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INCOME TAXES | 12 Months Ended
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Dec. 31, 2024
Notes and other explanatory information [abstract] |
INCOME TAXES | 22. INCOME TAXES The following table reconciles the expected income tax recovery at the Canadian statutory income tax rate of 26.5% for 2024 (2023 - 26.5%, 2022 - 26.5%) to the amounts recognized in operations. SCHEDULE OF INCOME TAX RECOVERY
For the Year Ended December 31, |  | 2024 |  |  | 2023 |  |  | 2022 |
Net loss before taxes |  | $ | (56,695,823 | ) |  | $ | (20,267,365 | ) |  | $ | (21,036,690 | )
Expected current income tax recovery |  | $ | 15,024,000 |  |  | $ | 5,370,852 |  |  | $ | 5,574,723 |
Change in statutory, foreign tax, foreign exchange rates and other |  |  | (1,717,000 | ) |  |  | - |  |  |  | - |
Amounts not deductible for tax purposes |  |  | (8,988,000 | ) |  |  | (1,113,000 | ) |  |  | (1,177,000 | )
Other deductible items |  |  | 232,000 |  |  |  | 191,000 |  |  |  | 161,000 |
Adjustment to prior years provision versus statutory tax returns and expiry of non capital losses |  |  | 6,623,000 |  |  |  | - |  |  |  | - |
Other non deductible items |  |  | - |  |  |  | (69,000 | ) |  |  | (66,000 | )
Change in unrecognized deductible temporary differences |  |  | (11,174,000 | ) |  |  | - |  |  |  | - |
Non taxable gain (loss) |  |  | - |  |  |  | - |  |  |  | (388,000 | )
Deferred R&D expenses, net |  |  | - |  |  |  | (459,000 | ) |  |  | (627,000 | )
Foreign tax differential |  |  | - |  |  |  | (905,538 | ) |  |  | (828,000 | )
Unrecognized tax losses |  |  | - |  |  |  | (3,015,314 | ) |  |  | (2,649,723 | )
Income tax recovery recognized |  | $ | - |  |  | $ | - |  |  | $ | - |
The following table reflects future income tax assets at December 31: SCHEDULE OF FUTURE INCOME TAX ASSETS
|  | 2024 |  |  | 2023 |  |  | 2022 |
Resource assets |  | $ | 827,000 |  |  | $ | 1,024,271 |  |  | $ | 1,024,271 |
Gross unamortized share issue costs |  |  | 1,280,000 |  |  |  | 810,000 |  |  |  | 1,081,250 |
Capitalized S.174 expenses |  |  | 10,088,000 |  |  |  | 5,900,000 |  |  |  | 2,368,000 |
Canadian non-capital losses |  |  | 27,466,000 |  |  |  | 22,585,000 |  |  |  | 21,955,000 |
Canadian capital losses |  |  | 5,252,000 |  |  |  | 5,300,000 |  |  |  | 5,156,000 |
US non-capital losses |  |  | 98,396,000 |  |  |  | 95,300,000 |  |  |  | 93,000,000 |
Singapore non-capital losses |  |  | 18,254,000 |  |  |  | 19,300,000 |  |  |  | 13,800,000 |
Property and equipment |  |  | 4,783,000 |  |  |  | - |  |  |  | - |
Unused income tax losses |  |  | 166,346,000 |  |  |  | 150,219,271 |  |  |  | 138,384,521 |
Unrecognized deferred tax assets |  |  | (166,346,000 | ) |  |  | (150,219,271 | ) |  |  | (138,384,521 | )
Deferred income tax assets recognized |  | $ | - |  |  | $ | - |  |  | $ | - |

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