Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.3.1.900
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2015
Income Taxes Tables  
Reconciliation of the provision for income taxes at the weighted average rate compared to the Companys income tax expense

The reconciliation of the provision for income taxes at the weighted average rate compared to the Company's income tax expense as reported is as follows:

 

   

2015

$

   

2014

$

 
             
Net loss     (9,530,242 )     (8,213,529 )
Tax adjustments     755,551       1,072,258  
Estimated net operating losses     (8,774,691 )     (7,141,271 )
                 
Tax rate     26 %     32 %
                 
Income tax recovery at statutory rate     (2,306,549 )     (2,247,408 )
                 
Valuation allowance     2,306,549       2,247,408  
                 
Refund received re previous tax year     (4,604 )      
Provision for income taxes     4,604        
Components of deferred income taxes and assets

The significant components of deferred income taxes and assets as at December 31, 2015 are as follows:

 

   

2015

$

   

2014

$

 
             
Net operating losses carried forward     5,792,392       4,295,152  
                 
Valuation allowance     (5,792,392 )     (4,295,152 )
                 
Net deferred income tax asset     -