Current report of foreign issuer pursuant to Rules 13a-16 and 15d-16 Amendments

Lease Obligations and Commitments

v3.22.2.2
Lease Obligations and Commitments
 9 Months Ended
Sep. 30, 2022
Lease Obligations and Commitments [Abstract]  
LEASE OBLIGATIONS AND COMMITMENTS
19. LEASE OBLIGATIONS AND COMMITMENTS

 

Lease Liabilities

 

    $  
Lease liabilities recognized as of January 1, 2021     641,251  
Lease payments made     (251,383 )
Interest expense on lease liabilities     39,836  
Foreign exchange adjustment     (61,821 )
Lease liabilities recognized as of January 1, 2022     367,883  
Lease payments made     (194,396 )
Interest expense on lease liabilities     17,456  
      190,943  
Less: current portion     (190,943 )
At September 30, 2022 – non-current portion     0  

 

On August 1, 2015, the Company entered into a cost sharing arrangement agreement for the provision of office space and various administrative services. In May of 2018, the Company extended the cost sharing arrangement to July of 2022 at a monthly fee of CAD $7,000 plus GST per month.

 

On September 6, 2017, the Company entered into a rental agreement for office space in Los Angeles, California. Under the terms of the agreement the Company will pay $17,324 per month commencing on October 1, 2017 until June 30, 2023.

 

Year   Amount  
    ($)  
2022 (remaining)     65,788  
2023     131,576