17. LEASE LIABILITIES |
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17. LEASE LIABILITIES |
17.LEASE LIABILITIES The Company's leases are comprised of leases premises and offices. The Company's liabilities as of December 31, 2020 were as follows:
The Company has a lease for manufacturing and distribution facility in San Diego, which expires on October 15, 2022. The lease was accounted for under IFRS 16, using an incremental borrowing rate of 6.00%. The Company recognized a right-of-use asset of $392,188 and a corresponding lease liability of $392,469. Total lease payments are as follows:
The Company has a lease for office space in Concord, which expires on October 1, 2022. The Company's future monthly rental payments for this office space are approximately $72,450. |
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- Definition The entire disclosure for leases. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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