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Intellectual property (Tables)
12 Months Ended
Dec. 31, 2021
Intellectual property  
Acquisition Of Sfd? Geothermal Right

 

1.

US$40,000 (CAD$50,310) signature payment, which became due immediately and was paid on April 22, 2021;

 

 

 

 

2.

300,000 common shares, which were issued in December 2021;

 

 

 

 

3.

CAD$15,000 signature milestone payment paid in August 2021;

 

 

 

 

4.

US$200,000 milestone payment which will become due in the event that the Company’s cash balance exceeds CAD$5,000,000 due to receipt of specifically defined funds from operations; and

 

 

 

 

5.

US$250,000 milestone payment which will become due in the event that the Company executes and completes and receives full payment for an SFD® contract valued at US$10,000,000 or greater, provided such contract is entered into and completed and payment of at least US$5,000,000 is received by April 18, 2023.

Intellectual Property

 

 

December 31, 2021

 

 

 

Cost

 

 

Accumulated

 

 

Net book

 

 

 

Base

 

 

amortization

 

 

Value

 

SFD® Hydrocarbon Right acquired

 

$25,271,000

 

 

$10,670,400

 

 

$14,600,600

 

SFD® Geothermal Right acquired

 

 

275,610

 

 

 

9,187

 

 

 

266,423

 

 

 

 

25,546,610

 

 

 

10,679,587

 

 

 

14,867,023

 

 

 

 

December 31, 2020

 

 

 

Cost

 

 

Accumulated

 

 

Net book

 

 

 

Base

 

 

amortization

 

 

Value

 

SFD® Hydrocarbon Right acquired

 

$25,271,000

 

 

$8,985,667

 

 

$16,285,333

 

 

 

 

25,271,000

 

 

 

8,985,667

 

 

 

16,285,333