Income taxes

As at December 31, 2017, the Company has available Canadian non-capital losses in the amount of $117,232,000 (2016 – $73,002,000) to reduce Canadian taxable income in future years. The Company has unclaimed investment tax credits of $1,409,000 (2016 – $1,158,000) available to reduce future Canadian income taxes otherwise payable.

The losses and credits will expire as follows:



	Non-capital losses carried forward $	Federal investment tax credits $
2029	3,294	30
2030	2,341	50
2031	1,777	280
2032	7,224	184
2033	5,546	75
2034	13,036	131
2035	18,753	203
2036	22,142	206
2037	44,119	250

As at December 31, 2017 and December 31, 2016, temporary differences for which no deferred tax asset was recognized were as follows:



	2017 $		2016 $
Deferred tax assets (liabilities)
Loss carry-forwards	31,700		19,347
Share issue costs	3,364		1,425
Deferred revenue and contingent consideration	1,175		868
Property and equipment	2		2
Intangible assets	1,507		606
Other	159		76
	37,907		22,324
Potential tax assets not recognized	(37,907	)	(22,324	)
Net deferred tax assets	—		—

Given the Company’s past losses, management does not believe that it is more probable than not that the Company can realize its deferred tax assets and therefore it has not recognized any amount in the consolidated statements of financial position.

The difference between the expected income tax recovery based on a 27.0% (2016 – 26.5%) Canadian statutory tax rate and the actual income tax recovery is summarized as follows:



	2017 $		2016 $
Expected recovery at the statutory rate	(19,135	)	(6,184	)
Non-taxable revaluation of warrant liabilities	6,459		(459	)
Non-deductible expenses including stock compensation	1,418		589
Unrecognized deductible temporary differences	11,258		6,054
Total income tax recovery	—		—