v3.26.1
Shareholders Equity (Tables)
3 Months Ended
Jun. 30, 2026
Stockholders' Equity Note [Abstract]  
Schedule of Weighted-Average Common Shares Outstanding

Weighted-average Common Shares Outstanding

(in thousands, except per share amounts)

 

Three Months Ended June 30,

 

 

 

2026

 

 

2025

 

Net income (loss)

 

$

(28

)

 

$

1,688

 

Weighted average number of shares:

 

 

 

 

 

 

Issued common shares at beginning of period

 

 

343,034

 

 

 

268,993

 

Effect of common shares issued during period

 

 

18,923

 

 

 

2,062

 

Weighted average number of shares basic

 

 

361,957

 

 

 

271,055

 

Assumed exercise of warrants

 

 

—

 

 

 

4,406

 

Assumed exercise of stock options

 

 

—

 

 

 

1,963

 

Weighted average number of shares diluted

 

 

361,957

 

 

 

277,424

 

Weighted average number of shares diluted

 

 

361,957

 

 

 

277,424

 

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 three months ended June 30, 2026 and 2025 are as follows (in thousands):

 

 

Three Months Ended June 30,

 

 

 

2026

 

 

2025

 

Warrants to purchase common shares

 

 

140,195

 

 

 

—

 

Options to purchase common shares

 

 

1,300

 

 

 

—

 

Restricted share units

 

 

16,752

 

 

 

—

 

 

 

158,247

 

 

 

—

 

Summary of Stock Options The following table summarizes information regarding the options including the historical CAD$ strike prices during the three months ended June 30, 2026:

 

 

 

 

 

Weighted-

 

 

Weighted-

 

 

 

 

 

 

Average

 

 

Average

 

 

 

Options

 

 

Exercise

 

 

Exercise

 

 

 

Outstanding

 

 

Price

 

 

Life (years)

 

 

 

(thousands)

 

 

(CAD$)

 

 

 

 

Balance as of March 31, 2026

 

 

1,300

 

 

$

0.88

 

 

 

2.77

 

Granted

 

 

—

 

 

 

—

 

 

 

 

Expired

 

 

—

 

 

 

—

 

 

 

 

Forfeited

 

 

—

 

 

 

—

 

 

 

 

Balance as of June 30, 2026

 

 

1,300

 

 

$

0.88

 

 

 

2.52

 

 

Summary of Warrants The following table summarizes information regarding the warrants including the historical CAD$ strike prices during the periods ended June 30, 2026 and 2025:

 

Warrants

 

 

Weighted-
Average
Exercise

 

 

Weighted-
Average
Exercise

 

 

Outstanding

 

 

Price

 

 

Life (years)

 

 

(thousands)

 

 

(CAD$)

 

 

 

 

Balance as of March 31, 2026

 

 

132,306

 

 

$

0.54

 

 

 

2.9

 

Granted

 

 

34,315

 

 

 

0.15

 

 

 

 

Balance as of June 30, 2026

 

 

166,621

 

 

$

0.46

 

 

 

2.9

 

 

 

Warrants Outstanding

 

 

Weighted Average Exercise Price

 

 

Weighted Average Exercise Life (Years)

 

 

(thousands)

 

 

(CAD$)

 

 

 

 

Balance as of March 31, 2025

 

 

69,629

 

 

$

0.82

 

 

 

2.2

 

Granted

 

 

2,346

 

 

 

0.51

 

 

 

 

Balance as of June 30, 2025

 

 

71,975

 

 

$

0.81

 

 

 

2.0

 

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 June 30,

 

 

2026

 

2025

 

Risk-free interest rate

 

 

2.9

%

 

 

2.7

%

Expected volatility

 

 

127

%

 

 

146

%

Expected life (years)

 

 

2.9

 

 

 

2.0

 

Expected dividend yield

 

 

0.0

%

 

 

0.0

%