Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v2.4.0.8
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2013
Income Taxes  
Schedule of differences between the carrying amount of assets and liabilities for financial reporting purposes

 

 

December 31

 

2013

 

2012

 

 

 

$

 

$

 

Deferred tax assets:

 

 

 

 

 

Net operating loss carryforwards

 

23,075,700

 

18,182,000

 

Charitable contributions

 

500

 

2,800

 

Inventory Reserves

 

144,000

 

365,600

 

Stock-based compensation

 

101,500

 

52,300

 

Total deferred tax assets

 

23,321,700

 

18,602,700

 

Deferred tax liabilities:

 

 

 

 

 

Depreciation

 

(84,100

)

(154,900

)

Amortization

 

121,000

 

(51,700

)

Total deferred tax assets (liabilities)

 

36,900

 

(206,600

)

Net deferred tax assets

 

23,358,600

 

18,396,100

 

Valuation allowance

 

(23,358,600

)

(18,396,100

)