Income taxes (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Notes and other explanatory information [abstract] |
|
| Schedule of reconciliation of income taxes at statutory rates with the reported taxes |
A
reconciliation of income taxes at statutory rates with the reported taxes for the year ended December 31, 2025 and 2024 are as follows:
Schedule
of reconciliation of income taxes at statutory rates with the reported taxes
| | |
For
the year ended December
31, 2025 | | |
For
the year ended
December
31, 2024 | |
| Loss
before income taxes | |
$ | (161,443 | ) | |
$ | (15,926 | ) |
| Combined
federal and provincial income tax rates | |
| 27 | % | |
| 27 | % |
| Expected
income tax recovery at statutory rates | |
| (43,590 | ) | |
| (4,300 | ) |
| Permanent
differences and other | |
| 38,931 | | |
| 3,008 | |
| Changes
in temporary differences not recognized | |
| 5,794 | | |
| 976 | |
| Foreign
tax rate differential | |
| (665 | ) | |
| 688 | |
| Income
tax expense | |
$ | 470 | | |
$ | 372 | |
|
| Schedule of income tax enacted tax rates |
The
enacted or substantively enacted tax rates for the Company are as follows:
Schedule
of income tax enacted tax rates
| | |
2025 | | |
2024 | |
| Canada | |
| 27 | % | |
| 27 | % |
| Korea | |
| 22 | % | |
| 21 | % |
| Portugal | |
| 19 | % | |
| 22 | % |
| Spain | |
| 20 | % | |
| 20 | % |
| United
States | |
| 21 | % | |
| 21 | % |
|
| Schedule of recognized deferred income tax assets and liabilities |
Recognized
deferred income tax assets and liabilities relate to the following:
Schedule
of recognized
deferred income tax assets and liabilities
| | |
December
31, 2025 | | |
December
31, 2024 | |
| Non-capital
losses (Portugal) | |
$ | 2,057 | | |
$ | 2,204 | |
| Other
assets (Portugal) | |
| 162 | | |
| 160 | |
| Other
(Spain) | |
| (15 | ) | |
| (14 | ) |
| Total | |
$ | 2,204 | | |
$ | 2,350 | |
| | |
| | | |
| | |
| Opening
balance | |
| 2,350 | | |
| 2,537 | |
| Tax
expense recognized in net income after tax | |
| (434 | ) | |
| (239 | ) |
| Impact
of change in currency exchange rates | |
| 288 | | |
| 52 | |
| Closing
balance | |
$ | 2,204 | | |
$ | 2,350 | |
|
| Schedule of deferred tax assets temporary differences have not been recognized |
Deferred
tax assets for the following temporary differences have not been recognized in the consolidated financial statements:
Schedule
of deferred tax assets temporary differences have not been recognized
| | |
December
31, 2025 | | |
December
31, 2024 | |
| Inventory | |
$ | 2,225 | | |
$ | 2,225 | |
| Restoration
provision | |
| 9,820 | | |
| 11,797 | |
| Capital
losses | |
| 36,633 | | |
| 36,633 | |
| Non-capital
losses | |
| 166,016 | | |
| 129,189 | |
| Other | |
| 1,636 | | |
| 1,614 | |
| Net
deferred tax assets | |
$ | 216,330 | | |
$ | 181,458 | |
|
| Schedule of non-capital tax losses |
The
Company has the following non-capital tax losses that expire in the years indicated:
Schedule
of non-capital tax losses
| | |
Canada | | |
Korea | | |
Portugal | | |
Spain | | |
Unites
States | |
| | |
CAD | | |
CAD | | |
EUR | | |
EUR | | |
CAD | |
| 2026 | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| 2027 | |
| 2,092 | | |
| - | | |
| - | | |
| - | | |
| - | |
| 2028 | |
| 3,625 | | |
| - | | |
| - | | |
| - | | |
| - | |
| 2029 | |
| 2,260 | | |
| - | | |
| - | | |
| 286 | | |
| - | |
| 2030 | |
| 1,990 | | |
| 18 | | |
| - | | |
| - | | |
| - | |
| 2031 | |
| 4,255 | | |
| 449 | | |
| - | | |
| - | | |
| - | |
| 2032 | |
| 5,620 | | |
| 74 | | |
| - | | |
| 1,300 | | |
| - | |
| 2033
or later | |
| 89,598 | | |
| 25,682 | | |
| 6,729 | | |
| 18,747 | | |
| 1,064 | |
| Non-capital
losses in local currency | |
| 109,441 | | |
| 26,222 | | |
| 6,729 | | |
| 20,333 | | |
| 1,064 | |
| Non-capital
losses in CAD | |
| 109,441 | | |
| 26,222 | | |
| 10,826 | | |
| 32,714 | | |
| 1,064 | |
| Total
non-capital losses in CAD | |
| | | |
| | | |
| | | |
| | | |
| 180,267 | |
|