attention should be paid to the facts of our limited operating history, the unpredictability
of our future revenues, our need for and the availability of capital resources, the evolving nature of our business model, and the risks
associated with systems development, management of growth and business expansion. Except as required by law, we undertake no obligation
to update any forward-looking statement, whether as a result of new information, future events or otherwise. All cautionary statements
made herein should be read as being applicable to all forward-looking statements wherever they appear. The forward-looking statements
contained in this Form 20-F are based on our current expectations and beliefs concerning future developments and their potential effects
on us taking into account information currently available to us. These forward-looking statements are subject to risks, uncertainties
and other factors, some of which are beyond our control, which could cause actual results to differ materially from this forecast or
anticipated in such forward-looking statements.
Page
1
SUMMARY
OF RISK FACTORS
Our
business is subject to numerous risks and uncertainties, including those described in Item 3.D "Risk Factors." You should
carefully consider these risks and uncertainties when investing in our ordinary shares. Principal risks and uncertainties affecting our
business include the following:
●
Future
    operating or financial results;
●
Fluctuations
    in currencies and interest rates;
●
General
    market conditions;
●
Regulations
    especially with regards to highly regulated market with a Children's Online Privacy Protection Rule ("COPPA") &
    General Data Protection Regulation ("GDPR");
●
Reliance
    on Apple and Google;
●
Expanding
    and growing company;
●
Reliance
    on key customers and suppliers;
●
Retaining
    and attracting customers;
●
No
    long term customer commitment;
●
Reliance
    on third parties such sales houses around the world and outsourced technology developers, advertising exchanges and other strategic
    partners;
●
Dependency
    on key management and personnel;
●
Children's
    advertising;
●
Market
    conditions;
●
Inappropriate
    advertisements;
●
Cybersecurity;
●
Technology;
●
Outages;
●
Cloud
    based servers;
●
Placing
    advertisements in the incorrect segment;
●
Additional
    financing;
●
Payment
    risks;
●
Changes
    in GAAP;
●
Competition;
●
Ad
    blockers;
●
Failure
    to access advertising inventory;
●
Fraud;
●
Catastrophic
    events;
●
Economic,
    Political and Market Conditions;
●
Market
    for common shares;
●
Volatility
    in the market;
●
Public
    Company implications;
●
Other
    factors discussed in "Item 3—Key Information—Risk Factors" of this annual report.
Page
2
PART
1
ITEM 1.
IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS
Not
applicable to Form 20-F filed as annual report.
ITEM 2.
OFFER STATISTICS AND EXPECTED TIMETABLE
Not
applicable to Form 20-F filed as annual report.
ITEM 3.
KEY INFORMATION
A.
Selected Financial Data
The
following table presents selected historical financial data which has been derived in part from our audited consolidated financial statements
included elsewhere in this annual report and should be read together with and qualified in its entirety by reference to such audited
consolidated financial statements. The following table should be read together with "Item 5—Operating and Financial Review
and Prospects."
Consolidated
Balance Sheet Data:
2023
2022
2021
Cash
$
1,469,224
$
2,363,530
$
2,078,607
Total assets
11,807,080
14,387,083
13,925,531
Total liabilities
4,612,778
5,695,324
4,574,834
Total stockholders' equity
7,194,302
8,691,759
9,350,697
Working capital
3,220,646
4,147,176
4,536,852
Consolidated
Statement of Operations Data for continuing operations:
2023
2022
2021
Revenue
$
13,326,824
$
15,097,056
$
12,484,639
Cost of sales
8,392,767
9,973,211
7,152,307
Gross (loss) profit
4,934,057
5,123,845
5,332,332
Operating expenses excluding interest and other income (expenses)
(6,153,451
)
(5,897,412
)
(4,357,188
)
Amortization and expiration of right-of-use assets
(29,748
)
(28,935
)
(40,851
)
Depreciation and amortization
(558,740
)
(557,267
)
(565,540
)
Gain on derivative liability – warrants
51
23,314
60,207
Interest and other income
1,049
185
241
Income tax recovery / (expense)
25,978
150,489
(216,677
)
Provision for doubtful receivables
(84,952
)
-
-
Stock awareness program
(146,300
)
(161,332
)
(402,845
)
Net (loss) income
$
(2,012,056
)
$
(1,347,113
)
$
(190,321
)
Basic and diluted net (loss) income per share from continuing operations
$
(0.02
)
$
(0.01
)
$
(0.00
)
Weighted average common shares outstanding
131,305,254
131,481,983
131,340,989
Page
3
Consolidated
Cash flow data:
2023
2022
2021
Net cash (used in) provided by operating activities
$
(823,640
)
$
433,745
$
851,533
Net cash used in investing activities
(8,714
)
(26,533
)
(384
)
Net cash (used in) provided by financing activities
(61,952
)
(122,289
)
1,413
Change in cash
(895,306
)
284,923
852,562
Cash
$
1,469,224
$
2,363,530
$
2,078,607
B.
Capitalization and Indebtedness
Not
Applicable.
C.
Reasons for the Offer and Use of Proceeds
Not
Applicable.
D.
Risk Factors
The
Company's business is subject to numerous risks and uncertainties, including those described elsewhere in this MD&A, as well
as general economic and market risks. The following discussion describes material risks and uncertainties that the Company has identified
that may affect the Company's results of operations and financial condition.
Risks
Related to the Business
●
Regulations
- The Company operates in a highly regulated market with a Children's Online Privacy Protection Rule ("COPPA")
    & General Data Protection Regulation ("GDPR"). There is the risk that the regulations restrict the Company operations.
    The Company serves compliant contextual mobile advertising network that safely reaches hundreds of million kids, teens, and families
    every month.
●
Reliant
    on Google and Apple
- The Company is heavily reliant on Google and Apple, on whose platform the games where we advertise are
    hosted. The Company has been Google certified and has been approved by Apple.
●
Expanding
    Company
- the Company is a growing and expanding company. The Company's revenues may be materially affected by the decisions
    of its management and/or customers, and due to a variety of other factors, many of which may be beyond the Company's control.
    This may lead to expenses exceeding estimates or be incurred in the expectation of sales that do not occur or that occur later than
    expected. Management expects expenses to increase, especially hiring of additional staff to support its growth and expansion. Fluctuating
    results could cause unanticipated quarterly losses and cause the Company's performance to fall below the expectations of investors,
    which could adversely affect the price of the common shares. The following will cause fluctuating results:
○
Changes
    in demand for Kidoz Platform
○
Changes
    in the Company's customer base, additions, and losses of customers
○
Changes
    in advertising budgets of our customers
○
Changes
    in the availability of advertising inventory or in the cost of reaching customers through digital advertising.
○
Disruptions
    or outages on the Kidoz platform.
○
New
    technology or offering by the Kidoz competitors.
○
Timing
    differences between our payments for advertising inventory and our collection of advertising revenue.
○
Shifting
    views and behaviors of consumers concerning use of data.
Page
4
Based
upon the factors above and others beyond the Company's control, Kidoz forecasts future revenue, costs, and expenses, and continually
reviews these forecasts. As a result, its operating results may, from time to time, fall below estimates or the expectations of securities
analysts and investors.
●
Managing
    growth
- The Company has expanded rapidly over the last few years. The continued rapid growth of the Company may strain management,
    financial, technical, and other resources. The Company must expand its sales, marketing, technology, and operational staff and expand
    its controls. If Kidoz continues its rapid growth, it will incur additional expenses, and its growth may continue to place a strain
    on resources, infrastructure, and ability to maintain the quality of its offering. Accordingly, the Company may not be able to effectively
    manage and coordinate growth to achieve or maximize future profitability.
●
Reliance
    on Key Customers
- The Company is reliant on a relatively few customers and sales houses. The loss of a significant customer
    could harm the Company's business and severely impact the future financial success of the Company. The Company is continually
    looking for new sales houses around the world to partner with.
●
Retaining
    and attracting customers
- The Company, to continue to grow, must attract new customers and encourage existing advertisers to
    purchase additional offerings. Our competitors may introduce lower costs or differentiated products or services that compete with
    our current offering on price or technology and therefore our sales are impaired. The Company has hired additional sales staff and
    is continually developing its technology.
●
No
    long-term customer commitments
- The Company does not have any long term commitments by its customers beyond the current insertion
    order, which can be cancelled prior to the campaign conclusion without any penalty. Therefore, the Company success is dependent on
    offering the best service and maintaining good customer relations. The Company allocates customer service personnel to manage the
    customer relationship.
●
Reliance
    on third parties
- the Company is reliant on third parties to operate. These third parties include external sales houses, outsourced
    technology developers, advertising exchanges and other strategic partners. If these third parties fail to perform as agreed could
    negatively affect our operations.
●
Personnel
- The loss of any member of the Company's management team, could have a material adverse effect on its business and results
    of operations. The Company relies on its engineering staff to develop its technology; operations staff to manage and operate the
    campaigns and its sales teams to attract and retain key customers. The inability to hire, or the increased costs of new personnel,
    or the cost to maintain existing personnel could have a material adverse effect on the Company's business and operating results.
    There is intense competition for capable personnel in all of these areas, and the Company may not be successful in attracting, training,
    integrating, motivating, or retaining new personnel, vendors, or subcontractors for these required functions. The growth of the Company
    is dependent on hiring additional personnel so there are additional costs in training these new personnel.
●
Children
    advertising
- The Company is dependent on advertising to children so therefore is affected by changes to this business segment.
    The Company is expanding into advertising to teens and families and to be less reliant on advertising to children.
●
Market
    conditions
- The economic uncertainty in the market has made and may continue to make it difficult for the Company to forecast
    revenue and operating results and to make decisions regarding operational cost structures and investments. The Company's business
    depends on the overall demand for advertising and on the economic health of its customers. Economic downturns or unstable market
    conditions may cause the Company's customers to decrease their advertising budgets, which could reduce usage of the Company's
    platform and adversely affect its business, operating results, and financial condition.
Page
5
●
Inappropriate
    advertisement
- This is the risk that the Company serves an inappropriate advertisement. To mitigate this risk all adverts are
    human reviewed before the campaign commences.
●
Cybersecurity
- Cybersecurity attacks, including breaches, computer malware and computer hacking have become more prevalent recent years across
    all businesses. Any cybersecurity breach caused by hacking, which involves efforts to gain unauthorized access to information or
    systems, or to cause intentional malfunctions or loss or corruption of data, software, hardware or other computer equipment, or the
    inadvertent transmission of computer viruses could adversely affect the business, financial condition, results of operations or reputation
    of the Company. The Company believes that it is taken reasonable steps to protect the security, integrity and confidentiality of
    the information collected, used, stored and disclosed, but there is no guarantee that in the future inadvertent (e.g., software bugs
    or other technical malfunctions, employee error or malfeasance, or other factors) or unauthorized data access or use will not occur
    despite its efforts in the past and in the future.
●
Technology
- The Company's future success is dependent on its ability to continue to develop and expand its products and technologies
    and to address the needs of its customers. The Company operates in an industry that is characterized by rapid technological change,
    frequent new product and service introductions and enhancements, uncertain product life cycles, changes in customer requirements,
    and evolving industry standards. The introduction of new products and new technologies, the emergence of new industry standards,
    or improvements to existing technologies could render the Company's platform obsolete or relatively less competitive.
●
Outages
- In addition, the Company operates 24/7 business so if outages were to occur it is critical for the technology to be restored
    in a timely manner. Any delay in restoring the systems will have a negative effect on its business, operating results, and financial
    condition.
●
Cloud
    based servers
- The Company's products and services involve storage using a third-party cloud-based hosting service. Any
    damage to, or failure of, the hosting service's systems generally could result in interruptions in the use of the Company's
    platform. Such interruptions may reduce the Company's revenue, and adversely the Company's ability to attract new customers.
    The Company's business will also be harmed if its customers and potential customers believe its products or services are unreliable.
●
Incorrect
    advertising
– The Company is developing a teens and family platform under its Prado brand. Therefore, there is the risk
    that an inappropriate advertisement is served to children, which could result in fines to the Company and have a negative effect
    on its business, operating results, and financial condition. The Company has put in internal controls that ensure no non children
    advertisement is served to children.
Financial
and Accounting Risks
●
Additional
    financing
- There can be no certainty that the Company's financial resources and revenue from sales will be sufficient
    for its future needs. The Company may need to incur significant expenses for growth, operations, research, and development, as well
    as sales and marketing and other unforeseen costs. The ability of the Company to arrange such financing in the future will depend
    in part upon the prevailing capital market conditions as well as the business performance of the Company. It may be difficult or
    impossible for the Company to obtain debt financing or equity financing on commercially acceptable terms. In addition, the issuance
    of common shares for an equity financing may have a negative effect on the existing shareholders of the Company such as dilution
    or negative sentiments in the market to the equity financing.
Page
6
●
Growth
– Kidoz anticipates continued growth that could require substantial financial and other resources to, among other things:
    (a) expand and develop product offerings; (b) improve technological infrastructure, including investing in its technology (c) cover
    general and administrative expenses, including legal, accounting, and other expenses; (d) cover sales and marketing expenses, including
    a significant expansion of the Company's direct sales organization. Investment in these, however, may not yield anticipated
    returns. Consequently, as costs increase, the Company may not be able to generate sufficient revenue to achieve or sustain profitability.
●
Payment
    risks
– If our customers do not pay, or dispute their invoices, then the business, operating results and financial condition
    may be adversely affected. In addition, if our customers do not pay in a timely manner will our operating results and financial condition
    may be adversely affected.
●
Internal
    Controls
- A failure to maintain an effective system of internal control over financial reporting could harm the Company's
    financial performance, its ability to raise capital and its continued listing on the TSX Venture Exchange. In addition, the Company
    is a small company so has limited segregation of duties. The Company is therefore reliant on the critical personnel and an increase
    in the risk of the failure of internal controls.
●
Changes
    to GAAP
– The Company's consolidated financial statements have been prepared in accordance with accounting principles
    generally accepted in the United States of America ("US GAAP"). There is a risk that changes to US GAAP will negatively
    affect the Company in terms of results and could become more difficult, time-consuming, or costly and increase demand on the Company's
    systems and resources to comply with this change.
Industry
Risk
●
Competition
– the advertising business is a highly competitive business. The Company offers niche advertising in a highly regulated
    business. However, there are few barriers to existing large advertising companies entering the market. Our existing customers could
    develop their own in-house solutions and therefore no longer advertise with us.
●
Ad
    blockers
– Consumers may load ad blocking software. This will affect our ability to serve advertisements and will therefore
    reduce our revenue.
●
Failure
    to access advertising inventory
– We must maintain a consistent supply of ad inventory. Our success depends on our ability
    to secure inventory on reasonable terms in multiple locations. The amount, quality, and cost of inventory available to the Company
    can change at any time. If our relationships with any of our significant suppliers were to cease, or if the material terms of these
    relationships were to change unfavourably, our business would be negatively impacted.
●
Fraud
– The Company operates as a technology and services provider in a dynamic ecosystem where fraud exists. Typical forms of
    fraud include robotic traffic, where robots mimic the behaviour of users in order to inflate the number of impressions, clicks, post
    clicks actions or other metrics associated with the ad. The Company reviews all ads and monitors the impression serving with our
    suppliers.
●
Catastrophic
    events
– We maintain cloud-based servers around the world, that deliver advertising campaigns for our advertisers. Any
    of its existing and future facilities may be harmed or rendered inoperable by attack or security intrusion by a computer hacker,
    natural or man-made disasters, including earthquakes, tornadoes, hurricanes, wildfires, floods, nuclear disasters, war, acts of terrorism
    or other criminal activities, infectious disease outbreaks and power outages, any of which may render it difficult or impossible
    for the Company to operate its business for some period of time. The Company maintains backup and disaster recovery plans to get
    back up and running as fast as possible.
Page
7
●
Economic,
    Political and Market Conditions
– Our business depends on the overall demand for advertising and on the economic health
    of our current and prospective advertisers. Economic downturns, including a recession, or instability in political or market conditions
    may cause current or new advertisers to reduce their advertising budgets. These conditions are impacted by events outside of the
    Company's control, such as the COVID-19 pandemic, may have a long-term impact on the global economy. Adverse economic conditions
    and general uncertainty about continued economic recovery are likely to affect the Company's business prospects. This uncertainty
    may cause general business conditions to deteriorate or become volatile, which could cause advertisers to delay, decrease or cancel
    campaigns, and expose the Company to increased credit risk on advertiser orders, which, in turn, could negatively impact its business,
    financial condition and results of operations. In addition, continued geopolitical turmoil in many parts of the world have and may
    continue to put pressure on global economic conditions, which could lead to reduced spending on advertising.
Risks
Related to the Common Shares and Corporate and Securities Law
●
Market
    for common shares
– The shares of the Company are illiquid. The Company has made efforts to improve the exposure of the
    Company through its stock awareness program and create a more active market for its shares. There are no assurances that our Stock
    Awareness campaigns will be effective to create a liquid market.
●
Volatility
    in the market
- Technology stocks have historically experienced high levels of volatility, and we cannot predict the prices at
    which our common shares will trade. Fluctuations in the market price of our common shares could cause an investor to lose all or
    part of their investment in our common shares. These fluctuations in the market price and volatility of our common shares can be
    caused by factors outside the control of the Company such the following:
○
The
    volatility in the market price and trading volume of technology companies in general especially large companies in the digital advertising
    industry (e.g. Google and Meta);
○
Changes
    in regulatory developments in Canada and the United States;
○
General
    economic conditions and trends, including global financial markets, global economies and general market conditions, such as interest
    rates;
○
Major
    catastrophic events (e.g. the war in the Ukraine);
○
Unexpected
    market reactions to the Company announcements.
As
a result, share prices of many technology companies have fluctuated in a manner unrelated or disproportionate to the operating performance
of those companies. In general, in the past, shareholders have filed securities class action litigation following periods of market volatility.
If Kidoz were to become involved in securities litigation, it could subject it to substantial costs, divert resources and the attention
of management from our business, and adversely affect our business.
●
Public
    Company implications
– The Company is listed on the Toronto Venture Stock Exchange and is therefore subject to its listing
    requirements. Compliance with these rules and regulations could become more difficult, time-consuming, or costly and increase demand
    on the Company's systems and resources.
Page
8
Item 4.
INFORMATION ON THE COMPANY
A.
History and development of the company.
Kidoz
Inc. are currently quoted on the TSX Venture Exchange in Canada under the symbol "KIDZ". We have not been subject to any
bankruptcy, receivership, or other similar proceedings.
During
the year ended December 31, 2023, Kidoz Inc. continued out of the jurisdiction of the Anguillian Business Companies Act, 2022, and into
the jurisdiction of the Canada Business Corporations Act ("CBCA").
The
Company was originally incorporated in the State of Florida on January 12, 1987.
On
January 22, 2015, Bingo.com, Ltd., the name of the Company at that time, filed Articles of Amendment with the Anguilla Registrar of Companies
changing its name to "Shoal Games Ltd.". Effective at the open of markets on January 27, 2015, the Common Shares commenced
trading under the new trading symbol "SGLDF" on the OTC-QB.
On
June 29, 2015, Shoal Games Ltd. filed a TSX Venture Exchange Listing Application for the TSX Venture Exchange listing and commenced trading
on July 2, 2015, under the symbol "SGW".
On
April 4, 2019, Shoal Games Ltd. filed Articles of Amendment with the Anguilla Registrar of Companies changing its name to "Kidoz
Inc.". Effective at the open of markets on April 9, 2019, the Common Shares commenced trading under the new trading symbol "KIDZ"
on the TSX Venture Exchange.
During
the year ended December 31, 2023, Kidoz Inc. continued out of the jurisdiction of the Anguillian Business Companies Act, 2022, and into
the jurisdiction of the Canada Business Corporations Act ("CBCA").
Our
executive offices are located at Pacific Centre, Suite 1500, 701 West Georgia Street, Vancouver, British Columbia, V7Y 1C6, Canada. Our
telephone number is (888) 374-2163.
B.
Business overview.
Kidoz
Inc. is an AdTech software developer and owner of the leading mobile Kidoz Safe Ad Network (www.kidoz.net). We help create a free and
safe mobile app environment for children by enabling content producers to monetize their apps and video with safe, relevant, and fun
ads. Our commitment to family privacy and safety has created one of the fastest growing mobile networks in the world.
During
the year ended December 31, 2023, the Company launched a wholly owned division called Prado to advertise to the over 13 years of age
family market. The Company has developed systems whereby our existing Kidsafe advertising will not be affected by Prado.
Product
Strategy
Kidoz
builds and maintains the Kidoz Safe Ad Network, the Kidoz SDK, and the Kidoz Privacy Shield for app developers and global advertisers
to reach children and families in a compliant and brand safe way. The Kidoz SDK is the core of the advertising technology that enables
Kidoz to have advertising impressions available for sale. The Kidoz proprietary advertising system is compliant with COPPA ("Children's
Online Privacy Protection Rule"), GDPR-K ("The European Union's General Data Protection Regulation for children")
and other regulations adopted to protect children in a complex digital world. Kidoz technology is completely proprietary. Kidoz continues
to upgrade its advertising systems to be compatible with the latest IAB ("International Advertising Board") specifications
for real-time-bidding, header bidding, and server-to-server direct connections. Our design and implementation of these solutions incorporates
a view to their utilization not only in the kids' marketplace but to the entire advertising market. Programmatic advertising is
the use of automated advertising technology to enable media buying and selling as opposed to traditional direct methods of digital advertising
which involve humans interfacing to agree to deal terms. Offering a managed programmatic solution of the best mobile advertising inventory
is a valuable offering that our agency partners are utilizing with increased frequency and scale.
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9
During
the year ended December 31, 2023, the Company launched a wholly owned division called Prado to access the over 13 years of age family
market. The Prado (www.prado.co) technology will provide a leading mobile SSP (Supply-side Platform), DSP (Demand-side Platform) and
Ad Exchange programmatically to the entire Ad Tech universe. By activating high-performance programmatic campaigns across thousands of
apps on their network, Prado makes digital advertising more efficient and effective by simplifying the process across a connected technology
platform. The Company has developed systems whereby our existing Kidsafe advertising will not be affected by Prado. Kidoz software engineers
have now completed the challenging transformation of their market leading kid safe Ad Network to also reach the significantly larger
digital ad market of teens, families, and audiences over 13 years old whilst not compromising the safety of our existing kids marketplace.
The Prado technology plus our internal controls will ensure that no inappropriate advertisements will be served to children and thereby
compromise kids' safety.
Marketing
& Distribution Strategy
Each
new app that installs the Kidoz SDK increases our user base and increases the number of available impressions that Kidoz can monetize.
The adoption of the Kidoz SDK has been rapid as app developers have few choices when it comes to sources of safe, compliant, and relevant
ads for their users. Kidoz has built its brand and reputation as the market leader for safe child and family mobile advertising technology,
and this has enabled our SDK to become quickly adopted. It is our strategy to invest in our systems and build alliances with the largest
software companies in the world. Since Google's certification of Kidoz and Apple's updated rules endorsing Kidoz's
methodologies the Company is experiencing unprecedented demand for its safe advertising solutions.
Sales
& Pricing Strategy
Kidoz
has a global sales agency partnership strategy that places local sellers into dozens of national and international markets. In 2023 Kidoz
launched campaigns in 59 different countries. Through our direct sales and marketing channels we locate, recruit, and sign new international
sales houses. As the Kidoz network is a unique advertising platform in the market, it commands high prices and media sales houses aspire
to represent the Company. Kidoz has found the agency partnership strategy to be highly effective as once sales houses are recruited and
the first few campaigns are delivered with success, repeat customers are established and the value of the region begins to grow. After
years of development with this strategy, Kidoz has many established sales houses in the largest economies of the world and is now tasked
with increasing the value of each partnership and empowering the sales houses to increase the portion of advertisers' budgets that
is spent with Kidoz. The Kidoz Programmatic solution has created new opportunities for all of Kidoz's agency partners as the solution
creates inventory for brands who are building awareness with parents and teens in addition to children.
