General form of registration statement for all companies including face-amount certificate companies

SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.21.2
SIGNIFICANT ACCOUNTING POLICIES (Tables)
12 Months Ended
Dec. 31, 2020
Accounting Policies [Abstract]  
Schedule of consolidated statement of financial position
 

As at
December 31, 2020

   

Reported

 

Restated

Warrant liabilities

 

$

 

 

$

19,061

 

Current liabilities

 

 

10,164

 

 

 

29,225

 

Total liabilities

 

 

51,567

 

 

 

70,628

 

Additional paid-in capital

 

 

194,105

 

 

 

164,264

 

Accumulated deficit

 

 

(79,794

)

 

 

(69,014

)

Total shareholders’ equity

 

 

114,311

 

 

 

95,250

 

 

Year Ended
December 31, 2020

   

Reported

 

Restated

Revenue

 

$

12,117

 

 

$

12,117

 

Loss from operations

 

 

(28,528

)

 

 

(28,528

)

Gain on remeasurement of warrant liabilities

 

 

 

 

 

10,780

 

Net loss

 

 

(36,675

)

 

 

(25,895

)

Net loss attributable to common shareholder – basic and diluted

 

 

(46,894

)

 

 

(36,114

)

Basic and diluted earnings per share

 

 

(4.34

)

 

 

(3.34

)

 

Year Ended
December 31, 2020

   

Reported

 

Restated

Net loss

 

$

(36,675

)

 

$

(25,895

)

Gain on remeasurement of warrant liabilities

 

 

 

 

 

10,780

 

Net cash used in operating activities

 

 

(21,961

)

 

 

(21,961

)

 

Year Ended
December 31, 2020

   

Reported

 

Restated

Business combination and PIPE financing

 

$

77,635

 

$

47,794

Total shareholders’ equity

 

 

114,311

 

 

95,250

Schedule of fair value of its private warrants using the monte carlo simulation model
 

As at

   

December 18,
2020

 

December 31,
2020

Risk-free interest rate

 

 

0.45

%

 

 

0.43

%

Expected volatility

 

 

50

%

 

 

60

%

Share price

 

$

13.00

 

 

$

8.90

 

Exercise price

 

$

11.50

 

 

$

11.50

 

Expiration date

 

 

December 18, 2025

 

 

 

December 18, 2025

 

Schedule of straight-line basis over the estimated useful lives of the assets
 

Estimated Useful Life
(In Years)

Land

 

N/A – indefinite

Buildings & warehouse

 

2 – 40 years

Leasehold improvements

 

Shorter of lease term or useful life

Furniture and appliances

 

5 years

Agricultural equipment

 

2 – 10 years

Computer equipment & telecommunications networks

 

3 years

Transport equipment

 

5 years

Laboratory equipment

 

3 – 20 years

Schedule of intangible assets with finite useful lives
 

Remaining Useful
Life at the
Acquisition Date

(In Years)

Finite-lived intangible assets:

   

Customer contracts

 

8.7

Customer relationships

 

4 – 7

Customer list

 

5

Brand

 

10