Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.19.3.a.u2
Leases (Tables)
9 Months Ended
Dec. 31, 2019
Leases [Abstract]  
Shedule of lease assets are categorized as right of use assets
Long-term premises lease   Lease
commencement
  Lease
expiry
  Term
(years)
    Discount
rate*
 
                     
London, United Kingdom   April 1, 2019   December 25, 2023     4.75       4.50 %
Lysaker, Norway   October 1, 2019   September 30, 2024     5.00       4.50 %
North Vancouver, Canada   December 1, 2019   August 31, 2022     2.75       4.50 %

 

* The Company determined the discount rate with reference to mortgages of similar tenure and terms.
Schedule of operating lease expense is recognized on a straight-line basis over the lease term
Lease cost – for the nine months ended December 31, 2019:        
Operating lease expense *   $ 302,131  

 

* Including right of use amortization and imputed interest
Schedule of minimum annual lease payments
Fiscal Year   $  
       
2020 (remainder of year)     132,204  
2021     528,814  
2022     528,814  
2023     505,581  
2024     278,755  
2025     34,262  
Total future minimum lease payments     2,008,430  
Imputed interest     (172,164 )
         
Operating lease obligations     1,836,266