Entity information:

Income taxes

 

The provision for income taxes differs from the amounts which would be provided by applying the statutory United States Federal corporate income tax rate of approximately 34% for the years ended February 28, 2017 and February 29, 2016 as follows:

 

Income tax recovery

 

    Year ended
February 28,
2017		     Year ended
February 29,
2016		  
    $     $  
Net loss before income taxes     (42,323,920 )     (1,075,857 )
                 
Expected income tax recovery from net loss     (14,390,133 )     (365,791 )
Non-deductible expenses     13,873,614       -  
Change in valuation allowance     516,519       365,791  
      -       -  

 

Deferred tax asset

 

    Year ended
February 28,
2017		     Year ended
February 29,
2016		  
    $     $  
Non-capital loss carry forwards     (1,982,275 )     (1,465,757 )
Change in valuation allowance     1,982,275       1,465,757  
      -       -  

  

As of February 28, 2017 and February 29, 2016, the Company determined that a valuation allowance relating to above deferred tax asset of the Company was necessary. This determination was based largely on the negative evidence represented by the losses incurred. The Company decided not to recognize any deferred tax asset, as it is not more likely than not to be realized. Therefore, a valuation allowance of $1,982,275 and $1,465,757, for the years ended February 28, 2017 and February 29, 2016, respectively, was recorded to offset deferred tax assets.

 

As of February 28, 2017 and February 29, 2016, the Company has approximately $5,830,222 and $4,311,049, respectively, of non-capital losses available to offset future taxable income.

 

As of February 28, 2017 and February 29, 2016, the Company is not subject to any uncertain tax positions.