| LEASE LIABILITIES |
The
Company leases certain assets under lease agreements. The lease liabilities consist of leases of facilities and vehicles with terms ranging
from one to five years. The leases are calculated using incremental borrowing rates ranging from 11.7% to 13.3%.
SCHEDULE OF OPERATING LEASE LIABILITIES
| |
Total | |
| Balance at December 31, 2023 | |
$ | 790,023 | |
| Interest expense | |
| 65,378 | |
| Lease payments | |
| (423,157 | ) |
| Foreign
exchange translation | |
| (4,223 | ) |
| Balance at December 31, 2024 | |
| 428,021 | |
| Interest expense | |
| 10,590 | |
| Lease
payments | |
| (47,714 | ) |
| Balance at March 31,
2025 | |
$ | 390,897 | |
Which
consists of:
| | |
March
31, 2025 | | |
December
31, 2024 | |
| Current lease liability | |
$ | 157,994 | | |
$ | 154,147 | |
| Non-current lease liability | |
| 232,903 | | |
| 273,874 | |
| Ending balance | |
$ | 390,897 | | |
$ | 428,021 | |
SCHEDULE OF OPERATING MATURITY ANALYSIS
| Maturity
analysis | |
March
31, 2025 | | |
December
31, 2024 | |
| Less than one year | |
$ | 190,857 | | |
$ | 190,856 | |
| One to three years | |
| 230,092 | | |
| 282,419 | |
| Four to five years | |
| 28,734 | | |
| 71,836 | |
| Total undiscounted lease liabilities | |
| 449,683 | | |
| 545,111 | |
| Amount representing
interest | |
| (58,786 | ) | |
| (117,090 | ) |
| Lease
liability | |
$ | 390,897 | | |
$ | 428,021 | |
Variable
lease payments of $28,807,
(2024 – $20,614)
have been recognized in profit and loss.
|