Annual report [Section 13 and 15(d), not S-K Item 405]

Note 16 - Income Taxes (Tables)

v3.26.1
Note 16 - Income Taxes (Tables)
12 Months Ended
Dec. 31, 2025
Notes Tables  
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]
   

Year Ended December 31,

 
   

2025

   

2024

 

Domestic (Canada)

  $ (33,119 )   $ (24,452 )

Foreign

    381       38  

Loss before income tax expense

  $ (32,738 )   $ (24,414 )
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
   

December 31,

 
   

2025

   

2024

 

Current

               

Federal

  $ 24     $ 28  

State

           

Foreign

    4       2  

Total current

  $ 28     $ 30  
                 

Deferred

               

Federal

  $     $  

State

           

Foreign

           

Total deferred

  $     $  
                 

Total income tax expense

  $ 28     $ 30  
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
   

December 31, 2025

   

December 31, 2024

 
   

Amount

   

Percent

   

Amount

   

Percent

 

Loss before income tax expense

  $ (32,738 )           $ (24,414 )        
                                 

Canadian federal statutory rate

    (4,911 )     15.0 %     (3,662 )     15.0 %

Canadian provincial and local income tax rate

    (3,640 )     11.1 %     (2,719 )     11.1 %

Foreign tax effects

    (74 )     0.2 %     13       (0.1 )%

Nontaxable or nondeductible items

                               

Share-based compensation

    515       (1.6 )%     273       (1.1 )%

Share issuance costs

    (149 )     0.5 %     (8 )     0.1 %

Other

    (4 )     0.0 %           0.0 %

Changes in valuation allowance

    8,291       (25.3 )%     6,133       (25.1 )%
                                 

Actual income tax expense

  $ 28       (0.1 )%   $ 30       (0.1 )%
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
   

December 31,

 
   

2025

   

2024

 

Deferred tax assets (liabilities):

               

Non-capital losses carried forward

  $ 40,316     $ 32,240  

Research and development expenditures

    817       817  

Patents and other

    460       400  

Share-based compensation

    419       284  

Share issue costs

    379       275  

Accruals

    92       256  

Property and equipment

    (71 )     (89 )

Total deferred tax asset, net

    42,412       34,183  

Valuation allowance

    (42,412 )     (34,183 )

Net deferred tax asset

  $     $  
Summary of Valuation Allowance [Table Text Block]
   

December 31,

   

December 31,

 
   

2025

   

2024

 

Balance at beginning of the year

  $ 34,183     $ 28,039  

Increase based on tax positions related to current period

    8,229       6,144  

Increase based on tax positions related to prior periods

           

Balance at end of the year

  $ 42,412     $ 34,183  
Summary of Operating Loss Carryforwards [Table Text Block]
   

Amount

(In thousands)

 

Expiration Years

Non-capital income tax losses, net – domestic

  $ 145,679  

Beginning 2027

Non-capital income tax losses, net – foreign

       

Research and development expense carry forwards

    3,027  

Indefinitely

Tax credits

    473  

Beginning 2026