v3.26.1
Right-of-use asset and lease liability
 12 Months Ended
Dec. 31, 2025
Right-of-Use Asset and Lease Liability [Abstract]  
Right-of-use asset and lease liability
15.Right-of-use asset and lease liability

 

In August 2025, the Company entered into a lease agreement for an office in Switzerland. The monthly rent payable under the terms of the lease was $66,258 (CHF53,280). The lease is for fixed term of five years commencing September 2025. The Company used a discount rate of 9% in determining the present value of the lease payments. The Company has recorded a right-of-use asset and a lease liability on the statement of financial position in association with this office lease.

 

Right-of-use asset

 

   Right-of-use
asset		 
Cost:     
Balance, December 31, 2024  $
-
 
Additions   3,208,882 
Foreign exchange   (2,301)
Balance, December 31, 2025  $3,206,581 
      
Depreciation:     
Balance, December 31, 2024  $
-
 
Depreciation charge for the year   207,328 
Balance, December 31, 2025  $207,328 
      
Net book value:     
As at December 31, 2025  $2,999,253 

 

Lease liability 

 

Lease liability as at December 31, 2024  $
-
 
Additions   3,208,882 
Interest expense   92,080 
Lease payments   (198,774)
Lease liability as at December 31, 2025  $3,102,188 

 

   December 31,
2025		   December 31,
2024		 
Current lease liability  $553,973   $
      -
 
Non-current lease liability   2,548,215    
-
 
   $3,102,188   $
-
 

 

Future undiscounted minimum lease payments for the lease agreements are as follows:

 

   December 31,
2025		   December 31,
2024		 
Within one year  $800,652   $
      -
 
After one year but not more than five years   2,984,620    
-
 
More than five years   
-
    
-
 
   $3,785,272   $
-