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 Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
  
 
 
 
December 31,
2015
 
 
9 month period
ended December
31, 2014
 
 
 
 
$
 
 
$
 
Components of net loss before income taxes consists of the following:
 
 
 
 
 
 
 
U.S.
 
 
(2,372,510)
 
 
-
 
Canada
 
 
(3,221,396)
 
 
(2,464,747)
 
 
 
 
(5,593,906)
 
 
(2,464,747)
 
 
 
 
 
2015
 
 
 
2014
 
 
 
 
$
 
 
 
$
 
Net loss for the period before recovery of income taxes
 
 
(5,593,906)
 
 
 
(2,464,747)
 
 
 
 
 
 
 
 
 
 
Statutory rate
 
 
35
%
 
 
26.5
%
Expected income tax recovery
 
 
(1,957,867)
 
 
 
(653,158)
 
Tax rate changes and other basis adjustments
 
 
364,651
 
 
 
(29,109)
 
Stock-based compensation
 
 
587,381
 
 
 
-
 
Non-deductible expenses
 
 
57,625
 
 
 
193,305
 
Change in valuation allowance
 
 
948,210
 
 
 
488,962
 
 
 
 
 
 
 
 
 
 
Recovery of income taxes
 
 
-
 
 
 
-
 
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
Deferred tax reflects the tax effects of temporary differences that gave rise to significant portions of deferred tax assets and liabilities and consisted of the following:
 
 
 
 
2015
 
 
2014
 
 
 
 
$
 
 
$
 
Property and equipment
 
 
47,495
 
 
36,940
 
Share issue costs
 
 
3,877
 
 
162,350
 
SR&ED pool
 
 
340,585
 
 
7,137
 
Other
 
 
39,947
 
 
18,621
 
Non-capital losses - Canada
 
 
1,149,389
 
 
812,522
 
Net operating losses - U.S.
 
 
404,487
 
 
-
 
Valuation allowance
 
 
(1,985,780)
 
 
(1,037,570)
 
 
 
 
 
 
 
 
 
 
 
 
-
 
 
-
 
Summary of Income Tax Examinations [Table Text Block]
The following describes the open tax years, by major tax jurisdiction, as of December 31, 2015.
 
United States - Federal
 
2013 - present
United States - State
 
2013 - present
Canada - Federal
 
2012 - present
Canada - Provincial
 
2012 - present