Capital and Risk Management (Tables)

12 Months Ended

Dec. 31, 2021

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Summary of Carrying Values of Financial Liabilities and Contractual Undiscounted Cash Flows

The Company’s carrying values of financial liabilities and the contractual undiscounted cash flows associated with these liabilities broken into relevant maturity grouping based on their contractual maturities are as follows:

At December 31, 2021			Undiscounted Contractual Cash Flows
	Carrying Amount		< 1 year		1 – 2 years		> 2 years		Total
Bank indebtedness 1	$	3,460,109	$	3,460,109	$	–	$	–	$	3,460,109
Trade payables and accrued liabilities		12,421,309		12,421,309		–		–		12,421,309
Loans and borrowings 2		13,215,601		11,763,697		786,123		–		12,549,820
Lease liabilities 3		1,045,472		521,506		534,241		179,281		1,235,028
2019 Debentures		22,185,170		24,630,375		–		–		24,630,375
2021 Debentures		110,540		7,635		103,073		–		110,708
Warrant liabilities 4		8,880,038		709,835		–		–		709,835
Business acquisition payable		1,398,972		1,398,972		–		–		1,398,972
	$	62,717,211	$	54,913,438	$	1,423,437	$	179,281	$	56,516,156

1  No contractual maturity. Excludes interest charged on facility as detailed in Note 13.

2  Includes term loan with a carrying value of $9,275,683 classified as current due to covenant breach. Assuming term loan is repaid in accordance with agreement to maturity, the undiscounted contractual cash flows for loans and borrowings would be $2,933,739, $5,472,193, and $4,143,888 , respectively for the periods presented above.

3  Variable costs due under leases not included in this amount. Minimum payment related to leases which have not yet commenced are not included in this amount. See Note 29.

4  Majority of liability will be settled by issuing common shares of the Company when warrants are exercised during the year. The remaining amount may be settled in cash or common shares of Agnity (Note 15).

As at December 31, 2020			Undiscounted Contractual Cash Flows
	Carrying Amount		< 1 year		1 – 2 years		> 2 years		Total
Bank indebtedness	$	976,779	$	976,779	$	–	$	–	$	976,779
Trade payables and accrued liabilities		12,924,256		12,924,256		–		–		12,924,256
Loans and borrowings		13,152,300		4,248,351		2,617,443		8,796,757		15,662,551
Lease liabilities		3,945,076		1,131,528		939,108		2,815,695		4,886,331
2019 Debentures		19,534,988		2,350,750		24,629,655		–		26,980,405
Warrant liabilities		710,924		710,924		–		–		710,924
Business acquisition payable		2,439,529		1,594,297		845,232		–		2,439,529
Other liabilities		6,236,415		6,003,838		232,577		–		6,236,415
	$	59,920,267	$	29,940,723	$	29,264,015	$	11,612,452	$	70,817,190

Summary of Information about Allowance Account for Credit Losses of Trade Receivables and Long Term Receivables Explanatory

The movement in the ECL allowance related to trade receivables and long-term receivables was as follows (Note 6):

	December 31, 2021			December 31, 2020
Beginning balance	$	606,030		$	382,901
Increase in loss allowance		1,162,537			443,961
Amounts written off during the year as uncollectible		(65,930	)		(220,832	)
Effects of movement in exchange rates		4,581			–
Total	$	1,707,218		$	606,030