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Share Capital | 12 Months Ended
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Mar. 31, 2025
Share Capital [Abstract] |
Share capital | 15. Share capital a) Authorized The Company is authorized to issue an unlimited number of Common Shares, each without par value. b) Issued and outstanding On November 26, 2024, the Company consolidated its common shares on the basis of 75:1. On May 5, 2025, the Company consolidated its common shares and warrants on the basis of 7.97:1. All common shares and value per share amounts have been updated to reflect the share consolidations. As at March 31, 2025, there were 568,021 (March 31, 2024 – 22,402) issued and outstanding Common Shares.
|  | 2025 |
Common shares |  | Number |  |  | Amount ($) |
Opening balance April 1, 2024 |  |  | 22,402 |  |  |  | 46,125,397 |
Shares issued on conversion of convertible note |  |  | 38,156 |  |  |  | 4,617,286 |
Shares issued on conversion of convertible note warrants |  |  | 22,876 |  |  |  | 639,954 |
Shares issued for ELOC |  |  | 218,900 |  |  |  | 6,692,495 |
Commitment shares ELOC |  |  | 3,392 |  |  |  | 187,500 |
Share issuance costs for ELOC |  |  | - |  |  |  | (469,600 | )
Warrant exchange |  |  | 1,104 |  |  |  | 192,060 |
Shares issued to third party advisors |  |  | 586 |  |  |  | 241,379 |
Shares issued on conversion of PGI promissory notes |  |  | 47,265 |  |  |  | 988,569 |
Shares issued on conversion of NCAC promissory notes |  |  | 52,275 |  |  |  | 1,096,358 |
Shares issued for PsyLabs share exchange |  |  | 35,594 |  |  |  | 722,033 |
Shares issued for PIPE financing |  |  | 47,679 |  |  |  | 313,628 |
Share issuance costs for PIPE financing |  |  | - |  |  |  | (40,449 | )
Shares issued for PIPE pre-funded warrants exercised |  |  | 77,792 |  |  |  | 511,690 |
Shares issuance costs for PIPE pre-funded warrants exercised |  |  | - |  |  |  | (65,995 | )
Balance as at March 31, 2025 |  |  | 568,021 |  |  |  | 61,752,305 |
On January 25, 2024, because of the completion of the RTO Transaction, the Company issued 8,365 Common Shares to PGI, 13,040 to the previous shareholders of NCAC and 997 to third party advisors (see Note 5). Payments to advisors of NCAC was settled in the Company’s shares upon RTO Transaction at the closing price. Accounts payable of $2,136,340 acquired from NCAC as part of the RTO Transaction was settled through the issuance of 746 shares at a fair value of $2,863.22 per share on January 25, 2024. An amount of $1,000,000 owing by the Company for services provided in relation to the RTO Transaction was settled through the issuance of 251 common shares at a fair value of $2,863.22. A gain on settlement of $281,500 was included in the consolidated statements of net loss and comprehensive loss relating to this advisor settlement. The opening balance of equity is the net parent investment which represents the net financings that the Company received from PGI to fund its operations through contributions to the clinical trials, cash extended to the Company’s subsidiaries and the net effect of cost allocations from transactions with PGI, all of which did not require repayments. c) Income/(Loss) per share The calculation of basic and diluted income/(loss) per share is based on the income/(loss) for the year divided by the weighted average number of shares in circulation during the year. In calculating the diluted loss per share, potentially dilutive shares such as options, convertible debt and warrants have not been included as they would have the effect of decreasing the loss per share, and they would therefore be anti-dilutive. d) Warrant Reserve As at March 31, 2025, there were 261,188 (March 31, 2024 – nil) issued and outstanding Warrants.
|  | 2025 |
Warrants |  | Number |  |  | Amount ($) |
Opening balance April 1, 2024 |  |  | - |  |  |  | - |
Warrants issued for convertible note Addendum |  |  | 837 |  |  |  | 42,528 |
Warrants issued for convertible note Termination Agreement |  |  | 22,876 |  |  |  | 639,954 |
Convertible note Termination Agreement warrants exercised |  |  | (22,876 | ) |  |  | (639,954 | )
PIPE financing warrant issuance |  |  | 328,734 |  |  |  | 1,686,372 |
PIPE financing warrant issuance costs |  |  | 9,409 |  |  |  | 137,778 |
Issuance costs for PIPE financing warrants |  |  | - |  |  |  | (355,278 | )
PIPE pre-funded warrants exercised |  |  | (77,792 | ) |  |  | (511,690 | )
Issuance costs for PIPE pre-funded warrants exercised |  |  | - |  |  |  | 65,995 |
Balance as at March 31, 2025 |  |  | 261,188 |  |  |  | 1,065,705 |
The following warrants were outstanding and exercisable at March 31, 2025:
Issue Date |  | Expiry Date |  | Exercise Price |  |  | Number of Warrants Outstanding |  |  | Number of Warrants Exercisable |
August 20, 2024 |  | August 20, 2026 |  | $ | 298.88 |  |  |  | 837 |  |  |  | 837 |
December 24, 2024 |  | December 24, 2029 |  | $ | 15.94 |  |  |  | 125,471 |  |  |  | 125,471 |
December 24, 2024 |  | December 24, 2026 |  | $ | 15.94 |  |  |  | 125,471 |  |  |  | 125,471 |
December 24, 2024 |  | December 24, 2029 |  | $ | 19.93 |  |  |  | 9,409 |  |  |  | 9,409 |

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