INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2017

Income Taxes Tables

Effective tax rate

In Thousands of US Dollars
Description	2017			2016			2015
Net loss for the year, before income taxes	$	(13,429	)	$	(13,110	)	$	(17,894	)
Net loss attributable to the Bahamas		(13,305	)		(12,978	)		(17,767	)
Net loss attributable the United States		(124	)		(132	)		(129	)
Domestic tax rate applicable to the Corporation		35	%		35	%		35	%
Income taxes at domestic tax statutory rate		(43	)		(46	)		(44	)
Change in valuation allowance		43			46			44
Deferred tax provision (recovery)	$	-		$	-		$	-

Unrecognized deferred tax assets

In Thousands of US Dollars
Description	2017		2016		2015
Tax loss carry forward	$	4,179	$	4,130	$	4,079
Patents capitalized and amortized for tax purposes		10		16		21
Unrecognized deferred tax assets	$	4,189	$	4,146	$	4,100

Net operating loss carryforwards for origination and expiration

In Thousands of US Dollars
Year Originated	Year of Expiration	Amount		Year Originated	Year of Expiration	Amount
1997	2017	$	1,932	2007	2027		373
1998	2018		2,781	2008	2028		351
1999	2019		1,078	2009	2029		86
2000	2020		813	2010	2030		541
2001	2021		664	2011	2031		480
2002	2022		522	2012	2032		177
2003	2023		564	2013	2033		121
2004	2024		353	2014	2034		70
2005	2025		264	2015	2035		127
2006	2026		355	2016	2036		147
				2017	2037		140
			Total			$	11,941