Company: MMTIF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001062993-25-003888
Chunk: 88

Company: MICROMEM TECHNOLOGIES INC
Filing Date: 2025-02-28
Form: 20-F
Item: Item 18
Chunk 88
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 rewards incidental to ownership of the asset.
For the year ended October 31, 2024, the Company recognized a total of $17,205(2023 - $17,682, 2022 - $19,076) as rental income which has been recorded as a reduction to general and administrative expenses on the consolidated statement of operations and comprehensive loss.
The following represents a maturity analysis of the Company's lease payments to be received after October 31, 2024:
USD
Less than one year $12,780

F-16

Micromem Technologies Inc.

Notes to Consolidated Financial Statements

For the years ended October 31, 2024, 2023, and 2022

(Expressed in United States dollars, unless otherwise noted)

11. Convertible debentures
The Company issues three types of convertible debentures: USD denominated convertible debentures with an equity component, Canadian dollar ("CAD") denominated convertible debentures with an embedded derivative due to variable consideration payable upon conversion caused by foreign exchange, and USD denominated convertible debentures with an embedded derivative caused by variable conversion prices.
During the year ended October 31, 2024, the Company incurred $63,263of financing costs (2023 - $86,352, 2022 - $21,000) which primarily consisted of early repayment and administrative fees, which are classified in loss of extinguishment of convertible debentures, of which $nil(2023 - $nil, 2022 - $nil) was converted into common shares.
(a)Current period information presented in the consolidated financial statements
Convertible debentures outstanding as at October 31, 2024:
*Denominated in CAD USD
(equity CAD (embedded USD (embedded
component) derivative) derivative) Total
Loan principal outstanding $ 1,413,245 $ 1,523,657 $ 231,250
Terms of loan
Annual stated interest rate 12 - 24% 12% - 24% 2% - 4%
Effective annual interest rate 24% 14 - 270% 24% - 176%
Conversion price to common shares $ 0.03 - $ 0.04 $ 0.05 - $ 0.10 (i) - (ii)
Remaining life (in months) 0 - 4 0 - 6 0 - 12
Consolidated Statement of Financial Position
Carrying value