Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Significant accounting policies and basis of preparation (Tables)

v3.20.1
Significant accounting policies and basis of preparation (Tables)
12 Months Ended
Dec. 31, 2019
Significant accounting policies and basis of preparation  
Schedule of classification of the company financial assets and liabilities

 

 

 

Financial assets/liabilities

    

 

Cash and cash equivalents

 

Amortized cost

Receivables

 

Amortized cost

Trade payables and accrued liabilities

 

Amortized cost

Shareholder loan

 

Amortized cost

Derivative liability

 

FVTPL

 

Schedule of property, plant and equipment

 

 

 

Class of plant and equipment

 

Amortization rate

Furniture and equipment

 

20%

Computer hardware

 

33%

Computer software

 

50%

Vehicles

 

33%

Leasehold improvements

 

over term of lease

Right of use assets

 

over term of lease

Production tooling and molds

 

per unit produced

 

Schedule of operating lease commitment to lease liabilities

 

 

 

 

Operating lease commitment at December 31, 2018 as disclosed in the Company’s financial statement

    

$

2,148,834

Discounting effect using the incremental borrowing rate at January 1, 2019

 

 

379,371

 

 

 

1,769,463

Extension options reasonably certain to be exercised

 

 

349,078

Lease liabilities recognized at January 1, 2019

 

$

2,118,541