Growth
Strategy
The
Kidoz sales, product, and operational strategies are custom fit to match the favorable regulatory, consumer, and technological trends
occurring in the market. It is the Kidoz mission to deliver best-in-class solutions for our advertiser and publisher partners that are
compliant with Apple, Google, and strict government data privacy regulations. Kidoz technology is built with privacy as a priority, and
we champion contextual advertising as a superior method of reaching target consumers. Kidoz publisher partners can monetize with human-curated
safe advertising on a global scale and with the knowledge that their users' data is not compromised.
Kidoz's
growth is also being propelled by a new customer type, the app developer themselves. Kidoz is increasingly utilized as a performance
platform for apps to scale their installs and revenues by paying on a cost-per-install ("CPI") basis. The global app install
segment of mobile advertising is estimated to be over US$120B annually according to AppsFlyer. Kidoz continues to advance its software
and systems to support this high growth business and the Company expects performance CPI media to be an increasing percentage of overall
business.
Page
10
Kidoz
is growing as a result of its core media business, and we expect further growth in our expansion via our Prado division to include the
teen and parent segments which became effective in 2023. Kidoz Connect is the latest product release to deliver enhanced value to our
advertising partners as the technology enables Kidoz to ingest programmatic campaigns of all types and scale them across the entire Kidoz
and Prado networks. The Kidoz commercial teams look forward to welcoming many new and existing customers to these offerings as we expand
the Kidoz reach within the global digital advertising ecosystem.
Furthermore,
while the focus of the Company is the development and expansion of the KIDOZ Safe Ad Network, we are investigating options to use our
technology to expand into new markets, either through new connections to the wider mobile advertising market, or via synergistic M&A.
Kidoz
Original Equipment Manufacturer ("OEM")
Kidoz's
mobile products includes the Kid Mode Operating System ("OS") installed on millions of OEM tablets worldwide. The Company
earns license fees based on the OEM agreements dependent on the number of devices the Kidoz Kid Mode OS is installed.
Rooplay
The
Company owns Rooplay (www.rooplay.com) the cloud-based EduGame system for kids to play multiple games to learn and play. The platform
is live
on the Google's Android system and has stand-alone games available on Apple's iOS and Google's Android
systems.
Trophy
Bingo and Garfield Bingo
The
Company has the social bingo games Trophy Bingo and Garfield Bingo which are available on Apple's iOS, Google's Android,
and Amazon Android systems. Revenue is generated in the games via in-app purchases and advertising. During the year ended December 31,
2023, Trophy Bingo and Garfield Bingo were discontinued.
C.
Organizational structure.
For
the year ended December 31, 2023, we conducted our business through the Anguilla incorporated entity and through our wholly-owned subsidiaries
Kidoz Ltd. ("Kidoz Ltd."), Shoal Media (Canada) Inc. ("Shoal Media Canada"), Shoal Games (UK) plc ("Shoal
UK"), Shoal Media Inc. ("Shoal Media"), Prado Media Ltd. ("Prado Media"), Shoal Media UK Ltd. ("Shoal
Media UK"), and Rooplay Media Kenya Limited. ("Rooplay Kenya"). Effective January 1, 2023, we conducted our business
through the Canadian incorporated entity and its subsidiaries.
Shoal
Media Canada was incorporated under the laws of British Columbia, Canada, on February 10, 1998, as 559262 B.C. Ltd. and changed its name
to Bingo.com (Canada) Enterprises Inc. on February 11, 1999. It subsequently changed its name to English Bay Office Management Limited
on September 8, 2003. Effective March 11, 2016, it changed its name to Shoal Media (Canada) Inc.
On
August 15, 2002, 99% of the share capital of Shoal UK was acquired. Shoal UK was incorporated under the laws of England and Wales on
August 18, 2000, as CellStop plc. and changed its name to Bingo.com (UK) plc. on August 5, 2002. During the year ended December 31, 2015,
the Company changed the name of the company to Shoal Games (UK) plc. During the year ended December 31, 2023, Shoal Games (UK) plc was
discontinued and struck off.
On
January 21, 2008, Coral Reef Marketing Inc., was incorporated under the laws of Anguilla, British West Indies. During the year ended
December 31, 2022, Coral Reef Marketing Inc. was merged with Kidoz Inc. and Kidoz Inc. is the surviving corporation.
Page
11
On
January 1, 2013, 100% of the share capital of Shoal Media Inc., an Anguillian Company was acquired.
On
October 25, 2016, Rooplay Media Ltd., was incorporated under the laws of British Columbia, Canada. During the year ended December 31,
2022, Rooplay Media Ltd. was renamed Prado Media Ltd.
On
March 27, 2017, Shoal Media UK Ltd. was incorporated under the laws of England and Wales.
On
July 12, 2017, Rooplay Media Kenya Limited was incorporated under the laws of Kenya.
On
March 4, 2019, the Company completed the acquisition of all of the issued and outstanding equity securities of Kidoz Ltd. ("Kidoz")
(www.kidoz.net), a privately held Israeli company.
D.
Property, plants and equipment.
Effective
January 1, 2023 our executive office is located in Vancouver, British Columbia, Canada.
We
have 2 primary development and operational offices located in Vancouver, Canada and Netanya, Israel.
During
the year ended December 31, 2019, the Company signed a five-year lease in Vancouver, Canada ending March 2024. This facility comprises
approximately 1,459 square feet. The monthly rental is approximately $4,137.
Kidoz
Ltd. has an annual office lease in Netanya, Israel, with rent payable on a quarterly basis. The operating lease expired on July 14, 2017,
but unless 3 months' notice is given it automatically renews for a future 12 months until notice is given. This facility comprises
approximately 190 square metres. The monthly rental is approximately $4,004.
We
operate a sales and marketing office in London, United Kingdom. There are no direct monthly rental fees associated with the London office.
We
believe that these facilities will be adequate to meet our requirements for the near future and that suitable additional space will be
available if needed. Since March 2020, the majority of Kidoz staff world-wide is operating from home or other suitable locations and
interacting on a daily basis through communication technologies. It is anticipated this will continue for the foreseeable future due
to the benefits derived with increased productivity and personal satisfaction from our staff. Other than described above, neither we,
nor any of our subsidiaries presently own or lease any other property or real estate.
ITEM 4A.
UNRESOLVED STAFF COMMENTS
Not
Applicable.
ITEM 5.
OPERATING AND FINANCIAL REVIEW AND PROSPECTS
The
following discussion and analysis is based on and should be read in conjunction with our consolidated financial statements, including
the related notes, and the other financial information included in this Report. The following discussion contains forward-looking statements
that reflect our current plans, estimates and beliefs and involve risks and uncertainties. Our actual results may differ materially from
those discussed in the forward-looking statements. Factors that could cause or contribute to such differences include those discussed
below and elsewhere in this Report.
Kidoz
Inc. (TSXV: KIDZ) mission is to keep children safe in the complex digital advertising ecosystem. Kidoz Inc. is a mobile advertising technology
company and owner of the KIDOZ Safe Ad Network (www.kidoz.net) and the Kidoz Publisher Software Development Kit ("SDK").
By developing solutions for app developers to monetize with safe, relevant, and fun ads we help keep the Google and Apple app stores
safe and free for children. Our commitment to children's privacy and safety has created one of the fastest growing mobile networks
in the world. Unlike most digital advertising, every campaign on the Kidoz platform is free of location information, device identifiers,
behavioural data, and other trackers used by advertisers to identify and track users across the Internet commonly known as IDFA and AAID.
Our technology does not rely on any permanent identifiers, and as Google and Apple begin to disallow persistent trackers from being employed
by any network (child-directed or not), Kidoz's strength increases.
Page
12
The
following discussion and analysis of the Company's financial condition and results of operations are presented in United States
Generally Accepted Accounting Principles ("US GAAP") and presented in US Dollars, the Company's functional currency.
A.
Operating results
Results
of Operations
2023
2022
2021
Revenue
$
13,326,824
$
15,097,056
$
12,484,639
Cost
    of sales
8,392,767
9,973,211
7,152,307
Gross
    (loss) profit
4,934,057
5,123,845
5,332,332
Operating
    expenses excluding interest and other income (expenses)
(6,153,451
)
(5,897,412
)
(4,357,188
)
Amortization
    and expiration of right-of-use assets
(29,748
)
(28,935
)
(40,851
)
Depreciation
    and amortization
(558,740
)
(557,267
)
(565,540
)
Gain
    on derivative liability – warrants
51
23,314
60,207
Interest
    and other income
1,049
185
241
Income
    tax recovery / (expense)
25,978
150,489
(216,677
)
Provision
    for doubtful receivables
(84,952
)
-
-
Stock
    awareness program
(146,300
)
(161,332
)
(402,845
)
Net
    (loss) income
$
(2,012,056
)
$
(1,347,113
)
$
(190,321
)
Basic
    and diluted net (loss) income per share from continuing operations
$
(0.02
)
$
(0.01
)
$
(0.00
)
Weighted
    average common shares outstanding
131,305,254
131,481,983
131,340,989
Year
Ended December 31, 2023, Compared with Year Ended December 31, 2022
Revenue
Total
revenue, net of platform fees (to Apple, Google and Amazon) and withholding taxes, for the year ended December 31, 2023, decreased to
$13,326,824, a decrease of 12% over total revenue net of fees and withholding taxes of to $15,097,056 for fiscal 2022. Ad Tech advertising
revenue for the year ended December 31, 2023, was $11,879,425 a decrease of 18% over Ad Tech advertising revenue of $14,425,918 for fiscal
2022.
Programmatic
advertising revenue for the year ended December 31, 2023, was $1,223,392 an increase of 239% over Programmatic advertising revenue of
$361,394 for fiscal 2022.
Content
revenue for year ended December 31, 2023, decreased to $224,007, a decrease of 28% over content revenue of $309,744 for fiscal 2022.
The
decrease in total revenue over fiscal 2022 is due to the overall weakness in the general market and the loss of some campaigns from fiscal
2022 which did not renew in fiscal 2023. Management believes that distortions in the overall market in fiscal 2022 existed due to COVID
and returned to normal in fiscal 2023. The increase in programmatic advertising revenue is due to the active promotion of this revenue
stream and the strong demand for Programmatic advertising in the market.
Page
13
Selling
and marketing expenses
Sales
and marketing expenses for the year ended December 31, 2023, were $1,268,218, an increase of 22% over selling and marketing expenses
of $1,039,713 for fiscal 2022. The increase in sales and marketing expenses over fiscal 2022 is due to an increase in sales and marketing
staff to manage the anticipated growth in the Direct, Programmatic and Performance segments of our AdTech business. Selling and marketing
expenses consist primarily of sales staff salaries and benefits and publishing services and user acquisition costs incurred to acquire
game players.
We
expect to incur increased sales and marketing expenses in selling the Ad tech advertising and to grow the Ad tech advertising revenue.
There can be no assurances that these expenditures will result in increased traffic or significant additional revenue.
Software
technology development
We
do not capitalize our development costs. Software technology development costs of $2,999,079 were expensed for year ended December 31,
2023, an increase of 20% from software technology development costs of $2,496,877 expensed for fiscal 2022. These increases over fiscal
2022, is due to the hiring of additional development staff and the outsourcing of certain software development to increase the development
of our base technologies including the development of the Prado technology. In addition, as we have expanded our global reach our server
costs have increased.
General
and administrative expenses
General
and administrative expenses consist primarily of legal and professional fees, premises costs for our offices and development facilities,
and other general corporate and office expenses. General and administrative expenses decreased to $673,654 for the year ended December
31, 2023, a decrease of 11% over general and administrative expenses of $760,936 in fiscal 2022. The decrease in general and administrative
expenses is due a decrease in fees paid to our professional advisors and a decrease in legal and filing fees as a result of the Normal
Course Issuer Bid and the continuation of the Company out of Anguilla and into Canada incurred in fiscal 2022.
We
expect to continue to incur general and administrative expenses to support the business, and there can be no assurances that we will
be able to generate sufficient revenue to cover these expenses.
Salaries,
wages, consultants, and benefits
Salaries,
wages, consultants, and benefits decreased to $705,830 for the year ended December 31, 2023, a decrease of 6% over salaries, wages, consultants,
and benefits of $751,811 for fiscal 2022. The decrease in salaries, wages, consultants, and benefits over fiscal 2022, is due to a decrease
in the consultants employed by the Company in 2023.
Depreciation
and amortization
Intangible
assets are amortized using a straight-line method over three to eight years. These intangible assets include customer lists, the technology
for Kidoz OS and the software development kits ("SDK") for our advertising platform. These intangible assets are as result
of the acquisition of Kidoz Ltd. The amortization for the year ended December 31, 2023, was $545,737 compared to $547,460 in fiscal 2022.
The decline is amortization for the year ended December 31, 2023, is due the full amortization of the Kidoz OS technology.
Equipment
is depreciated using the declining balance method over the useful lives of the assets, ranging from three to five years. Depreciation
increased to $13,002 during the year ended December 31, 2023, over depreciation of $9,807 in fiscal 2022. This increase in depreciation
and amortization compared to fiscal 2022, is due to the acquisition of new equipment and the write-off of old equipment.
Page
14
Stock-based
compensation expense
During
the year ended December 31, 2023, the Company incurred non-cash stock compensation expenses of $515,116 compared to non-cash stock compensation
expenses of $696,248 for fiscal 2022. During the year ended December 31, 2023, the Company granted 1,885,000 (fiscal 2022 - 2,550,000)
options. The options granted in fiscal 2023 and 2022, are issued to consultants and employees as per the Company's amended 2015
Rolling Stock Option Plan. The non-cash stock compensation program is an integral part of the Companies overall Staff Compensation Program.
Stock
awareness program
During
the year ended December 31, 2021, the Company commenced a corporate stock awareness program. The Company engaged Research Capital Corporation,
Agora Internet Relations Corp., Stockhouse Publishing Ltd. and Proactive for financial and capital markets advisory services and to assist
with general market outreach to increase investor awareness as the Company continues to achieve important milestones and grow its investor
base. During the year ended December 31, 2023, the Company discontinued its stock awareness program with Proactive and with Stockhouse
Publishing Ltd. in fiscal 2022.
The
Company incurred stock awareness expenses of $146,300 for year ended December 31, 2023, a decrease of 9% from stock awareness expenses
of $161,332 expensed for fiscal 2022. The decrease in Stock Awareness expenses compared to fiscal 2022 is due to the planned reduction
in stock awareness commitments and the discontinuance with Proactive.
Other
income and expenses
During
the year ended December 31, 2023, the Company has a foreign exchange gain of $1,139 compared to foreign exchange loss of ($142,857) in
the prior year. These gains are due to the exchange rate movements of the US Dollar compared to the Pound Sterling, Israeli Shekel, European
Euro, and the Canadian Dollar. The Company does not hedge its cash assets.
During
the year ended December 31, 2023, we received interest income of $1,049 compared to interest income of $185 in the prior year. The interest
income is received from bank term deposits from investing our cash. The increase in interest income is due to an increase in interest
rates and higher bank account balances in interest earning bank accounts in fiscal 2023 compared to fiscal 2022.
During
the year ended December 31, 2023, the Company had a gain on the derivative liability – warrants of $51 compared to gain on the
derivative liability – warrants of $23,314 in fiscal 2022. This derivative liability – warrants results from the issuance
of the 230,000 warrants to Research Capital Corporation during the year ended December 31, 2021, and which expired unexercised in the
year ended December 31, 2023.
Amortization
of right-of-use assets
On
January 1, 2020, the Company adopted ASC Topic 842 using the modified retrospective transition method. Topic 842 requires the recognition
of lease assets and liabilities for operating leases. The Company recognized right-of-use assets relating to the brand licenses and the
Vancouver, Canada office rental. During the year ended December 31, 2023, the Company amortized $26,828 and $2,920 expired on the Anguillian lease compared to right-of-use assets
amortization of $28,935 in fiscal 2022. Subsequent to the year ended December 31, 2023, the lease on the Vancouver office expired and
was not renewed.
Income
taxes
During
the year ended December 31, 2023, the Company had a tax recovery of $25,978 compared to a tax recovery of $150,489 in fiscal 2022. During
the year ended December 31, 2023, our Israeli subsidiary was officially recognized as a Preferred Technology Enterprise in Israel, a
prestigious status that comes with extensive tax relief benefits as provided by law and applied to the fiscal 2022 tax year.
During
the year ended December 31, 2023, the subsidiaries of the Company had a tax expense of $924 compared to a tax expense of $60,010 in fiscal
2022.
Page
15
During
the year ended December 31, 2005, Bingo.com, Inc. merged with its subsidiary Bingo.com, Ltd. in Anguilla, British West Indies. Anguilla
is a zero-tax jurisdiction. During the year ended December 31, 2023, Kidoz Inc. continued out of the jurisdiction of the Anguillian Business
Companies Act, 2022, and into the jurisdiction of the Canada Business Corporations Act ("CBCA") and is now a Canadian taxpayer.
Net
(loss) income and (loss) income per share
The
net loss after taxation for the year ended December 31, 2023, amounted to ($2,012,056) a loss of ($0.02) per share, compared to a net
loss of ($1,347,113), a loss of ($0.01) per share, in the year ended December 31, 2022. The net loss increased for the year ended December
31, 2023, due to a decrease in revenue, an increase in staff and outsourcing of certain software technology development. This increase
in staff is due to the hiring of additional development staff and sales and marketing personnel to increase the development of our base
technology and increase our sales and account management respectively.
Year
Ended December 31, 2022, Compared with Year Ended December 31, 2021
Revenue
Total
revenue, net of platform fees (to Apple, Google, and Amazon) and withholding taxes, for the year ended December 31, 2022, increased to
$15,097,056, an increase of 21% over total revenue net of fees and withholding taxes of to $12,484,639 for fiscal 2021. Ad Tech advertising
revenue for the year ended December 31, 2022, was $14,425,918 an increase of 18% over Ad Tech advertising revenue of $12,194,518 for
fiscal 2021. Programmatic advertising revenue for the year ended December 31, 2022, was $361,394 an increase of 518% over Programmatic
advertising revenue of $58,507 for fiscal 2021. Content revenue for year ended December 31, 2022, increased to $309,744, an increase
of 34% over content revenue of $231,614 for fiscal 2021. The increase in total revenue over fiscal 2021 is due to the growth of our publisher
reach and our advertising customers increasing their advertising budgets with the Kidoz safe mobile network. Programmatic revenue commenced
in fiscal 2021 and in fiscal 2022 we actively started promoting this revenue stream and hired sales and support staff to operate it.
The increase in content revenue is due to the increase of OEM sales of kids' tablets.
Selling
and marketing expenses
Sales
and marketing expenses for the year ended December 31, 2022, were $1,039,713, an increase of 62% over selling and marketing expenses
of $641,393 for fiscal 2021. The increase in sales and marketing expenses over fiscal 2021 is due to an increase in sales and marketing
staff to manage the anticipated growth in the Direct, Programmatic and Performance segments of our AdTech business. Selling and marketing
expenses consist primarily of sales staff salaries and benefits and publishing services and user acquisition costs incurred to acquire
game players.
General
and administrative expenses
General
and administrative expenses consist primarily of legal and professional fees, premises costs for our offices and development facilities,
and other general corporate and office expenses. General and administrative expenses increased to $760,936 for the year ended December
31, 2022, an increase of 26% over general and administrative expenses of $604,882 in fiscal 2021. The increase in general and administrative
expenses is due an increase in fees paid to our professional advisors and an increase in legal and filing fees for the Normal Course
Issuer Bid and the continuation of the Company out of Anguilla and into Canada.
Salaries,
wages, consultants, and benefits
Salaries,
wages, consultants, and benefits increased to $751,811 for the year ended December 31, 2022, an increase of 8% over salaries, wages,
consultants, and benefits of $693,964 for fiscal 2021. The increase in salaries, wages, consultants, and benefits over fiscal 2021, is
due to an increase in the overall headcount of staff employed by the Company to service its rapid growth.
Page
16
Depreciation
and amortization
Intangible
assets are amortized using a straight-line method over three to eight years. These intangible assets include customer lists, the technology
for Kidoz OS and the software development kits ("SDK") for our advertising platform. These intangible assets are as result
of the acquisition of Kidoz Ltd. The amortization for the year ended December 31, 2022, was $547,460 compared to $556,072 in fiscal 2021.
The decline is amortization for the year ended December 31, 2022, is due the full amortization of the Kidoz OS technology.
Equipment
is depreciated using the declining balance method over the useful lives of the assets, ranging from three to five years. Depreciation
increased to $9,807 during the year ended December 31, 2022, over depreciation of $9,468 in fiscal 2021. This increase in depreciation
and amortization compared to fiscal 2021, is due to the acquisition of new equipment and the write-off of old equipment.
Software
technology development
We
do not capitalize our development costs. Software technology development costs of $2,496,877 were expensed for year ended December 31,
2022, an increase of 49% from software technology development costs of $1,678,848 expensed for fiscal 2021. These increases over fiscal
2021, is due to the hiring of additional development staff and the outsourcing of certain software development to increase the development
of our base technologies including the development of the Prado technology. In addition, as we have expanded our global reach our server
costs have increased.
Stock-based
compensation expense
During
the year ended December 31, 2022, the Company incurred non-cash stock compensation expenses of $696,248 compared to non-cash stock compensation
expenses of $660,266 for fiscal 2021. During the year ended December 31, 2022, the Company granted 2,550,000 options. The options granted
in fiscal 2022, are issued to consultants and employees as per the Company's amended 2015 Rolling Stock Option Plan. The non-cash
stock compensation program is an integral part of the Companies overall Staff Compensation Program.
Stock
awareness program
During
the year ended December 31, 2021, the Company commenced a corporate stock awareness program. The Company engaged Research Capital Corporation,
Agora Internet Relations Corp., Stockhouse Publishing Ltd. and Proactive for financial and capital markets advisory services and to assist
with general market outreach to increase investor awareness as the Company continues to achieve important milestones and grow its investor
base. During the year ended December 31, 2022, the Company discontinued its stock awareness program with Stockhouse Publishing Ltd.
The
Company incurred stock awareness expenses of $161,332 for year ended December 31, 2022, a decrease of 60% from stock awareness expenses
of $402,845 expensed for fiscal 2021. The decrease in Stock Awareness expenses compared to fiscal 2021 is due to the planned reduction
in stock awareness commitments.
Other
income and expenses
During
the year ended December 31, 2022, the Company has a foreign exchange loss of ($142,857) compared to foreign exchange loss of ($69,835)
in the prior year. These losses are due to the exchange rate movements of the US Dollar compared to the Pound Sterling, Israeli Shekel,
European Euro, and the Canadian Dollar. The Company does not hedge its cash assets.
During
the year ended December 31, 2022, we received interest income of $185 compared to interest income of $241 in the prior year. The interest
income is received from bank term deposits from investing our cash. The decrease in interest income is due to lower bank account balances
in interest earning bank accounts in fiscal 2022 compared to fiscal 2021.
During
the year ended December 31, 2022, the Company had a gain on the derivative liability – warrants of $23,314 compared to gain on
the derivative liability – warrants of $60,207 in fiscal 2021. This derivative liability – warrants results from the issuance
of the 230,000 warrants to Research Capital Corporation during the year ended December 31, 2021, and will expire in the year ended December
31, 2023.
