v3.26.1
Shareholders Equity (Tables)
12 Months Ended
Mar. 31, 2026
Stockholders' Equity Note [Abstract]  
Schedule of Weighted-Average Common Shares Outstanding

Weighted-average Common Shares Outstanding

(in thousands, except per share amounts)

 

Year Ended March 31,

 

 

 

2026

 

 

2025

 

Net income (loss)

 

$

122

 

 

$

(3,516

)

Weighted average number of shares:

 

 

 

 

 

 

Issued common shares at beginning of period

 

 

268,993

 

 

 

211,381

 

Effect of common shares issued during period

 

 

27,642

 

 

 

27,050

 

Weighted average number of shares basic

 

 

296,635

 

 

 

238,431

 

Assumed exercise of warrants

 

 

663

 

 

 

—

 

Assumed exercise of stock options

 

 

—

 

 

 

—

 

Assumed restricted share award

 

 

1,298

 

 

 

—

 

Assumed restricted share units

 

 

2,431

 

 

 

—

 

Weighted average number of shares diluted

 

 

301,027

 

 

 

238,431

 

Net income (loss) per share, basic

 

$

0.00

 

 

$

(0.01

)

Net income (loss) per share, diluted

 

$

0.00

 

 

$

(0.01

)

Schedule of Diluted Net Loss Per Share

Anti-dilutive common share equivalents excluded from the computation of diluted net loss per share for the years ended March 31, 2026 and 2025 are as follows (in thousands):

 

 

Year Ended March 31,

 

 

 

2026

 

 

2025

 

Warrants to purchase common shares

 

 

105,879

 

 

 

69,629

 

Options to purchase common shares

 

 

1,300

 

 

 

12,283

 

Restricted share units

 

 

16,752

 

 

 

6,733

 

 

 

123,931

 

 

 

88,645

 

Summary of Stock Options The following table summarizes information regarding the options including the historical CAD$ strike prices during the year ended March 31, 2026:

 

 

 

 

 

Weighted-

 

 

Weighted-

 

 

 

 

 

 

Average

 

 

Average

 

 

 

Options

 

 

Exercise

 

 

Exercise

 

 

 

Outstanding

 

 

Price

 

 

Life (years)

 

 

 

(thousands)

 

 

(CAD$)

 

 

 

 

Balance as of March 31, 2025

 

 

12,283

 

 

$

1.04

 

 

 

3.1

 

Granted

 

 

-

 

 

 

-

 

 

 

 

Expired

 

 

(4,899

)

 

 

0.38

 

 

 

 

Forfeited

 

 

(6,084

)

 

 

1.17

 

 

 

 

Balance as of March 31, 2026

 

 

1,300

 

 

$

0.88

 

 

 

2.77

 

Summary of Warrants The following table summarizes information regarding the warrants including the historical CAD$ strike prices during the periods ended March 31, 2026 and 2025:

 

Warrants

 

 

Weighted-
Average
Exercise

 

 

Weighted-
Average
Exercise

 

 

Outstanding

 

 

Price

 

 

Life (years)

 

 

(thousands)

 

 

(CAD$)

 

 

 

 

Balance as of March 31, 2024

 

 

13,424

 

 

$

1.09

 

 

 

 

Granted

 

 

56,205

 

 

 

0.82

 

 

 

 

Balance as of March 31, 2025

 

 

69,629

 

 

 

0.82

 

 

 

2.2

 

Granted

 

 

67,002

 

 

 

0.35

 

 

 

 

Expired

 

 

(4,325

)

 

 

0.82

 

 

 

 

Balance as of March 31, 2026

 

 

132,306

 

 

$

0.54

 

 

 

2.9

 

Summary of Weighted Average Assumptions of Stock Options The fair value of the options was estimated using the Black-Scholes option pricing model with the following weighted average assumptions:

 

As of March 31,

 

 

2026

 

2025

 

Risk-free interest rate

 

 

2.9

%

 

 

2.5

%

Expected volatility

 

 

128

%

 

 

143

%

Expected life (years)

 

 

2.9

 

 

 

2.2

 

Expected dividend yield

 

 

0.0

%

 

 

0.0

%