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Short-term Deposits	6 Months Ended
Jul. 31, 2021
Short-term Deposits
Note 4 - Short-term Deposits	Note 4 – Short-term Deposits Short-term deposits represent a deposit required for the new office lease in Australia. On June 1, 2021, the Company (through GTG) entered into a three-year term lease agreement for office space which commenced on June 1, 2021. The Company has the option to renew for a period of three years. The rent is $115,265 ($148,902 AUD) per year (subject to a 4% annual increase) plus goods and services tax charged at 10% based on Australian Taxation Law. Under the terms of the lease, the Company is required to provide a bank guarantee and has entered into a $60,330 ($81,896 AUD) Term Deposit at St. George Bank (with lessor as beneficiary) as collateral for the bank guarantee (from St. George Bank) to the benefit of the lessor. The Term Deposit was opened on June 1, 2021, has a one-year maturity and earns 0.25% interest per year. As of July 31, 2021, the Company recognized $297,763 of operating lease right-of-use asset, $86,649 of current operating lease liability and $211,915 of non-current operating lease liability related to the aforementioned lease.

Short-term Deposits

6 Months Ended

Jul. 31, 2021

Note 4 – Short-term Deposits

Short-term deposits represent a deposit required for the new office lease in Australia. On June 1, 2021, the Company (through GTG) entered into a three-year term lease agreement for office space which commenced on June 1, 2021. The Company has the option to renew for a period of three years. The rent is $115,265 ($148,902 AUD) per year (subject to a 4% annual increase) plus goods and services tax charged at 10% based on Australian Taxation Law.

Under the terms of the lease, the Company is required to provide a bank guarantee and has entered into a $60,330 ($81,896 AUD) Term Deposit at St. George Bank (with lessor as beneficiary) as collateral for the bank guarantee (from St. George Bank) to the benefit of the lessor. The Term Deposit was opened on June 1, 2021, has a one-year maturity and earns 0.25% interest per year.

As of July 31, 2021, the Company recognized $297,763 of operating lease right-of-use asset, $86,649 of current operating lease liability and $211,915 of non-current operating lease liability related to the aforementioned lease.