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, 2021

Selling General And Administrative Expense [Abstract]

21	General and administrative

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

	Year ended February 28, 2021		Year ended February 29, 2020		Year ended February 28, 2019
	US$		US$		US$
Management fees		1,721,830		915,000		918,353
Legal fees		5,263,332		36,032		—
Professional fees		1,015,413		86,693		25,358
Consultancy fees		771,314		68,500		43,609
Staff cost		5,185,095		325,598		—
Travelling expenses		70,237		4,567		87,884
Depreciation of right-of-use assets		115,931		—		—

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 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.