Company: MMTIF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001062993-25-003888
Chunk: 90

Company: MICROMEM TECHNOLOGIES INC
Filing Date: 2025-02-28
Form: 20-F
Item: Item 18
Chunk 90
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Conversion price defined as 75% multiplied by the average of the lowest 3 closing stock prices for the 10 trading days prior to conversion date.
(ii)Conversion price defined as 75% multiplied by the lowest stock price for the 20 trading days prior to conversion date.
(b)Comparative information presented in the consolidated financial statements
Convertible debentures outstanding as at October 31, 2023:
*Denominated in CAD USD (equity CAD (embedded USD (embedded
component) derivative) derivative) Total
──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
Loan principal outstanding $ 1,261,265 2,146,715 $ 405,001
Terms of loan
Annual stated interest rate 24.00% 12% - 24% 2% - 4%
Effective annual interest rate 24% 22 - 131% 24% - 5158%
Conversion price to common shares $ 0.03 - $ 0.04 $ 0.05 - $ 0.10 (i) - (ii)
Remaining life (in months) 0 - 4 0 - 11 0 - 11
Consolidated Statement of Financial Position
Carrying value of loan principal $ 1,261,265 1,499,667 $ 77,238 2,838,170
Interest payable 344,993 334,511 30,385 709,889
Convertible debentures $ 1,606,258 $ 1,834,178 $ 107,623 3,548,059
Derivative liabilities $ - $ 783,650 $ 295,743 1,079,393
Equity component of convertible debentures $ 3,220,473 $ - $ - 3,220,473
(i)Conversion price defined as 75% multiplied by the average of the lowest 3 closing stock prices for the 10 trading days prior to conversion date.
(ii)Conversion price defined as 75% multiplied by the lowest stock price for the 20 trading days prior to conversion date.
For the year ended October 31, 2023:
USD (equity CAD (embedded USD (embedded
component) derivative) derivative) Total
────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
Consolidated Statement of Operations and Comprehensive Loss