| SCHEDULE OF RECONCILIATION OF INCOME TAXES AT STATUTORY TAXES |
A
reconciliation of income taxes at statutory rates with the reported taxes is as follows:
SCHEDULE
OF RECONCILIATION OF INCOME TAXES AT STATUTORY TAXES
| | |
December 31, 2025 | | |
December 31, 2024 | | |
December 31, 2023 | |
| Income (loss) before tax | |
$ | 12,955,376 | | |
$ | (47,588,970 | ) | |
$ | (18,466,962 | ) |
| Income tax rate | |
| 27% and 23 | % | |
| 27% and 23 | % | |
| 27% and 23 | % |
| Expected income expense (recovery) | |
| 3,498,154 | | |
| (12,851,939 | ) | |
| (4,889,258 | ) |
| Permanent differences | |
| (7,127,858 | ) | |
| 8,738,305 | | |
| 971 | |
| Prior years reassessment of tax expense | |
| - | | |
| - | | |
| - | |
| Change in unrecognized deferred assets | |
| (32,220 | ) | |
| 1,907 | | |
| (20,073 | ) |
| Change in valuation allowance | |
| 3,631,414 | | |
| 4,085,102 | | |
| 4,600,864 | |
| Other | |
| 63,592 | | |
| 27,912 | | |
| 335,655 | |
| Total income tax expense | |
$ | 33,082 | | |
$ | 1,287 | | |
$ | 28,159 | |
| | |
| | | |
| | | |
| | |
| Current income tax | |
$ | 33,082 | | |
$ | 1,287 | | |
$ | 28,159 | |
| Deferred income tax | |
| - | | |
| | | |
| - | |
| Total income tax expense | |
$ | 33,082 | | |
$ | 1,287 | | |
$ | 28,159 | |
|
| SCHEDULE OF TEMPORARY DIFFERENCES OF DEFERRED TAX ASSETS AND LIABILITIES |
Temporary
differences that give rise to the following deferred tax assets and liabilities at are:
SCHEDULE
OF TEMPORARY
DIFFERENCES OF DEFERRED TAX ASSETS AND LIABILITIES
| | |
December 31, 2025 | | |
December 31, 2024 | |
| Deferred tax assets | |
| | | |
| | |
| Non-capital loss carry forwards – Canada | |
| 12,962,175 | | |
| 9,330,761 | |
| Non-capital loss carry forwards – Israel | |
| - | | |
| - | |
| Non-capital loss carry forwards | |
$ | 12,962,175 | | |
$ | 9,330,761 | |
| Valuation allowance | |
| (12,962,175 | ) | |
| (9,330,761 | ) |
| Net deferred tax assets | |
$ | - | | |
$ | - | |
|