• Filing Date: 2019-07-11
  • Form Type: 10-K
  • Description: Annual report
v3.19.2
Income Taxes (Tables)
12 Months Ended
Apr. 30, 2019
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
      Years Ended  
      April 30,  
      2019     2018  
  Tax loss carry forwards $  14,805,000   $  13,606,000  
  Capital losses carried forward   240,000     242,000  
  Equipment   142,000     133,000  
  Other   7,000     12,000  
  Bad debt   227,000     109,000  
  Nondeductible research and development expenses   2,971,000     2,993,000  
  Investment tax credits   436,000     439,000  
  Other intangibles   428,000     431,000  
  Acquired technology   (383,000 )   (183,000 )
  Valuation allowance established by management   (18,874,000 )   (17,782,000 )
  Net deferred tax assets $  –   $  –  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
      Years Ended  
      April 30,  
      2019     2018  
  Tax (recovery) based on U.S. rates $  (1,053,000 ) $  (957,000 )
  Foreign tax rate differential   32,000     (20,000 )
  Non-deductible stock option compensation   101,000     182,000  
  Effect of reduction (increase) in statutory rates   (203,000 )   6,648,000  
  Foreign exchange losses on revaluation of deferred tax balances   411,000     (464,000 )
  Under provision relating to prior year   (380,000 )   (72,000 )
  Expiry of non-operating losses       706,000  
  Increase in valuation allowance   1,092,000     (6,023,000 )
  Income tax expense for year $  –   $  –  
Summary of Operating Loss Carryforwards [Table Text Block]
  Country         Amount     Expiration Dates  
  United States – US$       $  51,886,000     2027 – 2039  
  United States – US$       $  5,757,000 (1)   Indefinite  
  Canada – CDN$       $  13,437,000 (2)   2023 – 2039  

(1) Net operating losses arising in tax year beginning after December 31, 2017 can be carried forward indefinitely instead of 20 years and carrybacks are no longer permitted. However, the net operating loss carryforward is limited and can only offset 80% of taxable income.

(2) These losses are subject to tax legislation that limits the use of the losses against future income of the Company’s Canadian subsidiaries.

Summary of Positions for which Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Table Text Block]
      Years Ended  
      April 30,  
      2019     2018  
  Balance at beginning of year $  9,763   $  9,763  
  Increases related to prior year tax positions (interest and penalties)        
  Increases related to current year tax positions (interest and penalties)        
  Settlements        
  Lapses in statute of limitations        
  Balance at end of year $  9,763   $  9,763