Quarterly report pursuant to Section 13 or 15(d)

16. Income Taxes

16. Income Taxes
3 Months Ended
Mar. 31, 2020
Income Tax Disclosure [Abstract]  
Income Taxes



The Company has experienced substantial losses for both book and tax purposes since inception and to date has not provided for any income tax expense. The potential future recovery of any tax assets that the Company may be entitled to due to these accumulated losses is uncertain and these tax assets are fully reserved based on management’s current estimates.


The Company’s estimated operating loss carryforwards and expiration dates for tax purposes are as follows:


2016 - $1,618,386 expiring in 2036

2017 - $2,182,354 expiring in 2037

2018 - $2,216,005 no expiration

2019 - $5,914,381 no expiration

2020 - $1,252,986 no expiration


Realization of operating loss carryforwards to offset future operating income for tax purposes are subject to various limitations including change of ownership and current year taxable income percentage limitations.


The Company has no credit carryforwards for tax purposes.


The Company’s tax returns since inception are subject to examination by taxing jurisdictions in the United States and Canada.