XML 55 R18.htm IDEA: XBRL DOCUMENT
v3.21.2

Note 12 - Lease Liabilities | 12 Months Ended
--- | ---
Jul. 31, 2021
Notes to Financial Statements |
Lessee, Operating Leases [Text Block] | NOTE 12: LEASE LIABILITIES The Company primarily has operating leases for corporate offices and a processing facility with a remaining term of 0.7 to 17.8 years as at July 31, 2021. The lease for the processing facility has an evergreen option that can continue for so long as it is in operation. Short-term leases, which have an initial term of 12 months or less, are not recorded on our Consolidated Balance Sheets. During Fiscal 2021 and Fiscal 2020, total lease expenses include the following components:
|  | Year Ended July 31, |
|  | 2021 |  |  | 2020 |
Operating Leases |  | $ | 219,794 |  |  | $ | 229,706 |
Short-term Leases |  |  | 606,859 |  |  |  | 445,287 |
Total Lease Expenses |  | $ | 826,653 |  |  | $ | 674,993 |
As at July 31, 2021 and 2020, the weighted average remaining lease term was 17.0 and 15.4 years, and the weighted average discount rate was 4.74% and 4.70%, respectively. During Fiscal 2021 and Fiscal 2020, cash paid for amounts included in the measurement of operating lease liabilities totaled $252,237 and $176,425, respectively. Minimum future lease payments under operating leases with terms longer than one year are as follows:
Fiscal 2022 |  | $ | 249,405 |
Fiscal 2023 |  |  | 20,000 |
Fiscal 2024 |  |  | 20,000 |
Fiscal 2025 |  |  | 20,000 |
Fiscal 2026 |  |  | 20,000 |
Thereafter |  |  | 280,000 |
Total lease payments |  |  | 609,405 |
Less: imputed interest |  |  | (140,884 | )
Present value of lease liabilities |  | $ | 468,521 |
Current portion of lease liabilities |  | $ | 229,618 |
Non-current portion of lease liabilities |  | $ | 238,903 |
Current lease liabilities are included in Other Current Liabilities, and non-current liabilities are included in Other Non-Current Liabilities in our Consolidated Balance Sheets.

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration