Post by
phantom666 on Nov 29, 2023 11:26am
Do Investors Really Look Closely At Financials?
From the Mar.15th NR - " its production plant in Jordan, Ontario has reached the milestone of operational readiness and will begin producing IZ’s proprietary zeolite nutrient delivery products in late March."
If someone hadn't posted, 7 months later, from the MD&A, that they are moving the PP, we would still scratching our heads about what the hell is going on!
I bet you dollars to doughnuts that IZ's inner-circle knew days after the decision to move the Pilot Plant!
the Company entered into a 2-year lease agreement for pilot plant in Jordan Station, Ontario, Canada.
Right-of-use assets (Note 11) 187,801
Lease liability - current portion (note 11) 124,130
Lease liability - non-current portion (note 11) 67,366
Amortization of right-of-use assets (note 11) 62,600
Interest on finance lease (note 11) 8,592
11. Right-of-use assets and lease liabilities On December 1, 2022,
The lease payments are discounted using an interest rate of 8%, which is the Company’s incremental borrowing rate.
2023 Lease liability, beginning of year $ - Additions 250,402 Interest expense 8,592 Lease payments (67,500)
Lease liability, end of year $ 191,494
Allocated as: Current 124,130
Long term 67,364
Balance, end of year 191,494
Maturity analysis - contractual undiscounted cash flows: As at: June 30, 2023 Due less than one year $ 135,000
Due between one and two years 67,500
Total undisclosed lease obligations $ 202,500
Below summarizes the right-of-use asset: As at: June 30, 2023 Net book value, beginning of year $ - Additions 250,402 Amortization expense (62,600) Net book value, end of year $ 187,801