COMMITMENTS AND CONTINGENCIES

9 Months Ended

Sep. 30, 2022

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

11. COMMITMENTS AND CONTINGENCIES

Lease commitment

The Company entered an operating lease for office space. The minimum future payments under the lease for our continuing operations in each of the years ending December 31 is as follows:

Remaining 2022	$	66,677
2023		267,886
2024		277,074
2025		292,826
2026		292,826
Subsequent years		805,272
Total minimum lease payments		2,002,561
Less: imputed interest		(481,693	)
Total lease liability		1,520,868
Current portion of lease liability		(244,358	)
Non-current portion of lease liability	$	1,276,510

Debenture principal repayments

The following table summarizes the future principal payments related to our outstanding debt as of September 30, 2022:

2022	$	1,683,000
2023		6,732,000
2024		4,338,000
	$	12,753,000

Contingencies

Litigation

As at September 30, 2022, the Company had no contingencies to disclose.