Company: MMTIF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001062993-25-003888
Chunk: 102

Company: MICROMEM TECHNOLOGIES INC
Filing Date: 2025-02-28
Form: 20-F
Item: Item 18
Chunk 102
---
-taxable) expenses and financing costs 239,387 ( 13,660) ( 3,780
Effect of changes in exchange rates 30,403 74,714 940,577
Change in deferred tax assets not recognized 315,353 310,790 ( 611,240
- - -
(b)Deferred income taxes reflect the net tax effect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and amounts used for income tax purposes. Significant components of the Company's deferred tax assets and liabilities are as follows:
2024 2023 2022
─────────────────────────────────────────────────────────────────────────────────────────────────────────
Non-capital losses 9,163,035 8,833,940 8,485,255
Capital losses 159,162 159,671 162,275
Property, equipment, patents and deferred costs 1,591,255 1,605,743 1,639,306
10,913,452 10,599,354 10,286,836
Deferred tax asset not recognized ( 10,913,452 ( 10,599,354 ( 10,286,836
- - -
As at October 31, 2024 and 2023, the Company assessed that it is not probable that sufficient taxable profit will be available to use deferred income tax assets based on operating losses in prior years; therefore, there are no balances carried in the consolidated statements of financial position for such assets.
(c)The Company has non-capital losses of approximately $34 million available to reduce future taxable income, the benefit of which has not been recognized in these consolidated financial statements. As at October 31, 2024, the tax losses expire as follows:
Canada United States Total
2028 - - -
───────────────────────────────────────────────────────────
2026 1,726,462 - 1,726,462
2027 1,451,819 - 1,451,819
2029 1,487,922 143,721 1,631,643
2030 2,007,595 1,880,897 3,888,492
2031 1,209,514 18,526 1,228,040
2032 1,340,456 325,793 1,666,249
2033 1,624,764 157,463 1,782,227
203