Annual report [Section 13 and 15(d), not S-K Item 405]

INCOME TAXES (Tables)

v3.25.1
INCOME TAXES (Tables)
12 Months Ended
Dec. 31, 2024
INCOME TAXES  
Schedule of significant components of the deferred taxes

    

2024

    

2023

Non-capital losses carried forward

$

24,850,000

$

21,151,000

Research and development expenditures

 

3,175,000

 

3,246,000

Investment tax credits

 

2,043,000

 

2,088,000

Tax value of technology rights and property and equipment in excess of accounting basis

 

193,000

 

221,000

Share issue costs

 

1,275,000

 

1,019,000

Non-deductible reserves

10,000

Restricted interest and financing expenses

 

337,000

 

Total deferred income tax assets

 

31,883,000

 

27,725,000

Valuation allowance

 

(31,883,000)

 

(27,725,000)

Net deferred income tax assets

$

$

Schedule of reconciliation of the combined federal and provincial statutory income tax rate applied to the net loss for the year to the income tax recovery

    

2024

    

2023

 

Basic combined Canadian statutory income tax rate

 

26.5

%  

26.5

%

Income tax recovery based on statutory rate

$

719,000

$

(3,559,000)

Permanent differences

 

(4,808,000)

 

(157,000)

Share issue costs recorded, net of equity

 

(709,000)

 

(731,000)

Unrecognized benefit of current year tax losses

 

4,798,000

 

4,447,000

$

$