Document And Entity Information
Document And Entity Information | 6 Months Ended |
Jun. 30, 2023 | |
Document Information Line Items | |
Entity Registrant Name | Akanda Corp. |
Document Type | F-1 |
Amendment Flag | false |
Entity Central Index Key | 0001888014 |
Entity Emerging Growth Company | true |
Entity Ex Transition Period | false |
Entity Incorporation, State or Country Code | A6 |
Entity Address, Address Line One | 1a, 1b Learoyd Road |
Entity Address, City or Town | New Romney |
Entity Address, Postal Zip Code | TN28 8XU |
Entity Address, Country | GB |
City Area Code | 44 (203) |
Local Phone Number | 488-9514 |
Business Contact | |
Document Information Line Items | |
Entity Address, Address Line One | 1015 15th Street |
Entity Address, City or Town | D.C |
Entity Address, Postal Zip Code | 20005 |
City Area Code | +1 (866) |
Local Phone Number | 925-9916 |
Contact Personnel Name | C T Corporation System |
Entity Address, Address Line Two | N.W., Suite 1000 |
Entity Address, State or Province | WA |
Unaudited Condensed Interim Con
Unaudited Condensed Interim Consolidated Statements of Financial Position | Jun. 30, 2023 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) |
Current | ||||
Cash | $ 443,338 | $ 228,794 | $ 3,495,390 | $ 13,504 |
Cash held in trust | 27,009 | |||
Trade and other receivables | 657,568 | 1,235,619 | 242,357 | |
Prepayments | 336,985 | 199,488 | 242,529 | 113,485 |
Biological assets | 257,144 | 809,180 | ||
Inventory | 1,280,073 | 1,057,240 | 611 | |
Marketable securities | 270,000 | 263,691 | ||
Total Current Assets | 3,245,108 | 3,821,021 | 3,980,276 | 127,600 |
Non-Current | ||||
Property, plant and equipment | 11,556,836 | 12,159,504 | 1,897,748 | 1,626,032 |
Intangible assets | 20,972,510 | 22,208,594 | 259,102 | 321,406 |
Loan receivable | 506,460 | 483,588 | ||
Right-of-use assets | 226,642 | 324,070 | 1,908,877 | 2,199,779 |
Total Non-Current assets | 33,262,448 | 35,175,756 | 4,065,727 | 4,147,217 |
Total Assets | 36,507,556 | 38,996,777 | 8,046,003 | 4,274,817 |
Current | ||||
Trade and other payables | 8,460,194 | 7,139,817 | 680,328 | 183,895 |
Lease liability | 225,265 | 214,058 | 439,709 | 283,976 |
Loans and borrowings | 2,478,555 | 936,793 | 432,201 | 2,263,605 |
Secured convertible debenture | 6,716,190 | |||
Holdback payable | 400,000 | 377,465 | ||
Due to related party | 811,905 | 679,617 | ||
Total Current Liabilities | 12,375,919 | 9,347,750 | 8,268,428 | 2,731,476 |
Non-Current | ||||
Lease liability | 19,831 | 116,763 | 1,978,997 | 2,598,176 |
Loans and borrowings | 2,462,763 | 2,632,103 | 3,977,108 | |
Total Non-Current Liabilities | 2,482,594 | 2,748,866 | 1,978,997 | 6,575,284 |
Total Liabilities | 14,858,513 | 12,096,616 | 10,247,425 | 9,306,760 |
Shareholders’ Equity | ||||
Share capital | 50,188,451 | 49,434,692 | 7,255,695 | |
Other reserves | 21,053 | 21,053 | 3,618,670 | 21,053 |
Accumulated deficit | (26,965,844) | (21,087,962) | (13,293,889) | (5,162,692) |
Accumulated other comprehensive income (loss) | (1,594,617) | (1,467,622) | 218,102 | 108,060 |
Total Shareholders’ Equity | 49,434,692 | 7,255,695 | (5,031,943) | |
Total Liabilities and Shareholders’ Equity | 36,507,556 | 38,996,777 | 8,046,003 | 4,274,817 |
Previously stated | ||||
Shareholders’ Equity | ||||
Share capital | 7,255,695 | 1,636 | ||
Total Shareholders’ Equity | $ 21,649,043 | $ 26,900,161 | $ (2,201,422) | $ (5,031,943) |
Unaudited Condensed Interim C_2
Unaudited Condensed Interim Consolidated Statements of Loss and Comprehensive Loss - USD ($) | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Statements [line items] | ||||||
Sales | $ 1,397,443 | $ 73,096 | $ 2,619,682 | $ 41,431 | $ 2,062 | |
Cost of sales | 570,275 | 12,870 | 566,252 | 43,022 | 1,809 | |
Gross Profit before gain on change in fair value of biological assets and inventory | 827,168 | 60,226 | 2,053,430 | (1,591) | 253 | |
Gain on change in fair value of biological assets and inventory | 108,239 | 33,078 | 1,216,129 | |||
Gross Profit (Loss) | 935,407 | 93,304 | 3,269,559 | (1,591) | ||
Operating expenses | ||||||
Depreciation and amortization | 2,150,045 | 1,511,138 | 3,598,323 | 478 | ||
Consulting and professional fees | 2,205,504 | 2,366,997 | 7,759,824 | 1,212,422 | ||
Personnel expenses | 1,442,231 | 3,782,727 | 6,593,527 | 1,184,734 | ||
Travel expenses | 65,667 | 50,636 | 56,851 | |||
Share-based payment expenses to social development trust | 2,174,908 | 2,124,615 | ||||
General and administrative expenses | 958,814 | 1,175,647 | 3,369,659 | 170,926 | ||
License fees | 5,073 | 1,491 | ||||
Total operating expenses | 6,756,594 | 11,011,417 | 23,445,948 | 25,685,620 | ||
Operating loss | (5,821,187) | (10,918,113) | (20,176,389) | (2,570,151) | ||
Other income: | ||||||
Finance income | 20 | 747 | 886 | 90 | ||
Finance expense | (224,458) | (36,606) | (115,324) | (10,509) | ||
Foreign exchange gain (loss), net | 152,775 | (180,990) | (256,431) | 106,813 | ||
Gain on bargain purchase | 12,760,356 | 12,760,356 | ||||
Gain on debt settlement | 10,422 | 67,075 | ||||
Other income | 4,082 | 207 | 659 | 54 | 108 | |
Change in fair value of financial assets measured at FVTPL | 464 | (472,311) | (516,281) | |||
Total other income | (56,695) | 12,071,403 | 11,940,940 | 96,448 | ||
Net income (loss) from continuing operations | (5,877,882) | 1,153,290 | (8,235,449) | (2,473,703) | ||
Loss from discontinued operations | (3,747,034) | (3,422,225) | (5,657,494) | |||
Net loss | (5,877,882) | (2,593,744) | (11,657,674) | (8,131,197) | (2,300,571) | (1,394,641) |
Translation adjustment | (126,995) | (1,019,498) | (1,395,508) | 110,042 | 150,626 | (42,566) |
Comprehensive loss | $ (6,004,877) | $ (3,613,242) | $ (13,053,182) | $ (8,021,155) | $ (2,149,945) | $ (1,437,207) |
Earnings (loss) per share from continuing operations – basic (in Dollars per share) | $ (1.46) | $ 0.43 | $ (0.28) | $ (0.15) | ||
Loss per share – basic (in Dollars per share) | $ (1.46) | $ (0.97) | $ (0.39) | $ (0.5) | $ (0.18) | $ (0.11) |
Weighted average common shares outstanding (in Shares) | 4,029,293 | 2,683,544 | 29,930,094 | 16,223,996 | 13,129,212 | 13,129,212 |
Previously Stated | ||||||
Statements [line items] | ||||||
Gain on change in fair value of biological assets and inventory | $ (713,135) | $ (58,429) | ||||
Gross Profit (Loss) | (714,726) | (58,176) | ||||
Operating expenses | ||||||
Depreciation and amortization | 309,022 | 248,743 | 198,824 | |||
Consulting and professional fees | 1,855,419 | 702,016 | 365,641 | |||
Personnel expenses | 2,379,649 | 374,900 | 100,256 | |||
General and administrative expenses | 1,504,172 | 229,743 | 179,663 | |||
Total operating expenses | 6,119,002 | 1,607,529 | 901,235 | |||
Operating loss | (6,833,728) | (1,665,705) | (901,235) | |||
Other income: | ||||||
Finance income | 26,749 | 10,188 | 401 | |||
Finance expense | (1,092,881) | (645,162) | (493,807) | |||
Foreign exchange gain (loss), net | (231,391) | |||||
Total other income | (1,297,469) | $ (634,866) | $ (493,406) | |||
Net loss | $ (5,877,882) | $ (2,593,744) | (8,131,197) | |||
Translation adjustment | $ (126,995) | $ (1,019,498) | $ 110,042 |
Unaudited Condensed Interim C_3
Unaudited Condensed Interim Consolidated Statements of Loss and Comprehensive Loss (Parentheticals) - $ / shares | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Statements [line items] | ||||||
Earnings (loss) per share from continuing operations – diluted | $ (1.46) | $ 0.43 | $ (0.28) | $ (0.15) | ||
Loss per share – diluted | $ (1.46) | $ (0.97) | $ (0.39) | $ (0.50) | $ (0.18) | $ (0.11) |
Unaudited Condensed Interim C_4
Unaudited Condensed Interim Consolidated Statements of Shareholders’ Equity - USD ($) | Share capital Fair value of RSUs issued at $1.84 per share | Share capital Fair value of RSUs issued at $1.11 per share | Share capital Restricted stock units at 0.97 per share [Member] | Share capital Restricted stock units at 0.83 per share [Member] | Share capital Restricted stock units at 0.71 per share [Member] | Share capital Restricted stock units at 0.26 per share [Member] | Share capital Restricted stock units at 0.23 per share [Member] | Share capital | Contributed surplus Fair value of RSUs issued at $1.84 per share | Contributed surplus Fair value of RSUs issued at $1.11 per share | Contributed surplus | Other reserves Fair value of RSUs issued at $1.84 per share | Other reserves Fair value of RSUs issued at $1.11 per share | Other reserves Restricted stock units at 0.97 per share [Member] | Other reserves Restricted stock units at 0.83 per share [Member] | Other reserves Restricted stock units at 0.71 per share [Member] | Other reserves Restricted stock units at 0.26 per share [Member] | Other reserves Restricted stock units at 0.23 per share [Member] | Other reserves | Accumulated deficit Fair value of RSUs issued at $1.84 per share | Accumulated deficit Fair value of RSUs issued at $1.11 per share | Accumulated deficit Restricted stock units at 0.97 per share [Member] | Accumulated deficit Restricted stock units at 0.83 per share [Member] | Accumulated deficit Restricted stock units at 0.71 per share [Member] | Accumulated deficit Restricted stock units at 0.26 per share [Member] | Accumulated deficit Restricted stock units at 0.23 per share [Member] | Accumulated deficit | Accumulated other comprehensive loss Fair value of RSUs issued at $1.84 per share | Accumulated other comprehensive loss Fair value of RSUs issued at $1.11 per share | Accumulated other comprehensive loss Restricted stock units at 0.97 per share [Member] | Accumulated other comprehensive loss Restricted stock units at 0.83 per share [Member] | Accumulated other comprehensive loss Restricted stock units at 0.71 per share [Member] | Accumulated other comprehensive loss Restricted stock units at 0.26 per share [Member] | Accumulated other comprehensive loss Restricted stock units at 0.23 per share [Member] | Accumulated other comprehensive loss | Fair value of RSUs issued at $1.84 per share | Fair value of RSUs issued at $1.11 per share | Restricted stock units at 0.97 per share [Member] | Restricted stock units at 0.83 per share [Member] | Restricted stock units at 0.71 per share [Member] | Restricted stock units at 0.26 per share [Member] | Restricted stock units at 0.23 per share [Member] | Total |
Balance at Dec. 31, 2018 | $ 10 | $ (1,467,480) | $ (1,467,470) | ||||||||||||||||||||||||||||||||||||||||
Effective of change in par value | (7) | 7 | |||||||||||||||||||||||||||||||||||||||||
Share issuance | 156 | 156 | |||||||||||||||||||||||||||||||||||||||||
Net loss | (1,394,641) | (1,394,641) | |||||||||||||||||||||||||||||||||||||||||
Translation adjustment | (42,566) | (42,566) | |||||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2019 | 159 | 7 | (2,862,121) | (42,566) | (2,904,521) | ||||||||||||||||||||||||||||||||||||||
Share issuance | 1,477 | 1,477 | |||||||||||||||||||||||||||||||||||||||||
Contribution to reserves by owners of the Company | 21,046 | 21,046 | |||||||||||||||||||||||||||||||||||||||||
Net loss | (2,300,571) | (2,300,571) | |||||||||||||||||||||||||||||||||||||||||
Translation adjustment | 150,626 | 150,626 | |||||||||||||||||||||||||||||||||||||||||
Balance (Previously stated) at Dec. 31, 2020 | 159 | 21,053 | (5,162,692) | 108,060 | (5,031,943) | ||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2020 | 1,636 | 21,053 | (5,162,692) | 108,060 | (5,031,943) | ||||||||||||||||||||||||||||||||||||||
Fair value of RSU’s issued | |||||||||||||||||||||||||||||||||||||||||||
Net loss | Previously stated | (8,131,197) | (8,131,197) | |||||||||||||||||||||||||||||||||||||||||
Net loss | (8,131,197) | (8,131,197) | |||||||||||||||||||||||||||||||||||||||||
Translation adjustment | Previously stated | 110,042 | 110,042 | |||||||||||||||||||||||||||||||||||||||||
Translation adjustment | 110,042 | 110,042 | |||||||||||||||||||||||||||||||||||||||||
Balance (Previously stated) at Dec. 31, 2021 | 7,255,695 | 3,618,670 | (13,293,889) | 218,102 | (2,201,422) | ||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2021 | 7,255,695 | ||||||||||||||||||||||||||||||||||||||||||
Recapitalization | Previously stated | 3,597,617 | 35,977 | |||||||||||||||||||||||||||||||||||||||||
Recapitalization | 3,597,617 | 3,597,617 | |||||||||||||||||||||||||||||||||||||||||
Issuance of shares for cash, net of costs | Previously stated | 5,054,059 | 5,054,059 | |||||||||||||||||||||||||||||||||||||||||
Issuance of shares for cash, net of costs | 5,054,059 | 5,054,059 | |||||||||||||||||||||||||||||||||||||||||
Shares for debt | Previously stated | 2,200,000 | 2,200,000 | |||||||||||||||||||||||||||||||||||||||||
Shares for debt | 2,200,000 | 2,200,000 | |||||||||||||||||||||||||||||||||||||||||
Issuance of shares for Holigen Acquisition | Previously stated | 16,131,000 | 16,131,000 | |||||||||||||||||||||||||||||||||||||||||
Issuance of shares to ASDT | Previously stated | 2,174,908 | 2,174,908 | |||||||||||||||||||||||||||||||||||||||||
Issuance of shares from private placement | Previously stated | 298,684 | 298,684 | |||||||||||||||||||||||||||||||||||||||||
Issuance of shares from IPO | Previously stated | 14,682,078 | 14,682,078 | |||||||||||||||||||||||||||||||||||||||||
Issuance of shares upon conversion of note | Previously stated | 6,559,000 | 6,559,000 | |||||||||||||||||||||||||||||||||||||||||
Loss of control of Bophelo Bio | Previously stated | (156) | (3,597,619) | 3,863,601 | (232,712) | 33,114 | ||||||||||||||||||||||||||||||||||||||
Stock-based compensation | Previously stated | 576,340 | 576,340 | |||||||||||||||||||||||||||||||||||||||||
Net loss | Previously stated | (2,593,744) | (2,593,744) | |||||||||||||||||||||||||||||||||||||||||
Net loss | (2,593,744) | ||||||||||||||||||||||||||||||||||||||||||
Translation adjustment | Previously stated | (1,019,498) | (1,019,498) | |||||||||||||||||||||||||||||||||||||||||
Translation adjustment | (1,019,498) | ||||||||||||||||||||||||||||||||||||||||||
Balance (Previously stated) at Jun. 30, 2022 | 47,101,209 | 576,340 | 21,051 | (12,024,032) | (1,034,108) | 34,640,460 | |||||||||||||||||||||||||||||||||||||
Balance (Previously stated) at Dec. 31, 2021 | 7,255,695 | 3,618,670 | (13,293,889) | 218,102 | (2,201,422) | ||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2021 | 7,255,695 | ||||||||||||||||||||||||||||||||||||||||||
Issuance of shares for Holigen Acquisition | 16,131,000 | 16,131,000 | |||||||||||||||||||||||||||||||||||||||||
Issuance of shares to ASDT | 2,124,615 | 2,124,615 | |||||||||||||||||||||||||||||||||||||||||
Issuance of shares from private placement | 278,481 | 278,481 | |||||||||||||||||||||||||||||||||||||||||
Issuance of shares from IPO | 14,654,593 | 14,654,593 | |||||||||||||||||||||||||||||||||||||||||
Issuance of shares upon conversion of note | 6,559,000 | 6,559,000 | |||||||||||||||||||||||||||||||||||||||||
Loss of control of Bophelo Bio | (156) | (3,597,617) | 3,863,601 | (290,216) | (24,388) | ||||||||||||||||||||||||||||||||||||||
Fair value of RSU’s issued | $ 1,090,832 | $ 560,135 | $ 431,757 | $ 210,740 | $ 138,000 | $ 1,090,832 | $ 560,135 | $ 431,757 | $ 210,740 | $ 138,000 | 2,498,754 | ||||||||||||||||||||||||||||||||
Net loss | (11,657,674) | (11,657,674) | |||||||||||||||||||||||||||||||||||||||||
Translation adjustment | (1,395,508) | (1,395,508) | |||||||||||||||||||||||||||||||||||||||||
Balance (Previously stated) at Dec. 31, 2022 | 49,434,692 | 21,053 | (21,087,962) | (1,467,622) | 26,900,161 | ||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2022 | 49,434,692 | ||||||||||||||||||||||||||||||||||||||||||
Fair value of RSU’s issued | Previously stated | $ 774,736 | $ 179,037 | $ 774,736 | $ 179,037 | |||||||||||||||||||||||||||||||||||||||
Cancelled shares | Previously stated | (200,014) | (200,014) | |||||||||||||||||||||||||||||||||||||||||
Net loss | Previously stated | (5,877,882) | (5,877,882) | |||||||||||||||||||||||||||||||||||||||||
Net loss | (5,877,882) | ||||||||||||||||||||||||||||||||||||||||||
Translation adjustment | Previously stated | (126,995) | (126,995) | |||||||||||||||||||||||||||||||||||||||||
Translation adjustment | (126,995) | ||||||||||||||||||||||||||||||||||||||||||
Balance (Previously stated) at Jun. 30, 2023 | $ 50,188,451 | $ 21,053 | $ (26,965,844) | $ (1,594,617) | $ 21,649,043 |
Unaudited Condensed Interim C_5
Unaudited Condensed Interim Consolidated Statements of Shareholders’ Equity (Parentheticals) - $ / shares | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
Fair value of RSUs issued at $1.84 per share | Previously Stated | ||
RSUs issued, per share | $ 1.84 | |
Fair value of RSUs issued at $1.11 per share | Previously Stated | ||
RSUs issued, per share | $ 1.11 | |
Restricted stock units at 0.97 per share [Member] | ||
Stock price | $ 0.97 | |
Restricted stock units at 0.83 per share [Member] | ||
Stock price | 0.83 | |
Restricted stock units at 0.71 per share [Member] | ||
Stock price | 0.71 | |
Restricted stock units at 0.26 per share [Member] | ||
Stock price | 0.26 | |
Restricted stock units at 0.23 per share [Member] | ||
Stock price | $ 0.23 |
Unaudited Condensed Interim C_6
Unaudited Condensed Interim Consolidated Statements of Cash Flows - USD ($) | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Cash flows from operating activities: | ||||||
Net income (loss) from continuing operations | $ (5,877,882) | $ 1,153,290 | $ (8,235,449) | $ (2,473,703) | ||
Net loss from discontinued operations | (3,747,034) | (3,422,225) | (5,657,494) | |||
Net loss for the period | (5,877,882) | (2,593,744) | (11,657,674) | (8,131,197) | $ (2,300,571) | $ (1,394,641) |
Adjustments for non-cash items: | ||||||
Loss on loss of control of Bophelo Bio, net of cash surrendered | 2,571,054 | 2,375,840 | ||||
Gain on bargain purchase | (12,760,356) | (12,760,356) | ||||
Share based payments to social development trust | 2,174,908 | 2,124,615 | ||||
Depreciation and amortization | 2,150,045 | 1,685,038 | 3,763,321 | 309,022 | 248,743 | 198,824 |
Change in fair value of biological assets | (108,239) | (1,216,130) | 713,135 | |||
Change in fair value of financial asset at fair value through profit or loss | (464) | 472,311 | 516,281 | |||
Stock-based compensation | 576,340 | 559,225 | ||||
Interest expenses | 219,936 | 122,829 | 210,996 | 1,139,475 | 645,162 | 493,807 |
Write-off of property, plant and equipment | 23,748 | |||||
Fair value o’ RSU’s issued | 2,498,754 | |||||
Fair value of RSU’s exercised, net of cancelled shares | 753,759 | |||||
Gain on settlement on debt | (10,422) | (67,075) | ||||
Working capital adjustments (net of amounts acquired/disposed): | ||||||
Trade and other receivables | 599,081 | (118,397) | (591,072) | (242,357) | ||
Prepayments | (129,786) | (932,981) | (709,124) | (129,044) | (113,175) | (310) |
Inventory | 467,285 | 501,706 | (712,524) | (611) | ||
Trade and other payables | 1,025,203 | 330,065 | 2,915,276 | 140,897 | 42,285 | |
Other current liabilities | 496,428 | |||||
Due to related parties | 119,212 | 66,021 | 3,339 | 17,707 | ||
Cash flows used in operating activities | (911,484) | (8,353,721) | (11,469,396) | (6,557,062) | (1,352,468) | (642,328) |
Cash flows from investing activities: | ||||||
Acquisition of Holigen, net of cash acquired and holdback | (2,366,593) | (2,366,609) | ||||
Purchase of financial assets at fair value through profit or loss | (801,160) | (801,160) | ||||
Additions to property, plant and equipment | (1,935) | (263,391) | (310,946) | (576,472) | (439,137) | (670,297) |
Proceeds from advances issued | 6,934 | (6,848) | ||||
Payments for acquisition of cannabis licenses | (15,625) | |||||
Cash surrendered on loss of control of Bophelo Bio Sciences | (800,794) | (739,947) | ||||
Cash flows used in investing activities | (1,935) | (4,231,938) | (4,218,662) | (576,472) | (432,203) | (692,770) |
Cash flows from financing activities: | ||||||
Proceeds from IPO, net of costs | 14,654,593 | 14,654,593 | ||||
Proceeds from private placement, net of costs | 278,482 | 278,482 | 5,054,058 | |||
Proceeds from share issue | 5,054,058 | 1,477 | ||||
Loans received | 1,495,597 | 495,665 | 501,217 | 6,679,135 | 1,169,796 | 2,116,312 |
Loans repaid | (221,063) | (189,892) | (649,661) | (137,788) | ||
Lease payments | (60,000) | (596,522) | (645,995) | (497,502) | ||
Cash flows provided by financing activities | 1,214,534 | 14,642,326 | 14,138,636 | 11,235,691 | 1,033,485 | 2,116,312 |
Net increase (decrease) in cash and cash equivalents | 301,115 | 2,056,667 | (1,549,422) | 4,102,157 | (751,186) | 781,214 |
Effects of exchange rate changes on cash and cash equivalents | (113,580) | (1,148,843) | (1,690,165) | (620,271) | (54,873) | 14,205 |
Cash and cash equivalents at the beginning of the period | 255,803 | 3,495,390 | 3,495,390 | 13,504 | 819,563 | 24,144 |
Cash and cash equivalents at the end of the period | $ 443,338 | $ 4,403,214 | $ 255,803 | $ 3,495,390 | $ 13,504 | $ 819,563 |
Nature of Operations and Going
Nature of Operations and Going Concern | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Nature of Operations and Going Concern [Abstract] | |||
Nature of Operations and Going Concern | 1. Akanda Corp. (the “Company”) is domiciled in Canada and was incorporated on July 16, 2021. The Company’s registered office is 77 King Street West, Suite 400, Toronto -Dominion Prior to the liquidation event on July 15, 2022 described below, the Company, through its indirectly held subsidiary, Bophelo Bio Science and Wellness (Pty) Ltd. is in the business of cultivating and manufacturing cannabis biomass and medical cannabis products in Lesotho (specifically near Ts’akholo, in the Mafeteng district of the Kingdom of Lesotho, Southern Africa), for export to international markets. At December 31, 2022, the Company determined that it no longer controlled Bophelo Bio Science and Wellness (Pty) Ltd. as a result of the insolvent liquidation order signed by the Lesotho Court on July 15, 2022 (note 5). As a result of the loss of control, the Company derecognized all assets and liabilities at their book values on December 31, 2022 and wrote down all balances receivable from the entity to $ nil -based The Company was incorporated for the designed purpose of becoming the ultimate parent company of Cannahealth Ltd. (“Cannahealth”), through a reorganization of entities with common control. The share purchase agreement became unconditional on or about November 3, 2021 and the Company acquired the shares in the aforementioned entities from Halo Collective Inc. (“Halo”). On April 29, 2022, the Company, through its wholly owned subsidiary, Cannahealth, acquired 100% of the Ordinary Shares of Holigen Limited (“Holigen”) and its wholly -owned The Company’s condensed interim consolidated financial statements have been prepared on a going concern basis which assumes that the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The Company incurred a net cash outflow of $911,484 from operating activities for the six months ended June 30, 2023. As of June 30, 2023, the Company had working capital deficit of $9,130,811 and has accumulated losses of $26,965,844. The continuing operations of the Company are dependent upon its ability to raise further cash funding by way of issuing debt and/or equity, as well as its ability to generate cash profits from its investments in Canmart and Holigen Ltd. in the near future. The Company is an early -stage These uncertainties may cast significant doubt upon the Company’s ability to continue as a going concern. These condensed interim consolidated financial statements do not include any adjustments relating to the recoverability and classification of assets and liabilities which might be necessary should the Company be unable to continue in existence. | 1. Akanda Corp. (the “Company”) is domiciled in Canada and was incorporated on July 16, 2021. The Company’s registered office is 77 King Street West, Suite 400, Toronto -Dominion Prior to the liquidation event on July 15, 2022 described below, the Company, through its indirectly held subsidiary, Bophelo Bio Science and Wellness (Pty) Ltd. is in the business of cultivating and manufacturing cannabis biomass and medical cannabis products in Lesotho (specifically near Ts’akholo, in the Mafeteng district of the Kingdom of Lesotho, Southern Africa), for export to international markets. At December 31, 2022, the Company determined that it no longer controlled Bophelo Bio Science and Wellness (Pty) Ltd. as a result of the insolvent liquidation order signed by the Lesotho Court on July 15, 2022 (note 5). As a result of the loss of control, the Company derecognized all assets and liabilities at their book values on December 31, 2022 and wrote down all balances receivable from the entity to $ nil -based The Company was incorporated for the designed purpose of becoming the ultimate parent company of Cannahealth Ltd. (“Cannahealth”), through a reorganization of entities with common control. The share purchase agreement became unconditional on or about November 3, 2021 and the Company acquired the shares in the aforementioned entities from Halo Collective Inc. (“Halo”). On April 29, 2022, the Company, through its wholly owned subsidiary, Cannahealth, acquired 100% of the Ordinary Shares of Holigen Limited (“Holigen”) and its wholly -owned The Company’s consolidated financial statements have been prepared on a going concern basis which assumes that the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. Attention is drawn to the fact that the Company incurred a net cash outflow of $11,469,396 from operating activities for the year ended December 31, 2022. The continuing operations of the Company are dependent upon its ability to raise further cash funding by way of issuing debt and/or equity, as well as its ability to generate cash profits from its investments in Canmart and Holigen Ltd. in the near future. The Company is an early -stage These uncertainties may cast significant doubt upon the Company’s ability to continue as a going concern. These financial statements do not include any adjustments relating to the recoverability and classification of assets and liabilities which might be necessary should the Company be unable to continue in existence. | 1. Akanda Corp. (the “Company”) is domiciled in Canada and was incorporated on July 16, 2021. The Company’s registered office is 77 King Street West, Suite 400, Toronto -Dominion The Company through its indirectly held subsidiary, Bophelo Bio Science and Wellness Pty Ltd. is in the business of cultivating and manufacturing cannabis biomass and medical cannabis products in Lesotho, for export to international markets. The Company is also in the business of sales and distribution of cannabis -based The Company was incorporated for the designed purpose of becoming the ultimate parent company of Cannahealth Ltd. (“Cannahealth”), through a reorganization of entities with common control. The share purchase agreement became unconditional on or about November 3, 2021 and the Company acquired the shares in the aforementioned entities from Halo Collective Inc. (“Halo”). The Company’s consolidated financial statements have been prepared on a going concern basis which assumes that the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The Company is an early -stage During March 2020, the World Health Organization declared Covid -19 |
Basis of Preparation
Basis of Preparation | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Basis of Preparation [Abstract] | |||
Basis of Preparation | 2. (a) These condensed interim consolidated financial statements, including comparatives, have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”) and interpretations issued by the International Financial Reporting Interpretations Committee (“IFRIC”). These condensed interim consolidated financial statements have been prepared in accordance with International Accounting Standard (“IAS”) 34 Interim Financial Reporting and have been prepared using the same accounting policies and methods of application as those used in the Company’s audited consolidated financial statements for the year ended December 31, 2022. These condensed interim consolidated financial statements do not include all of the information required for full annual consolidated financial statements and should be read in conjunction with the Company’s audited consolidated financial statements for the year ended December 31, 2022. (b) These condensed interim consolidated financial statements have been prepared on an accrual basis, except for cash flow information, and are based on the historical cost, modified where applicable and related to the valuation of certain financial assets and financial liabilities to fair value. Cannahealth and its subsidiaries, Bophelo Holdings Ltd, Bophelo Bio Science and Wellness (Pty) Ltd, and Canmart were under the common control of Halo until the acquisition by the Company had occurred. As of November 2021, shareholdings in each of the three separate entities were made consistent through the issuance of shares or the repurchase of shares for cash to the relevant shareholders (the ‘Reorganization Transactions’). As of November 2021, shareholdings in each of the four entities were identical. When the Company was formed in July 2021 with a view to ultimately acquiring Cannahealth and its subsidiaries, its majority shareholders were also consistent with each of the three existing entities. Therefore, immediately prior to the acquisition, the majority shareholder ownership of the Company and Cannahealth were demonstrated common control, and immediately after the acquisition, the shareholdings held in the Company by each individual shareholder were also identical. The Company performed an assessment and determined Bophelo Bio Science and Wellness (Pty) Ltd to be the predecessor entity to the Company, and that the corporate restructuring in which Akanda became the parent company did not have economic substance. As such, in preparing the Company’s condensed interim consolidated financial statements, the Company accounted for the acquisition in as a transaction between entities under common control combining the Company and Cannahealth from the earliest reporting date using the ‘pooling of interests method’ of accounting, where assets for the Companies that came under common control were transferred into the consolidated group at the book value on the date in which common control was achieved. In the acquisition described above, shares were issued to existing shareholders for no consideration. Therefore, the number of shares outstanding was increased without an increase in resources. The number of shares outstanding before the exchange have been adjusted for the change in shares as if the issuance had occurred at the beginning of the earliest period presented. All share and per share information presented herein has been retrospectively adjusted to give effect to the culmination of the reorganization and the issuance of shares on incorporation of Akanda on January 1, 2019. (c) The Company and its subsidiaries are measured using the currency of the primary economic environment in which each subsidiary operates — the functional currency. The Euro is the functional currency of RPK, Holigen and Cannahealth, Great British Pounds is the functional currency of Canmart and Canadian Dollars is the functional currency of 1371011 and Akanda while the United States Dollars is its reporting currency. These condensed interim consolidated financial statements are prepared and presented in United States Dollars (“USD” or “$”), which is the Company’s reporting currency. All financial information has been rounded to the nearest dollar except where indicated otherwise. (d) The preparation of condensed interim consolidated financial statements in conformity with IFRS requires management to make estimates, judgements and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, revenue and expenses during the year. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected. Areas in which management has made critical judgments in the process of applying accounting policies and that have the most significant effect on the amounts recognized in the consolidated financial statements include the determination of the Company’s and its subsidiaries’ functional currencies. Information about key assumptions and estimation uncertainties that have a significant risk of resulting in a material adjustment to the carrying amount of assets and liabilities within the next financial year is presented in the Company’s audited consolidated financial statements for the year ended December 31, 2022. | 2. (a) These consolidated financial statements, including comparatives, have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”) and interpretations issued by the International Financial Reporting Interpretations Committee (“IFRIC”). (b) These consolidated financial statements have been prepared on an accrual basis, except for cash flow information, and are based on the historical cost, modified where applicable and related to the valuation of certain financial assets and financial liabilities to fair value. Cannahealth and its subsidiaries, Bophelo Holdings Ltd, Bophelo Bio Science and Wellness (Pty) Ltd, and Canmart were under the common control of Halo until the acquisition by the Company had occurred. As of November 2021, shareholdings in each of the three separate entities were made consistent through the issuance of shares or the repurchase of shares for cash to the relevant shareholders (the ‘Reorganization Transactions’). As of November 2021, shareholdings in each of the four entities were identical. When the Company was formed in July 2021 with a view to ultimately acquiring Cannahealth and its subsidiaries, its majority shareholders were also consistent with each of the three existing entities. Therefore, immediately prior to the acquisition, the majority shareholder ownership of the Company and Cannahealth were demonstrated common control, and immediately after the acquisition, the shareholdings held in the Company by each individual shareholder were also identical. The Company performed an assessment and determined Bophelo Bio Science and Wellness (Pty) Ltd to be the predecessor entity to the Company, and that the corporate restructuring in which Akanda became the parent company did not have economic substance. As such, in preparing the Company’s consolidated financial statements, the Company accounted for the acquisition in as a transaction between entities under common control combining the Company and Cannahealth from the earliest reporting date using the ‘pooling of interests method’ of accounting, where assets for the Companies that came under common control were transferred into the consolidated group at the book value on the date in which common control was achieved. In the acquisition described above, shares were issued to existing shareholders for no consideration. Therefore, the number of shares outstanding was increased without an increase in resources. The number of shares outstanding before the exchange have been adjusted for the change in shares as if the issuance had occurred at the beginning of the earliest period presented. All share and per share information presented herein has been retrospectively adjusted to give effect to the culmination of the reorganization and the issuance of shares on incorporation of Akanda on January 1, 2019 (c) These consolidated financial statements are prepared and presented in United States Dollars (“USD” or “$”), which is the Company’s reporting currency. All financial information has been rounded to the nearest dollar except where indicated otherwise. (d) The preparation of consolidated financial statements in conformity with IFRS requires management to make estimates, judgements and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, revenue and expenses during the year. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected. Areas in which management has made critical judgments in the process of applying accounting policies and that have the most significant effect on the amounts recognized in the consolidated financial statements include the determination of the Company’s and its subsidiaries’ functional currencies. Information about key assumptions and estimation uncertainties that have a significant risk of resulting in a material adjustment to the carrying amount of assets and liabilities within the next financial year are included in the following notes to the consolidated financial statements for the years ended December 31, 2022 and 2021: • • • • • • • | 2. (a) These consolidated financial statements, including comparatives, have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”) and interpretations issued by the International Financial Reporting Interpretations Committee (“IFRIC”). (b) These consolidated financial statements have been prepared on an accrual basis except for the cash flow information and are based on the historical cost, modified where applicable and related to the valuation of certain financial assets and financial liabilities to fair value. Cannahealth and its subsidiaries, Bophelo H, Bophelo, and Canmart (as later defined) were under the common control of Halo until the acquisition by the Company had occurred. As of November 2021, shareholdings in each of the four separate entities were made consistent through the issuance of shares or the repurchase of shares for cash to the relevant shareholders (the ‘Reorganization Transactions’). As of November 2021, shareholdings in each of the four entities were identical. When the Company was formed in July 2021 with a view to ultimately acquiring Cannahealth and its subsidiaries, its majority shareholders were also consistent with each of the three existing entities. Therefore, immediately prior to the acquisition, the majority shareholder ownership of the Company and Cannahealth were demonstrated common control, and immediately after the acquisition, the shareholdings held in the Company by each individual shareholder were also identical. The Company performed an assessment and determined Bophelo Bio Science & Wellness Pty Ltd to be the predecessor entity to the Company, and that the corporate restructuring in which Akanda became the parent company did not have economic substance. As such, in preparing the Company’s consolidated financial statements, the Company accounted for the acquisition as a transaction between entities under common control combining the Company and Cannahealth from the earliest reporting date using the ‘pooling of interests method’ of accounting, where assets for the Companies that came under common control were transferred into the consolidated group at the book value on the date in which common control was achieved. In the acquisition described above, shares were issued to existing shareholders for no consideration. Therefore, the number of shares outstanding was increased without an increase in resources. Therefore, the number of shares outstanding before the exchange have been adjusted for the change in shares as if the issuance had occurred at the beginning of the earliest period presented. All share and per share information presented herein has been retrospectively adjusted to give effect to the culmination of the reorganization and the issuance of shares on incorporation of Akanda on January 1, 2019. (c) These consolidated financial statements are prepared in United States Dollars (“USD”), which is the Company’s reporting currency. All financial information has been rounded to the nearest dollar except where indicated otherwise. (d) The preparation of consolidated financial statements in conformity with IFRS requires management to make estimates, judgements and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, revenue and expenses during the period. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected. Areas in which management has made critical judgments in the process of applying accounting policies and that have the most significant effect on the amounts recognized in the consolidated financial statements include the determination of the Company’s and its subsidiaries’ functional currencies. Information about key assumptions and estimation uncertainties that have a significant risk of resulting in a material adjustment to the carrying amount of assets and liabilities within the next financial year are included in the following notes to the consolidated financial statements for the years ended December 31, 2021, 2020 and 2019: • • • • • • • |
New Standards Issued, Not Yet A
New Standards Issued, Not Yet Adopted | 6 Months Ended |
Jun. 30, 2023 | |
New Standards Issued, Not Yet Adopted [Abstract] | |
New standards issued, not yet adopted | 3. In January 2020, the IAS issued an amendment to IAS 1 Presentation of Financial Statements that clarifies the criterion for classifying a liability as non -current 1. -current 2. In October 2022, the IASB issued amendments to IAS 1 that specified how an entity assesses whether it has the right to defer settlement of a liability when that right is subject to compliance with covenants within twelve months after the reporting period. The amendment applies to annual reporting periods beginning on or after January 1, 2024 and is applied retrospectively upon adoption. The Company does not expect the amendments to have a significant impact on the condensed interim consolidated financial statements upon adoption. |
Business Combination
Business Combination | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
Business Combination [Abstract] | ||
Business Combination | 4. On April 29, 2022, the Company, through its wholly owned subsidiary, Cannahealth, acquired 100% of the Ordinary Shares of Holigen Limited (“Holigen”) and its wholly -owned RPK’s operations consist of a 20,000 square foot indoor EU GMP certified grow facility located near Sintra, Lisbon, Portugal, dedicated to the cultivation of high -THC -based -to-market The following table summarizes the acquisition -date Cash $ 2,600,000 Holdback payable 400,000 Fair value of 190,000 Common Shares of the Company 16,131,000 Total consideration $ 19,131,000 The cash purchase price of the acquisition is $3.0 million, of which $2.6 million has been paid and $400,000 as holdback payable. The holdback payable represents funds withheld until resolution of a potential liability between the vendor and a service provider, of which the Company expects resolution within the next twelve (12) months. The fair value of the 190,000 Common Shares was based on the fair value of the trading price of the Company’s Common Shares on the Nasdaq Capital Markets exchange of $84.90 per common share on April 29, 2022. Of the equity component of the purchase consideration of 190,000 Common Shares of the Company that was transferred to the Flowr Corporation, an amount of 9,635 Common Shares was directly transferred to Apolo Capital Advisory, who acted as advisors to the Flowr Corporation in respect of the transaction. The purchase of Holigen has been accounted for by the acquisition method, with the results of Holigen included in the Company’s results of operation from the date of acquisition. The purchase of Holigen was determined as being a business combination in accordance with the requirements of IFRS 3 — Business Combinations, due to the fact that the Company acquired control over Holigen on the acquisition date through the purchase of 100% of its voting securities and consequent transfer of the purchase consideration (set out in the table above) to the sellers of the Holigen, namely the Flowr Corporation. The Company incurred acquisition -related The following table summarizes the fair value of the identifiable assets and liabilities as at the date of acquisition: Cash $ 233,407 Accounts receivable 605,579 Biological assets 200,457 Inventory 904,006 Prepayments 179,597 Intangible assets 24,665,772 Property, plant and equipment, net 12,936,374 Trade and other payables (3,775,599 ) Loans and borrowing (4,058,030 ) Net assets acquired $ 31,891,563 During the year ended December 31, 2022, the Company recorded a bargain purchase gain of $12,760,356 within other income, representing the fair value of net assets acquired of $31,891,563 in excess of the fair value of consideration of $19,131,000. The fair value of the net asset acquired was determined by an independent valuer using the discounted cash flow method of valuation. From the date of acquisition, the operations of Holigen contributed a net loss of $966,426 primarily due to the fact that Holigen was substantially in a pre -revenue During the six months ended June 30, 2023, the acquired business contributed $1,268,702 (2022 — $57,516) in revenue and a net loss of $2,096,190 (2022 — $814,896). | 4. On April 29, 2022, the Company, through its wholly owned subsidiary, Cannahealth, acquired 100% of the Ordinary Shares of Holigen Limited (“Holigen”) and its wholly -owned RPK’s operations consist of a 20,000 square foot indoor EU GMP certified grow facility located near Sintra, Lisbon, Portugal, dedicated to the cultivation of high -THC -based -to-market The following table summarizes the acquisition -date Cash $ 2,600,000 Holdback payable 400,000 Fair value of 1,900,000 Common Shares of the Company 16,131,000 Total consideration $ 19,131,000 The cash purchase price of the acquisition is $3.0 million, of which $2.6 million has been paid and $400,000 as holdback payable. The holdback payable represents funds withheld until resolution of a potential liability between the vendor and a service provider, of which the Company expects resolution within the next twelve (12) months. The fair value of the 1,900,000 Common Shares was based on the fair value of the trading price of the Company’s Common Shares on the Nasdaq Capital Markets exchange of $8.49 per common share on April 29, 2022. Of the equity component of the purchase consideration of 1,900,000 Common Shares of the Company that was transferred to the Flowr Corporation, an amount of 96,354 Common Shares was directly transferred to Apolo Capital Advisory, who acted as advisors to the Flowr Corporation in respect of the transaction. The purchase of Holigen has been accounted for by the acquisition method, with the results of Holigen included in the Company’s results of operation from the date of acquisition. The purchase of Holigen was determined as being a business combination in accordance with the requirements o — IFRS 3 — Business Combinations The Company incurred acquisition -related Cash $ 233,407 Accounts receivable 605,579 Biological assets 200,457 Inventory 904,006 Prepayments 179,597 Intangible assets 24,665,772 Property, plant and equipment, net 12,936,374 Trade and other payables (3,775,599 ) Loans and borrowing (4,058,030 ) Net assets acquired $ 31,891,563 During the year ended December 31, 2022, the Company recorded a bargain purchase gain of $12,760,356 within other income, representing the fair value of net assets acquired of $31,891,563 in excess of the fair value of consideration of $19,131,000. The fair value of the net asset acquired was determined by an independent valuer using the discounted cash flow method of valuation. From the date of acquisition, the operations of Holigen contributed a net loss of $966,426 primarily due to the fact that Holigen was substantially in a pre -revenue |
Loss of Control of Bophelo Bio
Loss of Control of Bophelo Bio Science and Wellness (Pty) Ltd. | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
Loss of Control of Bophelo Bio Science and Wellness (Pty) Ltd. [Abstract] | ||
Loss of Control of Bophelo Bio Science and Wellness (Pty) Ltd. | 5. On July 26, 2022, the Company announced that the High Court of Lesotho (the “Lesotho Court”) has placed in liquidation the Company’s, wholly -owned At December 31, 2022, the Company determined that it no longer controlled Bophelo Bio Science and Wellness (Pty) Ltd. as a result of the above insolvent liquidation. As a result of the loss of control, the Company derecognized all assets and liabilities at their book values on December 31, 2022 and wrote down all balances receivable from the entity to $ nil Set out below is the financial performance and cash flow information for the years ended December 31, 2022 related to the discontinued operation: Years ended December 31, 2022 Revenue $ 31,123 Operating expenses (1,244,691 ) Other expenses (123,033 ) (1,336,601 ) Loss on loss of control of subsidiary (2,085,624 ) Loss on discontinued operations $ (3,422,225 ) Exchange differences on translation of discontinued operations $ (450,040 ) Other comprehensive income from discontinued operations $ (450,040 ) Years ended December 31, 2022 Cash flows provided by operating activities $ 1,060,350 Cash flows used in investing activities (1,003,529 ) Cash flows provided by (used in) financing activities (95,696 ) Effects of exchange rate changes on cash and cash equivalents 18,909 Net change in cash provided by (used in) the subsidiary $ (19,966 ) Carrying amount of net assets immediately prior to loss of control of subsidiary $ 2,375,840 Reclassification of foreign currency translation reserve (290,216 ) Loss on loss of control of subsidiary $ 2,085,624 As at December 31, 2022, the carrying amounts of assets and liabilities of Bophelo Bio Science and Wellness (Pty) Ltd were as follows: Cash $ 739,947 Accounts receivable 21,854 Prepayments 578,070 Property, plant and equipment 1,887,435 Right-of-use assets 1,745,205 Intangible assets 210,402 Total assets $ 5,182,913 Trade and other payables 115,120 Lease liability 2,375,590 Long-term debt 316,363 Total liabilities $ 2,807,073 Net assets $ 2,375,840 | 5. On July 26, 2022, the Company announced that the High Court of Lesotho (the “Lesotho Court”) has placed in liquidation the Company’s, wholly -owned At December 31, 2022, the Company determined that it no longer controlled Bophelo Bio Science and Wellness (Pty) Ltd. as a result of the above insolvent liquidation. As a result of the loss of control, the Company derecognized all assets and liabilities at their book values on December 31, 2022 and wrote down all balances receivable from the entity to $ nil Set out below is the financial performance and cash flow information for the years ended December 31, 2022 and 2021 related to the discontinued operation: Years ended December 31, 2022 2021 Revenue $ 31,123 $ — Operating expenses (1,244,691 ) (3,550,441 ) Other expenses (123,033 ) (2,107,053 ) (1,336,601 ) (5,657,494 ) Loss on loss of control of subsidiary (2,085,624 ) — Loss on discontinued operations $ (3,422,225 ) $ (5,657,494 ) Exchange differences on translation of discontinued operations $ (450,040 ) $ 636,135 Other comprehensive income from discontinued operations $ (450,040 ) $ 636,135 Cash flows provided by operating activities $ 1,060,350 $ 7,414,607 Cash flows used in investing activities (1,003,529 ) (570,864 ) Cash flows provided by (used in) financing activities (95,696 ) 6,832,634 Effects of exchange rate changes on cash and cash equivalents 18,909 (1,263 ) Net change in cash provided by (used in) the subsidiary $ (19,966 ) $ 9,846 Carrying amount of net assets immediately prior to loss of control of $ 2,375,840 $ — Reclassification of foreign currency translation reserve (290,216 ) — Loss on loss of control of subsidiary $ 2,085,624 $ — As at December 31, 2022, the carrying amounts of assets and liabilities of Bophelo Bio Science and Wellness (Pty) Ltd were as follows: Cash $ 739,947 Accounts receivable 21,854 Prepayments 578,070 Property, plant and equipment 1,887,435 Right-of-use assets 1,745,205 Intangible assets 210,402 Total assets $ 5,182,913 Trade and other payables 115,120 Lease liability 2,375,590 Long-term debt 316,363 Total liabilities $ 2,807,073 Net assets $ 2,375,840 |
Trade and Other Receivables
Trade and Other Receivables | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Trade and Other Receivables [Abstract] | |||
Trade and Other Receivables | 6. June 30, December 31, Trade accounts receivable $ 294,021 $ 720,085 Sales taxes receivable 19,020 91,416 Other receivables 344,527 424,118 $ 657,568 $ 1,235,619 As at June 30, 2023, there were two customers with an amount greater than 10% of the Company’s trade accounts receivable which represented 73% of the balance. As at December 31, 2022, there was one customer with an amount greater than 10% of the Company’s trade accounts receivable which represented 85% of the balance. During the year ended December 31, 2022, the Company recorded a bad debt expense of $332,715, within general and administrative expenses, as the amounts were not collectible from the customer. The Company did not recognized any bad debt expense during the six months ended June 30, 2023 and 2022. | 6. December 31, December 31, Trade accounts receivable $ 720,085 $ 29,457 Sales taxes receivable 91,416 212,900 Other receivables 424,118 — $ 1,235,619 $ 242,357 As at December 31, 2022, there was one customer with an amount greater than 10% of the Company’s trade accounts receivable which represented 85% of the balance. As at December 31, 2021, there was one customer with an amount greater than 10% of the Company’s trade accounts receivable which represented 94% of the balance. During the year ended December 31, 2022, the Company recorded a bad debt expense of $332,715 (2021 — $ nil | 4. As at December 3 2021 2020 Trade accounts receivable $ 29,457 $ — Sales taxes receivable 212,900 — $ 242,357 $ — As at December 31, 2021, there was one customer with an amount greater than 10% of the Company’s trade accounts receivable which represented 94% of the balance. The Company did not record any bad debt expense during the year ended December 31, 2021 (2020 — $ nil nil |
Inventory
Inventory | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Inventory [Abstract] | |||
