INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2020

INCOME TAXES

Schedule of reconciliation of reported tax expense

	For the years ended
	December 31,
	2020			2019			2018
Loss before income taxes	$	(29,219,098)		$	(35,102,222)		$	(107,876,382)
Statutory tax rate		27.00	%		27.00	%		27.00	%
Recovery of income taxes based on the combined Canadian federal and provincial statutory rates		(7,889,156)			(9,477,600)			(29,126,623)
Share-based remuneration		1,324,569			861,248			1,073,142
Unrealized gain on derivatives		(2,320,685)			—			—
Effect of historical adjustments		—			—			(16,036)
Other permanent differences		(250,111)			190,096			20,930,238
Unrecognized deferred tax benefits		8,061,195			8,464,437			7,183,316
Difference in tax rates between foreign jurisdictions and Canada		550,131			(9,389)			63,056
Income tax (recovery)/ expense	$	(524,057)		$	28,793		$	107,093

Schedule of components of income tax expense

	For the years ended
	December 31,
	2020		2019		2018
Current tax	$	(524,057)	$	28,793	$	107,093
Deferred tax		—		—		—
Income tax expense	$	(524,057)	$	28,793	$	107,093

Schedule of the unrecognized deferred tax assets

	For the years ended
	December 31,
	2020		2019		2018
Investment tax credits	$	464,888	$	464,888	$	528,641
Capital assets		4,287		7,392		9,382
Lease liability		224,249		194,528		—
Recognized deferred tax assets	$	693,424	$	666,808	$	538,023
Set off of tax		(693,424)		(666,808)		(538,023)
Investment tax credits	$	(464,888)	$	(464,888)	$	(528,641)
Capital assets		(4,287)		(7,392)		(9,382)
Right of use asset		(224,249)		(194,528)		—
Recognized deferred tax liabilities	$	(693,424)	$	(666,808)	$	(538,023)
Set off of tax	$	693,424	$	666,808	$	538,023

Schedule of unrecognized deductible temporary differences and unused tax losses for which no deferred tax asst is recognized

	For the years ended December 31,
	2020		2019		2018
Deductible temporary differences	$	10,616,227	$	7,843,252	$	5,247,143
Unused tax credits		2,416,825		2,416,825		3,054,186
Tax losses		318,477,703		273,792,687		245,013,646
	$	331,510,755	$	284,052,764	$	253,314,975

Schedule of Unused tax losses for the Company and their expiry dates

Expiration Date	Amount
2023		6,038,836
2024		6,906,649
2025		18,105,259
2026		32,396,580
2027		135,245,992
2028		33,339,203
2029		15,799,773
2030		21,718,728
US losses	$	12,885,335
Israel losses	$	36,041,348
	$	318,477,703