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Lease obligation (Tables)
12 Months Ended
Dec. 31, 2021
Lease obligation  
Lease Obligations

 

 

December 31,

 

 

December 31,

 

 

 

2021

 

 

2020

 

 

 

 

 

(Adjusted – Note 2)

 

Aircraft

 

$712,762

 

 

$640,550

 

Office Building

 

 

1,185,356

 

 

 

1,440,056

 

Printer

 

 

4,486

 

 

 

9,232

 

 

 

 

1,902,604

 

 

 

2,089,838

 

Current portion of lease obligations

 

 

532,936

 

 

 

687,991

 

Long-term lease obligations

 

 

1,369,668

 

 

 

1,401,847

 

 

 

Lease Term

 

Option to Extend

 

Incremental

Borrowing Rate

Aircraft

 

April 2024

 

Executed

 

 

11.2%

Office Building

 

September 2025

 

 No

 

 

8.2%

Printer

 

November 2022

 

 No

 

 

8.9%
Maturity Of Lease Liabilities

Maturity of lease liabilities:

 

 

 

 

Weighted Average

 Remaining Lease Term

 

2022

 

$702,215

 

 

3.4 years

 

2023

 

 

711,284

 

 

2.3 years

 

2024

 

 

481,885

 

 

1.5 years

 

2025

 

 

275,389

 

 

0.8 years

 

Total lease payments

 

 

2,170,773

 

 

 

 

Less imputed interest

 

 

(268,169)

 

 

 

Total discounted lease payments

 

 

1,902,604

 

 

 

 

 

Current portion of lease obligations

 

 

532,936

 

 

 

 

 

Non-current portion of lease obligations

 

 

1,369,668