Annual reports filed by certain Canadian issuers pursuant to Section 15(d) and Rule 15d-4

LEASES (Tables)

v3.21.1
LEASES (Tables)
 12 Months Ended
Dec. 31, 2020
Presentation of leases for lessee [abstract]  
Summary of Right of Use Asset
Right of use assets
For the year ended December 31, 2020
  
Cost
    
Accumulated
amortization
    
Net Book
Value
  
Head Office
                  
Balance at December 31, 2019
  
$
34,172
    
$
(3,778
)
  
$
30,394
  
Amortization in the year
    
-
      
(22,670
)
    
(22,670
)
Chapel Hill
                        
Balance at December 31, 2019
  
$
-
    
$
-
    
$
-
  
Additions
    
941,268
      
-
      
941,268
  
Amortization in the year
    
-
      
(82,391
)
    
(82,391
)
Balance at December 31, 2020
  
$
975,440
    
$
(108,839
)
  
$
866,601
  
 
 
For the year ended December 31, 2019
  
Cost
    
Accumulated
amortization
    
Net Book
Value
  
Head Office
                  
                   
Balance at December 31, 2018
  
$
-
    
$
-
    
$
-
  
Additions
    
34,172
      
-
      
34,172
  
Amortization in the year
    
-
      
(3,778
)
    
(3,778
)
     
-
                  
Balance at December 31, 2019
  
$
34,172
    
$
(3,778
)
  
$
30,394
  
 
Summary of Maturity Analysis
Lease liabilities – maturity analysis
  
2020
    
2019
  
  Less than one year
  
$
165,768
    
$
21,071
  
  One to three years
    
646,481
      
8,001
  
  Four to five years
    
104,310
      
-
  
Total lease liabilities at December 31, 2020
  
$
916,559
    
$
29,072