Income taxes (Tables)
|
12 Months Ended |
Dec. 31, 2019 |
|---|
| Statement [Line Items] |
|
| Schedule of Reconciliation of Combined Federal and Provincial Corporate Income Taxes |
A reconciliation of combined federal and provincial corporate income taxes at the Company’s effective tax rate of 26.5 % (201 8 - 26.5 %).
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December 31, 201 9
|
|
|
December 31, 201 8
|
|
Net Loss before income taxes |
|
$ |
(41,907,079 |
) |
|
$ |
(22,639,272 |
) |
Income taxes at statutory rates |
|
$ |
(11,105,376 |
) |
|
$ |
(5,999,407 |
) |
Tax effect of expenses not deductible for income tax purposes: |
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|
|
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|
Tax/FX rate changes and other adjustments |
|
|
— |
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|
|
— |
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|
|
|
(4,800,780 |
) |
|
|
(4,374,564 |
) |
Unrecognized share issue costs |
|
|
(625,220 |
) |
|
|
(354,072 |
) |
Tax/foreign currency rate changes and other adjustments |
|
|
93,724 |
|
|
|
— |
|
| |
|
|
|
|
|
|
|
|
|
|
|
(16,437,652 |
) |
|
|
(10,728,043 |
) |
Tax recovery not recognized |
|
|
16,437,652 |
|
|
|
10,728,043 |
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| |
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|
|
|
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| |
|
$ |
— |
|
|
$ |
— |
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| |
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| Schedule of Deferred Income Tax Assets and Liabilities |
Deferred income tax assets and liabilities result primarily from differences in recognition of certain timing differences that give rise to the Company’s future tax assets (liabilities) and are as follows:
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December 31, 201 9
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|
December 31, 201 8
|
|
|
|
$ |
63,740,497 |
|
|
$ |
47,679,897 |
|
Qualifying Research and Development expenditures |
|
|
1,493,309 |
|
|
|
1,493,309 |
|
Share issue costs and other |
|
|
1,999,584 |
|
|
|
1,622,533 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
67,233,390 |
|
|
|
50,795,739 |
|
Tax assets not recognized |
|
|
(67,233,390 |
) |
|
|
(50,795,739 |
) |
| |
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$ |
— |
|
|
$ |
— |
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| |
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| Schedule of Non-Capital Losses |
The Company has non-capital losses of approximately $ 240,594,715 available to reduce future income taxes. The non-capital losses expire approximately as follows:
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|
|
|
|
2027 |
|
$ |
786,557 |
|
2028 |
|
|
169,954 |
|
2029 |
|
|
186,708 |
|
2030 |
|
|
2,003,594 |
|
2031 |
|
|
12,735,836 |
|
2032 |
|
|
7,260,729 |
|
2033 |
|
|
8,856,497 |
|
2034 |
|
|
15,819,741 |
|
2035 |
|
|
43,934,918 |
|
2036 |
|
|
28,310,254 |
|
2037 |
|
|
19,604,159 |
|
2038 |
|
|
40,255,192 |
|
|
|
|
60,670,576 |
|
| |
|
|
|
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|
$ |
240,594,715 |
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