Page
17
Amortization
of right-of-use assets
On
January 1, 2020, the Company adopted ASC Topic 842 using the modified retrospective transition method. Topic 842 requires the recognition
of lease assets and liabilities for operating leases. The Company recognized right-of-use assets relating to the brand licenses and the
Vancouver, Canada and Anguillian office rental. During the year ended December 31, 2022, the Company amortized $28,935 compared to right-of-use
assets amortization of $40,851 in fiscal 2021.
Income
taxes
During
the year ended December 31, 2022, the Company had a tax recovery of $150,489 compared to a tax expense of $216,677 in fiscal 2021. Our
Israeli subsidiary had a deferred tax asset of $210,499 compared to a deferred tax liability of $210,449 in fiscal 2021. This deferred
tax asset relates to the acquisition of Kidoz Ltd. intangible assets. During the year ended December 31, 2022, the subsidiaries of the
Company had a tax expense of $60,010 compared to a tax expense of $6,178 in fiscal 2021.
Net
(loss) income and (loss) income per share
The
net loss after taxation for the year ended December 31, 2022, amounted to ($1,347,113) a loss of ($0.01) per share, compared to a net
loss of ($190,321), a loss of ($0.00) per share, in the year ended December 31, 2021. The net loss increased for the year ended December
31, 2022, despite an increase in revenue due to an increase in staff and outsourcing of certain software development. This increase in
staff is due to the hiring of additional development staff and sales and marketing personnel to increase the development of our base
technology and increase our sales and account management respectively.
Net
Cash generated from Operations and Adjusted EBITDA
Due
to our focus on maintaining a strong balance sheet while striving to continue our rapid growth on an annual basis and to evaluate our
performance and make financial and operational decisions accordingly we pay close attention to our net cash generated from operations
and our adjusted EBITDA.
Our
net cash from operations for the year ended December 31, 2023, was ($823,640) compared to $433,745 in the prior year. This decrease was
due to the decrease in revenue, our expansion of our R&D program to increase the development of our base technologies and encompass
the Prado technology to facilitate our entrance into the total Ad-tech market while maintaining our leadership position in the kid safe
arena.
Additionally,
our Adjusted Earnings Before Interest; Taxes; Depreciation and Amortization; stock awareness program; stock-based compensation and impairment
of goodwill ("Adjusted EBITDA") for the year ended December 31, 2023, amounted to a loss of ($891,166) compared to an Adjusted
EBITDA of ($231,395) in the prior year.
Our
Adjusted EBITDA is reconciled as follows:
2023
2022
2021
Loss for the year
$
(2,012,056
)
$
(1,347,113
)
$
(190,321
)
Depreciation and amortization
558,740
557,267
565,540
Stock awareness program
74,112
36,191
316,237
Stock-based compensation
515,116
696,248
660,266
Gain on derivative liability – warrants
(51
)
(23,314
)
(60,207
)
Interest and other income
(1,049
)
(185
)
(241
)
Income tax (recovery) expense
(25,978
)
(150,489
)
216,677
Adjusted EBITDA
$
(891,166
)
$
(231,395
)
$
1,507,951
Page
18
We
use Adjusted EBITDA internally to evaluate our performance and make financial and operational decisions that are presented in a manner
that adjusts from their equivalent GAAP measures or that supplement the information provided by our GAAP measures. Adjusted EBITDA is
defined by us as EBITDA (net income (loss) plus depreciation expense, amortization expense, interest, stock-based compensation, and impairment
of goodwill), further adjusted to exclude certain non-cash expenses and other adjustments. We use Adjusted EBITDA because we believe
it more clearly highlights business trends that may not otherwise be apparent when relying solely on GAAP financial measures, since Adjusted
EBITDA eliminates from our results specific financial items that have less bearing on our core operating performance.
Adjusted
EBITDA is not presented in accordance with, or as an alternative to, GAAP financial measures and may be different from non-GAAP measures
used by other companies. These non-GAAP measures should not be considered a substitute for, or superior to, financial measures calculated
in accordance with generally accepted accounting principles in the United States of America ("GAAP"). We encourage investors
to review the GAAP financial measures included in this Annual Report, including our consolidated financial statements, to aid in their
analysis and understanding of our performance and in making comparisons.
B.
Liquidity and capital resources
The
Company generates cash from operations but does have a line of credit with the Leumi Bank in Israel if required. During the year ended
December 31, 2021, the Company drew $200,000 from the line of credit. The loan was repaid in full during the year ended December 31,
2021.
The
Company believes it has sufficient cash resources to meet its current growth and development objectives. Although the Company has relied
on revenue generated through its business, external funding may be required to continue growing the existing business and scaling operations.
There can be no assurance that adequate funding will be available in the future, or under terms that are favorable to the Company.
December
31, 2023, Compared to December 31, 2022
We
had cash of $1,469,224 and working capital of $3,220,646 as at December 31, 2023. This compares to cash of $2,363,530 and working capital
of $4,147,176 as at December 31, 2022.
During
the year ended December 31, 2023, we used cash of ($823,640) in operating activities compared to providing cash of $433,745 in the prior
year.
Net
cash used in financing activities was ($61,952) in the year ended December 31, 2023, which compares to cash used in financing activity
of ($122,289) in fiscal 2022. During the year ended December 31, 2023, the Company repaid the CEBA loan of CAD$40,000 ($29,484). During
the year ended December 31, 2023, to the Company acquired 2,000 (2022 - 275,000) shares acquired pursuant to the NCIB in effect at an
aggregate cost of $517 (2022 - $87,778).
Cash
of ($8,714) was used in investing activities in fiscal 2023, compared to cash used of ($26,533) in the prior year. This decrease related
to the acquisition of new equipment for our new staff in fiscal 2022.
December
31, 2022, Compared to December 31, 2021
We
had cash of $2,363,530 and working capital of $4,147,176 as at December 31, 2022. This compares to cash of $2,078,607 and working capital
of $4,536,852 as at December 31, 2021.
During
the year ended December 31, 2022, we provided cash of $433,745 in operating activities compared to providing cash of $851,533 in the
prior year.
Net
cash provided by financing activities was ($122,289) in the year ended December 31, 2022, which compares to cash provided by financing
activity of $1,413 in fiscal 2021. This increase related to the Company acquiring 275,000 shares acquired pursuant to the NCIB in effect
at an aggregate cost of $87,778.
Cash
of ($26,533) was used in investing activities in fiscal 2022, compared to cash used of ($384) in the prior year. This increase related
to the acquisition of new equipment for our new staff.
Page
19
Our
future capital requirements will depend on several factors, including costs associated with the further development of the Ad tech advertising
business, the cost of marketing and customer acquisition costs, the development of new products, the acquisition of new companies and
the success of our overall business.
C.
Research and development, patents and licenses, etc.
The
Company is continually developing its technology to improve operations and to offer a better service to our customers. The Company expenses
all software technology development costs as incurred for the year ended December 31, 2023 and 2022. As at December 31, 2023 and 2022,
all capitalized software development costs have been fully amortized, and the Company has no capitalized software development costs.
D.
Trend information.
Normal
Course Issuer Bid:
During
the year ended December 31, 2022, the Company filed a Notice of Intention to Make a Normal Course Issuer Bid (the "Notice of Intention")
with the TSX Venture Exchange ("TSX-V") on September 15, 2022. Upon receiving approval from the TSX-V, effective September
16, 2022, the Company commenced a normal course issuer bid ("NCIB"), whereby the Company may purchase for cancellation up
to 6,579,074 shares, being 5% of the issued and outstanding shares as of such date. Any purchases under the NCIB will be made on the
open market through the facilities of the TSX-V or alternative Canadian trading systems. Purchases will be made at market prices of the
shares at the time of acquisition.
Purchases
under the NCIB may commence as of September 16, 2022, and will end on the earlier of: (i) September 14, 2023; or (ii) the date on which
the Company has purchased the maximum number of shares to be acquired under the NCIB. The Company may terminate the NCIB earlier if it
feels it is appropriate to do so.
The
normal course issuer bid will be conducted through Kidoz Inc's broker Research Capital Corporation. The purchase and payment of
the common shares will be made in accordance with the requirements of the TSX-V and applicable securities laws. The actual number of
common shares purchased, timing of purchases and share price will depend upon market conditions at the time and securities law requirements.
All common shares acquired will be returned to treasury and cancelled.
The
purchase of and payment for the shares will be made in accordance with the requirements of the TSX-V and applicable securities laws.
The actual number of shares purchased, timing of purchases and share price will depend upon market conditions at the time and securities
law requirements. All shares acquired pursuant to the NCIB will be returned to treasury and cancelled.
During
the year ended December 31, 2023, 41,500 shares which were acquired during the year ended December 31, 2022, pursuant to the NCIB in
effect, at an aggregate cost of $11,793, were cancelled.
During
the year ended December 31, 2023, 2,000 shares were acquired pursuant to the NCIB in effect, at an aggregate cost of $517. During the
year ended December 31, 2023, 2,000 shares were cancelled.
During
the year ended December 31, 2022, 275,000 shares were acquired pursuant to the NCIB in effect, at an aggregate cost of $87,778. During
the year ended December 31, 2022, 233,500 shares were cancelled.
Page
20
Common
Shares
The
bid quotations set forth below, reflect inter-dealer prices, without retail mark-up, mark-down or commission and may not reflect actual
transactions.
TSX-V - KIDZ
OTC - KDOZF
Quarter Ended
High (1)
CAD$
Low (1)
CAD$
High (1)
US$
Low (1)
US$
December 31, 2023
$
0.215
$
0.13
$
0.28
$
0.02
September 30, 2023
$
0.27
$
0.185
$
0.30
$
0.14
June 30, 2023
$
0.28
$
0.20
$
0.83
$
0.13
March 31, 2023
$
0.385
$
0.20
$
0.26
$
0.04
December 31, 2022
$
0.55
$
0.245
$
0.40
$
0.02
September 30, 2022
$
0.405
$
0.26
$
0.51
$
0.06
June 30, 2022
$
0.55
$
0.395
$
0.51
$
0.10
March 31, 2022
$
0.60
$
0.44
$
0.65
$
0.35
1.
Prices
    as per Yahoo!
TM
Finance
E.
Critical Accounting Estimates
The
information provided in this Form 20-F, including the consolidated financial statements, is the responsibility of management. The preparation
of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect amounts reported
in the financial statements and accompanying notes. There is a full disclosure and description of the Company's critical accounting
policies, estimates, judgments, assumptions in the consolidated financial statements as at December 31, 2023 in notes 1 and 2.
Significant
areas requiring the use of estimates include the collectability of accounts receivable, the valuation of stock-based compensation, the
valuation of deferred tax assets and liabilities, the useful lives of intangible assets, and the derivative liability – warrants
valuation. Actual results may differ significantly from these estimates.
The
following discussion of critical accounting policies is intended to supplement the Summary of Significant Accounting Policies presented
as Note 2 to our audited consolidated financial statements presented elsewhere in this report. Note 2 summarizes the accounting policies
and methods used in the preparation of our consolidated financial statements.
We
consider the following accounting policies to be both those most important to the portrayal of our financial condition and require the
most subjective judgment:
-
Revenue
    recognition;
-
Software
    technology development;
-
Impairment
    of long-lived assets
-
Goodwill
F.
Off Balance Sheet Arrangements
We
did not have any off balance sheet arrangements for the years ended December 31, 2023, 2022 and 2021.
Page
21
ITEM 6.
DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES
A.
Directors and senior management.
Our
directors and executive officers as at December 31, 2023, are as follows:
Name
Age
Position
Audit
    Committee
Governance
    Committee
Compensation
    Committee
T.
    M. Williams
83
Chairman
J.
    M. Williams
48
Chief
    Executive Officer
X
E.
    Ben Tora
53
President
    & General Manager EMEA
F.
    Curtis
59
Non-Executive
    Director
X*
X*
X
C.
    Kalborg
62
Non-Executive
    Director
X
X
X
M.
    David
58
Non-Executive
    Director
X
X*
H.
    W. Bromley
53
Chief
    Financial Officer
T.
    H. Williams
53
VP
    Product
X*
- Chairman of Committee
Tryon
(Tarrnie) M. Williams
– Chairman, Member of the Board of Directors
Mr.
T. M. Williams served as President, Chief Executive Officer and Chairman from August 2001 until June 2011 and from June 2011 till May
2022, Mr T. M. Williams served as Executive Chairman. From May 2022, Mr. T. M. Williams has served as the Chairman of the Company. Since
1984, Mr. Williams has served as a principal of T.M. Williams (ROW), Inc., a private consulting firm, and from 1993 until 2008, was Adjunct
Professor, Sauder School of Business at the University of British Columbia. From 1988 to 1991, he was President and Chief Executive Officer
of Distinctive Software, Inc. in Vancouver, BC, and, upon the acquisition of that company by Electronic Arts Inc., North America's
largest developer of entertainment software, he became President and Chief Executive Officer of Electronic Arts (Canada) Inc., where
he continued until 1993. From 1995 to 2012, Mr. T. M. Williams was a director of YM Biosciences, Inc., a biotechnology company, until
its acquisition by Gilead Sciences, Inc. In addition, he is a director of several other private corporations.
Jason
Williams
– Chief Executive Officer, Member of the Board of Directors
Mr.
J.M. Williams has been a director since July 2007 and from June 2011 to March 2019, Mr. J. M. Williams served as the sole Chief Executive
Officer of the Company. Since the acquisition of Kidoz Ltd. in 2019 until May 2022, he served as Co- Chief Executive Officer. From May
2022, has served the sole Chief Executive Officer of the Company. Prior to his employment with Kidoz Inc., he was a Business Analyst
with Blue Zone Inc. (a technology company) and RBC Dominion Securities. Mr. J. M. Williams has a Bachelor of Commerce degree from the
University of Victoria and a Masters of Business Administration degree, specializing in strategic marketing, from the University of Warwick.
In addition, Mr. J. M. Williams is a Non-Executive Director of Adventurebox Technology AB (pubL). Mr. J. M. Williams is the son of Mr.
T. M. Williams, the Company's Chairman.
Eldad
Ben Tora -
President, Member of the Board of Directors
Mr.
E. Ben Tora served as Co-Chief Executive Officer from the acquisition by the Company of Kidoz Ltd in March 2019 until May 2022. Since
May 2022, Mr. E. Ben Tora has served as the President & General Manager EMEA and since April 2023 General Manager of Prado. Mr. E.
Ben Tora was a co-founder of Kidoz Ltd. and has served as its Chief Executive Officer and Chief Revenue Officer since June 2013. Previously
he served as General Manager and Chief Product officer at Bluesnap (formerly Plimus), which was acquired by Great Hill Partners in 2011.
Mr. E. Ben Tora holds a bachelor's degree in management and communication from the College of management in Tel Aviv. Mr. E. Ben
Tora is a serial entrepreneur and senior executive in venture-backed and public Internet companies, both early and growth stage, bringing
extensive experience in operating and scaling tech companies.
Fiona
Curtis
– Non-Executive Director
Ms.
F. Curtis has served as a director of the Company since June 10, 2009. She has served as Compliance Officer and General Corporate Secretary
for Counsel Limited, an Anguillan financial services corporation, since 2006. Ms. F. Curtis is the Managing Director of Counsel Limited.
Ms. F. Curtis has been working in the financial services industry since 1990. She started at the brokerage firm, Burns Fry, in Toronto
(now Nesbitt Burns, Bank of Montreal). She completed her Canadian Securities Course and became a licensed Securities Broker in 1992.
She was educated in England, and attended the University of Toronto, Canada for her undergraduate degree. Ms. F. Curtis's MBA in
Finance & International Affairs was granted by the Rotman School of Business, University of Toronto. Ms. F. Curtis obtained her Associates
Degree in Captive Insurance in 2018. She has also served as Chairman of the Board of Anguilla Finance (2016 - 2020), the marketing body
for Anguilla Financial Services. Ms. F. Curtis is a Founding Member and Director of the Anguilla Compliance Association, now serving
as Chairman.
Page
22
Claes
Kalborg
– Non-Executive Director
Mr.
C. Kalborg is a 20-year licensing veteran with experience from leading game companies such as Rovio (the makers of Angry Birds) and King.com
(the makers of Candy Crush). Taking on the aptly named role of licensing guru, Mr. C. Kalborg has gathered close to 50 licensees and
established a network of regional agents for Candy Crush around the world. Those agents include Striker Entertainment in the U.S. and
Canada; Tycoon Enterprises in Latin America (except Argentina and Brazil); Tycoon 360 in Brazil; IMC in Argentina; Mediogen in Israel;
Sinerji in Turkey; Pacific Licensing Studio in Southeast Asia; Wild Pumpkin Licensing in Australia and New Zealand; PPW in greater China;
and Voozclub in Korea. Mr. C. Kalborg brings a wealth of experience and a deep network in licensing and technology to Kidoz Inc. In addition,
Mr. C. Kalborg is a Non-Executive Director of Fragbite, LL Games, CanopyLAB A/S and Adventurebox Technology AB (pubL) and he is a partner
in Swiss based Non Violence S.A owning the IP rights for the globally renowned symbol "The Knotted Gun" and a board member
and partner in CF Entertainment holding global rights for the Crazy Frog.
Moshe
David
– Non-Executive Director
Mr.
M. David is an Investor, Executive, Board Director and Chairman. Currently serves as CEO of RAFT Technologies and Board member at Omnisys,
Mappo and Questar. During 2022 and early 2023, Mr. David served as Investor and Resident Executive in Entree Capital and as Active Chairman
at Wisesight, and as Board member and Advisor at Sweetch, Bria.ai and Swapp. Until early 2022 served as Chief Executive Officer at TIBA,
a global leader in Parking revenue systems where he has quadrupled its revenue and became a global market leader. Prior to TIBA, Mr.
David founded several companies and served as an Executive and Board member in several more, including NlightU, OzVision and TvPoint.
Mr. David also served as deputy CEO managing Ness Technologies and as President of North America in Amdocs Inc., in both roles managing
businesses of hundreds of millions of USD$ and thousands of employees around the globe. Mr. David started his career in the Israeli Airforce.
He has a BA in Economics and Computer Science from Bar Ilan University in Israel, and an MBA Cum Laude from Boston University.
Mr.
H. W. Bromley
has served as our Chief Financial Officer since July 2002. From 2000 to 2001, Mr. Bromley was a Director and the Group
Financial Officer for Agroceres & Co. Ltd. From 1995 - 1999, he was an employee of Ernst & Young working in South Africa and
in the United States of America. Mr. Bromley has in addition worked for CitiBank, Unilever PLC, Gerrard, Roadhouse Interactive Ltd. and
CellStop Systems Inc. Mr. Bromley is a Chartered Accountant.
Mr.
T. H. Williams
is VP Product, where he leads technology and product development. A highly experienced, creative leader who has dedicated
his career to building products on the forefront of technology. Mr. T. H. Williams has led development on a wide variety of platform
launches, new devices, and innovative business models, and has helped build and operate multiple successful studios and teams, including
Electronic Arts Inc. in Vancouver, Canada and Los Angeles, United States; Relic Entertainment Inc.; Roadhouse Interactive Ltd.; and Blueprint
Reality Inc. He is passionate about his teams, loves solving hard problems, and has produced over $2 billion in retail product sales
across his career. Mr. T. H. Williams is the son of Mr. T. M. Williams, the Company's Chairman.
Page
23
Board Diversity
The table below provides certain information regarding the diversity of
our board of directors as of the date of this Annual Report.
Board
    Diversity Matrix
Country
    of Principal Executive Offices
Canada
Foreign
    Private Issuers
Yes
Disclosure
    Prohibited Under Home Country Law
No
Total
    Number of Directors
6
Part
    I: Gender Identity
Female
Male
Non-Binary
Did
    not Disclose Gender
Directors
1
5
0
0
Part
    II: Demographic Background
Underrepresented
    Individual in Home Country Jurisdiction
0
LGBTQ+
0
Did
    Not Disclose Demographic Background
0
B.
Compensation
Annual Compensation
Long-term Compensation
Name and Principal Position
Year
Fees
Bonus
Other Annual
Compensation
Restricted Stock Awards
Securities Underlying Options granted
All Other
Compensation
$
$
$
$
(#)
$
T.M. Williams -
2023
159,089
-
-
-
50,000
-
Chairman (1)
2022
168,734
-
-
-
150,000
-
2021
132,000
19,800
-
-
100,000
-
J. M. Williams
2023
220,962
-
-
-
50,000
-
CEO (2)
2022
208,184
-
-
-
150,000
-
2021
172,567
25,611
-
-
100,000
-
E. Ben Tora
2023
227,779
-
-
-
50,000
-
President & General (3)
2022
216,957
-
-
-
50,000
-
Manager EMEA (3)
2021
194,680
22,278
-
-
100,000
H. W. Bromley
2023
200,277
-
-
-
50,000
-
CFO (4)
2022
196,064
-
-
-
150,000
-
2021
144,464
25,742
-
-
100,000
-
T. H. Williams
2023
178,341
-
-
-
50,000
-
VP Product (5)
2022
182,556
-
-
-
150,000
-
2021
157,321
10,779
-
-
100,000
-
(1)
All
    of the compensation paid to the Named Executive Officer is paid to T.M. Williams (ROW), Ltd. for the services of Mr. T. M. Williams.
(2)
During
    the year ended December 31, 2022, Mr. J. M. Williams became an employee of Shoal Media (Canada) Inc., a wholly owned subsidiary of
    Kidoz Inc. Prior to Mr. J. M. Williams becoming an employee his compensation was paid to LVA Media Inc. for the services of Mr. J.
    M. Williams as CEO of the Company and Jayska Consulting Ltd for the marketing services of Mr. J. M. Williams.
(3)
All
    of the compensation paid to the Named Executive Officer is paid to Mr. E. Ben Tora as an employee of Kidoz Ltd.
(4)
All
    of the compensation paid to the Named Executive Officer is paid to Bromley Accounting Services Ltd. for the services of Mr. H. W.
    Bromley.
(5)
All
    of the compensation paid to the Named Executive Officer is paid to Farcast Operations Inc. Ltd. for the services of Mr. T. H. Williams.
Management
Services Agreement
The
Company has the following management consulting agreements with related parties.
Company
Person
Role
Annual amount
T.M. Williams (ROW), Inc.
T. M. Williams
Chairman
$
160,000
Bromley Accounting
Services Ltd.
H. W. Bromley
CFO
CAD$
215,000
Farcast Operations Inc.
T. H. Williams
VP Product
CAD$
240,000
Compensation
of Non-Executive Directors
The
Non-Executive Directors receive a cash compensation for their services as members of the Board of Directors based on a compensation per
meeting. During the year ended December 31, 2023, the Non-Executive Directors collectively received compensation of $7,505 (Fiscal 2022
- $8,970). The Executive directors currently do not receive cash compensation for their services as members of the Board of Directors.
In addition, both the Non-Executive and the Executive Directors are reimbursed for expenses in connection with attendance at Board of
Directors meetings and specific business meetings. Directors are eligible to participate in our stock option plans. Option grants to
directors are at the discretion of the Board of Directors acting upon the recommendation of the Compensation committee.
Page
24
C.
Board Practices
We
currently have six directors. All directors currently hold office until the next annual meeting of stockholders or until their successors
have been elected and qualified. Our officers are appointed annually by the Board of Directors and hold office until their successors
are appointed and qualified. Pursuant to the Company's by-laws, the number of directors shall be increased or decreased from time-to-time
by resolution of the Board of Directors or the shareholders. Mr. J. M. Williams and Mr. T. H. Williams are sons of Mr. T. M. Williams.
