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Material Accounting Policies (Tables)
 12 Months Ended
Mar. 31, 2025
Material Accounting Policies [Abstract]  
Schedule of Classification and Measurements of Financial Assets and Liabilities

Summary of the Company’s classification and measurements of financial assets and liabilities:

 

Financial Assets and Liabilities   Classification   Measurement
Cash and cash equivalents   Amortized cost   Amortized cost
Restricted cash   Amortized cost   Amortized cost
Other receivables   Amortized cost   Amortized cost
Investment in Psyence Labs Ltd   FVTPL   Fair value
Accounts payable and accrued liabilities   Amortized cost   Amortized cost
Derivative warrant liability   FVTPL   Fair value
Convertible note liability   FVTPL   Fair value
Due to NCAC Sponsor   FVTPL   Fair value
Due to Psyence Group Inc   FVTPL   Fair value
​Schedule of Change in Presentation Currency

The change in presentation currency is a voluntary change which is accounted for retrospectively. For comparative reporting purposes, historical financial information has been translated to United States dollars which is disclosed in the tables below:

 

Change in presentation currency  March 31, 2023
Reported CAD $		   Foreign Currency
Translation		   March 31, 2023
Restated
USD
$		 
EQUITY               
Net equity   (271,275)   70,830    (200,445)
NET DEFICIT   (271,275)   70,830    (200,445)

 

Change in presentation currency  March 31, 2022
Reported CAD $		   Foreign Currency
Translation		   March 31, 2022
Restated
USD
$		 
EQUITY               
Net equity   2,122,696    (423,996)   1,698,700 
NET DEFICIT   2,122,696    (423,996)   1,698,700 

 

Change in presentation currency  March 31, 2023
Reported CAD $		   Foreign Currency
Translation		   March 31, 2023
Restated
USD
$		 
Expenses            
Sales and marketing   9,292    (2,263)   7,029 
Research and development   2,126,762    (517,867)   1,608,895 
General and administrative   484,382    (117,947)   366,435 
Professional and consulting fees   1,655,663    (403,153)   1,252,510 
Loss before other items   (4,276,099)   1,041,230   (3,234,869)
Other items               
Interest income   2,054    (500)   1,554 
Foreign exchange gain   35,574    (8,662)   26,912 
NET LOSS   (4,238,471)   1,032,068   (3,206,403)
Change in presentation currency  March 31, 2023
Reported CAD $		   Foreign Currency
Translation		   March 31, 2023
Restated
USD
$		 
Net loss   (4,238,471)   1,032,068    (3,206,403)
Non-cash adjustment:               
Share based compensation   292,756    (71,469)   221,287 
Foreign exchange   
-
    (84,499)   (84,499)
                
Changes in working capital:               
Other receivables   (152,778)   42,920    (109,858)
Prepaids   (97,547)   25,882    (71,665)
Accounts payable and accrued liabilities   2,258,967    (599,909)   1,659,058 
Cash used in operating activities   (1,937,073)   344,993    (1,592,080)
                
Proceeds received from Psyence Group Inc   1,551,744    (378,821)   1,172,923 
Cash provided from financing activities   1,551,744    (378,821)   1,172,923 
                
Change in cash and cash equivalents   (385,329)   (33,828)   (419,157)
Cash and cash equivalents, start of year   2,191,095    (437,658)   1,753,437 
Cash and cash equivalents, end of year   1,805,765    (471,486)   1,334,280