Inventory | 7. The Company’s inventory as of June 30, 2023 included consumer packaging inventory and dried cannabis flower finished product at RPK in Portugal with a total carrying amount of $1,280,073 (December 31, 2022 — $1,057,240). During the six months ended June 30, 2023, inventories with a cost of $467,285 were recorded as cost of sales (2022 — $ nil During the six months ended June 30, 2023, the Company assessed the fair value of its biological assets and inventory and recognized a total of $108,239 (2022 — $33,078) as a gain on change in fair value of biological assets in the consolidated statements of loss and comprehensive loss. Biological assets Set out below is a reconciliation of the Company’s biological assets as at June 30, 2023 and December 31, 2022: As at, June 30, 2023 December 31, 2022 Balance, beginning of the period $ 809,180 $ — Acquisition (note 4) — 200,457 Gain (loss) on change in fair value of biological assets (562,045 ) 580,411 Movement in exchange rate 10,009 28,312 Balance, end of the period $ 257,144 $ 809,180 Biological assets at June 30, 2023 consisted of approximately 7,821 cannabis plants which are expected to yield approximately 225 kilograms of medical cannabis when harvested in September 2023. Biological assets at December 31, 2022 consisted of approximately 32,337 cannabis plants which are expected to yield approximately 1,068 kilograms of medical cannabis when harvested in March 2023. | 7. The Company’s inventory as of December 31, 2022 included consumer packaging inventory and dried cannabis flower finished product at RPK in Portugal with a total carrying amount of $1,057,240 (2021 — $ nil During the year ended December 31, 2022, the Company assessed the fair value of its biological assets and inventory and recognized a total of $1,216,129 (2021 — $ nil Biological assets Set out below is a reconciliation of the Company’s biological assets as at December 31, 2022 and 2021: For the years ended December 3 2022 2021 Balance, beginning of the year $ — $ — Requisition of raw materials from inventory — 202,900 Capitalized costs — 490,672 Acquisition (note 4) 200,457 — Gain (loss) on change in fair value of biological assets 580,411 (693,572 ) Movement in exchange rate 28,312 — $ 809,180 $ — Biological assets at December 31, 2022 consisted of approximately 32,337 cannabis plants which are expected to yield approximately 1,068 kilograms of medical cannabis when harvested in March 2023. Biological assets at December 31, 2021 consisted of approximately 49,269 cannabis plants which are expected to yield approximately 492.69 kilograms of medical cannabis when harvested in April 2022. Additionally, biological assets at December 31, 2021 includes 156,073 cannabis seeds. The fair value of biological assets has been assessed as nil | 5. The Company’s inventory included cannabis based products for medical use in the UK and cannabis seeds in Lesotho. The stock held in the UK had to be destroyed as they went out of date and therefore do not -off nil nil not nil nil Biological assets Set out below is a reconciliation of the Company’s biological assets as at December 31, 2021 and as at December 31, 2020: For the period ended December 2021 2020 Balance, beginning of the period $ — $ — Requisition of raw materials from inventory 202,900 — Capitalized costs 490,672 — Loss on change in fair value of biological assets (693,572 ) — $ — $ — Biological assets at December 31, 2021 consisted of approximately 49,269 cannabis plants which are expected to yield approximately 492.69 kilograms of medical cannabis when harvested in April 2022. Additionally, biological assets at December 31, 2021 includes 156,073 cannabis seeds. The fair value of biological assets has been assessed as nil |
Marketable Securities
Marketable Securities | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
Marketable Securities [Abstract] | ||
Marketable Securities | 8. During the year ended December 31, 2022, concurrent to the acquisition of Holigen (note 4), the Company subscribed for, and purchased 14,285,714 ordinary shares of The Flowr Corporation (“Flowr”) by way of a private placement for a consideration of approximately $801,160 (CDN$ 1,000,000). The subscription for the 14,285,714 ordinary shares of Flowr was a closing deliverable requirement in terms of the sale and purchase agreement between the Company and Flowr with respect to the acquisition of Holigen. Set out below is a reconciliation of the movement of the Company’s investment during the six months ended June 30, 2023 and the year ended December 31, 2022: Balance, December 31, 2021 $ — Purchase of investment 801,160 Change in fair value (516,281 ) Movement in exchange rate (21,188 ) Balance, December 31, 2022 263,691 Change in fair value 464 Movement in exchange rate 5,845 Balance, June 30, 2023 (*) $ 270,000 (*) | 8. During the year ended December 31, 2022, concurrent to the acquisition of Holigen (note 4), the Company subscribed for, and purchased 14,285,714 ordinary shares of The Flowr Corporation (“Flowr”) by way of a private placement for a consideration of approximately $801,160 (CDN$ 1,000,000). The subscription for the 14,285,714 ordinary shares of Flowr was a closing deliverable requirement in terms of the sale and purchase agreement between the Company and Flowr with respect to the acquisition of Holigen. Set out below is a reconciliation of the movement of the Company’s investment during the year ended December 31, 2022: Balance, December 31, 2021 $ — Purchase of investment 801,160 Change in fair value (516,281 ) Movement in exchange rate (21,188 ) Balance, December 31, 2022 (*) $ 263,691 ____________ (*) |
Property, Plant and Equipment
Property, Plant and Equipment | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Property, Plant and Equipment [Abstract] | |||
Property, Plant and Equipment | 9. Cost Land Plant and Leasehold Motor Computers Furniture Capital Total Balance, December 31, 2021 $ — $ 590,011 $ 1,089,694 $ 47,623 $ 10,124 $ 4,695 $ 464,253 $ 2,206,400 Acquisitions (note 4) 872,336 11,817,462 — 89,513 32,703 124,360 — 12,936,374 Additions — 108,933 66,110 10,489 13,348 3,435 108,631 310,946 Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. — (663,404 ) (1,088,572 ) (54,767 ) (14,851 ) (5,436 ) (437,117 ) (2,264,147 ) Foreign exchange movements 12,901 282,219 (67,232 ) (603 ) 1,115 2,181 (135,767 ) 94,814 Balance, December 31, 2022 885,237 12,135,221 — 92,255 42,439 129,235 — 13,284,387 Additions — — 1,490 — 408 37 — 1,935 Foreign exchange movements 15,382 255,388 40 3,270 3,443 3,168 — 280,691 Balance, June 30, 2023 $ 900,619 $ 12,390,609 $ 1,530 $ 95,525 $ 46,290 $ 132,440 $ — $ 13,567,013 Accumulated depreciation Land Plant and Leasehold Motor Computers Furniture Capital Total Balance, December 31, 2021 $ — $ 174,854 $ 108,623 $ 23,505 $ 1,206 $ 464 $ — $ 308,652 Depreciation — 972,872 — 27,883 22,942 13,490 — 1,037,187 Depreciation – Bophelo — 32,549 49,538 6,577 20,832 463 — 109,959 Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. — (195,441 ) (149,161 ) (28,357 ) (2,877 ) (876 ) — (376,712 ) Foreign exchange movements — 68,415 (9,000 ) 911 (15,759 ) 1,230 — 45,797 Balance, December 31, 2022 — 1,053,249 — 30,519 26,344 14,771 — 1,124,883 Depreciation — 771,232 149 19,594 8,629 10,656 — 810,260 Foreign exchange movements — 68,383 4 2,339 3,097 1,211 — 75,034 Balance, June 30, 2023 $ — $ 1,892,864 $ 153 $ 52,452 $ 38,070 $ 26,638 $ — $ 2,010,177 Net book value Land Plant and Leasehold Motor Computers Furniture Capital Total Balance, December 31, 2022 $ 885,237 $ 11,081,972 $ — $ 61,736 $ 16,095 $ 114,464 $ — $ 12,159,504 Balance, June 30, 2023 $ 900,619 $ 10,497,745 $ 1,377 $ 43,073 $ 8,220 $ 105,802 $ — $ 11,556,836 During the year ended December 31, 2022, the Company derecognized property, plant and equipment with a net book value of $1,887,435 in connection with the loss of control of Bophelo Bio Science and Wellness (Pty) Ltd. During the year ended December 31, 2021, the Company’s capital work in progress related to the ongoing civil, gravelling, storm drainage work on site, as well as the construction of hoop houses and a Cravo A -Frame During the six months ended June 30, 2023, the Company recorded depreciation of its property, plant and equipment of $810,260 (2022 — $372,723) of which $ nil | 9. Co st Land Plant equipment Leasehold Improvements Motor Vehicles Computers Furniture fixtures Capital progress Total Balance, December 31, 2020 $ — $ 586,360 $ 293,437 $ 36,998 $ — $ — $ 883,145 $ 1,799,940 Additions — 53,808 493,136 14,214 10,427 4,887 — 576,472 Reclassifications — — 360,695 — — — (360,695 ) — Foreign exchange movements — (50,157 ) (57,574 ) (3,589 ) (303 ) (192 ) (58,197 ) (170,012 ) Balance, December 31, 2021 $ — $ 590,011 $ 1,089,694 $ 47,623 $ 10,124 $ 4,695 $ 464,253 $ 2,206,400 Acquisitions (note 4) 872,336 11,817,462 — 89,513 32,703 124,360 — 12,936,374 Additions — 108,933 66,110 10,489 13,348 3,435 108,631 310,946 Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. — (663,404 ) (1,088,572 ) (54,767 ) (14,851 ) (5,436 ) (437,117 ) (2,264,147 ) Foreign exchange movements 12,901 282,219 (67,232 ) (603 ) 1,115 2,181 (135,767 ) 94,814 Balance, December 31, 2022 $ 885,237 $ 12,135,221 $ — $ 92,255 $ 42,439 $ 129,235 $ — $ 13,284,387 Accumulated depreciation Land Plant equipment Leasehold Improvements Motor Vehicles Computers Furniture fixtures Capital progress Total Balance, December 31, 2020 $ — $ 123,710 $ 36,324 $ 13,874 $ — $ — $ — $ 173,908 Depreciation — 63,785 78,352 11,208 1,245 483 — 155,073 Foreign exchange movements — (12,641 ) (6,053 ) (1,577 ) (39 ) (19 ) — (20,329 ) Balance, December 31, 2021 $ — $ 174,854 $ 108,623 $ 23,505 $ 1,206 $ 464 $ — $ 308,652 Depreciation — 972,872 — 27,883 22,942 13,490 — 1,037,187 Depreciation – Bophelo — 32,549 49,538 6,577 20,832 463 — 109,959 Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. — (195,441 ) (149,161 ) (28,357 ) (2,877 ) (876 ) — (376,712 ) Foreign exchange movements — 68,415 (9,000 ) 911 (15,759 ) 1,230 — 45,797 Balance, December 31, 2022 $ — $ 1,053,249 $ — $ 30,519 $ 26,344 $ 14,771 $ — $ 1,124,883 Net book value Land Plant equipment Leasehold Improvements Motor Vehicles Computers Furniture fixtures Capital progress Total Balance, December 31, 2021 $ — $ 415,157 $ 981,071 $ 24,118 $ 8,918 $ 4,231 $ 464,253 $ 1,897,748 Balance, December 31, 2022 $ 885,237 $ 11,081,972 $ — $ 61,736 $ 16,095 $ 114,464 $ — $ 12,159,504 As at December 31, 2022, the Company derecognized property, plant and equipment with a net book value of $1,887,435 in connection with the loss of control of Bophelo Bio Science and Wellness (Pty) Ltd. As at December 31, 2021, the Company’s capital work in progress related to the ongoing civil, gravelling, storm drainage work on site, as well as the construction of hoop houses and a Cravo A -Frame During the year ended December 31, 2022, the Company recorded depreciation of its property, plant and equipment of $1,147,146 (2021 — $155,073) of which $109,959 (2021 — $154,595) related to the operations of Bophelo Bio Science and Wellness (Pty) Ltd was recorded within discontinued operations. | 6. Cost Plant and equipment Leasehold Improvements Motor Vehicles Computers Furniture and fixtures Capital work-in- progress Total Balance, December 31, 2019 $ 449,044 $ 304,770 $ 38,427 $ — $ — $ 616,377 $ 1,408,618 Additions 172,369 — — — — 266,768 439,137 Write-offs (23,748 ) — — — — — (23,748 ) Foreign exchange movements (11,305 ) (11,333 ) (1,429 ) — — — (24,067 ) Balance, December 31, 2020 $ 586,360 $ 293,437 $ 36,998 $ — $ — $ 883,145 $ 1,799,940 Additions 53,808 493,136 14,214 10,427 4,887 — 576,472 Reclassifications — 360,695 — — — (360,695 ) — Foreign exchange movements (50,157 ) (57,574 ) (3,589 ) (303 ) (192 ) (58,197 ) (170,012 ) Balance, December 31, 2021 $ 590,011 $ 1,089,694 $ 47,623 $ 10,124 $ 4,695 $ 464,253 $ 2,206,400 A ccumulated depreciation Plant and equipment Leasehold Improvements Motor Vehicles Computers Furniture and fixtures Capital work-in- progress Total Balance, December 31, 2019 $ 67,113 $ 22,489 $ 4,803 $ — $ — $ — $ 94,405 Depreciation 60,212 14,950 9,425 — — — 84,587 Foreign exchange movements (3,615 ) (1,115 ) (354 ) — — — (5,084 ) Balance, December 31, 2020 $ 123,710 $ 36,324 $ 13,874 $ — $ — $ — $ 173,908 Depreciation 63,785 78,352 11,208 1,245 483 — 155,073 Foreign exchange movements (12,641 ) (6,053 ) (1,577 ) (39 ) (19 ) — (20,329 ) Balance, December 31, 2021 $ 174,854 $ 108,623 $ 23,505 $ 1,206 $ 464 $ — $ 308,652 Net book value Plant and equipment Leasehold Improvements Motor Vehicles Computers Furniture and fixtures Capital work-in- progress Total Balance, December 31, 2020 $ 462,650 $ 257,113 $ 23,124 $ — $ — $ 883,145 $ 1,626,032 Balance, December 31, 2021 $ 415,157 $ 981,071 $ 24,118 $ 8,918 $ 4,231 $ 464,253 $ 1,897,748 As at December 31, 2021 and 2020 the Company’s Capital work in progress relate to the ongoing civil, gravelling, storm drainage work on site, as well as the construction of hoop houses and a Cravo A -Frame The Company considered indicators of impairment at December 31, 2021 and 2020. The Company did not record any impairment loss during the year ended December 31, 2021 (2020 — $23,748, 2019 — nil |
Right-of-Use Assets
Right-of-Use Assets | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Right-of-Use Assets [Abstract] | |||
Right-of-use Assets | 10. On August 1, 2022, the Company entered into a lease agreement for an office space with a monthly lease payment of $20,000 over a period of two -of-use The details of the right -of-use Land lease Office lease Total Balance, December 31, 2021 $ 1,908,877 $ — $ 1,908,877 Additions — 432,335 432,335 Amortization — (88,764 ) (88,764 ) Amortization – Bophelo (55,041 ) — (55,041 ) Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. (1,745,205 ) — (1,745,205 ) Movement in exchange rates (108,631 ) (19,501 ) (128,132 ) Balance, December 31, 2022 — 324,070 324,070 Amortization — (102,840 ) (102,840 ) Movement in exchange rates — 5,412 5,412 Balance, June 30, 2023 $ — $ 226,642 $ 226,642 During the year ended December 31, 2022, the Company recorded amortization on its right -of-use -of-use -of-use | 10. On August 1, 2022, the Company entered into a lease agreement for an office space with a monthly lease payment of $20,000 over a period of two -of-use The details of the right -of-use Land lease Office lease Total Balance, December 31, 2020 $ 2,199,779 $ — $ 2,199,779 Additions — — — Amortization (115,183 ) — (115,183 ) Movement in exchange rates (175,719 ) — (175,719 ) Balance, December 31, 2021 1,908,877 — 1,908,877 Additions — 432,335 432,335 Amortization — (88,764 ) (88,764 ) Amortization – Bophelo (55,041 ) — (55,041 ) Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. (1,745,205 ) — (1,745,205 ) Movement in exchange rates (108,631 ) (19,501 ) (128,132 ) Balance, December 31, 2022 $ — $ 324,070 $ 324,070 During the year ended December 31, 2022, the Company recorded amortization on its right -of-use -of-use | 7. Land lease Balance, December 31, 2019 $ 2,409,934 Additions — Amortization (56,292 ) Movement in exchange rates (153,863 ) Balance, December 31, 2020 $ 2,199,779 Additions — Amortization (115,183 ) Movement in exchange rates (175,719 ) Balance, December 31, 2021 $ 1,908,877 |
Intangible Assets
Intangible Assets | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Intangible Assets [Abstract] | |||
Intangible Assets | 11. Cost: Software Licences Total Balance, December 31, 2021 $ — $ 389,456 $ 389,456 Acquisitions (note 4) 17,548 24,648,224 24,665,772 Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. — (350,670 ) (350,670 ) Movement in exchange rates 633 (23,521 ) (22,888 ) Balance, December 31, 2022 18,181 24,663,489 24,681,670 Movement in exchange rates 755 722 1,477 Balance, June 30, 2023 $ 18,936 $ 24,664,211 $ 24,683,147 Accumulated amortization: Software Licences Total Balance, December 31, 2021 $ — $ 130,354 $ 130,354 Amortization 7,550 2,464,822 2,472,372 Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. — (140,268 ) (140,268 ) Movement in exchange rates 704 9,914 10,618 Balance, December 31, 2022 8,254 2,464,822 2,473,076 Amortization 4,534 1,232,411 1,236,945 Movement in exchange rates 616 — 616 Balance, June 30, 2023 $ 13,404 $ 3,697,233 $ 3,710,637 Net book value Software Licences Total Balance, December 31, 2022 $ 9,927 $ 22,198,667 $ 22,208,594 Balance, June 30, 2023 $ 5,532 $ 20,966,978 $ 20,972,510 The Company’s intangible assets consists of computer software program with a carrying value of $5,532 At June 30, 2023, the remaining useful life of the Company’s finite life intangible assets is approximately 8.5 -life | 11. Cost: Software Licences Total Balance, December 31, 2020 $ — $ 422,826 $ 422,826 Movement in exchange rates — (33,370 ) (33,370 ) Balance, December 31, 2021 $ — $ 389,456 $ 389,456 Acquisitions (note 4) 17,548 24,648,224 24,665,772 Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. — (350,670 ) (350,670 ) Movement in exchange rates 633 (23,522 ) (22,889 ) Balance, December 31, 2022 $ 18,181 $ 24,663,489 $ 24,681,670 Accumulated amortization: Software Licences Total Balance, December 31, 2020 $ — $ 101,420 $ 101,420 Amortization — 38,766 38,766 Movement in exchange rates — (9,832 ) (9,832 ) Balance, December 31, 2021 $ — $ 130,354 $ 130,354 Amortization 7,550 2,464,822 2,472,372 Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. — (140,268 ) (140,268 ) Movement in exchange rates 704 9,914 10,618 Balance, December 31, 2022 $ 8,254 $ 2,464,822 $ 2,473,076 Net book value Software Licences Total Balance, December 31, 2021 $ — $ 259,102 $ 259,102 Balance, December 31, 2022 $ 9,927 $ 22,198,667 $ 22,208,594 The Company’s licenses consist of a computer program with a carrying value of $9,927 (2021 — $ nil At December 31, 2022, the remaining useful life of the Company’s finite life intangible assets is approximately 9 -life | 8. Cos Licences Balance, December 31, 2019 $ 437,911 Movement in exchange rates (15,085 ) Balance, December 31, 2020 $ 422,826 Movement in exchange rates (33,370 ) Balance, December 31, 2021 $ 389,456 Accumulated depreciatio Licences Balance, December 31, 2019 $ 63,202 Amortization 41,337 Movement in exchange rates (3,119 ) Balance, December 31, 2020 $ 101,420 Amortization 38,766 Movement in exchange rates (9,832 ) Balance, December 31, 2021 $ 130,354 Net book valu Licences Balance, December 31, 2020 $ 321,406 Balance, December 31, 2021 $ 259,102 The Company’s intangible assets consist of a cannabis operator’s license with a carrying value of $242,086 at December 31, 2021 (2020 — $304,260) and a cannabis distribution license with a carrying value of $17,016 at December 31, 2021 (2020 — $17,146). The Company considered indicators of impairment at December 31, 2021 and 2020. The Company did not record any impairment loss during the year ended December 31, 2021 (2020 — nil nil At December 31, 2021, the remaining useful life of the Company’s cannabis operator’s license is approximately 6.5 -life |
Loan Receivable
Loan Receivable | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
Loan Receivable [Abstract] | ||
Loan Receivable | 12. June 30, December 31, Loan to Cellen Life Sciences Limited $ 506,460 $ 483,588 Included in the loan receivable at June 30, 2023 is an amount of $506,460 On November 10, 2022, the Company entered into an agreement (the “Loan Restructuring Agreement”) with Cellen Life Sciences Limited and Cellen Biotech Limited (collectively referred to as “Cellen”) which entails the restructuring of the payment terms applicable to the $500,000 loan payable by Cellen to the Company pursuant to a Bridge Loan Facility Agreement previously entered into on December 2, 2021. In terms of the Loan Restructuring Agreement, Cellen shall repay the $500,000 by no later than the fourth anniversary of the Loan Restructuring Agreement, namely by November 10, 2026. The loan shall not bear interest until the 2 nd | December 31, December 31, Loan to Cellen Life Sciences Limited $ 483,588 $ — |
Lease Liability
Lease Liability | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Lease Liability [Abstract] | |||
Lease Liability | 13. Maturity Incremental borrowing rate June 30, December 31, 2022 Current 2023 10.25 % $ 225,265 $ 214,058 Non-current 2024 10.25 % 19,831 116,763 $ 245,096 $ 330,821 On August 1, 2022, the Company entered into a lease agreement for an office space with a monthly lease payment of $20,000 over a period of two The details of the lease liability recognized as at June 30, 2023 are as follows: Cost: Land Lease Office Lease Total Balance, December 31, 2021 $ 2,418,706 $ — $ 2,418,706 Present value of lease payments — 432,335 432,335 Accrued interest 103,816 17,059 120,875 Cash payments — (80,000 ) (80,000 ) Accounts payable — (20,000 ) (20,000 ) Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. (note 5) (2,375,590 ) — (2,375,590 ) Movement in exchange rates (146,932 ) (18,573 ) (165,505 ) Balance, December 31, 2022 — 330,821 330,821 Accrued interest — 15,701 15,701 Cash payments — (60,000 ) (60,000 ) Accounts payable — (60,000 ) (60,000 ) Movement in exchange rates — 18,574 18,574 Balance, June 30, 2023 $ — $ 245,096 $ 245,096 During the year ended December 31, 2022, the Company derecognized the lease liability with a net book value of $2,375,590 (2021–$2,418,706) in connection with the loss of control of Bophelo Bio & Wellness (Pty) Ltd. The Company has committed to the following undiscounted minimum lease payments remaining as at June 30, 2023: Year ended December 31: 2023 $ 120,000 2024 140,000 $ 260,000 | 13. Maturity Incremental December 31, December 31, Current 2022 10.25 % $ 214,058 $ 439,709 Non-current 2023 – 2039 10.25 % 116,763 1,978,997 $ 330,821 $ 2,418,706 On August 1, 2022, the Company entered into a lease agreement for an office space with a monthly lease payment of $20,000 over a period of two The details of the lease liability recognized as at December 31, 2022 are as follows: Cos Land Lease Office Lease Total Balance, December 31, 2021 $ 2,418,706 $ — $ 2,418,706 Present value of lease payments — 432,335 432,335 Accrued interest 103,816 17,059 120,875 Cash payments — (80,000 ) (80,000 ) Accounts payable — (20,000 ) (20,000 ) Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. (note 5) (2,375,590 ) — (2,375,590 ) Movement in exchange rates (146,932 ) (18,573 ) (165,505 ) Balance, December 31, 2022 $ — $ 330,821 $ 330,821 As at December 31, 2022, the Company derecognized the lease liability with a net book value of $2,375,590 (2021 — $2,418,706) in connection with the loss of control of Bophelo Bio & Wellness (Pty) Ltd. The Company has committed to the following undiscounted minimum lease payments remaining as at December 31, 2022: Year ended December 31 2023 $ 240,000 2024 140,000 $ 380,000 | 9. As at Maturity Incremental borrowing rate 2021 2020 Current 2022 10.25 % $ 439,709 $ 283,976 Non-current 2023 – 2039 10.25 % 1,978,997 2,598,176 $ 2,418,706 $ 2,882,152 The Company has committed to the following undiscounted minimum lease payments remaining as at December 31, 2021: Year ended December 31: 2022 $ 108,628 2023 260,708 2024 260,708 2025 260,708 2026 260,708 Thereafter 3,193,669 $ 4,345,129 |
Loans and Borrowings
Loans and Borrowings | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Loans and Borrowings [Abstract] | |||
Loans and Borrowings | 14. (a) The loans described below have been granted to the Company to fulfill its capital and operational requirements. The terms of the loans are described below: (i) -term loan #1 This is a short -term 30 nil (ii) -term loan #2 This is a short -term -to-day nil (iii) -term loan During the year ended December 31, 2021, the Company received short term loan facility of approximately $258,900 (L 4,000,000) to assist the Company in funding its day -to-day nil (b) The loans below have been granted to Holigen Ltd. and its subsidiaries in order to fund their capital and operational needs on site. (i) As at June 30, 2023, the balance of the loans from Caixa was $803,627 (December 31, 2022 — $772,955) which consisted of loans for the purpose of building construction and purchase of equipment. The repayment date on these loans are February 22, 2026 and June 5, 2026 respectively. These loans are charged with interest at the rate of 3% and are secured by mortgage of building and equipment. (ii) As at June 30, 2023, the balance of the loans from Caixa was $2,462,763 (December 31, 2022 — $2,632,103) which consisted of loans for the purpose of building construction and purchase of equipment. The repayment date on these loans are February 22, 2026 and June 5, 2026 respectively. These loans are charged with interest at the rate of 3% and are secured by mortgage of building and equipment. As at June 30, 2023, the loans balance including accrued interest, which is recorded within accounts payable, was $3,303,221 (December 31, 2022 — $3,414,582). (c) (i) On January 17, 2023, the Company received an additional loan of €45,000 ($48,666) from the same third party. The loan is unsecured and bears interest of 0.75% per day, compounding daily. The loan has matured on February 1, 2023 and is due on demand. Any unpaid amount is charged with late fees of 1% compounding interest for each day the payment is late. During the six months ended June 30, 2023, the Company recorded interest expense of $125,013 (2022 — $ nil (ii) During the six months ended June 30, 2023, the Company received additional loans of $1,118,617. These loans are unsecured and bear the same interest of 7% per annum and has no specific terms of repayment. The Company recorded interest expense of $25,092 (2022— $ nil nil | 14. (a) The loans described below have been granted to the Company to fulfill its capital and operational requirements. The terms of the loans are described below: (i) This loan is a bridge financing facility of $1,000,000 to fund capital expenditure and working capital of the Company. The loan carries a redemption premium of 100% of the capital amount borrowed. This redemption premium is triggered and becomes payable upon the successful raising of capital of not less than $18m (which must take place before October 31, 2020), or in the event of a conversion of the bridge loan to equity. This loan was repayable within 18 The security is shared with Middleton Gardens Ltd. (“Middleton”), a company registered in the British Virgin Islands with whom Bophelo had entered into a loan agreement and both Middleton and Louisa Mojela entered into an intercreditor agreement to this effect. On November 11, 2021, the loan was converted to shares in the Company’s capital (see (iv)) and as such, all accrued interest on the loan was cancelled and replaced with a 100% redemption premium. As such, and immediately prior to the conversion of the loan to equity, the principal amount of $1.1 million plus an accrued redemption premium of a further $1.1 million was payable. Accordingly, a total of $2,200,000 in debt due to Ms. Louisa Mojela was settled through an issue of 880,000 Common Shares of the Company at a price of $2.50 each, and with a total value of $2,200,000. As such, the balance owing in terms of the bridge loan at December 31, 2021 is $nil. (ii) -term loan #1 This is a short -term 30 nil (iii) -term loan #2 This is a short -term -to-day nil (iv) -term loan During the year ended December 31, 2021, the Company received short term loan facility of approximately $258,900 (L 4,000,000) to assist the Company in funding its day -to-day nil (b) The below loans have been granted to Holigen Ltd. and its subsidiaries in order to fund their capital and operational needs on site. (i) As at December 31, 2022, the balance of the loans from Caixa was $772,955 which consisted of loans for the purpose of building construction and purchase of equipment. The repayment date on these loans are February 22, 2026 and June 5, 2026 respectively. These loans are charged interest at the rate of 3% and are secured by mortgage of building and equipment. (ii) As at December 31, 2022, the balance of the loans from Caixa was $2,632,103 which consisted of loans for the purpose of building construction and purchase of equipment. The repayment date on these loans are February 22, 2026 and June 5, 2026 respectively. These loans are charged interest at the rate of 3% and are secured by mortgage of building and equipment. (c) During the year ended December 31, 2022, the Company received a loan of $30,224 (£25,000) from a third party. The loan is unsecured, non -interest | 10. (a) The loans described below have been granted to the Company to fulfill its capital and operational requirements. The terms of the loans are described below: (i) The loan is a bridge financing facility of $1 million USD to fund capital expenditure and working capital of the Company. The loan carries a redemption premium of 100% of the capital amount borrowed. This redemption premium is triggered and becomes payable upon the successful raising of capital of not less than $18m (which must take place before October 31, 2020), or in the event of a conversion of the bridge loan to equity. This loan was repayable within 18 months from the date of first drawdown (which was on or around December 1, 2019), alternatively, the repayment of the loan plus the redemption premium is payable on the successful raising of capital of not less than $18m. The loan carries interest at a rate of 1.5% per month applicable from the first draw down date. In the event that the redemption premium is triggered and payable, all interest accrued on the loan is cancelled and only the capital plus the redemption premium is then accrued and payable. The loan agreement was amended in May 2020 to cater for a further additional borrowing (on the same terms and conditions described above) to the amount of US$100,000. This resulted in a cumulative amount borrowed of $1.1 The security is shared with Middleton Gardens Ltd. (“Middleton”), a company registered in the British Virgin Islands with whom Bophelo had entered into a loan agreement and both Middleton and L Mojela entered into an intercreditor agreement to this effect. On or around November 11, 2021, the loan was converted to shares in the Company’s capital (see (iv)) and as such, all accrued interest on the loan was cancelled and replaced with a 100% redemption premium. As such, and immediately prior to the conversion of the loan to equity, the principal amount of $1.1 million plus an accrued redemption premium of a further $1.1 million was payable. Accordingly, a total of $2.2 million in debt due to Ms. Louisa Mojela was settled through an issue of 880,000 Common Shares of the Company at a price of $2.50 each, and with a total value of $2.2 million. As such, the balance owing in terms of the bridge loan at December 31, 2021 is nil (ii) -term loan #1 This is a short -term 30 (iii) -term loan #2 This is a short -term -to-day (iv) -for-debt On November 11, 2021 the Company converted the remaining balances outstanding of (i), in exchange for 880,000 (v) -term loan During the year ended December 31, 2021, the Company received short term loan facility of approximately $258,900 (L 4,000,000) to assist the Company in funding its day -to-day Nil |
Share Capital
Share Capital | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Share Capital [Abstract] | |||
Share Capital | 15. (a) The Company has authorized share capital of an unlimited number of Common Shares with no On March 9, 2023, the Company implemented a 1 -for-10 (b) Cost: Number of shares Capital Balance, December 31, 2021 2,223,131 $ 7,255,695 Issuance of shares to ASDT 86,996 2,124,615 Issuance of shares from private placement 16,200 278,481 Issuance of shares upon conversion of note 164,574 6,559,000 Issuance of shares from IPO 400,000 14,654,593 Issuance of shares in Holigen acquisition (note 4) 190,000 16,131,000 Loss of control of Bophelo Bio — (156 ) Fair value of RSUs issued at $9.70 per share 112,456 1,090,832 Fair value of RSUs issued at $8.29 per share 67,567 560,135 Fair value of RSUs issued at $7.10 per share 60,810 431,757 Fair value of RSUs issued at $2.57 per share 82,000 210,740 Fair value of RSUs issued at $2.30 per share 60,000 138,000 Balance, December 31, 2022 3,463,734 49,434,692 Fair value of RSUs issued at $1.84 per share 421,052 774,736 Fair value of RSUs issued at $1.11 per share 161,295 179,037 Cancelled shares (20,620 ) (200,014 ) Balance, June 30, 2023 4,025,461 $ 50,188,451 During the six months ended June 30, 2023, the Company had the following share capital transactions: (i) (ii) (iii) During the year ended December 31, 2022, the Company had the following share capital transactions: (i) nil (ii) (iii) (iv) (v) (vi) (vii) (viii) (ix) (x) (xi) (c) The weighted average number of Common Shares outstanding for basic and diluted loss per share for the six months ended June 30, 2023 was 4,029,293 (2022 – 2,683,544). The Company did not have any potential dilution during the six months ended June 30, 2023 and 2022. (d) In order to incentivize senior executive management and key staff, the Company makes use of equity incentives awarded pursuant to the Employee Share Ownership Plan (“ESOP”). In terms of the ESOP, the Company may award up to 20% of the Company’s issued share capital (at any point in time) in qualifying ESOP incentives. On April 22, 2022, the Company granted 248,053 restricted stock units (“RSUs”) to directors, officers, and employees of the Company, of which service cost of $561,285 was included in general and administrative expenses during the year ended December 31, 2022 (2021 — $ nil 36 On July 29, 2022, the Company granted 112,456 restricted stock units (“RSUs”) at a market price of $9.70 to consultants and directors of the Company in accordance with the Company’s RSU plan. Each of the RSUs vest immediately. The fair value of the granted RSUs was estimated to be $1,090,832. 112,456 of the granted RSUs were exercised during the year ended December 31, 2022. On August 11, 2022, the Company granted 20,620 restricted stock units (“RSUs”) at a market price of $10.30 to directors of the Company in accordance with the Company’s RSU plan. Each of the RSUs vest three days following the release of Q2 2022 financials. The fair value of the granted RSUs was estimated to be $212,386. On August 18, 2022, the Company granted 67,567 restricted stock units (“RSUs”) at a market price of $8.30 to consultants of the Company in accordance with the Company’s RSU plan. Each of the RSUs vest immediately. The fair value of the granted RSUs was estimated to be $560,135. 67,567 of the granted RSUs were exercised during the year ended December 31, 2022. On September 6, 2022, the Company granted 60,810 restricted stock units (“RSUs”) at a market price of $7.10 to a consultant of the Company in accordance with the Company’s RSU plan. Each of the RSUs vest immediately. The fair value of the granted RSUs was estimated to be $431,757. 60,810 of the granted RSUs were exercised during the year ended December 31, 2022. On September 21, 2022, the Company granted 98,896 restricted stock units (“RSUs”) at a market price of $6.10 to directors, officers, and consultants of the Company in accordance with the Company’s RSU plan. Each of the RSUs vest immediately. The fair value of the granted RSUs was estimated to be $598,321. On September 22, 2022, the Company granted 30,000 restricted stock units (“RSUs”) at a market price of $5.60 to an officer of the Company in accordance with the Company’s RSU plan. Each of the RSUs vest immediately. The fair value of the granted RSUs was estimated to be $168,000. On October 28, 2022, the Company granted 82,000 restricted stock units (“RSUs”) at a market price of $2.60 to directors and officers of the Company in accordance with the Company’s RSU plan. Each of the RSUs vest immediately. The fair value of the granted RSUs was estimated to be $210,740. 82,000 of the granted RSUs were exercised during the year ended December 31, 2022. On November 21, 2022, the Company granted 60,000 restricted stock units (“RSUs”) at a market price of $2.30 to a consultant of the Company in accordance with the Company’s RSU plan. Each of the RSUs vest immediately. The fair value of the granted RSUs was estimated to be $138,000. 60,000 of the granted RSUs were exercised during the year ended December 31, 2022. On January 24, 2023, the Company granted 421,052 restricted stock units (“RSUs”) at a market price of $1.84 to consultants of the Company in accordance with the Company’s RSU plan. Each of the RSUs vest immediately. The fair value of the granted RSUs was estimated to be $774,736. 421,052 of the granted RSUs were exercised during the six months ended June 30, 2023. On May 2, 2023, the Company granted 637,254 restricted stock units (“RSUs”) at a market price of $1.11 to consultants of the Company in accordance with the Company’s RSU plan. Each of the RSUs vest immediately. The fair value of the granted RSUs was estimated to be $707,352. 475,959 of the granted RSUs were cancelled and 161,295 were exercised during the six months ended June 30, 2023. A summary of the Company’s outstanding RSUs as at June 30, 2023 are as follows: Number of Balance, December 31, 2021 — Granted 780,400 Exercised (382,835 ) Balance, December 31, 2022 397,565 Granted 1,058,306 Cancelled (475,959 ) Exercised (582,347 ) Balance, June 30, 2023 397,565 During the six months ended June 30, 2023, the Company recorded $1,695,753 (2022 — $ nil | 15. (a) The Company has authorized share capital of an unlimited amount of Common Shares with no (b) Co Number of Capital Balance, December 31, 2020 13,129,212 $ 1,636 Shares issued to founders 5,626,806 1 Seed subscription 468,900 250,000 Private Placement 2,126,400 4,804,058 Settlement of Bridge Loan 880,000 2,200,000 Balance, December 31, 2021 22,231,318 $ 7,255,695 Issuance of shares to ASDT 869,963 2,124,615 Issuance of shares from private placement 162,000 278,481 Issuance of shares upon conversion of note 1,645,745 6,559,000 Issuance of shares from IPO 4,000,000 14,654,593 Issuance of shares in Holigen acquisition (note 4) 1,900,000 16,131,000 Loss of control of Bophelo Bio — (156 ) Fair value of RSU’s issued at $0.97 per share 1,124,569 1,090,832 Fair value of RSU’s issued at $0.83 per share 675,676 560,135 Fair value of RSU’s issued at $0.71 per share 608,108 431,757 Fair value of RSU’s issued at $0.26 per share 820,000 210,740 Fair value of RSU’s issued at $0.23 per share 600,000 138,000 Balance, December 31, 2022 34,637,379 $ 49,434,692 Shares issued and outstanding are as follows: (i) (ii) (iii) (iv) (v) (vi) (vii) nil (viii) (ix) (x) (xi) (xii) (xiii) (xiv) (xv) (xvi) (xvii) (c) The weighted average number of Common Shares outstanding for basic and diluted loss per share for the year ended December 31, 2022 was 29,930,094 (2021 — 16,223,996). The Company did not have any potential dilution during the years ended December 31, 2022 and 2021. (d) In order to incentivize senior executive management and key staff, the Company makes use of equity incentives awarded pursuant to the Employee Share Ownership Plan (“ESOP”). In terms of the ESOP, the Company may award up to 20% of the Company’s issued share capital (at any point in time) in qualifying ESOP incentives. On April 22, 2022, the Company granted 2,480,532 restricted stock units (“RSUs”) to directors, officers, and employees of the Company, of which service cost of $561,285 was included in general and administrative expenses during the year ended December 31, 2022 (2021 — $ nil 36 On July 29, 2022, the Company granted 1,124,569 restricted stock units (“RSUs”) at a market price of $0.97 to consultants and directors of the Company in accordance with the Company’s RSU plan. Each of the RSUs vest immediately. The fair value of the granted RSUs was estimated to be $1,090,832. 1,124,569 of the granted RSUs were exercised during the year ended December 31, 2022. On August 11, 2022, the Company granted 206,200 restricted stock units (“RSUs”) at a market price of $1.03 to directors of the Company in accordance with the Company’s RSU plan. Each of the RSUs vest three days following the release of Q2 2022 financials. The fair value of the granted RSUs was estimated to be $212,386. On August 18, 2022, the Company granted 675,676 restricted stock units (“RSUs”) at a market price of $0.83 to consultants of the Company in accordance with the Company’s RSU plan. Each of the RSUs vest immediately. The fair value of the granted RSUs was estimated to be $560,135. 675,676 of the granted RSUs were exercised during the year ended December 31, 2022. On September 6, 2022, the Company granted 608,108 restricted stock units (“RSUs”) at a market price of $0.71 to a consultant of the Company in accordance with the Company’s RSU plan. Each of the RSUs vest immediately. The fair value of the granted RSUs was estimated to be $431,757. 608,108 of the granted RSUs were exercised during the year ended December 31, 2022. On September 21, 2022, the Company granted 988,961 restricted stock units (“RSUs”) at a market price of $0.61 to directors, officers, and consultants of the Company in accordance with the Company’s RSU plan. Each of the RSUs vest immediately. The fair value of the granted RSUs was estimated to be $598,321. On September 22, 2022, the Company granted 300,000 restricted stock units (“RSUs”) at a market price of $0.56 to an officer of the Company in accordance with the Company’s RSU plan. Each of the RSUs vest immediately. The fair value of the granted RSUs was estimated to be $168,000. On October 28, 2022, the Company granted 820,000 restricted stock units (“RSUs”) at a market price of $0.26 to directors and officers of the Company in accordance with the Company’s RSU plan. Each of the RSUs vest immediately. The fair value of the granted RSUs was estimated to be $210,740. 820,000 of the granted RSUs were exercised during the year ended December 31, 2022. On November 21, 2022, the Company granted 600,000 restricted stock units (“RSUs”) at a market price of $0.23 to a consultant of the Company in accordance with the Company’s RSU plan. Each of the RSUs vest immediately. The fair value of the granted RSUs was estimated to be $138,000. 600,000 of the granted RSUs were exercised during the year ended December 31, 2022. A summary of the Company’s outstanding RSUs as at December 31, 2022 are as follows: Number of RSUs Balance, December 31, 2021 — Granted 7,804,046 Exercised (3,828,353 ) Balance, December 31, 2022 3,975,693 During the year ended December 31, 2022, the Company recorded $2,431,464 (2021 — $ nil | 11. (a) The Company has authorized share capital of an unlimited amount of Common Shares with no (b) Shares issued and outstanding are as follows: Cost: Number of Capital Balance, December 31, 2019 13,129,212 $ 1,636 Balance, December 31, 2020 13,129,212 1,636 Shares issued to founders 5,626,806 1 Seed subscription 468,900 250,000 Private Placement 2,126,400 4,804,058 Settlement of Bridge Loan 880,000 2,200,000 Balance, December 31, 2021 22,231,318 $ 7,255,695 i. ii. iii. iv. v. vi. (c) The weighted average number of Common Shares outstanding for basic and diluted earnings per share for the year ended December 31, 2021 was 16,223,996. The weighted average number of ordinary shares outstanding for basic and diluted earnings per share for the years ended December 31, 2020 and 2019 was 13,129,212, adjusted for the same amount issued for the acquisition of Cannahealth. The Company did not have any potential dilution at December 31, 2021, 2020, or 2019. |
Related Party Transactions
Related Party Transactions | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Related Party Transactions [Abstract] | |||
Related Party Transactions | 16. Secured convertible debenture On November 3, 2021 (the “Issuance Date”), the Company entered into an agreement with Halo in which the Company issued Halo a secured convertible debenture with an initial value of $6,559,294. The notes were convertible into Common Shares of the Company’s capital receiving the number of shares, at its current market price, required to satisfy the principal and interest payable. The obligation to convert the note within six Transactions with Key Management Personnel The Company has identified its Board of Directors, Executive Chairman, Chief Executive Officer (“CEO”), Chief Operating Officer (“COO”), Chief Financial Officer (“CFO”) and its President as its key management personnel who have the authority and responsibility for planning, directing and controlling the Company’s main activities. For the six months ended June 30, 2023 2022 Key Management Remuneration $ 299,382 $ 1,079,324 Stock-based compensation — 487,885 $ 299,382 $ 1,567,209 The Key Management remuneration is included in Professional and Consulting fees and Personnel Expenses in the Statement of Operations. As of June 30, 2023, the Company has balances payable to related parties of $811,905 (December 31, 2022 — $679,617) as below: a. — • i. — nil ii. nil iii. — nil iv. — nil • i. — ii. — iii. — iv. -Schenkl — v. vi. — vii. — viii. — ix. — x. — xi. — The Company’s related party transactions are measured at the exchange amount which is the amount of consideration established and agreed to by the related parties. | 16. Secured convertible debenture On November 3, 2021 (the “Issuance Date”), the Company entered into an agreement with Halo in which the Company issued Halo a secured convertible debenture with an initial value of $6,559,294. The notes were convertible into Common Shares of the Company’s capital receiving the number of shares, at its current market price, required to satisfy the principal and interest payable. The obligation to convert the note within six amalgamation, arrangement, merger, reverse takeover, reorganization or similar event; (c) a sale or conveyance of all or substantially all of the property and assets of the Company to any arm’s length third party for consideration consisting of free trading securities and the subsequent distribution of all of such consideration to all of the holders of Common Shares, on a pro rata basis; (d) the sale or exchange of all or substantially all of shares of the Borrower for free trading securities. The debt bears interest at one percent per annum, matures on November 3, 2022 and is secured by all of the assets of the Company other than the interests in the securities of Bophelo Bio Science and Wellness (Pty) Ltd. and ranks ahead of all other debt issued by the Company. On March 15, 2022, upon completion of the Company’s initial public offering the Company issued 1,645,745 Common Shares to Halo Collective, Inc. (“Halo”) at a price of $4 each to settle the principal amount of $6,559,294 plus accrued interest $23,686 owing to Halo in terms of a convertible debenture agreement, which totaled $6,582,980 at the time of conversion (see note 15(b)(ix)). Transactions with Key Management Personnel The Company has identified its Board of Directors, Executive Chairman, Chief Executive Officer (“CEO”), Chief Operating Officer (“COO”), Chief Financial Officer (“CFO”) and its President as its key management personnel who have the authority and responsibility for planning, directing and controlling the Company’s main activities. For the years ended December 31, 2022 2021 Key Management Remuneration $ 3,572,602 $ 1,148,206 Stock-based compensation 898,640 — Short term accommodation expense — 69,521 $ 4,471,242 $ 1,217,727 The Key Management remuneration is included in Professional and Consulting fees in the Statement of Operations. During the year ended December 31, 2021, the Company incurred expenditures of $69,521 associated with rental of short -term As of December 31, 2022, the Company has balances payable to related parties of $679,617 (2021 — a. b. i. ii. nil iii. nil iv. -Schenkl nil v. vi. nil vii. viii. nil ix. nil x. nil xi. nil xii. nil xiii. nil c. nil d. The Company’s related party transactions are measured at the exchange amount which is the amount of consideration established and agreed to by the related parties. | 13. Secured convertible debenture On November 3, 2021 (the “Issuance Date”), the Company entered into an agreement with Halo in which the Company issued Halo a secured convertible debenture with an initial value of $6,559,294. The balance payable of the secured convertible debenture is $6,716,190 as at December 31, 2021 which included additional loan owed to Halo for November and December 2021as well as an interest of $10,423. The notes are convertible into Common Shares of the Company’s capital receiving the number of shares, at its current market price, required to satisfy the principal and interest payable. The obligation to convert the note within six Transactions with Key Management Personnel The Company has identified its Board of Directors, Executive Chairman, Chief Executive Officer (“CEO”) and Chief Financial Officer (“CFO”) and its President as its key management personnel who have the authority and responsibility for planning, directing and controlling the Company’s main activities. For the years ended December 2021 2020 2019 Key Management Remuneration 1,148,206 259,035 116,481 Director Professional fees — 121,467 121,970 Short term accommodation expense 69,521 45,482 26,264 1,217,727 425,984 264,715 The Key Management remuneration is included in the Personnel expenses as well as the Professional and Consulting fees in the Statement of Operations. The Director’s professional fees incurred during the years December 31, 2020 and December 31, 2019 were related to the services provided by a director of Bophelo Bio Science & Wellness Pty Ltd. that was over and above the regular remuneration paid to the directors. During the year ended December 31, 2021, the Company incurred expenditures of $69,521 (2020 — $45,482; 2019 — $26,264) associated with rental of short -term During the year ended December 31, 2020, the Company incurred professional services expense of $121,467 (2019 — $121,970) associated with services provided by a director of the Company that was not a result of the regular remuneration paid to the Company’s directors. As of December 31, 2021, the Company has balances payable to related parties of $9,601,708 (2020 — $9,225,650) as below: a. — b. — c. d. — The Company’s related party transactions are measured at the exchange amount which is the amount of consideration established and agreed to by the related parties. |
Financial Instruments
Financial Instruments | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Financial Instruments [Abstract] | |||
Financial Instruments | 17. Determination of Fair Values IFRS 13, Fair Value Measurement Level 1 — Quoted prices in active markets for identical assets or liabilities; Level 2 — Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable; Level 3 — Unobservable inputs in which little or no market activity exists, therefore requiring an entity to develop its own assumptions about the assumptions market participants would use in pricing. A number of the Company’s accounting policies and disclosures require the determination of fair value, for both financial and non -financial The following is a comparison by class of the carrying amounts and fair value of the Company’s financial instruments as at June 30, 2023 and December 31, 2022: June 30, 2023 December 31, 2022 Level Carrying amount Fair value Carrying amount Fair value Financial assets Financial assets measured at amortised cost: Cash and cash held in trust 1 443,338 443,338 228,794 228,794 Marketable securities 1 270,000 270,000 263,691 263,691 Trade and other receivables 2 657,568 657,568 1,235,619 1,235,619 Loan receivable 2 506,460 506,460 483,588 483,588 Financial liabilities Financial liabilities measure at amortised cost: Trade and other payables 2 8,460,194 8,460,194 7,139,817 7,139,817 Loans and borrowings 2 4,941,318 4,941,318 3,568,896 3,568,896 Holdback payable 2 400,000 400,000 377,465 377,465 Lease liabilities 2 245,096 245,096 330,821 330,821 Due to related party 2 811,905 811,905 679,617 679,617 | 18. Determination of Fair Values IFRS Fair Value Measurement Level 1 — Quoted prices in active markets for identical assets or liabilities; Level 2 — Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable; Level 3 — Unobservable inputs in which little or no market activity exists, therefore requiring an entity to develop its own assumptions about the assumptions market participants would use in pricing. A number of the Company’s accounting policies and disclosures require the determination of fair value, for both financial and non -financial The following is a comparison by class of the carrying amounts and fair value of the Company’s financial instruments as at December 31, 2022 and 2021: Level 2022 2021 Carrying amount Fair Carrying amount Fair Financial assets Financial assets measured at amortised cost: Cash and cash held in trust 1 228,794 228,794 3,495,390 3,495,390 Marketable securities 1 263,691 263,691 — — Trade and other receivables 2 1,235,619 1,235,619 242,357 242,357 Loan receivable 2 483,588 483,588 — — Financial liabilities Financial liabilities measure at amortised cost: Trade and other payables 2 7,139,817 7,139,817 680,328 680,328 Loans and borrowings 2 3,568,896 3,568,896 432,201 432,201 Holdback payable 2 377,465 377,465 — — Lease liabilities 2 330,821 330,821 2,418,706 2,418,706 Due to related party 2 679,617 679,617 — — Secured convertible debenture 2 — — 6,716,190 6,716,190 | 14. The following is a comparison by class of the carrying amounts and fair value of the Company’s financial instruments as at December 31, 2021 and 2020: 2021 2020 As Level Carrying amount Fair Carrying amount Fair Financial asset Financial assets measured at amortized cost: Cash 1 $ 3,495,390 3,495,390 $ 13,504 13,504 Trade and other receivables 2 242,357 242,357 — — Financial liabilitie Financial assets measured at amortized cost: Trade and other payables 2 $ 680,328 680,328 $ 183,895 183,895 Loans and borrowings 2 432,201 432,210 6,240,713 6,240,713 Lease liabilities 2 2,418,706 2,418,706 2,882,152 2,882,152 Secured convertible debenture 2 6,716,190 6,716,190 — — The Company has determined the estimated fair values of its financial instruments based on appropriate valuation techniques. The carrying values of current monetary assets and liabilities approximate their fair values due to their relatively short periods to maturity. |
Risks Arising from Financial In
Risks Arising from Financial Instruments and Risk Management | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Risks Arising from Financial Instruments and Risk Management [Abstract] | |||
