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RISK MANAGEMENT (Tables)
 3 Months Ended
Mar. 31, 2023
Risk Management  
SCHEDULE OF FOREIGN CURRENCY FINANCIAL ASSETS AND LIABILITIES

Foreign currency denominated financial assets and liabilities which expose the Company to currency risk are disclosed below. The amount shown are those reported and translated into CAD at the closing rate.

  

  

Short -term exposure

   Long-term exposure 
   USD   BWP   BWP 
             
March 31, 2023               
Financial assets   3,154,245    1,031,792    34,040,669 
Financial liabilities   (694,403)   (2,413,132)   (1,750,360)
Total exposure   2,459,842    (1,381,340)   32,290,309 

 

 

 

Notes to the Unaudited Condensed Interim Consolidated Financial Statements

For the three months ended March 31, 2023

(Expressed in Canadian dollars)

 

  

Short -term exposure

   Long-term exposure 
   USD   BWP   BWP 
             
December 31, 2022               
Financial assets   2,834,303    473,980    32,058,793 
Financial liabilities   (1,246,825)   (2,176,110)   (1,530,341)
Total exposure   1,587,478    (1,702,130)   30,528,452 
SCHEDULE OF CHANGES IN EXCHANGE RATES

If the CAD strengthened against the USD and BWP by 5%, respectively (December 31, 2022 – 5 %), it would have had the following impact:

 

  

Profit for the year

      

Long-term exposure profit for the year

 
   USD   BWP   Total   BWP 
March 31, 2023   122,992    (69,067)   53,925    1,614,515 
December 31, 2022   79,374    (85,106)   (5,732)   1,526,423 

 

If the CAD weakened against the USD and BWP by 5%, respectively (December 31, 2022 – 5 %), it would have had the following impact:

 

  

Profit for the year

       Long-term exposure profit for the year 
   USD   BWP   Total   BWP 
March 31, 2023   (122,992)   69,067    (53,925)   (1,614,515)
December 31, 2022   (79,374)   85,106    5,732    (1,526,423)
SCHEDULE OF CONTRACTUAL OBLIGATIONS

The following table shows the Company’s contractual obligations as at March 31, 2023:

 

  

Less than

1 year

   1 - 2 years   2 - 5 years  

Total

 
Trade payables and accrued liabilities   4,299,671    -    -    4,299,671 
Vehicle financing   37,718    50,291    63,591    151,600 
Lease liability   1,334,323    1,334,323    -    2,668,646 
Total   5,671,712    1,384,614    63,591    7,119,917 
SCHEDULE OF COMPONENTS OF EQUITY DEFICIENCY, LOANS AND BORROWING, OTHER CURRENT LIABILITIES, NET OF CASH

In the management of capital, the Company includes the components of equity, loans and borrowings, and other current liabilities, net of cash.

 

   March 31, 2023   December 31, 2022 
Shareholder’s equity   31,326,582    27,188,344 
Current liabilities   12,574,288    12,462,372 
Total liabilities and equity   43,900,870    39,650,716 
Cash   (5,314,247)   (5,162,991)
Total   38,586,623    34,487,725