Mandatory convertible debentures (FY) |
6 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jan. 31, 2025 |
Jul. 31, 2024 |
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| Mandatory Convertible Debenture [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mandatory convertible debentures |
On January 12, 2024, the Company closed a tranche of unsecured convertible
notes in the principal amount of $100,000 that bear interest at the rate of 15% per annum, payable only in Company securities on the Conversion Date, or payable in cash in connection with a Liquidating Event or Event of Default.
In the event the Company completes a De-SPAC transaction, the principal
amount and accrued interest automatically convert into SVS of the Company as follows:
In the event the Company does not complete a De-SPAC transaction by
October 8, 2024 (270 days from the issuance date of the notes), the principal and accrued interest are automatically convertible
into units consisting of one SVS and
of a share purchase warrant, as follows:
The conversion price is subject to certain anti-dilution provisions.
The mandatory convertible debentures were liabilities classified and
initially recorded at fair value with subsequent changes in fair value being recorded in profit and loss (“FVTPL”). The initial fair value was estimated to be $100,000. During the year ended July 31, 2024, the Company recognized a change in fair value of $27,500 using a Monte Carlo Simulation. In October 2024, the mandatory convertible debentures were revalued to $57,000 using a Monte Carlo Simulation and were converted to 22,448
shares of the Company. The debenture holders were also supposed to receive 11,224 warrants. As of the date of these financial
statements, these warrants have not yet been issued. The Company recorded a gain on revaluation during the six months ended January 31, 2025 of $70,500.
In connection with the issuance of these mandatory convertible debentures,
the Company incurred $7,545 in directly attributable transaction costs which were recorded immediately in the consolidated
statement of profit and loss as general and administrative expenses.
Continuity of the Company’s mandatory convertible debentures is as follows:
The key inputs used in the Monte Carlo model for the revaluation of the
mandatory convertible debentures as at July 31, 2024 are set out in the table below. In October 2024, the mandatory convertible debentures were automatically converted into shares and warrants to be issued. Immediately prior to conversion,
the Company revalued the mandatory convertible debentures. The fair value of the shares were valued using a share price of $0.34
and the warrants using the Black-Scholes option pricing model (Note 13).
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| DevvStream Holdings, Inc. [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mandatory Convertible Debenture [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mandatory convertible debentures |
On January 12, 2024, the Company closed a tranche of unsecured convertible notes
in the principal amount of $100,000 that bear interest at the rate of 15% per annum, payable only in Company securities on the Conversion Date, or payable in cash in connection with a Liquidating Event or Event of Default.
In the event the Company completes a De-SPAC transaction, the principal amount
and accrued interest automatically convert into SVS of the Company as follows:
In the event the Company does not complete a De-SPAC transaction by October 8,
2024 (270 days from the issuance date of the notes), the principal and accrued interest are automatically convertible into units
consisting of one SVS and
of a share purchase warrant, as follows:
The conversion price is subject to certain anti-dilution provisions.
The mandatory convertible debentures are liability classified and initially
recorded at fair value with subsequent changes in fair value being recorded in profit and loss (“FVTPL”). The initial fair value was estimated to be $100,000.
As at July 31, 2024, the Company revalued the mandatory convertible debentures using a Monte Carlo Simulation and recorded a change in fair value of $27,500
as an unrealized loss on mandatory convertible debentures.
In connection with the issuance of these mandatory convertible debentures, the
Company incurred $7,545 in directly attributable transaction costs which were recorded immediately in the consolidated statement of
profit and loss as general and administrative expenses.
A continuity of the Company’s mandatory convertible debentures is as follows:
The key inputs used in the Monte Carlo model for the revaluation of the
mandatory convertible debentures as at July 31, 2024 were as follows:
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