v3.25.2
Stock Options
 6 Months Ended
Sep. 30, 2024
Stock Options [Abstract]  
Stock Options
13. Stock Options

 

The following table summarizes the continuity of stock options:

 

   Number of
options		   Weighted average exercise
price
($)		   Weighted average remaining
contractual
life (years)		   Aggregate
intrinsic
value
$		 
                 
Balance, March 31, 2023   485,000    0.89    1.66    103,800(*)
                     
Granted   100,000    0.60    2.93    
 
 
Exercised   –    –    –    – 
Forfeited   (75,000)   1.34    –    – 
Balance, March 31, 2024   510,000    0.77    1.124    101,350(*)
                     
Granted   –    –    –    – 
Exercised   –    –    –    – 
Forfeited   (110,000)   1.74    –    – 
                     
Balance, September 30, 2024   400,000    0.50    0.63    88,000*
Balance, September 30, 2024, vested and exercisable   400,000    0.50    0.63    88,000 

 

(*)Value represents options in-the-money as at September 30, 2024.

 

Additional information regarding stock options outstanding as at September 30, 2024 is as follows:

 

Issued and Outstanding 
Number of shares   remaining contractual
life (years)		   Exercise price
$		 
          
 20,000    0.45    1.20 
 40,000    0.45    1.20 
 40,000    0.84    1.20 
 200,000    0.09    0.10 
 20,000    1.83    0.60 
 40,000    2.33    0.60 
 40,000    2.83    0.60 
 400,000           

 

Unless otherwise noted, the Company estimates the fair value of its stock options using the Black-Scholes option pricing model, assuming no expected dividends.

 

The fair value of stock options vested and recognized during the three months and six months ended September 30, 2024 was $1,000 (2023 – $17,000) and $4,000 (2023 – $17,000), which was recorded as additional paid-in capital and charged to Management and technical consulting (2023 – salaries expense).