| Income taxes |
21.Income taxes | a) | Provision for Income Tax |
A reconciliation of income taxes at statutory rates with the reported taxes is as follows: | | | | | | | | | 2025 | | 2024 | | | $ | | $ | | | (Restated – see Note 4) | | (Restated – see Note 4) | Loss for the year | | | (44,214,333) | | | (23,664,711) | Expected income tax (recovery) | | | (11,938,000) | | | (6,389,000) | Change in statutory tax, foreign tax, foreign exchange rates | | | 107,000 | | | (129,000) | Permanent differences | | | 6,612,000 | | | 1,501,000 | Share issue costs and financing fee | | | (241,000) | | | (440,000) | Change in statutory tax rate | | | (294,000) | | | 25,000 | Change in unrecognized deductible temporary differences | | | 5,754,000 | | | 5,432,000 | Total income tax expense (recovery) | | | — | | | — | | | | | | | | Current income tax | | $ | — | | $ | — | Deferred tax recovery | | $ | — | | $ | — |
| | | | | | | 2025 | | 2024 | | | $ | | $ | | | (Restated – see Note 4) | | (Restated – see Note 4) | Equipment and license | | 759,000 | | 624,000 | R&D under Section 174 | | 1,508,000 | | 1,186,000 | US R&D tax credit | | 574,000 | | — | Share issue costs and financing fee | | 518,000 | | 572,000 | Foreign exchange | | (13,000) | | (10,000) | Unpaid accrued bonus and vacation | | 63,000 | | — | Scientific research and experimental development expenditures | | 3,609,000 | | 3,278,000 | Non-capital losses available for future periods | | 20,348,000 | | 15,977,000 | | | 27,366,000 | | 21,627,000 | Unrecognized deferred tax asset | | (27,366,000) | | (21,627,000) | Net deferred tax assets | | — | | — |
21.Income taxes cont’d The significant components of the Company’s temporary differences, unused tax credits and unused tax losses that have not been included in the consolidated statements of financial position are as follows: | | | | | | | | | | | 2025 | | Expiry | | 2024 | | Expiry | | | $ | | | | $ | | | Equipment and license | | 2,814,000 | | None | | 2,310,000 | | None | R&D under Section 174 | | 7,179,000 | | None | | 5,649,000 | | None | US R&D tax credit | | 574,000 | | 2044-2045 | | — | | None | Share issue costs and financing fee | | 1,919,000 | | 2046-2049 | | 2,117,000 | | 2045-2048 | SRED pool | | 7,319,000 | | None | | 6,726,000 | | None | Federal SRED ITC | | 1,090,000 | | 2039-2045 | | 992,000 | | 2039-2044 | BC SRED ITC | | 543,000 | | 2029-2035 | | 470,000 | | 2029-2034 | Non-capital losses available for future periods | | 77,813,000 | | See below | | 60,713,000 | | See below | Canada | | 66,240,000 | | 2036-2045 | | 52,621,000 | | 2036-2044 | USA | | 10,658,000 | | None | | 7,430,000 | | None | Australia | | 915,000 | | None | | 662,000 | | None |
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