For the year ended December 31, 2017				For the year ended December 31, 2016
Loss before income taxes		$	(8,065,072	)		$	(5,740,492	)
Expected income tax expense (recovery)			(2,177,570	)			(1,549,930	)
Difference in foreign tax rates			(297,460	)			(162,210	)
Tax rate changes and other adjustments			808,260				(43,960	)
Stock based compensation and non-deductible expenses			236,350				398,930
Change in valuation allowance			1,430,420				1,357,170
Total income tax expense		$	-			$	-

 

 

Deferred Tax Assets		2017				2016
Property, plant and equipment		$	157,920			$	-
Intangible assets			90				104,340
Intangible assets transferred on amalgamation			-				14,980
Share issuance costs			89,970				23,120
Reserves			14,030				7,760
Non-capital losses carried forward - Canada			1,762,250				973,670
Net operating losses carried forward - US			1,289,100				887,890
Investment Tax Credits			87,200				42,200
Total deferred tax assets		$	3,400,560			$	2,053,960
Deferred Tax Liabilities
Property and equipment			(57,370	)			(59,680	)
Intangible assets			-				(520	)
Total deferred tax liabilities		$	(57,370	)		$	(60,200	)
Valuation allowance		$	3,343,190			$	1,993,760
Net deferred tax asset		$	-			$	-

 

deferred tax asset has been recognized, as it is more likely than to be realized. Consequently, a valuation allowance has been applied against the net deferred tax asset. The Canadian non-capital loss carry forwards expire as noted in the table below.

 

2035			465,790
2036			1,945,020
2037			4,116,040
		$	6,526,850

 

2035			856,300
2036			1,484,640
2037			2,667,240
		$	5,008,180