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STOCKHOLDERS’ DEFICIENCY (Tables)
3 Months Ended
Jun. 30, 2024
Equity [Abstract]  
SCHEDULE OF SERIES B PREFERRED STOCK FOR MEZZANINE EQUITY

 

   Fiscal Year 2025 
   $ 
Balance beginning of year – March 31   1,488,920 
Net proceeds received pursuant to the issuance of preferred shares   1,312,532 
Recognition of derivative liabilities (Note 8)   (472,341)
Conversion into common shares   (142,908)
Balance end of year – June 30   2,186,203 

SCHEDULE OF WARRANTS OUTSTANDING

Warrant activity during the three months ended June 30, 2024 is indicated below:

 

SCHEDULE OF WARRANTS OUTSTANDING

   Broker Warrants   Consultant and Noteholder Warrants   Warrants Issued on Convertible Notes   Total 
As at March 31, 2024   208,927    253,994    868,098    1,331,019 
Expired/cancelled                
Exercised                
Issued                
As at June 30, 2024   208,927    253,994    868,098    1,331,019 
Exercise Price   $ 2.09 to $22.50    $ 2.69 to $14.40   $4.18      
Expiration Date   August 2026 to October 2033    March 2029 to Dec 2032    October 2027      
SCHEDULE OF STOCK OPTION ACTIVITIES

The following table summarizes the stock option activities during the three months ended June 30, 2024:

 

  

Number of

Options

  

Weighted

Average

Exercise

Price

 
         
Outstanding at March 31, 2024   1,239,873   $9.39 
Granted   41,559   $18.78 
Exercised      $ 
Expired   (54,219)  $12.57 
Forfeited   (12,500)  $8.28 
Outstanding at June 30, 2024   1,214,713   $9.69 
SCHEDULE OF FAIR VALUE OF OPTION GRANTED USING VALUATION ASSUMPTIONS

The fair value of each option granted is estimated at the time of grant using multi-nominal lattice model using the following assumptions, for each of the respective three month periods ended June 30:

 

  

June 30,

2024
  

June 30,

2023
 
Exercise price ($)   1.48    0.47 
Risk free interest rate (%)   4.33%   3.85 
Expected term (Years)   5.5-6.5    10.0 
Expected volatility (%)   107.7%-109.8%   117.1 
Expected dividend yield (%)   0    0.00 
Fair value of option ($)   0.689-0.733    0.384 
Expected forfeiture (attrition) rate (%)   0    0.00