12. Loans Payable

On March 31, 2021, as part of the sale of the net assets in Boden Technologies AB, the Company incurred a loan payable. The facility bears interest at the Swedish government borrowing rate plus 1% per annum and has a maturity date of December 31, 2035. Principal payment plus interest is payable annually. The loan payable is contingently forgiven based on a favourable ruling from the Swedish Tax Authority on the ongoing value added tax assessment.

A continuity of the loan balances are as follows:

		Boden
Balance, March 31, 2023	$	13,078
Interest		397
Foreign exchange movement		(287	)
Balance, March 31, 2024		13,188
Interest		223
Repayment		(1,420	)
Foreign exchange movement		686
Balance, September 30, 2024		12,677
Less: Current portion		(1,492	)
Non-current portion	$	11,185