Genius Group Limited Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

RIGHT OF USE ASSET AND LEASE LIABILITY (Tables)

RIGHT OF USE ASSET AND LEASE LIABILITY (Tables)

12 Months Ended

Dec. 31, 2021

RIGHT OF USE ASSET AND LEASE LIABILITY

Summary of carrying amounts of right-of-use assets


		As of December 31,
		2021			2020
Right of use asset – buildings		$	1,378,312		$	1,378,312
Right of use asset – office space			58,412			58,412
Right of use asset – leaseholds			992,410			992,410
Foreign currency translation			(117,959)			(39,007)
Accumulated depreciation on right of use assets			(1,233,934)			(726,246)
Right of use asset, net .		$	1,077,241		$	1,663,881

Summary of maturity analysis of lease liabilities


		As of December 31,
		2021			2020
Within one year		$	436,270		$	545,132
Two to five years			298,594			660,034
Thereafter			9,007,645			9,924,141
			9,742,509			11,129,307
Less: finance charges component			(8,411,649)			(9,276,243)
		$	1,330,860		$	1,853,064
Lease liabilities, current		$	436,271		$	545,132
Lease liabilities, non-current			894,589			1,307,932
		$	1,330,860		$	1,853,064