Risks Arising from Financial Instruments and Risk Management | 18. The Company’s activities expose it to a variety of financial risks: market risk (including foreign exchange and interest rate risks), credit risk and liquidity risk. Risk management is the responsibility of the Company, which identifies, evaluates and, where appropriate, mitigates financial risks. (a) Foreign exchange risk: is the risk that the fair value of future cash flows for financial instruments will fluctuate because of changes in foreign exchange rates. The Company has not entered into any foreign exchange hedging contracts. The Company is exposed to currency risk from the British Pound (“GBP”), Euro (“EUR”) and Canadian dollar (“CAD”) through the following foreign currency denominated financial assets and liabilities: As at (expressed in GBP) June 30, December 31, 2022 Financial assets Cash and cash held in trust £ 8,155 £ 75,315 Trade and other receivables 86,020 149,223 Loan receivable 400,000 400,000 £ 494,175 £ 624,538 Financial liabilities Trade and other payables £ 929,526 £ 923,725 Loans and borrowings 31,514 25,000 £ 961,040 £ 948,725 As at (expressed in EUR) June 30, December 31, 2022 Financial assets Cash € 360,742 € 42,664 Trade and other receivables 504,075 986,320 € 864,817 € 1,028,984 Financial liabilities Trade and other payables € 3,602,806 € 3,201,180 Loans and borrowings 3,170,873 3,307,633 € 6,773,679 € 6,508,813 As at (expressed in CAD) June 30, December 31, 2022 Financial assets Cash $ 53,475 $ 140,423 Marketable securities 357,768 357,143 $ 411,243 $ 497,566 Financial liabilities Trade and other payables $ 4,547,627 $ 3,629,380 Due to related party 982,859 810,206 Holdback payable 511,238 511,238 Lease liabilities 324,768 448,064 Loans and borrowings 1,921,491 — $ 8,287,983 $ 5,398,888 Based on the above net exposures as at June 30, 2023, assuming that all other variables remain constant, a 5% appreciation or deterioration of the USD against the GBP would result in a corresponding increase or decrease, respectively on the Company’s net income of approximately $18,000 (December 31, 2022 — $13,000), EUR — $271,000 (December 31, 2022 — $256,000) and CAD — $297,000 (December 31, 2022 — $181,000). (b) Credit risk is the risk of financial loss to the Company if a partner or counterparty to a financial instrument fails to meet its contractual obligation and arises principally from the Company’s cash and accounts receivable. The carrying amounts of the financial assets represents the maximum credit exposure. The Company limits its exposure to credit risk on cash by placing these financial instruments with high -credit At June 30, 2023, the Company was subject to a concentration of credit risk related to its accounts receivable as 62% (December 31, 2022 — 85% from one customer) of the balance of amounts owing is from one customer. The Company did not record any bad debt expense during the six months ended June 30, 2023 and 2022. As at June 30, 2023 and December 31, 2022, the expected credit lifetime credit losses for accounts receivable aged as current were nominal amounts. The Company considers a financial asset in default when internal or external information indicates that the Company is unlikely to receive the outstanding contractual amounts in full. A financial asset is written off when there is no reasonable expectation of recovering the contractual cash flows. (c) Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they come due. The Company manages its liquidity risk by continuously monitoring forecasted and actual cash flows, as well as anticipated investing and financing activities and to ensure that it will have sufficient liquidity to meet its liabilities and commitments when due and to fund future operations. The Company’s trade and other payables are due within the current operating year. | 19. The Company’s activities expose it to a variety of financial risks: market risk (including foreign exchange and interest rate risks), credit risk and liquidity risk. Risk management is the responsibility of the Company, which identifies, evaluates and, where appropriate, mitigates financial risks. (a) Foreign exchange risk: is the risk that the fair value of future cash flows for financial instruments will fluctuate because of changes in foreign exchange rates. The Company has not entered into any foreign exchange hedging contracts. The Company is exposed to currency risk from the British Pound (“GBP”), Euro (“EUR”), Lesotho Loti (“LSL”) and Canadian dollar (“CAD”) through the following foreign currency denominated financial assets and liabilities: As at December 31 (expressed in GB 2022 2021 Financial assets Cash and cash held in trust £ 75,315 £ 2,577,674 Trade and other receivables 149,223 30,983 Loan receivable 400,000 — £ 624,538 £ 2,608,657 Financial liabilities Trade and other payables £ 923,725 £ 239,763 Loans and borrowings 25,000 — £ 948,725 £ 239,763 As at December 31 (expressed in EU 2022 2021 Financial assets Cash € 42,664 € — Trade and other receivables 986,320 — 1,028,984 € — Financial liabilities Trade and other payables € 3,201,180 € — Loans and borrowings 3,307,633 — € 6,508,813 € — As at December 31 (expressed in CA 2022 2021 Financial assets Cash $ 140,423 $ 255,880 Marketable securities 357,143 — $ 497,566 $ 255,880 Financial liabilities Trade and other payables $ 3,629,380 $ 234,711 Due to related party 810,206 — Holdback payable 511,238 — Lease liabilities 448,064 — $ 5,398,888 $ 234,711 As at December 31 (expressed in LS 2022 2021 Financial assets Cash L L L L Financial liabilities Lease liabilities L L Loans and borrowings — 7,846,551 L L Based on the above net exposures as at December 31, 2022, assuming that all other variables remain constant, a 5% appreciation or deterioration of the USD against the GBP would result in a corresponding increase or decrease, respectively on the Company’s net income of approximately $13,000 (2021 — $161,000), EUR — $256,000 (2021 — $ nil nil (b) Credit risk is the risk of financial loss to the Company if a partner or counterparty to a financial instrument fails to meet its contractual obligation and arises principally from the Company’s cash and accounts receivable. The carrying amounts of the financial assets represents the maximum credit exposure. The Company limits its exposure to credit risk on cash by placing these financial instruments with high -credit At December 31, 2022, the Company was subject to a concentration of credit risk related to its accounts receivable as 85% (2021 — 94% from one customer) of the balance of amounts owing is from one customer. As at December 31, 2022, the Company recorded a bad debt expense of $332,715 (2021 — $ nil (c) Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they come due. The Company manages its liquidity risk by continuously monitoring forecasted and actual cash flows, as well as anticipated investing and financing activities and to ensure that it will have sufficient liquidity to meet its liabilities and commitments when due and to fund future operations. The Company’s trade and other payables are due within the current operating year. | 15. The Company’s activities expose it to a variety of financial risks: market risk (including foreign exchange and interest rate risks), credit risk and liquidity risk. Risk management is the responsibility of the Company, which identifies, evaluates and, where appropriate, mitigates financial risks. (a) Foreign exchange risk: is the risk that the fair value of future cash flows for financial instruments will fluctuate because of changes in foreign exchange rates. The Company has not entered into any foreign exchange hedging contracts. The Company is exposed to currency risk from the British Pound (“GBP”), Lesotho Loti (“LSL”) and Canadian dollar (“CAD”) through the following foreign currency denominated financial assets and liabilities: As at December 31 (expressed in GB 2021 2020 Financial assets Cash £ 2,577,674 £ — Trade and other receivables 30,983 344 £ 2,608,657 £ — Financial liabilities Trade and other payables £ 239,763 £ £ 239,763 £ As at December 31 (expressed in CA 2021 2020 Financial assets Trade and other receivables $ 255,880 $ — $ 255,880 $ — Financial liabilities Trade and other payables $ 234,711 $ — $ 234,711 $ — As at December 31 (expressed in LS 2021 2020 Financial assets Cash L L Trade and other receivables L L Financial liabilities Lease liabilities L L Loans and borrowings 7,846,551 — L L Based on the above net exposures as at December 31, 2021, assuming that all other variables remain constant, a 5% appreciation or deterioration of the USD against the GBP would result in a corresponding increase or decrease, respectively on the Company’s net income of approximately $161,000 (2020 — nil nil (b) Credit risk is the risk of financial loss to the Company if a partner or counterparty to a financial instrument fails to meet its contractual obligation and arises principally from the Company’s cash and accounts receivable. The carrying amounts of the financial assets represents the maximum credit exposure. The Company limits its exposure to credit risk on cash by placing these financial instruments with high -credit At December 31, 2021 the Company was subject to a concentration of credit risk related to its accounts receivable as 94% of the balance of amounts owing is from one customer. As at December 31, 2021, none of the outstanding accounts receivable were outside of the normal payment terms and the Company did not record any bad debt expenses during the years ended December 31, 2021, December 31, 2020 and December 31, 2019. As at December 31, 2021 and 2020, the expected credit lifetime credit losses for accounts receivable aged as current were nominal amounts. The Company considers a financial asset in default when internal or external information indicates that the Company is unlikely to receive the outstanding contractual amounts in full. A financial asset is written off when there is no reasonable expectation of recovering the contractual cash flows. (c) Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they come due. The Company manages its liquidity risk by continuously monitoring forecasted and actual cash flows, as well as anticipated investing and financing activities and to ensure that it will have sufficient liquidity to meet its liabilities and commitments when due and to fund future operations. The Company’s trade and other payables are due within the current operating period. |
Capital Management
Capital Management | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Capital Management [Abstract] | |||
Capital Management | 19. The Company manages its capital structure and makes adjustments to it, based on the funds available to the Company, in order to continue the business of the Company. The Company, upon approval from its Board of Directors, will balance its overall capital structure through new share and warrant issuances, granting of stock options, the issuance of debt or by undertaking other activities as deemed appropriate under the specific circumstance. The Board of Directors does not establish a quantitative return on capital criteria for management, but rather relies on the expertise of the Company’s management to sustain future development of the business. The Company’s objectives when managing capital are to safeguard the Company’s ability to continue as a going concern and to provide capital to pursue the development and commercialization of its products. In the management of capital, the Company includes cash, long -term At the current stage of the Company’s development, in order to maximize its current business activities, the Company does not pay out dividends. Management reviews its capital management approach on an ongoing basis and believes that this approach, given the relative size of the Company, is reasonable. The Company’s overall strategy with respect to capital risk management remains unchanged for the six months ended June 30, 2023 and the year ended December 31, 2022. | 20. The Company manages its capital structure and makes adjustments to it, based on the funds available to the Company, in order to continue the business of the Company. The Company, upon approval from its Board of Directors, will balance its overall capital structure through new share and warrant issuances, granting of stock options, the issuance of debt or by undertaking other activities as deemed appropriate under the specific circumstance. The Board of Directors does not establish a quantitative return on capital criteria for management, but rather relies on the expertise of the Company’s management to sustain future development of the business. The Company’s objectives when managing capital are to safeguard the Company’s ability to continue as a going concern and to provide capital to pursue the development and commercialization of its products. In the management of capital, the Company includes cash, long -term At the current stage of the Company’s development, in order to maximize its current business activities, the Company does not pay out dividends. Management reviews its capital management approach on an ongoing basis and believes that this approach, given the relative size of the Company, is reasonable. The Company’s overall strategy with respect to capital risk management remains unchanged for the years ended December 31, 2022 and 2021. | 16. The Company manages its capital structure and makes adjustments to it, based on the funds available to the Company, in order to continue the business of the Company. The Company, upon approval from its Board of Directors, will balance its overall capital structure through new share and warrant issuances, granting of stock options, the issuance of debt or by undertaking other activities as deemed appropriate under the specific circumstance. The Board of Directors does not establish a quantitative return on capital criteria for management, but rather relies on the expertise of the Company’s management to sustain future development of the business. The Company’s objectives when managing capital are to safeguard the Company’s ability to continue as a going concern and to provide capital to pursue the development and commercialization of its products. In the management of capital, the Company includes cash, long -term At the current stage of the Company’s development, in order to maximize its current business activities, the Company does not pay out dividends. Management reviews its capital management approach on an ongoing basis and believes that this approach, given the relative size of the Company, is reasonable. The Company’s overall strategy with respect to capital risk management remains unchanged for the year ended December 31, 2021. |
Segmented Information
Segmented Information | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Segmented Information [Abstract] | |||
Segmented Information | 20. The Company has three reportable segments: Cultivation, Distribution & Corporate. Cultivating activities which comprise the “cultivation” segment are made up of the medical cannabis cultivation operations at RPK/Holigen in Portugal, and medical cannabis cultivation activities which were undertaken at Bophelo Bio Science & Wellness (Pty) Ltd. in Lesotho up until the loss of control event which occurred in July 2022 when the liquidation of Bophelo Bio Science and Wellness (Pty) Ltd was ordered by the High Court of Lesotho (refer to note 5). Distributing activities relate to the distribution of medical cannabis by Canmart Ltd in the United Kingdom. Corporate activities entail head office costs and other general corporate expenses related to the administration of the broader group. The accounting policies of the operating segments are the same as those described in the summary of significant accounting policies. The reportable segments have been determined by management on the basis that these are strategic business units that offer different products and services. The business units in Portugal and Lesotho (up until the loss of control event described in note 5) which fall under the cultivation segment are focused on the cultivation of medical cannabis and medical cannabis biomass respectively, while the business unit in the United Kingdom, which falls under the distribution segment, undertakes the sale and distribution of medical cannabis products. The corporate segment undertakes management and treasury services within the group and for the benefit of all group companies. They are managed separately as each business unit requires different strategies, risk management and technologies. Set out below is information about the assets and liabilities as at June 30, 2023 and December 31, 2022 and profit or loss from each segment for the six months ended June 30, 2023 and 2022: As at June 30, 2023 Financial statement line item: Cultivation Distribution Corporate Total Reportable segment assets $ 35,060,640 $ 706,704 $ 740,212 $ 36,507,556 Reportable segment liabilities 7,375,430 1,214,129 6,268,954 14,858,513 As at December 31, 2022 Financial statement line item: Cultivation Distribution Corporate Total Reportable segment assets $ 37,392,401 $ 819,376 $ 785,000 $ 38,996,777 Reportable segment liabilities 6,961,243 1,146,980 3,988,393 12,096,616 For the six months ended June 30, 2023 Financial statement line item: Cultivation Distribution Corporate Total Revenues from external customers $ 1,268,702 $ 128,741 $ — $ 1,397,443 Intersegment revenues — — — — Other income 107,110 8,974 51,659 167,743 Finance income — 20 — 20 Finance expense (175,616 ) (8,033 ) (40,809 ) (224,458 ) Depreciation & amortization 2,045,307 1,898 102,840 2,150,045 Discontinued operations — — — — Reportable segment loss (3,223,676 ) (337,238 ) (2,316,968 ) (5,877,882 ) For the six months ended June 30, 2022 Financial statement line item: Cultivation Distribution Corporate Total Revenues from external customers $ 57,516 $ 15,580 $ — $ 73,096 Intersegment revenues — — — — Other income (expense) 12,760,356 (6,600 ) (646,494 ) 12,107,262 Finance income — 747 — 747 Finance expense (23,177 ) (52 ) (13,377 ) (36,606 ) Depreciation & amortization 1,511,138 — — 1,511,138 Discontinued operations (3,747,034 ) — — (3,747,034 ) Reportable segment loss (5,744,346 ) (6,867,849 ) (1,470,241 ) (2,593,744 ) Set out below are reconciliations of each reportable segment’s revenues, profit or loss for the six months ended June 30, 2023 and 2022, and assets and liabilities as at June 30, 2023 and December 31, 2022: For the six months ended June 30, 2023 Revenues Cultivation Distribution Corporate Total Total revenues $ 1,268,702 $ 128,741 $ — $ 1,397,443 Elimination of inter segment revenue — — — — Total revenue $ 1,268,702 $ 128,741 $ — $ 1,397,443 For the six months ended June 30, 2022 Revenues Cultivation Distribution Corporate Total Total revenues $ 57,516 $ 15,580 $ — $ 73,096 Elimination of inter segment revenue — — — — Total revenue $ 57,516 $ 15,580 $ — $ 73,096 For the six months ended June 30, 2023 Loss Cultivation Distribution Corporate Total Total loss for reportable segments $ (3,223,676 ) $ (337,238 ) $ (2,316,968 ) $ (5,877,882 ) Total loss on discontinued operations — — — — Elimination of inter segment profit or loss — — — — Loss before income tax expense $ (3,223,676 ) $ (337,238 ) $ (2,316,968 ) $ (5,877,882 ) For the six months ended June 30, 2022 Loss Cultivation Distribution Corporate Total Total profit or loss for reportable segments $ 9,491,380 $ (6,867,849 ) $ (1,470,241 ) $ 1,153,290 Total loss on discontinued operations — — — — Elimination of inter segment profit or loss — — — — Income (Loss) before income tax expense $ 9,491,380 $ (6,867,849 ) $ (1,470,241 ) $ 1,153,290 As at June 30, 2023 Assets Cultivation Distribution Corporate Total Total assets for reportable segments $ 35,060,640 $ 19,837,704 $ 13,869,424 $ 68,767,768 Elimination of inter segment assets — (19,131,000 ) (13,129,212 ) (32,260,212 ) Segments’ assets $ 35,060,640 $ 706,704 $ 740,212 $ 36,507,556 As at December 31, 2022 Assets Cultivation Distribution Corporate Total Total assets for reportable segments $ 37,392,401 $ 19,950,376 $ 13,914,212 $ 71,256,989 Elimination of inter segment assets — (19,131,000 ) (13,129,212 ) (32,260,212 ) Segments’ assets $ 37,392,401 $ 819,376 $ 785,000 $ 38,996,777 As at June 30, 2023 Liabilities Cultivation Distribution Corporate Total Total liabilities for reportable segments $ 17,477,967 $ 30,917,933 $ (24,557,990 ) $ 23,837,910 Elimination of inter segment liabilities (10,102,537 ) (29,703,804 ) 30,826,944 (8,979,397 ) Entity’s liabilities $ 7,375,430 $ 1,214,129 $ 6,268,954 $ 14,858,513 As at December 31, 2022 Liabilities Cultivation Distribution Corporate Total Total liabilities for reportable segments $ 16,032,790 $ 29,335,641 $ (26,121,029 ) $ 19,247,402 Elimination of inter segment liabilities (9,071,547 ) (28,188,661 ) 30,109,422 (7,150,786 ) Entity’s liabilities $ 6,961,243 $ 1,146,980 $ 3,988,393 $ 12,096,616 | 21. The Company has three reportable segments: Cultivation, Distribution & Corporate. Cultivating activities which comprise the “cultivation” segment are made up of the medical cannabis cultivation operations at RPK/Holigen in Portugal, and medical cannabis cultivation activities which were undertaken at Bophelo Bio Science & Wellness (Pty) Ltd. in Lesotho up until the loss of control event which occurred in July 2022 when the liquidation of Bophelo Bio Science and Wellness (Pty) Ltd was ordered by the High Court of Lesotho (refer to note 5). Distributing activities relate to the distribution of medical cannabis by Canmart Ltd in the United Kingdom. Corporate activities entail head office costs and other general corporate expenses related to the administration of the broader group. The accounting policies of the operating segments are the same as those described in the summary of significant accounting policies. The reportable segments have been determined by management on the basis that these are strategic business units that offer different products and services. The business units in Portugal and Lesotho (up until the loss of control event described in note 5) which fall under the cultivation segment are focused on the cultivation of medical cannabis and medical cannabis biomass respectively, while the business unit in the United Kingdom, which falls under the distribution segment, undertakes the sale and distribution of medical cannabis products. The corporate segment undertakes management and treasury services within the group and for the benefit of all group companies. They are managed separately as each business unit requires different strategies, risk management and technologies. Set out below is information about the assets and liabilities as at December 31, 2022 and 2021 and profit or loss from each segment for the years ended December 31, 2022 and 2021: Financial statement line ite As at December 31, 2022 Cultivation Distribution Corporate Total Reportable segment assets $ 37,392,401 $ 819,376 $ 785,000 $ 38,996,777 Reportable segment liabilities 6,961,243 1,146,980 3,988,393 12,096,616 Financial statement line ite As at December 31, 2021 Cultivation Distribution Corporate Total Reportable segment assets $ 4,127,273 $ 3,716,771 $ 201,959 $ 8,046,003 Reportable segment liabilities 3,020,730 323,129 6,903,926 10,247,425 Financial statement line ite For the year ended December 31, 2022 Cultivation Distribution Corporate Total Revenues from external customers $ 2,517,904 $ 101,778 $ — $ 2,619,682 Intersegment revenues — — — — Other income (expense) 13,348,562 (3,532 ) (1,289,652 ) 12,055,378 Finance income — 886 — 886 Finance expense (84,686 ) (49 ) (30,589 ) (115,324 ) Depreciation & amortization 3,507,013 2,546 88,764 3,598,323 Discontinued operations (3,422,225 ) — — (3,422,225 ) Reportable segment income (loss) 3,974,069 (8,089,036 ) (7,542,707 ) (11,657,674 ) Financial statement line ite For the year ended December 31, 2021 Cultivation Distribution Corporate Total Revenues from external customers $ — $ 41,431 $ — $ 41,431 Intersegment revenues — — — — Other expense — 55 — 55 Finance income — 90 — 90 Finance expense — — 10,509 10,509 Depreciation & amortization — 478 — 478 Discontinued operations (5,657,494 ) — — (5,657,494 ) Reportable segment loss (5,331,601 ) (1,775,923 ) (1,023,673 ) (8,131,197 ) Set out below are reconciliations of each reportable segment’s revenues, profit or loss, assets and liabilities as at December 31, 2022 and 2021, and for the years ended December 31, 2022 and 2021: Revenu For the year ended December 31, 2022 Cultivation Distribution Corporate Total Total revenues $ 2,517,904 $ 101,778 $ — $ 2,619,682 Elimination of inter segment revenue — — — — Total revenu $ 2,517,904 $ 101,778 $ — $ 2,619,682 Revenue For the year ended December 31, 2021 Cultivation Distribution Corporate Total Total revenues $ — $ 41,431 $ — $ 41,431 Elimination of inter segment revenue — — — — Total revenu $ — $ 41,431 $ — $ 41,431 Lo For the year ended December 31, 2022 Cultivation Distribution Corporate Total Total profit or loss for reportable segments $ 7,396,294 $ (8,089,036 ) $ (7,542,707 ) $ (8,235,449 ) Total loss on discontinued operations (3,422,225 ) — — (3,422,225 ) Elimination of inter segment profit or loss — — — — Income (Loss) before income tax expense $ 3,974,069 $ (8,089,036 ) $ (7,542,707 ) $ (11,657,674 ) Lo For the year ended December 31, 2021 Cultivation Distribution Corporate Total Total profit or loss for reportable segments $ 325,893 $ (1,775,923 ) $ (1,023,673 ) $ (2,473,703 ) Total loss on discontinued operations (5,657,494 ) — — (5,657,494 ) Elimination of inter segment profit or loss — — — — Loss before income tax expense $ (5,331,601 ) $ (1,775,923 ) $ (1,023,673 ) $ (8,131,197 ) Asse As at Cultivation Distribution Corporate Total Total assets for reportable segments $ 37,392,401 $ 19,950,376 $ 13,914,212 $ 71,256,989 Elimination of inter segment assets — (19,131,000 ) (13,129,212 ) (32,260,212 ) Segments’ assets $ 37,392,401 $ 819,376 $ 785,000 $ 38,996,777 Asse As at Cultivation Distribution Corporate Total Total assets for reportable segments $ 4,127,273 $ 4,082,801 $ 26,027,087 $ 34,237,881 Elimination of inter segment assets — (366,030 ) (25,825,848 ) (26,191,878 ) Segments’ assets $ 4,127,273 $ 3,716,771 $ 201,959 $ 8,046,003 Liabiliti As at Cultivation Distribution Corporate Total Total liabilities for reportable segments $ 16,032,790 $ 29,335,641 $ (26,121,029 ) $ 19,247,402 Elimination of inter segment liabilities (9,071,547 ) (28,188,661 ) 30,109,422 (7,150,786 ) Entity’s liabilities $ 6,961,243 $ 1,146,980 $ 3,988,393 $ 12,096,616 Liabilitie As at Cultivation Distribution Corporate Total Total liabilities for reportable segments $ 10,602,945 $ 5,437,189 $ (5,880,163 ) $ 10,160,956 Elimination of inter segment liabilities (7,582,575 ) (5,114,060 ) 12,784,089 86,469 Entity’s liabilities $ 3,020,370 $ 323,129 $ 6,903,926 $ 10,247,425 | 18. The Company has three reportable segments: Cultivation, Distribution & Corporate. The cultivation is done in Lesotho at Bophelo Bio Science & Wellness Pty Ltd. The distribution is done by Canmart Ltd. in the UK and the corporate segment. The accounting policies of the operating segments are the same as those described in the summary of significant accounting policies. The reportable segments have been determined by the management on the basis that these are strategic business units that offer different products & services. The business unit in Lesotho under the cultivation segment is in the process of cultivation of cannabis biomass and cannabis based medical products, the business unit in the UK under the distribution segments offers sales and distribution of cannabis based medical products. The corporate segment offers management and treasury services within the group companies. They are managed separately as each business requires different strategy and technology. Set out below is information about the assets and liabilities as at December 31, 2021 and 2020 and profit or loss from each segment for the years ended December 31, 2021, 2020 and 2019: As at December 31, 2021 Financial statement line item Cultivation Distribution Corporate Total Reportable segment assets $ 4,127,138 $ 3,716,771 $ 205,797 $ 8,043,909 Reportable segment liabilities 3,020,730 323,129 6,899,644 10,243,143 As at December 31, 2020 Financial statement line item: Cultivation Distribution Corporate Total Reportable segment assets $ 4,253,676 $ 19,664 $ — $ 4,273,340 Reportable segment liabilities 9,305,736 1,024 — 9,306,760 For the year ended December 31, 2021 Financial statement line item: Cultivation Distribution Corporate Total Revenues from external customers $ — $ 41,431 $ — $ 41,431 Intersegment revenues — — — — Other income — 55 — 55 Finance income 26,659 90 — 26,749 Finance expense 1,082,372 — 10,509 1,092,881 Depreciation & amortization 308,544 478 — 309,022 Reportable segment loss (5,331,600 ) (1,775,923 ) (1,019,823 ) (8,127,347 ) For the year ended December 31, 2020 Financial statement line item: Cultivation Distribution Corporate Total Revenues from external customers $ — $ 2,062 $ — $ 2,062 Intersegment revenues — — — — Other revenue — — — — Finance income 10,187 1 — 10,188 Finance expense 645,162 — — 645,162 Depreciation & amortization 248,743 — — 248,743 Reportable segment loss (2,298,310 ) (2,261 ) — (2,300,571 ) For the year ended December 31, 2019 Financial statement line item: Cultivation Distribution Corporate Total Revenues from external customers $ — $ — $ — $ — Intersegment revenues — — — — Other revenue — — — — Finance income 399 2 — 401 Finance expense 493,807 — — 493,807 Depreciation & amortization 198,824 — — 198,824 Reportable segment loss (1,394,611 ) (30 ) — (1,394,641 ) Set out below are reconciliations of each reportable segment’s revenues, profit or loss, assets and liabilities as at December 31, 2021 and 2020, and for the years ended December 31, 2021, 2020 and 2019: For the year ended December 31, 2021 Revenues Cultivation Distribution Corporate Total Total revenues $ — $ 41,431 $ — $ 41,431 Elimination of inter segment revenue — — — — Total revenu $ — $ 41,431 $ — $ 41,431 For the year ended December 31, 2020 Revenues Cultivation Distribution Corporate Total Total revenues $ — $ 2,062 $ — $ 2,062 Elimination of inter segment revenue — — — — Total revenu $ — $ 2,062 $ — $ 2,062 For the year ended December 31, 2019 Revenues Cultivation Distribution Corporate Total Total revenues $ — $ — $ — $ — Elimination of inter segment Revenue — — — — Total revenu $ — $ — $ — $ — For the year ended December 31, 2021 Loss Cultivation Distribution Corporate Total Total profit or loss for reportable $ (5,331,600 ) $ (1,775,923 ) $ (1,019,823 ) $ (8,127,347 ) Other profit or loss — — — — Elimination of inter segment profit or — — — — Loss before income tax expense $ (5,331,600 ) $ (1,775,923 ) $ (1,019,823 ) $ (8,127,347 ) For the year ended December 31, 2020 Loss Cultivation Distribution Corporate Total Total profit or loss for reportable $ (2,298,310 ) $ (2,261 ) $ — $ (2,300,571 ) Other profit or loss — — — — Elimination of inter segment profit or — — — — Loss before income tax expense $ (2,298,310 ) $ (2,261 ) $ — $ (2,300,571 ) For the year ended December 31, 2019 Loss Cultivation Distribution Corporate Total Total profit or loss for reportable $ (1,394,611 ) $ (30 ) $ — $ (1,394,641 ) Other profit or loss — — — — Elimination of inter segment profit or — — — — Loss before income tax expense $ (1,394,611 ) $ (30 ) $ — $ (1,394,641 ) As at December 31, 2021 Assets Cultivation Distribution Corporate Total Total assets for reportable segments $ 4,127,138 $ 4,082,801 $ 26,025,848 $ 34,235,787 Other assets — — — — Elimination of inter segment assets — (366,030 ) (25,825,848 ) (26,191,878 ) Entity’s assets $ 4,127,138 $ 3,716,771 $ 200,000 $ 8,043,909 As at December 31, 2020 Assets Cultivation Distribution Corporate Total Total assets for reportable segments $ 4,253,676 $ 19,664 $ — $ 4,273,340 Other assets — — — — Elimination of inter segment assets — — — — Entity’s assets $ 4,253,676 $ 19,664 $ — $ 4,273,340 As at December 31, 2021 Liabilities Cultivation Distribution Corporate Total Total liabilities for reprtable segments $ 10,602,945 $ 5,437,189 $ 6,899,644 $ 22,939,779 Other liabilities — — — — Elimination of inter segment liabilities (7,582,575 ) (5,114,060 ) — (12,696,635 ) Entity’s liabilities $ 3,020,730 $ 323,129 $ 6,899,644 $ 10,243,144 As at December 31, 2020 Liabilities Cultivation Distribution Corporate Total Total liabilities for reprtable segments $ 9,305,736 $ 1,024 $ — $ 9,306,760 Other liabilities — — — — Elimination of inter segment liabilities — — — — Entity’s liabilities $ 9,305,736 $ 1,024 $ — $ 9,306,760 The Company has identified only three operating segments as disclosed above. The activities of two other subsidiary companies namely Cannahealth and Bophelo H are to hold the investments within the group companies. Therefore, there profit or loss, assets and liabilities are not included in the above segment information. |
Contingencies
Contingencies | 6 Months Ended |
Jun. 30, 2023 | |
Contingencies [Abstract] | |
Contingencies | 21. On October 20, 2022, Louisa Mojela filed a claim against Canmart and the Company for wrongful termination of her Service Agreement. The claimant sought £1,832,150.62 plus further administrative and legal fees. The Company denied her claim and lodged a counterclaim lodged for losses caused by the Claimant including a loan of US $6,849,935.69 Akanda advanced to Bophelo. On October 30, 2023, Mojela’s entire application failed. The consequentials hearing is scheduled for January 15, 2024, only chance of reviving if appeal granted. On April 29, 2023, Trevor Scott, former CFO of the Company, issued a claim against the Company for amounts owing under his employment agreement totaling £420,659.95. Claim has been denied in its entirety and a counter -claim On May 12, 2023, Tejinder Virk, former CEO of the Company, issued a claim for Detriment and dismissal for alleged protected disclosures totaling £1,630,302.22. The claim has been denied in it’s entirely. As of December 28, 2023, the list of issues to be agreed upon are outstanding and pending further document disclosures, bundle to be agreed by February 1, 2024, witness statements due for exchange by March 28, 2024. On May 15, 2023, Vidya Iyer, the Company’s former SVP of Finance issued a claim for amounts owing under her employment agreement totaling £151,774. Claim has been denied in its entirety and a counter -claim |
Subsequent Events
Subsequent Events | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Subsequent Events [Abstract] | |||
Subsequent Events | 22. Subsequent to the six months ended June 30, 2023, the Company: i. On September 19, 2023, the Company entered into an option agreement with 1107385 B.C. Ltd (“1107385”) to purchase farming land property and related operations and licenses from 1107385. The key deal terms are as follows: The Company will issue a non -refundable This buys the Company the right to develop the property for two years. The Company plans during this time period to develop Tetrahydrocannabinol (THC) and CBD facilities at this site. Additional payments will be made based upon milestones achieved from the development. Additional milestones include THC cultivation, sales of product, CBD cultivation, and Hemp cultivation. This is similar to a mining agreement where operators buy the right to mine a site. In this case, the Company has purchased the right to develop the farming land. Further payment milestones include: • • • • On September 22, 2023, the Company and 1107385 amended and restated the Prior Agreement (the “Amended and Restated Agreement”) to remove the cash payment option and Share Cap for the First Option Payment, and agreed to issue 879,895 Shares in full consideration for the First Option Payment (issued subsequently). The remaining terms and conditions of the Prior Agreement remain in full force and effect. ii Issued the following shares d. e. f. | 22. On January 26, 2023, the Company issued 4,210,525 Common Shares at a fair value of $1,178,947 on the RSUs granted. On March 8, 2023, the Company announced that it expects to implement a 1 -for-10 On March 29, 2023, the Company announced that it received a notification letter (the “Notification Letter on Compliance”) from the Listing Qualifications Department of The Nasdaq Stock Market Inc. (the “Nasdaq”) dated March 27, 2023, indicating that the Company has regained compliance with the minimum bid price requirement set forth in Rule 5550(a)(2) of the Nasdaq Listing Rules (the “Minimum Bid Price Requirement”). Subsequent to the six months ended April 28, 2022, the Company: Loan Agreements: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. Property Option Agreement: On September 19, 2023, the Company entered into an option agreement with 1107385 B.C. Ltd (“1107385”) to purchase farming land property and related operations and licenses from 1107385. The key deal terms are as follows: The Company will issue a non -refundable This buys the Company the right to develop the property for two years. The Company plans during this time period to develop Tetrahydrocannabinol (THC) and CBD facilities at this site. Additional payments will be made based upon milestones achieved from the development. Additional milestones include THC cultivation, sales of product, CBD cultivation, and Hemp cultivation. This is similar to a mining agreement where operators buy the right to mine a site. In this case, the Company has purchased the right to develop the farming land. Further payment milestones include: • • • • On September 22, 2023, the Company and 1107385 amended and restated the Prior Agreement (the “Amended and Restated Agreement”) to remove the cash payment option and Share Cap for the First Option Payment, and agreed to issue 879,895 Shares in full consideration for the First Option Payment (issued subsequently). The remaining terms and conditions of the Prior Agreement remain in full force and effect. Share issuances: 1. 2. 3. 4. 5. -funded -funded -funded -funded 6. -funded 7. -funded Legal Settlement: On April 29, 2023, Trevor Scott, former CFO of the Company, issued a claim against the Company for amounts owing under his employment agreement totaling £420,659.95. On January 15, 2024, the Company and Trevor Scott entered into a settlement agreement for termination payment of GBP67,392 ($85,760). On May 12, 2023, Tejinder Virk, former CEO of the Company, issued a claim for Detriment and dismissal for alleged protected disclosures totaling £1,630,302.22. The claim has been denied in it’s entirely. As of December 28, 2023, the list of issues to be agreed upon are outstanding and pending further document disclosures, bundle to be agreed by February 1, 2024, witness statements due for exchange by March 28, 2024. On May 15, 2023, Vidya Iyer, the Company’s former SVP of Finance issued a claim for amounts owing under her employment agreement totaling £151,774. Claim has been denied in its entirety and a counter -claim Sale of RPK: On February 1, 2024, the Company entered into an Amended Non -Binding Pursuant to the provisions set forth in the LOI, the duration of said LOI has been extended through the 31st day of March, 2024. Furthermore, the stipulated purchase price therein has been amended to an aggregate of Two Million United States Dollars (USD $2,000,000) from Two Million Seven Hundred Thousand United States Dollars (USD $2,700,000) which include all current liabilities of RPK which are approximately 4,000,000 Euros. In alignment with the terms of the proposed transaction, a deposit amounting to Five Hundred Thousand United States Dollars (USD $500,000) shall be securely placed in an escrow account with the remainder of the amount due upon successful completion of said transaction. | 19. 1. Appointment of Directors On 20 February 2022, the Company appointed the following individuals to the board of directors: • • • All three of the above directors were appointed as independent non -executive 2. Private Placement On 14 January 2022, the Company completed a second interim closing of a private placement, which saw subscribers receive 154,000 Common Shares of the Company in lieu of gross proceeds of $385,000. On 10 February 2022, the Company completed its third and final closing of a private placement which saw subscribers receive 8,000 Common Shares of the Company in lieu of gross proceeds of $20,000. 3. Conversion of Debenture On 14 March 2022, and immediately prior to an Initial Public Offering of the Company, Akanda Corp. issued 1,645,745 Common Shares to Halo Collective, Inc. (“Halo”) at a price of $4 each to settle the principal amount ($6,559,294) plus accrued interest ($23,686) owing to Halo in terms of a convertible debenture agreement, which totalled $6,582,980 at the time of conversion. The conversion of the debt owing was triggered by the Initial Public Offering in terms of the convertible debenture agreement. 4. ESG Trust On 17 March 2022, the Company issued 869,963 Common Shares to the Akanda Bokamoso Empowerment Trust in terms of unconditional awards vested to the Akanda Bokamoso Empowerment Trust in terms of the Company’s Employee Share Ownership Plan. The Akanda Bokamoso Empowerment Trust has been established by Akanda Corp. as an ESG Trust to benefit employees of Akanda Corp. and its subsidiaries, especially those who are disadvantaged and vulnerable persons living in the Kingdom of Lesotho. 5. IPO & Listing On 17 March 2022, the Company completed an Initial Public Offering and listed on the Nasdaq stock exchange. The Initial Public Offering saw the Company issue 4,000,000 Common Shares to IPO investors in exchange for gross proceeds of $16,000,000 and net proceeds of $14,682,089 after deducting underwriter commissions and allowable expenses. 6. Conversion of Warrant On 22 March 2022, the Company’s underwriter’s, Boustead Securities Limited (“BSL”), exercised a purchase warrant to acquire 234,839 Common Shares. In terms of the purchase warrant held by the underwriters, BSL are entitled to purchase up to 280,000 Common Shares of the Company at a strike price of $5 per share. In terms of the warrant, BSL are entitled to convert their warrant into a right to purchase up to a maximum of 280,000 Akanda Common Shares based on the following formula: X = Y(A -B Where: • • • • • • 7. Acquisition of Holigen Limited On 20 April 2022, announced it has entered into a definitive agreement to acquire 100% of the issued and outstanding shares of Holigen Limited (“Holigen”) from The Flowr Corporation. Holigen is the owner of RPK Biopharma Unipessoal, Lda (“RPK”) a Portugal -based -recourse The acquisition, which has been approved by the Boards of Directors of both companies, is expected to close during the second quarter of 2022, and is subject to the satisfaction or waiver of customary closing conditions, including the approval by the TSX Venture Exchange. |
Significant Accounting Policies
Significant Accounting Policies | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Significant Accounting Policy Abstract] | ||
Significant Accounting Policies | 3. (a) These consolidated financial statements include the accounts of the Company and its subsidiaries. Subsidiaries are entities that are controlled by the Company. Control exists when the Company has power over the investee and the Company is exposed or has the rights to variable returns from the investee. Subsidiaries are included in the consolidated financial results of the Company from the effective date of acquisition up to the effective date of disposition or loss of control. The financial statements of the subsidiaries are prepared for the same reporting period as the parent company, using consistent account policies. All intercompany transactions and balances and unrealized gains and losses from intercompany transactions have been eliminated. The subsidiaries of the Company are as follows: Country of Holding Functional Currency Cannahealth Ltd. (“Cannahealth”) Malta 100% EUR Bophelo Holdings Ltd. (“Bophelo H”) United Kingdom 100% GBP Bophelo Bio Science and Wellness (Pty) Ltd. (“Bophelo”) Lesotho 100% LSL Canmart Ltd. (“Canmart”) United Kingdom 100% GBP Holigen Holdings Limited (“Holigen”) Portugal 100% EUR RPK Biopharma Unipessoal Lda. (“RPK”) Portugal 100% EUR 1371011 BC Ltd. (“1371011”) Canada 100% CAD (b) Items included in the financial statements of each of the Company’s consolidated subsidiaries are measured using the currency of the primary economic environment in which each subsidiary operates (the functional currency). The consolidated financial statements are presented in USD. All assets and liabilities in each statement of financial position are translated at the closing rate at the date of that statement of financial position. All income and expenses are translated at exchange rates at the dates of the transactions. Foreign currency transactions are translated into the respective functional currencies of the Company and its subsidiaries using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at period -end -monetary -monetary The results and financial position of the Company’s foreign subsidiaries that have a different functional currency from the Company’s functional and presentation currency are translated into USD as foll (i) (ii) (iii) (c) (i) The Company initially recognizes a financial asset on the trade date at which the Company becomes a party to the contractual provisions of the instrument. Upon recognition of a financial asset, classification is made based on the business model for managing the asset and the asset’s contractual cash flow characteristics. The financial asset is initially recognized at its fair value and subsequently classified and measured as (i) amortized cost; (ii) fair value through other comprehensive income (“FVOCI”); or (iii) FVTPL. Financial assets are classified as FVTPL if they have not been classified as measured at amortized cost or FVOCI. The Company derecognizes a financial asset when the contractual rights to the cash flows from the asset expire, or it transfers the rights to receive the contractual cash flows on the financial asset in a transaction in which substantially all the risks and rewards of ownership of the financial asset are transferred. Financial assets and liabilities are offset and the net amount presented in the consolidated statements of financial position when, and only when, the Company has a legal right to offset the amounts and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. The Company has classified all of its financial assets as financial assets measured at amortized cost or FVTPL. The Company has not classified any financial assets as FVTPL or FVOCI. Financial assets measured at amortized cost A non -derivative (ii) The Company recognizes a financial liability on the trade date in which it becomes a party to the contractual provisions of the instrument at fair value plus any directly attributable costs. Financial liabilities are subsequently measured at amortized cost or FVTPL and are not subsequently reclassified. The Company’s financial liabilities are trade and other payables and loans and borrowings which are recognized on an amortized cost basis. Financial liabilities measured at amortized cost All financial liabilities are recognized initially on the trade date at which the Company becomes a party to the contractual provisions of the instrument. Such financial liabilities are recognized initially at fair value plus any directly attributable transaction costs. All financial liabilities are measured at amortized cost, except for financial liabilities measured at FVTPL. A financial liability may no longer be reclassified subsequent to initial recognition. Subsequent to initial recognition, financial liabilities are measured at amortized cost using the effective interest method. The Company derecognizes a financial liability when its contractual obligations are discharged or cancelled, or when they expire. The Company has the following non -derivative (d) Revenue is measured based on the consideration specified in a contract with a customer. The Company recognizes revenue when it transfers control over a good or service to a customer. The Company records revenue upon transfer of promised goods or services to customers in amounts that reflect the consideration to which the Company expects to be entitled in exchange for those goods or services based on the following five step approach: Step 1: Identify the contracts with customers; Step 2: Identify the performance obligations in the contract; Step 3: Determine the transaction price; Step 4: Allocate the transaction price to the performance obligations in the contract; and Step 5: Recognize revenue as performance obligations are satisfied. The Company typically satisfies its performance obligations at a point in time, upon completion of sale. The Company primarily acts as principal in contracts with its customers. The Company does not have material obligations for returns, refunds and other similar obligations, nor warranties and related obligations. Revenue is recognized at the amount of the transaction price that is allocated to the performance obligation. The transaction price is the amount of consideration to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer. The Company has a single revenue stream currently that relates to the sale of cannabis -based The Company exercises judgments in determining the amount of the costs incurred to obtain or fulfil a contract with a customer, which includes, but is not limited to (a) the likelihood of obtaining the contract, (b) the estimate of the profitability of the contract, and (c) the credit risk of the customer. An impairment loss will be recognized in profit or loss to the extent that the carrying amount of the asset exceeds (a) the remaining amount of consideration that the entity expects to receive in exchange for the goods or services to which the asset relates, less (b) the costs that relate directly to providing those goods or services and that have not been recognized as expenses. (e) The Company considers all liquid investments purchased with a maturity of three months or less at acquisition to be cash and cash equivalents, which are carried and classified at amortized cost. The Company did not (f) Inventories consist of raw materials and are measured at the lower of cost and net realizable value. The cost of inventories is based on the first -in -out -down (g) Biological assets are measured at their fair value less costs to sell in the consolidated statement of financial position. The Company’s method of accounting for biological assets attributes value accretion on a straight -line Biological assets and produce held by the Company is planned to be used in four possible ways: ☐ Sale to the export market; ☐ Sale to the local market; ☐ Repurposed for use in research and development; and ☐ Written off for being obsolete. (h) (i) Items of property and equipment are measured at cost less accumulated depreciation and accumulated impairment losses. When parts of an item of property and equipment have different estimated useful lives, they are accounted for as separate items within property and equipment. The costs of the ongoing regular servicing of property and equipment are recognized in tin the period in which they are ind. (ii) Depreciation is recognized in profit or loss over the estimated useful lives of each part of an item of property and equipment in a manner that most closely reflects management’s estimated future consumption of the future economic benefits embodied in the asset. The estimated useful lives for the current and comparative periods are as follows: Plant and equipment 10 years Leasehold improvements 20 years Motor Vehicles 4 years Computers 3 years Furniture and fixtures 6 y (i) Intangible assets are recorded at cost less amortization and impairment losses, if any. The Company had a cannabis operator’s license in Lesotho, held by its subsidiary Bophelo, which was valid for 10 years and was subject to a renewal at the end of the 10 years. The license automatically renewed annually on payment of necessary fees as well as submission of operational documents to the Ministry of Health. As a result of loss of control of Bophelo, the license was derecognized and recorded as a loss on the consolidated statement of loss and comprehensive loss. The Company also has a cannabis API manufacturing and GMP license in Portugal, held by its newly acquired subsidiary Holigen -RPK (j) The Company assesses at each reporting period whether there is an indication that a non -financial -tax Impairment losses recognized in prior periods are assessed at each reporting date for any indications that the loss has decreased or no longer exists. An impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount. An impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been determined, net of amortization, if no impairment loss had been recognized. (k) Income tax expense comprises current and deferred taxes. Current taxes and deferred taxes are recognized in profit or loss except to the extent that it relates to a business combination, or items recognized directly in equity or in other comprehensive loss. Current taxes are the expected tax receivable or payable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the reporting date, and any adjustment to tax receivable or payable in respect of previous years. Deferred taxes are recognized in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred taxes are not recognized for the following temporary differences: the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable profit or loss, and differences relating to investments in subsidiaries and jointly controlled entities to the extent that it is probable that they will not reverse in the foreseeable future. In addition, deferred taxes are not recognized for taxable temporary differences arising on the initial recognition of goodwill. Deferred taxes are measured at the tax rates that are expected to be applied to temporary differences when they reverse, based on the tax laws that have been enacted or substantively enacted by the reporting date. Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax assets and liabilities, and they relate to income taxes levied by the same tax authority on the same taxable entity, or on different tax entities, but they intend to settle current tax assets and liabilities on a net basis or their tax assets and liabilities will be realized simultaneously. A deferred tax asset is recognized for unused tax losses, tax credits and deductible temporary differences, to the extent that it is probable that future taxable profits will be available against which they can be utilized. