RE:RE:RE:GM MGX M --- The MGX M Financials are now on line !!!! AJ, you left out this.
"e) Flow-through obligation
Flow-through share arrangements entitle the holder of the flow-through share to a 100% tax deduction in respect of qualifying Canadian exploration expenses as defined under the Income Act, Canada (“Qualifying CEE”). During the calendar year ending December 31, 2018 the Company received $11,511,134 of flow-through share proceeds and renounced the full amounts at December 31, 2018. The Company must incur $11,511,134 of flow through expenditures by December 31, 2019.
During the year ended December 31, 2017 the Company raised $9,165,087 of flow-through funds and renounced the full amount at December 31, 2017. The Company was unable to meet its full flow-through requirements and had a shortfall of $4,081,384. The Company has recorded a Part XII.6 taxes of $509,109 during the year ended July 31, 2019. The Company has also recorded an additional $826,508 of flow-through indemnity expense relating to the tax loss incurred by subscribers."
Regards,
AT