Tucows 2014 Annual Report Download - page 167

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The Company is entitled to earn investment tax credits (“ITCs”), which are credits related to specific qualifying
expenditures as prescribed by Canadian Income Tax legislation. These ITCs relate primarily to research and development
expenses. The ITCs are recognized as a reduction in income tax expense once the Company has reasonable assurance that
the amounts will be realized.
(o) Stock-based compensation
Stock-based compensation expense recognized during the period is based on the value of the portion of stock-
based payment awards that is ultimately expected to vest, reduced for estimated forfeitures.
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