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LEASES
 12 Months Ended
Mar. 31, 2022
Disclosure of leases [text block] [Abstract]  
LEASES

10. LEASES

 

The following table summarizes changes in the Company’s lease receivable and lease obligation related to the Company’s office lease and sublease.

 

   Lease Receivable   Lease Obligation 
Balance, April 1, 2020  $534   $2,069 
Interest accrual   24    95 
Interest received or paid   (24)   (95)
Principal repayment   (196)   (563)
Foreign exchange impact   58    235 
Balance, March 31, 2021  $396   $1,741 
Addition   
-
    149 
Interest accrual   15    72 
Interest received or paid   (15)   (72)
Principal repayment   (217)   (637)
Foreign exchange impact   3    10 
Balance, March 31, 2022  $182   $1,263 
Less: current portion   (182)   (649)
Non-current portion  $
-
   $614 

 

The following table presents a reconciliation of the Company’s undiscounted cash flows to their present value for its lease receivable and lease obligation as at March 31, 2022:

 

   Lease Receivable   Lease Obligation 
Within 1 year  $186   $677 
Between 2 to 5 years   
-
    666 
Total undiscounted amount   186    1,343 
Less future interest   (4)   (80)
Total discounted amount  $182   $1,263 
Less: current portion   (182)   (649)
Non-current portion  $
-
   $614 

 

The lease receivable and lease obligation were discounted using an estimated incremental borrowing rate of 5%.