v3.25.2
Stock Options
 9 Months Ended
Dec. 31, 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   (200,000)   0.10    –    
–
 
Forfeited   (110,000)   1.74    –    
–
 
                     
Balance, December 31, 2024   200,000    0.90    1.27    102,000 
Balance, December 31, 2024, vested and exercisable   200,000    0.90    1.27    102,000 

 

(*) Value represents options in-the-money as at December 31, 2024.

 

Additional information regarding stock options outstanding as at December 31, 2024 is as follows:

 

Issued and Outstanding 
Number of shares   remaining contractual
life (years)		   Exercise price
$		 
          
 20,000    0.20    1.20 
 40,000    0.20    1.20 
 40,000    0.58    1.20 
 20,000    1.58    0.60 
 40,000    2.08    0.60 
 40,000    2.58    0.60 
 200,000           

 

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 nine months ended December 31, 2024 was nil (2023 – $14,000) and $4,000 (2023 – $32,000), which was recorded as additional paid-in capital and charged to Management and technical consulting (2023 – salaries expense).