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized. (l) At inception of a contract, the Company assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The Company assesses whether the contract involves the use of an identified asset, whether the right to obtain substantially all of the economic benefits from use of the asset during the term of the arrangement exists, and if the Company has the right to direct the use of the asset. At inception or on reassessment of a contract that contains a lease component, the Company allocates the consideration in the contract to each lease component on the basis of their relative standalone prices. As a lessee, the Company recognizes a right -of-use -of-use The right -of-use -of-use A lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted by the interest rate implicit in the lease, or if that rate cannot be readily determined, the incremental borrowing rate. Lease payments included in the measurement of the lease liability are comprised of: a) -substance b) c) d) e) The lease liability is measured at amortized cost using the effective interest method. It is remeasured when there is a change in future lease payments arising from a change in an index or rate, or if there is a change in the estimate or assessment of the expected amount payable under a residual value guarantee, purchase, extension or termination option. Variable lease payments not included in the initial measurement of the lease liability are charged directly to profit or loss. (m) The Company presents basic loss per share (“LPS”) data for its ordinary shares. Basic LPS is calculated by dividing the profit or loss attributable to ordinary shareholders of the Company by the weighted average number of ordinary shares outstanding during the year, adjusted for the Company’s own shares held. Diluted LPS is computed similar to basic LPS except that the weighted average shares outstanding are increased to include additional shares for the assumed exercise of any exercisable instruments, if dilutive. The number of additional shares is calculated by assuming that outstanding exercisable instruments were exercised and that the proceeds from such exercise were used to acquire Common Shares at the average market price during the reporting periods. (n) In January 2020, the IAS issued an amendment to IAS 1 Presentation of Financial Statements that clarifies the criterion for classifying a liability as non -current 1. -current 2. The amendment applies to annual reporting periods beginning on or after January 1, 2023 and is applied retrospectively upon adoption. The Company does not expect the amendments to have a significant impact on the consolidated financial statements upon adoption. | 3. (a) These consolidated financial statements include the accounts of the Company and its subsidiaries. Subsidiaries are entities that are controlled by the Company. Control exists when the Company has power over the investee and the Company is exposed or has the rights to variable returns from the investee. Subsidiaries are included in the consolidated financial results of the Company from the effective date of acquisition up to the effective date of disposition or loss of control. The financial statements of the subsidiaries are prepared for the same reporting period as the parent company, using consistent account policies. All intercompany transactions and balances and unrealized gains and losses from intercompany transactions have been eliminated. The subsidiaries of the Company are as follows: Country of Incorporation Holding Functional Cannahealth Ltd. (“Cannahealth”) Malta 100% owned EUR Bophelo Holdings Ltd. (“Bophelo H”) United Kingdom 100% owned GBP Bophelo Bio Science and Wellness (Pty) Ltd. (“Bophelo”) Lesotho 100% owned LSL Canmart Ltd. (“Canmart”) United Kingdom 100% owned GBP (b) Foreign currency Items included in the financial statements of each of the Company’s consolidated subsidiaries are measured using the currency of the primary economic environment in which each subsidiary operates (the functional currency). The consolidated financial statements are presented in USD. All assets and liabilities in each statement of financial position are translated at the closing rate at the date of that statement of financial position. All income and expenses are translated at exchange rates at the dates of the transactions. Foreign currency transactions are translated into the respective functional currencies of the Company and its subsidiaries using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at period -end -monetary -monetary The results and financial position of the Company’s foreign subsidiaries that have a different functional currency from the Company’s functional and presentation currency are translated into USD as follows: (i) (ii) (iii) (c) (i) The Company initially recognizes a financial asset on the trade date at which the Company becomes a party to the contractual provisions of the instrument. Upon recognition of a financial asset, classification is made based on the business model for managing the asset and the asset’s contractual cash flow characteristics. The financial asset is initially recognized at its fair value and subsequently classified and measured as (i) amortized cost; (ii) fair value through other comprehensive income (“FVOCI”); or (iii) FVTPL. Financial assets are classified as FVTPL if they have not been classified as measured at amortized cost or FVOCI. The Company derecognizes a financial asset when the contractual rights to the cash flows from the asset expire, or it transfers the rights to receive the contractual cash flows on the financial asset in a transaction in which substantially all the risks and rewards of ownership of the financial asset are transferred. Financial assets and liabilities are offset and the net amount presented in the consolidated statements of financial position when, and only when, the Company has a legal right to offset the amounts and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. The Company has classified all of its financial assets as financial assets measured at amortized cost or FVTPL. The Company has not classified any financial assets as FVTPL or FVOCI. Financial assets measured at amortized cost A non -derivative (ii) The Company recognizes a financial liability on the trade date in which it becomes a party to the contractual provisions of the instrument at fair value plus any directly attributable costs. Financial liabilities are subsequently measured at amortized cost or FVTPL and are not subsequently reclassified. The Company’s financial liabilities are trade and other payables and loans and borrowings which are recognized on an amortized cost basis. Financial liabilities measured at amortized cost All financial liabilities are recognized initially on the trade date at which the Company becomes a party to the contractual provisions of the instrument. Such financial liabilities are recognized initially at fair value plus any directly attributable transaction costs. All financial liabilities are measured at amortized cost, except for financial liabilities measured at FVTPL. A financial liability may no longer be reclassified subsequent to initial recognition. Subsequent to initial recognition, financial liabilities are measured at amortized cost using the effective interest method. The Company derecognizes a financial liability when its contractual obligations are discharged or cancelled, or when they expire. The Company has the following non -derivative (d) Revenue is measured based on the consideration specified in a contract with a customer. The Company recognizes revenue when it transfers control over a good or service to a customer. The Company records revenue upon transfer of promised goods or services to customers in amounts that reflect the consideration to which the Company expects to be entitled in exchange for those goods or services based on the following five step approach: Step 1: Identify the contracts with customers; Step 2: Identify the performance obligations in the contract; Step 3: Determine the transaction price; Step 4: Allocate the transaction price to the performance obligations in the contract; and Step 5: Recognize revenue as performance obligations are satisfied. The Company typically satisfies its performance obligations at a point in time, upon completion of sale. The Company primarily acts as principal in contracts with its customers. The Company does not have material obligations for returns, refunds and other similar obligations, nor warranties and related obligations. Revenue is recognized at the amount of the transaction price that is allocated to the performance obligation. The transaction price is the amount of consideration to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer. The company has a single revenue stream currently that relates to the sale of cannabis -based The Company exercises judgments in determining the amount of the costs incurred to obtain or fulfil a contract with a customer, which includes, but is not limited to (a) the likelihood of obtaining the contract, (b) the estimate of the profitability of the contract, and (c) the credit risk of the customer. An impairment loss will be recognized in profit or loss to the extent that the carrying amount of the asset exceeds (a) the remaining amount of consideration that the entity expects to receive in exchange for the goods or services to which the asset relates, less (b) the costs that relate directly to providing those goods or services and that have not been recognized as expenses. (e) The Company considers all liquid investments purchased with a maturity of three months or less at acquisition to be cash and cash equivalents, which are carried and classified at amortized cost. The Company did not hold any cash equivalents as of December 31, 2021 and 2020. (f) Inventories consist of raw materials and are measured at the lower of cost and net realizable value. The cost of inventories is based on the first -in -out -down (g) Biological assets are measured at their fair value less costs to sell in the Statement of Financial Position. The Company’s method of accounting for biological assets attributes value accretion on a straight -line Biological assets and produce held by the Company is planned to be used in four possible ways: ☐ Sale to the export market; ☐ Sale to the local market; ☐ Repurposed for use in research and development; and ☐ Written off for being obsolete. (h) (i) Items of property and equipment are measured at cost less accumulated depreciation and accumulated impairment losses. When parts of an item of property and equipment have different estimated useful lives, they are accounted for as separate items within property and equipment. The costs of the ongoing regular servicing of property and equipment are recognized in tin the period in which they are incurred. (ii) Depreciation is recognized in profit or loss over the estimated useful lives of each part of an item of property and equipment in a manner that most closely reflects management’s estimated future consumption of the future economic benefits embodied in the asset. The estimated useful lives for the current and comparative periods are as follows: Plant and equipment 10 years Leasehold improvements 20 years Motor Vehicles 4 years Computers 3 years Furniture and fixtures 6 years (i) The Company has a cannabis operator’s license in Lesotho, held by its subsidiary Bophelo, which is valid for 10 10 Additionally, the Company has cannabis distribution licenses in the United Kingdom held by its subsidiary, Canmart which have been assessed as having an indefinite useful life. As such, these licenses are not amortized but their recoverable amounts are tested annually for impairment. The indefinite intangible assets are recorded at cost less impairment losses, if any. The Company capitalizes the initial license application cost as the cost of intangible assets while the annual license renewal fees are expensed in the year during which they occur (j) -financial assets The Company assesses at each reporting period whether there is an indication that a non -financial -tax Impairment losses recognized in prior periods are assessed at each reporting date for any indications that the loss has decreased or no longer exists. An impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount. An impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been determined, net of amortization, if no impairment loss had been recognized. (k) Income tax expense comprises current and deferred taxes. Current taxes and deferred taxes are recognized in profit or loss except to the extent that it relates to a business combination, or items recognized directly in equity or in other comprehensive loss. Current taxes are the expected tax receivable or payable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the reporting date, and any adjustment to tax receivable or payable in respect of previous years. Deferred taxes are recognized in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred taxes are not recognized for the following temporary differences: the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable profit or loss, and differences relating to investments in subsidiaries and jointly controlled entities to the extent that it is probable that they will not reverse in the foreseeable future. In addition, deferred taxes are not recognized for taxable temporary differences arising on the initial recognition of goodwill. Deferred taxes are measured at the tax rates that are expected to be applied to temporary differences when they reverse, based on the tax laws that have been enacted or substantively enacted by the reporting date. Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax assets and liabilities, and they relate to income taxes levied by the same tax authority on the same taxable entity, or on different tax entities, but they intend to settle current tax assets and liabilities on a net basis or their tax assets and liabilities will be realized simultaneously. A deferred tax asset is recognized for unused tax losses, tax credits and deductible temporary differences, to the extent that it is probable that future taxable profits will be available against which they can be utilized. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized. (l) At inception of a contract, the Company assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The Company assesses whether the contract involves the use of an identified asset, whether the right to obtain substantially all of the economic benefits from use of the asset during the term of the arrangement exists, and if the Company has the right to direct the use of the asset. At inception or on reassessment of a contract that contains a lease component, the Company allocates the consideration in the contract to each lease component on the basis of their relative standalone prices. As a lessee, the Company recognizes a right -of-use -of-use The right -of-use -of-use A lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted by the interest rate implicit in the lease, or if that rate cannot be readily determined, the incremental borrowing rate. Lease payments included in the measurement of the lease liability are comprised of: a) -substance b) c) d) e) The lease liability is measured at amortized cost using the effective interest method. It is remeasured when there is a change in future lease payments arising from a change in an index or rate, or if there is a change in the estimate or assessment of the expected amount payable under a residual value guarantee, purchase, extension or termination option. Variable lease payments not included in the initial measurement of the lease liability are charged directly to profit or loss. (m) The Company presents basic earnings per share (“EPS”) data for its ordinary shares. Basic EPS is calculated by dividing the profit or loss attributable to ordinary shareholders of the Company by the weighted average number of ordinary shares outstanding during the period, adjusted for the Company’s own shares held. Diluted EPS is computed similar to basic EPS except that the weighted average shares outstanding are increased to include additional shares for the assumed exercise of any exercisable instruments, if dilutive. The number of additional shares is calculated by assuming that outstanding exercisable instruments were exercised and that the proceeds from such exercise were used to acquire Common Shares at the average market price during the reporting periods. (n) In January 2020, the IAS issued an amendment to IAS 1 Presentation of Financial Statements that clarifies the criterion for classifying a liability as non -current 3. -current 4. The amendment applies to annual reporting periods beginning on or after January 1, 2023, and is applied retrospectively upon adoption. The Company does not expect the amendments to have a significant impact on the consolidated financial statements upon adoption. |
Loan Receivable_2
Loan Receivable | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of Loan Receivable Explanatory Abstract | |
Loan Receivable | 12. December 31, December 31, Loan to Cellen Life Sciences Limited $ 483,588 $ — Included in the loan receivable at December 31, 2022 is an amount of $483,588 (£400,000) (2021 — $ nil On November 10, 2022, the Company entered into an agreement (the “Loan Restructuring Agreement”) with Cellen Life Sciences Limited and Cellen Biotech Limited (collectively referred to as “Cellen”) which entails the restructuring of the payment terms applicable to the $500,000 loan payable by Cellen to the Company pursuant to a Bridge Loan Facility Agreement previously entered into on December 2, 2021. In terms of the Loan Restructuring Agreement, Cellen shall repay the $500,000 by no later than the fourth anniversary of the Loan Restructuring Agreement, namely by November 10, 2026. The loan shall not bear interest until the 2 nd |
Income Taxes
Income Taxes | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Income Taxes [Abstract] | ||
Income taxes | 17. The components of income tax expense (benefit) are as follows: Years ended December 3 2022 2021 Current: $ — $ — Kingdom of Lesotho — — Republic of Malta — — United Kingdom — — $ — $ — A reconciliation of the expected income tax recovery to the actual income tax recovery is as follows: Deferred tax assets and liabilities have not been recognized for the following: Years ended December 3 2022 2021 Net loss before income taxes: $ (11,657,674 ) $ (8,131,197 ) Statutory income tax rate 26.50 % 26.50 % Income tax benefit (3,089,284 ) (2,154,767 ) Non-deductible items 1,664,757 — Non-taxable items (3,420,469 ) — Foreign rate differential (323,877 ) 1,227,150 Unrecognized loss carryforwards 5,168,873 1,089,449 $ — $ — The Company has reconciled to the average statutory tax rate of the Kingdom of Lesotho (10%), the Republic of Malta (35%), the United Kingdom (19%), and the Republic of Portugal (21%). Deferred tax assets At December 3 2022 2021 Net operating loss before carryforwards $ — $ — Unrecognized loss carryforwards $ — $ — Deferred tax assets have not been recognized in respect of unutilized tax losses carried forward because it is not probable that future taxable profit will be available against which the Company can use the benefits therefrom. | 12. The components of income tax expense (benefit) are as follows: Year ended December 2021 2020 2019 Current: Kingdom of Lesotho $ — $ — $ — Republic of Malta — — — United Kingdom — — — $ — $ — $ — A reconciliation of the expected income tax recovery to the actual income tax recovery is as follows: Deferred tax assets and liabilities have not been recognized for the following: Year ended December 2021 2020 2019 Net loss before income taxes $ (8,131,197 ) $ (2,300,571 ) $ (1,394,641 ) Statutory income tax rate 26.50 % 26.50 % 26.50 % Income tax benefit (2,154,767 ) (609,651 ) (369,580 ) Foreign rate differential 1,227,150 379,594 230,116 Unrecognized loss carryforwards 1,089,449 230,057 139,464 $ — $ — $ — The Company has reconciled to the average statutory tax rate of the Kingdom of Lesotho (10%), the Republic of Malta (35%) and the United Kingdom (19%). Deferred tax assets As at December 2021 2020 Net operating loss before carryforwards $ — $ — Unrecognized loss carryforwards $ — $ — Deferred tax assets have not been recognized in respect of unutilized tax losses carried forward because it is not probable that future taxable profit will be available against which the Company can use the benefits therefrom. |
Determination of Fair Values
Determination of Fair Values | 12 Months Ended |
Dec. 31, 2021 | |
Determination of Fair Values [Abstract] | |
Determination of fair values | 17. IFRS Fair Value Measurement • • • A number of the Company’s accounting policies and disclosures require the determination of fair value, for both financial and non -financial (a) The fair value of the biological assets is based on the most recent available evidence for the selling price of similar biological assets. An independent valuator based his valuation of cannabis biological assets being valued at $0.15 per gram and cannabis seeds were valued at historical cost. The fair value of cannabis biomass was based on the selling price of cannabis biomass that recently happened in Lesotho, while the fair value of cannabis seeds on hand was based on the historical cost of the seeds based on what was paid by the company. (b) The fair value of intangible assets is based on a discounted cash flow analysis in which management determines the estimated future cash flows and eventual sale of the assets. |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Accounting Policies [Abstract] | ||
Basis of consolidation | (a) These consolidated financial statements include the accounts of the Company and its subsidiaries. Subsidiaries are entities that are controlled by the Company. Control exists when the Company has power over the investee and the Company is exposed or has the rights to variable returns from the investee. Subsidiaries are included in the consolidated financial results of the Company from the effective date of acquisition up to the effective date of disposition or loss of control. The financial statements of the subsidiaries are prepared for the same reporting period as the parent company, using consistent account policies. All intercompany transactions and balances and unrealized gains and losses from intercompany transactions have been eliminated. The subsidiaries of the Company are as follows: Country of Holding Functional Currency Cannahealth Ltd. (“Cannahealth”) Malta 100% EUR Bophelo Holdings Ltd. (“Bophelo H”) United Kingdom 100% GBP Bophelo Bio Science and Wellness (Pty) Ltd. (“Bophelo”) Lesotho 100% LSL Canmart Ltd. (“Canmart”) United Kingdom 100% GBP Holigen Holdings Limited (“Holigen”) Portugal 100% EUR RPK Biopharma Unipessoal Lda. (“RPK”) Portugal 100% EUR 1371011 BC Ltd. (“1371011”) Canada 100% CAD | (a) These consolidated financial statements include the accounts of the Company and its subsidiaries. Subsidiaries are entities that are controlled by the Company. Control exists when the Company has power over the investee and the Company is exposed or has the rights to variable returns from the investee. Subsidiaries are included in the consolidated financial results of the Company from the effective date of acquisition up to the effective date of disposition or loss of control. The financial statements of the subsidiaries are prepared for the same reporting period as the parent company, using consistent account policies. All intercompany transactions and balances and unrealized gains and losses from intercompany transactions have been eliminated. The subsidiaries of the Company are as follows: Country of Incorporation Holding Functional Cannahealth Ltd. (“Cannahealth”) Malta 100% owned EUR Bophelo Holdings Ltd. (“Bophelo H”) United Kingdom 100% owned GBP Bophelo Bio Science and Wellness (Pty) Ltd. (“Bophelo”) Lesotho 100% owned LSL Canmart Ltd. (“Canmart”) United Kingdom 100% owned GBP |
Foreign currency | (b) Items included in the financial statements of each of the Company’s consolidated subsidiaries are measured using the currency of the primary economic environment in which each subsidiary operates (the functional currency). The consolidated financial statements are presented in USD. All assets and liabilities in each statement of financial position are translated at the closing rate at the date of that statement of financial position. All income and expenses are translated at exchange rates at the dates of the transactions. Foreign currency transactions are translated into the respective functional currencies of the Company and its subsidiaries using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at period -end -monetary -monetary The results and financial position of the Company’s foreign subsidiaries that have a different functional currency from the Company’s functional and presentation currency are translated into USD as foll (i) (ii) (iii) | (b) Foreign currency Items included in the financial statements of each of the Company’s consolidated subsidiaries are measured using the currency of the primary economic environment in which each subsidiary operates (the functional currency). The consolidated financial statements are presented in USD. All assets and liabilities in each statement of financial position are translated at the closing rate at the date of that statement of financial position. All income and expenses are translated at exchange rates at the dates of the transactions. Foreign currency transactions are translated into the respective functional currencies of the Company and its subsidiaries using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at period -end -monetary -monetary The results and financial position of the Company’s foreign subsidiaries that have a different functional currency from the Company’s functional and presentation currency are translated into USD as follows: (i) (ii) (iii) |
Financial instruments | (c) (i) The Company initially recognizes a financial asset on the trade date at which the Company becomes a party to the contractual provisions of the instrument. Upon recognition of a financial asset, classification is made based on the business model for managing the asset and the asset’s contractual cash flow characteristics. The financial asset is initially recognized at its fair value and subsequently classified and measured as (i) amortized cost; (ii) fair value through other comprehensive income (“FVOCI”); or (iii) FVTPL. Financial assets are classified as FVTPL if they have not been classified as measured at amortized cost or FVOCI. The Company derecognizes a financial asset when the contractual rights to the cash flows from the asset expire, or it transfers the rights to receive the contractual cash flows on the financial asset in a transaction in which substantially all the risks and rewards of ownership of the financial asset are transferred. Financial assets and liabilities are offset and the net amount presented in the consolidated statements of financial position when, and only when, the Company has a legal right to offset the amounts and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. The Company has classified all of its financial assets as financial assets measured at amortized cost or FVTPL. The Company has not classified any financial assets as FVTPL or FVOCI. Financial assets measured at amortized cost A non -derivative (ii) The Company recognizes a financial liability on the trade date in which it becomes a party to the contractual provisions of the instrument at fair value plus any directly attributable costs. Financial liabilities are subsequently measured at amortized cost or FVTPL and are not subsequently reclassified. The Company’s financial liabilities are trade and other payables and loans and borrowings which are recognized on an amortized cost basis. Financial liabilities measured at amortized cost All financial liabilities are recognized initially on the trade date at which the Company becomes a party to the contractual provisions of the instrument. Such financial liabilities are recognized initially at fair value plus any directly attributable transaction costs. All financial liabilities are measured at amortized cost, except for financial liabilities measured at FVTPL. A financial liability may no longer be reclassified subsequent to initial recognition. Subsequent to initial recognition, financial liabilities are measured at amortized cost using the effective interest method. The Company derecognizes a financial liability when its contractual obligations are discharged or cancelled, or when they expire. The Company has the following non -derivative | (c) (i) The Company initially recognizes a financial asset on the trade date at which the Company becomes a party to the contractual provisions of the instrument. Upon recognition of a financial asset, classification is made based on the business model for managing the asset and the asset’s contractual cash flow characteristics. The financial asset is initially recognized at its fair value and subsequently classified and measured as (i) amortized cost; (ii) fair value through other comprehensive income (“FVOCI”); or (iii) FVTPL. Financial assets are classified as FVTPL if they have not been classified as measured at amortized cost or FVOCI. The Company derecognizes a financial asset when the contractual rights to the cash flows from the asset expire, or it transfers the rights to receive the contractual cash flows on the financial asset in a transaction in which substantially all the risks and rewards of ownership of the financial asset are transferred. Financial assets and liabilities are offset and the net amount presented in the consolidated statements of financial position when, and only when, the Company has a legal right to offset the amounts and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. The Company has classified all of its financial assets as financial assets measured at amortized cost or FVTPL. The Company has not classified any financial assets as FVTPL or FVOCI. Financial assets measured at amortized cost A non -derivative (ii) The Company recognizes a financial liability on the trade date in which it becomes a party to the contractual provisions of the instrument at fair value plus any directly attributable costs. Financial liabilities are subsequently measured at amortized cost or FVTPL and are not subsequently reclassified. The Company’s financial liabilities are trade and other payables and loans and borrowings which are recognized on an amortized cost basis. Financial liabilities measured at amortized cost All financial liabilities are recognized initially on the trade date at which the Company becomes a party to the contractual provisions of the instrument. Such financial liabilities are recognized initially at fair value plus any directly attributable transaction costs. All financial liabilities are measured at amortized cost, except for financial liabilities measured at FVTPL. A financial liability may no longer be reclassified subsequent to initial recognition. Subsequent to initial recognition, financial liabilities are measured at amortized cost using the effective interest method. The Company derecognizes a financial liability when its contractual obligations are discharged or cancelled, or when they expire. The Company has the following non -derivative |
Revenue from contracts with customers | (d) Revenue is measured based on the consideration specified in a contract with a customer. The Company recognizes revenue when it transfers control over a good or service to a customer. The Company records revenue upon transfer of promised goods or services to customers in amounts that reflect the consideration to which the Company expects to be entitled in exchange for those goods or services based on the following five step approach: Step 1: Identify the contracts with customers; Step 2: Identify the performance obligations in the contract; Step 3: Determine the transaction price; Step 4: Allocate the transaction price to the performance obligations in the contract; and Step 5: Recognize revenue as performance obligations are satisfied. The Company typically satisfies its performance obligations at a point in time, upon completion of sale. The Company primarily acts as principal in contracts with its customers. The Company does not have material obligations for returns, refunds and other similar obligations, nor warranties and related obligations. Revenue is recognized at the amount of the transaction price that is allocated to the performance obligation. The transaction price is the amount of consideration to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer. The Company has a single revenue stream currently that relates to the sale of cannabis -based The Company exercises judgments in determining the amount of the costs incurred to obtain or fulfil a contract with a customer, which includes, but is not limited to (a) the likelihood of obtaining the contract, (b) the estimate of the profitability of the contract, and (c) the credit risk of the customer. An impairment loss will be recognized in profit or loss to the extent that the carrying amount of the asset exceeds (a) the remaining amount of consideration that the entity expects to receive in exchange for the goods or services to which the asset relates, less (b) the costs that relate directly to providing those goods or services and that have not been recognized as expenses. | (d) Revenue is measured based on the consideration specified in a contract with a customer. The Company recognizes revenue when it transfers control over a good or service to a customer. The Company records revenue upon transfer of promised goods or services to customers in amounts that reflect the consideration to which the Company expects to be entitled in exchange for those goods or services based on the following five step approach: Step 1: Identify the contracts with customers; Step 2: Identify the performance obligations in the contract; Step 3: Determine the transaction price; Step 4: Allocate the transaction price to the performance obligations in the contract; and Step 5: Recognize revenue as performance obligations are satisfied. The Company typically satisfies its performance obligations at a point in time, upon completion of sale. The Company primarily acts as principal in contracts with its customers. The Company does not have material obligations for returns, refunds and other similar obligations, nor warranties and related obligations. Revenue is recognized at the amount of the transaction price that is allocated to the performance obligation. The transaction price is the amount of consideration to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer. The company has a single revenue stream currently that relates to the sale of cannabis -based The Company exercises judgments in determining the amount of the costs incurred to obtain or fulfil a contract with a customer, which includes, but is not limited to (a) the likelihood of obtaining the contract, (b) the estimate of the profitability of the contract, and (c) the credit risk of the customer. An impairment loss will be recognized in profit or loss to the extent that the carrying amount of the asset exceeds (a) the remaining amount of consideration that the entity expects to receive in exchange for the goods or services to which the asset relates, less (b) the costs that relate directly to providing those goods or services and that have not been recognized as expenses. |
Cash and cash equivalents | (e) The Company considers all liquid investments purchased with a maturity of three months or less at acquisition to be cash and cash equivalents, which are carried and classified at amortized cost. The Company did not | (e) The Company considers all liquid investments purchased with a maturity of three months or less at acquisition to be cash and cash equivalents, which are carried and classified at amortized cost. The Company did not hold any cash equivalents as of December 31, 2021 and 2020. |
Inventories | (f) Inventories consist of raw materials and are measured at the lower of cost and net realizable value. The cost of inventories is based on the first -in -out -down | (f) Inventories consist of raw materials and are measured at the lower of cost and net realizable value. The cost of inventories is based on the first -in -out -down |
Biological assets | (g) Biological assets are measured at their fair value less costs to sell in the consolidated statement of financial position. The Company’s method of accounting for biological assets attributes value accretion on a straight -line Biological assets and produce held by the Company is planned to be used in four possible ways: ☐ Sale to the export market; ☐ Sale to the local market; ☐ Repurposed for use in research and development; and ☐ Written off for being obsolete. | (g) Biological assets are measured at their fair value less costs to sell in the Statement of Financial Position. The Company’s method of accounting for biological assets attributes value accretion on a straight -line Biological assets and produce held by the Company is planned to be used in four possible ways: ☐ Sale to the export market; ☐ Sale to the local market; ☐ Repurposed for use in research and development; and ☐ Written off for being obsolete. |
Property, plant and equipment | Property, plant and equipment (i) Items of property and equipment are measured at cost less accumulated depreciation and accumulated impairment losses. When parts of an item of property and equipment have different estimated useful lives, they are accounted for as separate items within property and equipment. The costs of the ongoing regular servicing of property and equipment are recognized in tin the period in which they are ind. (ii) Depreciation is recognized in profit or loss over the estimated useful lives of each part of an item of property and equipment in a manner that most closely reflects management’s estimated future consumption of the future economic benefits embodied in the asset. The estimated useful lives for the current and comparative periods are as follows: Plant and equipment 10 years Leasehold improvements 20 years Motor Vehicles 4 years Computers 3 years Furniture and fixtures 6 y | (h) (i) Items of property and equipment are measured at cost less accumulated depreciation and accumulated impairment losses. When parts of an item of property and equipment have different estimated useful lives, they are accounted for as separate items within property and equipment. The costs of the ongoing regular servicing of property and equipment are recognized in tin the period in which they are incurred. (ii) Depreciation is recognized in profit or loss over the estimated useful lives of each part of an item of property and equipment in a manner that most closely reflects management’s estimated future consumption of the future economic benefits embodied in the asset. The estimated useful lives for the current and comparative periods are as follows: Plant and equipment 10 years Leasehold improvements 20 years Motor Vehicles 4 years Computers 3 years Furniture and fixtures 6 years |
Intangible assets | (i) Intangible assets are recorded at cost less amortization and impairment losses, if any. The Company had a cannabis operator’s license in Lesotho, held by its subsidiary Bophelo, which was valid for 10 years and was subject to a renewal at the end of the 10 years. The license automatically renewed annually on payment of necessary fees as well as submission of operational documents to the Ministry of Health. As a result of loss of control of Bophelo, the license was derecognized and recorded as a loss on the consolidated statement of loss and comprehensive loss. The Company also has a cannabis API manufacturing and GMP license in Portugal, held by its newly acquired subsidiary Holigen -RPK | (i) The Company has a cannabis operator’s license in Lesotho, held by its subsidiary Bophelo, which is valid for 10 10 Additionally, the Company has cannabis distribution licenses in the United Kingdom held by its subsidiary, Canmart which have been assessed as having an indefinite useful life. As such, these licenses are not amortized but their recoverable amounts are tested annually for impairment. The indefinite intangible assets are recorded at cost less impairment losses, if any. The Company capitalizes the initial license application cost as the cost of intangible assets while the annual license renewal fees are expensed in the year during which they occur |
Impairment of non-financial assets | (j) The Company assesses at each reporting period whether there is an indication that a non -financial -tax Impairment losses recognized in prior periods are assessed at each reporting date for any indications that the loss has decreased or no longer exists. An impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount. An impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been determined, net of amortization, if no impairment loss had been recognized. | (j) -financial assets The Company assesses at each reporting period whether there is an indication that a non -financial -tax Impairment losses recognized in prior periods are assessed at each reporting date for any indications that the loss has decreased or no longer exists. An impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount. An impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been determined, net of amortization, if no impairment loss had been recognized. |
Income taxes | (k) Income tax expense comprises current and deferred taxes. Current taxes and deferred taxes are recognized in profit or loss except to the extent that it relates to a business combination, or items recognized directly in equity or in other comprehensive loss. Current taxes are the expected tax receivable or payable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the reporting date, and any adjustment to tax receivable or payable in respect of previous years. Deferred taxes are recognized in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred taxes are not recognized for the following temporary differences: the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable profit or loss, and differences relating to investments in subsidiaries and jointly controlled entities to the extent that it is probable that they will not reverse in the foreseeable future. In addition, deferred taxes are not recognized for taxable temporary differences arising on the initial recognition of goodwill. Deferred taxes are measured at the tax rates that are expected to be applied to temporary differences when they reverse, based on the tax laws that have been enacted or substantively enacted by the reporting date. Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax assets and liabilities, and they relate to income taxes levied by the same tax authority on the same taxable entity, or on different tax entities, but they intend to settle current tax assets and liabilities on a net basis or their tax assets and liabilities will be realized simultaneously. A deferred tax asset is recognized for unused tax losses, tax credits and deductible temporary differences, to the extent that it is probable that future taxable profits will be available against which they can be utilized. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized. | (k) Income tax expense comprises current and deferred taxes. Current taxes and deferred taxes are recognized in profit or loss except to the extent that it relates to a business combination, or items recognized directly in equity or in other comprehensive loss. Current taxes are the expected tax receivable or payable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the reporting date, and any adjustment to tax receivable or payable in respect of previous years. Deferred taxes are recognized in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred taxes are not recognized for the following temporary differences: the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable profit or loss, and differences relating to investments in subsidiaries and jointly controlled entities to the extent that it is probable that they will not reverse in the foreseeable future. In addition, deferred taxes are not recognized for taxable temporary differences arising on the initial recognition of goodwill. Deferred taxes are measured at the tax rates that are expected to be applied to temporary differences when they reverse, based on the tax laws that have been enacted or substantively enacted by the reporting date. Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax assets and liabilities, and they relate to income taxes levied by the same tax authority on the same taxable entity, or on different tax entities, but they intend to settle current tax assets and liabilities on a net basis or their tax assets and liabilities will be realized simultaneously. A deferred tax asset is recognized for unused tax losses, tax credits and deductible temporary differences, to the extent that it is probable that future taxable profits will be available against which they can be utilized. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized. |
Leases | l) At inception of a contract, the Company assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The Company assesses whether the contract involves the use of an identified asset, whether the right to obtain substantially all of the economic benefits from use of the asset during the term of the arrangement exists, and if the Company has the right to direct the use of the asset. At inception or on reassessment of a contract that contains a lease component, the Company allocates the consideration in the contract to each lease component on the basis of their relative standalone prices. As a lessee, the Company recognizes a right -of-use -of-use The right -of-use -of-use A lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted by the interest rate implicit in the lease, or if that rate cannot be readily determined, the incremental borrowing rate. Lease payments included in the measurement of the lease liability are comprised of: a) -substance b) c) d) e) The lease liability is measured at amortized cost using the effective interest method. It is remeasured when there is a change in future lease payments arising from a change in an index or rate, or if there is a change in the estimate or assessment of the expected amount payable under a residual value guarantee, purchase, extension or termination option. Variable lease payments not included in the initial measurement of the lease liability are charged directly to profit or loss. | (l) At inception of a contract, the Company assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The Company assesses whether the contract involves the use of an identified asset, whether the right to obtain substantially all of the economic benefits from use of the asset during the term of the arrangement exists, and if the Company has the right to direct the use of the asset. At inception or on reassessment of a contract that contains a lease component, the Company allocates the consideration in the contract to each lease component on the basis of their relative standalone prices. As a lessee, the Company recognizes a right -of-use -of-use The right -of-use -of-use A lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted by the interest rate implicit in the lease, or if that rate cannot be readily determined, the incremental borrowing rate. Lease payments included in the measurement of the lease liability are comprised of: a) -substance b) c) d) e) The lease liability is measured at amortized cost using the effective interest method. It is remeasured when there is a change in future lease payments arising from a change in an index or rate, or if there is a change in the estimate or assessment of the expected amount payable under a residual value guarantee, purchase, extension or termination option. Variable lease payments not included in the initial measurement of the lease liability are charged directly to profit or loss. |
Earnings per share | (m) The Company presents basic loss per share (“LPS”) data for its ordinary shares. Basic LPS is calculated by dividing the profit or loss attributable to ordinary shareholders of the Company by the weighted average number of ordinary shares outstanding during the year, adjusted for the Company’s own shares held. Diluted LPS is computed similar to basic LPS except that the weighted average shares outstanding are increased to include additional shares for the assumed exercise of any exercisable instruments, if dilutive. The number of additional shares is calculated by assuming that outstanding exercisable instruments were exercised and that the proceeds from such exercise were used to acquire Common Shares at the average market price during the reporting periods. | (m) The Company presents basic earnings per share (“EPS”) data for its ordinary shares. Basic EPS is calculated by dividing the profit or loss attributable to ordinary shareholders of the Company by the weighted average number of ordinary shares outstanding during the period, adjusted for the Company’s own shares held. Diluted EPS is computed similar to basic EPS except that the weighted average shares outstanding are increased to include additional shares for the assumed exercise of any exercisable instruments, if dilutive. The number of additional shares is calculated by assuming that outstanding exercisable instruments were exercised and that the proceeds from such exercise were used to acquire Common Shares at the average market price during the reporting periods. |
New standards issued not yet adopted | (n) In January 2020, the IAS issued an amendment to IAS 1 Presentation of Financial Statements that clarifies the criterion for classifying a liability as non -current 1. -current 2. The amendment applies to annual reporting periods beginning on or after January 1, 2023 and is applied retrospectively upon adoption. The Company does not expect the amendments to have a significant impact on the consolidated financial statements upon adoption. | (n) In January 2020, the IAS issued an amendment to IAS 1 Presentation of Financial Statements that clarifies the criterion for classifying a liability as non -current 3. -current 4. The amendment applies to annual reporting periods beginning on or after January 1, 2023, and is applied retrospectively upon adoption. The Company does not expect the amendments to have a significant impact on the consolidated financial statements upon adoption. |
Business Combination (Tables)
Business Combination (Tables) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
Business Combination [Abstract] | ||
Schedule of the Acquisition-Date Fair Value of Each Major Class of Purchase | The following table summarizes the acquisition -date Cash $ 2,600,000 Holdback payable 400,000 Fair value of 190,000 Common Shares of the Company 16,131,000 Total consideration $ 19,131,000 | The following table summarizes the acquisition -date Cash $ 2,600,000 Holdback payable 400,000 Fair value of 1,900,000 Common Shares of the Company 16,131,000 Total consideration $ 19,131,000 |
Schedule of the Fair Value of the Identifiable Assets and Liabilities | The following table summarizes the fair value of the identifiable assets and liabilities as at the date of acquisition: Cash $ 233,407 Accounts receivable 605,579 Biological assets 200,457 Inventory 904,006 Prepayments 179,597 Intangible assets 24,665,772 Property, plant and equipment, net 12,936,374 Trade and other payables (3,775,599 ) Loans and borrowing (4,058,030 ) Net assets acquired $ 31,891,563 | The following table summarizes the fair value of the identifiable assets and liabilities as at the date of acquisition: Cash $ 233,407 Accounts receivable 605,579 Biological assets 200,457 Inventory 904,006 Prepayments 179,597 Intangible assets 24,665,772 Property, plant and equipment, net 12,936,374 Trade and other payables (3,775,599 ) Loans and borrowing (4,058,030 ) Net assets acquired $ 31,891,563 |
Loss of Control of Bophelo Bi_2
Loss of Control of Bophelo Bio Science and Wellness (Pty) Ltd. (Tables) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
Loss of Control of Bophelo Bio Science and Wellness (Pty) Ltd. [Abstract] | ||
Schedule of Financial Performance and Cash Fow Information | Set out below is the financial performance and cash flow information for the years ended December 31, 2022 related to the discontinued operation: Years ended December 31, 2022 Revenue $ 31,123 Operating expenses (1,244,691 ) Other expenses (123,033 ) (1,336,601 ) Loss on loss of control of subsidiary (2,085,624 ) Loss on discontinued operations $ (3,422,225 ) Exchange differences on translation of discontinued operations $ (450,040 ) Other comprehensive income from discontinued operations $ (450,040 ) Years ended December 31, 2022 Cash flows provided by operating activities $ 1,060,350 Cash flows used in investing activities (1,003,529 ) Cash flows provided by (used in) financing activities (95,696 ) Effects of exchange rate changes on cash and cash equivalents 18,909 Net change in cash provided by (used in) the subsidiary $ (19,966 ) Carrying amount of net assets immediately prior to loss of control of subsidiary $ 2,375,840 Reclassification of foreign currency translation reserve (290,216 ) Loss on loss of control of subsidiary $ 2,085,624 | Set out below is the financial performance and cash flow information for the years ended December 31, 2022 and 2021 related to the discontinued operation: Years ended December 31, 2022 2021 Revenue $ 31,123 $ — Operating expenses (1,244,691 ) (3,550,441 ) Other expenses (123,033 ) (2,107,053 ) (1,336,601 ) (5,657,494 ) Loss on loss of control of subsidiary (2,085,624 ) — Loss on discontinued operations $ (3,422,225 ) $ (5,657,494 ) Exchange differences on translation of discontinued operations $ (450,040 ) $ 636,135 Other comprehensive income from discontinued operations $ (450,040 ) $ 636,135 Cash flows provided by operating activities $ 1,060,350 $ 7,414,607 Cash flows used in investing activities (1,003,529 ) (570,864 ) Cash flows provided by (used in) financing activities (95,696 ) 6,832,634 Effects of exchange rate changes on cash and cash equivalents 18,909 (1,263 ) Net change in cash provided by (used in) the subsidiary $ (19,966 ) $ 9,846 Carrying amount of net assets immediately prior to loss of control of $ 2,375,840 $ — Reclassification of foreign currency translation reserve (290,216 ) — Loss on loss of control of subsidiary $ 2,085,624 $ — |
Schedule of Carrying Amounts of Assets and Liabilities | As at December 31, 2022, the carrying amounts of assets and liabilities of Bophelo Bio Science and Wellness (Pty) Ltd were as follows: Cash $ 739,947 Accounts receivable 21,854 Prepayments 578,070 Property, plant and equipment 1,887,435 Right-of-use assets 1,745,205 Intangible assets 210,402 Total assets $ 5,182,913 Trade and other payables 115,120 Lease liability 2,375,590 Long-term debt 316,363 Total liabilities $ 2,807,073 Net assets $ 2,375,840 | As at December 31, 2022, the carrying amounts of assets and liabilities of Bophelo Bio Science and Wellness (Pty) Ltd were as follows: Cash $ 739,947 Accounts receivable 21,854 Prepayments 578,070 Property, plant and equipment 1,887,435 Right-of-use assets 1,745,205 Intangible assets 210,402 Total assets $ 5,182,913 Trade and other payables 115,120 Lease liability 2,375,590 Long-term debt 316,363 Total liabilities $ 2,807,073 Net assets $ 2,375,840 |
Trade and Other Receivables (Ta
Trade and Other Receivables (Tables) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Trade and Other Receivables [Abstract] | |||
Schedule of Trade and Other Receivables | June 30, December 31, Trade accounts receivable $ 294,021 $ 720,085 Sales taxes receivable 19,020 91,416 Other receivables 344,527 424,118 $ 657,568 $ 1,235,619 | December 31, December 31, Trade accounts receivable $ 720,085 $ 29,457 Sales taxes receivable 91,416 212,900 Other receivables 424,118 — $ 1,235,619 $ 242,357 | As at December 3 2021 2020 Trade accounts receivable $ 29,457 $ — Sales taxes receivable 212,900 — $ 242,357 $ — |
Inventory (Tables)
Inventory (Tables) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Inventory [Abstract] | |||
Schedule of Reconciliation of the Company’s Biological Assets | Set out below is a reconciliation of the Company’s biological assets as at June 30, 2023 and December 31, 2022: As at, June 30, 2023 December 31, 2022 Balance, beginning of the period $ 809,180 $ — Acquisition (note 4) — 200,457 Gain (loss) on change in fair value of biological assets (562,045 ) 580,411 Movement in exchange rate 10,009 28,312 Balance, end of the period $ 257,144 $ 809,180 | Set out below is a reconciliation of the Company’s biological assets as at December 31, 2022 and 2021: For the years ended December 3 2022 2021 Balance, beginning of the year $ — $ — Requisition of raw materials from inventory — 202,900 Capitalized costs — 490,672 Acquisition (note 4) 200,457 — Gain (loss) on change in fair value of biological assets 580,411 (693,572 ) Movement in exchange rate 28,312 — $ 809,180 $ — | Set out below is a reconciliation of the Company’s biological assets as at December 31, 2021 and as at December 31, 2020: For the period ended December 2021 2020 Balance, beginning of the period $ — $ — Requisition of raw materials from inventory 202,900 — Capitalized costs 490,672 — Loss on change in fair value of biological assets (693,572 ) — $ — $ — |
