Lease obligation

12 Months Ended

Dec. 31, 2023

Lease obligation

Lease Obligation

12. Lease obligation

	December 31,		December 31,
	2023		2022
Aircraft	$	37,242	$	378,769
Office Building		550,548		858,378
Printer		7,727		9,576
		595,517		1,246,723
Current portion of lease obligations		343,513		650,315
Long-term lease obligations		252,004		596,408

Maturity of lease liabilities:	Weighted Average Remaining Lease Term
2024	$	381,939		1.7 years
2025		259,528		0.8 years
2026		3,139		0.9 years
Total lease payments		644,606
Less imputed interest		(49,089	)
Total discounted lease payments		595,517
Current portion of lease obligations		343,513
Non-current portion of lease obligations		252,004

	Lease Term Till	Option to Extend	Incremental Borrowing Rate
Aircraft	April 2024	Executed		11.2	%
Office Building	September 2025	No		6.1	%
Printer	November 2026	No		10.8	%

As of December 31, 2023 and December 31, 2022 all of the Company’s leases were classified as operating leases. The Company’s total operating lease expenditures for the period ended December 31, 2023 was $709,521 (2022 - $774,047). The Company’s total financing lease expenditures for the period ended December 31, 2023 was $ nil (2022 - $27,950).