Annual report pursuant to Section 13 and 15(d)

Related Parties (Tables)

v3.21.1
Related Parties (Tables)
12 Months Ended
Dec. 31, 2020
Related Party Transactions [Abstract]  
Related Parties
   

December 31,

2020

 

December 31,

2019

Principal Outstanding                
Opening balance   $     $ 318,078  
Additions     300,000        
Repayment     (200,000 )        
Applied to warrant exercise     (100,000 )      
Settled by issuance of common shares           (318,078 )
             
Accrued Interest                
Opening balance           113,553  
Interest expense     22,521       25,830  
Repayment     (14,465 )        
Applied to warrant exercise     (8,056 )      
Conversion to equity           (139,383 )
             
Promissory Notes Payable – Related Party   $     $  
Deferred Purchase consideration, Related Party

Description  

December 31,

2020

 

December 31,

2019

Principal Outstanding                
Promissory notes due to related parties   $ 1,279,430     $ 1,830,541  
Additional earnout earned           224,540  
Settled by the issuance of common shares     (482,978 )     (410,925 )
Repayment in cash     (471,554 )     (328,734 )
Foreign exchange movements     57,230       (35,992 )
      382,128       1,279,430  
Present value discount on future payments                
Present value discount     (80,069 )     (161,393 )
Amortization     76,222       78,128  
Foreign exchange movements     (1,327 )     3,196  
      (5,174 )     (80,069 )
Deferred purchase consideration, net   $ 376,954     $ 1,199,361  

 

Related Party Receivables

   

December 31,

2020

 

December 31,

2019

Related Party payables                
Gold Street Capital Corp.   $     $ (2,551 )
Luca Pasquini     (565 )      
    $ (565 )   $ (2,551 )
Related Party Receivables                
Luca Pasquini   $ 1,519     $ 4,123