There are no other family relationships between any of the officers and directors of the Company.
Committees
of our board of directors
We
currently have three committees of our Board of Directors.
-
Audit
    Committee
- This committee will review the financial statements of the Company and propose to the board to approve the financial
    statements. The Committee meets quarterly to review and approve the quarterly financial statements and to discuss the affairs of
    the company with the auditors.
The
Company's audit committee has the overall duties and responsibilities to:
●
review
    the financial reporting process to ensure the accuracy of the financial statements of the Company;
●
assist
    the Board to properly and fully discharge its responsibilities;
●
strengthen
    the role of the Board by facilitating in depth discussions between directors, management and external auditors;
●
evaluate
    the independent auditor's qualifications, performance and independence;
●
facilitate
    the independence of the independent auditor;
●
assess
    the processes relating to the determination and mitigation of risks and the maintenance of an effective control environment; and;
●
review
    the processes to monitor compliance with laws and regulations.
-
Governance
    Committee
- This committee reviews the ethics policy of the Company and ensures compliance. It will make recommendations to the
    board for improvement in Corporate Governance. In addition, it will be this committee to whom a whistle blower will report.
The
duties and responsibilities of the Corporate Governance Committee include, without limitation, the following:
●
Develop
    and monitor the Company's overall approach to corporate governance issues and, subject to approval by the Board, implement
    and administer this process.
●
Advise
    the Board or any of the committees of the Board of any corporate governance issues which the Committee determines ought to be considered
    by the Board or any such committees.
●
Review
    with the Board, on a regular basis, but not less than annually, the terms of reference for the Board, each committee of the Board,
    the Chairman, and the Chief Executive Officer.
●
Review
    with the Board, on a regular basis, the methods, and processes by which the Board fulfils its duties and responsibilities, including
    without limitation:
i.
the size of the Board;
ii.
the number and content of meetings;
iii.
the annual schedule of issues to be presented to the Board at its meetings or those of its committees;
Page
25
iv.
material which is to be provided to the directors generally and with respect to the meetings of the Board or its committees;
v.
resources available to the directors; and
vi.
the communication process between the Board and management.
●
Review
    and, as necessary, authorize a committee or an individual director to engage separate independent counsel and/or advisors at the
    expense of the Company in appropriate circumstances.
●
Make
    recommendation to the Board regarding changes or revisions to the Board's Corporate Governance Guidelines;
●
Evaluate
    and make recommendations to the Board concerning the appointment of directors to the committees and the selection of Board committee
    chairs;
●
Annually
    evaluate and report to the Board on the performance and effectiveness of the Board and its committees;
●
Annually,
    in conjunction with the Chief Executive Officer, evaluate the performance of the Company's management (other than the Chief
    Executive Officer). Conduct an annual review of succession planning and report its findings and recommendations to the Board;
●
Evaluate
    and lead the Board's annual review of the Chief Executive Officer's performance; and
●
Annually
    review and evaluate its performance.
-
Compensation
    Committee
- This committee will propose the appointment and remuneration of the Chief Executive Officer including salary, stock
    options, and bonuses.
The
duties and responsibilities of the Compensation Committee include, without limitation, the following:
●
to
    recommend to the Board compensation policies and guidelines for the Company; and
●
to
    review and approve corporate goals and objectives relevant to the compensation of the Chief Executive Officer and, in light of those
    goals and objectives, to recommend to the Board the annual salary, bonus and other benefits, direct and indirect, of the Chief Executive
    Officer and to approve compensation for all other designated officers of the Company, after considering the recommendations of the
    Chief Executive Officer, all within the human resources and compensation policies and guidelines approved by the Board.
D.
Employees
As
of December 31, 2023, we had 43 employees, consultants, and independent contractors throughout the world including twenty full-time employees
in Canada and Israel. Since 2006 it has been, and continues to be, the Company's objective to control its costs by retaining consultants,
as needed, to provide special expertise in developing internal strategic, marketing, accounting, and technical services. None of our
employees or consultants are represented by a labor union, and we believe that our relationship with our employees and consultants is
good.
We
are substantially dependent upon the continued services and performance of J. M. Williams, Chief Executive Officer; Eldad Ben Tora, President
& General Manager EMEA and T. M. Williams, Chairman. The loss of the services of these key individuals would have a material adverse
effect on our business, financial condition, and results of operations. We do not carry any key man life insurance on any individuals.
E.
Share ownership.
See
"Item 7—Major Shareholders and Related Party Transactions—Major Shareholders."
Page
26
F.
Disclosure of a Registrant's Action to Recover Erroneously Awarded Compensation
Not
applicable.
ITEM 7.
MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS
A.
Major Shareholders
The
following table sets forth certain information known to us with respect to beneficial ownership of our common stock as of April 25, 2024,
by:
-
each
    person known by us to beneficially own 5% or more of our outstanding common stock;
-
each
    of our directors;
-
each
    of the Named Executive Officers; and
-
all
    of our directors and Named Executive Officers as a group.
In
general, a person is deemed to be a "beneficial owner" of a security if that person has or shares the power to vote or direct
the voting of such security, or the power to dispose or direct the disposition of such security. In computing the number of shares beneficially
owned by a person and the percentage ownership of that person, shares of common stock subject to options or debentures held by that person
that are currently exercisable or convertible or exercisable or convertible within 60 days of April 25, 2024, are deemed outstanding.
Percentage
of beneficial ownership is based upon 131,304,499 shares of common stock outstanding at April 25, 2024. To our knowledge, except as set
forth in the footnotes to this table and subject to applicable community property laws, each person named in the table has sole voting
and investment power with respect to the shares set forth opposite such person's name.
Name and Address of Beneficial Owner
Number of Shares
Beneficially Owned
Percent of Class
T. M. Williams (Canada)
17,034,066
(1)
12.02
%
J. M. Williams (United Kingdom)
1,426,950
(2)
1.01
%
E. Ben Tora (Israel)
5,789,965
(3)
4.09
%
F. Curtis (Anguilla)
518,750
(4)
0.40
%
C. Kalborg (Sweden)
431,250
(5)
0.33
%
M. David (Israel)
1,407,991
(6)
0.99
%
H. W. Bromley (Canada)
893,750
(7)
0.63
%
T. H. Williams (Canada)
1,226,080
(8)
0.87
%
All directors and Named Executive Officers as a group (8 persons)
28,728,802
20.34
%
Pendinas Limited (Isle of Man)
27,839,464
(9)
19.65
%
Wydler Global Equity Fund (Switzerland)
12,200,000
(10)
8.61
%
Ordan Enterprises Ltd. (Israel)
8,670,808
(11)
6.12
%
Norma Investment Ltd. (Cypress)
7,700,752
(12)
5.43
%
(1)
Includes
    16,515,316 shares held directly by Mr. T. M. Williams and 50,000 shares of common stock that may be issued upon the exercise of 50,000
    stock purchase options with an exercise price of CAD$0.45 (approximately US$0.33) per share and 200,000 shares of common stock that
    may be issued upon the exercise of 200,000 stock purchase options with an exercise price of CAD$0.50 (approximately US$0.39) per
    share and 50,000 shares of common stock that may be issued upon the exercise of 50,000 stock purchase options with an exercise price
    of CAD$1.02 (approximately US$0.81) per share and 50,000 shares of common stock that may be issued upon the exercise of 50,000 stock
    purchase options with an exercise price of CAD$0.30 (approximately US$0.22) per share and 168,750 shares of common stock that may
    be issued upon the exercise of 168,750 stock purchase options with an exercise price of CAD$0.20 (approximately US$0.15) per share.
Page
27
(2)
Includes,
    908,200 shares held directly by Mr. J. M. 50,000 shares of common stock that may be issued upon the exercise of 50,000 stock purchase
    options with an exercise price of CAD$0.45 (approximately US$0.33) per share and 200,000 shares of common stock that may be issued
    upon the exercise of 200,000 stock purchase options with an exercise price of CAD$0.50 (approximately US$0.39) per share and 50,000
    shares of common stock that may be issued upon the exercise of 50,000 stock purchase options with an exercise price of CAD$1.02 (approximately
    US$0.81) per share and 50,000 shares of common stock that may be issued upon the exercise of 50,000 stock purchase options with an
    exercise price of CAD$0.30 (approximately US$0.22) per share and 168,750 shares of common stock that may be issued upon the exercise
    of 168,750 stock purchase options with an exercise price of CAD$0.20 (approximately US$0.15) per share.
(3)
Includes
    5,214,965 shares held directly by Mr. E. Ben Tora and 350,000 shares of common stock that may be issued upon the exercise of 350,000
    stock purchase options with an exercise price of CAD$0.45 (approximately US$0.33) per share and 100,000 shares of common stock that
    may be issued upon the exercise of 100,000 stock purchase options with an exercise price of CAD$0.50 (approximately US$0.39) per
    share and 50,000 shares of common stock that may be issued upon the exercise of 50,000 stock purchase options with an exercise price
    of CAD$1.02 (approximately US$0.81) per share and 50,000 shares of common stock that may be issued upon the exercise of 50,000 stock
    purchase options with an exercise price of CAD$0.30 (approximately US$0.22) per share and 25,000 shares of common stock that may
    be issued upon the exercise of 25,000 stock purchase options with an exercise price of CAD$0.20 (approximately US$0.15) per share.
(4)
Includes
    50,000 shares held directly by Ms. F. Curtis and 200,000 shares of common stock that may be issued upon the exercise of 200,000 stock
    purchase options with an exercise price of CAD$0.50 (approximately US$0.39) per share and 50,000 shares of common stock that may
    be issued upon the exercise of 50,000 stock purchase options with an exercise price of CAD$1.02 (approximately US$0.81) per share
    and 50,000 shares of common stock that may be issued upon the exercise of 50,000 stock purchase options with an exercise price of
    CAD$0.30 (approximately US$0.22) per share and 168,750 shares of common stock that may be issued upon the exercise of 168,750 stock
    purchase options with an exercise price of CAD$0.20 (approximately US$0.15) per share.
(5)
Includes
    100,000 shares of common stock that may be issued upon the exercise of 100,000 stock purchase options with an exercise price of CAD$0.50
    (approximately US$0.39) per share and 50,000 shares of common stock that may be issued upon the exercise of 50,000 stock purchase
    options with an exercise price of CAD$1.02 (approximately US$0.81) per share and 50,000 shares of common stock that may be issued
    upon the exercise of 50,000 stock purchase options with an exercise price of CAD$0.30 (approximately US$0.22) per share and 231,250
    shares of common stock that may be issued upon the exercise of 231,250 stock purchase options with an exercise price of CAD$0.20
    (approximately US$0.15) per share..
(6)
Includes
    543,379 shares held indirectly by Mr. M. David and 339,612 shares indirectly by a Company owned by Mr. M. David and 300,000 shares
    of common stock that may be issued upon the exercise of 300,000 stock purchase options with an exercise price of CAD$0.45 (approximately
    US$0.33) per share and 100,000 shares of common stock that may be issued upon the exercise of 100,000 stock purchase options with
    an exercise price of CAD$0.50 (approximately US$0.39) per share and 50,000 shares of common stock that may be issued upon the exercise
    of 50,000 stock purchase options with an exercise price of CAD$1.02 (approximately US$0.81) per share and 50,000 shares of common
    stock that may be issued upon the exercise of 50,000 stock purchase options with an exercise price of CAD$0.30 (approximately US$0.22)
    per share and 25,000 shares of common stock that may be issued upon the exercise of 25,000 stock purchase options with an exercise
    price of CAD$0.20 (approximately US$0.15) per share.
(7)
Includes,
    375,000 shares held directly by Mr. H. W. Bromley and 50,000 shares of common stock that may be issued upon the exercise of 50,000
    stock purchase options with an exercise price of CAD$0.45 (approximately US$0.33) per share and 200,000 shares of common stock that
    may be issued upon the exercise of 200,000 stock purchase options with an exercise price of CAD$0.50 (approximately US$0.39) per
    share and 50,000 shares of common stock that may be issued upon the exercise of 50,000 stock purchase options with an exercise price
    of CAD$1.02 (approximately US$0.81) per share and 50,000 shares of common stock that may be issued upon the exercise of 50,000 stock
    purchase options with an exercise price of CAD$0.30 (approximately US$0.22) per share and 168,750 shares of common stock that may
    be issued upon the exercise of 168,750 stock purchase options with an exercise price of CAD$0.20 (approximately US$0.15) per share.
Page
28
(8)
Includes,
    676,080 shares held directly by Mr. T. H. Williams and 150,000 shares of common stock that may be issued upon the exercise of 150,000
    stock purchase options with an exercise price of CAD$0.45 (approximately US$0.33) per share and 200,000 shares of common stock that
    may be issued upon the exercise of 200,000 stock purchase options with an exercise price of CAD$0.50 (approximately US$0.39) per
    share and 50,000 shares of common stock that may be issued upon the exercise of 50,000 stock purchase options with an exercise price
    of CAD$1.02 (approximately US$0.81) per share and 50,000 shares of common stock that may be issued upon the exercise of 50,000 stock
    purchase options with an exercise price of CAD$0.30 (approximately US$0.22) per share and 100,000 shares of common stock that may
    be issued upon the exercise of 100,000 stock purchase options with an exercise price of CAD$0.20 (approximately US$0.15) per share..
(9)
Includes
    27,839,464 shares held directly by Pendinas Ltd., a company wholly owned by Mr. G. R. Williams. Mr. G. R. Williams is not related
    to Mr. T. M. Williams, Mr. J. M. Williams nor Mr. T. H. Williams.
(10)
Includes
    12,200,000 shares held directly by Wydler Global Equity Fund.
(11)
Includes
    8,670,807 shares held directly by Ordan Enterprises Ltd.
(12)
Includes
    7,700,752 shares held directly by Norma Investment Limited.
B.
Related Party Transactions
As
at and for the year ended December 31, 2023, the Company has the following related party transactions:
2023
2022
2021
Directors fees
$
7,505
$
8,970
$
8,000
Salaries, wages, consultants and benefits
667,229
659,558
612,492
Selling and marketing
70,439
126,920
77,906
Stock-based compensation (Note 10)
188,961
276,207
237,348
Software technology development (Note 8)
248,780
246,016
214,843
Closing balance for the year
$
1,182,914
$
1,317,671
$
1,150,589
The
Company has liabilities of $79,852 (2022 - $80,874) as at December 31, 2023, to current directors, officers and companies owned by the
current directors and officers of the Company for employment, director and consulting fees.
During
the year ended December 31, 2023, the Company granted 400,000 options with an exercise price of CAD$0.30 ($0.22) per share to current
directors and officers of the Company. Subsequent to the year ended December 31, 2023, the Company granted 1,056,250 options with an
exercise price of CAD$0.20 ($0.14) to current directors and officers of the Company.
During
the year ended December 31, 2022, the Company granted 900,000 options with an exercise price of CAD$0.50 ($0.39) per share to current
directors and officers of the Company.
During
the year ended December 31, 2021, the Company granted the following options to related parties:
a)
400,000
    options with an exercise price of CAD$0.50 ($0.39) per share
b)
400,000
    options with an exercise price of CAD$1.02 ($0.80) per share
The
related party transactions are in the normal course of operations and were granted at the exchange amount, which is the amount of consideration
established and agreed to by the related parties.
C.
Interests of Experts and Counsel
Not
applicable.
ITEM 8.
FINANCIAL INFORMATION
A.
Consolidated Statements and Other Financial Information
The
Company's financial statements are stated in United States dollars and are prepared in accordance with US GAAP.
Page
29
Please
see "Item 18—Financial Statements" below for additional information required to be disclosed under this item.
Legal
Proceedings
We
are not currently a party to any legal proceedings and were not a party to any other legal proceeding, during the fiscal year ended December
31, 2023. We are currently not aware of any legal proceedings proposed to be initiated against us. However, from time-to-time, we may
become subject to claims and litigation generally associated with any business venture.
Dividend
Policy
We
do not anticipate declaring or paying any cash dividends to holders of our common stock in the near term. We currently intend to retain
future earnings, if any, to finance the growth of our business. We may, however, adopt in the future a policy to make cash dividends.
Our future dividend policy is within the discretion of our board of directors. Any determination to pay or not pay cash dividends will
depend upon then-existing conditions, including our results of operations, financial condition, capital requirements, investment opportunities,
statutory and contractual restrictions on our ability to pay dividends and other factors our board of directors may deem relevant.
B.
Significant Changes
Not
applicable.
ITEM 9.
THE OFFER AND LISTING
A.
Offer and Listing Details
Our
common shares are currently quoted on the TSX Venture Exchange in Canada under the symbol "KIDZ". Our shares continue to
be quoted on the OTC under the symbol "KDOZF".
B.
Plan of distribution
Not
applicable.
C.
Markets
Our
common shares are currently quoted on the TSX Venture Exchange in Canada under the symbol "KIDZ". Our shares continue to
be quoted on the OTC under the symbol "KDOZF".
D.
Selling shareholders
Not
applicable.
E.
Dilution
Not
applicable.
F.
Expenses of the issue
Not
applicable.
ITEM 10.
ADDITIONAL INFORMATION
A.
Share Capital
Not
applicable.
B.
Memorandum and Articles of Association
The
information required to be disclosed under this item is incorporated by reference to Exhibit 1.1 filed January 4, 2023, for the updated
bylaws and memorandum and articles of association for the Company as a result of its continuation into Canada effective January 1, 2023.
Exhibit
1.2 contains the Certificate of Continuance into Canada.
Page
30
C.
Material Contracts
The
Company has Management Services Agreements with its Chairman and Chief Financial Officer and are included as Exhibits 10.37 to 10.39.
D.
Exchange Controls
There
are no government laws, decrees or regulations in Anguilla or Canada which restrict the export or import of capital, or which affect
the remittance of dividends, interest, or other payments to non-resident holders of the Company's common shares.
E.
Taxation
Effective
January 1, 2023, continued out of Anguilla and into Canada and became a Canadian taxpayer.
The
following subsidiaries pay taxes:
-
Kidoz
    Ltd. This is an Israeli Company. The Israeli corporate tax rate has been 12%. During the year ended December 31, 2023, our Israeli
    subsidiary was officially recognized as a Preferred Technology Enterprise in Israel, a prestigious status that comes with extensive
    tax relief benefits as provided by law and applied to the fiscal 2022 tax year.
-
Shoal
    Media (Canada) Inc. This is an Canadian Company. The Canadian corporate tax rate has been 23%
-
The
    remaining subsidiaries are not profitable and therefore have an assessed taxation loss.
There
are the following taxation effects for our shareholders subsequent to continuation of the Company into Canada.
Canadian
Federal Income Tax Consequences
The
following summarizes the principal Canadian federal income tax consequences applicable to the holding and disposition of common shares
in the capital of the Company by a non Canadian residents, and who holds common shares solely as capital property. This summary is based
on the current provisions of the Income Tax Act (Canada), referred to as the "Tax Act", the regulations thereunder, all amendments
thereto publicly proposed by the government of Canada, the published administrative practices of Revenue Canada, Customs, Excise and
Taxation, and the current provisions of the Canada-United States Income Tax Convention, 1980, as amended, referred to as the "Treaty".
Except as otherwise expressly provided, this summary does not take into account any provincial, territorial or foreign (including without
limitation, any United States) tax law or treaty. It has been assumed that all currently proposed amendments will be enacted substantially
as proposed and that there is no other relevant change in any governing law or practice, although no assurance can be given in theses
respects.
Each
non Canadian shareholder is advised to obtain tax and legal advice applicable to such their particular circumstances.
Every
non-Canadian shareholder is liable to pay a Canadian withholding tax on every dividend that is or is deemed to be paid or credited to
the non-Canadian shareholder on the non-Canadian shareholder common shares. The statutory rate of withholding tax is 25% of the gross
amount of the dividend paid. There are treaties which reduces the statutory rate with respect to dividends paid to a non-Canadian shareholder
for the purposes of the treaties. Where applicable, the general rate of withholding tax under the treaties is 15% of the gross amount
of the dividend. The Company is required to withhold the applicable tax from the dividend payable to the non-Canadian shareholder, and
to remit the tax to the Receiver General of Canada for the account of the non-Canadian shareholder.
Page
31
Pursuant
to the Tax Act, a non-Canadian shareholder will not be subject to Canadian capital gains tax on any capital gain realized on an actual
or deemed disposition of a common share, including a deemed disposition on death, provided that the non-Canadian shareholder did not
hold the common share as capital property used in carrying on a business in Canada, and that neither the non-Canadian shareholder nor
persons with whom the non-Canadian shareholder did not deal at arms-length (alone or together) owned or had the right or an option to
acquire 25% or more of the issued shares of any class of the Company at any time in the five years immediately preceding the disposition.
F.
Dividends and paying agents.
Not
applicable.
G.
Statement by experts.
Not
applicable.
H.
Documents on display
We
are subject to certain of the reporting requirements of the Exchange Act, as applicable to "foreign private issuers" as defined
in Rule 3b-4 under the Exchange Act. As a foreign private issuer, we are exempt from certain provisions of the Exchange Act. Accordingly,
our proxy solicitations are not subject to the disclosure and procedural requirements of Regulation 14A under the Exchange Act, and transactions
in our equity securities by our officers and directors are exempt from reporting and the "short-swing" profit recovery provisions
contained in Section 16 of the Exchange Act. In addition, we are not required under the Exchange Act to file periodic reports and financial
statements as frequently or as promptly as U.S. companies whose securities are registered under the Exchange Act. However, we file with
the Securities and Exchange Commission an annual report on Form 20-F containing financial statements audited by an independent accounting
firm. We also submit to the Securities and Exchange Commission reports on Form 6-K containing (among other things) press releases and
unaudited financial information. We post our annual report on Form 20-F on our website (www.kidoz.net) promptly following the filing
of our annual report with the Securities and Exchange Commission. The information on our website is not incorporated by reference into
this annual report.
Any
statement in this Report about any of our contracts or other documents is not necessarily complete. If the contract or document is filed
as an exhibit to this report or any of our annual reports or to a registration statement or other documents filed by us, the contract
or document is deemed to modify the description contained in this Report. You must review the exhibits themselves for a complete description
of the contract or document. In the event any of the documents that are filed as exhibits to our annual reports are not in English, the
original language version is on file in our offices and is available upon request.
The
Company makes available through the Corporate Kidoz Inc. section of its internet website at http://investor.kidoz.net its annual report
on Form 20-F, quarterly reports on Form 6-K, current reports on Form 6-K, Press Releases, Research Reports, and amendments to those reports
filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act, as soon as reasonably practicable after electronically filing
such material with the Securities and Exchange Commission.
You
may read and copy any reports, statements, or other information that we file with TSX Venture exchange on SEDAR. The address of this
Internet site is http://www.sedar.com.
In
addition, we file with the Securities and Exchange Commission at the Securities and Exchange Commission's Public Reference Room
at 100 F Street, N.E., Washington D.C. 20549. You can request copies of these documents, upon payment of a duplicating fee, by writing
to the Securities and Exchange Commission. Please call the Securities and Exchange Commission at 1-800-SEC-0330 for further information
on the operation of the Public Reference Room.
We
file our reports with the Securities and Exchange Commission electronically through the Securities and Exchange Commission's Electronic
Data Gathering, Analysis and Retrieval ("EDGAR") system. The Securities and Exchange Commission maintains an Internet site
that contains reports, proxy and information statements, and other information regarding companies that file electronically with the
Securities and Exchange Commission through EDGAR. The address of this Internet site is http://www.sec.gov.
Page
32
I.
