PROPERTY AND EQUIPMENT (Tables)

12 Months Ended

Dec. 31, 2021

Property And Equipment

SCHEDULE OF PROPERTY AND EQUIPMENT

	Equipment not ready for use			Leasehold improvements			Machinery and equipment			Office equipment			Total
Cost
Balance, January 1, 2019	$	3,142,153		$	667,342		$	11,017,985		$	621,441		$	15,448,921
Additions		1,986,210			-			39,260			19,480			2,044,950
Impairment and disposals (1)		(4,388,762	)		(667,342	)		(8,198,519	)		(555,688	)		(13,810,311	)
Effect of changes in foreign exchange rates		24,741			-			14,529			-			39,270
Balance, December 31, 2019		764,342			-			2,873,255			85,233			3,722,830
Additions		888,726			68,961			525,685			38,416			1,521,788
Reclassification		(519,366	)		-			516,111			3,255			-
Disposals (2)		(897,727	)		-			-			-			(897,727	)
Effect of changes in foreign exchange rates		(8,828	)		2,967			79,606			1,281			75,026
Balance,December 31, 2020		227,147			71,928			3,994,657			128,185			4,421,917
Additions, net of returns (3)		(128,575	)		-			842,877			57,221			771,523
Reclassification		(96,334	)		47,393			48,941			-			-
Effect of changes in foreign exchange rates		(2,238	)		(2,206	)		(56,455	)		(2,137	)		(63,036	)
Balance, December 31, 2021	$	-		$	117,115		$	4,830,020		$	183,269		$	5,130,404

POET TECHNOLOGIES INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Expressed in US Dollars)

6. PROPERTY AND EQUIPMENT (Continued)

Accumulated Depreciation
Balance, January 1, 2019		-		350,497			5,411,757			387,154			6,149,408
Depreciation for the year		-		-			144,337			22,005			166,342
Impairment and disposals (1)		-		(350,497	)		(5,044,288	)		(341,195	)		(5,735,980	)
Balance, December 31, 2019		-		-			511,806			67,964			579,770
Depreciation for the year		-		10,332			609,803			11,128			631,263
Effect of changes in foreign exchange rates		-		445			24,405			280			25,130
Balance, December 31, 2020		-		10,777			1,146,014			79,372			1,236,163
Depreciation for the year		-		18,891			794,834			26,641			840,366
Effect of changes in foreign exchange rates		-		(142	)		(10,122	)		(95	)		(10,359	)
Balance, December 31, 2021		-		29,526			1,930,726			105,918			2,066,170
Carrying Amounts
At December 31, 2019	$	764,342	$	-		$	2,361,449		$	17,269		$	3,143,060
At December 31, 2020	$	227,147	$	61,151		$	2,848,643		$	48,813		$	3,185,754
At December 31, 2021	$	-	$	87,589		$	2,899,294		$	77,351		$	3,064,234

(1)	On November 8, 2019, the Company disposed of property and equipment used in the operations DenseLight.
(2)	During 2020, the Company settled certain R&D expenses by transferring $897,727 worth of equipment to the supplier. The equipment was initially installed in the fabrication facility of the supplier who provided discounted R&D services to the Company. The equipment will be used by the supplier for volume production primarily for the benefit of the Company.
(3)	During the year, the Company returned $196,490 in equipment to a vendor. The equipment was not needed as the Company had alternatives. The equipment was returned without penalty to the Company.