As a result of the frequent use of flow-through shares ("FTS") by small and medium size corporations, it is vital that certain common pitfalls are avoided. This article will review common issues surrounding FTS, specifically, the timing of incurring Canadian exploration expenditures ("CEEs") and Canadian development expenditures ("CDEs") (collectively, "Qualifying Expenditures"), the type of seismic data which may be renounced to FTS subscribers (the "FTS Holders" or the "FTS Holder"), and the classification of finite and infinite term seismic licenses. Written by Greg M. Johnson and Kyle Rousay; published in Resource Sector Taxation (Vol. VIII, No. 1, p. 555) by Federated Press.