Marketable Securities (Tables)
Marketable Securities (Tables) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
Marketable Securities [Abstract] | ||
Schedule of Investment | Set out below is a reconciliation of the movement of the Company’s investment during the six months ended June 30, 2023 and the year ended December 31, 2022: Balance, December 31, 2021 $ — Purchase of investment 801,160 Change in fair value (516,281 ) Movement in exchange rate (21,188 ) Balance, December 31, 2022 263,691 Change in fair value 464 Movement in exchange rate 5,845 Balance, June 30, 2023 (*) $ 270,000 (*) | Set out below is a reconciliation of the movement of the Company’s investment during the year ended December 31, 2022: Balance, December 31, 2021 $ — Purchase of investment 801,160 Change in fair value (516,281 ) Movement in exchange rate (21,188 ) Balance, December 31, 2022 (*) $ 263,691 (*) |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Property, Plant and Equipment [Abstract] | |||
Schedule of Property, Plant and Equipment | Cost Land Plant and Leasehold Motor Computers Furniture Capital Total Balance, December 31, 2021 $ — $ 590,011 $ 1,089,694 $ 47,623 $ 10,124 $ 4,695 $ 464,253 $ 2,206,400 Acquisitions (note 4) 872,336 11,817,462 — 89,513 32,703 124,360 — 12,936,374 Additions — 108,933 66,110 10,489 13,348 3,435 108,631 310,946 Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. — (663,404 ) (1,088,572 ) (54,767 ) (14,851 ) (5,436 ) (437,117 ) (2,264,147 ) Foreign exchange movements 12,901 282,219 (67,232 ) (603 ) 1,115 2,181 (135,767 ) 94,814 Balance, December 31, 2022 885,237 12,135,221 — 92,255 42,439 129,235 — 13,284,387 Additions — — 1,490 — 408 37 — 1,935 Foreign exchange movements 15,382 255,388 40 3,270 3,443 3,168 — 280,691 Balance, June 30, 2023 $ 900,619 $ 12,390,609 $ 1,530 $ 95,525 $ 46,290 $ 132,440 $ — $ 13,567,013 Accumulated depreciation Land Plant and Leasehold Motor Computers Furniture Capital Total Balance, December 31, 2021 $ — $ 174,854 $ 108,623 $ 23,505 $ 1,206 $ 464 $ — $ 308,652 Depreciation — 972,872 — 27,883 22,942 13,490 — 1,037,187 Depreciation – Bophelo — 32,549 49,538 6,577 20,832 463 — 109,959 Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. — (195,441 ) (149,161 ) (28,357 ) (2,877 ) (876 ) — (376,712 ) Foreign exchange movements — 68,415 (9,000 ) 911 (15,759 ) 1,230 — 45,797 Balance, December 31, 2022 — 1,053,249 — 30,519 26,344 14,771 — 1,124,883 Depreciation — 771,232 149 19,594 8,629 10,656 — 810,260 Foreign exchange movements — 68,383 4 2,339 3,097 1,211 — 75,034 Balance, June 30, 2023 $ — $ 1,892,864 $ 153 $ 52,452 $ 38,070 $ 26,638 $ — $ 2,010,177 Net book value Land Plant and Leasehold Motor Computers Furniture Capital Total Balance, December 31, 2022 $ 885,237 $ 11,081,972 $ — $ 61,736 $ 16,095 $ 114,464 $ — $ 12,159,504 Balance, June 30, 2023 $ 900,619 $ 10,497,745 $ 1,377 $ 43,073 $ 8,220 $ 105,802 $ — $ 11,556,836 | Co st Land Plant equipment Leasehold Improvements Motor Vehicles Computers Furniture fixtures Capital progress Total Balance, December 31, 2020 $ — $ 586,360 $ 293,437 $ 36,998 $ — $ — $ 883,145 $ 1,799,940 Additions — 53,808 493,136 14,214 10,427 4,887 — 576,472 Reclassifications — — 360,695 — — — (360,695 ) — Foreign exchange movements — (50,157 ) (57,574 ) (3,589 ) (303 ) (192 ) (58,197 ) (170,012 ) Balance, December 31, 2021 $ — $ 590,011 $ 1,089,694 $ 47,623 $ 10,124 $ 4,695 $ 464,253 $ 2,206,400 Acquisitions (note 4) 872,336 11,817,462 — 89,513 32,703 124,360 — 12,936,374 Additions — 108,933 66,110 10,489 13,348 3,435 108,631 310,946 Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. — (663,404 ) (1,088,572 ) (54,767 ) (14,851 ) (5,436 ) (437,117 ) (2,264,147 ) Foreign exchange movements 12,901 282,219 (67,232 ) (603 ) 1,115 2,181 (135,767 ) 94,814 Balance, December 31, 2022 $ 885,237 $ 12,135,221 $ — $ 92,255 $ 42,439 $ 129,235 $ — $ 13,284,387 Accumulated depreciation Land Plant equipment Leasehold Improvements Motor Vehicles Computers Furniture fixtures Capital progress Total Balance, December 31, 2020 $ — $ 123,710 $ 36,324 $ 13,874 $ — $ — $ — $ 173,908 Depreciation — 63,785 78,352 11,208 1,245 483 — 155,073 Foreign exchange movements — (12,641 ) (6,053 ) (1,577 ) (39 ) (19 ) — (20,329 ) Balance, December 31, 2021 $ — $ 174,854 $ 108,623 $ 23,505 $ 1,206 $ 464 $ — $ 308,652 Depreciation — 972,872 — 27,883 22,942 13,490 — 1,037,187 Depreciation – Bophelo — 32,549 49,538 6,577 20,832 463 — 109,959 Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. — (195,441 ) (149,161 ) (28,357 ) (2,877 ) (876 ) — (376,712 ) Foreign exchange movements — 68,415 (9,000 ) 911 (15,759 ) 1,230 — 45,797 Balance, December 31, 2022 $ — $ 1,053,249 $ — $ 30,519 $ 26,344 $ 14,771 $ — $ 1,124,883 Net book value Land Plant equipment Leasehold Improvements Motor Vehicles Computers Furniture fixtures Capital progress Total Balance, December 31, 2021 $ — $ 415,157 $ 981,071 $ 24,118 $ 8,918 $ 4,231 $ 464,253 $ 1,897,748 Balance, December 31, 2022 $ 885,237 $ 11,081,972 $ — $ 61,736 $ 16,095 $ 114,464 $ — $ 12,159,504 | Cost Plant and equipment Leasehold Improvements Motor Vehicles Computers Furniture and fixtures Capital work-in- progress Total Balance, December 31, 2019 $ 449,044 $ 304,770 $ 38,427 $ — $ — $ 616,377 $ 1,408,618 Additions 172,369 — — — — 266,768 439,137 Write-offs (23,748 ) — — — — — (23,748 ) Foreign exchange movements (11,305 ) (11,333 ) (1,429 ) — — — (24,067 ) Balance, December 31, 2020 $ 586,360 $ 293,437 $ 36,998 $ — $ — $ 883,145 $ 1,799,940 Additions 53,808 493,136 14,214 10,427 4,887 — 576,472 Reclassifications — 360,695 — — — (360,695 ) — Foreign exchange movements (50,157 ) (57,574 ) (3,589 ) (303 ) (192 ) (58,197 ) (170,012 ) Balance, December 31, 2021 $ 590,011 $ 1,089,694 $ 47,623 $ 10,124 $ 4,695 $ 464,253 $ 2,206,400 A ccumulated depreciation Plant and equipment Leasehold Improvements Motor Vehicles Computers Furniture and fixtures Capital work-in- progress Total Balance, December 31, 2019 $ 67,113 $ 22,489 $ 4,803 $ — $ — $ — $ 94,405 Depreciation 60,212 14,950 9,425 — — — 84,587 Foreign exchange movements (3,615 ) (1,115 ) (354 ) — — — (5,084 ) Balance, December 31, 2020 $ 123,710 $ 36,324 $ 13,874 $ — $ — $ — $ 173,908 Depreciation 63,785 78,352 11,208 1,245 483 — 155,073 Foreign exchange movements (12,641 ) (6,053 ) (1,577 ) (39 ) (19 ) — (20,329 ) Balance, December 31, 2021 $ 174,854 $ 108,623 $ 23,505 $ 1,206 $ 464 $ — $ 308,652 Net book value Plant and equipment Leasehold Improvements Motor Vehicles Computers Furniture and fixtures Capital work-in- progress Total Balance, December 31, 2020 $ 462,650 $ 257,113 $ 23,124 $ — $ — $ 883,145 $ 1,626,032 Balance, December 31, 2021 $ 415,157 $ 981,071 $ 24,118 $ 8,918 $ 4,231 $ 464,253 $ 1,897,748 |
Right-of-Use Assets (Tables)
Right-of-Use Assets (Tables) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Right-of-Use Assets [Abstract] | |||
Schedule of Right-of-Use Assets | The details of the right -of-use Land lease Office lease Total Balance, December 31, 2021 $ 1,908,877 $ — $ 1,908,877 Additions — 432,335 432,335 Amortization — (88,764 ) (88,764 ) Amortization – Bophelo (55,041 ) — (55,041 ) Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. (1,745,205 ) — (1,745,205 ) Movement in exchange rates (108,631 ) (19,501 ) (128,132 ) Balance, December 31, 2022 — 324,070 324,070 Amortization — (102,840 ) (102,840 ) Movement in exchange rates — 5,412 5,412 Balance, June 30, 2023 $ — $ 226,642 $ 226,642 | The details of the right -of-use Land lease Office lease Total Balance, December 31, 2020 $ 2,199,779 $ — $ 2,199,779 Additions — — — Amortization (115,183 ) — (115,183 ) Movement in exchange rates (175,719 ) — (175,719 ) Balance, December 31, 2021 1,908,877 — 1,908,877 Additions — 432,335 432,335 Amortization — (88,764 ) (88,764 ) Amortization – Bophelo (55,041 ) — (55,041 ) Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. (1,745,205 ) — (1,745,205 ) Movement in exchange rates (108,631 ) (19,501 ) (128,132 ) Balance, December 31, 2022 $ — $ 324,070 $ 324,070 | Land lease Balance, December 31, 2019 $ 2,409,934 Additions — Amortization (56,292 ) Movement in exchange rates (153,863 ) Balance, December 31, 2020 $ 2,199,779 Additions — Amortization (115,183 ) Movement in exchange rates (175,719 ) Balance, December 31, 2021 $ 1,908,877 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Intangible Assets [Abstract] | |||
Schedule of Intangible Assets | Cost: Software Licences Total Balance, December 31, 2021 $ — $ 389,456 $ 389,456 Acquisitions (note 4) 17,548 24,648,224 24,665,772 Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. — (350,670 ) (350,670 ) Movement in exchange rates 633 (23,521 ) (22,888 ) Balance, December 31, 2022 18,181 24,663,489 24,681,670 Movement in exchange rates 755 722 1,477 Balance, June 30, 2023 $ 18,936 $ 24,664,211 $ 24,683,147 Accumulated amortization: Software Licences Total Balance, December 31, 2021 $ — $ 130,354 $ 130,354 Amortization 7,550 2,464,822 2,472,372 Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. — (140,268 ) (140,268 ) Movement in exchange rates 704 9,914 10,618 Balance, December 31, 2022 8,254 2,464,822 2,473,076 Amortization 4,534 1,232,411 1,236,945 Movement in exchange rates 616 — 616 Balance, June 30, 2023 $ 13,404 $ 3,697,233 $ 3,710,637 Net book value Software Licences Total Balance, December 31, 2022 $ 9,927 $ 22,198,667 $ 22,208,594 Balance, June 30, 2023 $ 5,532 $ 20,966,978 $ 20,972,510 | Cost: Software Licences Total Balance, December 31, 2020 $ — $ 422,826 $ 422,826 Movement in exchange rates — (33,370 ) (33,370 ) Balance, December 31, 2021 $ — $ 389,456 $ 389,456 Acquisitions (note 4) 17,548 24,648,224 24,665,772 Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. — (350,670 ) (350,670 ) Movement in exchange rates 633 (23,522 ) (22,889 ) Balance, December 31, 2022 $ 18,181 $ 24,663,489 $ 24,681,670 Accumulated amortization: Software Licences Total Balance, December 31, 2020 $ — $ 101,420 $ 101,420 Amortization — 38,766 38,766 Movement in exchange rates — (9,832 ) (9,832 ) Balance, December 31, 2021 $ — $ 130,354 $ 130,354 Amortization 7,550 2,464,822 2,472,372 Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. — (140,268 ) (140,268 ) Movement in exchange rates 704 9,914 10,618 Balance, December 31, 2022 $ 8,254 $ 2,464,822 $ 2,473,076 Net book value Software Licences Total Balance, December 31, 2021 $ — $ 259,102 $ 259,102 Balance, December 31, 2022 $ 9,927 $ 22,198,667 $ 22,208,594 | Cos Licences Balance, December 31, 2019 $ 437,911 Movement in exchange rates (15,085 ) Balance, December 31, 2020 $ 422,826 Movement in exchange rates (33,370 ) Balance, December 31, 2021 $ 389,456 Accumulated depreciatio Licences Balance, December 31, 2019 $ 63,202 Amortization 41,337 Movement in exchange rates (3,119 ) Balance, December 31, 2020 $ 101,420 Amortization 38,766 Movement in exchange rates (9,832 ) Balance, December 31, 2021 $ 130,354 Net book valu Licences Balance, December 31, 2020 $ 321,406 Balance, December 31, 2021 $ 259,102 |
Loan Receivable (Tables)
Loan Receivable (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Loan Receivable [Abstract] | |
Schedule of Loan Receivable | June 30, December 31, Loan to Cellen Life Sciences Limited $ 506,460 $ 483,588 |
Lease Liability (Tables)
Lease Liability (Tables) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Lease Liability [Abstract] | |||
Schedule of Lease Liability | Maturity Incremental borrowing rate June 30, December 31, 2022 Current 2023 10.25 % $ 225,265 $ 214,058 Non-current 2024 10.25 % 19,831 116,763 $ 245,096 $ 330,821 | Maturity Incremental December 31, December 31, Current 2022 10.25 % $ 214,058 $ 439,709 Non-current 2023 – 2039 10.25 % 116,763 1,978,997 $ 330,821 $ 2,418,706 | As at Maturity Incremental borrowing rate 2021 2020 Current 2022 10.25 % $ 439,709 $ 283,976 Non-current 2023 – 2039 10.25 % 1,978,997 2,598,176 $ 2,418,706 $ 2,882,152 |
Schedule of Lease Liability Recognized | The details of the lease liability recognized as at June 30, 2023 are as follows: Cost: Land Lease Office Lease Total Balance, December 31, 2021 $ 2,418,706 $ — $ 2,418,706 Present value of lease payments — 432,335 432,335 Accrued interest 103,816 17,059 120,875 Cash payments — (80,000 ) (80,000 ) Accounts payable — (20,000 ) (20,000 ) Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. (note 5) (2,375,590 ) — (2,375,590 ) Movement in exchange rates (146,932 ) (18,573 ) (165,505 ) Balance, December 31, 2022 — 330,821 330,821 Accrued interest — 15,701 15,701 Cash payments — (60,000 ) (60,000 ) Accounts payable — (60,000 ) (60,000 ) Movement in exchange rates — 18,574 18,574 Balance, June 30, 2023 $ — $ 245,096 $ 245,096 | The details of the lease liability recognized as at December 31, 2022 are as follows: Cos Land Lease Office Lease Total Balance, December 31, 2021 $ 2,418,706 $ — $ 2,418,706 Present value of lease payments — 432,335 432,335 Accrued interest 103,816 17,059 120,875 Cash payments — (80,000 ) (80,000 ) Accounts payable — (20,000 ) (20,000 ) Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. (note 5) (2,375,590 ) — (2,375,590 ) Movement in exchange rates (146,932 ) (18,573 ) (165,505 ) Balance, December 31, 2022 $ — $ 330,821 $ 330,821 | |
Schedule of Undiscounted Minimum Lease Payments Remaining | The Company has committed to the following undiscounted minimum lease payments remaining as at June 30, 2023: Year ended December 31: 2023 $ 120,000 2024 140,000 $ 260,000 | The Company has committed to the following undiscounted minimum lease payments remaining as at December 31, 2022: Year ended December 31 2023 $ 240,000 2024 140,000 $ 380,000 | The Company has committed to the following undiscounted minimum lease payments remaining as at December 31, 2021: Year ended December 31: 2022 $ 108,628 2023 260,708 2024 260,708 2025 260,708 2026 260,708 Thereafter 3,193,669 $ 4,345,129 |
Share Capital (Tables)
Share Capital (Tables) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Share Capital [Abstract] | |||
Schedule of Shares Issued and Outstanding | Cost: Number of shares Capital Balance, December 31, 2021 2,223,131 $ 7,255,695 Issuance of shares to ASDT 86,996 2,124,615 Issuance of shares from private placement 16,200 278,481 Issuance of shares upon conversion of note 164,574 6,559,000 Issuance of shares from IPO 400,000 14,654,593 Issuance of shares in Holigen acquisition (note 4) 190,000 16,131,000 Loss of control of Bophelo Bio — (156 ) Fair value of RSUs issued at $9.70 per share 112,456 1,090,832 Fair value of RSUs issued at $8.29 per share 67,567 560,135 Fair value of RSUs issued at $7.10 per share 60,810 431,757 Fair value of RSUs issued at $2.57 per share 82,000 210,740 Fair value of RSUs issued at $2.30 per share 60,000 138,000 Balance, December 31, 2022 3,463,734 49,434,692 Fair value of RSUs issued at $1.84 per share 421,052 774,736 Fair value of RSUs issued at $1.11 per share 161,295 179,037 Cancelled shares (20,620 ) (200,014 ) Balance, June 30, 2023 4,025,461 $ 50,188,451 | Co Number of Capital Balance, December 31, 2020 13,129,212 $ 1,636 Shares issued to founders 5,626,806 1 Seed subscription 468,900 250,000 Private Placement 2,126,400 4,804,058 Settlement of Bridge Loan 880,000 2,200,000 Balance, December 31, 2021 22,231,318 $ 7,255,695 Issuance of shares to ASDT 869,963 2,124,615 Issuance of shares from private placement 162,000 278,481 Issuance of shares upon conversion of note 1,645,745 6,559,000 Issuance of shares from IPO 4,000,000 14,654,593 Issuance of shares in Holigen acquisition (note 4) 1,900,000 16,131,000 Loss of control of Bophelo Bio — (156 ) Fair value of RSU’s issued at $0.97 per share 1,124,569 1,090,832 Fair value of RSU’s issued at $0.83 per share 675,676 560,135 Fair value of RSU’s issued at $0.71 per share 608,108 431,757 Fair value of RSU’s issued at $0.26 per share 820,000 210,740 Fair value of RSU’s issued at $0.23 per share 600,000 138,000 Balance, December 31, 2022 34,637,379 $ 49,434,692 | Shares issued and outstanding are as follows: Cost: Number of Capital Balance, December 31, 2019 13,129,212 $ 1,636 Balance, December 31, 2020 13,129,212 1,636 Shares issued to founders 5,626,806 1 Seed subscription 468,900 250,000 Private Placement 2,126,400 4,804,058 Settlement of Bridge Loan 880,000 2,200,000 Balance, December 31, 2021 22,231,318 $ 7,255,695 |
Schedule of Outstanding RSUs | A summary of the Company’s outstanding RSUs as at June 30, 2023 are as follows: Number of Balance, December 31, 2021 — Granted 780,400 Exercised (382,835 ) Balance, December 31, 2022 397,565 Granted 1,058,306 Cancelled (475,959 ) Exercised (582,347 ) Balance, June 30, 2023 397,565 | A summary of the Company’s outstanding RSUs as at December 31, 2022 are as follows: Number of RSUs Balance, December 31, 2021 — Granted 7,804,046 Exercised (3,828,353 ) Balance, December 31, 2022 3,975,693 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Related Party Transactions [Abstract] | |||
Schedule of Transactions with Key Management Personnel | The Company has identified its Board of Directors, Executive Chairman, Chief Executive Officer (“CEO”), Chief Operating Officer (“COO”), Chief Financial Officer (“CFO”) and its President as its key management personnel who have the authority and responsibility for planning, directing and controlling the Company’s main activities. For the six months ended June 30, 2023 2022 Key Management Remuneration $ 299,382 $ 1,079,324 Stock-based compensation — 487,885 $ 299,382 $ 1,567,209 | The Company has identified its Board of Directors, Executive Chairman, Chief Executive Officer (“CEO”), Chief Operating Officer (“COO”), Chief Financial Officer (“CFO”) and its President as its key management personnel who have the authority and responsibility for planning, directing and controlling the Company’s main activities. For the years ended December 31, 2022 2021 Key Management Remuneration $ 3,572,602 $ 1,148,206 Stock-based compensation 898,640 — Short term accommodation expense — 69,521 $ 4,471,242 $ 1,217,727 | The Company has identified its Board of Directors, Executive Chairman, Chief Executive Officer (“CEO”) and Chief Financial Officer (“CFO”) and its President as its key management personnel who have the authority and responsibility for planning, directing and controlling the Company’s main activities. For the years ended December 2021 2020 2019 Key Management Remuneration 1,148,206 259,035 116,481 Director Professional fees — 121,467 121,970 Short term accommodation expense 69,521 45,482 26,264 1,217,727 425,984 264,715 |
Financial Instruments (Tables)
Financial Instruments (Tables) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Financial Instruments [Abstract] | |||
Schedule of Financial Instruments | The following is a comparison by class of the carrying amounts and fair value of the Company’s financial instruments as at June 30, 2023 and December 31, 2022: June 30, 2023 December 31, 2022 Level Carrying amount Fair value Carrying amount Fair value Financial assets Financial assets measured at amortised cost: Cash and cash held in trust 1 443,338 443,338 228,794 228,794 Marketable securities 1 270,000 270,000 263,691 263,691 Trade and other receivables 2 657,568 657,568 1,235,619 1,235,619 Loan receivable 2 506,460 506,460 483,588 483,588 Financial liabilities Financial liabilities measure at amortised cost: Trade and other payables 2 8,460,194 8,460,194 7,139,817 7,139,817 Loans and borrowings 2 4,941,318 4,941,318 3,568,896 3,568,896 Holdback payable 2 400,000 400,000 377,465 377,465 Lease liabilities 2 245,096 245,096 330,821 330,821 Due to related party 2 811,905 811,905 679,617 679,617 | The following is a comparison by class of the carrying amounts and fair value of the Company’s financial instruments as at December 31, 2022 and 2021: Level 2022 2021 Carrying amount Fair Carrying amount Fair Financial assets Financial assets measured at amortised cost: Cash and cash held in trust 1 228,794 228,794 3,495,390 3,495,390 Marketable securities 1 263,691 263,691 — — Trade and other receivables 2 1,235,619 1,235,619 242,357 242,357 Loan receivable 2 483,588 483,588 — — Financial liabilities Financial liabilities measure at amortised cost: Trade and other payables 2 7,139,817 7,139,817 680,328 680,328 Loans and borrowings 2 3,568,896 3,568,896 432,201 432,201 Holdback payable 2 377,465 377,465 — — Lease liabilities 2 330,821 330,821 2,418,706 2,418,706 Due to related party 2 679,617 679,617 — — Secured convertible debenture 2 — — 6,716,190 6,716,190 | The following is a comparison by class of the carrying amounts and fair value of the Company’s financial instruments as at December 31, 2021 and 2020: 2021 2020 As Level Carrying amount Fair Carrying amount Fair Financial asset Financial assets measured at amortized cost: Cash 1 $ 3,495,390 3,495,390 $ 13,504 13,504 Trade and other receivables 2 242,357 242,357 — — Financial liabilitie Financial assets measured at amortized cost: Trade and other payables 2 $ 680,328 680,328 $ 183,895 183,895 Loans and borrowings 2 432,201 432,210 6,240,713 6,240,713 Lease liabilities 2 2,418,706 2,418,706 2,882,152 2,882,152 Secured convertible debenture 2 6,716,190 6,716,190 — — |
Risks Arising from Financial _2
Risks Arising from Financial Instruments and Risk Management (Tables) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Risks Arising from Financial Instruments and Risk Management [Abstract] | |||
Schedule of Foreign Currency Denominated Financial Assets and Liabilities | The Company is exposed to currency risk from the British Pound (“GBP”), Euro (“EUR”) and Canadian dollar (“CAD”) through the following foreign currency denominated financial assets and liabilities: As at (expressed in GBP) June 30, December 31, 2022 Financial assets Cash and cash held in trust £ 8,155 £ 75,315 Trade and other receivables 86,020 149,223 Loan receivable 400,000 400,000 £ 494,175 £ 624,538 Financial liabilities Trade and other payables £ 929,526 £ 923,725 Loans and borrowings 31,514 25,000 £ 961,040 £ 948,725 As at (expressed in EUR) June 30, December 31, 2022 Financial assets Cash € 360,742 € 42,664 Trade and other receivables 504,075 986,320 € 864,817 € 1,028,984 Financial liabilities Trade and other payables € 3,602,806 € 3,201,180 Loans and borrowings 3,170,873 3,307,633 € 6,773,679 € 6,508,813 As at (expressed in CAD) June 30, December 31, 2022 Financial assets Cash $ 53,475 $ 140,423 Marketable securities 357,768 357,143 $ 411,243 $ 497,566 Financial liabilities Trade and other payables $ 4,547,627 $ 3,629,380 Due to related party 982,859 810,206 Holdback payable 511,238 511,238 Lease liabilities 324,768 448,064 Loans and borrowings 1,921,491 — $ 8,287,983 $ 5,398,888 | Foreign exchange risk: is the risk that the fair value of future cash flows for financial instruments will fluctuate because of changes in foreign exchange rates. The Company has not entered into any foreign exchange hedging contracts. The Company is exposed to currency risk from the British Pound (“GBP”), Euro (“EUR”), Lesotho Loti (“LSL”) and Canadian dollar (“CAD”) through the following foreign currency denominated financial assets and liabilities: As at December 31 (expressed in GB 2022 2021 Financial assets Cash and cash held in trust £ 75,315 £ 2,577,674 Trade and other receivables 149,223 30,983 Loan receivable 400,000 — £ 624,538 £ 2,608,657 Financial liabilities Trade and other payables £ 923,725 £ 239,763 Loans and borrowings 25,000 — £ 948,725 £ 239,763 As at December 31 (expressed in EU 2022 2021 Financial assets Cash € 42,664 € — Trade and other receivables 986,320 — 1,028,984 € — Financial liabilities Trade and other payables € 3,201,180 € — Loans and borrowings 3,307,633 — € 6,508,813 € — As at December 31 (expressed in CA 2022 2021 Financial assets Cash $ 140,423 $ 255,880 Marketable securities 357,143 — $ 497,566 $ 255,880 Financial liabilities Trade and other payables $ 3,629,380 $ 234,711 Due to related party 810,206 — Holdback payable 511,238 — Lease liabilities 448,064 — $ 5,398,888 $ 234,711 As at December 31 (expressed in LS 2022 2021 Financial assets Cash L L L L Financial liabilities Lease liabilities L L Loans and borrowings — 7,846,551 L L | Foreign exchange risk: is the risk that the fair value of future cash flows for financial instruments will fluctuate because of changes in foreign exchange rates. The Company has not entered into any foreign exchange hedging contracts. The Company is exposed to currency risk from the British Pound (“GBP”), Lesotho Loti (“LSL”) and Canadian dollar (“CAD”) through the following foreign currency denominated financial assets and liabilities: As at December 31 (expressed in GB 2021 2020 Financial assets Cash £ 2,577,674 £ — Trade and other receivables 30,983 344 £ 2,608,657 £ — Financial liabilities Trade and other payables £ 239,763 £ £ 239,763 £ As at December 31 (expressed in CA 2021 2020 Financial assets Trade and other receivables $ 255,880 $ — $ 255,880 $ — Financial liabilities Trade and other payables $ 234,711 $ — $ 234,711 $ — As at December 31 (expressed in LS 2021 2020 Financial assets Cash L L Trade and other receivables L L Financial liabilities Lease liabilities L L Loans and borrowings 7,846,551 — L L |
Segmented Information (Tables)
Segmented Information (Tables) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Segmented Information [Abstract] | |||
Schedule of Information about the Assets, Liabilities and Profit or Loss From Each Segment | Set out below is information about the assets and liabilities as at June 30, 2023 and December 31, 2022 and profit or loss from each segment for the six months ended June 30, 2023 and 2022: As at June 30, 2023 Financial statement line item: Cultivation Distribution Corporate Total Reportable segment assets $ 35,060,640 $ 706,704 $ 740,212 $ 36,507,556 Reportable segment liabilities 7,375,430 1,214,129 6,268,954 14,858,513 As at December 31, 2022 Financial statement line item: Cultivation Distribution Corporate Total Reportable segment assets $ 37,392,401 $ 819,376 $ 785,000 $ 38,996,777 Reportable segment liabilities 6,961,243 1,146,980 3,988,393 12,096,616 For the six months ended June 30, 2023 Financial statement line item: Cultivation Distribution Corporate Total Revenues from external customers $ 1,268,702 $ 128,741 $ — $ 1,397,443 Intersegment revenues — — — — Other income 107,110 8,974 51,659 167,743 Finance income — 20 — 20 Finance expense (175,616 ) (8,033 ) (40,809 ) (224,458 ) Depreciation & amortization 2,045,307 1,898 102,840 2,150,045 Discontinued operations — — — — Reportable segment loss (3,223,676 ) (337,238 ) (2,316,968 ) (5,877,882 ) For the six months ended June 30, 2022 Financial statement line item: Cultivation Distribution Corporate Total Revenues from external customers $ 57,516 $ 15,580 $ — $ 73,096 Intersegment revenues — — — — Other income (expense) 12,760,356 (6,600 ) (646,494 ) 12,107,262 Finance income — 747 — 747 Finance expense (23,177 ) (52 ) (13,377 ) (36,606 ) Depreciation & amortization 1,511,138 — — 1,511,138 Discontinued operations (3,747,034 ) — — (3,747,034 ) Reportable segment loss (5,744,346 ) (6,867,849 ) (1,470,241 ) (2,593,744 ) | Set out below is information about the assets and liabilities as at December 31, 2022 and 2021 and profit or loss from each segment for the years ended December 31, 2022 and 2021: Financial statement line ite As at December 31, 2022 Cultivation Distribution Corporate Total Reportable segment assets $ 37,392,401 $ 819,376 $ 785,000 $ 38,996,777 Reportable segment liabilities 6,961,243 1,146,980 3,988,393 12,096,616 Financial statement line ite As at December 31, 2021 Cultivation Distribution Corporate Total Reportable segment assets $ 4,127,273 $ 3,716,771 $ 201,959 $ 8,046,003 Reportable segment liabilities 3,020,730 323,129 6,903,926 10,247,425 Financial statement line ite For the year ended December 31, 2022 Cultivation Distribution Corporate Total Revenues from external customers $ 2,517,904 $ 101,778 $ — $ 2,619,682 Intersegment revenues — — — — Other income (expense) 13,348,562 (3,532 ) (1,289,652 ) 12,055,378 Finance income — 886 — 886 Finance expense (84,686 ) (49 ) (30,589 ) (115,324 ) Depreciation & amortization 3,507,013 2,546 88,764 3,598,323 Discontinued operations (3,422,225 ) — — (3,422,225 ) Reportable segment income (loss) 3,974,069 (8,089,036 ) (7,542,707 ) (11,657,674 ) Financial statement line ite For the year ended December 31, 2021 Cultivation Distribution Corporate Total Revenues from external customers $ — $ 41,431 $ — $ 41,431 Intersegment revenues — — — — Other expense — 55 — 55 Finance income — 90 — 90 Finance expense — — 10,509 10,509 Depreciation & amortization — 478 — 478 Discontinued operations (5,657,494 ) — — (5,657,494 ) Reportable segment loss (5,331,601 ) (1,775,923 ) (1,023,673 ) (8,131,197 ) | Set out below is information about the assets and liabilities as at December 31, 2021 and 2020 and profit or loss from each segment for the years ended December 31, 2021, 2020 and 2019: As at December 31, 2021 Financial statement line item Cultivation Distribution Corporate Total Reportable segment assets $ 4,127,138 $ 3,716,771 $ 205,797 $ 8,043,909 Reportable segment liabilities 3,020,730 323,129 6,899,644 10,243,143 As at December 31, 2020 Financial statement line item: Cultivation Distribution Corporate Total Reportable segment assets $ 4,253,676 $ 19,664 $ — $ 4,273,340 Reportable segment liabilities 9,305,736 1,024 — 9,306,760 For the year ended December 31, 2021 Financial statement line item: Cultivation Distribution Corporate Total Revenues from external customers $ — $ 41,431 $ — $ 41,431 Intersegment revenues — — — — Other income — 55 — 55 Finance income 26,659 90 — 26,749 Finance expense 1,082,372 — 10,509 1,092,881 Depreciation & amortization 308,544 478 — 309,022 Reportable segment loss (5,331,600 ) (1,775,923 ) (1,019,823 ) (8,127,347 ) For the year ended December 31, 2020 Financial statement line item: Cultivation Distribution Corporate Total Revenues from external customers $ — $ 2,062 $ — $ 2,062 Intersegment revenues — — — — Other revenue — — — — Finance income 10,187 1 — 10,188 Finance expense 645,162 — — 645,162 Depreciation & amortization 248,743 — — 248,743 Reportable segment loss (2,298,310 ) (2,261 ) — (2,300,571 ) For the year ended December 31, 2019 Financial statement line item: Cultivation Distribution Corporate Total Revenues from external customers $ — $ — $ — $ — Intersegment revenues — — — — Other revenue — — — — Finance income 399 2 — 401 Finance expense 493,807 — — 493,807 Depreciation & amortization 198,824 — — 198,824 Reportable segment loss (1,394,611 ) (30 ) — (1,394,641 ) |
Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities | Set out below are reconciliations of each reportable segment’s revenues, profit or loss for the six months ended June 30, 2023 and 2022, and assets and liabilities as at June 30, 2023 and December 31, 2022: For the six months ended June 30, 2023 Revenues Cultivation Distribution Corporate Total Total revenues $ 1,268,702 $ 128,741 $ — $ 1,397,443 Elimination of inter segment revenue — — — — Total revenue $ 1,268,702 $ 128,741 $ — $ 1,397,443 For the six months ended June 30, 2022 Revenues Cultivation Distribution Corporate Total Total revenues $ 57,516 $ 15,580 $ — $ 73,096 Elimination of inter segment revenue — — — — Total revenue $ 57,516 $ 15,580 $ — $ 73,096 For the six months ended June 30, 2023 Loss Cultivation Distribution Corporate Total Total loss for reportable segments $ (3,223,676 ) $ (337,238 ) $ (2,316,968 ) $ (5,877,882 ) Total loss on discontinued operations — — — — Elimination of inter segment profit or loss — — — — Loss before income tax expense $ (3,223,676 ) $ (337,238 ) $ (2,316,968 ) $ (5,877,882 ) For the six months ended June 30, 2022 Loss Cultivation Distribution Corporate Total Total profit or loss for reportable segments $ 9,491,380 $ (6,867,849 ) $ (1,470,241 ) $ 1,153,290 Total loss on discontinued operations — — — — Elimination of inter segment profit or loss — — — — Income (Loss) before income tax expense $ 9,491,380 $ (6,867,849 ) $ (1,470,241 ) $ 1,153,290 As at June 30, 2023 Assets Cultivation Distribution Corporate Total Total assets for reportable segments $ 35,060,640 $ 19,837,704 $ 13,869,424 $ 68,767,768 Elimination of inter segment assets — (19,131,000 ) (13,129,212 ) (32,260,212 ) Segments’ assets $ 35,060,640 $ 706,704 $ 740,212 $ 36,507,556 As at December 31, 2022 Assets Cultivation Distribution Corporate Total Total assets for reportable segments $ 37,392,401 $ 19,950,376 $ 13,914,212 $ 71,256,989 Elimination of inter segment assets — (19,131,000 ) (13,129,212 ) (32,260,212 ) Segments’ assets $ 37,392,401 $ 819,376 $ 785,000 $ 38,996,777 As at June 30, 2023 Liabilities Cultivation Distribution Corporate Total Total liabilities for reportable segments $ 17,477,967 $ 30,917,933 $ (24,557,990 ) $ 23,837,910 Elimination of inter segment liabilities (10,102,537 ) (29,703,804 ) 30,826,944 (8,979,397 ) Entity’s liabilities $ 7,375,430 $ 1,214,129 $ 6,268,954 $ 14,858,513 As at December 31, 2022 Liabilities Cultivation Distribution Corporate Total Total liabilities for reportable segments $ 16,032,790 $ 29,335,641 $ (26,121,029 ) $ 19,247,402 Elimination of inter segment liabilities (9,071,547 ) (28,188,661 ) 30,109,422 (7,150,786 ) Entity’s liabilities $ 6,961,243 $ 1,146,980 $ 3,988,393 $ 12,096,616 | Set out below are reconciliations of each reportable segment’s revenues, profit or loss, assets and liabilities as at December 31, 2022 and 2021, and for the years ended December 31, 2022 and 2021: Revenu For the year ended December 31, 2022 Cultivation Distribution Corporate Total Total revenues $ 2,517,904 $ 101,778 $ — $ 2,619,682 Elimination of inter segment revenue — — — — Total revenu $ 2,517,904 $ 101,778 $ — $ 2,619,682 Revenue For the year ended December 31, 2021 Cultivation Distribution Corporate Total Total revenues $ — $ 41,431 $ — $ 41,431 Elimination of inter segment revenue — — — — Total revenu $ — $ 41,431 $ — $ 41,431 Lo For the year ended December 31, 2022 Cultivation Distribution Corporate Total Total profit or loss for reportable segments $ 7,396,294 $ (8,089,036 ) $ (7,542,707 ) $ (8,235,449 ) Total loss on discontinued operations (3,422,225 ) — — (3,422,225 ) Elimination of inter segment profit or loss — — — — Income (Loss) before income tax expense $ 3,974,069 $ (8,089,036 ) $ (7,542,707 ) $ (11,657,674 ) Lo For the year ended December 31, 2021 Cultivation Distribution Corporate Total Total profit or loss for reportable segments $ 325,893 $ (1,775,923 ) $ (1,023,673 ) $ (2,473,703 ) Total loss on discontinued operations (5,657,494 ) — — (5,657,494 ) Elimination of inter segment profit or loss — — — — Loss before income tax expense $ (5,331,601 ) $ (1,775,923 ) $ (1,023,673 ) $ (8,131,197 ) Asse As at Cultivation Distribution Corporate Total Total assets for reportable segments $ 37,392,401 $ 19,950,376 $ 13,914,212 $ 71,256,989 Elimination of inter segment assets — (19,131,000 ) (13,129,212 ) (32,260,212 ) Segments’ assets $ 37,392,401 $ 819,376 $ 785,000 $ 38,996,777 Asse As at Cultivation Distribution Corporate Total Total assets for reportable segments $ 4,127,273 $ 4,082,801 $ 26,027,087 $ 34,237,881 Elimination of inter segment assets — (366,030 ) (25,825,848 ) (26,191,878 ) Segments’ assets $ 4,127,273 $ 3,716,771 $ 201,959 $ 8,046,003 Liabiliti As at Cultivation Distribution Corporate Total Total liabilities for reportable segments $ 16,032,790 $ 29,335,641 $ (26,121,029 ) $ 19,247,402 Elimination of inter segment liabilities (9,071,547 ) (28,188,661 ) 30,109,422 (7,150,786 ) Entity’s liabilities $ 6,961,243 $ 1,146,980 $ 3,988,393 $ 12,096,616 Liabilitie As at Cultivation Distribution Corporate Total Total liabilities for reportable segments $ 10,602,945 $ 5,437,189 $ (5,880,163 ) $ 10,160,956 Elimination of inter segment liabilities (7,582,575 ) (5,114,060 ) 12,784,089 86,469 Entity’s liabilities $ 3,020,370 $ 323,129 $ 6,903,926 $ 10,247,425 | Set out below are reconciliations of each reportable segment’s revenues, profit or loss, assets and liabilities as at December 31, 2021 and 2020, and for the years ended December 31, 2021, 2020 and 2019: For the year ended December 31, 2021 Revenues Cultivation Distribution Corporate Total Total revenues $ — $ 41,431 $ — $ 41,431 Elimination of inter segment revenue — — — — Total revenu $ — $ 41,431 $ — $ 41,431 For the year ended December 31, 2020 Revenues Cultivation Distribution Corporate Total Total revenues $ — $ 2,062 $ — $ 2,062 Elimination of inter segment revenue — — — — Total revenu $ — $ 2,062 $ — $ 2,062 For the year ended December 31, 2019 Revenues Cultivation Distribution Corporate Total Total revenues $ — $ — $ — $ — Elimination of inter segment Revenue — — — — Total revenu $ — $ — $ — $ — For the year ended December 31, 2021 Loss Cultivation Distribution Corporate Total Total profit or loss for reportable $ (5,331,600 ) $ (1,775,923 ) $ (1,019,823 ) $ (8,127,347 ) Other profit or loss — — — — Elimination of inter segment profit or — — — — Loss before income tax expense $ (5,331,600 ) $ (1,775,923 ) $ (1,019,823 ) $ (8,127,347 ) For the year ended December 31, 2020 Loss Cultivation Distribution Corporate Total Total profit or loss for reportable $ (2,298,310 ) $ (2,261 ) $ — $ (2,300,571 ) Other profit or loss — — — — Elimination of inter segment profit or — — — — Loss before income tax expense $ (2,298,310 ) $ (2,261 ) $ — $ (2,300,571 ) For the year ended December 31, 2019 Loss Cultivation Distribution Corporate Total Total profit or loss for reportable $ (1,394,611 ) $ (30 ) $ — $ (1,394,641 ) Other profit or loss — — — — Elimination of inter segment profit or — — — — Loss before income tax expense $ (1,394,611 ) $ (30 ) $ — $ (1,394,641 ) As at December 31, 2021 Assets Cultivation Distribution Corporate Total Total assets for reportable segments $ 4,127,138 $ 4,082,801 $ 26,025,848 $ 34,235,787 Other assets — — — — Elimination of inter segment assets — (366,030 ) (25,825,848 ) (26,191,878 ) Entity’s assets $ 4,127,138 $ 3,716,771 $ 200,000 $ 8,043,909 As at December 31, 2020 Assets Cultivation Distribution Corporate Total Total assets for reportable segments $ 4,253,676 $ 19,664 $ — $ 4,273,340 Other assets — — — — Elimination of inter segment assets — — — — Entity’s assets $ 4,253,676 $ 19,664 $ — $ 4,273,340 As at December 31, 2021 Liabilities Cultivation Distribution Corporate Total Total liabilities for reprtable segments $ 10,602,945 $ 5,437,189 $ 6,899,644 $ 22,939,779 Other liabilities — — — — Elimination of inter segment liabilities (7,582,575 ) (5,114,060 ) — (12,696,635 ) Entity’s liabilities $ 3,020,730 $ 323,129 $ 6,899,644 $ 10,243,144 As at December 31, 2020 Liabilities Cultivation Distribution Corporate Total Total liabilities for reprtable segments $ 9,305,736 $ 1,024 $ — $ 9,306,760 Other liabilities — — — — Elimination of inter segment liabilities — — — — Entity’s liabilities $ 9,305,736 $ 1,024 $ — $ 9,306,760 |
Significant Accounting Polici_2
Significant Accounting Policies (Tables) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Significant Accounting Policy Abstract] | ||
Schedule of Subsidiaries of the Company | The subsidiaries of the Company are as follows: Country of Holding Functional Currency Cannahealth Ltd. (“Cannahealth”) Malta 100% EUR Bophelo Holdings Ltd. (“Bophelo H”) United Kingdom 100% GBP Bophelo Bio Science and Wellness (Pty) Ltd. (“Bophelo”) Lesotho 100% LSL Canmart Ltd. (“Canmart”) United Kingdom 100% GBP Holigen Holdings Limited (“Holigen”) Portugal 100% EUR RPK Biopharma Unipessoal Lda. (“RPK”) Portugal 100% EUR 1371011 BC Ltd. (“1371011”) Canada 100% CAD | The subsidiaries of the Company are as follows: Country of Incorporation Holding Functional Cannahealth Ltd. (“Cannahealth”) Malta 100% owned EUR Bophelo Holdings Ltd. (“Bophelo H”) United Kingdom 100% owned GBP Bophelo Bio Science and Wellness (Pty) Ltd. (“Bophelo”) Lesotho 100% owned LSL Canmart Ltd. (“Canmart”) United Kingdom 100% owned GBP |
Schedule of Estimated Useful Lives for the Current and Comparative Periods | The estimated useful lives for the current and comparative periods are as follows: Plant and equipment 10 years Leasehold improvements 20 years Motor Vehicles 4 years Computers 3 years Furniture and fixtures 6 y | The estimated useful lives for the current and comparative periods are as follows: Plant and equipment 10 years Leasehold improvements 20 years Motor Vehicles 4 years Computers 3 years Furniture and fixtures 6 years |
Loan Receivable (Tables)_2
Loan Receivable (Tables) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
Disclosure Of Loan Receivable Explanatory Abstract | ||
Schedule of Loan Receivable | 12. June 30, December 31, Loan to Cellen Life Sciences Limited $ 506,460 $ 483,588 Included in the loan receivable at June 30, 2023 is an amount of $506,460 On November 10, 2022, the Company entered into an agreement (the “Loan Restructuring Agreement”) with Cellen Life Sciences Limited and Cellen Biotech Limited (collectively referred to as “Cellen”) which entails the restructuring of the payment terms applicable to the $500,000 loan payable by Cellen to the Company pursuant to a Bridge Loan Facility Agreement previously entered into on December 2, 2021. In terms of the Loan Restructuring Agreement, Cellen shall repay the $500,000 by no later than the fourth anniversary of the Loan Restructuring Agreement, namely by November 10, 2026. The loan shall not bear interest until the 2 nd | December 31, December 31, Loan to Cellen Life Sciences Limited $ 483,588 $ — |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Income Taxes [Abstract] | ||
Schedule of Income Tax Expense (Benefit) | The components of income tax expense (benefit) are as follows: Years ended December 3 2022 2021 Current: $ — $ — Kingdom of Lesotho — — Republic of Malta — — United Kingdom — — $ — $ — | The components of income tax expense (benefit) are as follows: Year ended December 2021 2020 2019 Current: Kingdom of Lesotho $ — $ — $ — Republic of Malta — — — United Kingdom — — — $ — $ — $ — |
Schedule Deferred Tax Assets and Liabilities | Deferred tax assets and liabilities have not been recognized for the following: Years ended December 3 2022 2021 Net loss before income taxes: $ (11,657,674 ) $ (8,131,197 ) Statutory income tax rate 26.50 % 26.50 % Income tax benefit (3,089,284 ) (2,154,767 ) Non-deductible items 1,664,757 — Non-taxable items (3,420,469 ) — Foreign rate differential (323,877 ) 1,227,150 Unrecognized loss carryforwards 5,168,873 1,089,449 $ — $ — | Deferred tax assets and liabilities have not been recognized for the following: Year ended December 2021 2020 2019 Net loss before income taxes $ (8,131,197 ) $ (2,300,571 ) $ (1,394,641 ) Statutory income tax rate 26.50 % 26.50 % 26.50 % Income tax benefit (2,154,767 ) (609,651 ) (369,580 ) Foreign rate differential 1,227,150 379,594 230,116 Unrecognized loss carryforwards 1,089,449 230,057 139,464 $ — $ — $ — |
Schedule of Deferred Tax Assets | At December 3 2022 2021 Net operating loss before carryforwards $ — $ — Unrecognized loss carryforwards $ — $ — | As at December 2021 2020 Net operating loss before carryforwards $ — $ — Unrecognized loss carryforwards $ — $ — |
Nature of Operations and Goin_2
Nature of Operations and Going Concern (Details) - USD ($) | 6 Months Ended | 12 Months Ended | ||||||
Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Apr. 29, 2022 | Dec. 31, 2008 | |
Nature of Operations and Going Concern (Details) [Line Items] | ||||||||
Balances receivable | ||||||||
Loss on loss of control of Bophelo Bio Science & Wellness | 2,085,624 | |||||||
Cash | 739,947 | |||||||
Net loss | $ (5,821,187) | $ (10,918,113) | (20,176,389) | $ (2,570,151) | ||||
Percentage of ownership interest acquired | 100% | |||||||
Net cash outflow from operating activities | (911,484) | $ (8,353,721) | (11,469,396) | (6,557,062) | $ (1,352,468) | $ (642,328) | ||
Working capital | 9,130,811 | |||||||
Accumulated losses | $ 26,965,844 | |||||||
Bophelo Bio Science and Wellness (Pty) Ltd. [Member] | ||||||||
Nature of Operations and Going Concern (Details) [Line Items] | ||||||||
Loss on loss of control of Bophelo Bio Science & Wellness | (2,085,624) | |||||||
Cash | 739,947 | |||||||
Net loss | 1,336,601 | |||||||
Bophelo Bio Science & Wellness (Pty) Ltd. Disposal Group Discontinued Operations [Member] | ||||||||
Nature of Operations and Going Concern (Details) [Line Items] | ||||||||
Cash | 739,947 | $ 739,947 | ||||||
Net loss | $ (1,336,601) | $ (5,657,494) |
Basis of Preparation (Details)
Basis of Preparation (Details) | 6 Months Ended |
Jun. 30, 2023 CAD ($) | |
Basis of Preparation [Abstract] | |
Canmart and Canadian Dollars | $ 1,371,011 |
Business Combination (Details)
Business Combination (Details) $ / shares in Units, $ in Thousands | 6 Months Ended | 12 Months Ended | ||||||||||||||
Apr. 29, 2022 USD ($) $ / shares | Jun. 30, 2023 USD ($) $ / shares | Jun. 30, 2022 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | Dec. 31, 2019 USD ($) | Feb. 13, 2024 | Feb. 02, 2024 $ / shares | Dec. 31, 2023 USD ($) | Oct. 11, 2023 | Aug. 14, 2023 | Jul. 26, 2023 | Mar. 02, 2023 | Jan. 31, 2023 $ / shares | Apr. 20, 2022 CAD ($) | |
Business Combination (Details) [Line Items] | ||||||||||||||||
Percentage of ownership interest acquired | 100% | |||||||||||||||
Cash consideration | $ 3,000,000 | |||||||||||||||
Number of shares issued in acquisition | item | 190,000 | 1,900,000 | 560,000 | 560,100 | 879,895 | 582,193 | 140,746 | 475,959 | ||||||||
Cash | $ 2,600,000 | $ 3,750 | ||||||||||||||
Holdback payable | $ 400,000 | $ 377,465 | ||||||||||||||
Price per share (in Dollars per share) | $ / shares | $ 0.406 | $ 0.62 | ||||||||||||||
Purchase gain other income | $ 12,760,356 | 12,760,356 | ||||||||||||||
Fair value of net assets | 24,665,772 | 24,665,772 | ||||||||||||||
Total consideration transferred | $ 19,131,000 | |||||||||||||||
Acquired business | 1,268,702 | 57,516 | ||||||||||||||
Revenue | $ 1,397,443 | 73,096 | $ 2,619,682 | $ 41,431 | $ 2,062 | |||||||||||
Holigen [Member] | ||||||||||||||||
Business Combination (Details) [Line Items] | ||||||||||||||||
Percentage of ownership interest acquired | 100% | |||||||||||||||
Cash consideration | $ 3,000,000 | |||||||||||||||
Number of shares issued in acquisition | item | 190,000 | 1,900,000 | 1,900,000 | |||||||||||||
Cash | $ 2,600,000 | $ 2,600,000 | ||||||||||||||
Holdback payable | $ 400,000 | 400,000 | ||||||||||||||
Price per share (in Dollars per share) | $ / shares | $ 84.9 | |||||||||||||||
Acquisition-related costs | 250,000 | |||||||||||||||
Purchase gain other income | 12,760,356 | |||||||||||||||
Fair value of net assets | 31,891,563 | |||||||||||||||
Total consideration transferred | 19,131,000 | |||||||||||||||
Holigen [Member] | Share capital [member] | ||||||||||||||||
Business Combination (Details) [Line Items] | ||||||||||||||||
Number of shares issued in acquisition | item | 1,900,000 | |||||||||||||||
Holigen [Member] | Apolo Capital Advisory | ||||||||||||||||
Business Combination (Details) [Line Items] | ||||||||||||||||
Number of shares issued in acquisition | item | 9,635 | 96,354 | ||||||||||||||
Price per share (in Dollars per share) | $ / shares | $ 8.49 | |||||||||||||||
Apolo Capital Advisory | ||||||||||||||||
Business Combination (Details) [Line Items] | ||||||||||||||||
Percentage of ownership interest acquired | 100% | 100% | ||||||||||||||
Number of shares issued in acquisition | item | 190,000 | 1,900,000 | ||||||||||||||
Holigen Limited | ||||||||||||||||
Business Combination (Details) [Line Items] | ||||||||||||||||
Net loss | $ 966,426 | 966,426 | ||||||||||||||
Contributed net loss | $ 1,825,521 | |||||||||||||||
Revenue | $ 2,096,190 | $ 814,896 | ||||||||||||||
Sintra, Lisbon, Portugal [Member] | Holigen [Member] | ||||||||||||||||
Business Combination (Details) [Line Items] | ||||||||||||||||
Number of square foot held | 20,000 | |||||||||||||||
Aljustrel, Portugal [Member] | Holigen [Member] | ||||||||||||||||
Business Combination (Details) [Line Items] | ||||||||||||||||
Number of square foot held | 180 |
Business Combination (Details)
Business Combination (Details) - Schedule of the Acquisition-Date Fair Value of Each Major Class of Purchase - Holigen Holdings Limited and RPK Biopharma Unipessoal, LDA [Member] - USD ($) | Dec. 31, 2022 | Apr. 29, 2022 |
Business Combination (Details) - Schedule of the Acquisition-Date Fair Value of Each Major Class of Purchase [Line Items] | ||
Cash | $ 2,600,000 | $ 2,600,000 |
Holdback payable | 400,000 | $ 400,000 |
Fair value of 190,000 common shares of the Company | 16,131,000 | |
Total consideration | $ 19,131,000 |
Business Combination (Details_2
Business Combination (Details) - Schedule of the Acquisition-Date Fair Value of Each Major Class of Purchase (Parentheticals) | Dec. 31, 2023 | Dec. 31, 2022 | Apr. 29, 2022 |
Holigen Holdings Limited and RPK Biopharma Unipessoal, LDA [Member] | |||
Business Combination (Details) - Schedule of the Acquisition-Date Fair Value of Each Major Class of Purchase (Parentheticals) [Line Items] | |||
Fair value of 1,900,000 common shares of the Company | 1,900,000 | 1,900,000 | 190,000 |
Business Combination (Details_3
Business Combination (Details) - Schedule of the Fair Value of the Identifiable Assets and Liabilities - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
Schedule Of The Fair Value Of The Identifiable Assets And Liabilities Abstract | ||
Cash | $ 233,407 | $ 233,407 |
Accounts receivable | 605,579 | 605,579 |
Biological assets | 200,457 | 200,457 |
Inventory | 904,006 | 904,006 |
Prepayments | 179,597 | 179,597 |
Intangible assets | 24,665,772 | 24,665,772 |
Property, plant and equipment, net | 12,936,374 | 12,936,374 |
Trade and other payables | (3,775,599) | (3,775,599) |
Loans and borrowing | (4,058,030) | (4,058,030) |
Net assets acquired | $ 31,891,563 | $ 31,891,563 |
Loss of Control of Bophelo Bi_3
Loss of Control of Bophelo Bio Science and Wellness (Pty) Ltd. (Details) | 12 Months Ended |
Dec. 31, 2022 USD ($) | |
Loss of Control of Bophelo Bio Science and Wellness (Pty) Ltd. [Abstract] | |
Wrote down balances receivable | |
Loss on loss of control | 2,085,624 |
Cash held by subsidiary | $ 739,947 |
Loss of Control of Bophelo Bi_4
Loss of Control of Bophelo Bio Science and Wellness (Pty) Ltd. (Details) - Schedule of Financial Performance and Cash Fow Information - Bophelo Bio Science & Wellness (Pty) Ltd. Disposal Group Discontinued Operations [Member] - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2008 | |
Loss of Control of Bophelo Bio Science and Wellness (Pty) Ltd. (Details) - Schedule of Financial Performance and Cash Fow Information [Line Items] | |||
Revenue | $ 31,123 | ||
Operating expenses | (1,244,691) | $ (3,550,441) | |
Other expenses | (123,033) | (2,107,053) | |
Total revanue | (1,336,601) | (5,657,494) | |
Loss on loss of control of subsidiary | (2,085,624) | ||
Loss on discontinued operations | (3,422,225) | (5,657,494) | |
Exchange differences on translation of discontinued operations | (450,040) | 636,135 | |
Other comprehensive income from discontinued operations | (450,040) | 636,135 | |
Cash flows provided by operating activities | 1,060,350 | 7,414,607 | |
Cash flows used in investing activities | (1,003,529) | (570,864) | |
Cash flows provided by (used in) financing activities | (95,696) | 6,832,634 | |
Effects of exchange rate changes on cash and cash equivalents | 18,909 | (1,263) | |
Net change in cash provided by (used in) the subsidiary | (19,966) | $ 9,846 | |
Carrying amount of net assets immediately prior to loss of control of subsidiary | 2,375,840 | $ 2,375,840 | |
Reclassification of foreign currency translation reserve | (290,216) | ||
Loss on loss of control of subsidiary | $ 2,085,624 |
Loss of Control of Bophelo Bi_5
Loss of Control of Bophelo Bio Science and Wellness (Pty) Ltd. (Details) - Schedule of Carrying Amounts of Assets and Liabilities - Bophelo Bio Science & Wellness (Pty) Ltd. Disposal Group Discontinued Operations [Member] - USD ($) | Dec. 31, 2022 | Dec. 31, 2008 |
Loss of Control of Bophelo Bio Science and Wellness (Pty) Ltd. (Details) - Schedule of Carrying Amounts of Assets and Liabilities [Line Items] | ||
Cash | $ 739,947 | $ 739,947 |
Accounts receivable | 21,854 | 21,854 |
Prepayments | 578,070 | 578,070 |
Property, plant and equipment | 1,887,435 | 1,887,435 |
Right-of-use assets | 1,745,205 | 1,745,205 |
Intangible assets | 210,402 | 210,402 |
Total assets | 5,182,913 | 5,182,913 |
Trade and other payables | 115,120 | 115,120 |
Lease liability | 2,375,590 | 2,375,590 |
Long-term debt | 316,363 | 316,363 |
Total liabilities | 2,807,073 | 2,807,073 |
Net assets | $ 2,375,840 | $ 2,375,840 |
Trade and Other Receivables (De
Trade and Other Receivables (Details) | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2023 | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Trade and Other Receivables [Abstract] | ||||
Number of customer | 2 | 1 | 1 | |
Percentage of trade accounts receivable | 73% | 85% | 94% | |
Bad debt expense (in Dollars) | $ 332,715 |
Trade and Other Receivables (_2
Trade and Other Receivables (Details) - Schedule of Trade and Other Receivables - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Schedule Of Trade And Other Receivables Abstract | ||||
Trade accounts receivable | $ 294,021 | $ 720,085 | $ 29,457 | |
Sales taxes receivable | 19,020 | 91,416 | $ 212,900 | |
Other receivables | 344,527 | 424,118 | ||
Total accounts receivable | $ 657,568 | $ 1,235,619 |
Inventory (Details)
Inventory (Details) - USD ($) | 6 Months Ended | 12 Months Ended | ||||||
Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2023 | Mar. 31, 2023 | |
Inventory (Details) [Line Items] | ||||||||
Total carrying amount of Company's inventory | $ 1,280,073 | $ 1,057,240 | ||||||
Inventory expense | 108,239 | $ 33,078 | 1,216,129 | |||||
Biological assets | 7,821 | 32,337 | 49,269 | $ 225 | $ 1,068 | |||
Amount of stock destroyed | 1,280,073 | 1,057,240 | 611 | |||||
Inventories wrote-off | 19,563 | |||||||
UNITED KINGDOM | ||||||||
Inventory (Details) [Line Items] | ||||||||
Inventory expense | $ 467,285 | $ 566,252 | 43,022 | |||||
Biological assets | 492.69 | |||||||
Amount of stock destroyed | 611 | |||||||
Biological assets [member] | ||||||||
Inventory (Details) [Line Items] | ||||||||
Biological assets | 156,073 | |||||||
UNITED KINGDOM | Biological assets [member] | ||||||||
Inventory (Details) [Line Items] | ||||||||
Biological assets | ||||||||
Biological assets [member] | UNITED KINGDOM | ||||||||
Inventory (Details) [Line Items] | ||||||||
Biological assets |
Inventory (Details) - Schedule
