Indebtedness

3 Months Ended

Mar. 31, 2023

Indebtedness

Indebtedness

12. 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 (CDIT loans) 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 $100,000 relating to the RETOS loan, which is reflected a non-current assets on the balance sheet.

	March 31, 2023		March 31, 2023		December 31, 2022		December 31, 2022
	Current		Non-current		Current		Non-current
NEBT Loan		8	$	32		13		31
RETOS 2015		58		128		44		190
	$	66	$	160	$	57	$	221

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 March 31, 2023 is as follows (amounts in thousands of dollars):

2023	8
2024	61
2025	64
2026	52
2027	32
2028	9
Total	226