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v3.20.4

Debt (Tables) | 12 Months Ended
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Dec. 31, 2020
Debt [Abstract] |
Terms and Conditions of Long-term Debt Outstanding | The current terms and conditions of long-term debt outstanding at December 31, 2020 and 2019, are as follows:
|  | Interest ‎rate |  | Monthly ‎repayment |  | Maturity ‎date |  | 2020 |  | 2019
ACOA AIF grant |  | 0% |  | Royalties |  | — |  | $ | 2,253,595 |  | $ | 2,206,208
ACOA term loan#1 |  | 0% |  | C$3,120 |  | Feb 2027 |  |  | 181,203 |  |  | 184,583
ACOA term loan#2 |  | 0% |  | C$4,630 |  | Sept 2029 |  |  | 381,451 |  |  | 384,100
Kubota Canada Ltd |  | 0% |  | C$1,142 |  | Jan 2025 |  |  | 43,925 |  |  | 53,533
PEI Finance term loan |  | 4% |  | C$16,313 |  | Nov 2023 |  |  | 2,014,321 |  |  | 1,766,783
First Farmers Bank & Trust |  | 5.375% |  | $ 56,832 |  | Oct 2028 |  |  | 4,000,000 |  |  | —
Total debt |  |  |  |  |  |  |  | $ | 8,874,495 |  | $ | 4,595,207
less: debt issuance costs |  |  |  |  |  |  |  |  | (86,066) |  |  | —
less: current portion |  |  |  |  |  |  |  |  | (259,939) |  |  | (163,155)
Long-term debt |  |  |  |  |  |  |  | $ | 8,528,490 |  | $ | 4,432,052
Principal Payments Due on Long-term Debt | Principal payments due on the long-term debt are as follows:
Year |  | AIF |  | ACOA |  | FPEI |  |  | Kubota |  |  | FFBT | Total
2021 |  |  |  | 72,977 |  | 76,915 |  |  | 10,757 |  |  | 116,675 | 277,324
2022 |  |  |  | 72,977 |  | 80,049 |  |  | 10,757 |  |  | 482,306 | 646,089
2023 |  |  |  | 72,977 |  | 1,857,357 |  |  | 10,757 |  |  | 509,256 | 2,450,347
2024 |  |  |  | 72,977 |  | — |  |  | 10,757 |  |  | 537,276 | 621,010
2025 |  |  |  | 72,977 |  | — |  |  | 897 |  |  | 567,735 | 641,609
Thereafter |  | 2,253,595 |  | 197,769 |  | — |  |  | — |  |  | 1,786,752 | 4,238,116
Total |  | 2,253,595 |  | 562,654 |  | 2,014,321 |  |  | 43,925 |  |  | 4,000,000 | 8,874,495

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28541-108399 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(e),(f)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28551-108399 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644 + Details
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- Definition Tabular disclosure of maturity and sinking fund requirement for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601 + Details
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