Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Income tax recovery and deferred tax assets and liabilities (Tables)

v3.20.1
Income tax recovery and deferred tax assets and liabilities (Tables)
12 Months Ended
Dec. 31, 2019
Income tax recovery and deferred tax assets and liabilities  
Schedule of reconciliation of expected to the actual income tax recovery

 

 

 

 

 

 

 

 

 

 

 

 

    

December 31, 

 

December 31, 

 

December 31, 

 

 

    

2019

    

2018

    

2017

 

Loss before tax

 

$

(30,847,110)

 

$

(10,039,812)

 

$

(11,366,372)

 

Statutory tax rate

 

 

27

%  

 

27

%  

 

26

%

Expected income tax recovery at the statutory tax rate

 

 

(8,328,720)

 

 

(2,710,749)

 

 

(2,955,257)

 

Lower rate on foreign subsidiaries

 

 

18,451

 

 

 —

 

 

 —

 

Change in estimates

 

 

187,481

 

 

 —

 

 

 —

 

Non-deductible items

 

 

2,543,667

 

 

(1,209,207)

 

 

279,703

 

Share issue costs and other

 

 

(373,412)

 

 

(969,673)

 

 

256,445

 

Effect of change in tax rate

 

 

 —

 

 

 —

 

 

(149,561)

 

SR&ED expenditures

 

 

 —

 

 

 —

 

 

183,351

 

Temporary differences not recognized

 

 

5,847,734

 

 

4,887,962

 

 

2,385,319

 

Income tax recovery

 

$

(104,799)

 

$

(1,667)

 

$

 —

 

 

Schedule of deductible (taxable) temporary differences

 

 

 

 

 

 

 

 

 

 

 

    

December 31, 

 

December 31, 

 

December 31, 

 

    

2019

    

2018

    

2017

Non-capital loss carry-forwards

 

$

46,462,417

 

$

25,284,214

 

$

11,436,565

Plant and equipment

 

 

440,214

 

 

330,963

 

 

141,271

Share issue costs

 

 

4,869,721

 

 

4,969,038

 

 

1,983,154

SR&ED expenditures

 

 

3,150,863

 

 

2,331,495

 

 

1,397,672

ROU assets

 

 

(1,396,674)

 

 

 —

 

 

 —

Lease liabilities

 

 

1,463,675

 

 

 —

 

 

 —

Other

 

 

(350,473)

 

 

(411,487)

 

 

(558,000)

 

 

 

54,639,743

 

 

32,504,223

 

 

14,400,662

Deferred tax assets not recognized

 

 

(54,798,464)

 

 

(33,059,017)

 

 

(14,955,454)

Deferred tax liability

 

 

(158,721)

 

 

(554,794)

 

 

(554,794)

 

 

 

 

 

 

 

 

 

 

Deferred tax liability (tax effected at 27%)

 

$

(42,855)

 

$

(149,794)

 

$

(149,794)