Inventory (Details) - Schedule of Reconciliation of the Company’s Biological Assets - At fair value [member] - USD ($) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Inventory (Details) - Schedule of Reconciliation of the Company’s Biological Assets [Line Items] | |||
Balance, beginning of the period | $ 809,180 | ||
Acquisition (note 4) | 200,457 | ||
Gain (loss) on change in fair value of biological assets | (562,045) | 580,411 | (693,572) |
Movement in exchange rate | 10,009 | 28,312 | |
Balance, end of the period | $ 257,144 | $ 809,180 |
Marketable Securities (Details)
Marketable Securities (Details) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 $ / shares | Dec. 31, 2022 USD ($) $ / shares shares | Dec. 31, 2022 CAD ($) | |
Marketable Securities (Details) [Line Items] | |||
Reflects closing price (in Dollars per share) | $ / shares | $ 0.025 | $ 0.025 | |
Flowr Corporation [Member] | |||
Marketable Securities (Details) [Line Items] | |||
Purchased of ordinary shares | shares | 14,285,714 | ||
Flowr Corporation [Member] | ifrs_Private placement [Member] | |||
Marketable Securities (Details) [Line Items] | |||
Purchased of ordinary shares | shares | 14,285,714 | ||
private placement | $ | $ 1,000,000 | ||
Flowr Corporation [Member] | Private placement [Member] | |||
Marketable Securities (Details) [Line Items] | |||
private placement | $ | $ 801,160 |
Marketable Securities (Detail_2
Marketable Securities (Details) - Schedule of Investment - Flowr Corporation [Member] - USD ($) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2008 | |
Marketable Securities (Details) - Schedule of Investment [Line Items] | |||
Balance, beginning of period | |||
Purchase of investment | 801,160 | $ 801,160 | |
Change in fair value | $ 464 | (516,281) | (516,281) |
Movement in exchange rate | 5,845 | (21,188) | $ (21,188) |
Balance, ending of period | $ 270,000 | $ 263,691 |
Property, Plant and Equipment_2
Property, Plant and Equipment (Details) - USD ($) | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Property, Plant and Equipment (Details) [Line Items] | |||||
Plant and equipment net book value | $ 280,691 | $ 94,814 | $ (170,012) | $ (24,067) | |
Property, plant and equipment | 810,260 | 1,037,187 | 155,073 | 84,587 | |
Impairment loss | 23,748 | ||||
Property, plant and equipment [member] | |||||
Property, Plant and Equipment (Details) [Line Items] | |||||
Property, plant and equipment | 810,260 | $ 372,723 | |||
Bophelo [Member] | |||||
Property, Plant and Equipment (Details) [Line Items] | |||||
Property, plant and equipment | $ 115,890 | ||||
Other property, plant and equipment [member] | |||||
Property, Plant and Equipment (Details) [Line Items] | |||||
Property, plant and equipment | 109,959 | 155,073 | |||
Bio Science and Wellness (Pty) Ltd. [Member] | |||||
Property, Plant and Equipment (Details) [Line Items] | |||||
Plant and equipment net book value | 1,887,435 | ||||
Bophelo Bio Science & Wellness (Pty) Ltd. Disposal Group Discontinued Operations [Member] | |||||
Property, Plant and Equipment (Details) [Line Items] | |||||
Plant and equipment net book value | 1,887,435 | ||||
Bophelo Bio Science & Wellness (Pty) Ltd. Disposal Group Discontinued Operations [Member] | Other property, plant and equipment [member] | |||||
Property, Plant and Equipment (Details) [Line Items] | |||||
Property, plant and equipment | $ 1,147,146 | $ 154,595 |
Property, Plant and Equipment_3
Property, Plant and Equipment (Details) - Schedule of Property, Plant and Equipment - USD ($) | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Property, Plant and Equipment (Details) - Schedule of Property, Plant and Equipment [Line Items] | ||||
Balance at end of period, Cost | $ 2,206,400 | |||
Acquisitions (note 4) | 12,936,374 | |||
Additions | $ 1,935 | 310,946 | $ 576,472 | $ 439,137 |
Balance at beginning of period, Accumulated depreciation | 1,124,883 | 308,652 | 173,908 | 94,405 |
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | (2,264,147) | |||
Foreign exchange movements | 280,691 | 94,814 | (170,012) | (24,067) |
Balance at end of period, Cost | 13,567,013 | 13,284,387 | 2,206,400 | 1,799,940 |
Depreciation | 810,260 | 1,037,187 | 155,073 | 84,587 |
Net book value | 11,556,836 | 12,159,504 | 1,897,748 | 1,626,032 |
Depreciation – Bophelo | 109,959 | |||
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | (376,712) | |||
Foreign exchange movements | 75,034 | 45,797 | (20,329) | (5,084) |
Balance at end of period, Accumulated depreciation | 2,010,177 | 1,124,883 | 308,652 | 173,908 |
Land [member] | ||||
Property, Plant and Equipment (Details) - Schedule of Property, Plant and Equipment [Line Items] | ||||
Balance at end of period, Cost | ||||
Acquisitions (note 4) | 872,336 | |||
Additions | ||||
Balance at beginning of period, Accumulated depreciation | ||||
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | ||||
Foreign exchange movements | 15,382 | 12,901 | ||
Balance at end of period, Cost | 900,619 | 885,237 | ||
Depreciation | ||||
Net book value | 900,619 | 885,237 | ||
Depreciation – Bophelo | ||||
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | ||||
Foreign exchange movements | ||||
Balance at end of period, Accumulated depreciation | ||||
Plant and equipment | ||||
Property, Plant and Equipment (Details) - Schedule of Property, Plant and Equipment [Line Items] | ||||
Balance at end of period, Cost | 590,011 | |||
Acquisitions (note 4) | 11,817,462 | |||
Additions | 108,933 | 53,808 | 172,369 | |
Balance at beginning of period, Accumulated depreciation | 1,053,249 | 174,854 | 123,710 | 67,113 |
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | (663,404) | |||
Foreign exchange movements | 255,388 | 282,219 | (50,157) | (11,305) |
Balance at end of period, Cost | 12,390,609 | 12,135,221 | 590,011 | 586,360 |
Depreciation | 771,232 | 972,872 | 63,785 | 60,212 |
Net book value | 10,497,745 | 11,081,972 | 415,157 | 462,650 |
Depreciation – Bophelo | 32,549 | |||
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | (195,441) | |||
Foreign exchange movements | 68,383 | 68,415 | (12,641) | (3,615) |
Balance at end of period, Accumulated depreciation | 1,892,864 | 1,053,249 | 174,854 | 123,710 |
Leasehold improvements [member] | ||||
Property, Plant and Equipment (Details) - Schedule of Property, Plant and Equipment [Line Items] | ||||
Balance at end of period, Cost | 1,089,694 | |||
Acquisitions (note 4) | ||||
Additions | 1,490 | 66,110 | 493,136 | |
Balance at beginning of period, Accumulated depreciation | 108,623 | 36,324 | 22,489 | |
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | (1,088,572) | |||
Foreign exchange movements | 40 | (67,232) | (57,574) | (11,333) |
Balance at end of period, Cost | 1,530 | 1,089,694 | 293,437 | |
Depreciation | 149 | 78,352 | 14,950 | |
Net book value | 1,377 | 981,071 | 257,113 | |
Depreciation – Bophelo | 49,538 | |||
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | (149,161) | |||
Foreign exchange movements | 4 | (9,000) | (6,053) | (1,115) |
Balance at end of period, Accumulated depreciation | 153 | 108,623 | 36,324 | |
Motor vehicles [member] | ||||
Property, Plant and Equipment (Details) - Schedule of Property, Plant and Equipment [Line Items] | ||||
Balance at end of period, Cost | 47,623 | |||
Acquisitions (note 4) | 89,513 | |||
Additions | 10,489 | 14,214 | ||
Balance at beginning of period, Accumulated depreciation | 30,519 | 23,505 | 13,874 | 4,803 |
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | (54,767) | |||
Foreign exchange movements | 3,270 | (603) | (3,589) | (1,429) |
Balance at end of period, Cost | 95,525 | 92,255 | 47,623 | 36,998 |
Depreciation | 19,594 | 27,883 | 11,208 | 9,425 |
Net book value | 43,073 | 61,736 | 24,118 | 23,124 |
Depreciation – Bophelo | 6,577 | |||
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | (28,357) | |||
Foreign exchange movements | 2,339 | 911 | (1,577) | (354) |
Balance at end of period, Accumulated depreciation | 52,452 | 30,519 | 23,505 | 13,874 |
Computer equipment [member] | ||||
Property, Plant and Equipment (Details) - Schedule of Property, Plant and Equipment [Line Items] | ||||
Balance at end of period, Cost | 10,124 | |||
Acquisitions (note 4) | 32,703 | |||
Additions | 408 | 13,348 | 10,427 | |
Balance at beginning of period, Accumulated depreciation | 26,344 | 1,206 | ||
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | (14,851) | |||
Foreign exchange movements | 3,443 | 1,115 | (303) | |
Balance at end of period, Cost | 46,290 | 42,439 | 10,124 | |
Depreciation | 8,629 | 22,942 | 1,245 | |
Net book value | 8,220 | 16,095 | 8,918 | |
Depreciation – Bophelo | 20,832 | |||
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | (2,877) | |||
Foreign exchange movements | 3,097 | (15,759) | (39) | |
Balance at end of period, Accumulated depreciation | 38,070 | 26,344 | 1,206 | |
Fixtures and fittings [member] | ||||
Property, Plant and Equipment (Details) - Schedule of Property, Plant and Equipment [Line Items] | ||||
Balance at end of period, Cost | 4,695 | |||
Acquisitions (note 4) | 124,360 | |||
Additions | 37 | 3,435 | 4,887 | |
Balance at beginning of period, Accumulated depreciation | 14,771 | 464 | ||
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | (5,436) | |||
Foreign exchange movements | 3,168 | 2,181 | (192) | |
Balance at end of period, Cost | 132,440 | 129,235 | 4,695 | |
Depreciation | 10,656 | 13,490 | 483 | |
Net book value | 105,802 | 114,464 | 4,231 | |
Depreciation – Bophelo | 463 | |||
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | (876) | |||
Foreign exchange movements | 1,211 | 1,230 | (19) | |
Balance at end of period, Accumulated depreciation | 26,638 | 14,771 | 464 | |
Capital work-in- progress [Member] | ||||
Property, Plant and Equipment (Details) - Schedule of Property, Plant and Equipment [Line Items] | ||||
Balance at end of period, Cost | 464,253 | |||
Acquisitions (note 4) | ||||
Additions | 108,631 | 266,768 | ||
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | (437,117) | |||
Foreign exchange movements | (135,767) | (58,197) | ||
Balance at end of period, Cost | 464,253 | 883,145 | ||
Net book value | $ 464,253 | $ 883,145 |
Right-of-Use Assets (Details)
Right-of-Use Assets (Details) - USD ($) | 6 Months Ended | 12 Months Ended | ||
Aug. 01, 2022 | Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Right-of-Use Assets (Details) [Line Items] | ||||
Monthly lease payment | $ 20,000 | |||
Term of lease | 2 years | |||
Amortization | $ 102,840 | $ 58,010 | ||
Amortization | 55,041 | |||
Impact of loss of control | 1,745,205 | |||
Discontinued operations [member] | ||||
Right-of-Use Assets (Details) [Line Items] | ||||
Amortization | 55,041 | |||
Right-of-use assets [member] | ||||
Right-of-Use Assets (Details) [Line Items] | ||||
Amortization | 143,805 | $ 115,183 | ||
Impact of loss of control | 1,745,205 | |||
Office Lease [Member] | ||||
Right-of-Use Assets (Details) [Line Items] | ||||
Monthly lease payment | $ 20,000 | |||
Term of lease | 2 years | |||
Amortization | ||||
Impact of loss of control |
Right-of-Use Assets (Details) -
Right-of-Use Assets (Details) - Schedule of Right-of-Use Assets - USD ($) | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Right-of-Use Assets (Details) - Schedule of Right-of-Use Assets [Line Items] | ||||
Beginning Balance | $ 1,908,877 | |||
Additions | 432,335 | |||
Amortization | $ (102,840) | (88,764) | ||
Amortization – Bophelo | (55,041) | |||
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | (1,745,205) | |||
Movement in exchange rates | 5,412 | (128,132) | (175,719) | |
Ending Balance | 226,642 | 324,070 | ||
Land Lease [Member] | ||||
Right-of-Use Assets (Details) - Schedule of Right-of-Use Assets [Line Items] | ||||
Beginning Balance | 1,908,877 | |||
Additions | ||||
Amortization | ||||
Amortization – Bophelo | (55,041) | |||
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | (1,745,205) | |||
Movement in exchange rates | (108,631) | (175,719) | $ (153,863) | |
Ending Balance | ||||
Office Lease [Member] | ||||
Right-of-Use Assets (Details) - Schedule of Right-of-Use Assets [Line Items] | ||||
Beginning Balance | ||||
Additions | 432,335 | |||
Amortization | (102,840) | (88,764) | ||
Amortization – Bophelo | ||||
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | ||||
Movement in exchange rates | 5,412 | (19,501) | ||
Ending Balance | $ 226,642 | $ 324,070 |
Intangible Assets (Details)
Intangible Assets (Details) - USD ($) | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Intangible Assets (Details) [Line Items] | ||||
Intangible assets at carrying value | $ 20,972,510 | $ 22,208,594 | $ 259,102 | $ 321,406 |
Intangible assets useful life | 10 years | |||
Impairment loss during the year | ||||
Computer software [member] | ||||
Intangible Assets (Details) [Line Items] | ||||
Intangible assets at carrying value | 9,927 | |||
Cannabis Distribution License [Member] | ||||
Intangible Assets (Details) [Line Items] | ||||
Intangible assets at carrying value | 15,986 | 15,264 | 17,016 | 17,146 |
Cannabis API manufacturing and GMP license [Member] | ||||
Intangible Assets (Details) [Line Items] | ||||
Intangible assets at carrying value | $ 20,950,992 | 22,183,403 | 242,086 | |
Cannabis Operator's License [Member] | ||||
Intangible Assets (Details) [Line Items] | ||||
Intangible assets at carrying value | $ 210,402 | $ 242,086 | $ 304,260 | |
Intangible assets useful life | 8 years 6 months | 9 years | 6 years 6 months |
Intangible Assets (Details) - S
Intangible Assets (Details) - Schedule of Intangible Assets - USD ($) | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Intangible Assets (Details) - Schedule of Intangible Assets [Line Items] | ||||
Amortization | $ 22,208,594 | |||
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | 2,264,147 | |||
Balance, ending of period | $ 20,972,510 | |||
Gross carrying amount [member] | ||||
Intangible Assets (Details) - Schedule of Intangible Assets [Line Items] | ||||
Balance, beginning of period | 389,456 | |||
Acquisitions | 24,665,772 | |||
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | (350,670) | |||
Movement in exchange rates | 1,477 | (22,888) | ||
Balance, ending of period | 24,683,147 | 24,681,670 | ||
Accumulated depreciation and amortisation [member] | ||||
Intangible Assets (Details) - Schedule of Intangible Assets [Line Items] | ||||
Balance, beginning of period | 130,354 | |||
Amortization | 1,236,945 | 2,472,372 | ||
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | (140,268) | |||
Movement in exchange rates | 616 | 10,618 | ||
Balance, ending of period | 3,710,637 | 2,473,076 | ||
Software [Member] | ||||
Intangible Assets (Details) - Schedule of Intangible Assets [Line Items] | ||||
Amortization | 9,927 | |||
Balance, ending of period | 5,532 | |||
Software [Member] | Gross carrying amount [member] | ||||
Intangible Assets (Details) - Schedule of Intangible Assets [Line Items] | ||||
Balance, beginning of period | ||||
Acquisitions | 17,548 | |||
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | ||||
Movement in exchange rates | 755 | 633 | ||
Balance, ending of period | 18,936 | 18,181 | ||
Software [Member] | Accumulated depreciation and amortisation [member] | ||||
Intangible Assets (Details) - Schedule of Intangible Assets [Line Items] | ||||
Balance, beginning of period | ||||
Amortization | 4,534 | 7,550 | ||
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | ||||
Movement in exchange rates | 616 | 704 | ||
Balance, ending of period | 13,404 | 8,254 | ||
Licences [Member] | ||||
Intangible Assets (Details) - Schedule of Intangible Assets [Line Items] | ||||
Amortization | 22,198,667 | |||
Balance, ending of period | 20,966,978 | |||
Licences [Member] | Gross carrying amount [member] | ||||
Intangible Assets (Details) - Schedule of Intangible Assets [Line Items] | ||||
Balance, beginning of period | 389,456 | |||
Acquisitions | 24,648,224 | |||
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | (350,670) | |||
Movement in exchange rates | 722 | (23,521) | $ (33,370) | $ (15,085) |
Balance, ending of period | 24,664,211 | 24,663,489 | ||
Licences [Member] | Accumulated depreciation and amortisation [member] | ||||
Intangible Assets (Details) - Schedule of Intangible Assets [Line Items] | ||||
Balance, beginning of period | 130,354 | |||
Amortization | 1,232,411 | 2,464,822 | ||
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | (140,268) | |||
Movement in exchange rates | 9,914 | $ (9,832) | $ (3,119) | |
Balance, ending of period | $ 3,697,233 | $ 2,464,822 |
Loan Receivable (Details)
Loan Receivable (Details) | 6 Months Ended | 12 Months Ended | |||||||
Nov. 10, 2022 USD ($) | Jun. 30, 2023 USD ($) | Dec. 31, 2022 USD ($) | Jun. 30, 2023 GBP (£) | Jan. 31, 2023 USD ($) | Dec. 31, 2022 GBP (£) | Mar. 14, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2021 GBP (£) | |
Loan Receivable (Details) [Line Items] | |||||||||
Loan receivable | $ 506,460 | $ 483,588 | £ 400,000 | ||||||
Principal amount | 2,462,763 | $ 328,000 | $ 6,559,294 | 174,840 | |||||
Cellen Life Sciences Limited [Member] | |||||||||
Loan Receivable (Details) [Line Items] | |||||||||
Loan receivable | 483,588 | ||||||||
Loan Restructuring Agreement | Cellen Life Sciences Limited [Member] | |||||||||
Loan Receivable (Details) [Line Items] | |||||||||
Loan payable | $ 500,000 | 500,000 | $ 500,000 | ||||||
Interest rate, percentage | 5% | ||||||||
Principal amount | $ 500,000 | ||||||||
Bridge Loan Arrangement [Member] | |||||||||
Loan Receivable (Details) [Line Items] | |||||||||
Loan receivable | £ 400,000 | £ 400,000 |
Loan Receivable (Details) - Sch
Loan Receivable (Details) - Schedule of Loan Receivable | Jun. 30, 2023 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2022 GBP (£) | Dec. 31, 2021 USD ($) |
Schedule Of Loan Receivable Abstract | ||||
Loan to Cellen Life Sciences Limited | $ 506,460 | $ 483,588 | £ 400,000 |
Lease Liability (Details)
Lease Liability (Details) - USD ($) | Aug. 01, 2022 | Dec. 31, 2022 | Dec. 31, 2021 |
Lease Liability (Details) [Line Items] | |||
Lease payment | $ 20,000 | ||
Lease term | 2 years | ||
Derecognized lease liability with net book value | $ (2,375,590) | $ 2,418,706 | |
Lease Liability [Member] | |||
Lease Liability (Details) [Line Items] | |||
Derecognized lease liability with net book value | $ 2,375,590 |
Lease Liability (Details) - Sch
Lease Liability (Details) - Schedule of Lease Liability - USD ($) | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2023 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2020 | |
Schedule of Lease Liability [Abstract] | ||||
Current Maturity | 2023 | 2022 | ||
Current Incremental borrowing rate | 10.25% | 10.25% | ||
Current lease liabilities | $ 225,265 | $ 439,709 | $ 214,058 | $ 283,976 |
Non-current Maturity | 2024 | 2023 – 2039 | ||
Non-current Incremental borrowing rate | 10.25% | 10.25% | ||
Non-current lease liabilities | $ 19,831 | $ 1,978,997 | 116,763 | 2,598,176 |
Total lease liability | $ 245,096 | $ 2,418,706 | $ 330,821 | $ 2,882,152 |
Lease Liability (Details) - _Sc
Lease Liability (Details) - Schedule of Lease Liability Recognized - USD ($) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Lease Liability (Details) - Schedule of Lease Liability Recognized [Line Items] | |||
Balance, beginning of period | $ 2,418,706 | ||
Present value of lease payments | 432,335 | ||
Accrued interest | $ 15,701 | 120,875 | |
Cash payments | (60,000) | (80,000) | |
Accounts payable | (60,000) | (20,000) | |
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. (note 5) | (2,375,590) | $ 2,418,706 | |
Movement in exchange rates | 18,574 | (165,505) | |
Balance, ending of period | 245,096 | 330,821 | |
Land Lease [Member] | |||
Lease Liability (Details) - Schedule of Lease Liability Recognized [Line Items] | |||
Balance, beginning of period | 2,418,706 | ||
Present value of lease payments | |||
Accrued interest | 103,816 | ||
Cash payments | |||
Accounts payable | |||
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. (note 5) | (2,375,590) | ||
Movement in exchange rates | (146,932) | ||
Balance, ending of period | |||
Office Lease [Member] | |||
Lease Liability (Details) - Schedule of Lease Liability Recognized [Line Items] | |||
Balance, beginning of period | |||
Present value of lease payments | 432,335 | ||
Accrued interest | 15,701 | 17,059 | |
Cash payments | (60,000) | (80,000) | |
Accounts payable | (60,000) | (20,000) | |
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. (note 5) | |||
Movement in exchange rates | 18,574 | (18,573) | |
Balance, ending of period | $ 245,096 | $ 330,821 |
Lease Liability (Details) - S_2
Lease Liability (Details) - Schedule of Undiscounted Minimum Lease Payments Remaining - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Lease Liability (Details) - Schedule of Undiscounted Minimum Lease Payments Remaining [Line Items] | |||
Undiscounted minimum lease payments | $ 260,000 | $ 380,000 | $ 4,345,129 |
2023 [Member] | |||
Lease Liability (Details) - Schedule of Undiscounted Minimum Lease Payments Remaining [Line Items] | |||
Undiscounted minimum lease payments | 120,000 | 240,000 | 108,628 |
2024 [Member] | |||
Lease Liability (Details) - Schedule of Undiscounted Minimum Lease Payments Remaining [Line Items] | |||
Undiscounted minimum lease payments | $ 140,000 | $ 140,000 | $ 260,708 |
Loans and Borrowings (Details)
Loans and Borrowings (Details) | 1 Months Ended | 6 Months Ended | 12 Months Ended | |||||||||||||||||
Jan. 17, 2023 USD ($) | Mar. 22, 2022 $ / shares | Mar. 14, 2022 USD ($) $ / shares shares | Nov. 12, 2021 $ / shares | Nov. 11, 2021 USD ($) $ / shares shares | Nov. 10, 2021 USD ($) $ / shares shares | Jul. 26, 2021 $ / shares | Oct. 31, 2020 USD ($) | Oct. 29, 2020 USD ($) | May 31, 2020 USD ($) | Jun. 30, 2023 USD ($) shares | Jun. 30, 2022 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | Jan. 31, 2023 USD ($) | Jan. 17, 2023 EUR (€) | Dec. 31, 2022 LSL (M) | Dec. 31, 2022 EUR (€) | Mar. 15, 2022 USD ($) | |
Loans and Borrowings (Details) [Line Items] | ||||||||||||||||||||
Principal loan amount | $ 6,559,294 | $ 2,462,763 | $ 174,840 | $ 328,000 | ||||||||||||||||
Borrowing term | 18 months | |||||||||||||||||||
Balance of unpaid interest | $ 23,686 | $ 9,068 | ||||||||||||||||||
Payable of wrote down | ||||||||||||||||||||
Borrowings | $ 1,350,813 | $ 6,582,980 | ||||||||||||||||||
Borrowings, interest rate | 1% | |||||||||||||||||||
Accounts payable | 3,303,221 | 3,414,582 | ||||||||||||||||||
Bear interest | 125,013 | |||||||||||||||||||
Accrued interest | 1,450,112 | 30,224 | ||||||||||||||||||
Principal amount | $ 328,000 | |||||||||||||||||||
Shares issued (in Shares) | shares | 1,645,745 | 880,000 | 880,000 | |||||||||||||||||
Borrowing minimum capital raise to trigger repayment | $ 18,000,000 | |||||||||||||||||||
Additional borrowing | 100,000 | |||||||||||||||||||
Price per share (in Dollars per share) | $ / shares | $ 31 | $ 4 | $ 2.5 | $ 2.5 | $ 2.5 | $ 0.53 | ||||||||||||||
Total value | $ 6,582,980 | $ 2,200,000 | $ 2,200,000 | 2,200,000 | ||||||||||||||||
Short Term Loan One [Member] | ||||||||||||||||||||
Loans and Borrowings (Details) [Line Items] | ||||||||||||||||||||
Principal loan amount | $ 135,226 | |||||||||||||||||||
Borrowing term | 30 days | |||||||||||||||||||
Short Term Loan Two [Member] | ||||||||||||||||||||
Loans and Borrowings (Details) [Line Items] | ||||||||||||||||||||
Principal loan amount | $ 190,444 | |||||||||||||||||||
Short Term Loan Incepted 2021 [Member] | ||||||||||||||||||||
Loans and Borrowings (Details) [Line Items] | ||||||||||||||||||||
Principal loan amount | M | M 4,000,000 | |||||||||||||||||||
Other Loan [Member] | ||||||||||||||||||||
Loans and Borrowings (Details) [Line Items] | ||||||||||||||||||||
Principal loan amount | $ 48,666 | € 45,000 | ||||||||||||||||||
Short Term Loan One [Member] | ||||||||||||||||||||
Loans and Borrowings (Details) [Line Items] | ||||||||||||||||||||
Principal loan amount | $ 135,226 | $ 135,226 | ||||||||||||||||||
Borrowing term | 30 days | 30 days | ||||||||||||||||||
Payable of wrote down | ||||||||||||||||||||
Borrowings | 9,068 | $ 11,230 | ||||||||||||||||||
Short Term Loan Two [Member] | ||||||||||||||||||||
Loans and Borrowings (Details) [Line Items] | ||||||||||||||||||||
Principal loan amount | 190,444 | 190,444 | ||||||||||||||||||
Payable of wrote down | ||||||||||||||||||||
Borrowings | 174,840 | 190,444 | ||||||||||||||||||
Short Term Loan Incepted 2021 [Member] | ||||||||||||||||||||
Loans and Borrowings (Details) [Line Items] | ||||||||||||||||||||
Principal loan amount | 258,900 | 4,000,000 | ||||||||||||||||||
Borrowings | 248,293 | |||||||||||||||||||
Short Term Bank Loans [Member] | ||||||||||||||||||||
Loans and Borrowings (Details) [Line Items] | ||||||||||||||||||||
Principal loan amount | $ 803,627 | $ 772,955 | ||||||||||||||||||
Borrowings, interest rate | 3% | 3% | 3% | |||||||||||||||||
Long Term Bank Loans [Member] | ||||||||||||||||||||
Loans and Borrowings (Details) [Line Items] | ||||||||||||||||||||
Principal loan amount | $ 2,632,103 | |||||||||||||||||||
Borrowings, interest rate | 3% | 3% | 3% | |||||||||||||||||
Other Loan [Member] | ||||||||||||||||||||
Loans and Borrowings (Details) [Line Items] | ||||||||||||||||||||
Principal loan amount | $ 30,224 | € 25,000 | ||||||||||||||||||
Bear interest (in Euro) | € | 200 | |||||||||||||||||||
Unpaid amount payment (in Euro) | € | € 200 | |||||||||||||||||||
Bear interest rate | 0.75% | 7% | ||||||||||||||||||
Unpaid amount rate | 1% | |||||||||||||||||||
Bear interest | $ 25,092 | |||||||||||||||||||
Accrued interest | $ 206,704 | |||||||||||||||||||
Bridge Loans [Member] | ||||||||||||||||||||
Loans and Borrowings (Details) [Line Items] | ||||||||||||||||||||
Principal loan amount | 1,100,000 | $ 1,100,000 | $ 1,000,000 | $ 1,000,000 | ||||||||||||||||
Borrowing term | 18 months | |||||||||||||||||||
Borrowings | $ 2,200,000 | 1,100,000 | ||||||||||||||||||
Borrowings, interest rate | 1.50% | 1.50% | 1.50% | 1.50% | ||||||||||||||||
Bear interest rate | 7% | |||||||||||||||||||
Shares issued (in Shares) | shares | 880,000 | 582,193 | ||||||||||||||||||
Loans received | $ 1,118,617 | |||||||||||||||||||
Borrowing, redemption premium | 100% | 100% | 100% | |||||||||||||||||
Borrowing minimum capital raise to trigger repayment | $ 18,000,000 | $ 18,000,000 | $ 18,000,000 | |||||||||||||||||
Amount of redemption premium | $ 1,100,000 | |||||||||||||||||||
Price per share (in Dollars per share) | $ / shares | $ 2.5 | |||||||||||||||||||
Total value | $ 2,200,000 | |||||||||||||||||||
Borrowing, additional capacity | $ 100,000 | |||||||||||||||||||
Shares For Debt Loan [Member] | ||||||||||||||||||||
Loans and Borrowings (Details) [Line Items] | ||||||||||||||||||||
Shares issued (in Shares) | shares | 880,000 | |||||||||||||||||||
Borrowing, redemption premium | 100% | |||||||||||||||||||
Total value | $ 2,200,000 | |||||||||||||||||||
Short Term Loan Incepted 2021 [Member] | ||||||||||||||||||||
Loans and Borrowings (Details) [Line Items] | ||||||||||||||||||||
Principal loan amount | $ 258,900 | M 4,000,000 | ||||||||||||||||||
Operating cost | $ 258,900 |
Share Capital (Details)
Share Capital (Details) | 1 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Jun. 06, 2023 shares | May 02, 2023 USD ($) $ / shares shares | Mar. 09, 2023 | Jan. 26, 2023 shares | Jan. 24, 2023 USD ($) $ / shares | Nov. 22, 2022 USD ($) shares | Nov. 21, 2022 USD ($) $ / shares shares | Oct. 28, 2022 USD ($) $ / shares shares | Sep. 22, 2022 USD ($) $ / shares shares | Sep. 21, 2022 USD ($) $ / shares | Sep. 08, 2022 USD ($) shares | Sep. 06, 2022 USD ($) $ / shares | Aug. 25, 2022 USD ($) shares | Aug. 18, 2022 USD ($) $ / shares | Aug. 11, 2022 USD ($) $ / shares shares | Aug. 04, 2022 USD ($) shares | Jul. 29, 2022 USD ($) $ / shares | Apr. 29, 2022 $ / shares shares | Apr. 22, 2022 shares | Mar. 22, 2022 $ / shares | Mar. 17, 2022 shares | Mar. 15, 2022 USD ($) $ / shares shares | Mar. 14, 2022 USD ($) $ / shares shares | Feb. 10, 2022 USD ($) shares | Jan. 14, 2022 USD ($) shares | Nov. 21, 2021 $ / shares | Nov. 12, 2021 USD ($) $ / shares shares | Nov. 11, 2021 USD ($) $ / shares shares | Nov. 10, 2021 USD ($) $ / shares shares | Jul. 26, 2021 $ / shares shares | Jul. 16, 2021 shares | Jul. 31, 2023 USD ($) | Jun. 30, 2023 USD ($) $ / shares shares | Jun. 30, 2022 USD ($) shares | Dec. 31, 2022 USD ($) $ / shares shares | Dec. 31, 2021 USD ($) $ / shares shares | Dec. 31, 2020 USD ($) shares | Dec. 31, 2019 USD ($) shares | Sep. 22, 2023 shares | |
Share Capital (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||
Stock price (in Dollars per share) | $ / shares | $ 8.49 | $ 4 | $ 25 | $ 0.01 | $ 0.53 | ||||||||||||||||||||||||||||||||||
Reverse stock split | the Company implemented a 1-for-10 reverse stock split | ||||||||||||||||||||||||||||||||||||||
Number of ordinary shares issued (in Shares) | 20,610 | 637,254 | 421,052 | 82,000 | 60,810 | 20,620 | 91,836 | 4,000,000 | 475,959 | ||||||||||||||||||||||||||||||
Number of RSUs granted | 200,014 | 707,352 | 774,736 | 82,000 | 112,456 | ||||||||||||||||||||||||||||||||||
Accounts paybale | $ | $ 528,315 | ||||||||||||||||||||||||||||||||||||||
Issuance of shares to ASDT (in Shares) | 86,996 | ||||||||||||||||||||||||||||||||||||||
Issuance of shares to ASDT | $ | $ 2,124,615 | $ 2,124,615 | |||||||||||||||||||||||||||||||||||||
Net proceeds after deducting expenses | $ | |||||||||||||||||||||||||||||||||||||||
Issuance of share on private placement (in Shares) | 8,000 | 154,000 | 2,126,400 | ||||||||||||||||||||||||||||||||||||
Proceeds from issuance of shares | $ | $ 360,960 | $ 5,054,058 | $ 1,477 | ||||||||||||||||||||||||||||||||||||
Advisory fees | $ | $ 508,078 | ||||||||||||||||||||||||||||||||||||||
Issuance of shares upon conversion of note (in Shares) | 164,574 | ||||||||||||||||||||||||||||||||||||||
Issuance of shares upon conversion of note | $ | $ 6,559,294 | 6,559,000 | |||||||||||||||||||||||||||||||||||||
Accrued interest | $ | 23,686 | ||||||||||||||||||||||||||||||||||||||
Loans and borrowings | $ | $ 6,582,980 | $ 1,350,813 | |||||||||||||||||||||||||||||||||||||
Gross proceeds from issuance of shares | $ | $ 14,654,593 | $ 14,654,593 | |||||||||||||||||||||||||||||||||||||
Issuance of shares in holigen acquisition (in Shares) | 13,129,212 | 13,129,212 | |||||||||||||||||||||||||||||||||||||
Amount of gross consideration | $ | $ 138,000 | $ 210,740 | $ 431,757 | $ 560,135 | $ 200,014 | $ 890,818 | $ 20,000 | $ 385,000 | $ 5,312,136 | $ 1,477 | $ 156 | ||||||||||||||||||||||||||||
Weighted average number of common shares outstanding for basic (in Shares) | 4,029,293 | 29,930,094 | 16,223,996 | ||||||||||||||||||||||||||||||||||||
Weighted average number of ordinary shares outstanding for diluted earnings per share (in Shares) | 4,029,293 | 2,683,544 | 29,930,094 | 16,223,996 | 13,129,212 | 13,129,212 | |||||||||||||||||||||||||||||||||
Expenses related to the RSUs as consulting fees | $ | $ 1,695,753 | ||||||||||||||||||||||||||||||||||||||
Granted | 1,058,306 | 780,400 | |||||||||||||||||||||||||||||||||||||
Fair value of the granted RSUs | $ | $ 431,757 | ||||||||||||||||||||||||||||||||||||||
Exercised | 582,347 | 382,835 | |||||||||||||||||||||||||||||||||||||
Restricted stock units, shares (in Shares) | 161,295 | 879,895 | |||||||||||||||||||||||||||||||||||||
Issuance of share to founder (in Shares) | 5,626,806 | ||||||||||||||||||||||||||||||||||||||
Issuance of share in seed subscription (in Shares) | 468,900 | ||||||||||||||||||||||||||||||||||||||
Issuance of share on conversion of debt (in Shares) | 1,645,745 | 880,000 | 880,000 | ||||||||||||||||||||||||||||||||||||
Settlement of bridge loan | $ | $ 6,582,980 | $ 2,200,000 | $ 2,200,000 | 2,200,000 | |||||||||||||||||||||||||||||||||||
Common shares par value (in Dollars per share) | $ / shares | $ 31 | $ 4 | $ 2.5 | $ 2.5 | $ 2.5 | $ 0.53 | |||||||||||||||||||||||||||||||||
Halo Collective, Inc Loan [Member] | |||||||||||||||||||||||||||||||||||||||
Share Capital (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||
Stock price (in Dollars per share) | $ / shares | $ 40 | ||||||||||||||||||||||||||||||||||||||
Issuance of shares upon conversion of note (in Shares) | 164,574 | ||||||||||||||||||||||||||||||||||||||
Issuance of shares upon conversion of note | $ | $ 6,559,294 | ||||||||||||||||||||||||||||||||||||||
Accrued interest | $ | 23,686 | ||||||||||||||||||||||||||||||||||||||
Loans and borrowings | $ | $ 6,582,980 | ||||||||||||||||||||||||||||||||||||||
Previously stated [member] | |||||||||||||||||||||||||||||||||||||||
Share Capital (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||
Issuance of shares to ASDT (in Shares) | 869,963 | ||||||||||||||||||||||||||||||||||||||
Issuance of shares to ASDT | $ | $ 2,174,908 | ||||||||||||||||||||||||||||||||||||||
Issuance of shares upon conversion of note (in Shares) | 1,645,745 | ||||||||||||||||||||||||||||||||||||||
Issuance of shares upon conversion of note | $ | $ 6,559,000 | ||||||||||||||||||||||||||||||||||||||
Settlement of bridge loan | $ | 2,200,000 | ||||||||||||||||||||||||||||||||||||||
Previously stated [member] | Halo Collective, Inc Loan [Member] | |||||||||||||||||||||||||||||||||||||||
Share Capital (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||
Issuance of shares upon conversion of note (in Shares) | 1,645,745 | ||||||||||||||||||||||||||||||||||||||
Halo Collective, Inc | |||||||||||||||||||||||||||||||||||||||
Share Capital (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||
Stock price (in Dollars per share) | $ / shares | $ 4 | ||||||||||||||||||||||||||||||||||||||
Loans and borrowings | $ | 6,716,190 | $ 4,688,226 | |||||||||||||||||||||||||||||||||||||
Issuance of share (in Shares) | 13,129,212 | ||||||||||||||||||||||||||||||||||||||
Cannahealth Limited [Member] | |||||||||||||||||||||||||||||||||||||||
Share Capital (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||
Common shares par value (in Dollars per share) | $ / shares | $ 0.01 | ||||||||||||||||||||||||||||||||||||||
Issuance of share (in Shares) | 13,129,212 | ||||||||||||||||||||||||||||||||||||||
Restricted Stock Units [Member[ | |||||||||||||||||||||||||||||||||||||||
Share Capital (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||
Number of RSUs granted | 60,810 | 675,676 | |||||||||||||||||||||||||||||||||||||
Maximum percentage of issued share capital in qualifying ESOP incentives | 20% | ||||||||||||||||||||||||||||||||||||||
Restricted stock units (in Shares) | 248,053 | ||||||||||||||||||||||||||||||||||||||
Service cost | $ | $ 561,285 | ||||||||||||||||||||||||||||||||||||||
Expenses related to the RSUs as consulting fees | $ | $ 2,431,464 | ||||||||||||||||||||||||||||||||||||||
Vesting period | 36 months | ||||||||||||||||||||||||||||||||||||||
Granted | 637,254 | 421,052 | 82,000 | 300,000 | 98,896 | 60,810 | 20,620 | 112,456 | 2,480,532 | 7,804,046 | |||||||||||||||||||||||||||||
Market price per share of RSUs granted (in Dollars per share) | $ / shares | $ 0.23 | $ 0.26 | $ 0.56 | $ 0.97 | |||||||||||||||||||||||||||||||||||
Fair value of the granted RSUs | $ | $ 707,352 | $ 774,736 | $ 138,000 | $ 210,740 | $ 168,000 | $ 598,321 | $ 560,135 | $ 212,386 | $ 1,090,832 | ||||||||||||||||||||||||||||||
Exercised | 60,810 | 82,000 | 112,456 | 3,828,353 | |||||||||||||||||||||||||||||||||||
Restricted stock units, shares (in Shares) | 30,000 | 475,959 | |||||||||||||||||||||||||||||||||||||
Restricted Stock Units [Member[ | Previously stated [member] | |||||||||||||||||||||||||||||||||||||||
Share Capital (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||
Number of RSUs granted | 608,108 | ||||||||||||||||||||||||||||||||||||||
Restricted Stock Units [Member[ | Consultant [Member] | |||||||||||||||||||||||||||||||||||||||
Share Capital (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||
Market price per share of RSUs granted (in Dollars per share) | $ / shares | $ 1.11 | $ 1.84 | $ 2.3 | $ 2.6 | $ 6.1 | $ 7.1 | $ 8.3 | $ 10.3 | $ 9.7 | ||||||||||||||||||||||||||||||
Restricted Stock Units [Member[ | Officer [Member] | |||||||||||||||||||||||||||||||||||||||
Share Capital (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||
Market price per share of RSUs granted (in Dollars per share) | $ / shares | $ 5.6 | ||||||||||||||||||||||||||||||||||||||
Holigen Limited | |||||||||||||||||||||||||||||||||||||||
Share Capital (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||
Stock price (in Dollars per share) | $ / shares | $ 84.9 | ||||||||||||||||||||||||||||||||||||||
Issuance of shares in holigen acquisition (in Shares) | 190,000 | ||||||||||||||||||||||||||||||||||||||
Holigen Limited | Previously stated [member] | |||||||||||||||||||||||||||||||||||||||
Share Capital (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||
Issuance of shares in holigen acquisition (in Shares) | 1,900,000 | ||||||||||||||||||||||||||||||||||||||
RSUs [Member] | |||||||||||||||||||||||||||||||||||||||
Share Capital (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||
Number of ordinary shares issued (in Shares) | 60,000 | 206,200 | |||||||||||||||||||||||||||||||||||||
Fair Value [Member] | Restricted Stock Units [Member[ | |||||||||||||||||||||||||||||||||||||||
Share Capital (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||
Number of RSUs granted | 820,000 | 1,124,569 | |||||||||||||||||||||||||||||||||||||
Granted | 60,000 | 820,000 | 67,567 | 1,124,569 | |||||||||||||||||||||||||||||||||||
Exercised | 600,000 | 820,000 | 1,124,569 | 67,567 | |||||||||||||||||||||||||||||||||||
Restricted stock units, shares (in Shares) | 600,000 | ||||||||||||||||||||||||||||||||||||||
Fair Value [Member] | Restricted Stock Units [Member[ | Consultant [Member] | |||||||||||||||||||||||||||||||||||||||
Share Capital (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||
Exercised | 60,000 | ||||||||||||||||||||||||||||||||||||||
Ordinary shares [member] | |||||||||||||||||||||||||||||||||||||||
Share Capital (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||
Stock price (in Dollars per share) | $ / shares | |||||||||||||||||||||||||||||||||||||||
Number of RSUs granted | 112,456 | ||||||||||||||||||||||||||||||||||||||
Granted | 988,961 | ||||||||||||||||||||||||||||||||||||||
Common shares par value (in Dollars per share) | $ / shares | |||||||||||||||||||||||||||||||||||||||
Ordinary shares [member] | Restricted Stock Units [Member[ | |||||||||||||||||||||||||||||||||||||||
Share Capital (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||
Granted | 608,108 | 675,676 | 206,200 | ||||||||||||||||||||||||||||||||||||
Market price per share of RSUs granted (in Dollars per share) | $ / shares | $ 0.61 | $ 0.71 | $ 0.83 | $ 1.03 | |||||||||||||||||||||||||||||||||||
Fair value of the granted RSUs | $ | $ 560,135 | $ 212,386 | |||||||||||||||||||||||||||||||||||||
Exercised | 608,108 | 675,676 | |||||||||||||||||||||||||||||||||||||
Ordinary shares [member] | Share capital [member] | |||||||||||||||||||||||||||||||||||||||
Share Capital (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||
Fair value of the granted RSUs | $ | $ 431,757 | ||||||||||||||||||||||||||||||||||||||
Common Shares [Member] | |||||||||||||||||||||||||||||||||||||||
Share Capital (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||
Number of ordinary shares issued (in Shares) | 675,676 | 918,369 | |||||||||||||||||||||||||||||||||||||
Restricted stock units, shares (in Shares) | 140,746 | ||||||||||||||||||||||||||||||||||||||
Common Shares [Member] | Fair Value [Member] | |||||||||||||||||||||||||||||||||||||||
Share Capital (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||
Number of ordinary shares issued (in Shares) | 600,000 | 820,000 | 67,567 | ||||||||||||||||||||||||||||||||||||
Number of RSUs granted | 60,000 | 67,567 | 1,124,569 | ||||||||||||||||||||||||||||||||||||
Common Shares [Member] | Ordinary shares [member] | Previously stated [member] | |||||||||||||||||||||||||||||||||||||||
Share Capital (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||
Number of ordinary shares issued (in Shares) | 608,108 | ||||||||||||||||||||||||||||||||||||||
Private placement | |||||||||||||||||||||||||||||||||||||||
Share Capital (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||
Stock price (in Dollars per share) | $ / shares | $ 2.5 | $ 2.5 | $ 2.5 | ||||||||||||||||||||||||||||||||||||
Issuance of share on private placement (in Shares) | 16,200 | 2,126,400 | |||||||||||||||||||||||||||||||||||||
Proceeds from issuance of shares | $ | $ 405,000 | $ 5,312,136 | |||||||||||||||||||||||||||||||||||||
Advisory fees | $ | $ 126,519 | $ 508,078 | |||||||||||||||||||||||||||||||||||||
Issuance of share on conversion of debt (in Shares) | 880,000 | ||||||||||||||||||||||||||||||||||||||
Settlement of bridge loan | $ | $ 2,200,000 | ||||||||||||||||||||||||||||||||||||||
Private placement | Common Shares [Member] | |||||||||||||||||||||||||||||||||||||||
Share Capital (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||
Issuance of share on private placement (in Shares) | 162,000 | ||||||||||||||||||||||||||||||||||||||
IPO | |||||||||||||||||||||||||||||||||||||||
Share Capital (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||
Net proceeds after deducting expenses | $ | $ 14,682,089 | ||||||||||||||||||||||||||||||||||||||
Issuance of shares from IPO (in Shares) | 400,000 | ||||||||||||||||||||||||||||||||||||||
Gross proceeds from issuance of shares | $ | $ 16,000,000 | ||||||||||||||||||||||||||||||||||||||
IPO | Previously stated [member] | |||||||||||||||||||||||||||||||||||||||
Share Capital (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||
Issuance of shares from IPO (in Shares) | 4,000,000 |
Share Capital (Details) - Sched
Share Capital (Details) - Schedule of Shares Issued and Outstanding - USD ($) | 6 Months Ended | 12 Months Ended | ||||||||||||||||||
Jun. 06, 2023 | May 02, 2023 | Jan. 26, 2023 | Nov. 22, 2022 | Oct. 28, 2022 | Sep. 08, 2022 | Aug. 25, 2022 | Aug. 11, 2022 | Aug. 04, 2022 | Mar. 17, 2022 | Mar. 15, 2022 | Mar. 14, 2022 | Feb. 10, 2022 | Jan. 14, 2022 | Nov. 12, 2021 | Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Share Capital (Details) - Schedule of Shares Issued and Outstanding [Line Items] | ||||||||||||||||||||
Balance | 3,463,734 | 2,223,131 | ||||||||||||||||||
Balance | $ 49,434,692 | $ 7,255,695 | $ (5,031,943) | $ (2,904,521) | $ (1,467,470) | |||||||||||||||
Issuance of shares to ASDT | 86,996 | |||||||||||||||||||
Issuance of shares to ASDT | $ 2,124,615 | 2,124,615 | ||||||||||||||||||
Issuance of shares from private placement | 8,000 | 154,000 | 2,126,400 | |||||||||||||||||
Issuance of shares from private placement | $ 138,000 | $ 210,740 | $ 431,757 | $ 560,135 | $ 200,014 | $ 890,818 | $ 20,000 | $ 385,000 | $ 5,312,136 | $ 1,477 | 156 | |||||||||
Issuance of shares upon conversion of note | 164,574 | |||||||||||||||||||
Issuance of shares upon conversion of note | $ 6,559,294 | 6,559,000 | ||||||||||||||||||
Issuance of shares in Holigen acquisition | 13,129,212 | 13,129,212 | ||||||||||||||||||
Loss of control of Bophelo Bio | $ (24,388) | |||||||||||||||||||
Fair value of RSUs issued | 20,610 | 637,254 | 421,052 | 82,000 | 60,810 | 20,620 | 91,836 | 4,000,000 | 475,959 | |||||||||||
Balance | 3,463,734 | 2,223,131 | ||||||||||||||||||
Balance | $ 49,434,692 | $ 7,255,695 | $ (5,031,943) | $ (2,904,521) | ||||||||||||||||
Private placement | ||||||||||||||||||||
Share Capital (Details) - Schedule of Shares Issued and Outstanding [Line Items] | ||||||||||||||||||||
Issuance of shares from private placement | 16,200 | 2,126,400 | ||||||||||||||||||
IPO | ||||||||||||||||||||
Share Capital (Details) - Schedule of Shares Issued and Outstanding [Line Items] | ||||||||||||||||||||
Issuance of shares from IPO | 400,000 | |||||||||||||||||||
Shares Issued and Outstanding Capital [Member] | ||||||||||||||||||||
Share Capital (Details) - Schedule of Shares Issued and Outstanding [Line Items] | ||||||||||||||||||||
Balance | 34,637,379 | 22,231,318 | 13,129,212 | |||||||||||||||||
Balance | $ 49,434,692 | $ 7,255,695 | $ 1,636 | |||||||||||||||||
Issuance of shares to ASDT | 86,996 | |||||||||||||||||||
Issuance of shares to ASDT | $ 2,124,615 | |||||||||||||||||||
Issuance of shares from private placement | 162,000 | 2,126,400 | ||||||||||||||||||
Issuance of shares from private placement | $ 278,481 | $ 4,804,058 | ||||||||||||||||||
Issuance of shares upon conversion of note | 164,574 | |||||||||||||||||||
Issuance of shares upon conversion of note | $ 6,559,000 | |||||||||||||||||||
Issuance of shares from IPO | 4,000,000 | |||||||||||||||||||
Issuance of shares from IPO | $ 14,654,593 | |||||||||||||||||||
Issuance of shares in Holigen acquisition | 190,000 | |||||||||||||||||||
Issuance of shares in Holigen acquisition | $ 16,131,000 | |||||||||||||||||||
Loss of control of Bophelo Bio | $ (156) | |||||||||||||||||||
Loss of control of Bophelo Bio | ||||||||||||||||||||
Cancelled shares | (20,620) | |||||||||||||||||||
Cancelled shares | $ (200,014) | |||||||||||||||||||
Balance | 4,025,461 | 34,637,379 | 22,231,318 | 13,129,212 | ||||||||||||||||
Balance | $ 50,188,451 | $ 49,434,692 | $ 7,255,695 | $ 1,636 | ||||||||||||||||
Shares Issued and Outstanding Capital [Member] | Restricted Share Units of 9.70 Per Share [Member] | ||||||||||||||||||||
Share Capital (Details) - Schedule of Shares Issued and Outstanding [Line Items] | ||||||||||||||||||||
Fair value of RSUs issued | 112,456 | |||||||||||||||||||
Fair value of RSUs issued | $ 1,090,832 | |||||||||||||||||||
Shares Issued and Outstanding Capital [Member] | Restricted Share Units of 8.29 Per Share [Member] | ||||||||||||||||||||
Share Capital (Details) - Schedule of Shares Issued and Outstanding [Line Items] | ||||||||||||||||||||
Fair value of RSUs issued | 67,567 | |||||||||||||||||||
Fair value of RSUs issued | $ 560,135 | |||||||||||||||||||
Shares Issued and Outstanding Capital [Member] | Restricted Share Units of 7.10 Per Share [Member] | ||||||||||||||||||||
Share Capital (Details) - Schedule of Shares Issued and Outstanding [Line Items] | ||||||||||||||||||||
Fair value of RSUs issued | 60,810 | |||||||||||||||||||
Fair value of RSUs issued | $ 431,757 | |||||||||||||||||||
Shares Issued and Outstanding Capital [Member] | Restricted Share Units of 2.57 Per Share [Member] | ||||||||||||||||||||
Share Capital (Details) - Schedule of Shares Issued and Outstanding [Line Items] | ||||||||||||||||||||
Fair value of RSUs issued | 82,000 | |||||||||||||||||||
Fair value of RSUs issued | $ 210,740 | |||||||||||||||||||
Shares Issued and Outstanding Capital [Member] | Restricted Share Units of 2.30 Per Share [Member] | ||||||||||||||||||||
Share Capital (Details) - Schedule of Shares Issued and Outstanding [Line Items] | ||||||||||||||||||||
Fair value of RSUs issued | 60,000 | |||||||||||||||||||
Fair value of RSUs issued | $ 138,000 | |||||||||||||||||||
Shares Issued and Outstanding Capital [Member] | Restricted Share Units of 1.84 Per Share [Member] | ||||||||||||||||||||
Share Capital (Details) - Schedule of Shares Issued and Outstanding [Line Items] | ||||||||||||||||||||
Fair value of RSUs issued | 421,052 | |||||||||||||||||||
Fair value of RSUs issued | $ 774,736 | |||||||||||||||||||
Shares Issued and Outstanding Capital [Member] | Restricted Share Units of 1.11 Per Share [Member] | ||||||||||||||||||||
Share Capital (Details) - Schedule of Shares Issued and Outstanding [Line Items] | ||||||||||||||||||||
Fair value of RSUs issued | 161,295 | |||||||||||||||||||
Fair value of RSUs issued | $ 179,037 | |||||||||||||||||||
Shares Issued and Outstanding Capital [Member] | Private placement | ||||||||||||||||||||
Share Capital (Details) - Schedule of Shares Issued and Outstanding [Line Items] | ||||||||||||||||||||
Issuance of shares from private placement | 16,200 | |||||||||||||||||||
Issuance of shares from private placement | $ 278,481 | |||||||||||||||||||
Shares Issued and Outstanding Capital [Member] | IPO | ||||||||||||||||||||
Share Capital (Details) - Schedule of Shares Issued and Outstanding [Line Items] | ||||||||||||||||||||
Issuance of shares from IPO | 400,000 | |||||||||||||||||||
Issuance of shares from IPO | $ 14,654,593 |
Share Capital (Details) - Sch_2
Share Capital (Details) - Schedule of Shares Issued and Outstanding (Parentheticals) - $ / shares | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
Restricted Share Units of 9.70 Per Share [Member] | ||
Share Capital (Details) - Schedule of Shares Issued and Outstanding (Parentheticals) [Line Items] | ||
Share price | $ 9.7 | |
Restricted Share Units of 8.29 Per Share [Member] | ||
Share Capital (Details) - Schedule of Shares Issued and Outstanding (Parentheticals) [Line Items] | ||
Share price | 8.29 | |
Restricted Share Units of 7.10 Per Share [Member] | ||
Share Capital (Details) - Schedule of Shares Issued and Outstanding (Parentheticals) [Line Items] | ||
Share price | 7.1 | |
Restricted Share Units of 2.57 Per Share [Member] | ||
Share Capital (Details) - Schedule of Shares Issued and Outstanding (Parentheticals) [Line Items] | ||
Share price | 2.57 | |
Restricted Share Units of 2.30 Per Share [Member] | ||
Share Capital (Details) - Schedule of Shares Issued and Outstanding (Parentheticals) [Line Items] | ||
Share price | $ 2.3 | |
Restricted Share Units of 1.84 Per Share [Member] | ||
Share Capital (Details) - Schedule of Shares Issued and Outstanding (Parentheticals) [Line Items] | ||
Share price | $ 1.84 | |
Restricted Share Units of 1.11 Per Share [Member] | ||
Share Capital (Details) - Schedule of Shares Issued and Outstanding (Parentheticals) [Line Items] | ||
Share price | $ 1.11 |
Share Capital (Details) - Sch_3
Share Capital (Details) - Schedule of Outstanding RSUs | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
Schedule Of Outstanding Rsus Abstract | ||
Beginning Balance | 397,565 | |
Granted | 1,058,306 | 780,400 |
Cancelled | (475,959) | |
Exercised | (582,347) | (382,835) |
Ending Balance | 397,565 | 397,565 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) | 6 Months Ended | 12 Months Ended | ||||||||||||
Apr. 29, 2022 | Mar. 15, 2022 | Mar. 14, 2022 | Nov. 21, 2021 | Nov. 03, 2021 | Jul. 26, 2021 | Jun. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Jun. 30, 2023 | Jan. 31, 2023 | Nov. 03, 2022 | |
Related Party Transactions (Details) [Line Items] | ||||||||||||||
Convertible debenture initial value | $ 6,559,294 | $ 174,840 | $ 2,462,763 | $ 328,000 | ||||||||||
Borrowing, Term | 18 months | |||||||||||||
Interest rate | 1% | |||||||||||||
Common shares, issued (in Shares) | 164,574 | |||||||||||||
Share price (in Dollars per share) | $ 8.49 | $ 4 | $ 25 | $ 0.01 | $ 0.53 | |||||||||
Principal amount | $ 6,559,294 | $ 6,559,000 | ||||||||||||
Accrued interest | 23,686 | |||||||||||||
Loans and borrowings balance | $ 6,582,980 | $ 1,350,813 | ||||||||||||
Balances payable to related parties | 679,617 | 9,601,708 | 811,905 | |||||||||||
Remuneration payable to key management | 679,617 | 34,611 | ||||||||||||
Lease liability | 330,821 | 2,418,706 | 2,882,152 | 245,096 | ||||||||||
Secured convertible debenture | 6,716,190 | |||||||||||||
Services received, related party transactions | $ 487,885 | 898,640 | 121,467 | $ 121,970 | ||||||||||
Balances payable to related parties | 9,601,708 | 9,225,650 | ||||||||||||
Remuneration payable to key management | $ 34,611 | 102,785 | ||||||||||||
Previously stated [member] | ||||||||||||||
Related Party Transactions (Details) [Line Items] | ||||||||||||||
Common shares, issued (in Shares) | 1,645,745 | |||||||||||||
Principal amount | $ 6,559,000 | |||||||||||||
Halo Collective, Inc | ||||||||||||||
Related Party Transactions (Details) [Line Items] | ||||||||||||||
Interest rate | 1% | |||||||||||||
Share price (in Dollars per share) | $ 4 | |||||||||||||
Loans and borrowings balance | $ 6,716,190 | 4,688,226 | ||||||||||||
Executive Chairman, L. M. Mojela | ||||||||||||||
Related Party Transactions (Details) [Line Items] | ||||||||||||||
Loans and borrowings balance | 432,201 | 1,552,487 | 811,905 | |||||||||||
Incurred expenditures | 69,521 | 45,482 | $ 26,264 | |||||||||||
J Dhaliwal [Member] | ||||||||||||||
Related Party Transactions (Details) [Line Items] | ||||||||||||||
Remuneration payable to key management | 43,626 | |||||||||||||
K Field [Member] | ||||||||||||||
Related Party Transactions (Details) [Line Items] | ||||||||||||||
Remuneration payable to key management | 34,903 | |||||||||||||
H Singh [Member] | ||||||||||||||
Related Party Transactions (Details) [Line Items] | ||||||||||||||
Remuneration payable to key management | 32,574 | |||||||||||||
D Jenkins [Member] | ||||||||||||||
Related Party Transactions (Details) [Line Items] | ||||||||||||||
Remuneration payable to key management | 32,574 | |||||||||||||
T Scott [Member] | ||||||||||||||
Related Party Transactions (Details) [Line Items] | ||||||||||||||
Remuneration payable to key management | 507,326 | 518,558 | ||||||||||||
T Virk [Member] | ||||||||||||||
Related Party Transactions (Details) [Line Items] | ||||||||||||||
Remuneration payable to key management | 15,092 | 15,426 | ||||||||||||
T Flow [Member] | ||||||||||||||
Related Party Transactions (Details) [Line Items] | ||||||||||||||
Remuneration payable to key management | 49,617 | 25,035 | ||||||||||||
Dr. Akkar-Schenkl [Member] | ||||||||||||||
Related Party Transactions (Details) [Line Items] | ||||||||||||||
Remuneration payable to key management | 17,223 | 17,604 | ||||||||||||
L Mojela [Member] | ||||||||||||||
Related Party Transactions (Details) [Line Items] | ||||||||||||||
Remuneration payable to key management | 15,092 | 15,426 | ||||||||||||
P van den Berg | ||||||||||||||
Related Party Transactions (Details) [Line Items] | ||||||||||||||
Remuneration payable to key management | 16,344 | 16,167 | ||||||||||||
C Ki | ||||||||||||||
Related Party Transactions (Details) [Line Items] | ||||||||||||||
Remuneration payable to key management | 22,335 | 2,785 | 21,840 | |||||||||||
G Jones | ||||||||||||||
Related Party Transactions (Details) [Line Items] | ||||||||||||||
Remuneration payable to key management | 10,379 | 10,075 | ||||||||||||
P Freyre [Member] | ||||||||||||||
Related Party Transactions (Details) [Line Items] | ||||||||||||||
Remuneration payable to key management | 7,619 | 10,030 | ||||||||||||
G Dingaan | ||||||||||||||
Related Party Transactions (Details) [Line Items] | ||||||||||||||
Remuneration payable to key management | 10,379 | 10,075 | ||||||||||||
B Baker | ||||||||||||||
Related Party Transactions (Details) [Line Items] | ||||||||||||||
Remuneration payable to key management | 8,211 | $ 7,992 | ||||||||||||
T Scott | ||||||||||||||
Related Party Transactions (Details) [Line Items] | ||||||||||||||
Remuneration payable to key management | 507,326 | 5,541 | ||||||||||||
T Virk | ||||||||||||||
Related Party Transactions (Details) [Line Items] | ||||||||||||||
Remuneration payable to key management | 15,092 | |||||||||||||
