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Subsequent Events
 9 Months Ended
Sep. 30, 2023
Subsequent Events [Abstract]  
Subsequent Events
20.Subsequent Events

 

On October 3, 2023, the Company acquired 100% of the equity of North River Project Inc. (“North River”), an entity that holds intellectual property in exchange for a cash payment of C$10,000,000 Canadian Dollars upon closing and future contingent cash payments up to an amount of C$10,000,000 Canadian Dollars. On the date of acquisition, C$10,000,000 Canadian Dollars was equivalent to approximately $7,293,000 United States Dollars based on the exchange rate of such date of C$1.3711: U.S.$1.00. The amount of the Company’s contingent payment obligation may change over time when expressed in United States Dollars due to fluctuations in the Canadian Dollar-United States Dollar exchange rate.

 

The Company’s management reviewed all material events through November 13, 2023, and there were no material subsequent events other than those disclosed above.