Quarterly report pursuant to Section 13 or 15(d)

INDEBTEDNESS

v3.22.1
INDEBTEDNESS
3 Months Ended
Mar. 31, 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 (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 $103,000 relating to the RETOS loan, which is reflected a non-current assets on the balance sheet.

    

March 31, 2022

    

March 31, 2022

Current

Non-current

 

  

 

  

NEBT Loan

15

$

40

RETOS 2015

53

189

$

68

$

229

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, 2022 is as follows (amounts in thousands of dollars):

2023

    

68

2024

 

65

2025

 

63

2026

 

52

2027

 

32

2028

 

17

Total

 

297