Subsidiary Information
Not
applicable.
J.
Annual Report to Security Holders
We
held our Annual Meeting of Stockholders in Anguilla on November 30, 2023. The Annual Meeting was for the purposes of electing to set
the number of directors to be 6; electing our directors; and to ratify the appointment of Davidson & Company LLP, Chartered Professional
Accountants, as our independent auditors for the 2023 fiscal year; to ratify our Rolling Stock Option plan as amended by inclusion of
an Israeli Taxpayers Appendix thereto; and for any other regular business. The Company issued a schedule 14A proxy statement to the shareholders
on October 5, 2023.
All
nominees for directors were elected; the appointment of auditors was ratified; and the Rolling Stock Option plan as amended by inclusion
of an Israeli Taxpayers Appendix thereto was ratified. The voting on each matter is set forth below:
(a)
Elected to set the number of directors to be 6.
For
Against
Not Voted
48,285,949
25,489
Nil
(b)
Elected the following persons to serve as directors until the next annual meeting or until their successors are duly qualified:
T.
M. Williams
J.
M. Williams
E.
Ben Tora
F.
Curtis (Non-Executive Director)
C.
Kalborg (Non-Executive Director)
M.
David (Non-Executive Director)
Election
of the Directors of the Company.
NOMINEE
FOR
WITHHOLD
NOT VOTED
Mr. T. M. Williams
47,344,236
9,750
957,452
Mr. J. M. Williams
47,344,236
9,750
957,452
Mr. E. Ben Tora
47,345,036
8,950
957,452
Ms. F. Curtis
47,343,098
10,888
957,452
Mr. C. Kalborg
47,345,036
8,950
957,452
Mr. M. David
47,345,236
8,750
957,452
(c)
Approved the selection of Davidson & Company LLP, Chartered Professional Accountants as the Company's independent auditors
for the fiscal year ending December 31, 2023.
FOR
WITHHOLD
NOT VOTED
48,294,809
16,629
nil
Page
33
(d)
The ratification of the existing 2015, 10% Rolling Stock Option plan, as amended by inclusion of an Israeli Taxpayers Appendix thereto,
as more particularly set out in Schedule B to the Proxy Statement was approved.
FOR
AGAINST
NOT VOTED
46,304,936
1,049,050
957,452
Subsequent
to their appointment the Board of Directors ratified the continuation of Mr. Jason Williams as CEO of the Kidoz Inc. organization and
Mr. T. M. Williams, will continue to serve as Chairman.
ITEM 11.
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
The
Company is exposed to various financial risks resulting from both its operations. The Company does not enter into financial instrument
agreements including derivative financial instruments for speculative purposes. The fair values of the Company's financial instruments
approximate the carrying values, due to their short terms to maturity or attached market rates of interest. The Company is exposed to
various risks related to its financial instruments as follows:
(i)
Market
    risk
Market
    risk is the risk that changes in market prices, such as interest rates and foreign exchange rates, will affect the Company's
    net income and the value of financial instruments. The objective of market risk management is to manage and control market risk exposures
    within acceptable limits, while maximizing returns.
(ii)
Foreign
    exchange risk
The
    Company has exposure to foreign exchange risk which is the risk that the fair value or future cash flows of a financial instrument
    will fluctuate because of changes in foreign exchange rates. Foreign exchange risk arises when future commercial transactions and
    recognized assets and liabilities are denominated in a currency that is not the Company's functional currency. The Company
    has not entered into foreign exchange purchase contracts to manage its foreign exchange risk, because, in management's view,
    the cost of setting up the contracts is in excess of the risks associated with a sudden change in the exchange rates. Management
    continually monitors the exchange rates and will enter into risk prevention measures when warranted. The Company is also exposed
    to foreign exchange risk on its cash, accounts receivable and accounts payable balances that are mostly denominated in U.S. dollars
    and Euros, whereas our employment and consulting costs are mostly denominated in Israeli Shekels, British Pounds, Canadian Dollars,
    and US Dollars.
(iii)
Credit
    Risk
Credit
    risk is the risk that one party to a financial instrument will cause a financial loss for the other party by failing to discharge
    an obligation. The Company is subject to credit risk with respect to cash and accounts receivable. The Company's maximum exposure
    to credit risk at the end of the reporting period is the carrying value of these assets. Credit risk is managed through a credit
    approval process and monitoring procedures, and there are no expected credit losses.
All
    cash balances are held at a major banking institutions in Israel, United Kingdom and Canada and management believes the risk of loss
    to be remote.
(iv)
Liquidity
    risk
Liquidity
    risk is the risk that arises when the maturity of assets and the maturity of liabilities do not match. An unmatched position potentially
    enhances profitability but can also increase the risk of loss. The Company's liquidity needs can be met through a variety of
    sources. The Company generates cash from operations, and in the past by issuances of common shares. The Company manages liquidity
    risk by maintaining sufficient cash balances to meet liabilities when due and by continuously monitoring actual and forecast cash
    flows.
Page
34
ITEM 12:
DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES
Stock
Option Plans
In
the year ended December 31, 2015, the 1999, 2001 and 2005 Stock Option Plans were discontinued and replaced with the 2015 Stock Option
Plan.
Our
Board of Directors administers the 2015 Stock Option Plan. Our Board is authorized to construe and interpret the provisions of the Stock
Option Plans, to select employees, directors, and consultants to whom options will be granted, to determine the terms and conditions
of options and, with the consent of the grantee, to amend the terms of any outstanding options. The 2015 Stock Option Plan provides for
the granting of stock options to the employees, directors, advisors, and consultants of the Corporation to encourage proprietary interest
in the Corporation, to encourage such employees to remain in the employ of the Corporation or such directors, advisors and consultants
to remain in the service of the Corporation, and to attract new employees, directors, advisors and consultants with outstanding qualifications.
Our
Board determines the terms and provisions of each option granted under the Stock Option Plans, including the exercise price, vesting
schedule, repurchase provisions, rights of first refusal and form of payment. The Plan shall not exceed 10% of the number of Shares of
the Company issued and outstanding as of each Award Date, inclusive of all Shares presently reserved for issuance pursuant to previously
granted stock options, unless shareholder approval is obtained in advance. The Exercise Price shall be that price per Share, as determined
by the Board in its sole discretion, and announced as of the Award Date, at which an Option Holder may purchase a Share upon the exercise
of an Option, provided that it shall not be less than the closing price of the Company's Shares traded through the facilities of
the Exchange on the day preceding the Award Date, less any discount permitted by the Exchange, or such other price as may be required
or permitted by the Exchange.
The
term of options under the Stock Option Plans will be determined by our Board; however, the term of the stock option may not be for more
than ten years. Where the award agreement permits the exercise of an option for a period of time following the recipient's termination
of service with us, disability, or death, that option will terminate to the extent not exercised or purchased on the last day of the
specified period or the last day of the original term of the option, whichever occurs first.
If
a third party acquires the Company through the purchase of all or substantially all of our assets, a merger or other business combination,
except as otherwise provided in an individual award agreement, all unexercised options will terminate unless assumed by the successor
corporation.
During
the year ended December 31, 2023, the Company granted 1,885,000 options to employees and consultants with an exercise price of CAD$0.30
($0.23) where 2% vests per month. 400,000 of these options were granted to directors and officers of the Company.
During
the year ended December 31, 2023, there were nil (2022 – nil) options exercised and 460,000 (2022 – 285,600) options cancelled
and 1,988,000 (2022 – 506,150) options expired unexercised.
During
the year ended December 31, 2022, the Company granted 2,550,000 options to employees and consultants with an exercise price of CAD$0.50
($0.37) where 2% vests per month. 900,000 of these options were granted to directors and officers of the Company.
During
the year ended December 31, 2022, 285,600 options were cancelled, and 506,150 options expired unexercised.
Subsequent
to the year ended December 31, 2023, 2,318,750 options were granted to employees and consultants with an exercise price of CAD$0.20 ($0.14)
where 2% vests per month. 1,056,250 options of these options were granted to directors and officers of the Company.
Warrants
The
Company granted 230,000 common share purchase warrants to Research Capital Corporation ("RCC") in the year ended December
31, 2022. Each warrant will entitle the holder thereof to purchase one common share in the capital of the Company at an exercise price
of $0.77 (CAD$0.98) at any time up to 24 months following the date of issuance and expired unexercised on April 1, 2023.
Page
35
PART
II
ITEM 13:
DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES
Not
Applicable.
ITEM
14: MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS
Not
applicable.
ITEM
15: CONTROLS AND PROCEDURES
(a) Disclosure Controls and Procedures
Our
Chairman, Chief Executive Officer and Chief Financial Officer, after evaluating the effectiveness of our disclosure controls and procedures
(as defined in Rules 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934, as amended) as of the end of the period covered
by this report, have concluded that, as of such date, our disclosure controls and procedures were effective to ensure that the information
required in the reports that we file or submit under the Securities Exchange Act of 1934, as amended, is recorded, processed, summarized
and reported, within the time periods specified in the SEC's rules and forms, and such information is accumulated and communicated
to our management, including our chief executive officer and chief financial officer, as appropriate to allow timely decisions regarding
required disclosure.
(b) Management's Annual Report on Internal Control over Financial Reporting
Our
management, including the Chairman, Chief Executive Officer, and the Chief Financial Officer, is responsible for establishing and maintaining
adequate internal control over financial reporting. Internal control over financial reporting is defined in Rule 13a-15(f) promulgated
under the Securities Exchange Act of 1934, as amended, as a process designed to provide reasonable assurance regarding the reliability
of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles.
Because
of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Projections of any evaluation
of effectiveness to future periods are subject to the risk that the controls may become inadequate because of changes in conditions,
or that the degree of compliance with the policies or procedures may deteriorate.
Our
management evaluated of the effectiveness of the Company's design and operation of its disclosure controls and procedures as defined
in Exchange Act Rule 13a-15(f), based on the framework set forth in the Internal Control—Integrated Framework (1992) issued by
the by the Committee of Sponsoring Organizations of the Treadway Commission ("COSO"). Based on our evaluation, we believe
that, as of December 31, 2023, the Company's internal control over financial reporting is effective under the COSO framework.
(c) Attestation report of the registered public accounting firm.
This
Form 20-F Annual Report does not include an attestation report of the Company's registered public accounting firm regarding internal
control over financial reporting. Management's report was not subject to attestation by the Company's registered public accounting
firm pursuant to rules of the Securities and Exchange Commission that permit the Company to provide only management's report in
this Form 20-F Annual Report.
(d) Changes in internal control over financial reporting
There
were no changes in our internal control over financial reporting that occurred during the year ended December 31, 2023, that have materially
affected, or are reasonably likely to materially affect, our internal control over financial reporting.
Page
36
ITEM 16.
[RESERVED]
ITEM 16A.
AUDIT COMMITTEE FINANCIAL EXPERT
The
Company does not have an audit committee financial expert serving on its audit committee. Each of the Company's directors serving
on the audit committee is financially literate and is able to professionally discharge the duties incumbent upon audit committee members.
However, none of the audit committee members are "financial experts". At such time as the Company may secure a project and
is able to raise the significant funds necessary to exploit the opportunity, the Company will make a concerted effort to identify and
appoint a financial expert to its audit committee.
ITEM 16B.
CODE OF ETHICS
We
have adopted a Code of Business Conduct and Ethics that applies to all entities controlled by the Company and its employees, directors,
officers, and agents of the Company. We will provide any person, free of charge, a copy of our Code of Business Conduct and Ethics upon
written request to our principal executive office.
ITEM 16C.
PRINCIPAL ACCOUNTANT FEES AND SERVICES
During
the year ended December 31, 2023, the Company incurred fees of $105,104 (2022 - $129,946) from the principal accountant during fiscal
2023 - Davidson & Company LLP, $105,104 of these fees related to audit fees (2022 - $129,946).
Our
Audit Committee reviewed the audit and non-audit services rendered by Davidson & Company LLP, during the periods set forth above
and concluded that such services were compatible with maintaining the auditors' independence. All audit and non-audit services
performed by our independent accountants are pre-approved by our Audit Committee to assure that such services do not impair the auditors'
independence from us.
ITEM 16D.
EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES.
Not
applicable
ITEM 16E:
PURCHASE OF EQUITY SECURITIES BY THE COMPANY AND AFFILIATED PURCHASERS
During
the year ended December 31, 2022, the Company filed a Notice of Intention to Make a Normal Course Issuer Bid (the "Notice of Intention")
with the TSX Venture Exchange ("TSX-V") on September 15, 2022. Upon receiving approval from the TSX-V, effective September
16, 2022, the Company commenced a normal course issuer bid ("NCIB"), whereby the Company may purchase for cancellation up
to 6,579,074 shares, being 5% of the issued and outstanding shares as of such date. Any purchases under the NCIB will be made on the
open market through the facilities of the TSX-V or alternative Canadian trading systems. Purchases will be made at market prices of the
shares at the time of acquisition.
Purchases
under the NCIB may commence as of September 16, 2022, and will end on the earlier of: (i) September 14, 2023; or (ii) the date on which
the Company has purchased the maximum number of shares to be acquired under the NCIB. The Company may terminate the NCIB earlier if it
feels it is appropriate to do so.
The
normal course issuer bid will be conducted through Kidoz Inc's broker Research Capital Corporation. The purchase and payment of
the common shares will be made in accordance with the requirements of the TSX-V and applicable securities laws. The actual number of
common shares purchased, timing of purchases and share price will depend upon market conditions at the time and securities law requirements.
All common shares acquired will be returned to treasury and cancelled.
Page
37
The
purchase of and payment for the shares will be made in accordance with the requirements of the TSX-V and applicable securities laws.
The actual number of shares purchased, timing of purchases and share price will depend upon market conditions at the time and securities
law requirements. All shares acquired pursuant to the NCIB will be returned to treasury and cancelled.
During
the year ended December 31, 2023, 41,500 shares which were acquired during the year ended December 31, 2022, pursuant to the NCIB in
effect, at an aggregate cost of $11,793, were cancelled.
During
the year ended December 31, 2023, 2,000 shares were acquired pursuant to the NCIB in effect, at an aggregate cost of $517. During the
year ended December 31, 2023, 2,000 shares were cancelled.
During
the year ended December 31, 2022, 275,000 shares were acquired pursuant to the NCIB in effect, at an aggregate cost of $87,778. During
the year ended December 31, 2022, 233,500 shares were cancelled.
ITEM 16F:
CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANTS
Not
Applicable.
ITEM 16G:
CORPORATE GOVERNANCE
We
are organized under the laws of Canada, and our Common Shares are listed for trading on the TSX Venture Stock Exchange ("TSX-V")
under the symbol "KIDZ". We comply with the applicable laws of Canada and rules and regulations of the TSX-V, including rules
related to corporate governance practices.
General
Corporate
governance refers to the policies and structure of the board of directors of a company whose members are elected by and are accountable
to the shareholders of the Company. Corporate governance encourages establishing a reasonable degree of independence of the board of
directors from executive management and the adoption of policies to ensure the board of directors recognizes the principles of good management.
The Board of the Company is committed to sound corporate governance practices, as such practices are both in the interests of shareholders
and help to contribute to effective and efficient decision-making.
Board
of Directors
Directors
are considered to be independent if they have no direct or indirect material relationship with the Company. A "material relationship"
is a relationship which could, in the view of the Company's Board, be reasonably expected to interfere with the exercise of a director's
independent judgment.
The
non-independent members of the Board of the Company are as follows:
Tryon
    (Tarrnie) Williams
Chairman
Jason
    Williams
CEO
Eldad
    Ben Tora
President
    & General Manager EMEA
The
independent, non-executive members of the Board of the Company
are
as follows
:
Claes
Kalborg
Moshe
David
Fiona
Curtis
Management
has been delegated the responsibility for meeting defined corporate objectives, implementing approved strategic and operating plans,
carrying on the Company's business in the ordinary course, managing cash flow, evaluating new business opportunities, recruiting
staff, and complying with applicable regulatory requirements. The board facilitates its independent supervision over management by reviewing
and approving long-term strategic, business and capital plans, material contracts and business transactions, and all debt and equity
financing transactions. Through its audit committee, the Board examines the effectiveness of the Company's internal control processes
and management information systems.
Board
Meetings
The
Company holds regular Board meetings which include presentations by the Company's management to give the directors additional insight
into the Company's business.
Ethical
Business Conduct
The
Board is of the view that the fiduciary duties placed on individual directors by the Company's governing corporate legislation
and the common law are sufficient to ensure that the Board operates independently of management and in the best interests of the Company.
Nomination
of Directors
The
Board reviews its size each year. It considers the number of directors to recommend to the shareholders for election at the annual meeting
of shareholders, taking into account the number required to carry out the Board's duties effectively and to maintain a diversity
of views and experience. Current board members stand for 1 year until re-election at the next board meeting.
Page
38
Assessments
The
Board monitors the adequacy of information given to directors, communication between the Board and management and the strategic direction
and processes of the Board and committees. The Board has frequent communications with management and other board members and is regularly
consulted on important Company decisions. In this context, the Board periodically reviews the performance of the Board as a whole, any
standing committees it has appointed, and individual directors, to ensure each is performing effectively.
Quorum
A
quorum of shareholders is present at a meeting of shareholders if the holders of not less than 33 1/3% of the shares entitled to vote
at the meeting are present in person or represented by proxy (including electronically), irrespective of the number of persons actually
present at the meeting.
ITEM 16H.
MINE SAFETY DISCLOSURE
Not
applicable.
ITEM 16I.
DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS
Not
applicable.
ITEM 16J.
INSIDER TRADING POLICIES
Pursuant
to applicable SEC transition guidance, the disclosure required by this Item 16J will be applicable to the Company for the fiscal year
ending December 31, 2024.
ITEM 16K.
CYBERSECURITY
At
Kidoz Inc., cybersecurity risk management is an integral part of our overall enterprise risk management program. Our cybersecurity risk
management program is designed to align with industry practices and provide a framework for handling cybersecurity threats and incidents.
We identify and assess risks from cybersecurity threats as part of our overall risk assessment process. We have implemented certain tools
and processes to aid us in our efforts to identify, assess, prevent, and manage such cybersecurity risks. In addition to our own expertise,
we also collaborate with subject matter specialists, as necessary, to gather insights for identifying and assessing cybersecurity threat
risks, their likelihood and severity, and potential preventative measures and mitigations.
Our
framework includes steps for (i) assessing the severity of a cybersecurity threat, (ii) identifying the source of a cybersecurity threat,
(iii) implementing cybersecurity countermeasures and mitigation strategies and (iv) informing management of material cybersecurity threats
and incidents.
Our
cybersecurity team engages as needed our Cyber Security division experts for risk assessment and system enhancements. In addition, our
cybersecurity team is involved in annual training.
Our
Board of Directors has overall oversight responsibility for our risk management and delegates the daily supervision of cybersecurity
issues to our VP Product. Our VP Product reports material cybersecurity incidents to the Chairman and Chief Executive Officer, and if
needed, the Chairman and Chief Executive Officer will report the incident to our Board of Directors to take appropriate and timely measures
in response to the incident.
Our
management is responsible for identifying, considering, and assessing material cybersecurity risks on an ongoing basis, establishing
processes to ensure that such potential cybersecurity risk exposures are monitored, putting in place appropriate mitigation measures
and maintaining cybersecurity programs. We established our data security management committee (the "Data Security Management Committee")
in 2021, composed of personnel from our cyber-Security division, IT center, and management team, to improve data security. The Data Security
Management Committee is responsible for developing data security protection strategies, plans, and systems and providing required support
and coordinating on major data security incidents. Our cybersecurity programs are under the direction of our VP Product who receives
reports from our cybersecurity team and monitors the prevention, detection, mitigation, and remediation of cybersecurity incidents. Our
VP Product and other dedicated personnel are experienced information systems professionals with many years of experience in maintaining
cybersecurity.
During
the year ended December 31, 2023, we did not identify any cybersecurity threats that have materially affected or are reasonably likely
to materially affect our business strategy, results of operations, or financial condition. However, despite our efforts, we cannot eliminate
all risks from cybersecurity threats, or provide assurances that we have not experienced an undetected cybersecurity incident. For more
information about these risks, see "Item 3. Key Information — 3.D. Risk Factors — Risks Related to Our Business —
Breaches of network or information technology security, natural disasters or terrorist attacks could have an adverse effect on our business.
Page
39
PART
III
ITEM 17:
FINANCIAL STATEMENTS
Not
Applicable.
ITEM 18:
FINANCIAL STATEMENTS
Our
Financial Statements are included in pages F-1.
ITEM 19.
EXHIBITS
The
following exhibits are filed as part of this annual report:
EXHIBIT
LIST
The
following instruments are included as exhibits to this Report. Exhibits incorporated by reference are so indicated.
Exhibit
    Number
Description
1.1
Kidoz Inc. Bylaws in accordance with Canada Business Corporations Act (a)
1.2
Kidoz Inc. Certificate of Continuance issued by Canada Business Corporations Act (a)
1.3
Kidoz Inc. Articles of Continuance filed with Canada Business Corporations Act (a)
4.4
Convertible Debenture between the Company and unrelated parties dated July 2, 2002. (c)
4.5
Common Stock Purchase Warrant between the Company and unrelated parties dated July 2, 2002. (c)
10.2
Asset Purchase Agreement by and between Bingo, Inc. and Progressive Lumber, Corp. dated January 18, 1999. (b)
10.24
Amended Consulting Agreement dated February 28, 2002, between the Company, T.M. Williams (Row), Ltd., and T.M. Williams. (d)
10.32
Code of Business Conduct and Ethics dated December 22, 2006. (e)
10.33
Amended Consulting Agreement dated June 16, 2010, between the Company, T.M. Williams (Row), Ltd., and T.M. Williams. (f)
10.37
Amended Consulting Agreement dated August 1, 2013, between the Company, T.M. Williams (Row), Ltd., and T.M. Williams. (g)
10.38
Consulting Agreement dated January 1, 2014, between the Company, Jayska Consulting Ltd., and J.M. Williams. (g)
10.39
Consulting Agreement dated January 1, 2014, between the Company, LVA Media Inc., and J.M. Williams. (g)
10.41
Consulting Agreement dated January 1, 2014, between the Company, Bromley Accounting Services Limited, and H. W. Bromley. (g)
10.42
Share Purchase Agreement for the purchase of Kidoz Ltd. (h)
8
List of Subsidiaries of the Registrant
12.1
Certification of Chief Executive Officer required by Rule 13a-14(a) and Rule 15d-14(a) (Section 302 Certification)
12.2
Certification of Chief Financial Officer required by Rule 13a-14(a) and Rule 15d-14(a) (Section 302 Certification)
13.1
Certification under Section 906 of the Sarbanes-Oxley Act of 2002 of the Chief Executive Officer.
13.2
Certification under Section 906 of the Sarbanes-Oxley Act of 2002 of the Chief Financial Officer.
101.
    INS*
XBRL
    Instance Document
101.SCH*
XBRL
    Taxonomy Extension Schema Document
101.CAL*
XBRL
    Taxonomy Calculation Linkbase Document
101.DEF*
XBRL
    Taxonomy Extension Definition Linkbase Document
101.LAB*
XBRL
    Taxonomy Label Linkbase Document
101.PRE*
XBRL
    Taxonomy Presentation Linkbase Document
104*
Cover
    Page Interactive Date File (formatted as Inline XBRL and contained in Exhibit 101)
(a)
Previously
    filed with the Company's report on Form 8-K on January 4, 2023.
(b)
Previously
    filed with the Registrant's registration statement on Form 10 on June 9, 1999.
