Stockholder's equity (Tables)
|
12 Months Ended |
Mar. 31, 2025 |
|---|
| 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, 2025, 2024 and 2022:
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Warrants |
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|
Weighted Average Exercise Price |
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|
Weighted Average Remaining Contractual Life (Years) |
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At March 31, 2022 |
|
— |
|
|
|
— |
|
|
|
— |
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Granted |
|
1,472,174 |
|
|
$ |
8.70 |
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|
|
— |
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Exercised |
|
(127,367 |
) |
|
$ |
— |
|
|
|
— |
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Cancelled |
|
(349,500 |
) |
|
$ |
4.00 |
|
|
|
— |
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At March 31, 2023 |
|
995,307 |
|
|
$ |
6.12 |
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|
|
5.5 |
|
Granted |
|
1,519,529 |
|
|
$ |
2.96 |
|
|
|
— |
|
Exercised |
|
(968,403 |
) |
|
$ |
2.21 |
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|
|
— |
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Cancelled |
|
- |
|
|
$ |
— |
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|
|
— |
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At March 31, 2024 |
|
1,546,433 |
|
|
$ |
3.05 |
|
|
|
4.5 |
|
Granted |
|
77,622 |
|
|
$ |
5.63 |
|
|
|
— |
|
Exercised |
|
(268,144 |
) |
|
$ |
2.93 |
|
|
|
— |
|
Cancelled |
|
— |
|
|
$ |
— |
|
|
|
— |
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At March 31, 2025 |
|
1,355,911 |
|
|
$ |
3.21 |
|
|
|
3.6 |
|
Warrants exercisable as of March 31, 2025 |
|
1,355,911 |
|
|
$ |
3.21 |
|
|
|
3.6 |
|
|
| Disclosure of Fair Value of Warrants Issued Using Black Scholes Option Valuation Model |
The fair value of agents’ warrants issued during the years ended March 31, 2025 and 2024 was estimated using the Black-Scholes option valuation model with the following assumptions:
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As of March 31, 2025 |
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As of March 31, 2024 |
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Expected volatility |
198.71% |
|
209.89% |
|
Expected term |
3 years |
|
3 years |
|
Risk-free interest rate |
3.73% |
|
4.73% |
|
Dividend yield |
|
— |
|
|
— |
|
Forfeiture rate |
0.00% |
|
0.00% |
|
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| 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:
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As of March 31, 2025 |
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As of March 31, 2024 |
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As of March 31, 2023 |
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Expected volatility |
183.05% - 183.05% |
|
212.26% - 260.62% |
|
85.52% - 353.14% |
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Expected term |
5 years |
|
5 years |
|
5 years |
|
Risk-free interest rate |
4.68% - 4.68% |
|
3.66% - 4.61% |
|
2.60% - 3.041% |
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Dividend yield |
|
— |
|
|
— |
|
|
— |
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Forfeiture rate |
0.00% |
|
0.00% |
|
0.00% |
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| 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, 2025, 2024 and 2023 and changes during the periods ending on that date is as follows:
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Shares |
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|
Exercise Price |
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|
Grant Date Fair Value |
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|
Aggregate Intrinsic Value |
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|
Weighted Average Remaining Term (Years) |
|
Options |
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|
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|
|
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At March 31, 2022 |
|
— |
|
|
|
— |
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|
|
— |
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|
|
— |
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|
|
— |
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Granted |
|
123,200 |
|
|
$ |
48.60 |
|
|
$ |
33.60 |
|
|
|
— |
|
|
|
10.0 |
|
Exercised |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
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Expired |
|
(2,000 |
) |
|
$ |
50.00 |
|
|
$ |
34.30 |
|
|
|
— |
|
|
|
— |
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Forfeiture |
|
— |
|
|
|
— |
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|
|
— |
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|
|
— |
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|
— |
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At March 31, 2023 |
|
121,200 |
|
|
$ |
20.33 |
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|
$ |
33.62 |
|
|
|
— |
|
|
|
9.3 |
|
Granted |
|
199,000 |
|
|
$ |
5.73 |
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|
$ |
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 |
|
Granted |
|
213,000 |
|
|
$ |
0.68 |
|
|
$ |
0.67 |
|
|
|
— |
|
|
|
10.0 |
|
Exercised |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Expired |
|
(8,433 |
) |
|
$ |
6.14 |
|
|
$ |
18.62 |
|
|
|
— |
|
|
|
— |
|
Forfeiture |
|
(29,435 |
) |
|
$ |
6.02 |
|
|
$ |
17.66 |
|
|
|
— |
|
|
|
— |
|
At March 31, 2025 |
|
417,332 |
|
|
$ |
7.15 |
|
|
$ |
7.36 |
|
|
|
— |
|
|
|
8.5 |
|
Exercisable at March 31, 2025 |
|
87,372 |
|
|
$ |
15.47 |
|
|
$ |
16.59 |
|
|
|
— |
|
|
|
7.8 |
|
|