T Flow | ||||||||||||||
Related Party Transactions (Details) [Line Items] | ||||||||||||||
Remuneration payable to key management | 49,617 | |||||||||||||
Dr. Akkar-Schenkl | ||||||||||||||
Related Party Transactions (Details) [Line Items] | ||||||||||||||
Remuneration payable to key management | 17,223 | |||||||||||||
LM Mojela | ||||||||||||||
Related Party Transactions (Details) [Line Items] | ||||||||||||||
Remuneration payable to key management | 15,092 | 7,702 | ||||||||||||
G Seape [Member] | ||||||||||||||
Related Party Transactions (Details) [Line Items] | ||||||||||||||
Remuneration payable to key management | 16,466 | |||||||||||||
V Iyer [Member] | ||||||||||||||
Related Party Transactions (Details) [Line Items] | ||||||||||||||
Remuneration payable to key management | 2,117 | |||||||||||||
Mophuthi Trust | ||||||||||||||
Related Party Transactions (Details) [Line Items] | ||||||||||||||
Lease liability | 2,418,706 | $ 2,882,152 | ||||||||||||
Secured convertible debenture | ||||||||||||||
Related Party Transactions (Details) [Line Items] | ||||||||||||||
Interest rate | 1% | 1% | ||||||||||||
Loans and borrowings balance | $ 6,582,980 | $ 6,716,190 | ||||||||||||
Secured convertible debenture | Halo Collective, Inc | ||||||||||||||
Related Party Transactions (Details) [Line Items] | ||||||||||||||
Convertible debenture initial value | $ 6,559,294 | 6,559,294 | ||||||||||||
Borrowing, Term | 6 months | |||||||||||||
Share price (in Dollars per share) | $ 40 | |||||||||||||
Loans and borrowings balance | $ 10,423 | |||||||||||||
Rounding [Member] | ||||||||||||||
Related Party Transactions (Details) [Line Items] | ||||||||||||||
Lease liability |
Related Party Transactions (D_2
Related Party Transactions (Details) - Schedule of Transactions with Key Management Personnel - USD ($) | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Schedule of Transactions with Key Management Personnel [Abstract] | ||||||
Key management personnel | $ 299,382 | $ 1,079,324 | $ 3,572,602 | $ 1,148,206 | $ 259,035 | $ 116,481 |
Stock-based compensation | 487,885 | 898,640 | 121,467 | 121,970 | ||
Total | $ 299,382 | $ 1,567,209 | $ 4,471,242 | $ 1,217,727 | $ 425,984 | $ 264,715 |
Financial Instruments (Details)
Financial Instruments (Details) - Schedule of Financial Instruments - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Trade And Other Payables [Member] | Level 2 of fair value hierarchy [member] | ||||
Financial liabilities measure at amortised cost: | ||||
Financial liabilities | $ 8,460,194 | $ 7,139,817 | $ 680,328 | $ 183,895 |
Financial liabilities, at fair value | 8,460,194 | 7,139,817 | 680,328 | 183,895 |
Loans And Borrowings [Member] | Level 2 of fair value hierarchy [member] | ||||
Financial liabilities measure at amortised cost: | ||||
Financial liabilities | 4,941,318 | 3,568,896 | 432,201 | 6,240,713 |
Financial liabilities, at fair value | 4,941,318 | 3,568,896 | 432,201 | 6,240,713 |
Holdback Payable [Member] | Level 2 of fair value hierarchy [member] | ||||
Financial liabilities measure at amortised cost: | ||||
Financial liabilities | 400,000 | 377,465 | ||
Financial liabilities, at fair value | 400,000 | 377,465 | ||
Lease liabilities [member] | Level 2 of fair value hierarchy [member] | ||||
Financial liabilities measure at amortised cost: | ||||
Financial liabilities | 245,096 | 330,821 | 2,418,706 | 2,882,152 |
Financial liabilities, at fair value | 245,096 | 330,821 | 2,418,706 | 2,882,152 |
Due to Related Party [Member] | Level 2 of fair value hierarchy [member] | ||||
Financial liabilities measure at amortised cost: | ||||
Financial liabilities | 811,905 | 679,617 | ||
Financial liabilities, at fair value | 811,905 | 679,617 | ||
Cash [Member] | Level 1 of fair value hierarchy [member] | ||||
Financial assets measured at amortised cost: | ||||
Financial assets | 443,338 | 228,794 | 3,495,390 | 13,504 |
Financial assets, at fair value | 443,338 | 228,794 | 3,495,390 | 13,504 |
Marketable Securities [Member] | Level 1 of fair value hierarchy [member] | ||||
Financial assets measured at amortised cost: | ||||
Financial assets | 270,000 | 263,691 | ||
Financial assets, at fair value | 270,000 | 263,691 | ||
Trade receivables [member] | Level 2 of fair value hierarchy [member] | ||||
Financial assets measured at amortised cost: | ||||
Financial assets | 657,568 | 1,235,619 | 242,357 | |
Financial assets, at fair value | 657,568 | 1,235,619 | 242,357 | |
Cash Loans Receivable [Member] | Level 2 of fair value hierarchy [member] | ||||
Financial assets measured at amortised cost: | ||||
Financial assets | 506,460 | 483,588 | ||
Financial assets, at fair value | $ 506,460 | $ 483,588 |
Risks Arising from Financial _3
Risks Arising from Financial Instruments and Risk Management (Details) | 6 Months Ended | 12 Months Ended | ||||||||||||
Jun. 30, 2023 USD ($) | Jun. 30, 2023 CAD ($) | Jun. 30, 2023 EUR (€) | Dec. 31, 2022 USD ($) | Dec. 31, 2022 CAD ($) | Dec. 31, 2022 LSL (M) | Dec. 31, 2022 EUR (€) | Dec. 31, 2021 USD ($) | Dec. 31, 2021 CAD ($) | Dec. 31, 2021 LSL (M) | Dec. 31, 2021 EUR (€) | Dec. 31, 2020 USD ($) | Dec. 31, 2020 CAD ($) | Dec. 31, 2020 LSL (M) | |
Risks Arising from Financial Instruments and Risk Management (Details) [Line Items] | ||||||||||||||
Appreciation or deterioration percentage | 5% | 5% | 5% | 5% | 5% | 5% | 5% | 5% | 5% | 5% | 5% | |||
Net income | $ 18,000 | $ 297,000 | € 271,000 | $ 13,000 | $ 181,000 | € 256,000 | $ 161,000 | $ 3,000 | M 143,000 | M 156,000 | ||||
Percentage of concentration of credit risk related to accounts receivable | 73% | 73% | 73% | 85% | 85% | 85% | 85% | 94% | 94% | 94% | 94% | |||
Number of customers | 2 | 2 | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | |||
Bad debt expense (in Dollars) | $ 332,715 | |||||||||||||
Credit risk [member] | ||||||||||||||
Risks Arising from Financial Instruments and Risk Management (Details) [Line Items] | ||||||||||||||
Percentage of concentration of credit risk related to accounts receivable | 62% | 62% | 62% |
Risks Arising from Financial _4
Risks Arising from Financial Instruments and Risk Management (Details) - Schedule of Foreign Currency Denominated Financial Assets and Liabilities - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
Trade and other payables [Member] | GBP [Member] | ||
Financial assets | ||
Financial assets and liabilities | $ 929,526 | $ 923,725 |
Trade and other payables [Member] | EUR [Member] | ||
Financial assets | ||
Financial assets and liabilities | 3,602,806 | 3,201,180 |
Trade and other payables [Member] | CAD [Member] | ||
Financial assets | ||
Financial assets and liabilities | 4,547,627 | 3,629,380 |
Loans and borrowings [Member] | GBP [Member] | ||
Financial assets | ||
Financial assets and liabilities | 31,514 | 25,000 |
Loans and borrowings [Member] | EUR [Member] | ||
Financial assets | ||
Financial assets and liabilities | 3,170,873 | 3,307,633 |
Loans and borrowings [Member] | CAD [Member] | ||
Financial assets | ||
Financial assets and liabilities | 1,921,491 | |
Financial liabilities at amortised cost, class [member] | GBP [Member] | ||
Financial assets | ||
Financial assets and liabilities | 961,040 | 948,725 |
Financial liabilities at amortised cost, class [member] | EUR [Member] | ||
Financial assets | ||
Financial assets and liabilities | 6,773,679 | 6,508,813 |
Financial liabilities at amortised cost, class [member] | CAD [Member] | ||
Financial assets | ||
Financial assets and liabilities | 8,287,983 | 5,398,888 |
Due to related party [Member] | CAD [Member] | ||
Financial assets | ||
Financial assets and liabilities | 982,859 | 810,206 |
Holdback payable [Member] | CAD [Member] | ||
Financial assets | ||
Financial assets and liabilities | 511,238 | 511,238 |
Lease liabilities [Member] | CAD [Member] | ||
Financial assets | ||
Financial assets and liabilities | 324,768 | 448,064 |
Cash [Member] | GBP [Member] | ||
Financial assets | ||
Financial assets and liabilities | 8,155 | 75,315 |
Cash [Member] | EUR [Member] | ||
Financial assets | ||
Financial assets and liabilities | 360,742 | 42,664 |
Cash [Member] | CAD [Member] | ||
Financial assets | ||
Financial assets and liabilities | 53,475 | 140,423 |
Trade and other receivables [Member] | GBP [Member] | ||
Financial assets | ||
Financial assets and liabilities | 86,020 | 149,223 |
Trade and other receivables [Member] | EUR [Member] | ||
Financial assets | ||
Financial assets and liabilities | 504,075 | 986,320 |
Loan receivable [Member] | GBP [Member] | ||
Financial assets | ||
Financial assets and liabilities | 400,000 | 400,000 |
Financial assets at amortised cost, class [member] | GBP [Member] | ||
Financial assets | ||
Financial assets and liabilities | 494,175 | 624,538 |
Financial assets at amortised cost, class [member] | EUR [Member] | ||
Financial assets | ||
Financial assets and liabilities | 864,817 | 1,028,984 |
Financial assets at amortised cost, class [member] | CAD [Member] | ||
Financial assets | ||
Financial assets and liabilities | 411,243 | 497,566 |
Marketable securities [Member] | CAD [Member] | ||
Financial assets | ||
Financial assets and liabilities | $ 357,768 | $ 357,143 |
Segmented Information (Details)
Segmented Information (Details) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2022 Segment | Dec. 31, 2021 | |
Segmented Information [Abstract] | |||
Number of reportable segments | 3 | 3 | |
Reportable segments | 3 |
Segmented Information (Detail_2
Segmented Information (Details) - Schedule of Information about the Assets, Liabilities and Profit or Loss From Each Segment - USD ($) | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Cultivation Segment [Member] | ||||||
Segmented Information (Details) - Schedule of Information about the Assets, Liabilities and Profit or Loss From Each Segment [Line Items] | ||||||
Reportable segment assets | $ 35,060,640 | $ 37,392,401 | ||||
Reportable segment liabilities | 7,375,430 | 6,961,243 | $ 3,020,730 | $ 9,305,736 | ||
Revenues from external customers | 1,268,702 | $ 57,516 | 2,517,904 | |||
Intersegment revenues | ||||||
Other income (expense) | 12,760,356 | |||||
Other income | 107,110 | |||||
Finance income | 26,659 | 10,187 | 399 | |||
Finance expense | (175,616) | (23,177) | ||||
Depreciation & amortization | 2,045,307 | 1,511,138 | 308,544 | 248,743 | 198,824 | |
Discontinued operations | (3,747,034) | (5,331,600) | (2,298,310) | (1,394,611) | ||
Reportable segment income (loss) | (3,223,676) | (5,744,346) | ||||
Distribution Segment [Member] | ||||||
Segmented Information (Details) - Schedule of Information about the Assets, Liabilities and Profit or Loss From Each Segment [Line Items] | ||||||
Reportable segment assets | 706,704 | 819,376 | ||||
Reportable segment liabilities | 1,214,129 | 1,146,980 | 323,129 | 1,024 | ||
Revenues from external customers | 128,741 | 15,580 | 101,778 | 41,431 | 2,062 | |
Intersegment revenues | ||||||
Other income (expense) | (6,600) | |||||
Other income | 8,974 | 55 | ||||
Finance income | 20 | 747 | 90 | 1 | 2 | |
Finance expense | (8,033) | (52) | ||||
Depreciation & amortization | 1,898 | 478 | ||||
Discontinued operations | (1,775,923) | (2,261) | (30) | |||
Reportable segment income (loss) | (337,238) | (6,867,849) | ||||
Corporate Segment [Member] | ||||||
Segmented Information (Details) - Schedule of Information about the Assets, Liabilities and Profit or Loss From Each Segment [Line Items] | ||||||
Reportable segment assets | 740,212 | 785,000 | ||||
Reportable segment liabilities | 6,268,954 | 3,988,393 | 6,899,644 | |||
Revenues from external customers | ||||||
Intersegment revenues | ||||||
Other income (expense) | (646,494) | |||||
Other income | 51,659 | |||||
Finance income | ||||||
Finance expense | (40,809) | (13,377) | ||||
Depreciation & amortization | 102,840 | |||||
Discontinued operations | (1,019,823) | |||||
Reportable segment income (loss) | (2,316,968) | (1,470,241) | ||||
Reportable segments [member] | ||||||
Segmented Information (Details) - Schedule of Information about the Assets, Liabilities and Profit or Loss From Each Segment [Line Items] | ||||||
Reportable segment assets | 36,507,556 | 38,996,777 | ||||
Reportable segment liabilities | 14,858,513 | 12,096,616 | 10,243,144 | 9,306,760 | ||
Revenues from external customers | 1,397,443 | 73,096 | $ 2,619,682 | 41,431 | 2,062 | |
Intersegment revenues | ||||||
Other income (expense) | 12,107,262 | |||||
Other income | 167,743 | 55 | ||||
Finance income | 20 | 747 | 26,749 | 10,188 | 401 | |
Finance expense | (224,458) | (36,606) | ||||
Depreciation & amortization | 2,150,045 | 1,511,138 | 309,022 | 248,743 | 198,824 | |
Discontinued operations | (3,747,034) | $ (8,127,347) | $ (2,300,571) | $ (1,394,641) | ||
Reportable segment income (loss) | $ (5,877,882) | $ (2,593,744) |
Segmented Information (Detail_3
Segmented Information (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities - USD ($) | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Cultivation Segment [Member] | ||||||
Segmented Information (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Total revenues | $ 1,268,702 | $ 57,516 | $ 2,517,904 | |||
Net loss | (3,223,676) | (5,744,346) | ||||
Total assets | 35,060,640 | 37,392,401 | ||||
Total liabilities | 7,375,430 | 6,961,243 | 3,020,730 | 9,305,736 | ||
Cultivation Segment [Member] | Operating segments [member] | ||||||
Segmented Information (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Total revenues | 1,268,702 | 57,516 | 2,517,904 | |||
Net loss | (3,223,676) | 9,491,380 | (5,331,600) | (2,298,310) | (1,394,611) | |
Total assets | 35,060,640 | 37,392,401 | ||||
Total liabilities | 17,477,967 | 16,032,790 | 10,602,945 | 9,305,736 | ||
Cultivation Segment [Member] | Elimination of intersegment amounts [member] | ||||||
Segmented Information (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Total revenues | ||||||
Net loss | ||||||
Total assets | ||||||
Total liabilities | (10,102,537) | (9,071,547) | (7,582,575) | |||
Cultivation Segment [Member] | Unallocated amounts [member] | ||||||
Segmented Information (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Net loss | (3,422,225) | (5,657,494) | ||||
Cultivation Segment [Member] | Loss Before Income Tax Expense [Member] | ||||||
Segmented Information (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Net loss | (3,223,676) | 9,491,380 | ||||
Distribution Segment [Member] | ||||||
Segmented Information (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Total revenues | 128,741 | 15,580 | 101,778 | 41,431 | 2,062 | |
Net loss | (337,238) | (6,867,849) | ||||
Total assets | 706,704 | 819,376 | ||||
Total liabilities | 1,214,129 | 1,146,980 | 323,129 | 1,024 | ||
Distribution Segment [Member] | Operating segments [member] | ||||||
Segmented Information (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Total revenues | 128,741 | 15,580 | 101,778 | 41,431 | 2,062 | |
Net loss | (337,238) | (6,867,849) | (1,775,923) | (2,261) | (30) | |
Total assets | 19,837,704 | 19,950,376 | ||||
Total liabilities | 30,917,933 | 29,335,641 | 5,437,189 | 1,024 | ||
Distribution Segment [Member] | Elimination of intersegment amounts [member] | ||||||
Segmented Information (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Total revenues | ||||||
Net loss | ||||||
Total assets | (19,131,000) | (19,131,000) | ||||
Total liabilities | (29,703,804) | (28,188,661) | (5,114,060) | |||
Distribution Segment [Member] | Unallocated amounts [member] | ||||||
Segmented Information (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Net loss | ||||||
Distribution Segment [Member] | Loss Before Income Tax Expense [Member] | ||||||
Segmented Information (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Net loss | (337,238) | (6,867,849) | ||||
Corporate Segment [Member] | ||||||
Segmented Information (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Total revenues | ||||||
Net loss | (2,316,968) | (1,470,241) | ||||
Total assets | 740,212 | 785,000 | ||||
Total liabilities | 6,268,954 | 3,988,393 | 6,899,644 | |||
Corporate Segment [Member] | Operating segments [member] | ||||||
Segmented Information (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Total revenues | ||||||
Net loss | (2,316,968) | (1,470,241) | (1,019,823) | |||
Total assets | 13,869,424 | 13,914,212 | ||||
Total liabilities | (24,557,990) | (26,121,029) | 6,899,644 | |||
Corporate Segment [Member] | Elimination of intersegment amounts [member] | ||||||
Segmented Information (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Total revenues | ||||||
Net loss | ||||||
Total assets | (13,129,212) | (13,129,212) | ||||
Total liabilities | 30,826,944 | 30,109,422 | ||||
Corporate Segment [Member] | Unallocated amounts [member] | ||||||
Segmented Information (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Net loss | ||||||
Corporate Segment [Member] | Loss Before Income Tax Expense [Member] | ||||||
Segmented Information (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Net loss | (2,316,968) | (1,470,241) | ||||
Reportable segments [member] | ||||||
Segmented Information (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Total revenues | 1,397,443 | 73,096 | 2,619,682 | 41,431 | 2,062 | |
Net loss | (5,877,882) | (2,593,744) | ||||
Total assets | 36,507,556 | 38,996,777 | ||||
Total liabilities | 14,858,513 | 12,096,616 | 10,243,144 | 9,306,760 | ||
Reportable segments [member] | Operating segments [member] | ||||||
Segmented Information (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Total revenues | 1,397,443 | 73,096 | 2,619,682 | 41,431 | 2,062 | |
Net loss | (5,877,882) | 1,153,290 | (8,127,347) | (2,300,571) | (1,394,641) | |
Total assets | 68,767,768 | 71,256,989 | ||||
Total liabilities | 23,837,910 | 19,247,402 | 22,939,779 | 9,306,760 | ||
Reportable segments [member] | Elimination of intersegment amounts [member] | ||||||
Segmented Information (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Total revenues | ||||||
Net loss | ||||||
Total assets | (32,260,212) | (32,260,212) | ||||
Total liabilities | (8,979,397) | (7,150,786) | (12,696,635) | |||
Reportable segments [member] | Unallocated amounts [member] | ||||||
Segmented Information (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Net loss | $ (3,422,225) | $ (5,657,494) | ||||
Reportable segments [member] | Loss Before Income Tax Expense [Member] | ||||||
Segmented Information (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Net loss | $ (5,877,882) | $ 1,153,290 |
Contingencies (Details)
Contingencies (Details) | 6 Months Ended | |||||
May 15, 2023 EUR (€) | May 12, 2023 EUR (€) | Apr. 29, 2023 EUR (€) | Oct. 20, 2022 EUR (€) | Jun. 30, 2023 EUR (€) | Oct. 20, 2022 USD ($) | |
Contingencies [Abstract] | ||||||
Administrative and legal fees | € 1,832,150.62 | |||||
Loans and advances to customers (in Dollars) | $ | $ 6,849,935.69 | |||||
Employment agreement | € 151,774 | € 420,659.95 | € 151,774 | |||
Alleged protected amount | € 1,630,302.22 |
Subsequent Events (Details)
Subsequent Events (Details) | 1 Months Ended | 6 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Feb. 02, 2024 $ / shares | Jul. 31, 2023 USD ($) | Jun. 06, 2023 shares | May 15, 2023 EUR (€) | May 02, 2023 shares | Apr. 29, 2023 EUR (€) | Mar. 02, 2023 USD ($) | Jan. 26, 2023 USD ($) shares | Nov. 22, 2022 USD ($) | Oct. 28, 2022 USD ($) shares | Sep. 08, 2022 USD ($) shares | Aug. 25, 2022 USD ($) shares | Aug. 11, 2022 USD ($) shares | Aug. 04, 2022 USD ($) shares | Apr. 20, 2022 USD ($) shares | Apr. 20, 2022 CAD ($) $ / shares shares | Mar. 22, 2022 $ / shares shares | Mar. 17, 2022 USD ($) shares | Mar. 14, 2022 USD ($) $ / shares shares | Feb. 20, 2022 | Feb. 10, 2022 USD ($) shares | Jan. 14, 2022 USD ($) shares | Nov. 12, 2021 USD ($) $ / shares shares | Nov. 11, 2021 USD ($) $ / shares shares | Nov. 10, 2021 USD ($) $ / shares shares | Jul. 26, 2021 $ / shares | Sep. 22, 2023 shares | Jul. 31, 2023 USD ($) | Jun. 30, 2023 USD ($) shares | Jun. 30, 2023 EUR (€) shares | Jun. 30, 2022 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | Dec. 31, 2019 USD ($) | Feb. 13, 2024 | Jan. 10, 2024 USD ($) | Jan. 10, 2024 CAD ($) | Dec. 31, 2023 USD ($) | Dec. 21, 2023 USD ($) | Dec. 21, 2023 CAD ($) | Dec. 19, 2023 USD ($) | Dec. 19, 2023 CAD ($) | Oct. 13, 2023 USD ($) | Oct. 13, 2023 CAD ($) | Oct. 11, 2023 | Sep. 27, 2023 USD ($) | Sep. 27, 2023 CAD ($) | Sep. 14, 2023 USD ($) | Sep. 14, 2023 CAD ($) | Aug. 18, 2023 USD ($) | Aug. 18, 2023 CAD ($) | Aug. 14, 2023 | Aug. 08, 2023 USD ($) | Aug. 08, 2023 CAD ($) | Jul. 26, 2023 | Jun. 30, 2023 EUR (€) shares | Jan. 31, 2023 USD ($) $ / shares | Sep. 22, 2022 shares | Apr. 29, 2022 | Apr. 20, 2022 CAD ($) | Apr. 20, 2022 EUR (€) | |
Subsequent Events (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-refundable payment | $ 1,800,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payment fees | 2,205,504 | $ 2,366,997 | $ 7,759,824 | $ 1,212,422 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sale of cultivated property | 500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash Paid On Hemp Cultivation | 750,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash paid on CBD approval | $ 750,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share issued (in Shares) | shares | 879,895 | 161,295 | 161,295 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of appointment of directors | 3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of directors | 7 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subscribers receive common shares (in Shares) | shares | 8,000 | 154,000 | 2,126,400 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross proceeds | $ 138,000 | $ 210,740 | $ 431,757 | $ 560,135 | $ 200,014 | $ 890,818 | $ 20,000 | $ 385,000 | $ 5,312,136 | $ 1,477 | $ 156 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of conversion of debenture (in Shares) | shares | 1,645,745 | 880,000 | 880,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share price (in Dollars per share) | $ / shares | $ 31 | $ 4 | $ 2.5 | $ 2.5 | $ 2.5 | $ 0.53 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | $ 6,559,294 | $ 2,462,763 | 174,840 | $ 328,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 23,686 | 9,068 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount of debenture at time of conversion | $ 6,582,980 | $ 2,200,000 | $ 2,200,000 | $ 2,200,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares (in Shares) | shares | 869,963 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of ordinary shares issued (in Shares) | shares | 20,610 | 637,254 | 421,052 | 82,000 | 60,810 | 20,620 | 91,836 | 4,000,000 | 475,959 | 475,959 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross value of shares issued | $ 16,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Underwriter commissions | $ 14,682,089 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued in exercise of warrants, number (in Shares) | shares | 234,839 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants, number of shares issuable (in Shares) | shares | 280,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant exercise price per share (in Dollars per share) | $ / shares | $ (5) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants, difference between market price and exercise price, per share (in Dollars per share) | $ / shares | $ (26) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of interest acquired | 100% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash transferred | $ 2,600,000 | $ 3,750,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued in acquisition | 560,100 | 475,959 | 1,900,000 | 560,000 | 879,895 | 582,193 | 140,746 | 1,900,000 | 190,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Price per share (in Dollars per share) | $ / shares | $ 0.07 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bears interest rate | 1% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Agreed shares issued (in Shares) | shares | 879,895 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value amount | $ 528,315 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding balance | $ 360,960 | $ 5,054,058 | 1,477 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Price per share (in Dollars per share) | $ / shares | $ 0.406 | $ 0.62 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercisable price per share (in Dollars per share) | $ / shares | $ 0.0001 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Employment agreement (in Euro) | € | € 151,774 | € 420,659.95 | € 151,774 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Termination payment | 85,760 | 67,392 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dismissal protected disclosures (in Euro) | € | 1,630,302.22 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate purchase price amount | 2,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Current liabilities | 12,375,919 | $ 9,347,750 | $ 8,268,428 | $ 2,731,476 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deposits from escrow account | 500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Boustead Securities Limited [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Events (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants, number of shares issuable (in Shares) | shares | 280,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
THC cultivation [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Events (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payment amount | 500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
THC product cultivated [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Events (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payment amount | 500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Hemp cultivation [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Events (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payment amount | 750,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CBD cultivation [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Events (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payment amount | 750,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share issuances [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Events (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued in acquisition | 280,851 | 637,254 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value amount | $ 707,352 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Price per share (in Dollars per share) | $ / shares | $ 0.4059 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Legal Settlement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Events (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Employment agreement (in Euro) | € | € 420,659.95 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RPK [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Events (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Current liabilities | $ 2,700,000 | € 4,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restricted Stock Units [Member[ | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Events (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share issued (in Shares) | shares | 475,959 | 475,959 | 30,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restricted Stock Units [Member[ | Major business combination [member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Events (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of ordinary shares issued (in Shares) | shares | 582,193 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of RSUs granted | $ 360,960 | $ 1,178,947 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of ordinary shares issued (in Shares) | shares | 4,210,525 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
THC cultivation [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Events (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payment fees | $ 500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Holigen Limited | Major business combination [member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Events (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of interest acquired | 100% | 100% | 100% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash transferred | $ 3,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued in acquisition | 1,900,000 | 1,900,000 | 1,900,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt assumed | $ 4,300,000 | € 4,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Holigen Limited | Major business combination [member] | Flowr Corporation [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Events (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares acquired (in Shares) | shares | 14,285,714 | 14,285,714 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payments to acquire investments | $ 790,000 | $ 1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants [member] | Share issuances [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Events (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued in acquisition | 1,462,991 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-adjusting events after reporting period [member] | Essos Corporate Services Inc [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Events (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Received loan | $ (18,617) | $ 25,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bears interest rate | 18% | 18% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-adjusting events after reporting period [member] | 1248787 B C Ltd [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Events (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Received loan | $ (29,258) | $ 40,000 | $ (2,219) | $ 3,000 | $ (17,714) | $ 24,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bears interest rate | 18% | 18% | 18% | 18% | 18% | 18% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-adjusting events after reporting period [member] | Mercantile Holdings Ltd [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Events (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Received loan | $ (29,891) | $ 40,000 | $ (29,258) | $ 40,000 | $ (29,575) | $ 40,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bears interest rate | 7% | 7% | 18% | 18% | 18% | 18% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-adjusting events after reporting period [member] | 1434646 B.C. Ltd [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Events (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Received loan | $ (17,000) | $ 22,440 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bears interest rate | 7% | 7% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-adjusting events after reporting period [member] | 1226053 B.C. Ltd [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Events (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Received loan | $ (29,891) | $ 40,000 | $ (15,754) | $ 21,000 | $ (17,000) | $ 22,440 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bears interest rate | 7% | 7% | 7% | 7% | 7% | 7% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-adjusting events after reporting period [member] | Nate Rajakumar Third Party [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Events (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Received loan | $ (15,754) | $ 21,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bears interest rate | 7% | 7% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Shares [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Events (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share issued (in Shares) | shares | 140,746 | 140,746 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of ordinary shares issued (in Shares) | shares | 675,676 | 918,369 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant reserve [member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Events (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share price (in Dollars per share) | $ / shares | $ (31) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued in exercise of warrants, number (in Shares) | shares | 234,839 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants, number of shares issuable (in Shares) | shares | 280,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant exercise price per share (in Dollars per share) | $ / shares | $ 5 |
Significant Accounting Polici_3
Significant Accounting Policies (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2022 | |
Significant Accounting Policies (Details) [Line Items] | ||
Cash equivalents | ||
Validity of intangible assets | 10 years | |
Bophelo [Member] | ||
Significant Accounting Policies (Details) [Line Items] | ||
Validity of intangible assets | 10 years |
Significant Accounting Polici_4
Significant Accounting Policies (Details) - Schedule of Subsidiaries of the Company | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Cannahealth Ltd. ("Cannahealth") | ||
Significant Accounting Policies (Details) - Schedule of Subsidiaries of the Company [Line Items] | ||
Country of Incorporation | Malta | Malta |
Holding | 100% | 100% |
Functional Currency | EUR | EUR |
Bophelo Holdings Ltd. ("Bophelo H") | ||
Significant Accounting Policies (Details) - Schedule of Subsidiaries of the Company [Line Items] | ||
Country of Incorporation | United Kingdom | United Kingdom |
Holding | 100% | 100% |
Functional Currency | GBP | GBP |
Bophelo Bio Science and Wellness (Pty) Ltd. ("Bophelo") | ||
Significant Accounting Policies (Details) - Schedule of Subsidiaries of the Company [Line Items] | ||
Country of Incorporation | Lesotho | Lesotho |
Holding | 100% | 100% |
Functional Currency | LSL | LSL |
Canmart Ltd. ("Canmart") | ||
Significant Accounting Policies (Details) - Schedule of Subsidiaries of the Company [Line Items] | ||
Country of Incorporation | United Kingdom | United Kingdom |
Holding | 100% | 100% |
Functional Currency | GBP | GBP |
ifrs_Holigen Limited [Member] | ||
Significant Accounting Policies (Details) - Schedule of Subsidiaries of the Company [Line Items] | ||
Country of Incorporation | Portugal | |
Holding | 100% | |
Functional Currency | EUR | |
RPK Biopharma Unipessoal Lda.[Member] | ||
Significant Accounting Policies (Details) - Schedule of Subsidiaries of the Company [Line Items] | ||
Country of Incorporation | Portugal | |
Holding | 100% | |
Functional Currency | EUR | |
BC Ltd. [Member] | ||
Significant Accounting Policies (Details) - Schedule of Subsidiaries of the Company [Line Items] | ||
Country of Incorporation | Canada | |
Holding | 100% | |
Functional Currency | CAD |
Significant Accounting Polici_5
Significant Accounting Policies (Details) - Schedule of Estimated Useful Lives for the Current and Comparative Periods | 12 Months Ended |
Dec. 31, 2022 | |
Plant and equipment [member] | |
Significant Accounting Policies (Details) - Schedule of Estimated Useful Lives for the Current and Comparative Periods [Line Items] | |
Estimated useful lives | 10 years |
Leasehold improvements [member] | |
Significant Accounting Policies (Details) - Schedule of Estimated Useful Lives for the Current and Comparative Periods [Line Items] | |
Estimated useful lives | 20 years |
Motor vehicles [member] | |
Significant Accounting Policies (Details) - Schedule of Estimated Useful Lives for the Current and Comparative Periods [Line Items] | |
Estimated useful lives | 4 years |
Computers [member] | |
Significant Accounting Policies (Details) - Schedule of Estimated Useful Lives for the Current and Comparative Periods [Line Items] | |
Estimated useful lives | 3 years |
Furniture and fixtures [member] | |
Significant Accounting Policies (Details) - Schedule of Estimated Useful Lives for the Current and Comparative Periods [Line Items] | |
Estimated useful lives | 6 years |
Business Combination (Details_4
Business Combination (Details) - Schedule of the Acquisition-Date Fair Value of Each Major Class of Purchase $ in Thousands | Dec. 31, 2023 USD ($) | Apr. 20, 2022 CAD ($) |
Schedule Of The Acquisition Date Fair Value Of Each Major Class Of Purchase Abstract | ||
Cash | $ 2,600,000 | $ 3,750 |
Holdback payable | 400,000 | |
Fair value of 1,900,000 common shares of the Company | 16,131,000 | |
Total consideration | $ 19,131,000 |
Business Combination (Details_5
Business Combination (Details) - Schedule of the Acquisition-Date Fair Value of Each Major Class of Purchase (Parentheticals) | Dec. 31, 2023 | Dec. 31, 2022 | Apr. 29, 2022 |
Holigen Holdings Limited and RPK Biopharma Unipessoal, LDA [Member] | |||
Business Combination (Details) - Schedule of the Acquisition-Date Fair Value of Each Major Class of Purchase (Parentheticals) [Line Items] | |||
Fair value of 1,900,000 common shares of the Company | 1,900,000 | 1,900,000 | 190,000 |
Business Combination (Details_6
Business Combination (Details) - Schedule of the Fair Value of the Identifiable Assets and Liabilities - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
Schedule Of The Fair Value Of The Identifiable Assets And Liabilities Abstract | ||
Cash | $ 233,407 | $ 233,407 |
Accounts receivable | 605,579 | 605,579 |
Biological assets | 200,457 | 200,457 |
Inventory | 904,006 | 904,006 |
Prepayments | 179,597 | 179,597 |
Intangible assets | 24,665,772 | 24,665,772 |
Property, plant and equipment, net | 12,936,374 | 12,936,374 |
Trade and other payables | (3,775,599) | (3,775,599) |
Loans and borrowing | (4,058,030) | (4,058,030) |
Net assets acquired | $ 31,891,563 | $ 31,891,563 |
Loss of Control of Bophelo Bi_6
Loss of Control of Bophelo Bio Science and Wellness (Pty) Ltd. (Details) - Schedule of Financial Performance and Cash Flow Information - Bophelo Bio Science & Wellness (Pty) Ltd. Disposal Group Discontinued Operations [Member] - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2008 | |
Loss of Control of Bophelo Bio Science and Wellness (Pty) Ltd. (Details) - Schedule of Financial Performance and Cash Flow Information [Line Items] | |||
Revenue | $ 31,123 | ||
Operating expenses | (1,244,691) | $ (3,550,441) | |
Other expenses | (123,033) | (2,107,053) | |
Total revanue | (1,336,601) | (5,657,494) | |
Loss on discontinued operations | (3,422,225) | (5,657,494) | |
Exchange differences on translation of discontinued operations | (450,040) | 636,135 | |
Other comprehensive income from discontinued operations | (450,040) | 636,135 | |
Cash flows provided by operating activities | 1,060,350 | 7,414,607 | |
Cash flows used in investing activities | (1,003,529) | (570,864) | |
Cash flows provided by (used in) financing activities | (95,696) | 6,832,634 | |
Effects of exchange rate changes on cash and cash equivalents | 18,909 | (1,263) | |
Net change in cash provided by (used in) the subsidiary | (19,966) | 9,846 | |
Carrying amount of net assets immediately prior to loss of control of subsidiary | 2,375,840 | $ 2,375,840 | |
Reclassification of foreign currency translation reserve | (290,216) | ||
Loss on loss of control of subsidiary | 2,085,624 | ||
Previously stated [member] | |||
Loss of Control of Bophelo Bio Science and Wellness (Pty) Ltd. (Details) - Schedule of Financial Performance and Cash Flow Information [Line Items] | |||
Loss on loss of control of subsidiary | $ (2,085,624) |
Loss of Control of Bophelo Bi_7
Loss of Control of Bophelo Bio Science and Wellness (Pty) Ltd. (Details) - Schedule of Carrying Amounts of Assets and Liabilities - Bophelo Bio Science & Wellness (Pty) Ltd. Disposal Group Discontinued Operations [Member] - USD ($) | Dec. 31, 2022 | Dec. 31, 2008 |
Loss of Control of Bophelo Bio Science and Wellness (Pty) Ltd. (Details) - Schedule of Carrying Amounts of Assets and Liabilities [Line Items] | ||
Cash | $ 739,947 | $ 739,947 |
Accounts receivable | 21,854 | 21,854 |
Prepayments | 578,070 | 578,070 |
Property, plant and equipment | 1,887,435 | 1,887,435 |
Right-of-use assets | 1,745,205 | 1,745,205 |
Intangible assets | 210,402 | 210,402 |
Total assets | 5,182,913 | 5,182,913 |
Trade and other payables | 115,120 | 115,120 |
Lease liability | 2,375,590 | 2,375,590 |
Long-term debt | 316,363 | 316,363 |
Total liabilities | 2,807,073 | 2,807,073 |
Net assets | $ 2,375,840 | $ 2,375,840 |
Trade and Other Receivables (_3
Trade and Other Receivables (Details) - Schedule of Trade and Other Receivables - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Schedule Of Trade And Other Receivables Abstract | ||||
Trade accounts receivable | $ 294,021 | $ 720,085 | $ 29,457 | |
Sales taxes receivable | 19,020 | 91,416 | 212,900 | |
Other receivables | $ 344,527 | 424,118 | ||
Trade and other current receivables total | $ 1,235,619 | $ 242,357 |
Inventory (Details) - Schedul_2
Inventory (Details) - Schedule of Reconciliation of the Company’s Biological Assets - At fair value [member] - USD ($) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Inventory (Details) - Schedule of Reconciliation of the Company’s Biological Assets [Line Items] | |||
Balance, beginning of the period | $ 809,180 | ||
Requisition of raw materials from inventory | 202,900 | ||
Capitalized costs | 490,672 | ||
Acquisition (note 4) | 200,457 | ||
Gain (loss) on change in fair value of biological assets | (562,045) | 580,411 | (693,572) |
Movement in exchange rate | 10,009 | 28,312 | |
Balance, end of the period | $ 257,144 | $ 809,180 |
Marketable Securities (Detail_3
Marketable Securities (Details) - Schedule of Investment - Flowr Corporation [Member] - USD ($) | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2008 | Dec. 31, 2021 | |
Marketable Securities (Details) - Schedule of Investment [Line Items] | ||||
Purchase of investment | $ 801,160 | $ 801,160 | ||
Change in fair value | $ 464 | (516,281) | (516,281) | |
Movement in exchange rate | $ 5,845 | $ (21,188) | (21,188) | |
Balance, December 31, 2022(*) | $ 263,691 |
Property, Plant and Equipment_4
Property, Plant and Equipment (Details) - Schedule of Property, Plant and Equipment - USD ($) | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Property, Plant and Equipment (Details) - Schedule of Property, Plant and Equipment [Line Items] | ||||
Balance at beginning of period, Cost | $ 13,284,387 | $ 2,206,400 | $ 1,799,940 | $ 1,408,618 |
Acquisitions (note 4) | 12,936,374 | |||
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | (2,264,147) | |||
Balance at beginning of period, Accumulated depreciation | 1,124,883 | 308,652 | 173,908 | 94,405 |
Additions | 1,935 | 310,946 | 576,472 | 439,137 |
Reclassifications | ||||
Foreign exchange movements | 280,691 | 94,814 | (170,012) | (24,067) |
Balance at end of period, Cost | 13,567,013 | 13,284,387 | 2,206,400 | 1,799,940 |
Depreciation | 1,037,187 | 155,073 | ||
Depreciation – Bophelo | 109,959 | |||
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | (376,712) | |||
Net book value | 11,556,836 | 12,159,504 | 1,897,748 | 1,626,032 |
Foreign exchange movements | 75,034 | 45,797 | (20,329) | (5,084) |
Balance at end of period, Accumulated depreciation | 2,010,177 | 1,124,883 | 308,652 | 173,908 |
Land [member] | ||||
Property, Plant and Equipment (Details) - Schedule of Property, Plant and Equipment [Line Items] | ||||
Balance at beginning of period, Cost | 885,237 | |||
Acquisitions (note 4) | 872,336 | |||
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | ||||
Balance at beginning of period, Accumulated depreciation | ||||
Additions | ||||
Reclassifications | ||||
Foreign exchange movements | 15,382 | 12,901 | ||
Balance at end of period, Cost | 900,619 | 885,237 | ||
Depreciation | ||||
Depreciation – Bophelo | ||||
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | ||||
Net book value | 900,619 | 885,237 | ||
Foreign exchange movements | ||||
Balance at end of period, Accumulated depreciation | ||||
Plant and equipment | ||||
Property, Plant and Equipment (Details) - Schedule of Property, Plant and Equipment [Line Items] | ||||
Balance at beginning of period, Cost | 12,135,221 | 590,011 | 586,360 | 449,044 |
Acquisitions (note 4) | 11,817,462 | |||
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | (663,404) | |||
Balance at beginning of period, Accumulated depreciation | 1,053,249 | 174,854 | 123,710 | 67,113 |
Additions | 108,933 | 53,808 | 172,369 | |
Reclassifications | ||||
Foreign exchange movements | 255,388 | 282,219 | (50,157) | (11,305) |
Balance at end of period, Cost | 12,390,609 | 12,135,221 | 590,011 | 586,360 |
Depreciation | 972,872 | 63,785 | ||
Depreciation – Bophelo | 32,549 | |||
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | (195,441) | |||
Net book value | 10,497,745 | 11,081,972 | 415,157 | 462,650 |
Foreign exchange movements | 68,383 | 68,415 | (12,641) | (3,615) |
Balance at end of period, Accumulated depreciation | 1,892,864 | 1,053,249 | 174,854 | 123,710 |
Leasehold improvements [member] | ||||
Property, Plant and Equipment (Details) - Schedule of Property, Plant and Equipment [Line Items] | ||||
Balance at beginning of period, Cost | 1,089,694 | 293,437 | 304,770 | |
Acquisitions (note 4) | ||||
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | (1,088,572) | |||
Balance at beginning of period, Accumulated depreciation | 108,623 | 36,324 | 22,489 | |
Additions | 1,490 | 66,110 | 493,136 | |
Reclassifications | 360,695 | |||
Foreign exchange movements | 40 | (67,232) | (57,574) | (11,333) |
Balance at end of period, Cost | 1,530 | 1,089,694 | 293,437 | |
Depreciation | 78,352 | |||
Depreciation – Bophelo | 49,538 | |||
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | (149,161) | |||
Net book value | 1,377 | 981,071 | 257,113 | |
Foreign exchange movements | 4 | (9,000) | (6,053) | (1,115) |
Balance at end of period, Accumulated depreciation | 153 | 108,623 | 36,324 | |
Motor vehicles [member] | ||||
Property, Plant and Equipment (Details) - Schedule of Property, Plant and Equipment [Line Items] | ||||
Balance at beginning of period, Cost | 92,255 | 47,623 | 36,998 | 38,427 |
Acquisitions (note 4) | 89,513 | |||
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | (54,767) | |||
Balance at beginning of period, Accumulated depreciation | 30,519 | 23,505 | 13,874 | 4,803 |
Additions | 10,489 | 14,214 | ||
Reclassifications | ||||
Foreign exchange movements | 3,270 | (603) | (3,589) | (1,429) |
Balance at end of period, Cost | 95,525 | 92,255 | 47,623 | 36,998 |
Depreciation | 27,883 | 11,208 | ||
Depreciation – Bophelo | 6,577 | |||
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | (28,357) | |||
Net book value | 43,073 | 61,736 | 24,118 | 23,124 |
Foreign exchange movements | 2,339 | 911 | (1,577) | (354) |
Balance at end of period, Accumulated depreciation | 52,452 | 30,519 | 23,505 | 13,874 |
Computer equipment [member] | ||||
Property, Plant and Equipment (Details) - Schedule of Property, Plant and Equipment [Line Items] | ||||
Balance at beginning of period, Cost | 42,439 | 10,124 | ||
Acquisitions (note 4) | 32,703 | |||
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | (14,851) | |||
Balance at beginning of period, Accumulated depreciation | 26,344 | 1,206 | ||
Additions | 408 | 13,348 | 10,427 | |
Reclassifications | ||||
Foreign exchange movements | 3,443 | 1,115 | (303) | |
Balance at end of period, Cost | 46,290 | 42,439 | 10,124 | |
Depreciation | 22,942 | 1,245 | ||
Depreciation – Bophelo | 20,832 | |||
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | (2,877) | |||
Net book value | 8,220 | 16,095 | 8,918 | |
Foreign exchange movements | 3,097 | (15,759) | (39) | |
Balance at end of period, Accumulated depreciation | 38,070 | 26,344 | 1,206 | |
Fixtures and fittings [member] | ||||
Property, Plant and Equipment (Details) - Schedule of Property, Plant and Equipment [Line Items] | ||||
Balance at beginning of period, Cost | 129,235 | 4,695 | ||
Acquisitions (note 4) | 124,360 | |||
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | (5,436) | |||
Balance at beginning of period, Accumulated depreciation | 14,771 | 464 | ||
Additions | 37 | 3,435 | 4,887 | |
Reclassifications | ||||
Foreign exchange movements | 3,168 | 2,181 | (192) | |
Balance at end of period, Cost | 132,440 | 129,235 | 4,695 | |
Depreciation | 13,490 | 483 | ||
Depreciation – Bophelo | 463 | |||
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | (876) | |||
Net book value | 105,802 | 114,464 | 4,231 | |
Foreign exchange movements | 1,211 | 1,230 | (19) | |
Balance at end of period, Accumulated depreciation | 26,638 | 14,771 | 464 | |
Capital work-in- progress [Member] | ||||
Property, Plant and Equipment (Details) - Schedule of Property, Plant and Equipment [Line Items] | ||||
Balance at beginning of period, Cost | 464,253 | 883,145 | 616,377 | |
Acquisitions (note 4) | ||||
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | (437,117) | |||
Additions | 108,631 | 266,768 | ||
Reclassifications | (360,695) | |||
Foreign exchange movements | (135,767) | (58,197) | ||
Balance at end of period, Cost | 464,253 | 883,145 | ||
Net book value | $ 464,253 | $ 883,145 |
Right-of-Use Assets (Details)_2
Right-of-Use Assets (Details) - Schedule of Right-of-Use Assets - USD ($) | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Right-of-Use Assets (Details) - Schedule of Right-of-Use Assets [Line Items] | ||||
Balance | $ 324,070 | $ 1,908,877 | $ 2,199,779 | |
Additions | 432,335 | |||
Amortization | (88,764) | (115,183) | ||
Amortization – Bophelo | (55,041) | |||
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | (1,745,205) | |||
Movement in exchange rates | 5,412 | (128,132) | (175,719) | |
Ending Balance | 324,070 | 1,908,877 | $ 2,199,779 | |
Land Lease [Member] | ||||
Right-of-Use Assets (Details) - Schedule of Right-of-Use Assets [Line Items] | ||||
Balance | 1,908,877 | 2,199,779 | ||
Additions | ||||
Amortization | (115,183) | (56,292) | ||
Amortization – Bophelo | (55,041) | |||
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | (1,745,205) | |||
Movement in exchange rates | (108,631) | (175,719) | (153,863) | |
Ending Balance | 1,908,877 | 2,199,779 | ||
Office Lease [Member] | ||||
Right-of-Use Assets (Details) - Schedule of Right-of-Use Assets [Line Items] | ||||
Balance | 324,070 | |||
Additions | 432,335 | |||
Amortization | (88,764) | |||
Amortization – Bophelo | ||||
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | ||||
Movement in exchange rates | $ 5,412 | (19,501) | ||
Ending Balance | $ 324,070 |
Intangible Assets (Details) -_2
Intangible Assets (Details) - Schedule of Intangible Assets - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Intangible Assets (Details) - Schedule of Intangible Assets [Line Items] | ||
Balance | $ 22,208,594 | $ 259,102 |
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | 2,264,147 | |
Gross carrying amount [member] | ||
Intangible Assets (Details) - Schedule of Intangible Assets [Line Items] | ||
Balance, | 422,826 | |
Movement in exchange rates | (22,889) | (33,370) |
Balance | 24,681,670 | 389,456 |
Acquisitions | 24,665,772 | |
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | (350,670) | |
Accumulated depreciation and amortisation [member] | ||
Intangible Assets (Details) - Schedule of Intangible Assets [Line Items] | ||
Balance, | 101,420 | |
Amortization | 2,472,372 | 38,766 |
Movement in exchange rates | 10,618 | (9,832) |
Balance | 2,473,076 | 130,354 |
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | (140,268) | |
Software [Member] | ||
Intangible Assets (Details) - Schedule of Intangible Assets [Line Items] | ||
Balance | 9,927 | |
Software [Member] | Gross carrying amount [member] | ||
Intangible Assets (Details) - Schedule of Intangible Assets [Line Items] | ||
Balance, | ||
Movement in exchange rates | 633 | |
Balance | 18,181 | |
Acquisitions | 17,548 | |
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | ||
Software [Member] | Accumulated depreciation and amortisation [member] | ||
Intangible Assets (Details) - Schedule of Intangible Assets [Line Items] | ||
Balance, | ||
Amortization | 7,550 | |
Movement in exchange rates | 704 | |
Balance | 8,254 | |
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | ||
Licences [Member] | ||
Intangible Assets (Details) - Schedule of Intangible Assets [Line Items] | ||
Balance | 22,198,667 | 259,102 |
Licences [Member] | Gross carrying amount [member] | ||
Intangible Assets (Details) - Schedule of Intangible Assets [Line Items] | ||
Balance, | 422,826 | |
Movement in exchange rates | (23,522) | (33,370) |
Balance | 24,663,489 | 389,456 |
Acquisitions | 24,648,224 | |
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | (350,670) | |
Licences [Member] | Accumulated depreciation and amortisation [member] | ||
Intangible Assets (Details) - Schedule of Intangible Assets [Line Items] | ||
Balance, | 101,420 | |
Amortization | 2,464,822 | 38,766 |
Movement in exchange rates | 9,914 | (9,832) |
Balance | 2,464,822 | $ 130,354 |
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. | $ (140,268) |
Loan Receivable (Details)_2
Loan Receivable (Details) | 6 Months Ended | 12 Months Ended | |||||||
Nov. 10, 2022 USD ($) | Jun. 30, 2023 USD ($) | Dec. 31, 2022 USD ($) | Jun. 30, 2023 GBP (£) | Jan. 31, 2023 USD ($) | Dec. 31, 2022 GBP (£) | Mar. 14, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2021 GBP (£) | |
Loan Receivable (Details) [Line Items] | |||||||||
Loan receivable | $ 506,460 | $ 483,588 | £ 400,000 | ||||||
Principal amount | 2,462,763 | $ 328,000 | $ 6,559,294 | 174,840 | |||||
Cellen Life Sciences Limited [Member] | |||||||||
Loan Receivable (Details) [Line Items] | |||||||||
Loan receivable | 483,588 | ||||||||
Loan Restructuring Agreement | Cellen Life Sciences Limited [Member] | |||||||||
Loan Receivable (Details) [Line Items] | |||||||||
Loan payable | $ 500,000 | 500,000 | $ 500,000 | ||||||
Interest rate, percentage | 5% | ||||||||
Principal amount | $ 500,000 | ||||||||
Bridge Loan Arrangement [Member] | |||||||||
Loan Receivable (Details) [Line Items] | |||||||||
Loan receivable | £ 400,000 | £ 400,000 |
Loan Receivable (Details) - S_2
Loan Receivable (Details) - Schedule of Loan Receivable | Jun. 30, 2023 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2022 GBP (£) | Dec. 31, 2021 USD ($) |
Schedule Of Loan Receivable Abstract | ||||
Loan to Cellen Life Sciences Limited | $ 506,460 | $ 483,588 | £ 400,000 |
Lease Liability (Details) - S_3
Lease Liability (Details) - Schedule of Lease Liability - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Schedule of Lease Liability [Abstract] | ||||
Current Maturity | 10.25% | |||
Current lease liabilities | $ 225,265 | $ 214,058 | $ 439,709 | $ 283,976 |
Non-current Maturity | 10.25% | |||
Non-current lease liabilities | 19,831 | $ 116,763 | 1,978,997 | 2,598,176 |
Total lease liability | $ 245,096 | $ 330,821 | $ 2,418,706 | $ 2,882,152 |
Lease Liability (Details) - __2
Lease Liability (Details) - Schedule of Lease Liability Recognized - USD ($) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Lease Liability (Details) - Schedule of Lease Liability Recognized [Line Items] | |||
Balance, December 31, 2021 | $ 330,821 | $ 2,418,706 | |
Present value of lease payments | 432,335 | ||
Accrued interest | 15,701 | 120,875 | |
Cash payments | (60,000) | (80,000) | |
Accounts payable | (60,000) | (20,000) | |
