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

​

​

​

$

—

​

$

—

​