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)

v3.21.1
Income tax recovery and deferred tax assets and liabilities (Tables)
12 Months Ended
Dec. 31, 2020
Income tax recovery and deferred tax assets and liabilities  
Schedule of reconciliation of expected to the actual income tax recovery

 

 

 

 

 

 

 

 

 

 

 

 

    

31-Dec-20

    

31-Dec-19

    

31-Dec-18

 

Loss before tax

 

$

(63,079,457)

 

$

(23,291,823)

 

$

(7,746,599)

 

Statutory tax rate

 

 

27

%  

 

27

%  

 

27

%

Expected income tax recovery at the statutory tax rate

 

 

(17,031,453)

 

 

(6,288,792)

 

 

(2,091,582)

 

Lower rate on foreign subsidiaries

 

 

48,161

 

 

13,932

 

 

 —

 

Change in estimates

 

 

(115,603)

 

 

141,562

 

 

 —

 

Non-deductible items

 

 

10,299,823

 

 

1,920,654

 

 

(933,010)

 

Share issue costs and other

 

 

(1,372,262)

 

 

(281,953)

 

 

(748,188)

 

Temporary differences not recognized

 

 

8,138,782

 

 

4,415,472

 

 

3,771,494

 

Income tax recovery

 

 

(32,552)

 

 

(79,125)

 

 

(1,286)

 

 

Schedule of deductible (taxable) temporary differences

 

 

 

 

 

 

 

 

 

 

 

    

31-Dec-20

    

31-Dec-19

    

31-Dec-18

Non-capital loss carry-forwards

 

$

63,213,473

 

$

35,846,498

 

$

18,638,208

Property, plant and equipment

 

 

1,845,332

 

 

339,632

 

 

243,969

Share issue costs

 

 

6,774,934

 

 

3,757,068

 

 

3,662,916

SR&ED expenditures

 

 

2,941,082

 

 

2,430,941

 

 

1,718,657

ROU Assets

 

 

(927,331)

 

 

(1,077,556)

 

 

 —

Lease libiltiy

 

 

1,075,773

 

 

1,129,249

 

 

 —

Net Investment Assets

 

 

(38,541)

 

 

 —

 

 

 —

Other

 

 

(374,454)

 

 

(270,395)

 

 

(303,327)

 

 

 

74,510,268

 

 

42,155,437

 

 

23,960,423

Deferred tax assets not recognized

 

 

(74,510,268)

 

 

(42,277,892)

 

 

(24,369,388)

Deferred tax liability

 

 

 —

 

 

(122,455)

 

 

(408,965)

Deferred tax liability (tax effected at 27%)

 

$

 —

 

$

(33,063)

 

$

(110,420)