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. (note 5) | (2,375,590) | $ 2,418,706 | |
Movement in exchange rates | 18,574 | (165,505) | |
Balance, December 31, 2022 | 245,096 | 330,821 | |
Land Lease [Member] | |||
Lease Liability (Details) - Schedule of Lease Liability Recognized [Line Items] | |||
Balance, December 31, 2021 | 2,418,706 | ||
Present value of lease payments | |||
Accrued interest | 103,816 | ||
Cash payments | |||
Accounts payable | |||
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. (note 5) | (2,375,590) | ||
Movement in exchange rates | (146,932) | ||
Balance, December 31, 2022 | |||
Office Lease [Member] | |||
Lease Liability (Details) - Schedule of Lease Liability Recognized [Line Items] | |||
Balance, December 31, 2021 | 330,821 | ||
Present value of lease payments | 432,335 | ||
Accrued interest | 15,701 | 17,059 | |
Cash payments | (60,000) | (80,000) | |
Accounts payable | (60,000) | (20,000) | |
Impact of loss of control of Bophelo Bio Science & Wellness (Pty) Ltd. (note 5) | |||
Movement in exchange rates | $ 18,574 | (18,573) | |
Balance, December 31, 2022 | $ 330,821 |
Lease Liability (Details) - S_4
Lease Liability (Details) - Schedule of Undiscounted Minimum Lease Payments - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Lease Liability (Details) - Schedule of Undiscounted Minimum Lease Payments [Line Items] | |||
Undiscounted minimum lease payments | $ 260,000 | $ 380,000 | $ 4,345,129 |
2023 [Member] | |||
Lease Liability (Details) - Schedule of Undiscounted Minimum Lease Payments [Line Items] | |||
Undiscounted minimum lease payments | 120,000 | 240,000 | 108,628 |
2024 [Member] | |||
Lease Liability (Details) - Schedule of Undiscounted Minimum Lease Payments [Line Items] | |||
Undiscounted minimum lease payments | $ 140,000 | $ 140,000 | $ 260,708 |
Share Capital (Details) - Sch_4
Share Capital (Details) - Schedule of Shares Issued and Outstanding - Shares Issued and Outstanding Capital [Member] - USD ($) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Share Capital (Details) - Schedule of Shares Issued and Outstanding [Line Items] | |||
Balance | 34,637,379 | 22,231,318 | 13,129,212 |
Balance | $ 49,434,692 | $ 7,255,695 | $ 1,636 |
Shares issued to founders | 5,626,806 | ||
Shares issued to founders | $ 1 | ||
Seed subscription | 468,900 | ||
Seed subscription | $ 250,000 | ||
Private Placement | 162,000 | 2,126,400 | |
Private Placement | $ 278,481 | $ 4,804,058 | |
Issuance of shares upon conversion of note | 164,574 | ||
Issuance of shares upon conversion of note | $ 6,559,000 | ||
Issuance of shares from IPO | 4,000,000 | ||
Issuance of shares from IPO | $ 14,654,593 | ||
Issuance of shares in Holigen acquisition | 190,000 | ||
Issuance of shares in Holigen acquisition | $ 16,131,000 | ||
Loss of control of Bophelo Bio | $ (156) | ||
Loss of control of Bophelo Bio | |||
Settlement of Bridge Loan | 880,000 | ||
Settlement of Bridge Loan | $ 2,200,000 | ||
Balance | 4,025,461 | 34,637,379 | 22,231,318 |
Balance | $ 50,188,451 | $ 49,434,692 | $ 7,255,695 |
Issuance of shares to ASDT | 86,996 | ||
Issuance of shares to ASDT | $ 2,124,615 | ||
Previously stated [member] | |||
Share Capital (Details) - Schedule of Shares Issued and Outstanding [Line Items] | |||
Issuance of shares upon conversion of note | 1,645,745 | ||
Issuance of shares upon conversion of note | $ 6,559,000 | ||
Issuance of shares in Holigen acquisition | 1,900,000 | ||
Issuance of shares in Holigen acquisition | $ 16,131,000 | ||
Issuance of shares to ASDT | 869,963 | ||
Issuance of shares to ASDT | $ 2,124,615 | ||
Restricted Share Units of 0.97 Per Share [Member] | |||
Share Capital (Details) - Schedule of Shares Issued and Outstanding [Line Items] | |||
Fair value of RSUs issued | 1,124,569 | ||
Fair value of RSUs issued | $ 1,090,832 | ||
Restricted Share Units of 0.83 Per Share [Member] | |||
Share Capital (Details) - Schedule of Shares Issued and Outstanding [Line Items] | |||
Fair value of RSUs issued | 675,676 | ||
Fair value of RSUs issued | $ 560,135 | ||
Restricted Share Units of 0.71 Per Share [Member] | |||
Share Capital (Details) - Schedule of Shares Issued and Outstanding [Line Items] | |||
Fair value of RSUs issued | 608,108 | ||
Fair value of RSUs issued | $ 431,757 | ||
Restricted Share Units of 0.26 Per Share [Member] | |||
Share Capital (Details) - Schedule of Shares Issued and Outstanding [Line Items] | |||
Fair value of RSUs issued | 820,000 | ||
Fair value of RSUs issued | $ 210,740 | ||
Restricted Share Units of 0.23 Per Share [Member] | |||
Share Capital (Details) - Schedule of Shares Issued and Outstanding [Line Items] | |||
Fair value of RSUs issued | 600,000 | ||
Fair value of RSUs issued | $ 138,000 |
Share Capital (Details) - Sch_5
Share Capital (Details) - Schedule of Shares Issued and Outstanding (Parentheticals) - Shares Issued and Outstanding Capital [Member] | 12 Months Ended |
Dec. 31, 2022 $ / shares | |
Restricted Share Units of 0.97 Per Share [Member] | |
Share Capital (Details) - Schedule of Shares Issued and Outstanding (Parentheticals) [Line Items] | |
Share price | $ 0.97 |
Restricted Share Units of 0.83 Per Share [Member] | |
Share Capital (Details) - Schedule of Shares Issued and Outstanding (Parentheticals) [Line Items] | |
Share price | 0.83 |
Restricted Share Units of 0.71 Per Share [Member] | |
Share Capital (Details) - Schedule of Shares Issued and Outstanding (Parentheticals) [Line Items] | |
Share price | 0.71 |
Restricted Share Units of 0.26 Per Share [Member] | |
Share Capital (Details) - Schedule of Shares Issued and Outstanding (Parentheticals) [Line Items] | |
Share price | 0.26 |
Restricted Share Units of 0.23 Per Share [Member] | |
Share Capital (Details) - Schedule of Shares Issued and Outstanding (Parentheticals) [Line Items] | |
Share price | $ 0.23 |
Share Capital (Details) - Sch_6
Share Capital (Details) - Schedule of Outstanding RSUs - Restricted Stock Units [Member[ | 12 Months Ended | ||||||||||
May 02, 2023 | Jan. 24, 2023 | Nov. 21, 2022 | Oct. 28, 2022 | Sep. 22, 2022 | Sep. 21, 2022 | Sep. 06, 2022 | Aug. 11, 2022 | Jul. 29, 2022 | Apr. 22, 2022 | Dec. 31, 2022 | |
Share Capital (Details) - Schedule of Outstanding RSUs [Line Items] | |||||||||||
Balance | 0 | ||||||||||
Granted | 637,254 | 421,052 | 82,000 | 300,000 | 98,896 | 60,810 | 20,620 | 112,456 | 2,480,532 | 7,804,046 | |
Exercised | (60,810) | (82,000) | (112,456) | (3,828,353) | |||||||
Ending Balance | 3,975,693 |
Related Party Transactions (D_3
Related Party Transactions (Details) - Schedule of Transactions with Key Management Personnel - USD ($) | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Schedule of Transactions with Key Management Personnel [Abstract] | ||||||
Key management personnel | $ 299,382 | $ 1,079,324 | $ 3,572,602 | $ 1,148,206 | $ 259,035 | $ 116,481 |
Stock-based compensation | 487,885 | 898,640 | 121,467 | 121,970 | ||
Short term accommodation expense | 69,521 | 45,482 | 26,264 | |||
Total | $ 299,382 | $ 1,567,209 | $ 4,471,242 | $ 1,217,727 | $ 425,984 | $ 264,715 |
Income Taxes (Details)
Income Taxes (Details) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Kingdom of Lesotho [Member] | ||
Income Taxes (Details) [Line Items] | ||
Statutory tax rate | 10% | 10% |
Republic of Malta [Member] | ||
Income Taxes (Details) [Line Items] | ||
Statutory tax rate | 35% | 35% |
United Kingdom [Member] | ||
Income Taxes (Details) [Line Items] | ||
Statutory tax rate | 19% | 19% |
Republic of Portugal [Member] | ||
Income Taxes (Details) [Line Items] | ||
Statutory tax rate | 21% |
Income Taxes (Details) - Schedu
Income Taxes (Details) - Schedule of Income Tax Expense (Benefit) - USD ($) | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Income Taxes (Details) - Schedule of Income Tax Expense (Benefit) [Line Items] | ||||
Current income tax expense (benefit) | ||||
Kingdom of Lesotho [Member] | ||||
Income Taxes (Details) - Schedule of Income Tax Expense (Benefit) [Line Items] | ||||
Current income tax expense (benefit) | ||||
Republic of Malta [Member] | ||||
Income Taxes (Details) - Schedule of Income Tax Expense (Benefit) [Line Items] | ||||
Current income tax expense (benefit) | ||||
United Kingdom [Member] | ||||
Income Taxes (Details) - Schedule of Income Tax Expense (Benefit) [Line Items] | ||||
Current income tax expense (benefit) |
Income Taxes (Details) - Sche_2
Income Taxes (Details) - Schedule Deferred Tax Assets and Liabilities - USD ($) | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Schedule Deferred Tax Assets And Liabilities Abstract | ||||
Net loss before income taxes: | $ (11,657,674) | $ (8,131,197) | $ (2,300,571) | $ (1,394,641) |
Statutory income tax rate | 26.50% | 26.50% | 26.50% | 26.50% |
Income tax benefit | $ (3,089,284) | $ (2,154,767) | $ (609,651) | $ (369,580) |
Non-deductible items | 1,664,757 | |||
Non-taxable items | (3,420,469) | |||
Foreign rate differential | (323,877) | 1,227,150 | 379,594 | 230,116 |
Unrecognized loss carryforwards | $ 5,168,873 | $ 1,089,449 | $ 230,057 | $ 139,464 |
Income Taxes (Details) - Sche_3
Income Taxes (Details) - Schedule of Deferred Tax Assets - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Net operating loss before carryforwards [Member] | ||
Income Taxes (Details) - Schedule of Deferred Tax Assets [Line Items] | ||
Deferred tax assets | ||
Unrecognized loss carryforwards [Member] | ||
Income Taxes (Details) - Schedule of Deferred Tax Assets [Line Items] | ||
Deferred tax assets |
Financial Instruments (Detail_2
Financial Instruments (Details) - Schedule of Financial Instruments - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Trade And Other Payables [Member] | Level 2 of fair value hierarchy [member] | ||||
Financial liabilities | ||||
Financial assets | $ 8,460,194 | $ 7,139,817 | $ 680,328 | $ 183,895 |
Financial assets, at fair value | 8,460,194 | 7,139,817 | 680,328 | 183,895 |
Loans And Borrowings [Member] | Level 2 of fair value hierarchy [member] | ||||
Financial liabilities | ||||
Financial assets | 4,941,318 | 3,568,896 | 432,201 | 6,240,713 |
Financial assets, at fair value | 4,941,318 | 3,568,896 | 432,201 | 6,240,713 |
Holdback Payable [Member] | Level 2 of fair value hierarchy [member] | ||||
Financial liabilities | ||||
Financial assets | 400,000 | 377,465 | ||
Financial assets, at fair value | 400,000 | 377,465 | ||
Lease liabilities [member] | Level 2 of fair value hierarchy [member] | ||||
Financial liabilities | ||||
Financial assets | 245,096 | 330,821 | 2,418,706 | 2,882,152 |
Financial assets, at fair value | 245,096 | 330,821 | 2,418,706 | 2,882,152 |
Due to Related Party [Member] | Level 2 of fair value hierarchy [member] | ||||
Financial liabilities | ||||
Financial assets | 811,905 | 679,617 | ||
Financial assets, at fair value | 811,905 | 679,617 | ||
Secured convertible debenture | Level 2 of fair value hierarchy [member] | ||||
Financial liabilities | ||||
Financial assets | 6,716,190 | |||
Financial assets, at fair value | 6,716,190 | |||
Cash [Member] | Level 1 of fair value hierarchy [member] | ||||
Financial assets measured at amortised cost: | ||||
Financial assets | 443,338 | 228,794 | 3,495,390 | 13,504 |
Financial assets, at fair value | 443,338 | 228,794 | 3,495,390 | 13,504 |
Marketable Securities [Member] | Level 1 of fair value hierarchy [member] | ||||
Financial assets measured at amortised cost: | ||||
Financial assets | 270,000 | 263,691 | ||
Financial assets, at fair value | 270,000 | 263,691 | ||
Trade receivables [member] | Level 2 of fair value hierarchy [member] | ||||
Financial assets measured at amortised cost: | ||||
Financial assets | 657,568 | 1,235,619 | 242,357 | |
Financial assets, at fair value | 657,568 | 1,235,619 | 242,357 | |
Cash Loans Receivable [Member] | Level 2 of fair value hierarchy [member] | ||||
Financial assets measured at amortised cost: | ||||
Financial assets | 506,460 | 483,588 | ||
Financial assets, at fair value | $ 506,460 | $ 483,588 |
Risks Arising from Financial _5
Risks Arising from Financial Instruments and Risk Management (Details) - Schedule of Foreign Currency Denominated Financial Assets and Liabilities - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Trade and other payables [Member] | GBP [Member] | ||
Financial assets | ||
Financial assets and liabilities | $ 923,725 | $ 239,763 |
Trade and other payables [Member] | EUR [Member] | ||
Financial assets | ||
Financial assets and liabilities | 3,201,180 | |
Trade and other payables [Member] | CAD [Member] | ||
Financial assets | ||
Financial assets and liabilities | 3,629,380 | 234,711 |
Loans and borrowings [Member] | GBP [Member] | ||
Financial assets | ||
Financial assets and liabilities | 25,000 | |
Loans and borrowings [Member] | EUR [Member] | ||
Financial assets | ||
Financial assets and liabilities | 3,307,633 | |
Loans and borrowings [Member] | LSL [Member] | ||
Financial assets | ||
Financial assets and liabilities | 7,846,551 | |
Financial liabilities at amortised cost, class [member] | GBP [Member] | ||
Financial assets | ||
Financial assets and liabilities | 948,725 | 239,763 |
Financial liabilities at amortised cost, class [member] | EUR [Member] | ||
Financial assets | ||
Financial assets and liabilities | 6,508,813 | |
Financial liabilities at amortised cost, class [member] | CAD [Member] | ||
Financial assets | ||
Financial assets and liabilities | 5,398,888 | 234,711 |
Financial liabilities at amortised cost, class [member] | LSL [Member] | ||
Financial assets | ||
Financial assets and liabilities | 46,811,903 | |
Due to related party [Member] | CAD [Member] | ||
Financial assets | ||
Financial assets and liabilities | 810,206 | |
Holdback payable [Member] | CAD [Member] | ||
Financial assets | ||
Financial assets and liabilities | 511,238 | |
Lease liabilities [member] | CAD [Member] | ||
Financial assets | ||
Financial assets and liabilities | 448,064 | |
Lease liabilities [member] | LSL [Member] | ||
Financial assets | ||
Financial assets and liabilities | 38,965,352 | |
Cash and cash held in trust [Member] | GBP [Member] | ||
Financial assets | ||
Financial assets and liabilities | 75,315 | 2,577,674 |
Trade and other receivables [Member] | GBP [Member] | ||
Financial assets | ||
Financial assets and liabilities | 149,223 | 30,983 |
Loan receivable [Member] | GBP [Member] | ||
Financial assets | ||
Financial assets and liabilities | 400,000 | |
Financial assets at amortised cost, class [member] | GBP [Member] | ||
Financial assets | ||
Financial assets and liabilities | 624,538 | 2,608,657 |
Financial assets at amortised cost, class [member] | EUR [Member] | ||
Financial assets | ||
Financial assets and liabilities | 1,028,984 | |
Financial assets at amortised cost, class [member] | CAD [Member] | ||
Financial assets | ||
Financial assets and liabilities | 497,566 | 255,880 |
Financial assets at amortised cost, class [member] | LSL [Member] | ||
Financial assets | ||
Financial assets and liabilities | 321,646 | |
Cash [Member] | EUR [Member] | ||
Financial assets | ||
Financial assets and liabilities | 42,664 | |
Cash [Member] | CAD [Member] | ||
Financial assets | ||
Financial assets and liabilities | 140,423 | 255,880 |
Cash [Member] | LSL [Member] | ||
Financial assets | ||
Financial assets and liabilities | 321,646 | |
Trade and other receivables [Member] | EUR [Member] | ||
Financial assets | ||
Financial assets and liabilities | 986,320 | |
Marketable securities [Member] | CAD [Member] | ||
Financial assets | ||
Financial assets and liabilities | $ 357,143 |
Segmented Information (Detail_4
Segmented Information (Details) - Schedule of Information about the Assets, Liabilities and Profit or Loss From Each Segment - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Cultivation [Member] | ||
Segmented Information (Details) - Schedule of Information about the Assets, Liabilities and Profit or Loss From Each Segment [Line Items] | ||
Reportable segment assets | $ 37,392,401 | $ 4,127,273 |
Reportable segment liabilities | 6,961,243 | 3,020,730 |
Revenues from external customers | 2,517,904 | |
Intersegment revenues | ||
Other expense | ||
Other income (expense) | 13,348,562 | |
Finance income | ||
Finance expense | (84,686) | |
Depreciation & amortization | 3,507,013 | |
Discontinued operations | (3,422,225) | (5,657,494) |
Reportable segment income (loss) | 3,974,069 | (5,331,601) |
Distribution [Member] | ||
Segmented Information (Details) - Schedule of Information about the Assets, Liabilities and Profit or Loss From Each Segment [Line Items] | ||
Reportable segment assets | 819,376 | 3,716,771 |
Reportable segment liabilities | 1,146,980 | 323,129 |
Revenues from external customers | 101,778 | 41,431 |
Intersegment revenues | ||
Other expense | 55 | |
Other income (expense) | (3,532) | |
Finance income | 886 | 90 |
Finance expense | (49) | |
Depreciation & amortization | 2,546 | 478 |
Discontinued operations | ||
Reportable segment income (loss) | (8,089,036) | (1,775,923) |
Corporate [Member] | ||
Segmented Information (Details) - Schedule of Information about the Assets, Liabilities and Profit or Loss From Each Segment [Line Items] | ||
Reportable segment assets | 785,000 | 201,959 |
Reportable segment liabilities | 3,988,393 | 6,903,926 |
Revenues from external customers | ||
Intersegment revenues | ||
Other expense | ||
Other income (expense) | (1,289,652) | |
Finance income | ||
Finance expense | (30,589) | 10,509 |
Depreciation & amortization | 88,764 | |
Discontinued operations | ||
Reportable segment income (loss) | (7,542,707) | (1,023,673) |
Reportable Segment [Member] | ||
Segmented Information (Details) - Schedule of Information about the Assets, Liabilities and Profit or Loss From Each Segment [Line Items] | ||
Reportable segment assets | 38,996,777 | 8,046,003 |
Reportable segment liabilities | 12,096,616 | 10,247,425 |
Revenues from external customers | 2,619,682 | 41,431 |
Intersegment revenues | ||
Other expense | 55 | |
Other income (expense) | 12,055,378 | |
Finance income | 886 | 90 |
Finance expense | (115,324) | 10,509 |
Depreciation & amortization | 3,598,323 | 478 |
Discontinued operations | (3,422,225) | (5,657,494) |
Reportable segment income (loss) | $ (11,657,674) | $ (8,131,197) |
Segmented Information (Detail_5
Segmented Information (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities - USD ($) | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Cultivation Segment [Member] | ||||||
Segmented Information (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Total revenues | $ 1,268,702 | $ 57,516 | $ 2,517,904 | |||
Net loss | (3,223,676) | (5,744,346) | ||||
Income (Loss) before income tax expense | 3,974,069 | (5,331,601) | ||||
Total assets | 37,392,401 | 4,127,273 | ||||
Total liabilities | 6,961,243 | 3,020,370 | ||||
Cultivation Segment [Member] | Operating segments [member] | ||||||
Segmented Information (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Total revenues | 1,268,702 | 57,516 | 2,517,904 | |||
Net loss | (3,223,676) | 9,491,380 | (5,331,600) | (2,298,310) | (1,394,611) | |
Total assets | 37,392,401 | 4,127,273 | ||||
Total liabilities | 16,032,790 | 10,602,945 | ||||
Cultivation Segment [Member] | Elimination of intersegment amounts [member] | ||||||
Segmented Information (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Total revenues | ||||||
Net loss | ||||||
Income (Loss) before income tax expense | (2,298,310) | |||||
Total assets | ||||||
Total liabilities | (9,071,547) | (7,582,575) | ||||
Cultivation Segment [Member] | Total profit or loss for reportable segments [Member] | ||||||
Segmented Information (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Net loss | 7,396,294 | 325,893 | ||||
Cultivation Segment [Member] | Unallocated amounts [member] | ||||||
Segmented Information (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Net loss | (3,422,225) | (5,657,494) | ||||
Distribution Segment [Member] | ||||||
Segmented Information (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Total revenues | 128,741 | 15,580 | 101,778 | 41,431 | 2,062 | |
Net loss | (337,238) | (6,867,849) | ||||
Income (Loss) before income tax expense | (8,089,036) | (1,775,923) | ||||
Total assets | 819,376 | 3,716,771 | ||||
Total liabilities | 1,146,980 | 323,129 | ||||
Distribution Segment [Member] | Operating segments [member] | ||||||
Segmented Information (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Total revenues | 128,741 | 15,580 | 101,778 | 41,431 | 2,062 | |
Net loss | (337,238) | (6,867,849) | (1,775,923) | (2,261) | (30) | |
Total assets | 19,950,376 | 4,082,801 | ||||
Total liabilities | 29,335,641 | 5,437,189 | ||||
Distribution Segment [Member] | Elimination of intersegment amounts [member] | ||||||
Segmented Information (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Total revenues | ||||||
Net loss | ||||||
Income (Loss) before income tax expense | (2,261) | |||||
Total assets | (19,131,000) | (366,030) | ||||
Total liabilities | (28,188,661) | (5,114,060) | ||||
Distribution Segment [Member] | Total profit or loss for reportable segments [Member] | ||||||
Segmented Information (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Net loss | (8,089,036) | (1,775,923) | ||||
Distribution Segment [Member] | Unallocated amounts [member] | ||||||
Segmented Information (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Net loss | ||||||
Corporate Segment [Member] | ||||||
Segmented Information (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Total revenues | ||||||
Net loss | (2,316,968) | (1,470,241) | ||||
Income (Loss) before income tax expense | (7,542,707) | (1,023,673) | ||||
Total assets | 785,000 | 201,959 | ||||
Total liabilities | 3,988,393 | 6,903,926 | ||||
Corporate Segment [Member] | Operating segments [member] | ||||||
Segmented Information (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Total revenues | ||||||
Net loss | (2,316,968) | (1,470,241) | (1,019,823) | |||
Total assets | 13,914,212 | 26,027,087 | ||||
Total liabilities | (26,121,029) | (5,880,163) | ||||
Corporate Segment [Member] | Elimination of intersegment amounts [member] | ||||||
Segmented Information (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Total revenues | ||||||
Net loss | ||||||
Income (Loss) before income tax expense | ||||||
Total assets | (13,129,212) | (25,825,848) | ||||
Total liabilities | 30,109,422 | 12,784,089 | ||||
Corporate Segment [Member] | Total profit or loss for reportable segments [Member] | ||||||
Segmented Information (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Net loss | (7,542,707) | (1,023,673) | ||||
Corporate Segment [Member] | Unallocated amounts [member] | ||||||
Segmented Information (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Net loss | ||||||
Reportable segments [member] | ||||||
Segmented Information (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Total revenues | 1,397,443 | 73,096 | 2,619,682 | 41,431 | 2,062 | |
Net loss | (5,877,882) | (2,593,744) | ||||
Income (Loss) before income tax expense | (11,657,674) | (8,131,197) | ||||
Total assets | 38,996,777 | 8,046,003 | ||||
Total liabilities | 12,096,616 | 10,247,425 | ||||
Reportable segments [member] | Operating segments [member] | ||||||
Segmented Information (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Total revenues | 1,397,443 | 73,096 | 2,619,682 | 41,431 | 2,062 | |
Net loss | (5,877,882) | 1,153,290 | (8,127,347) | (2,300,571) | (1,394,641) | |
Total assets | 71,256,989 | 34,237,881 | ||||
Total liabilities | 19,247,402 | 10,160,956 | ||||
Reportable segments [member] | Elimination of intersegment amounts [member] | ||||||
Segmented Information (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Total revenues | ||||||
Net loss | ||||||
Income (Loss) before income tax expense | $ (2,300,571) | |||||
Total assets | (32,260,212) | (26,191,878) | ||||
Total liabilities | (7,150,786) | 86,469 | ||||
Reportable segments [member] | Total profit or loss for reportable segments [Member] | ||||||
Segmented Information (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Net loss | (8,235,449) | (2,473,703) | ||||
Reportable segments [member] | Unallocated amounts [member] | ||||||
Segmented Information (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Net loss | $ (3,422,225) | $ (5,657,494) |
Significant Accounting Polici_6
Significant Accounting Policies (Details) - Schedule of Subsidiaries of the Company | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Cannahealth Ltd. (“Cannahealth”) [Member] | ||
Significant Accounting Policies (Details) - Schedule of Subsidiaries of the Company [Line Items] | ||
Country of Incorporation | Malta | Malta |
Holding | 100% | 100% |
Functional Currency | EUR | EUR |
Bophelo Holdings Ltd. (“Bophelo H”) [Member] | ||
Significant Accounting Policies (Details) - Schedule of Subsidiaries of the Company [Line Items] | ||
Country of Incorporation | United Kingdom | United Kingdom |
Holding | 100% | 100% |
Functional Currency | GBP | GBP |
Bophelo Bio Science and Wellness (Pty) Ltd. (“Bophelo”) [Member] | ||
Significant Accounting Policies (Details) - Schedule of Subsidiaries of the Company [Line Items] | ||
Country of Incorporation | Lesotho | Lesotho |
Holding | 100% | 100% |
Functional Currency | LSL | LSL |
Canmart Ltd. (“Canmart”) [Member] | ||
Significant Accounting Policies (Details) - Schedule of Subsidiaries of the Company [Line Items] | ||
Country of Incorporation | United Kingdom | United Kingdom |
Holding | 100% | 100% |
Functional Currency | GBP | GBP |
Significant Accounting Polici_7
Significant Accounting Policies (Details) - Schedule of Estimated Useful Lives For The Current and Comparative Periods | 12 Months Ended |
Dec. 31, 2022 | |
Plant and equipment [member] | |
Significant Accounting Policies (Details) - Schedule of Estimated Useful Lives For The Current and Comparative Periods [Line Items] | |
Estimated useful lives | 10 years |
Leasehold improvements [member] | |
Significant Accounting Policies (Details) - Schedule of Estimated Useful Lives For The Current and Comparative Periods [Line Items] | |
Estimated useful lives | 20 years |
Motor vehicles [member] | |
Significant Accounting Policies (Details) - Schedule of Estimated Useful Lives For The Current and Comparative Periods [Line Items] | |
Estimated useful lives | 4 years |
Computers [member] | |
Significant Accounting Policies (Details) - Schedule of Estimated Useful Lives For The Current and Comparative Periods [Line Items] | |
Estimated useful lives | 3 years |
Furniture and fixtures [member] | |
Significant Accounting Policies (Details) - Schedule of Estimated Useful Lives For The Current and Comparative Periods [Line Items] | |
Estimated useful lives | 6 years |
Accounts Receivable (Details) -
Accounts Receivable (Details) - Schedule of Accounts Receivable - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Schedule Of Accounts Receivable Abstract | ||||
Trade accounts receivable | $ 294,021 | $ 720,085 | $ 29,457 | |
Sales taxes receivable | 19,020 | 91,416 | 212,900 | |
Trade and other receivables | $ 657,568 | $ 1,235,619 | $ 242,357 |
Inventory (Details) - Schedul_3
Inventory (Details) - Schedule of Reconciliation of the Company’s Biological Assets - USD ($) | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Inventory (Details) - Schedule of Reconciliation of the Company’s Biological Assets [Line Items] | ||||||
Balance, beginning of the period | $ 809,180 | |||||
Requisition of raw materials from inventory | ||||||
Capitalized costs | ||||||
Loss on change in fair value of biological assets | 108,239 | 1,216,130 | (713,135) | |||
Balance, Ending of the period | 257,144 | 809,180 | ||||
At fair value [member] | ||||||
Inventory (Details) - Schedule of Reconciliation of the Company’s Biological Assets [Line Items] | ||||||
Balance, beginning of the period | ||||||
Requisition of raw materials from inventory | 202,900 | |||||
Capitalized costs | 490,672 | |||||
Loss on change in fair value of biological assets | $ (562,045) | $ 580,411 | (693,572) | |||
Balance, Ending of the period |
Property and Equipment (Details
Property and Equipment (Details) - Schedule of Property and Equipment - USD ($) | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Property and Equipment (Details) - Schedule of Property and Equipment [Line Items] | ||||
Balance at beginning of period, Cost | $ 13,284,387 | $ 2,206,400 | $ 1,799,940 | $ 1,408,618 |
Additions | 1,935 | 310,946 | 576,472 | 439,137 |
Reclassifications | ||||
Balance at beginning of period, Accumulated depreciation | 1,124,883 | 308,652 | 173,908 | 94,405 |
Write-offs | (23,748) | |||
Foreign exchange movements | 280,691 | 94,814 | (170,012) | (24,067) |
Balance at end of period, Cost | 13,567,013 | 13,284,387 | 2,206,400 | 1,799,940 |
Depreciation | 810,260 | 1,037,187 | 155,073 | 84,587 |
Net book value | 11,556,836 | 12,159,504 | 1,897,748 | 1,626,032 |
Foreign exchange movements | 75,034 | 45,797 | (20,329) | (5,084) |
Balance at end of period, Accumulated depreciation | 2,010,177 | 1,124,883 | 308,652 | 173,908 |
Plant and equipment [Member] | ||||
Property and Equipment (Details) - Schedule of Property and Equipment [Line Items] | ||||
Balance at beginning of period, Cost | 12,135,221 | 590,011 | 586,360 | 449,044 |
Additions | 108,933 | 53,808 | 172,369 | |
Reclassifications | ||||
Balance at beginning of period, Accumulated depreciation | 1,053,249 | 174,854 | 123,710 | 67,113 |
Write-offs | (23,748) | |||
Foreign exchange movements | 255,388 | 282,219 | (50,157) | (11,305) |
Balance at end of period, Cost | 12,390,609 | 12,135,221 | 590,011 | 586,360 |
Depreciation | 771,232 | 972,872 | 63,785 | 60,212 |
Net book value | 10,497,745 | 11,081,972 | 415,157 | 462,650 |
Foreign exchange movements | 68,383 | 68,415 | (12,641) | (3,615) |
Balance at end of period, Accumulated depreciation | 1,892,864 | 1,053,249 | 174,854 | 123,710 |
Leasehold Improvements [Member] | ||||
Property and Equipment (Details) - Schedule of Property and Equipment [Line Items] | ||||
Balance at beginning of period, Cost | 1,089,694 | 293,437 | 304,770 | |
Additions | 1,490 | 66,110 | 493,136 | |
Reclassifications | 360,695 | |||
Balance at beginning of period, Accumulated depreciation | 108,623 | 36,324 | 22,489 | |
Write-offs | ||||
Foreign exchange movements | 40 | (67,232) | (57,574) | (11,333) |
Balance at end of period, Cost | 1,530 | 1,089,694 | 293,437 | |
Depreciation | 149 | 78,352 | 14,950 | |
Net book value | 1,377 | 981,071 | 257,113 | |
Foreign exchange movements | 4 | (9,000) | (6,053) | (1,115) |
Balance at end of period, Accumulated depreciation | 153 | 108,623 | 36,324 | |
Motor Vehicles [Member] | ||||
Property and Equipment (Details) - Schedule of Property and Equipment [Line Items] | ||||
Balance at beginning of period, Cost | 92,255 | 47,623 | 36,998 | 38,427 |
Additions | 10,489 | 14,214 | ||
Reclassifications | ||||
Balance at beginning of period, Accumulated depreciation | 30,519 | 23,505 | 13,874 | 4,803 |
Write-offs | ||||
Foreign exchange movements | 3,270 | (603) | (3,589) | (1,429) |
Balance at end of period, Cost | 95,525 | 92,255 | 47,623 | 36,998 |
Depreciation | 19,594 | 27,883 | 11,208 | 9,425 |
Net book value | 43,073 | 61,736 | 24,118 | 23,124 |
Foreign exchange movements | 2,339 | 911 | (1,577) | (354) |
Balance at end of period, Accumulated depreciation | 52,452 | 30,519 | 23,505 | 13,874 |
Computers [Member] | ||||
Property and Equipment (Details) - Schedule of Property and Equipment [Line Items] | ||||
Balance at beginning of period, Cost | 42,439 | 10,124 | ||
Additions | 408 | 13,348 | 10,427 | |
Reclassifications | ||||
Balance at beginning of period, Accumulated depreciation | 26,344 | 1,206 | ||
Write-offs | ||||
Foreign exchange movements | 3,443 | 1,115 | (303) | |
Balance at end of period, Cost | 46,290 | 42,439 | 10,124 | |
Depreciation | 8,629 | 22,942 | 1,245 | |
Net book value | 8,220 | 16,095 | 8,918 | |
Foreign exchange movements | 3,097 | (15,759) | (39) | |
Balance at end of period, Accumulated depreciation | 38,070 | 26,344 | 1,206 | |
Furniture and fixtures [Member] | ||||
Property and Equipment (Details) - Schedule of Property and Equipment [Line Items] | ||||
Balance at beginning of period, Cost | 129,235 | 4,695 | ||
Additions | 37 | 3,435 | 4,887 | |
Reclassifications | ||||
Balance at beginning of period, Accumulated depreciation | 14,771 | 464 | ||
Write-offs | ||||
Foreign exchange movements | 3,168 | 2,181 | (192) | |
Balance at end of period, Cost | 132,440 | 129,235 | 4,695 | |
Depreciation | 10,656 | 13,490 | 483 | |
Net book value | 105,802 | 114,464 | 4,231 | |
Foreign exchange movements | 1,211 | 1,230 | (19) | |
Balance at end of period, Accumulated depreciation | 26,638 | 14,771 | 464 | |
Capital work-in- progress [Member] | ||||
Property and Equipment (Details) - Schedule of Property and Equipment [Line Items] | ||||
Balance at beginning of period, Cost | 464,253 | 883,145 | 616,377 | |
Additions | 108,631 | 266,768 | ||
Reclassifications | (360,695) | |||
Write-offs | ||||
Foreign exchange movements | (135,767) | (58,197) | ||
Balance at end of period, Cost | 464,253 | 883,145 | ||
Net book value | $ 464,253 | $ 883,145 |
Right-of-Use Assets (Details)_3
Right-of-Use Assets (Details) - Schedule of Right-of-use Assets - Land Lease [Member] - USD ($) | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Right-of-Use Assets (Details) - Schedule of Right-of-use Assets [Line Items] | ||||
Balance | $ 1,908,877 | $ 2,199,779 | $ 2,409,934 | |
Additions | ||||
Amortization | (115,183) | (56,292) | ||
Movement in exchange rates | $ (108,631) | (175,719) | (153,863) | |
Balance | $ 1,908,877 | $ 2,199,779 |
Intangible Assets (Details) -_3
Intangible Assets (Details) - Schedule of Intangible Assets - Licences [member] - USD ($) | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Intangible Assets (Details) - Schedule of Intangible Assets [Line Items] | ||||
Balance at beginning of period | $ 259,102 | $ 321,406 | ||
Balance at end of period | 259,102 | $ 321,406 | ||
Gross carrying amount [member] | ||||
Intangible Assets (Details) - Schedule of Intangible Assets [Line Items] | ||||
Balance at beginning of period | 389,456 | 422,826 | 437,911 | |
Movement in exchange rates | $ 722 | (23,521) | (33,370) | (15,085) |
Balance at end of period | 389,456 | 422,826 | ||
Accumulated depreciation and amortisation [member] | ||||
Intangible Assets (Details) - Schedule of Intangible Assets [Line Items] | ||||
Balance at beginning of period | 130,354 | 101,420 | 63,202 | |
Amortization | 38,766 | 41,337 | ||
Movement in exchange rates | $ 9,914 | (9,832) | (3,119) | |
Balance at end of period | $ 130,354 | $ 101,420 |
Lease Liability (Details) - S_5
Lease Liability (Details) - Schedule of Lease Liability - USD ($) | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2023 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2020 | |
Schedule of Lease Liability [Abstract] | ||||
Current Maturity | 2023 | 2022 | ||
Current Incremental borrowing rate | 10.25% | 10.25% | ||
Current lease liabilities | $ 225,265 | $ 439,709 | $ 214,058 | $ 283,976 |
Non-current Maturity | 2024 | 2023 – 2039 | ||
Non-current Incremental borrowing rate | 10.25% | 10.25% | ||
Non-current lease liabilities | $ 19,831 | $ 1,978,997 | 116,763 | 2,598,176 |
Total lease liability | $ 245,096 | $ 2,418,706 | $ 330,821 | $ 2,882,152 |
Lease Liability (Details) - S_6
Lease Liability (Details) - Schedule of Undiscounted Minimum Lease Payments Remaining - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Lease Liability (Details) - Schedule of Undiscounted Minimum Lease Payments Remaining [Line Items] | |||
Undiscounted minimum lease payments | $ 260,000 | $ 380,000 | $ 4,345,129 |
2022 [Member] | |||
Lease Liability (Details) - Schedule of Undiscounted Minimum Lease Payments Remaining [Line Items] | |||
Undiscounted minimum lease payments | 120,000 | 240,000 | 108,628 |
2023 [Member] | |||
Lease Liability (Details) - Schedule of Undiscounted Minimum Lease Payments Remaining [Line Items] | |||
Undiscounted minimum lease payments | $ 140,000 | $ 140,000 | 260,708 |
2024 [Member] | |||
Lease Liability (Details) - Schedule of Undiscounted Minimum Lease Payments Remaining [Line Items] | |||
Undiscounted minimum lease payments | 260,708 | ||
2025 [Member] | |||
Lease Liability (Details) - Schedule of Undiscounted Minimum Lease Payments Remaining [Line Items] | |||
Undiscounted minimum lease payments | 260,708 | ||
2026 [Member] | |||
Lease Liability (Details) - Schedule of Undiscounted Minimum Lease Payments Remaining [Line Items] | |||
Undiscounted minimum lease payments | 260,708 | ||
Thereafter [Member] | |||
Lease Liability (Details) - Schedule of Undiscounted Minimum Lease Payments Remaining [Line Items] | |||
Undiscounted minimum lease payments | $ 3,193,669 |
Capital (Details) - Schedule of
Capital (Details) - Schedule of Shares Issued and Outstanding - Shares Issued and Outstanding Capital [Member] - USD ($) | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2019 | |
Capital (Details) - Schedule of Shares Issued and Outstanding [Line Items] | ||||
Balance | 13,129,212 | |||
Balance | $ 1,636 | |||
Balance | 22,231,318 | 13,129,212 | ||
Balance | $ 49,434,692 | $ 7,255,695 | $ 1,636 | |
Shares issued to founders | 5,626,806 | |||
Shares issued to founders | $ 1 | |||
Seed subscription | 468,900 | |||
Seed subscription | $ 250,000 | |||
Private Placement | 162,000 | 2,126,400 | ||
Private Placement | $ 4,804,058 | |||
Settlement of Bridge Loan | 880,000 | |||
Settlement of Bridge Loan | $ 2,200,000 | |||
Balance | 22,231,318 | |||
Balance | $ 50,188,451 | $ 49,434,692 | $ 7,255,695 |
Income Taxes (Details) - Sche_4
Income Taxes (Details) - Schedule of Income Tax Expense (Benefit) - USD ($) | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Current: | ||||
Current income tax expense (benefit) | ||||
Kingdom of Lesotho [Member] | ||||
Current: | ||||
Current income tax expense (benefit) | ||||
Republic of Malta [Member] | ||||
Current: | ||||
Current income tax expense (benefit) | ||||
United Kingdom [Member] | ||||
Current: | ||||
Current income tax expense (benefit) |
Income Taxes (Details) - Sche_5
Income Taxes (Details) - Schedule of Deferred Tax Assets and Liabilities - USD ($) | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Schedule Of Deferred Tax Assets And Liabilities Abstract | ||||
Net loss before income taxes | $ (11,657,674) | $ (8,131,197) | $ (2,300,571) | $ (1,394,641) |
Statutory income tax rate | 26.50% | 26.50% | 26.50% | 26.50% |
Income tax benefit | $ (3,089,284) | $ (2,154,767) | $ (609,651) | $ (369,580) |
Foreign rate differential | (323,877) | 1,227,150 | 379,594 | 230,116 |
Unrecognized loss carryforwards | $ 5,168,873 | 1,089,449 | 230,057 | 139,464 |
Deferred tax assets and liabilities |
Income Taxes (Details) - Sche_6
Income Taxes (Details) - Schedule of Deferred Tax Assets - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Schedule Of Deferred Tax Assets Abstract | ||
Net operating loss before carryforwards | ||
Unrecognized loss carryforwards |
Related Party Transactions (D_4
Related Party Transactions (Details) - Schedule of Transactions with Key Management Personnel - USD ($) | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Schedule of Transactions with Key Management Personnel [Abstract] | ||||||
Key Management Remuneration | $ 299,382 | $ 1,079,324 | $ 3,572,602 | $ 1,148,206 | $ 259,035 | $ 116,481 |
Director Professional fees | 487,885 | 898,640 | 121,467 | 121,970 | ||
Short term accommodation expense | 69,521 | 45,482 | 26,264 | |||
Total | $ 299,382 | $ 1,567,209 | $ 4,471,242 | $ 1,217,727 | $ 425,984 | $ 264,715 |
Financial instruments (Detail_3
Financial instruments (Details) - Schedule of Financial Instruments - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Trade And Other Payables [Member] | Level 2 of fair value hierarchy [member] | ||||
Financial assets measured at amortized cost: | ||||
Financial assets | $ 8,460,194 | $ 7,139,817 | $ 680,328 | $ 183,895 |
Financial assets, at fair value | 8,460,194 | 7,139,817 | 680,328 | 183,895 |
Loans And Borrowings [Member] | Level 2 of fair value hierarchy [member] | ||||
Financial assets measured at amortized cost: | ||||
Financial assets | 4,941,318 | 3,568,896 | 432,201 | 6,240,713 |
Financial assets, at fair value | 4,941,318 | 3,568,896 | 432,201 | 6,240,713 |
Lease liabilities [member] | Level 2 of fair value hierarchy [member] | ||||
Financial assets measured at amortized cost: | ||||
Financial assets | 245,096 | 330,821 | 2,418,706 | 2,882,152 |
Financial assets, at fair value | 245,096 | 330,821 | 2,418,706 | 2,882,152 |
Secured convertible debenture | Level 2 of fair value hierarchy [member] | ||||
Financial assets measured at amortized cost: | ||||
Financial assets | 6,716,190 | |||
Financial assets, at fair value | 6,716,190 | |||
At fair value [member] | Trade And Other Payables [Member] | Level 2 of fair value hierarchy [member] | ||||
Financial assets measured at amortized cost: | ||||
Financial assets, at fair value | 680,328 | |||
At fair value [member] | Loans And Borrowings [Member] | Level 2 of fair value hierarchy [member] | ||||
Financial assets measured at amortized cost: | ||||
Financial assets, at fair value | 432,210 | |||
At fair value [member] | Lease liabilities [member] | Level 2 of fair value hierarchy [member] | ||||
Financial assets measured at amortized cost: | ||||
Financial assets, at fair value | 2,418,706 | |||
At fair value [member] | Secured convertible debenture | Level 2 of fair value hierarchy [member] | ||||
Financial assets measured at amortized cost: | ||||
Financial assets, at fair value | 6,716,190 | |||
Cash [Member] | Level 1 of fair value hierarchy [member] | ||||
Financial assets measured at amortized cost: | ||||
Financial assets | 443,338 | 228,794 | 3,495,390 | 13,504 |
Financial assets, at fair value | 443,338 | 228,794 | 3,495,390 | 13,504 |
Cash [Member] | At fair value [member] | Level 1 of fair value hierarchy [member] | ||||
Financial assets measured at amortized cost: | ||||
Financial assets, at fair value | 3,495,390 | |||
Trade receivables [member] | Level 2 of fair value hierarchy [member] | ||||
Financial assets measured at amortized cost: | ||||
Financial assets | 657,568 | 1,235,619 | 242,357 | |
Financial assets, at fair value | $ 657,568 | $ 1,235,619 | 242,357 | |
Trade receivables [member] | At fair value [member] | Level 2 of fair value hierarchy [member] | ||||
Financial assets measured at amortized cost: | ||||
Financial assets, at fair value | $ 242,357 |
Risks Arising from Financial _6
Risks Arising from Financial Instruments and Risk Management (Details) - Schedule of Foreign Currency Denominated Financial Assets and Liabilities - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Trade and other payables [member] | GBP [Member] | ||
Financial assets | ||
Financial assets and liabilities | $ 239,763 | |
Trade and other payables [member] | CAD [Member] | ||
Financial assets | ||
Financial assets and liabilities | 234,711 | |
Financial liabilities at amortised cost, class [member] | GBP [Member] | ||
Financial assets | ||
Financial assets and liabilities | 239,763 | |
Financial liabilities at amortised cost, class [member] | CAD [Member] | ||
Financial assets | ||
Financial assets and liabilities | 234,711 | |
Financial liabilities at amortised cost, class [member] | LSL [Member] | ||
Financial assets | ||
Financial assets and liabilities | 46,811,903 | |
Lease liabilities [member] | LSL [Member] | ||
Financial assets | ||
Financial assets and liabilities | 38,965,352 | |
Loans And Borrowings [member] | LSL [Member] | ||
Financial assets | ||
Financial assets and liabilities | 7,846,551 | |
Cash [member] | GBP [Member] | ||
Financial assets | ||
Financial assets and liabilities | 2,577,674 | |
Cash [member] | LSL [Member] | ||
Financial assets | ||
Financial assets and liabilities | 321,646 | |
Trade receivables [member] | GBP [Member] | ||
Financial assets | ||
Financial assets and liabilities | 30,983 | 344 |
Trade receivables [member] | CAD [Member] | ||
Financial assets | ||
Financial assets and liabilities | 255,880 | |
Financial assets at amortised cost, class [member] | GBP [Member] | ||
Financial assets | ||
Financial assets and liabilities | 2,608,657 | |
Financial assets at amortised cost, class [member] | CAD [Member] | ||
Financial assets | ||
Financial assets and liabilities | 255,880 | |
Financial assets at amortised cost, class [member] | LSL [Member] | ||
Financial assets | ||
Financial assets and liabilities | $ 323,667 |
Determination of Fair Values (D
Determination of Fair Values (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Biological assets [member] | |
Determination of Fair Values (Details) [Line Items] | |
Biological assets valued per gram | 0.15 |
Segmented Info (Details) - Sche
Segmented Info (Details) - Schedule of Information about the Assets, Liabilities and Profit or Loss From Each Segment - USD ($) | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Cultivation Segment [Member] | ||||||
Segmented Info (Details) - Schedule of Information about the Assets, Liabilities and Profit or Loss From Each Segment [Line Items] | ||||||
Reportable segment assets | $ 4,127,138 | $ 4,253,676 | ||||
Reportable segment liabilities | 3,020,730 | 9,305,736 | ||||
Revenues from external customers | $ 1,268,702 | $ 57,516 | $ 2,517,904 | |||
Intersegment revenues | ||||||
Other revenue | ||||||
Other income | 107,110 | |||||
Finance income | 26,659 | 10,187 | 399 | |||
Finance expense | 1,082,372 | 645,162 | 493,807 | |||
Depreciation & amortization | 2,045,307 | 1,511,138 | 308,544 | 248,743 | 198,824 | |
Reportable segment loss | (3,747,034) | (5,331,600) | (2,298,310) | (1,394,611) | ||
Distribution Segment [Member] | ||||||
Segmented Info (Details) - Schedule of Information about the Assets, Liabilities and Profit or Loss From Each Segment [Line Items] | ||||||
Reportable segment assets | 3,716,771 | 19,664 | ||||
Reportable segment liabilities | 323,129 | 1,024 | ||||
Revenues from external customers | 128,741 | 15,580 | 101,778 | 41,431 | 2,062 | |
Intersegment revenues | ||||||
Other revenue | ||||||
Other income | 8,974 | 55 | ||||
Finance income | 20 | 747 | 90 | 1 | 2 | |
Finance expense | ||||||
Depreciation & amortization | 1,898 | 478 | ||||
Reportable segment loss | (1,775,923) | (2,261) | (30) | |||
Corporate Segment [Member] | ||||||
Segmented Info (Details) - Schedule of Information about the Assets, Liabilities and Profit or Loss From Each Segment [Line Items] | ||||||
Reportable segment assets | 205,797 | |||||
Reportable segment liabilities | 6,899,644 | |||||
Revenues from external customers | ||||||
Intersegment revenues | ||||||
Other revenue | ||||||
Other income | 51,659 | |||||
Finance income | ||||||
Finance expense | 10,509 | |||||
Depreciation & amortization | 102,840 | |||||
Reportable segment loss | (1,019,823) | |||||
Reportable segments [member] | ||||||
Segmented Info (Details) - Schedule of Information about the Assets, Liabilities and Profit or Loss From Each Segment [Line Items] | ||||||
Reportable segment assets | 8,043,909 | 4,273,340 | ||||
Reportable segment liabilities | 10,243,143 | 9,306,760 | ||||
Revenues from external customers | 1,397,443 | 73,096 | $ 2,619,682 | 41,431 | 2,062 | |
Intersegment revenues | ||||||
Other revenue | ||||||
Other income | 167,743 | 55 | ||||
Finance income | 20 | 747 | 26,749 | 10,188 | 401 | |
Finance expense | 1,092,881 | 645,162 | 493,807 | |||
Depreciation & amortization | 2,150,045 | 1,511,138 | 309,022 | 248,743 | 198,824 | |
Reportable segment loss | $ (3,747,034) | $ (8,127,347) | $ (2,300,571) | $ (1,394,641) |
Segmented Info (Details) - Sc_2
Segmented Info (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities - USD ($) | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Cultivation Segment [Member] | ||||||
Segmented Info (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Total revenues | $ 1,268,702 | $ 57,516 | $ 2,517,904 | |||
Net loss | (3,223,676) | (5,744,346) | ||||
Loss before income tax expense | 3,974,069 | (5,331,601) | ||||
Total assets | 4,127,138 | 4,253,676 | ||||
Total liabilities | 7,375,430 | 6,961,243 | 3,020,730 | 9,305,736 | ||
Cultivation Segment [Member] | Operating segments [member] | ||||||
Segmented Info (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Total revenues | 1,268,702 | 57,516 | 2,517,904 | |||
Net loss | (3,223,676) | 9,491,380 | (5,331,600) | (2,298,310) | (1,394,611) | |
Total assets | 4,127,138 | 4,253,676 | ||||
Total liabilities | 17,477,967 | 16,032,790 | 10,602,945 | 9,305,736 | ||
Cultivation Segment [Member] | Elimination of intersegment amounts [member] | ||||||
Segmented Info (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Total revenues | ||||||
Net loss | ||||||
Loss before income tax expense | (2,298,310) | |||||
Total assets | ||||||
Total liabilities | (10,102,537) | (9,071,547) | (7,582,575) | |||
Cultivation Segment [Member] | Other Profit Or Loss [Member] | ||||||
Segmented Info (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Net loss | ||||||
Cultivation Segment [Member] | Loss Before Income Tax Expense [Member] | ||||||
Segmented Info (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Net loss | (3,223,676) | 9,491,380 | ||||
Loss before income tax expense | (5,331,600) | (1,394,611) | ||||
Cultivation Segment [Member] | Other assets [member] | ||||||
Segmented Info (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Total assets | ||||||
Cultivation Segment [Member] | Other Liability [Member] | ||||||
Segmented Info (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Total liabilities | ||||||
Distribution Segment [Member] | ||||||
Segmented Info (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Total revenues | 128,741 | 15,580 | 101,778 | 41,431 | 2,062 | |
Net loss | (337,238) | (6,867,849) | ||||
Loss before income tax expense | (8,089,036) | (1,775,923) | ||||
Total assets | 3,716,771 | 19,664 | ||||
Total liabilities | 1,214,129 | 1,146,980 | 323,129 | 1,024 | ||
Distribution Segment [Member] | Operating segments [member] | ||||||
Segmented Info (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Total revenues | 128,741 | 15,580 | 101,778 | 41,431 | 2,062 | |
Net loss | (337,238) | (6,867,849) | (1,775,923) | (2,261) | (30) | |
Total assets | 4,082,801 | 19,664 | ||||
Total liabilities | 30,917,933 | 29,335,641 | 5,437,189 | 1,024 | ||
Distribution Segment [Member] | Elimination of intersegment amounts [member] | ||||||
Segmented Info (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Total revenues | ||||||
Net loss | ||||||
Loss before income tax expense | (2,261) | |||||
Total assets | (366,030) | |||||
Total liabilities | (29,703,804) | (28,188,661) | (5,114,060) | |||
Distribution Segment [Member] | Other Profit Or Loss [Member] | ||||||
Segmented Info (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Net loss | ||||||
Distribution Segment [Member] | Loss Before Income Tax Expense [Member] | ||||||
Segmented Info (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Net loss | (337,238) | (6,867,849) | ||||
Loss before income tax expense | (1,775,923) | (30) | ||||
Distribution Segment [Member] | Other assets [member] | ||||||
Segmented Info (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Total assets | ||||||
Distribution Segment [Member] | Other Liability [Member] | ||||||
Segmented Info (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Total liabilities | ||||||
Corporate Segment [Member] | ||||||
Segmented Info (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Total revenues | ||||||
Net loss | (2,316,968) | (1,470,241) | ||||
Loss before income tax expense | (7,542,707) | (1,023,673) | ||||
Total assets | 200,000 | |||||
Total liabilities | 6,268,954 | 3,988,393 | 6,899,644 | |||
Corporate Segment [Member] | Operating segments [member] | ||||||
Segmented Info (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Total revenues | ||||||
Net loss | (2,316,968) | (1,470,241) | (1,019,823) | |||
Total assets | 26,025,848 | |||||
Total liabilities | (24,557,990) | (26,121,029) | 6,899,644 | |||
Corporate Segment [Member] | Elimination of intersegment amounts [member] | ||||||
Segmented Info (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Total revenues | ||||||
Net loss | ||||||
Loss before income tax expense | ||||||
Total assets | (25,825,848) | |||||
Total liabilities | 30,826,944 | 30,109,422 | ||||
Corporate Segment [Member] | Other Profit Or Loss [Member] | ||||||
Segmented Info (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Net loss | ||||||
Corporate Segment [Member] | Loss Before Income Tax Expense [Member] | ||||||
Segmented Info (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Net loss | (2,316,968) | (1,470,241) | ||||
Loss before income tax expense | (1,019,823) | |||||
Corporate Segment [Member] | Other assets [member] | ||||||
Segmented Info (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Total assets | ||||||
Corporate Segment [Member] | Other Liability [Member] | ||||||
Segmented Info (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Total liabilities | ||||||
Reportable segments [member] | ||||||
Segmented Info (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Total revenues | 1,397,443 | 73,096 | 2,619,682 | 41,431 | 2,062 | |
Net loss | (5,877,882) | (2,593,744) | ||||
Loss before income tax expense | (11,657,674) | (8,131,197) | ||||
Total assets | 8,043,909 | 4,273,340 | ||||
Total liabilities | 14,858,513 | 12,096,616 | 10,243,144 | 9,306,760 | ||
Reportable segments [member] | Operating segments [member] | ||||||
Segmented Info (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Total revenues | 1,397,443 | 73,096 | 2,619,682 | 41,431 | 2,062 | |
Net loss | (5,877,882) | 1,153,290 | (8,127,347) | (2,300,571) | (1,394,641) | |
Total assets | 34,235,787 | 4,273,340 | ||||
Total liabilities | 23,837,910 | 19,247,402 | 22,939,779 | 9,306,760 | ||
Reportable segments [member] | Elimination of intersegment amounts [member] | ||||||
Segmented Info (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Total revenues | ||||||
Net loss | ||||||
Loss before income tax expense | (2,300,571) | |||||
Total assets | (26,191,878) | |||||
Total liabilities | (8,979,397) | $ (7,150,786) | (12,696,635) | |||
Reportable segments [member] | Other Profit Or Loss [Member] | ||||||
Segmented Info (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Net loss | ||||||
Reportable segments [member] | Loss Before Income Tax Expense [Member] | ||||||
Segmented Info (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Net loss | $ (5,877,882) | $ 1,153,290 | ||||
Loss before income tax expense | (8,127,347) | $ (1,394,641) | ||||
Reportable segments [member] | Other assets [member] | ||||||
Segmented Info (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Total assets | ||||||
Reportable segments [member] | Other Liability [Member] | ||||||
Segmented Info (Details) - Schedule of Reconciliations of Each Reportable Segment’s Revenues, Profit or Loss, Assets and Liabilities [Line Items] | ||||||
Total liabilities |