(c)
Previously
    filed with the Company's quarterly report on Form 10-Q for the period ended September 30, 2002, on November 14, 2002.
(d)
Previously
    filed with the Company's quarterly report on Form 10-Q for the period ended September 30, 2002, on August 14, 2002.
(e)
Previously
    filed with the Company's report on Form 8-K on December 26, 2006.
(f)
Previously
    filed with the Company's report on Form 8-K on June 17, 2010.
(g)
Previously
    filed with the Company's report on Form 8-K on March 24, 2014.
(h)
Previously
    filed with the Company's report on Form 8-K on March 12, 2019.
Page
40
SIGNATURES
The
registrant hereby certifies that it meets all of the requirements for filing on Form 20-F and that it has duly caused and authorized
the undersigned to sign this annual report on its behalf.
KIDOZ
    INC.
By:
/s/
    J. M. Williams
J.
    M. Williams
Chief
    Executive Officer
By:
/s/
    H. W. Bromley
H.
    W. Bromley
Chief
    Financial Officer
Date:
April
    25, 2024
Page
41
F1
– FINANCIAL STATEMENTS
Kidoz
Inc.
and subsidiaries
Consolidated
Financial Statements
Years
ended December 31, 2023, 2022 and 2021
Report
    of Independent Registered Public Accounting Firm for the years ended December 31, 2023, 2022 and 2021
PCAOB
                                            ID is
731
F-2
Consolidated
    Financial Statements
Consolidated
    Balance Sheets
F-4
Consolidated
    Statements of Operations and Comprehensive (Loss) Income
F-5
Consolidated
    Statements of Stockholders' Equity
F-6
Consolidated
    Statements of Cash Flows
F-7
Notes
    to Consolidated Financial Statements
F-8
F-
1
Report
of Independent Registered Public Accounting Firm
To
the Shareholders and Directors of
Kidoz
Inc.
Opinion
on the Consolidated Financial Statements
We
have audited the accompanying consolidated balance sheets of Kidoz Inc. (the "Company") as of December 31, 2023 and
2022, and the related consolidated statements of operations and comprehensive (loss) income, stockholders' equity, and cash
flows for the years ended December 31, 2023, 2022 and 2021, and the related notes (collectively referred to as the "financial
statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the
Company as of December 31, 2023 and 2022, and the results of its operations and its cash flows for the years ended December 31,
2023, 2022 and 2021, in conformity with accounting principles generally accepted in the United States of America.
Basis
for Opinion
These
financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial
statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United
States) ("PCAOB") and are required to be independent with respect to the Company in accordance with the U.S. federal securities
laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We
conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company
is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits
we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion
on the effectiveness of the entity's internal control over financial reporting. Accordingly, we express no such opinion.
Our
audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error
or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding
the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant
estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits
provide a reasonable basis for our opinion.
Critical
Audit Matters
The
critical audit matters communicated below are matters arising from the current period audit of the financial statements that were communicated
or required to be communicated to the audit committee and that: (1) relate to accounts or disclosures that are material to the financial
statements and (2) involved our especially challenging, subjective, or complex judgments. The communication of critical audit matters
does not alter in any way our opinion on the financial statements, taken as a whole, and we are not, by communicating the critical audit
matters below, providing separate opinions on the critical audit matters or on the accounts or disclosures to which they relate.
F-
2
Evaluation
of Intangible Assets and Goodwill Impairment Analysis
As
described in Notes 6 and 7 to the consolidated financial statements, the carrying amount of the Company's sole reporting unit,
consisting of intangible assets, and goodwill, was $3,903,158 as at December 31, 2023 and
is a significant portion (33%) of the Company's total assets. As discussed in notes 2(l), 2(m) and 2(n) to the consolidated
financial statements, the Company performs impairment testing on an annual basis or whenever events or changes in circumstances
indicate that the carrying value of a reporting unit may exceed its recoverable amount. During the year ended December 31, 2023, the
Company determined that no impairment was necessary.
We
identified the evaluation of the goodwill impairment analysis as a critical audit matter. The estimated recoverable amount of the reporting
unit uses forward-looking estimates that involved a high degree of subjective auditor judgment, in addition to specialized skills and
knowledge to evaluate. The sensitivity of reasonably possible changes to those assumptions could have a significant impact on the determination
of the recoverable amount of the reporting unit and the Company's assessment of impairment.
Addressing
the matter involved performing procedures and evaluating audit evidence in connection with forming our overall opinion on the consolidated
financial statements. These procedures include, among others:
●
Evaluating
                                            projected earnings before interest, taxes, depreciation, and amortization ("EBITDA")
                                            by comparing historical EBITDA forecasts to actual results, current industry, market and economic trends and by examining the historical
                                            trend analysis of both increases and decreases in actual revenues and costs as compared to
                                            forecasted amounts;
●
Involving
                                            our valuation specialists to assist in testing certain significant assumptions described above,
                                            such as discount rates and long-term growth rates;
●
Performing
                                            sensitivity analyses on significant assumptions to evaluate the changes in fair value that
                                            would result from changes in these assumptions; and
●
Assessing
                                            the adequacy of the associated disclosures in the financial statements.
Reliability
of Internally-Generated Reports Supporting Revenues
The
Company uses an underlying operating system to track ad tech advertising revenue and report this information to customers and suppliers.
As disclosed in Note 2(c) of the consolidated financial statements, the Company records revenues when a customer obtains control of promised
services, which in certain instances, is determined by the Company's underlying operating and ad tech systems.
We
identified relying on internally-generated reports as a critical audit matter. Assessing the reliability of information produced by the
Company as audit evidence requires significant judgment with respect to testing and evaluating the information to determine if it is
sufficient and appropriate for purposes of the audit. Auditing the Company's accounting for revenue from contracts with customers
was challenging and complex due to the dependency on these internally-generated reports.
Addressing
the matter involved performing procedures and evaluating audit evidence in connection with forming our overall opinion on the consolidated
financial statements. These procedures include, among others:
●
Testing,
                                            on a sample basis, the completeness and accuracy of the underlying data within the Company's
                                            billing system;
●
Testing,
                                            on a sample basis, credit notes issued to customers to determine if there is a history of
                                            modification;
●
Comparing
                                            the Company's internally-generated reports to similar reports as provided by key customers
                                            to determine if any difference were within an acceptable range of variance; and
●
Confirming,
                                            on a sample basis, revenues directly with customers.
We
have served as the Company's auditor since 2010.
/s/
DAVIDSON & COMPANY LLP
Vancouver,
    Canada
Chartered
    Professional Accountants
April
    25, 2024
F-
3
Kidoz
Inc.
and subsidiaries
(Expressed
in United States Dollars)
Consolidated
Balance Sheets
As at December 31,
2023
2022
Assets
Current assets:
Cash
$
1,469,224
$
2,363,530
Accounts receivable, less allowance for doubtful accounts
$
106,839
(2022 - $
53,241
) (Note 3)
6,261,305
7,400,282
Prepaid expenses (Note 4)
102,895
71,248
Total Current Assets
7,833,424
9,835,060
Equipment (Note 5)
29,234
33,522
Goodwill (Note 7)
3,301,439
3,301,439
Intangible assets (Note 6)
601,719
1,147,457
Long term cash equivalent
23,847
22,310
Operating lease right-of-use assets (Note 14)
6,781
36,529
Security deposit
10,636
10,766
Total Assets
$
11,807,080
$
14,387,083
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable
$
3,834,082
$
4,826,667
Accrued liabilities
691,239
703,880
Accounts payable and accrued liabilities - related party (Note 15)
79,852
80,874
Derivative liability – warrants (Note 2i and 10)
-
51
Government CEBA current loan (Note 9)
-
44,296
Operating lease liabilities – current portion (Note 14)
7,605
32,116
Total Current Liabilities
4,612,778
5,687,884
Operating lease liabilities – non-current portion (Note 14)
-
7,440
Total Liabilities
4,612,778
5,695,324
Commitments (Note 12)
Stockholders' Equity (Note 10):
Common stock,
no
par value,
unlimited
shares
authorized,
131,304,499
shares issued and outstanding
(December 31, 2022 -
131,347,999
)
51,167,693
50,664,887
Treasury shares,
ni
l shares (December 31, 2022 –
41,500
)
-
(
11,793
)
Accumulated deficit
(
43,997,971
)
(
41,985,915
)
Accumulated other comprehensive income:
Foreign currency translation adjustment
24,580
24,580
Total Stockholders' Equity
7,194,302
8,691,759
Total Liabilities and Stockholders' Equity
$
11,807,080
$
14,387,083
See
accompanying notes to consolidated financial statements.
F-
4
Kidoz
Inc.
and subsidiaries
(Expressed
in United States Dollars)
Consolidated
Statements of Operations and Comprehensive (Loss) Income
Years ended December 31,
2023
2022
2021
Revenue:
Ad tech advertising revenue
$
11,879,425
$
14,425,918
$
12,194,518
Programmatic advertising revenue
1,223,392
361,394
58,507
Content revenue
224,007
309,744
231,614
Total revenue
13,326,824
15,097,056
12,484,639
Cost of sales:
8,392,767
9,973,211
7,152,307
Total cost of sales
8,392,767
9,973,211
7,152,307
Gross profit
4,934,057
5,123,845
5,332,332
Operating expenses:
Amortization and expiration of operating lease right-of-use assets (Note
    14)
29,748
28,935
40,851
Depreciation and amortization (Notes 5 and 6)
558,740
557,267
565,540
Directors fees
7,505
8,970
8,000
General and administrative (Note 17)
673,654
760,936
604,882
Provision for doubtful debts
84,952
-
-
Salaries, wages, consultants and benefits
705,830
751,811
693,964
Selling and marketing
1,268,218
1,039,713
641,393
Stock awareness program (Note 18)
146,300
161,332
402,845
Stock-based compensation (Note 10)
515,116
696,248
660,266
Software technology development (Note 8)
2,999,079
2,496,877
1,678,848
Total operating expenses
6,989,142
6,502,089
5,296,589
(Loss) Income before other income (expense) and income taxes
(
2,055,085
)
(
1,378,244
)
35,743
Other income (expense):
Foreign exchange gain (loss)
1,139
(
142,857
)
(
69,835
)
Gain on derivative liability – warrants (Note 10(c))
51
23,314
60,207
Interest and other income
1,049
185
241
Gain on settlement of debt (Note 9)
14,812
-
-
Net (loss) income before income taxes
(
2,038,034
)
(
1,497,602
)
26,356
Provision for income taxes (Note 13)
25,978
(
60,010
)
(
6,178
)
Deferred taxation recovery (expense) (Note 13)
-
210,499
(
210,499
)
Net loss and comprehensive loss
$
(
2,012,056
)
$
(
1,347,113
)
$
(
190,321
)
Basic and diluted loss per common share (Note 2)
$
(
0.02
)
$
(
0.01
)
$
(
0.00
)
Weighted average common shares outstanding, basic (Note 2)
131,305,254
131,481,983
131,340,989
Weighted average common shares outstanding, diluted (Note 2)
131,305,254
131,481,983
131,340,989
See
accompanying notes to consolidated financial statements.
F-
5
Kidoz
Inc.
and subsidiaries
(Expressed
in United States Dollars)
Consolidated
Statements of Stockholders' Equity
Years
ended December 31, 2023, 2022 and 2021
Common stock
Accumulated Other Comprehensive income
Shares
Amount
Treasury shares
Accumulated Deficit
Foreign currency translation adjustment
Total Stockholders' Equity
Balance, December 31, 2020
131,124,989
$
49,094,096
$
-
$
(
40,448,481
)
$
24,580
$
8,670,195
Shares issued
230,000
179,293
-
-
-
179,293
Options exercised
70,000
31,264
-
-
-
31,264
Stock-based compensation
-
660,266
-
-
-
660,266
Net loss
-
-
-
(
190,321
)
-
(
190,321
)
Balance, December 31, 2021
131,424,989
$
49,964,919
$
-
$
(
40,638,802
)
$
24,580
$
9,350,697
Shares issued
156,510
79,705
-
-
-
79,705
Repurchase of common shares
(
233,500
)
(
75,985
)
(
11,793
)
-
-
(
87,778
)
Stock-based compensation
-
696,248
-
-
-
696,248
Net loss
-
-
-
(
1,347,113
)
-
(
1,347,113
)
Balance, December 31, 2022
131,347,999
$
50,664,887
$
(
11,793
)
$
(
41,985,915
)
$
24,580
$
8,691,759
Repurchase of common shares
(
43,500
)
(
12,310
)
11,793
-
-
(
517
)
Stock-based compensation
-
515,116
-
-
-
515,116
Net loss
-
-
-
(
2,012,056
)
-
(
2,012,056
)
Balance, December 31, 2023
131,304,499
$
51,167,693
$
-
$
(
43,997,971
)
$
24,580
$
7,194,302
See
accompanying notes to consolidated financial statements.
F-
6
Kidoz
Inc.
and subsidiaries
(Expressed
in United States Dollars)
Consolidated
Statements of Cash Flows
Years ended December 31,
2023
2022
2021
Cash flows from operating activities:
Net (loss) income
$
(
2,012,056
)
$
(
1,347,113
)
$
(
190,321
)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization
558,740
557,267
565,540
Amortization and expiration of operating lease right-of-use assets
29,748
28,935
40,851
Gain on derivative liability – warrants
(
51
)
(
23,314
)
(
60,207
)
Gain on settlement of debt
(
14,812
)
-
-
Provision for doubtful debts
84,952
-
-
Shares issued for services
-
-
179,293
Stock awareness program – warrants granted for services
-
-
83,572
Deferred income tax expense
-
(
210,499
)
210,499
Stock-based compensation
515,116
696,248
660,266
Unrealized foreign exchange (income) loss
(
1,407
)
(
1,052
)
134
Changes in operating assets and liabilities:
Accounts receivable
1,054,025
(
772,418
)
(
2,694,324
)
Prepaid expenses
(
31,647
)
34,220
(
15,498
)
Accounts payable and accrued liabilities
(
1,006,248
)
1,471,471
2,071,728
Net cash (used in) provided by operating activities
(
823,640
)
433,745
851,533
Cash flows from investing activities:
Acquisition of equipment
(
8,714
)
(
22,806
)
(
8,152
)
Long-term cash equivalent
-
-
7,768
Security deposits
-
(
3,727
)
-
Net cash used in investing activities
(
8,714
)
(
26,533
)
(
384
)
Cash flows from financing activities:
Repayment of Government CEBA loan
(
29,484
)
-
-
Options exercised
-
-
31,264
Payments for repurchase of common shares
(
517
)
(
87,778
)
-
Proceeds of short-term loan
-
-
200,000
Repayment of short-term loan
-
-
(
200,000
)
Payments on operating lease liabilities
(
31,951
)
(
34,511
)
(
29,851
)
Net cash (used in) provided by financing activities
(
61,952
)
(
122,289
)
1,413
Change in cash
(
894,306
)
284,923
852,562
Cash, beginning of year
2,363,530
2,078,607
1,226,045
Cash, end of year
$
1,469,224
$
2,363,530
$
2,078,607
Supplementary information:
Interest paid
$
-
$
-
$
987
Income taxes paid (recovery)
$
3,697
$
3,129
$
2,989
Non-cash transaction
Shares issued to settle accounts payable and accrued liabilities
$
-
$
79,705
$
-
See
accompanying notes to consolidated financial statements.
F-
7
Kidoz
Inc.
and subsidiaries
(Expressed
in United States Dollars)
Notes
to Consolidated Financial Statements
Years
ended December 31, 2023, 2022 and 2021
1.
Introduction
:
Nature
of business
Kidoz
Inc. (the "Company", "Kidoz" or "we"), incorporated in Anguilla, British West Indies in 2005, is
a focused AdTech solution provider. The Company is the owner of the Kidoz SDK and Kidoz Connect Programmatic network, a Children's Online Privacy
Protection Rule ("COPPA") & General Data Protection Regulation ("GDPR") compliant contextual mobile advertising
network that reaches kids, teens, and families every month. Google certified and Apple approved, Kidoz provides a suite of advertising
technology that connects brands, content publishers and families. The Company has created a network that app developers use to compliantly
monetize traffic and advertisers rely on to reach their customers. Kidoz has developed contextual targeting tools to enable brands to
reach their ideal customers.
Effective
January 1, 2023, Kidoz Inc. continued out of the jurisdiction of the Anguillian Business Companies Act, 2022, and into the jurisdiction
of the Canada Business Corporations Act ("CBCA").
Continuing
operations
These
consolidated financial statements have been prepared assuming the realization of assets and the settlement of liabilities in the normal
course of operations. The Company expects to continue to generate sufficient cash flows to fund continued operations for the next 12
months, or, in the absence of adequate cash flows from operations, obtaining additional financing.
Management
continues to review operations in order to identify additional strategies designed to generate cash flow, improve the Company's
financial position, and enable the timely discharge of the Company's obligations.
There
have been many factors which have affected the world economies in recent years. These include global pandemics (i.e. coronavirus COVID-19),
inflation, the war in Ukraine and Gaza and many more. These factors have adversely affected workforces, economies, and financial markets
globally. It has also disrupted the normal operations of many businesses, including the Company's. These factors have affected
spending, thereby affecting demand for the Company's product and the Company's business and its results of operations. It
is not possible for the Company to predict the duration or magnitude of these factors at this time and the full effects on the Company's
business, its future results of operations, or ability to raise funds.
2.
Summary
of significant accounting policies
:
(a)
Basis of presentation
:
These
consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States
of America ("US GAAP") applicable to annual financial information.
F-
8
Kidoz
Inc.
and subsidiaries
(Expressed
in United States Dollars)
Notes
to Consolidated Financial Statements
Years
ended December 31, 2023, 2022 and 2021
2.
Summary
                                            of significant accounting policies (Continued):
(a)
Basis
of presentation:  (Continued)
The
financial statements include the accounts of the Company's subsidiaries:
Company
Registered
% Owned
Shoal Media (Canada) Inc.
British Columbia, Canada
100
%
Kidoz Ltd.
Israel
100
%
Prado Media Ltd.
British Columbia, Canada
100
%
Rooplay Media Kenya Limited
Kenya
100
%
Shoal Media Inc.
Anguilla
100
%
Shoal Games (UK) Plc
United Kingdom
0
%
Shoal Media (UK) Ltd.
United Kingdom
100
%
During
the year ended December 31, 2022, Coral Reef Marketing Inc. merged with Kidoz Inc. and Kidoz Inc. is the surviving entity.
During
the year ended December 31, 2023, Shoal Games (UK) Plc was discontinued.
In
addition, there are the following dormant subsidiaries; Bingo.com (Antigua) Inc., Bingo.com (Wyoming) Inc., and Bingo Acquisition Corp.
All
inter-company balances and transactions have been eliminated in the consolidated financial statements.
(b)
Use of estimates
:
The
preparation of consolidated financial statements in conformity with US GAAP, requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial
statements and recognized revenues and expenses for the reporting periods.
Significant
areas requiring the use of estimates include the collectability of accounts receivable, the valuation of stock-based compensation, the
valuation of deferred tax assets and liabilities, the useful lives of intangible assets, the inputs used in assessing goodwill impairment,
and the derivative liability – warrants valuation. Actual results may differ significantly from these estimates.
(c)
Revenue recognition
:
In
accordance with ASC 606, Revenue from Contracts with Customers, revenue is recognized when a customer obtains control of promised services.
The amount of revenue recognized reflects the consideration to which the Company expects to be entitled to receive in exchange for these
services.
We
derive substantially all of our revenue from the sale of Ad tech advertising revenue.
F-
9
Kidoz
Inc.
and subsidiaries
(Expressed
in United States Dollars)
Notes
to Consolidated Financial Statements
Years
ended December 31, 2023, 2022 and 2021
2.
Summary
                                            of significant accounting policies (Continued):
(c)
Revenue recognition: (Continued)
To
achieve this core principle, the Company applied the following five steps:
1)
Identify the contract with a customer
A
contract with a customer exists when (i) the Company enters into an enforceable contract with a customer that defines each party's
rights regarding the services to be transferred, whose impression count will form the basis of the revenue and identifies the payment
terms related to these services, (ii) the contract has commercial substance and, (iii) the Company determines that collection of substantially
all consideration for services that are transferred is probable based on the customer's intent and ability to pay the promised
consideration. The Company applies judgment in determining the customer's ability and intention to pay, which is based on a variety
of factors including the customer's historical payment experience or, in the case of a new customer, published credit and financial
information pertaining to the customer.
2)
Identify the performance obligations in the contract
Performance
obligations promised in a contract are identified based on the services that will be transferred to the customer that are both capable
of being distinct, whereby the customer can benefit from the service either on its own or together with other resources that are readily
available from third parties or from the Company, and are distinct in the context of the contract, whereby the transfer of the services
is separately identifiable from other promises in the contract. To the extent a contract includes multiple promised services, the Company
must apply judgment to determine whether promised services are capable of being distinct and distinct in the context of the contract.
If these criteria are not met the promised services are accounted for as a combined performance obligation.
3)
Determine the transaction price
The
transaction price is determined based on the consideration to which the Company will be entitled in exchange for transferring services
to the customer. None of the Company's contracts contain financing or variable consideration components.
4)
Allocate the transaction price to performance obligations in the contract
If
the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation.
Contracts that contain multiple performance obligations require an allocation of the transaction price to each performance obligation
based on a relative standalone selling price basis. The Company determines standalone selling price based on the price at which the performance
obligation is sold separately. If the standalone selling price is not observable through past transactions, the Company estimates the
standalone selling price taking into account available information such as market conditions and internally approved pricing guidelines
related to the performance obligations.
F-
10
Kidoz
Inc.
and subsidiaries
(Expressed
in United States Dollars)
Notes
to Consolidated Financial Statements
Years
ended December 31, 2023, 2022 and 2021
2.
Summary
                                            of significant accounting policies (Continued):
(c)
Revenue recognition: (Continued)
5)
Recognize revenue when or as the Company satisfies a performance obligation
The
Company satisfies performance obligations at a point in time as discussed in further detail under "Disaggregation of Revenue"
below. Revenue is recognized at the time the related performance obligation is satisfied by transferring a promised service to a customer.
Disaggregation
of Revenue
All
of the Company's performance obligations, and associated revenue, are generally transferred to customers at a point in time. The
Company has the following revenue streams:
1)
Ad tech advertising revenue - The pricing and terms for all our in-game advertising arrangements are mostly governed by insertion order
which generally stipulates the payment terms, the duration (usually short term in nature), the number of advertising units delivered
(e.g. impressions, completed views, or cost per install) and the contractually agreed upon price per advertising unit. The Company has
concluded that the delivery of the Ad tech advertising is delivered at a point in time and, as such, has concluded these deliveries are
a single performance obligation. The Company invoices fees which are generally variable based on the arrangement, which would typically
include the number of impressions delivered at a specified price per application. For impressions delivered, revenue is recognized in
the month in which the Company delivers the application to the end consumer or the month when the campaign ends.
2)
Programmatic revenue - The Company generally offers these services under a programmatic bid on a Cost-per-Impression (CPM) basis. Our
customers upload their advertisements into a demand side platform which then connects to our Publisher Software Development Kit ("SDK")
through an exchange platform and on a bid system agree on the CPM rate and the impressions to be served.
The
Company has concluded that the delivery of the Programmatic advertising is delivered at the earlier of month end or at a point in time
and, as such, has concluded these deliveries are a single performance obligation. The Company is deemed to be the principal in the transaction
and therefore recognizes the revenue on a gross basis and commissions are recognized as cost of sales. The Company invoices fees which
are generally variable based on the arrangement, which would typically include the number of impressions delivered at a specified price
per application. For impressions delivered, revenue is recognized in the month in which the Company delivers the application to the end
consumer or the month when the campaign ends.
