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Other payables

9 Months Ended

Jun. 30, 2025

19.

Other payables

Technology Partnerships Canada (“TPC”) projects are long-term (up to 30 years) commencing with an R&D phase, followed by a benefits phase – the period in which a product, or a technology, could generate revenue for the Company. In such cases, repayments would flow back to the program according to the terms and conditions of the Company’s contribution agreement.

In June 2018, the contribution agreement was amended and is included at its net present value in other payables. Further, in September 2024, the agreement was further amended with amended terms and conditions for the repayment of the debt with new payment schedule. Consequently, the old debt was de-recognized and the new debt was recognized with first payment starting in July 2025 and final payment to be discharged in July 2031.

The following table represents changes in the debt for repayments to Industry Canada:

	June 30, 2025			September 30, 2024
Opening balance		379			984
Interest accretion		-			490
Foreign exchange gain / loss		(9	)		-
Debt extinguishment		-			(1,474	)
Recognition of new debt		-			370
Interest accretion on new debt		99			9
Ending balance		469			379
Less: current portion of the debt (included in Trade and other payables)		(44	)		(36	)
Ending balance of long-term portion		425			343

Following is the payment schedule for TPC:

Year	Amount
2025		155
2026		132
2027		132
2028		132
2029		132
2030		132
2031		132