v3.26.3
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES
 12 Months Ended
Dec. 31, 2025
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES  
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

NOTE 10 – ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

 

Accounts payable and accrued liabilities as of December 31, 2025 and 2024 consisted of the following:

 

(In Thousands of US Dollars)

Description

 

2025

 

 

2024

 

Accounts payable

 

$4,027

 

 

$3,869

 

Accrued liabilities:

 

 

 

 

 

 

 

 

Payroll related liabilities

 

 

22

 

 

 

23

 

Other accrued liabilities

 

 

5

 

 

 

5

 

Accounts payable and accrued liabilities

 

$4,054

 

 

$3,897

 

Accounts payable to related parties (Note 22)

 

 

55

 

 

 

27

 

Accrued interest payable to related party (Note 9)

 

 

659

 

 

 

219

 

Total

 

$4,768

 

 

$4,143

 

 

Accounts payable to related parties of $54,743 (2024: $27,368) comprise amounts owed to Dr. Paul Averback of $8,368 (2024: $8,368), Mr. Patrick Doody of $36,375 (2024: $9,000) and Dr. David Morse of $10,000 (2024: $10,000) for expense reimbursements and fees, and are described further in Note 22. Accrued interest payable to a related party of $659,249 (2024: $218,775) is interest accrued on the convertible loan from Mr. James G. Robinson described in Note 9. Both are presented as separate lines on the consolidated statements of financial position.