3)
Content revenue – The Company recognizes content revenue on the following forms of revenue:
a)
Carriers and Original Equipment Manufacturer ("OEMs") - The Company generally offers these services under a customer contract
per tablet device license fee model with OEMs. Monthly or quarterly license fees are based on the OEM agreement with the number of devices
the Kidoz Kid Mode is installed upon.
F-
11
Kidoz
Inc.
and subsidiaries
(Expressed
in United States Dollars)
Notes
to Consolidated Financial Statements
Years
ended December 31, 2023, 2022 and 2021
2.
Summary
                                            of significant accounting policies (Continued):
(c)
Revenue recognition: (Continued)
b)
Rooplay - The Company generates revenue through subscriptions or premium sales of Rooplay, (www.rooplay.com) the cloud-based EduGame
system for kids to learn and play within its games on smartphones and tablet devices, such as Apple's iPhone and iPad, and mobile
devices utilizing Google's Android operating system. The revenue is recognized net of platform fees.
c)
Rooplay licensing - The Company licenses its branded educational games under a monthly cost per game agreement license fee model. Monthly
license fees are based on the number of games licensed.
d)
In App purchases - The Company generates revenue through in-application purchases ("in-app purchases") within its games;
(i.e. Trophy Bingo (www.trophybingo.com)) on smartphones and tablet devices, such as Apple's iPhone and iPad, and mobile devices
utilizing Google's Android operating system. Users can download the Company's free-to-play games through Android, Amazon,
iOS and Facebook Messenger (this was discontinued in fiscal 2021) and pay to acquire virtual currency which can be redeemed in the game
for power plays. The initial download of the mobile game from the Digital Storefront does not create a contract under ASC 606 because
of the lack of commercial substance; however, the separate election by the player to make an in-application purchase satisfies the criterion
thus creating a contract under ASC 606.
The
Company has identified the following performance obligations in these contracts:
i. Ongoing
game related services such as hosting of game play, storage of customer content, when and if available content updates, maintaining the
virtual currency management engine, tracking gameplay statistics, matchmaking as it relates to multiple player gameplay, etc.
ii. Obligation
to the paying player to continue displaying and providing access to the virtual items within the game.
Neither
of these obligations are considered distinct since the actual mobile game and the related ongoing services are both required to purchase
and benefit from the related virtual items. As such, the Company's performance obligations represent a single combined performance
obligation which is to make the game and the ongoing game related services available to the players. The revenue is recognized net of
platform fees.
(d)
Foreign currency
:
The
consolidated financial statements are presented in United States dollars, the functional currency of the Company and its subsidiaries.
The Company accounts for foreign currency transactions and translation of foreign currency financial statements under ASC 830, Foreign
Currency Matters. Transaction amounts denominated in foreign currencies are translated at exchange rates prevailing
F-
12
Kidoz
Inc.
and subsidiaries
(Expressed
in United States Dollars)
Notes
to Consolidated Financial Statements
Years
ended December 31, 2023, 2022 and 2021
2.
Summary of significant accounting policies (Continued):
(d)
Foreign currency: (Continued)
at
the transaction dates. Carrying values of monetary assets and liabilities are adjusted at each balance sheet date to reflect the exchange
rate at that date. Non-monetary assets and liabilities are translated at the exchange rate on the original transaction date.
Gains
and losses from restatement of foreign currency monetary and non-monetary assets and liabilities are included in operations. Revenues
and expenses are translated at the rates of exchange prevailing on the dates such items are recognized in earnings.
(e)
Cash and Cash Equivalents
:
Cash
and cash equivalents includes cash on hand, deposits held at call with financial institutions and other short-term, highly liquid investments
with original maturities of three months or less that are readily convertible to known amounts of cash, and subject to an insignificant
risk of change in value.
(f)
Accounts receivable
:
Trade
and other accounts receivable are reported at face value less any provisions for uncollectible accounts considered necessary. Accounts
receivable includes receivables from online platforms and trade receivables from customers. The Company estimates doubtful accounts on
an item-by-item basis and includes over-aged accounts as part of allowance for doubtful accounts, which are generally ones that are greater
than ninety-days overdue. Bad debt expense, for the year ended December 31, 2023 was $
84,952
(2022 - $
nil
and 2021 - $
945
). (Note 3)
(g)
Equipment
:
Equipment
is recorded at cost less accumulated depreciation. Depreciation is provided for annually on the declining balance method over the following
periods:
Equipment and computers
3
years
Furniture and fixtures
5
years
Expenditures
for maintenance and repairs are charged to expenses as incurred. Major improvements are capitalized. Gains and losses on disposition
of equipment are included in operations as realized.
In
accordance with ASU No. 2016-02 "Leases (Topic 842), leasehold improvements are accounted as a prepayment of rental payments since
they are deemed to be an asset of the lessor.
(h)
Software Technology Development Costs
:
The
Company expenses all software technology development costs as incurred for the year ended December 31, 2023, 2022 and 2021. As at December
31, 2023 and 2022, all capitalized software technology development costs have been fully amortized and the Company has no capitalized
software technology development costs.
F-
13
Kidoz
Inc.
and subsidiaries
(Expressed
in United States Dollars)
Notes
to Consolidated Financial Statements
Years
ended December 31, 2023, 2022 and 2021
2.
Summary
                                            of significant accounting policies (Continued):
(h)
Software Technology Development Costs: (Continued)
Total
software technology development costs were $
16,055,557
as at December 31, 2023 (2022 - $
13,056,478
and 2021 - $
10,559,601
) (Note 8).
(i)
Derivative liability – warrants
The
Company's warrants have an exercise price in Canadian dollars whilst the Company's functional currency is US Dollars. Therefore,
in accordance with ASU 815 – Derivatives and Hedging, the warrants have a derivative liability value. This liability value has
no effect on the cashflow of the Company and does not represent a cash payment of any kind.
(j)
Stock-based compensation
:
The
Company accounts for stock-based compensation under the provisions of Accounting Standard Codification ("ASC") 718, "Compensation-Stock
Compensation". Under the fair value recognition provisions, stock-based compensation expense is measured at the grant date for
all stock-based awards to employees, directors and non-employees and is recognized as an expense over the requisite service period, which
is generally the vesting period. The Black-Scholes option valuation model is used to calculate fair value.
The
fair value of each option grant has been estimated on the date of the grant using the Black-Scholes option-pricing model with the following
weighted average assumptions:
2023
2022
2021
Expected dividend yield
-
-
-
Volatility
118.91
%
90.20
%
107.06
%
Risk-free interest rate
3.69
%
1.57
%
0.52
%
Expected life of options
5
years
5
years
5
years
Forfeiture rate
5
%
5
%
5
%
(k)
Right-of-use assets
:
The
Company determines if an agreement is a lease at inception. The Company evaluates the lease terms to determine whether the lease will
be accounted for as an operating or finance lease. Operating leases are included in operating lease right-of-use ("ROU")
assets, operating lease liabilities, current portion, and operating lease liabilities, net of current portion in the consolidated balance
sheets.
ROU
assets represent the Company's right to use an underlying asset for the lease term and lease liabilities represent our obligation
to make lease payments arising from the lease.
Operating
lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term.
As most of the Company leases do not provide an implicit rate, the Company uses the incremental borrowing rate based on the information
available at commencement date in determining the present value of lease payments. The Company uses the implicit rate when readily determinable.
The operating lease ROU asset also includes any lease payments made and excludes lease incentives. The Company's lease terms may
include
F-
14
Kidoz
Inc.
and subsidiaries
(Expressed
in United States Dollars)
Notes
to Consolidated Financial Statements
Years
ended December 31, 2023, 2022 and 2021
2.
Summary of significant accounting policies (Continued):
(k)
Right-of-use assets: (Continued)
options
to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense for lease payments is
recognized on a straight-line basis over the lease term.
A
lease that transfers substantially all of the benefits and risks incidental to ownership of property are accounted for as finance leases.
At the inception of a finance lease, an asset and finance lease obligation is recorded at an amount equal to the lesser of the present
value of the minimum lease payments and the property's fair market value. Finance lease obligations are classified as either current
or long-term based on the due dates of future minimum lease payments, net of interest.
(l)
Impairment of long-lived assets and long-lived assets to be disposed of
:
If
such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of
the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount and the fair
value less costs to sell.
(m)
Intangible assets
The
Company identified the following intangible assets in the acquisition of Kidoz Ltd. Finite life intangible assets are recorded at historical
cost less accumulated amortization based on their estimated useful life and any impairment is determined in accordance with ASC 360.
The Company does not have any indefinite life intangible assets. Amortization is provided for annually on the straight-line method over
the following periods:
Amortization period
Ad Tech technology
5
years
Kidoz OS technology
3
years
Customer relationships
8
years
The
Company reviews intangible assets subject to amortization quarterly to determine if any adverse conditions exist or a change in circumstances
has occurred that would indicate impairment or a change in the remaining useful life. If an impairment indicator exists, we test the
intangible asset for recoverability. For purposes of the recoverability test, amortizable intangible assets are grouped with other assets
and liabilities at the lowest level of identifiable cash flows if the intangible asset does not generate cash flows independent of other
assets and liabilities. If the carrying value of the asset group exceeds the undiscounted cash flows expected to result from the use
and eventual disposition of the asset group, the Company will write the carrying value down to the fair value in the period identified.
(n)
Goodwill
:
The
Company accounts for goodwill in accordance with the provisions of ASC 350, Intangibles-Goodwill and Others. Goodwill is the excess of
the purchase price over the fair value of identifiable assets acquired, less liabilities assumed, in a business combination. The Company
reviews goodwill for impairment. Goodwill is not amortized but is evaluated for impairment at least annually or whenever
events or changes in circumstances indicate that it is more likely than not that the carrying amount may not be recoverable.
F-
15
Kidoz
Inc.
and subsidiaries
(Expressed
in United States Dollars)
Notes
to Consolidated Financial Statements
Years
ended December 31, 2023, 2022 and 2021
2.
Summary of significant accounting policies (Continued):
(n)
Goodwill: (Continued)
The
goodwill impairment test is used to identify both the existence of impairment and the amount of impairment loss, and compares the fair
value of a reporting unit with its carrying amount and is based on discounted future cash flows, based on market multiples applied to
free cash flow. The determination of the fair value of our reporting units requires management to make significant estimates and assumptions
including the selection of control premiums, discount rates, terminal growth rates, forecasts of revenue and expense growth rates, income
tax rates, changes in working capital, depreciation, amortization and capital expenditures. Changes in assumptions concerning future
financial results, exogenous market conditions, or other underlying assumptions could have a significant impact on either the fair value
of the reporting unit or the amount of the goodwill impairment charge. If the carrying value of the reporting unit exceeds its fair value,
an impairment loss is recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting
unit.
During
the year ended December 31, 2023 and 2022, there was
no
impairment of goodwill.
(o)
Income taxes
:
The
Company follows the asset and liability method of accounting for income taxes. Under this method, current income taxes are recognized
for the estimated income taxes payable for the current period. The Company recognizes the income tax recovery from the receipt of tax
credits upon receipt of funds. Deferred income taxes are provided based on the estimated future tax effects of temporary differences
between financial statement carrying amounts of assets and liabilities and their respective tax bases, as well as the benefit of losses
available to be carried forward to future years for tax purposes.
Deferred
tax assets and liabilities are measured using the enacted tax rates that are expected to apply to taxable income in the years in which
those temporary differences are expected to be recovered and settled. The effect on deferred tax assets and liabilities of a change in
tax rates is recognized in operations in the period that includes the enactment date. A valuation allowance is recorded for deferred
tax assets when it is not more likely than not that such future tax assets will be realized.
(p)
Net income (loss) per share
:
ASC
260, "Earnings Per Share", requires presentation of basic earnings per share ("Basic EPS") and diluted earnings
per share ("Diluted EPS"). Basic earnings (loss) per share is computed by dividing earnings (loss) available to common stockholders
by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflects the potential dilution,
using the treasury stock method, that could occur if outstanding options or warrants were exercised and converted into common stock.
In computing diluted earnings per share, the treasury stock
method assumes that outstanding options and warrants are exercised and the proceeds are used to purchase common stock at the average
market price during the period.
F-
16
Kidoz
Inc.
and subsidiaries
(Expressed
in United States Dollars)
Notes
to Consolidated Financial Statements
Years
ended December 31, 2023, 2022 and 2021
2.
Summary of significant accounting policies (Continued):
(p)
Net income (loss) per share: (Continued)
Options
and warrants will have a dilutive effect under the treasury stock method only when the average market price of the common stock during
the period exceeds the exercise price of the options and warrants. In periods where losses are reported, the weighted average number
of common shares outstanding excludes common stock equivalents because their inclusion would be anti-dilutive. A total of
8,066,000
(2022
-
8,859,000
and 2021 –
7,100,150
) stock options and warrants were excluded as at December 31, 2023.
The
income (loss) per share data for the year ended December 31, 2023 and 2022 are summarized as follows:
2023
2022
2021
Loss for the year
$
(
2,012,056
)
$
(
1,347,113
)
$
(
190,321
)
Basic and diluted weighted average number of common shares outstanding
131,305,254
131,481,983
131,340,989
Basic and diluted loss per common share outstanding
$
(
0.02
)
$
(
0.01
)
$
(
0.00
)
(q)
New accounting pronouncements and changes in accounting policies
:
In
November 2023, the Financial Standards Board issued ASU 2023-07, Improvements to Reportable Segment Disclosures ("ASU 2023-07"),
which requires that segment expenses deemed significant to the chief operating decision maker (CODM) typically incorporated in measuring
profit or loss of the segment should be disclosed. The guidance also requires that the difference between segment revenues and these
significant segment expenses is disclosed. Any annually disclosed segment information is now required to be reported in interim periods
as well. The guidance is effective for fiscal years beginning after December 15, 2023, and interim periods beginning after December 15,
2024. Public entities are required to apply the amendment retrospectively to prior periods presented in the financial statements. The
Company plans to adopt ASU 2023-07 effective for its Fiscal year 2024 and for the interim periods beginning in Fiscal 2024.
The
Company has evaluated all the recently issued, but not yet effective, accounting standards that have been issued or proposed by the Financial
Accounting Standards Board or other standards-setting bodies through the filing date of these consolidated financial statements and does
not believe the future adoption of any such pronouncements will have a material impact on its consolidated financial statements.
F-
17
Kidoz
Inc.
and subsidiaries
(Expressed
in United States Dollars)
Notes
to Consolidated Financial Statements
Years
ended December 31, 2023, 2022 and 2021
2.
Summary of significant accounting policies (Continued):
(r)
Financial instruments and fair value measurements
:
(i)
Fair values:
Fair
value is the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most
advantageous market for the asset or liability in an orderly transaction between market participants on measurement date. The Company
classifies assets and liabilities recorded at fair value under the fair value hierarchy based upon the observability of inputs used in
valuation techniques. Observable inputs (highest level) reflect market data obtained from independent sources, while unobservable inputs
(lowest level) reflect internally developed market assumptions. The fair value measurements are classified under the following hierarchy:
Level
1—Observable inputs that reflect quoted market prices (unadjusted) for identical assets and liabilities in active markets;
Level
2—Observable inputs, other than quoted market prices, that are either directly or indirectly observable in the marketplace for
identical or similar assets and liabilities, quoted prices in markets that are not active, or other inputs that are observable or can
be corroborated by observable market data for substantially the full term of the assets and liabilities; and
Level
3—Unobservable inputs that are supported by little or no market activity that are significant to the fair value of assets or liabilities.
When
available, we use quoted market prices to determine fair value, and we classify such measurements within Level 1. In some cases where
market prices are not available, we make use of observable market-based inputs to calculate fair value, in which case the measurements
are classified within Level 2. If quoted or observable market prices are not available, fair value is based upon valuations in which
one or more significant inputs are unobservable, including internally developed models that use, where possible, current market-based
parameters such as interest rates, yield curves and currency rates. These measurements are classified within Level 3.
Fair
value measurements are classified according to the lowest level input or value-driver that is significant to the valuation. A measurement
may therefore be classified within Level 3 even though there may be significant inputs that are readily observable.
Fair
value measurement includes the consideration of nonperformance risk. Nonperformance risk refers to the risk that an obligation (either
by a counterparty) will not be fulfilled. For financial assets traded in an active market (Level 1 and certain Level 2), the nonperformance
risk is included in the market price. For certain other financial assets and liabilities (certain Level 2 and Level 3), our fair value
calculations have been adjusted accordingly.
The
fair value of accounts receivable, accounts payable, accrued liabilities, and accounts payable, accrued liabilities - related party and
the government CEBA loan approximate their financial statement carrying amounts due to the short-term maturities of these instruments
and are therefore carried at their historical cost basis.
F-
18
Kidoz
Inc.
and subsidiaries
(Expressed
in United States Dollars)
Notes
to Consolidated Financial Statements
Years
ended December 31, 2023, 2022 and 2021
2.
Summary of significant accounting policies (Continued):
(r)
Financial instruments and fair value measurements: (Continued)
(i)
Fair values: (Continued)
Fair
values determined by Level 3 inputs are unobservable data points for the asset or liability, and included situations where there is little,
if any, market activity for the asset. Stock-based compensation and derivative liability – warrants were measured using Level 2
inputs. Goodwill impairment was measured using Level 3 inputs.
(ii)
Foreign currency risk:
The
Company operates internationally, which gives rise to the risk that cash flows may be adversely impacted by exchange rate fluctuations.
The Company has not entered into any forward exchange contracts or other derivative instrument to hedge against foreign exchange risk.
3.
Accounts Receivable
:
The
accounts receivable as at December 31, 2023, is summarized as follows:
2023
2022
Accounts receivable
$
6,368,144
$
7,453,523
Provision for doubtful accounts
(
106,839
)
(
53,241
)
Net accounts receivable
$
6,261,305
$
7,400,282
The
Company has a doubtful debt provision of $
106,839
(2022 - $
53,241
) for existing accounts receivable.
4.
Prepaid expenses
The
Company has other prepaid expenses of $
102,895
(2022 - $
71,248
) including leasehold improvements of $
1,604
(2022 - $
8,519
), which is
recognized as prepaid rent for the year ended December 31, 2023.
5.
Equipment
:
2023
Cost
Accumulated depreciation
Net book
Value
Equipment and computers
$
184,487
$
160,219
$
24,268
Furniture and fixtures
16,517
11,551
4,966
$
201,004
$
171,770
$
29,234
F-
19
Kidoz
Inc.
and subsidiaries
(Expressed
in United States Dollars)
Notes
to Consolidated Financial Statements
Years
ended December 31, 2023, 2022 and 2021
5. Equipment: (Continued)
2022
Cost
Accumulated depreciation
Net book
Value
Equipment and computers
$
175,773
$
148,266
$
27,507
Furniture and fixtures
16,517
10,502
6,015
$
192,290
$
158,768
$
33,522
Depreciation
expense was $
13,002
(2022 - $
9,807
and 2021 - $
9,468
) for the year ended December 31, 2023.
6.
Intangible assets
:
2023
Cost
Accumulated amortization
Net book
Value
Ad Tech technology
$
1,877,415
$
1,814,835
$
62,580
Kidoz OS technology
31,006
31,006
-
Customer relationship
1,362,035
822,896
538,139
$
3,270,456
$
2,668,737
$
601,719
2022
Cost
Accumulated amortization
Net book
Value
Ad Tech technology
$
1,877,415
$
1,439,351
$
438,064
Kidoz OS technology
31,006
31,006
-
Customer relationship
1,362,035
652,642
709,393
$
3,270,456
$
2,122,999
$
1,147,457
Amortization
expense was $
545,738
(2022 - $
547,460
and 2021 - $
556,072
) for the year ended December 31, 2023.
7.
Goodwill
:
The
Company has a goodwill balance of $
3,301,439
for year ended December 31, 2023 and 2022 from the acquisition of Kidoz Ltd.
The
Company's annual goodwill impairment analysis performed during the fourth quarter of fiscal 2023 and 2022 included a quantitative
analysis of the Kidoz Ltd. reporting unit (consisting of intangible assets (Note 6), deferred taxation (Note 13) and goodwill). The reporting
unit has a carrying amount of $
3,903,158
(2022 - $
4,448,896
) as at December 31, 2023. The Company performed a discounted cash flow analysis
for the reporting unit. These discounted cash flow models included management assumptions for expected sales growth, margin expansion,
operational leverage, capital expenditures, and overall operational forecasts. The Company classified these significant inputs and assumptions
as Level 3 fair value measurements. Based on the annual impairment test described above there was no additional impairment determined
for fiscal 2023 or fiscal 2022.
F-
20
Kidoz
Inc.
and subsidiaries
(Expressed
in United States Dollars)
Notes
to Consolidated Financial Statements
Years
ended December 31, 2023, 2022 and 2021
8.
Software technology development costs
:
The
Company develops software technology for our business. This software technology includes the continued development of the KIDOZ Safe
Ad Network, the KIDOZ Kid-Mode Operating System, and the KIDOZ publisher SDK.
During
the years ended December 31, 2023, 2022 and 2021, the Company has expensed the development costs of all products as incurred and has
expensed the following development costs.
2023
2022
2021
Opening total software technology development costs
$
13,056,478
$
10,559,601
$
8,880,753
Software technology development during the year
2,999,079
2,496,877
1,678,848
Closing total software technology development costs
$
16,055,557
$
13,056,478
$
10,559,601
9.
Government CEBA loan
:
During
the year ended December 31, 2020, the Company was granted a loan of $
44,296
(CAD$
60,000
) under the Canada Emergency Business Account
(CEBA) loan program for small businesses. The CEBA loan program is one of the many incentives the Canadian Government put in place in
response to COVID-19.
The loan is interest free and a third of the loan $
14,812
(CAD$
20,000
) is eligible for complete forgiveness if
$
29,624
(CAD$
40,000
) is fully repaid on or before December 31, 2023. If the loan cannot be repaid by December 31, 2023, it can be converted
into a
2
-year term loan charging an interest rate of
5
%
. During the year ended December 31, 2023, CAD$
40,000
was repaid and the Company
recognized a gain on settlement of debt of $
14,812
. (CAD$
20,000
)
During
the year ended December 31, 2021, the Company drew $
200,000
from its line of credit with the Leumi Bank in Israel. The loan was repaid
in full during the year ended December 31, 2021 with interest costs of $
987
.
10.
Stockholders'
Equity
:
The
holders of common stock are entitled to one vote for each share held. There are no restrictions that limit the Company's ability
to pay dividends on its common stock. The Company has not declared any dividends since incorporation. The Company's common stock
has no par value per common stock and there is only one class of common shares. The Company has an unlimited number of common shares
authorized for issue.
(a)
Common stock issuances:
Fiscal
2023
There
were no common stock issuances for the year ended December 31, 2023.
F-
21
Kidoz
Inc.
and subsidiaries
(Expressed
in United States Dollars)
Notes
to Consolidated Financial Statements
Years
ended December 31, 2023, 2022 and 2021
10. Stockholders'
Equity: (Continued)
(a)
Common stock issuances: (Continued)
Fiscal
2022
During
the year ended December 31, 2021, the Company engaged with Agora Internet Relations Corp. for an online marketing campaign on the AGORACOM
platform. The agreement was for 12 months for a fee of $
79,705
(CAD$
100,000
) payable in shares of the Company. During the year ended
December 31, 2022, the Company issued
156,510
shares in settlement of its obligation under the contract.
