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Revenue (Tables)
 12 Months Ended
Dec. 31, 2021
Text Block [Abstract]  
Summary of Revenue Disaggregated By Major Service Line and Timing of Revenue Recognition
The Company’s operations and main revenue streams are those described in Note 32(C). All of the Company’s revenue is derived from contracts with customers.
In the following tables, revenue is disaggregated by major service line and timing of revenue recognition.
 
   
Year ended December 31,
  
       
    
2021 
    
2020 
    
2019 
  
       
AssetCare Initialization
1
   $ 1,250,181      $ 7,689,232      $ 5,964,663   
       
AssetCare Solutions
2
     23,461,748        12,809,054        2,939,582   
       
Engineering Services
3
     885,043        6,430,153        9,436,004   
       
   
$
                25,596,972 
 
  
$
                26,928,439 
 
  
$
                18,340,249 
 
1
 
Revenues from initial implementation and activation of AssetCare projects, including the sale of hardware.
2
 
Revenues include sales of subscriptions to AssetCare, other subscriptions, post contract support and maintenance, perpetual software licenses, and installation and engineering services.
3
 
Revenues includes consulting, implementation and integration services entered into on a time and materials basis or fixed fee basis without the use of AssetCare.
 
 
 
Year ended December 31,
 
Timing of revenue recognition
 
2021 
 
 
2020 
 
 
2019 
 
       
Over time
   $ 24,422,749      $ 18,551,736      $ 12,375,586   
       
At a point in time upon completion
     1,174,223        8,376,703        5,964,663   
       
   
$
                25,596,972 
 
  
$
                26,928,439 
 
  
$
                18,340,249 
 
Summary of Significant Changes in Unbilled Revenue and Deferred Revenue Balances
Significant changes in unbilled revenue and deferred revenue balances are as follows:
  
 
Unbilled revenue
 
 
  
 
Deferred revenue
 
       
Balance at January 1, 2019
 
$
—
 
 
  
 
$
133,678
 
       
Acquired in business combination (Note 17(c))
 
 
2,347,207
 
 
  
 
 
133,556
 
       
Acquired in business combination (Note 17(b))
 
 
—
 
 
  
 
 
457,259
 
       
Additions
 
 
9,595,535
 
 
  
 
 
5,309,436
 
       
Less: transferred to trade and other receivables
 
 
(11,278,312
) 
 
  
 
 
—
 
       
Less: recognized in revenue
 
 
—
 
 
  
 
 
(4,878,419
) 
       
Less: Loss allowance
 
 
(5,499
) 
 
  
 
 
—
 
       
Effect of movement in exchange rates
 
 
—
 
 
  
 
 
(17,229
) 
       
Balance at December 31, 2019
   $ 658,931         $ 1,138,281  
       
Acquired in business combination
     117,686           –  
       
Additions
     11,478,436           6,316,586  
       
Less: transferred to trade and other receivables
                     (11,557,665 )          –  
       
Less: write-offs
     (146,489 )          –  
       
Less: recognized in revenue
     –           (5,612,896 ) 
       
Less: applied to outstanding trade receivables
     –           (30,586 ) 
       
Effect of movement in exchange rates
     3,841    
 
     (40,265 ) 
       
Balance at December 31, 2020
  
$
554,740
 
      
$
1,771,120
 
       
Additions
     7,470,881                           10,616,893  
       
Less: transferred to trade and other receivables
     (7,269,579 )          –  
       
Less: recognized in revenue
     –           (9,585,211 ) 
       
Effect of movement in exchange rates
     –    
 
     8,606  
       
Balance at December 31, 2021
1
  
$
756,042
 
  
 
  
$
2,811,408