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Income Tax Note | 12 Months Ended
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Mar. 31, 2025
Income Tax Note [Abstract] |
Income tax note | 20. Income tax note The reconciliation of the combined Canadian federal and provincial statutory income tax rate of 26.5% (2024 – 26.5%) to the effective tax rate is as follows:
|  | 2025 |  |  | 2024 |
Net Income/(Loss) before recovery of income taxes |  |  | 1,011,790 |  |  |  | (51,159,048 | )
Expected income tax (recovery)/expense |  |  | 268,124 |  |  |  | (13,557,148 | )
Difference in foreign tax rates |  |  | 6,871 |  |  |  | 966 |
Listing expense |  |  | - |  |  |  | 10,992,625 |
Non-taxable fair value gain adjustment |  |  | (1,722,146 | ) |  |  | - |
Non-deductible loss on loan settlement |  |  | 449,196 |  |  |  | - |
Share issue costs booked to equity |  |  | (246,802 | ) |  |  | - |
Other permanent expenses |  |  | 1,787 |  |  |  | 2,061,001 |
Change in tax benefits not recognized |  |  | 1,242,970 |  |  |  | 502,556 |
Income tax (recovery)/expense |  |  | - |  |  |  | - |
Unrecognized deferred tax asset Deferred taxes are provided as a result of temporary differences that arise due to the differences between the income tax values and the carrying amounts of assets and liabilities. Deferred tax assets have not been recognized in respect of the following deductible temporary differences:
Unrecognized deductible temporary differences |  | 2025 |  |  | 2024 |
Equipment |  |  | 4,508 |  |  |  | 240 |
Restricted interest and financing expenses – Canada |  |  | 764,297 |  |  |  | - |
Share issuance costs and others |  |  | 722,097 |  |  |  | 124,132 |
Non-capital losses carried forward-Canada |  |  | 4,248,226 |  |  |  | 1,357,347 |
Non-capital losses carried forward-Australia |  |  | 431,349 |  |  |  | 164,861 |
|  |  | 6,170,477 |  |  |  | 1,646,580 |
The Company’s non-capital loss carry forwards will expire as noted in the table below:
Year of expiry |  | Canada |  |  | Australia |
2044 |  |  | 1,357,347 |  |  |  | - |
2045 |  |  | 2,890,879 |  |  |  |  |
Indefinite |  |  | - |  |  |  | 431,349 |
Total |  |  | 4,248,226 |  |  |  | 431,349 |

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