Obligations under Capital Lease

12 Months Ended

Dec. 31, 2021

Obligations Under Capital Lease [Abstract]

Obligations under Capital Lease [Text Block]

13. Obligations under Capital Lease

										2021			2020
		(a)		(b)			(c)			Total			Total
Obligations under Capital Lease	$	-	$	27,184		$	193,949		$	221,133		$	375,140
Less: current portion		-		(27,184	)		(63,863	)		(91,047	)		(375,140	)
Long-term portion	$	-	$	-		$	130,086		$	130,086		$	-

Refer also to going concern, note 2.

(a)	The lease agreement for certain equipment for the Company's organic waste processing and composting facility at a cost of $226,110 (C$286,650), was payable in monthly blended installments of principal and interest of $4,607 (C$5,840), plus applicable harmonized sales taxes and an option to purchase the equipment for a final payment of $22,448 (C$28,600), plus applicable harmonized sales taxes on October 31, 2021. The lease agreement bears interest at the rate of 5.982% annually, compounded monthly, due September 30, 2021. On November 3, 2021, the Company paid the final payment of $22,448 (C$28,600), plus applicable harmonized sales taxes.
(b)	The lease agreement for certain equipment for the Company's organic composting facility at a cost of $195,189 (C$247,450 ), is payable in monthly blended installments of principal and interest of $4,037 (C$5,118), plus applicable harmonized sales taxes for a period of forty-six months plus the first two monthly blended installments of $7,888 (C$10,000) plus applicable harmonized sales taxes and an option to purchase the equipment for a final payment of $19,468 (C$24,680) plus applicable harmonized sales taxes on February 27, 2022. The leasing agreement bears interest at the rate of 6.15% annually, compounded monthly, due January 27, 2022.
(c)	The lease agreement for certain equipment for the Company's organic waste processing and composting facility at a cost of $307,356 (C$389,650), is payable in monthly blended installments of principal and interest of $5,405 (C$6,852), plus applicable harmonized sales taxes for a period of fifty-nine months plus an initial deposit of $15,342 (C$19,450) plus applicable harmonized sales taxes and an option to purchase the equipment for a final payment of a nominal amount of $79 (C$100) plus applicable harmonized sales taxes on February 27, 2025. The leasing agreement bears interest at the rate of 3.59% annually, compounded monthly, due February 27, 2025.

The lease liabilities are secured by the equipment under capital lease as described in note 8.

Minimum lease payments as per the original terms of the obligations under capital lease are as follows:

In the year ending December 31, 2022	$	97,451
In the year ending December 31, 2023		64,862
In the year ending December 31, 2024		64,862
In the year ending December 31, 2025		5,484
		232,659
Less: imputed interest		(11,526	)
Total	$	221,133

For the year ended December 31, 2021, $13,426 (C$16,825) (2020-$18,090; C$24,246) in interest was incurred.