| TAXES |
13. TAXES
|
|
|
|
Year ended December 31, |
| |
|
|
2021 |
|
|
2020 |
|
|
2019 |
| |
|
|
$ |
|
|
$ |
|
|
$ |
| |
Net loss before income taxes |
|
|
(14,802 |
) |
|
|
(24,185 |
) |
|
|
(41,907 |
) | |
Statutory Canadian corporate tax rate |
|
|
26.5 |
% |
|
|
26.5 |
% |
|
|
26.5 |
% | |
Anticipated tax recovery |
|
|
(3,923 |
) |
|
|
(6,409 |
) |
|
|
(11,105 |
) | |
Share-base compensation |
|
|
972 |
|
|
|
291 |
|
|
|
438 |
| |
Change in fair value of warrant derivative |
|
|
(4,162 |
) |
|
|
7,382 |
|
|
|
(5,247 |
) | |
Other permanent differences |
|
|
102 |
|
|
|
(153 |
) |
|
|
(617 |
) | |
Foreign jurisdiction tax rate difference |
|
|
(16 |
) |
|
|
(50 |
) |
|
|
94 |
| |
Benefit from deductible temporary differences not recognized |
|
|
7,083 |
|
|
|
(1,061 |
) |
|
|
16,437 |
| |
Income tax expense |
|
|
56 |
|
|
|
- |
|
|
|
- |
| |
Current income tax expense |
|
|
- |
|
|
|
- |
|
|
|
- |
| |
Deferred income tax expense |
|
|
56 |
|
|
|
- |
|
|
|
- |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
A deferred income tax asset has not been recognized for certain temporary differences that may be available to reduce income subject to tax in a taxation period subsequent to the year covered by these Consolidated Financial Statements. The temporary differences that have not been recognized in the Consolidated Statements of Financial Position or Consolidated Statements of Net Loss and Comprehensive Loss are identified below:
|
|
|
December 31, 2021 |
|
|
December 31, 2020 |
| |
|
|
$ |
|
|
$ |
| |
Non-capital loss carryforwards |
|
|
262,419 |
|
|
|
236,883 |
| |
Scientific Research Experimental Development ("SRED") credits |
|
|
5,635 |
|
|
|
5,635 |
| |
Share issuance cost |
|
|
3,579 |
|
|
|
3,579 |
| |
Excess carry value of capital assets over book |
|
|
3,570 |
|
|
|
3,474 |
| |
|
|
|
275,203 |
|
|
|
249,571 |
|
As at December 31, 2021, the Company has non-capital losses of $262,419 for Canadian federal and Ontario provincial purposes that are available to offset future taxable income. These non-capital losses expire as follows:
|
Year of Expiry |
Amount
$ | |
2031 |
|
6,534 | |
2032 |
|
10,455 | |
2033 |
|
10,210 | |
2034 |
|
13,784 | |
2035 |
|
43,935 | |
2036 |
|
28,261 | |
2037 |
|
19,604 | |
2038 |
|
40,240 | |
2039 |
|
60,719 | |
2041 |
|
28,677 | |
|
|
262,419
|
|