XML 40 R16.htm IDEA: XBRL DOCUMENT
v3.25.1

INCOME TAXES | 12 Months Ended
--- | ---
Dec. 31, 2024
Major components of tax expense (income) [abstract] |
INCOME TAXES | 11. INCOME TAXES The Company’s income tax (benefit) provision consisted of the following components (in thousands): SCHEDULE OF INCOME TAX BENEFIT
|  | 2024 |  |  | 2023 |
Current |  |  |  |  |  |  |  |
Federal |  |  | - |  |  |  | - |
State |  | $ | 374 |  |  |  | - |
Current |  |  | 374 |  |  |  | - |
Deferred |  |  |  |  |  |  |  |
Federal |  |  | 5,597 |  |  |  | 1,967 |
State |  |  | (107 | ) |  |  | 1,392 |
Deferred |  |  | 5,490 |  |  |  | 3,359 |
Total |  |  | 5,864 |  |  |  | 3,359 |
The provision for income taxes reported differs from the amounts computed by applying the cumulative US federal and state income tax rates to the net loss before tax provision due to the following: SCHEDULE OF INCOME TAX RATES TO THE NET LOSS BEFORE TAX PROVISION
|  | 2024 |  |  | 2023 |
Net income |  | $ | 23,979 |  |  | $ | 22,639 |
Statutory tax rate |  |  | 25.91 | % |  |  | 26.43 | %
Net income After Tax |  |  | 6,213 |  |  |  | 5,983 |
Add (deduct): |  |  |  |  |  |  |  |
Return to provision |  |  | (1 | ) |  |  | (122 | )
Depletion |  |  | (293 | ) |  |  | (352 | )
Prior period state deferred adjustments |  |  | 429 |  |  |  | 1,051 |
Change in unrecognized tax benefit |  |  | 140 |  |  |  | (3,229 | )
Change in enacted tax rate |  |  | (711 | ) |  |  | - |
Other |  |  | 87 |  |  |  | 28 |
Income tax expense |  | $ | 5,864 |  |  | $ | 3,359 |
Deferred tax liabilities and assets are attributable to the following: SCHEDULE OF DEFERRED TAX LIABILITIES AND ASSETS
|  | 2024 |  |  | 2023 |
Deferred income tax liabilities: |  |  |  |  |  |  |  |
Property, plant and equipment |  | $ | (39,172 | ) |  | $ | (37,118 | )
Commodity contracts |  |  | (189 | ) |  |  | (103 | )
Leases |  |  | - |  |  |  | (18 | )
Deferred tax assets: |  |  |  |  |  |  |  |
Stock based compensation |  |  | 835 |  |  |  | 377 |
Asset retirement obligations |  |  | 461 |  |  |  | 425 |
Other |  |  | 15 |  |  |  | - |
Loss carry-forward |  |  | 29,349 |  |  |  | 33,078 |
Deferred tax assets and liabilities |  | $ | (8,701 | ) |  | $ | (3,359 | )
Unrecognized deferred tax assets Deferred tax assets have not been recognized for the following deductible temporary differences: SCHEDULE OF UNRECOGNIZED DEFERRED TAX ASSETS
|  | 2024 |  |  | 2023 |
Property, plant and equipment |  | $ | 407 |  |  | $ | 441 |
Loss carry-forward |  |  | 20,946 |  |  |  | 22,014 |
Capital losses |  |  | 10,141 |  |  |  | 10,976 |
Unrecognized deferred tax assets |  | $ | 31,494 |  |  | $ | 33,431 |
Deferred tax assets have not been recognized in respect of these items because it is not probable that future taxable profits will be available against which they can be utilized. The Company has net operating losses carried forward which may be available to offset future income for income tax purposes expiring over the periods 2028 to 2039. The Company has net operating losses of approximately $112 million in the US, $139 million in US States and $21 million in Canada. The Canada net operating losses are unrecognized. The Company has temporary differences associated with its investments in its foreign subsidiaries. The Company has no deferred tax liabilities in respect of these temporary differences.

X
- Definition The entire disclosure for income taxes. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 12 -IssueDate 2024-01-01 -Section Disclosure -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=12&code=ifrs-tx-2024-en-r&doctype=Standard&dita_xref=IAS12_g79-88_TI -URIDate 2024-03-27 + Details
Name: | ifrs-full_DisclosureOfIncomeTaxExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | dtr-2022:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract
Namespace Prefix: | ifrs-full_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration