Indebtedness

6 Months Ended

Jun. 30, 2022

Indebtedness

Indebtedness

11. Indebtedness

As a result of the acquisition of VCN the company acquired interest-free or below-market interest rates loans (0%-1%) extended by Spanish governmental institutions of Ministerio de Ciencia , Innovacion y Universidades and ACC10 Generalitat de Catalunya The maturities of these loans are between 2027 and 2028. As a result of the VCN acquisition, the company maintains a restricted cash collateral account of $96,000 relating to the RETOS 2015 loan, which is reflected as a non-current asset on the balance sheet.

	June 30, 2022		June, 2022
	Current		Non-current
NEBT Loan	$	6	$	37
RETOS 2015		50		179
	$	56	$	216

The difference between the fair value of these liabilities (when relevant conditions associated with the grants are met) and the amount received is recognized as a government grant and classified as other operating income in the statement of profit and loss.

A maturity analysis of the debt as of June 30, 2022 is as follows (amounts in thousands of dollars):

2023	$	56
2024		61
2025		60
2026		49
2027		30
2028		16
Total	$	272