Triterras, Inc. 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)

General and administrative

General and administrative

12 Months Ended

Feb. 28, 2022

Selling General And Administrative Expense [Abstract]

23	General and administrative

The following items have been included in arriving at general and administrative:

	Year ended February 28, 2022		Year ended February 28, 2021		Year ended February 29, 2020
	US$		US$		US$
Management fees		—		1,721,830		915,000
Legal fees		9,920,230		5,263,332		36,032
Professional fees		761,240		1,015,413		86,693
Consultancy fees		2,843,442		771,314		68,500
Staff cost		10,631,740		5,185,095		325,598
Directors and committee fees		1,549,429
Insurance		3,883,411
Travelling expenses		324,614		70,237		4,567
IT expenses		155,711
Depreciation of property, plant and equipments		605,424		147,295		—

Management fees relate to staff costs, accounting and administrative support services and office space recharges from related parties.

Government grants received is offset against staff cost during the financial year. Government grants received during the financial year ended February 28, 2021 are the Jobs Support Scheme (“JSS”) and Wages Credit Scheme (“WCS”) amounting to US$72,832 and US$1,627, respectively. The JSS is a temporary scheme introduced in the Singapore Budget 2020 to help enterprises retain local employees. Under the JSS, employers will receive cash grants in relation to the gross monthly wages of eligible employees. WCS is introduced to support businesses embarking on transformation efforts and encourage sharing of productivity gains with workers.