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

DEBTS PAYABLE & SENIOR SECURED NOTES (Tables)

v3.22.1
DEBTS PAYABLE & SENIOR SECURED NOTES (Tables)
12 Months Ended
Dec. 31, 2021
December 2020 Senior secured notes  
Disclosure of detailed information about borrowings [line items]  
Schedule of debt

Senior secured notes

As of January 1, 2020

$

Debt issued

110,000,000

Debt issuance costs

(6,437,895)

Debt issuance costs amortized

90,858

As of December 31, 2020

103,652,963

Debt issuance costs

(2,142,242)

Debt issuance costs amortized

1,744,520

Senior Secured Notes issued

133,250,000

Senior Secured Notes premium

9,304,957

Senior Secured Notes premium amortized

(402,376)

Total senior secured notes payable as of December 31, 2021

$

245,407,822

Total accrued interest payable related to senior secured notes as of December 31, 2021

$

6,092,080

Debt payable  
Disclosure of detailed information about borrowings [line items]  
Schedule of debt

    

Debts Payable

As of January 1, 2020

$

43,995,661

Acquired through combinations and acquisitions

25,131,964

Less: repayment

(5,615,225)

Less: discounted to fair value

(1,279,819)

As of December 31, 2020

62,232,581

Discounted as of December 31, 2020

 

1,279,819

Acquired through combinations and acquisitions

 

87,474,904

Converted to equity

 

(7,429,389)

Less: repayment

 

(8,749,327)

Total debts payable, undiscounted as of December 31, 2021

 

134,808,588

Less: discounted to fair value

(950,977)

Total debts payable as of December 31, 2021

$

133,857,611

Total accrued interest payable related to debts payable as of December 31, 2021

$

4,900,570

The details of debts payable were as follows:

December 31, 2021

    

Related party debt

    

Non-related party debt

    

Total debt

Principal payments

    

$

26,869,512

    

$

107,939,076

    

$

134,808,588

Less: current portion

2,847,566

 

5,264,157

 

8,111,723

Total non-current debt, undiscounted

$

24,021,946

$

102,674,919

$

126,696,865

Less: discount to fair value

 

 

(950,977)

 

(950,977)

Total non-current debt

$

24,021,946

$

101,723,942

$

125,745,888

Schedule of the future debt obligation

Future debt obligations (per year)

    

  

2022

$

8,111,723

2023

 

16,446,496

2024

 

87,745,485

2025

 

22,504,884

Total debt obligations

$

134,808,588