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LEASE OBLIGATIONS | 12 Months Ended
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Dec. 31, 2024
Lease Obligations |
LEASE OBLIGATIONS |
11. | LEASE OBLIGATIONS
SCHEDULE OF LEASE OBLIGATIONS
|  | December 31, 2024 |  |  | December 31, 2023 |
Opening balance |  | $ | 640,307 |  |  | $ | 939,005 |
Additions in the year |  |  | 288,753 |  |  |  | 42,393 |
Interest expense |  |  | 29,460 |  |  |  | 16,637 |
Foreign exchange |  |  | - |  |  |  | (31,643 | )
Lease payments |  |  | (323,781 | ) |  |  | (326,041 | )
Total leases |  |  | 634,739 |  |  |  | 640,307 |
Due within one year |  |  | (296,366 | ) |  |  | (254,668 | )
Ending balance |  | $ | 338,373 |  |  | $ | 385,639 |
Future minimum lease payments are as follows: SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS
|  | December 31, 2024 |  |  | December 31, 2023 |
Year 1 |  | $ | 301,647 |  |  | $ | 254,668 |
Year 2 |  |  | 157,194 |  |  |  | 194,261 |
Year 3 |  |  | 175,898 |  |  |  | 191,378 |
Year 4 and thereafter |  |  | - |  |  |  | - |
Total lease obligation |  | $ | 634,739 |  |  | $ | 640,307 |
Less finance expenses |  |  | - |  |  |  | - |
Lease Obligations |  | $ | 634,739 |  |  | $ | 640,307 |
The Company has a long-term deposit of $181,584 held by the Company’s bank to guarantee a portion of the office lease located in Israel. Siyata Mobile Inc. Notes to the Consolidated Financial Statements (Expressed in US dollars) As at and for the years ended December 31, 2024 and 2023

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- Definition The entire disclosure for leases. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2024-01-01 -Section Presentation -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2024-en-r&doctype=Standard&dita_xref=IFRS16_g47-50_TI -URIDate 2024-03-27 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2024-01-01 -Section Disclosure -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2024-en-r&doctype=Standard&dita_xref=IFRS16_g51-60_TI -URIDate 2024-03-27 + Details
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