Other long-term liabilities

12 Months Ended

Dec. 31, 2021

Other long-term liabilities [Abstract]

Other long-term liabilities

15. Other long-term liabilities

As of December 31, 2021, and 2020, other-long term liabilities consist of the following:

	December 31, 2021		December 31, 2020
Accrued provision for warranties (1)		840,024		-
Greek state loan (2)		137,805		42,793
Jubilee provision		17,805		-
	$	995,634	$	42,793

(1) As of December 31, 2021, the amount of $840,024 relates to the non-current portion of a total accrued warranty reserve of $1,048,281, recognized on fuel cells sold, as discussed in Note 2. For the year ended December 31, 2021, accrued warranty activity consisted of the following:

	Year Ended December 31, 2021
Balance at beginning of year	$	-
Assumed at business combination		1,081,360
Accruals for warranties issued during the fiscal year		42,060
Settlements made during the fiscal year		(28,439	)
Exchange differences		(46,700	)
Balance at end of year	$	1,048,281
Of which:
Current portion (Note 12)	$	208,257
Non-current portion		840,024
Total accrued warranty reserve	$	1,048,281

(2) Under a decision published by the Greek government a state aid was provided to various entities affected by COVID-19. In this context, the Company applied for and received an aggregate amount of $152,757 during 2021 and 2020, which is repayable from June 2022 through September 2025 and bears an interest rate ranging from 0.74% to 0.94%. As of December 31, 2021, the current portion of this loan amounts to $14,952 and is included in other short- term payables (Note 12) within “Other current liabilities” on the consolidated balance sheets.