Income Taxes (Tables)
12 Months Ended
Feb. 28, 2023
Income Taxes  
Schedule of deferred income tax assets and liabilities

 

 

As at

 

 

 

February 28, 2023

 

 

February 28, 2022

 

Deferred tax assets

 

 

 

 

 

 

Canada net operating loss carry forward

 

$18,278,360

 

 

$15,735,374

 

U.S. net operating loss carry forward

 

 

8,005,706

 

 

 

6,366,370

 

Accrual and reserves

 

 

545,697

 

 

 

938,918

 

Intangibles

 

 

214,419

 

 

 

175,077

 

Property, plant and equipment

 

 

2,252,828

 

 

 

3,599,781

 

Research and development expenditures and credits

 

 

3,569,211

 

 

 

2,711,560

 

Basis in partnership

 

 

235,006

 

 

 

235,006

 

Other

 

 

894,525

 

 

 

698

 

Deferred tax assets

 

 

33,995,752

 

 

 

29,762,784

 

Deferred tax liabilities

 

 

 

 

 

 

 

 

Intangibles

 

 

(319,771)

 

 

(267,813)

Other

 

 

-

 

 

 

(165,778)

Deferred tax liabilities

 

 

(319,771)

 

 

(433,591)

 

 

 

 

 

 

 

 

 

Deferred tax assets, net

 

 

33,675,981

 

 

 

29,329,193

 

Valuation allowance

 

 

(33,675,981)

 

 

(29,329,193)

Deferred tax assets, net

 

$-

 

 

$-

 

Schedule of Income Taxes

 

 

February 28, 2023

 

 

February 28, 2022

 

U.S. operations

 

$(8,406,384)

 

$(12,690,909)

Foreign operations

 

 

(12,894,181)

 

 

(32,230,047)

Loss before taxes

 

$(21,300,565)

 

$44,920,956)
Schedule of Company's effective income tax rate

 

 

February 28, 2023

 

 

February 28, 2022

 

Statutory Federal rate

 

 

21%

 

 

21%

 

 

 

 

 

 

 

 

 

Federal income tax at statutory rate

 

$(4,473,117)

 

$(9,433,405)

Effect of foreign jurisdiction

 

 

(740,545)

 

 

1,803,016)

Non-deductible expenses

 

 

762,149

 

 

 

329,054

 

Tax credits related to research and development expenditures

 

 

(201,628)

 

 

(76,327)

Unrecognized tax benefit of net operating losses and other available deductions

 

 

4,653,141

 

 

 

10,983,694

 

Effective income tax expense

 

$-

 

 

$-

 

 

 

 

 

 

 

 

 

 

Current

 

$-

 

 

$-

 

Deferred

 

$-

 

 

$-