Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.7.0.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2016
Income Taxes Tables  
Reconciliation of the provision for income taxes

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:

 

   

2016

$

   

2015

$

 
             
Net loss     (11,905,278 )     (9,530,242 )
Tax adjustments     904,807       755,551  
Estimated net operating losses     (11,000,471 )     (8,774,691 )
                 
Tax rate     28 %     26 %
                 
Income tax recovery at statutory rate     (3,061,493 )     (2,306,549 )
                 
Valuation allowance     3,061,493       2,306,549  
                 
Refund received re previous tax year     -       (4,604 )
Provision for income taxes     -       4,604  

Summary of Deferred income taxes and assets

The significant components of deferred income taxes and assets as at December 31, 2016 are as follows:

 

   

2016

$

   

2015

$

 
             
Net operating losses carried forward     8,806,016       5,792,392  
                 
Valuation allowance     (8,806,016 )     (5,792,392 )
                 
Net deferred income tax asset     -       -