| LEASE LIABILITIES |
9. 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, 2024 | |
$ | 428,021 | |
| Interest expense | |
| 36,711 | |
| Lease payments | |
| (190,857 | ) |
| Balance at December 31, 2025 | |
| 273,875 | |
| Interest expense | |
| 6,742 | |
| Lease payments | |
| (47,714 | ) |
| Balance at March 31, 2026 | |
$ | 232,903 | |
Which consists of:
| | |
| March 31, 2026 | | |
| December 31, 2025 | |
| Current lease liability | |
$ | 125,926 | | |
$ | 143,624 | |
| Non-current lease liability | |
| 106,977 | | |
| 130,251 | |
| Ending balance | |
$ | 232,903 | | |
$ | 273,875 | |
SCHEDULE OF OPERATING MATURITY ANALYSIS
| Maturity analysis | |
March 31, 2026 | | |
December 31, 2025 | |
| Less than one year | |
$ | 143,889 | | |
$ | 165,022 | |
| One to three years | |
| 114,991 | | |
| 141,519 | |
| Total undiscounted lease liabilities | |
$ | 258,880 | | |
$ | 306,541 | |
| Amount representing interest | |
| (25,977 | ) | |
| (32,666 | ) |
| Lease
liability | |
$ | 232,903 | | |
$ | 273,875 | |
Variable
lease payments of $47,337, (2025 – $28,807) have been recognized in profit and loss.
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