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RELATED PARTY TRANSACTIONS | 12 Months Ended
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Dec. 31, 2023
RELATED PARTY TRANSACTIONS |
RELATED PARTY TRANSACTIONS |
20 | RELATED PARTY TRANSACTIONS
The Company’s policy is to conduct all transactions and settle all balances with related parties on market terms and conditions for those in the normal course of business. Transactions between the Company and its consolidated entities have been eliminated on consolidation and are not disclosed in this note. Key Management Personnel The Company’s key management personnel are comprised of members of the Board and the executive team which consists of the Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, Chief Strategy Officer and Chief Technology Officer. Two key management employees are also shareholders in the Company. Transactions with Shareholders, Key Management Personnel and Members of the Board of Directors Transactions recorded in the consolidated statements of loss and comprehensive income (loss) between the Company and its shareholders, key management personnel and Board of Directors are set out in aggregate as follows: ​
​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ | ​ | 2023 |  | 2022
Revenue | ​ | — | ​ | 101
Salaries and subcontractors | ​ | (4,255) | ​ | (4,088)
Share based compensation | ​ | (1,688) | ​ | (2,769)
Professional fees | ​ | (163) | ​ | (44)
Other operational costs | ​ | — | ​ | (228)
​ | ​ | (6,106) | ​ | (7,028)
​ Transactions with Wild Streak and Spin Vendors Certain vendors in the sale of Wild Streak and Spin subsequently became employees of the Company. Transactions recorded in the consolidated statements of loss and comprehensive income (loss) between the Company and these employees are set out in aggregate as follows: ​
​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ | ​ | 2023 |  | 2022
Salaries and subcontractors | ​ | (2,292) | ​ | (1,326)
Share based compensation | ​ | (74) | ​ | (62)
(Loss) gain on remeasurement of deferred consideration | ​ | (440) | ​ | 804
Interest and financing fees | ​ | (403) | ​ | (316)
​ | ​ | (3,209) | ​ | (900)
​ ​ ​ ​ ​ 20 RELATED PARTY TRANSACTIONS (CONTINUED) Balances due to/from key management personnel, Board of Directors and Wild Streak and Spin vendors who subsequently became employees of the Company are set out in aggregate as follows: ​
​ | ​ | ​ | ​ | ​
​ | ​ | As at | ​ | As at
​ | ​ | December 31, | ​ | December 31,
​ | ​ | 2023 |  | 2022
Consolidated statements of financial position | ​ | ​ | ​ | ​
Trade and other receivables | ​ | 40 | ​ | 8
Trade payables and other liabilities | ​ | (1,945) | ​ | (2,019)
Deferred consideration - current | ​ | (1,513) | ​ | (1,176)
Deferred consideration - non-current | ​ | (1,426) | ​ | (2,121)
Net related party payable | ​ | (4,844) | ​ | (5,308)
​ Other transactions with key management personnel, Board of Directors and Wild Streak and Spin vendors who subsequently became employees of the Company are set out in aggregate as follows: ​
​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ | ​ | 2023 |  | 2022
Consolidated statements of changes in equity | ​ | ​ | ​ | ​
Shares issued as deferred consideration to Wild Streak Vendors | ​ | ​ | ​ | ​
Shares to be issued | ​ | (3,491) | ​ | (6,764)
Share capital | ​ | 3,491 | ​ | 6,764
Shares issued as consideration to Spin Vendors | ​ | ​ | ​ | ​
Share capital | ​ | 1,104 | ​ | 1,426
Net movement in equity | ​ | 1,104 | ​ | 1,426
​
​ | ​ | ​ | ​ | ​
​ | ​ | As at | ​ | As at
​ | ​ | December 31, | ​ | December 31,
​ | ​ | 2023 |  | 2022
Consolidated statements of cash flows | ​ | ​ | ​ | ​
Consideration paid upon business combination | ​ | — | ​ | (8,488)
Prepaid consideration | ​ | — | ​ | (821)
Repayment of loans | ​ | — | ​ | (94)
Net cash outflow | ​ | — | ​ | (9,403)
​

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