Income taxes (Tables)
|
12 Months Ended |
Dec. 31, 2018 |
|---|
| Statement [LineItems] |
|
| 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%
(2017 – 26.5%).
|
|
|
|
|
|
|
|
|
| |
|
December 31, 2018 |
|
|
December 31, 2017 |
|
|
Net Loss before income taxes
|
|
$ |
(22,639,272 |
) |
|
$ |
(33,586,984 |
) |
|
Income taxes at statutory rates
|
|
$ |
(5,999,407 |
) |
|
$ |
(8,900,551 |
) |
|
Tax effect of expenses not deductible for income tax purposes:
|
|
|
|
|
|
|
|
|
|
Tax/FX rate changes and other adjustments
|
|
|
— |
|
|
|
(27,053 |
) |
|
Permanent differences
|
|
|
(4,374,564 |
) |
|
|
3,975,072 |
|
|
Unrecognized share issue costs
|
|
|
(354,072 |
) |
|
|
(554,252 |
) |
|
|
|
|
|
|
|
|
|
|
Total tax recovery
|
|
|
(10,728,043 |
) |
|
|
(5,506,784 |
) |
|
Tax recovery not recognized
|
|
|
10,728,043 |
|
|
|
5,506,784 |
|
|
|
|
|
|
|
|
|
|
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
| Schedule of Deferred Income Tax Assets and Liabilities |
Deferred income tax assets and liabilities result primarily form
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, 2018 |
|
|
December 31, 2017 |
|
|
Non-Capital Losses
|
|
$ |
47,679,897 |
|
|
$ |
37,012,271 |
|
|
Qualifying Research and
|
|
|
|
|
|
|
|
|
|
Development expenditures
|
|
|
1,493,309 |
|
|
|
1,493,309 |
|
|
Share issue costs and other
|
|
|
1,622,533 |
|
|
|
1,562,116 |
|
|
|
|
|
|
|
|
|
|
|
Total tax assets
|
|
|
50,795,739 |
|
|
|
40,067,696 |
|
|
Tax assets not recognized
|
|
|
(50,795,739 |
) |
|
|
(40,067,696 |
) |
|
|
|
|
|
|
|
|
|
|
Net deferred tax assets
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
| Schedule of Non-Capital Losses |
The Company has non-capital losses of approximately
$179,924,139 available to reduce future income taxes. The
non-capital losses expire
approximately as follows:
|
|
|
|
|
|
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 |
|
|
|
|
|
|
|
|
$ |
179,924,139 |
|
|
|
|
|
|
|