Amortization expense decreased from C$448,697 in 2018, to C$253,735 in 2019, as
the Company re-measured the residual value guarantee associated with the vehicle leases, resulting a reduction of C$307,072 to the right of use asset.
Consulting fees increased
from C$815,060 in 2018, to C$860,248 in 2019, due to additional billing from insiders and outside consultants as a result of more time required to expand business.
Foreign exchange costs increased from C$1,029 in 2018, to C$12,243 in 2019, due to increase in the U.S. dollar against the Canadian dollar.
Interest expense decreased from C$135,849 in 2018, to C$56,812 in 2019, due to an interest reduction as a result of lease adjustment resulting from the application of IFRS 16.
Professional
fees increased from C$119,713 in 2018, to C$124,550 in 2019, due to due to increase in accounting and legal fees as a result of more services required by
the Company due to an increase in the business activity.
Regulatory and filing fees increased from C$27,654 in 2018, to C$48,924 in 2019, due to an increase in charges associated with the issuance of shares.
Travel and accommodation expenses decreased from C$97,328 in 2018, to C$62,459 in 2019, due to a significant decrease in travel as a result of COVID-19.
Salaries
increased from no salaries in 2018, to C$358,074 in 2019, related to expansion into Alberta, Saskatoon and Toronto.
Office and miscellaneous expenses increased from C$522,194 in 2018, to C$970,019 in 2019, due to increased company activity and expansion into Alberta province, Saskatoon and Toronto.
In 2018
the Company recorded an impairment of marketable securities of C$300,000 compared to none in 2019.
Net
loss
The Company had a net loss of C$4,498,228 in 2019 compared to C$3,818,453 in 2018, primarily due to an increase in marketing and promotional expenses as a result of increased promotional activities.
Year 2018 compared to year 2017
Revenue
Revenue
increased from C$373,655 in 2017 to C$3,369,630 in 2018, primarily due to an increase in delivery routes with Amazon.
Expenses
Amortization expense increased from C$55,686 in 2017 to C$ 448,697 in 2018, due to
the Company entering into lease agreements to increase the delivery fleet by a total of 18 vehicles to meet the delivery demand for Amazon.
Consulting fees increased from C$557,029 in 2017 to C$815,060
in 2018 due to an increased number of consultants in the period.
Foreign exchange expense increased from C$30 in 2017, to C$1,029 in 2018, due to more foreign exchange requirements.
Interest expense increased from C$6,072 in 2017, to C$135,849 in 2018, due to an increase in leased vehicles.
The Company entered into lease agreements to increase the delivery fleet by a total of 18 vehicles to meet the delivery demand for Amazon.
Investor
relations increased C$42,028 in 2017 to C$470,394 in 2018, due to increased promotional activities.
Management fees decreased from C$27,500 in 2017 to C$108,000 in 2018, due to decreased fees to officers in
the Company.
Office and miscellaneous expense increased from C$215,610 in 2017, to C$522,194 in 2018, due to due to increased company activity and expansion into Alberta province, Saskatoon and Toronto.