EFTA01378114.pdf

Note 3—Income taxes The components of the provision for Income taxes are as follows: Years ended December 31, 2013 2014 (In thousands of CAD) Current Income tax provision: Canadian federal $ 3,658 $ 5,024 Provincial 2.814 3,843 Foreign 314 234 Current income tax provision 6.786 9,101 Deferred Income tax (benefit) provision: Canadian federal (5) 3 Provincial 3 Deferred income tax (benefit) provision (5) 6 Income tax provision $ 6,781 $ 9,107 F-78 The tax effects of cumulative temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are presented below December 31, 2013 2014 (In thousands of CAD) Deferred tax assets: Losses carryfonvard $ 486 $ 508 Total deferred tax assets 486 508 Deferred tax liabilities: Property and equipment (316) (324) Total deferred tax liabilities (316) (324) Net deferred tax assets 3 170 $ 184 At December 31, 2014, the Company has $1.9 million of non-capital losses for income tax purposes which can be carried forward to be applied against future taxable income. These losses will expire at various times between 2031 and 2034. A reconciliation of the income tax provision to the amounts computed by applying the Canadian statutory federal income tax rate to earnings before income taxes is shown as follows: Years ended December 31, 2013 2014 (In thousands of CAD) Income tax provision at the Canadian federal statutory rate of 15% $ 3.911 5.215 Provincial taxes 2,810 3,840 Non-deductible expense 9 21 Other, net 51 31 Income tax provision $ 6,781 $ 9,107 A reconciliation of the beginning and ending amount of unrecognized tax benefits, excluding interest, is as follows: December 31, 2013 2014 (In thousands of CAD) Balance at January 1 $ $ 296 Additions based on tax positions related to the current year 296 322 Balance at December 31 $ 296 $ 618 The Company recognizes interest and, if applicable, penalties related to unrecognized tax benefits in the income tax provision. At December 31, 2013 and 2014, the Company has accrued less than $0.1 million, respectively, for the payment of Interest. F-79 http. vstwditec.gtw An:hives edgat data 15751891X)0104746915008.431 a22264511n-lahintil I 9'2015 9.27:17 ANfj CONFIDENTIAL - PURSUANT TO FED. R. GRIM. P. 6(e) DB-SDNY-0075274 CONFIDENTIAL SDNY_GM_00221458 EFTA01378114