13. Income taxes

3 Months Ended

Mar. 31, 2016

Income Tax Disclosure [Abstract]

13. Income taxes

13. Income taxes

The Company is not current in its tax filings as of March 31, 2016.

As at December 31, 2015, the Company is in arrears on filing its statutory income tax returns and the amounts presented above are based on estimates. The actual losses available could differ from these estimates. In addition, the Company could be subject to penalties for these unfiled tax returns

During the year ended December 31, 2015, the Company has accrued and expensed $200,000 (2014: $150,000) in penalties and interest attributable to delinquent information returns which the Company is required to file in the US. Management believes the Company has adequately provided for any ultimate amounts that are likely to be due once these information returns are filed.

The Company operates in foreign jurisdictions and is subject to audit by taxing authorities. These audits may result in the assessment of amounts different than the amounts recorded in the consolidated financial statements. The Company liaises with the relevant authorities in these jurisdictions in regard to its income tax and other returns. Management believes the Company has adequately provided for any taxes, penalties and interest that may fall due.