Fiscal
2021
During
the year ended December 31, 2021, the Company engaged Research Capital Corporation ("RCC") as a financial and capital markets
advisor. As part of the compensation for its services, RCC will receive a monthly fee of $
5,119
(CAD$
6,500
) for its trading advisory
services for a minimum of 6 months with extension by mutual agreement and a financial advisory fee to be satisfied by the issuance of
230,000
common shares of the Company valued at $
179,293
. In addition, the Company granted
230,000
common share purchase warrants to RCC
(Note 2(i)). Each warrant entitled the holder thereof to purchase one common share in the capital of the Company at an exercise price
of $
0.77
(CAD$
0.98
) at any time up to
24
months following the date of issuance and expire on April 1, 2023. During the year ended December
31, 2023, the warrants expired unexercised.
During
the year ended December 31, 2021, the holder of
70,000
stock options exercised their options for
70,000
shares for $
31,264
at an average
exercise price of $
0.45
(CAD$
0.54
) per share.
(b)
Normal Course Issuer Bid:
During
the year ended December 31, 2022, the Company filed a Notice of Intention to Make a Normal Course Issuer Bid (the "Notice of Intention")
with the TSX Venture Exchange ("TSX-V") on September 15, 2022. Upon receiving approval from the TSX-V, effective September
16, 2022, the Company commenced a normal course issuer bid ("NCIB"), whereby the Company may purchase for cancellation up
to
6,579,074
shares, being
5
% of the issued and outstanding shares as of such date. Any purchases under the NCIB will be made on the
open market through the facilities of the TSX-V or alternative Canadian trading systems. Purchases will be made at market prices of the
shares at the time of acquisition.
Purchases
under the NCIB may commence as of September 16, 2022, and will end on the earlier of: (i) September 14, 2023; or (ii) the date on which
the Company has purchased the maximum number of shares to be acquired under the NCIB. The Company may terminate the NCIB earlier if it
feels it is appropriate to do so.
The
normal course issuer bid will be conducted through Kidoz Inc's broker Research Capital Corporation. The purchase and payment of
the common shares will be made in accordance with the requirements of the TSX-V and applicable securities laws. The actual number of
common shares purchased, timing of purchases and share price will depend upon market conditions at the time and securities law requirements.
All common shares acquired will be returned to treasury and cancelled.
F-
22
Kidoz
Inc.
and subsidiaries
(Expressed
in United States Dollars)
Notes
to Consolidated Financial Statements
Years
ended December 31, 2023, 2022 and 2021
10. Stockholders'
Equity: (Continued)
(b)
Normal Course Issuer Bid: (Continued)
The
purchase of and payment for the shares will be made in accordance with the requirements of the TSX-V and applicable securities laws.
The actual number of shares purchased, timing of purchases and share price will depend upon market conditions at the time and securities
law requirements. All shares acquired pursuant to the NCIB will be returned to treasury and cancelled.
During
the year ended December 31, 2023,
41,500
shares which were acquired during the year ended December 31, 2022, pursuant to the NCIB in
effect, at an aggregate cost of $
11,793
, were cancelled.
During
the year ended December 31, 2023,
2,000
shares were acquired pursuant to the NCIB in effect, at an aggregate cost of $
517
. During the
year ended December 31, 2023,
2,000
shares were cancelled.
During
the year ended December 31, 2022,
275,000
shares were acquired pursuant to the NCIB in effect, at an aggregate cost of $
87,778
. During
the year ended December 31, 2022,
233,500
shares were cancelled.
(c)
Warrants:
A
summary of warrant activity for the year ended December 31, 2023 and 2022 are as follows:
Number of warrants
Exercise price
Expiry date
Outstanding, December 31, 2022 and 2021
230,000
CAD$
0.98
April 3, 2023
Expired
(
230,000
)
Outstanding December 31, 2023
-
A
fair value of the derivative liability of $
83,572
was estimated on the date of the subscription using the Binomial Lattice pricing model.
During
the year ended December 31, 2023, the warrants expired unexercised and there was a gain on derivative liability - warrants of $
51
(2022
- $
23,314
; 2021 - $
60,207
) and the derivative liability – warrants value reduced to $
nil
(2022 - $
51
) with the following assumptions:
December 31, 2022
December 31, 2021
Exercise price
CAD$
0.98
CAD$
0.98
Stock price
CAD$
0.35
CAD$
0.59
Expected term
0.25
years
1.25
years
Expected dividend yield
-
-
Expected stock price volatility
77.46
%
88.33
%
Risk-free interest rate
3.55
%
1.18
%
F-
23
Kidoz
Inc.
and subsidiaries
(Expressed
in United States Dollars)
Notes
to Consolidated Financial Statements
Years
ended December 31, 2023, 2022 and 2021
10. Stockholders'
Equity: (Continued)
(d)
Stock option plans:
2015
stock option plan
In
the year ended December 31, 2015, the shareholders approved the 2015 stock option plan. The 2015 stock option plan as amended in November
2020, is intended to provide incentive to employees, directors, advisors and consultants of the Company to encourage proprietary interest
in the Company, to encourage such employees to remain in the employ of the Company or such directors, advisors and consultants to remain
in the service of the Company, and to attract new employees, directors, advisors and consultants with outstanding qualifications. The
maximum number of shares issuable under the Plan shall not exceed
10
% of the number of Shares of the Company issued and outstanding as
of each Award Date unless shareholder approval is obtained in advance.
The
Board of Directors determines the terms of the options granted, including the number of options granted, the exercise price and their
vesting schedule. The maximum term possible is
10
years. Under the 2015 plan we have reserved
10
% of the number of Shares of the Company
issued and outstanding as of each Award Date. During the year ended December 31, 2020, the Rolling Stock Option plan was amended by inclusion
of an Israeli Taxpayers Appendix.
During
the year ended December 31, 2023, the Company granted
1,885,000
options to employees and consultants with an exercise price of CAD$
0.30
($
0.22
) where
2
% vests per month.
400,000
of these options were granted to directors and officers of the Company. Subsequent to the year
ended December 31, 2023,
2,318,750
options were granted to employees and consultants with an exercise price of CAD$
0.20
($
0.14
) where
2
% vests per month.
1,056,250
options of these options were granted to directors and officers of the Company.
During
the year ended December 31, 2023,
460,000
options were cancelled, and
1,988,000
options expired unexercised.
During
the year ended December 31, 2022, the Company granted
2,550,000
options to employees and consultants with an exercise price of CAD$
0.50
($
0.37
) where
2
% vests per month.
900,000
of these options were granted to directors and officers of the Company.
During
the year ended December 31, 2022,
285,600
options were cancelled, and
506,150
options expired unexercised.
During
the year ended December 31, 2021, the Company granted to employees and consultants the following options:
●
1,040,000
options at CAD$
0.50
($
0.39
) where
10
% vests on grant date,
15
% one year following and
2
%
                                            per month thereafter and expire on February 1, 2026.
400,000
of these options were granted
                                            to directors and officers of the Company.
●
35,000
options at CAD$
0.50
($
0.39
) which vested immediately and expire on February 1, 2026.
●
1,300,000
options at CAD$
1.02
($
0.80
) where
2
% vests per month and expire on April 6, 2026.
400,000
of these options were granted to directors and officers of the Company.
F-
24
Kidoz
Inc.
and subsidiaries
(Expressed
in United States Dollars)
Notes
to Consolidated Financial Statements
Years
ended December 31, 2023, 2022 and 2021
10. Stockholders'
Equity: (Continued)
(d)
Stock option plans: (Continued)
●
300,000
options at CAD$
0.66
($
0.52
) where
2
% vests per month and expire on July 12, 2026.
A
summary of stock option activity for the stock option plans for the years ended December 31, 2023 and 2022 are as follows:
Number of options
Weighted average exercise price
Outstanding December 31, 2020
5,875,750
$
0.39
Granted
2,675,000
0.60
Exercised
(
70,000
)
(
0.45
)
Expired
(
570,000
)
(
0.43
)
Cancelled
(
1,040,600
)
(
0.42
)
Outstanding December 31, 2021
6,870,150
$
0.48
Granted
2,550,000
0.37
Expired
(
506,150
)
(
0.40
)
Cancelled
(
285,600
)
(
0.48
)
Outstanding December 31, 2022
8,629,000
$
0.43
Granted
1,885,000
0.22
Expired
(
1,988,000
)
(
0.46
)
Cancelled
(
460,000
)
(
0.44
)
Outstanding December 31, 2023
8,066,000
$
0.39
The
aggregate intrinsic value for options as of December 31, 2023 was $
nil
(2022 - $
nil
).
The
following table summarizes information concerning outstanding and exercisable stock options at December 31, 2023:
Exercise
prices per share
Number outstanding
Number exercisable
Expiry date
CAD$
0.30
1,845,000
369,000
February 21, 2028
CAD$
0.45
1,930,400
1,292,696
June 30, 2025
CAD$
0.50
789,600
572,100
February 1, 2026
CAD$
0.50
2,295,000
1,009,800
February 1, 2027
CAD$
0.66
200,000
116,000
July 12, 2026
CAD$
1.02
1,006,000
646,000
April 6, 2026
8,066,000
4,005,596
The
Company recorded stock-based compensation of $
515,116
on the options granted and vested (2022 – $
696,248
; 2021 - $
660,266
) and
as per the Black-Scholes option-pricing model, with a weighted average fair value per option grant of $
0.29
(2022 - $
0.42
; 2021 - $
0.45
).
F-
25
Kidoz
Inc.
and subsidiaries
(Expressed
in United States Dollars)
Notes
to Consolidated Financial Statements
Years
ended December 31, 2023, 2022 and 2021
11.
Fair
value measurement
:
Except
for derivative liability – warrant that was measured at level 3 inputs in the three-tier fair value hierarchy, the Company does
not have any other financial instruments that are subsequently measured at fair value.
12.
Commitments
:
The
Company leases office facilities in Vancouver, British Columbia, Canada, British West Indies and Netanya, Israel. These office facilities
are leased under operating lease agreements.
During
the year ended December 31, 2020, the Company signed a five-year lease for a facility in Vancouver, Canada, commencing April 1, 2020
and ending March 2024. The Company accounts for the lease in accordance with ASU 2016-02 (Topic 842) and recognizes a right-of-use asset
and operating lease liability. Subsequent to the year ended December 31, 2023, the lease on the Vancouver office expired and was not
renewed. Our Canadian staff will continue to work on a virtual basis.
The
Netanya, Israel operating lease expired on July 14, 2017, but unless 3 months' notice is given it automatically renews for a future
12 months until notice is given. During the year ended December 31, 2023, the lease was extended for a further 12 months. The renewal
of this lease is uncertain, hence the Company has accounted for this lease as a short-term lease.
Minimum
lease payments under these leases are approximately as follows:
2024
$
60,460
The
Company paid rent expense totaling $
120,557
for the year ended December 31, 2023 (2022 - $
130,308
; 2021 - $
129,250
).
The
Company has the following management consulting agreements with related parties.
Company
Person
Role
Annual amount
T.M. Williams (ROW), Inc.
T. M. Williams
Chairman
$
160,000
Bromley Accounting
Services Ltd.
H. W. Bromley
CFO
CAD$
215,000
Farcast Operations Inc.
T. H. Williams
VP Product
CAD$
240,000
During
the year ended December 31, 2022, Mr. J. M. Williams, the Company's CEO, became an employee of Shoal Media (Canada) Inc.
As
at December 31, 2023, the Company had a number of renewable license commitments with large brands, including, Mr. Men and Little Miss
and Mr. Bean. These agreements have commitments to pay royalties on the revenue from the licenses subject to the minimum guarantee payments.
As at December 31, 2023, there were no further minimum guarantee payments commitments.
The
Company expensed the minimum guarantee payments over the life of the agreement and recognized license expense of $
19,868
(2022 - $
14,090
;
2021 - $
18,512
) for the year ended December 31, 2023.
F-
26
Kidoz
Inc.
and subsidiaries
(Expressed
in United States Dollars)
Notes
to Consolidated Financial Statements
Years
ended December 31, 2023, 2022 and 2021
13.
Income taxes
:
As
at December 31, 2022, Kidoz Inc. was domiciled in the tax-free jurisdiction of Anguilla, British West Indies. However certain of the
Company's subsidiaries incur income taxation. Effective January 1, 2023, the Company continued out of Anguilla and into Canada
and became a Canadian tax payer.
The
tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at
December 31, 2023 and 2022, are presented below:
2023
2022
2021
Expected tax (recovery) expense
$
(
550,269
)
$
(
314,497
)
$
5,535
Change in statutory, foreign tax, foreign exchange rates and other
183,916
(
161,505
)
231,545
Permanent differences
140,572
187,044
227
Adjustment to prior years provision versus statutory tax returns
(
26,902
)
(
5
)
17,161
Change in valuation allowance
226,705
138,474
(
37,791
)
Current income taxes (recovery) expense
$
(
25,978
)
$
60,010
$
6,178
Deferred income tax (recovery) expense
-
(
210,499
)
210,499
Total taxation (recovery) expense
$
(
25,978
)
$
(
150,489
)
$
216,677
The
tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at
December 31, 2023 and 2022 are presented below:
2023
2022
Deferred tax (liabilities) assets:
Non-capital loss carry forwards
$
362,074
$
208,480
Equipment
(
1,072
)
1,627
Intangible assets
(
72,206
)
(
263,915
)
Other
157,457
273,357
Valuation Allowance
(
446,253
)
(
219,549
)
Total deferred tax (liability) asset
$
-
$
-
As
at December 31, 2023, the Company's had $
1,490,165
(2022 - $
1,023,314
) of non-capital losses expiring through December 31, 2043.
In
assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all
of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of
future taxable income during the periods in which those differences become deductible.
Management
considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in assessing
the realizability of deferred tax assets.
The
Company recognized this tax credit as a recovery of income tax expense on the statement of operations and comprehensive (loss) income
upon receipt of funds.
F-
27
Kidoz
Inc.
and subsidiaries
(Expressed
in United States Dollars)
Notes
to Consolidated Financial Statements
Years
ended December 31, 2023, 2022 and 2021
14.
Right-of-use assets
:
Effective
April 1, 2019, we recognized lease assets and liabilities of $
125,474
, in relation to the Vancouver office. We estimated a discount rate
of
4.12
%.
We
elected the package of practical expedients permitted under the transition guidance within Topic 842, which allowed us to carry forward
prior conclusions about lease identification, classification and initial direct costs for leases entered into prior to adoption of Topic
842.
Additionally,
we elected to not separate lease and non-lease components for all of our leases. For leases with a term of 12 months or less, our current
offices, we elected the short-term lease exemption, which allowed us to not recognize right-of-use assets or lease liabilities for qualifying
leases existing at transition and new leases we may enter into in the future, as there is significant uncertainty on whether the leases
will be renewed.
The
right-of-use assets as at December 31, 2023, is summarized as follows:
2023
2022
2021
Opening balance for the year
$
36,529
$
65,464
$
106,315
Amortization and expiration of operating lease right-of use assets
(
29,748
)
(
28,935
)
(
40,851
)
Closing balance for the year
$
6,781
$
36,529
$
65,464
The
operating lease as at December 31, 2023, is summarized as follows:
As at December 31, 2023
Office lease
2024
7,658
Total lease payments
$
7,658
Less: Interest
(
53
)
Present value of lease liabilities
$
7,605
Amounts recognized on the balance sheet
Current lease liabilities
$
7,605
Long-term lease liabilities
-
Total lease payments
$
7,605
2023
2022
2021
Opening balance for the year
$
39,556
$
74,067
$
103,918
Payments on operating lease liabilities
(
31,951
)
(
34,511
)
(
29,851
)
Closing balance for the year
7,605
39,556
74,067
Less: current portion
(
7,605
)
(
32,116
)
(
32,068
)
Operating lease liabilities – non-current portion as at end of year
$
-
$
7,440
$
41,999
F-
28
Kidoz
Inc.
and subsidiaries
(Expressed
in United States Dollars)
Notes
to Consolidated Financial Statements
Years
ended December 31, 2023, 2022 and 2021
15.
Related
party transactions
:
As
at and for the year ended December 31, 2023, the Company has the following related party transactions:
2023
2022
2021
Directors fees
$
7,505
$
8,970
$
8,000
Salaries, wages, consultants and benefits
667,229
659,558
612,492
Selling and marketing
70,439
126,920
77,906
Stock-based compensation (Note 10)
188,961
276,207
237,348
Software technology development (Note 8)
248,780
246,016
214,843
Closing balance for the year
$
1,182,914
$
1,317,671
$
1,150,589
The
Company has liabilities of $
79,852
(2022 - $
80,874
) as at December 31, 2023, to current directors, officers and companies owned by the
current directors and officers of the Company for employment, director and consulting fees.
During
the year ended December 31, 2023, the Company granted
400,000
options with an exercise price of CAD$
0.30
($
0.22
) per share to current
directors and officers of the Company. Subsequent to the year ended December 31, 2023, the Company granted
1,056,250
options with an
exercise price of CAD$
0.20
($
0.14
) to current directors and officers of the Company.
During
the year ended December 31, 2022, the Company granted
900,000
options with an exercise price of CAD$
0.50
($
0.39
) per share to current
directors and officers of the Company.
During
the year ended December 31, 2021, the Company granted the following options to related parties:
a)
400,000
options with an exercise price of CAD$
0.50
($
0.39
) per share
b)
400,000
options with an exercise price of CAD$
1.02
($
0.80
) per share
The
related party transactions are in the normal course of operations and were measured at the exchange amount, which is the amount of consideration
established and agreed to by the related parties.
16.
Segmented information
:
The
Company operates in reportable business segments, the sale of Ad tech advertising, programmatic advertising, and content revenue, including
the sale of in-app purchases on Trophy Bingo and Garfield's Bingo; the premium purchase for Rooplay Originals and recurring subscription
revenues from Rooplay and Kidoz OS and the sale of licenses of Kidoz OS.
Operating
segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation
by the chief operating decision maker, or decision-making group, in making decisions on how to allocate resources and assess performance.
The Company's chief operating decision makers are the Chairman, Chief Executive Officer and President. The Company and the chief
decision makers view the Company's operations and manage its business as three operating segments, namely Ad tech advertising,
programmatic advertising, and content revenue.
F-
29
Kidoz
Inc.
and subsidiaries
(Expressed
in United States Dollars)
Notes
to Consolidated Financial Statements
Years
ended December 31, 2023, 2022 and 2021
16.
Segmented information: (Continued)
The
Company had the following revenue by geographical region.
2023
2022
2021
Ad tech advertising revenue
Western Europe
$
5,163,712
$
5,675,383
$
3,927,191
Central, Eastern and Southern Europe
488,973
297,862
193,085
North America
5,769,464
7,096,255
7,653,038
Other
457,276
1,356,418
421,204
Total ad tech advertising revenue
$
11,879,425
$
14,425,918
$
12,194,518
Programmatic advertising revenue
North America
$
1,223,392
$
361,394
$
58,507
Total Programmatic advertising revenue
$
1,223,392
$
361,394
$
58,507
Content revenue
Western Europe
$
73,085
$
76,572
$
84,884
Central, Eastern and Southern Europe
41
381
1,517
North America
8,651
37,766
47,390
Other
142,230
195,025
97,823
Total content revenue
$
224,007
$
309,744
$
231,614
Total revenue
Western Europe
$
5,236,797
$
5,751,955
$
4,012,075
Central, Eastern and Southern Europe
489,014
298,243
194,602
North America
7,001,507
7,495,415
7,758,935
Other
599,506
1,551,443
519,027
Total revenue
$
13,326,824
$
15,097,056
$
12,484,639
Equipment
The
Company's equipment is located as follows:
Net Book Value
2023
2022
Anguilla
$
-
$
60
Canada
18,730
20,143
Israel
7,439
9,279
United Kingdom
3,065
4,040
Total equipment
$
29,234
$
33,522
F-
30
Kidoz
Inc.
and subsidiaries
(Expressed
in United States Dollars)
Notes
to Consolidated Financial Statements
Years
ended December 31, 2023, 2022 and 2021
17.
General
and administrative
:
General
and administrative expenses were as follows:
2023
2022
2021
Computer expenses
$
103,531
$
67,704
$
43,361
Insurance
48,821
46,765
42,357
Professional fees
185,974
319,016
211,873
Rental (Note 12)
120,557
130,308
129,250
Other general and administrative expenses
214,771
197,143
178,041
Total general and administrative expenses
$
673,654
$
760,936
$
604,882
18.
Stock
awareness program
During
the year ended December 31, 2021, the Company commenced a corporate stock awareness program. The Company engaged Research Capital Corporation,
Agora Internet Relations Corp., Stockhouse Publishing Ltd., TSM Talk Shop Media and Proactive for financial and capital markets advisory
services and to assist with general market outreach to increase investor awareness as the Company continues to achieve important milestones
and grow its investor base. Stockhouse Publishing Ltd. campaign was discontinued in the year ended December 31, 2022 and TSM Talk Shop
Media was discontinued in the year ended December 31, 2023.
The
Company incurred stock awareness expenses of $
146,300
during the year ended December 31, 2023.
The
Company incurred stock awareness expenses of $
161,332
during the year ended December 31, 2022, of which $
26,334
was paid in shares to
Agora Internet Relations Corp.
The
Company incurred stock awareness expenses of $
402,845
during the year ended December 31, 2022, of which $
179,293
is from the issuance
of
230,000
common shares to RCC (Note 10) and a derivative liability of $
83,572
(Note 10) from the warrants granted.
19
Concentrations
:
Major
customers
During
the year ended December 31, 2023, and 2022, the Company sold Ad tech revenue; sold subscriptions on its site Rooplay; sold in-app purchases
on its social bingo sites, Trophy Bingo and Garfield's Bingo and premium purchases of Rooplay Originals. During the year ended
December 31, 2023, the Company had revenues of $
2,927,239
and $
1,716,205
, from two customers (December 31, 2022 - three customers for
$
3,528,530
, $
2,293,798
, and $
1,507,029
; December 31, 2021 - three customers for $
3,373,241
, $
2,522,559
and $
1,381,678
) which was more
than 10% of the total revenue. The Company is reliant on the Google App, iOS App and Amazon App Stores to provide a content platform
for Rooplay, Trophy Bingo and Garfield's Bingo to be played thereon and certain advertising agencies for the Ad tech revenue.
F-
31
Kidoz
Inc.
and subsidiaries
(Expressed
in United States Dollars)
Notes
to Consolidated Financial Statements
Years
ended December 31, 2023, 2022 and 2021
20.
Concentrations
of credit risk
:
Financial
instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and accounts receivable.
The Company places its cash and cash equivalents with high quality financial institutions and limits the amount of credit exposure with
any one institution.
The
Company currently maintains a substantial portion of its day-to-day operating cash and long-term cash equivalents balances at financial
institutions. At December 31, 2023, the Company had total cash of $
1,493,071
(2022 - $
2,385,840
) at financial institutions, where $
1,266,481
(2022 - $
2,150,761
) is in excess of federally insured limits.
The
Company has concentrations of credit risk with respect to accounts receivable, the majority of its accounts receivable are concentrated
geographically in the United States amongst a small number of customers.
As
of December 31, 2023, the Company had one customer, totaling $
1,016,280
, respectively who accounted for greater than 10% of the total
accounts receivable. As of December 31, 2022, the Company had three customers, totaling $
1,921,602
, $
1,061,177
, and $
920,736
who accounted
for greater than 10% of the total accounts receivable.
The
Company controls credit risk through monitoring procedures and receiving prepayments of cash for services rendered. The Company performs
credit evaluations of its customers but generally does not require collateral to secure accounts receivable.
F-
32