Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Stockholder's equity (Tables)

v3.24.2.u1
Stockholder's equity (Tables)
 12 Months Ended
Mar. 31, 2024
Disclosure of classes of share capital [abstract]  
Summary of Activity Related to Outstanding Warrants

The following summarizes activity related to the Company's outstanding warrants for the years ended March 31, 2024, 2023 and 2022:

 

Warrants

 

 

Weighted Average Exercise Price

 

 

Weighted Average Remaining Contractual Life (Years)

 

At March 31, 2021

 

—

 

 

 

—

 

 

 

—

 

Granted

 

—

 

 

 

—

 

 

 

—

 

Exercised

 

—

 

 

 

—

 

 

 

—

 

Cancelled

 

—

 

 

 

—

 

 

 

—

 

At March 31, 2022

 

—

 

 

 

—

 

 

 

—

 

Granted

 

1,472,174

 

 

$

8.70

 

 

 

—

 

Exercised

 

(127,367

)

 

$

—

 

 

 

—

 

Cancelled

 

(349,500

)

 

$

4.00

 

 

 

—

 

At March 31, 2023

 

995,307

 

 

$

6.12

 

 

 

5.5

 

Granted

 

1,519,529

 

 

$

2.96

 

 

 

—

 

Exercised

 

(968,403

)

 

$

2.21

 

 

 

—

 

Cancelled

 

—

 

 

$

—

 

 

 

—

 

At March 31, 2024

 

1,546,433

 

 

$

3.05

 

 

 

4.5

 

Warrants exercisable as of March 31, 2024

 

1,546,433

 

 

$

3.05

 

 

 

4.5

 
Summary of Calculation of Fair Value of Awards using Black-Scholes Option-Pricing Model Affected by Stock Price on Date of Grant as well as Assumptions

The Company uses the Black-Scholes option-pricing model to estimate the fair value of its stock option awards. The calculation of the fair value of the awards using the Black-Scholes option-pricing model is affected by the Company’s stock price on the date of grant as well as assumptions regarding the following:

 

As of March 31, 2024

 

As of March 31, 2023

 

As of March 31, 2022

 

Expected volatility

212.26% - 260.62%

 

85.52% - 353.14%

 

 

—

 

Expected term

5 years

 

5 years

 

 

—

 

Risk-free interest rate

3.66% - 4.61%

 

2.60% - 3.041%

 

 

—

 

Dividend yield

 

—

 

 

—

 

 

—

 

Forfeiture rate

0.00%

 

0.00%

 

 

—

 

Note there were no stock options to value for the year ended March 31, 2022
Summary of Status of Outstanding Stock Options and Changes

A summary of the status of the Company’s outstanding stock options as of March 31, 2024 and changes during the periods ending on that date is as follows:

 

Shares

 

 

Exercise Price

 

 

Grant Date Fair Value

 

 

Aggregate Intrinsic Value

 

 

Weighted Average Remaining Term (Years)

 

Options

 

 

 

 

 

 

 

 

 

 

 

 

 

 

At March 31, 2021

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Granted

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Exercised

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Expired

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Forfeiture

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

At March 31, 2022

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Granted

 

123,200

 

 

$

48.60

 

 

$

33.60

 

 

 

—

 

 

 

10.0

 

Exercised

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Expired

 

(2,000

)

 

$

50.00

 

 

$

34.30

 

 

 

—

 

 

 

—

 

Forfeiture

 

—

 

 

$

—

 

 

$

—

 

 

 

—

 

 

 

—

 

At March 31, 2023

 

121,200

 

 

$

20.33

 

 

$

33.62

 

 

 

—

 

 

 

9.3

 

Granted

 

199,000

 

 

$

5.73

 

 

$

5.76

 

 

 

—

 

 

 

10.0

 

Exercised

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Expired

 

(166

)

 

$

115.50

 

 

$

114.10

 

 

 

—

 

 

 

—

 

Forfeiture

 

(77,834

)

 

$

6.59

 

 

$

20.13

 

 

 

—

 

 

 

—

 

At March 31, 2024

 

242,200

 

 

$

12.69

 

 

$

15.01

 

 

 

—

 

 

 

8.8

 

Exercisable at March 31, 2024

 

2,166

 

 

$

14.04

 

 

$

12.39

 

 

 

—

 

 

 

6.7