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Debt (Tables)

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Principal payments due on long-term debt

The current terms and conditions of long-term debt outstanding at December 31, 2018 and 2017, are as follows:

		Interest rate		Monthly repayment		Maturity date		2018				2017
ACOA AIF grant (C$2,871,919)		0%		Royalties		-		$	2,106,840			$	2,287,771
ACOA term loan (C$337,000)		0%		C$3,120		June 2026		203,735				251,056
Kubota Canada Ltd (C$95,961)		0%		C$1,142		Jan 2025		61,178				—
PEI Finance term loan (C$2,717,093)		4%		C$4,333		July 2021		1,219,681				545,387
Total debt								$	3,591,434			$	3,084,214
less: current portion								(71,613		)		(49,794		)
Long-term debt								$	3,519,821			$	3,034,420

Terms and conditions of long-term debt

Principal payments due on the long-term debt are as follows:

Year		AIF				ACOA				Kubota				FPEI				Total
2019		$	—			$	27,466			$	10,057			$	34,090			$	71,613
2020		—				27,466				10,057				42,034				79,557
2021		—				27,466				10,057				43,746				81,269
2022		—				27,466				10,057				45,529				83,052
2023		—				27,466				10,057				1,054,282				1,091,805
Thereafter		2,106,840				66,405				10,893				—				2,184,138
Total		$	2,106,840			$	203,735			$	61,178			$	1,219,681			$	3,591,434

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Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented.

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