TERM LOAN AND CREDIT AGREEMENT (Details Narrative) - USD ($) |
1 Months Ended | 9 Months Ended | 12 Months Ended | |||
|---|---|---|---|---|---|---|
Dec. 21, 2021 |
Nov. 30, 2024 |
Nov. 30, 2022 |
Dec. 31, 2024 |
Mar. 31, 2025 |
Mar. 31, 2024 |
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| Cash and Cash Equivalents [Line Items] | ||||||
| Face amount | $ 12,400,000 | $ 1,500,000 | ||||
| Maturity date | Dec. 21, 2026 | |||||
| Interest rate | 10.50% | |||||
| Interest payments due date | Feb. 15, 2022 | |||||
| Debt instrument, payment terms | Pursuant to the Credit Agreement, the Company will be required to make interest only payments for the first 24 months (which may be extended to 36 months under prescribed circumstances), after which payments will include principal amortization that accommodates a 40% balloon principal payment at maturity. The Company and the Lender have negotiated the terms under which the Company will be allowed to extend the interest-only period and delay the start of principal repayment. | |||||
| Principal repayments | $ 600,000 | $ 2,400,000 | ||||
| Loans payable current portion | 2,400,000 | |||||
| Origination fee amount | $ 120,000 | |||||
| Debt financing | 193,437 | |||||
| Professional fee | 48,484 | |||||
| Term loan exit fee | 144,953 | 1,425,000 | ||||
| Gross proceeds | 12,000,000 | |||||
| Repayment of short term debt | 1,574,068 | |||||
| Fair value of warrants | $ 1,042,149 | |||||
| Interest expense | $ 364,000 | |||||
| Warrants issued | 57,536 | |||||
| Issuance of warrants | $ 198,713 | |||||
| Proceeds from short term debt | 635,000 | $ 853,030 | ||||
| Debt instrument interest amount | $ 1,500,000 | |||||
| Warrants shares issues | 600,000 | |||||
| Warrants price per share | $ 0.50 | |||||
| Debt instrument term | 5 years | |||||
| Amortization of debt discount expense | 356,778 | 206,224 | ||||
| Interest payable current | 404,621 | 795,656 | ||||
| Term Loan [Member] | ||||||
| Cash and Cash Equivalents [Line Items] | ||||||
| Interest expense | $ 2,180,897 | $ 1,981,054 | ||||
| Cash [Member] | ||||||
| Cash and Cash Equivalents [Line Items] | ||||||
| Debt financing | $ 50,000 | |||||
| X | ||||||||||
- Definition Debt instrument interest amount. No definition available.
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- Definition Origination fee amount. No definition available.
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- Definition Amount of amortization expense attributable to debt discount (premium) and debt issuance costs. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Definition Exercise price per share or per unit of warrants or rights outstanding. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Number of securities into which each warrant or right may be converted. For example, but not limited to, each warrant may be converted into two shares. No definition available.
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- Definition Number of warrants or rights outstanding. No definition available.
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- Definition Date the debt agreement requires the first payment to be made, in YYYY-MM-DD format. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Face (par) amount of debt instrument at time of issuance. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of the fee that accompanies borrowing money under the debt instrument. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Date when the debt instrument is scheduled to be fully repaid, in YYYY-MM-DD format. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Description of the payment terms of the debt instrument (for example, whether periodic payments include principal and frequency of payments) and discussion about any contingencies associated with the payment. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Period of time between issuance and maturity of debt instrument, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
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- Definition Amount, after accumulated amortization, of debt issuance costs. Includes, but is not limited to, legal, accounting, underwriting, printing, and registration costs. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of expense (income) related to adjustment to fair value of warrant liability. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of interest expense classified as operating and nonoperating. Includes, but is not limited to, cost of borrowing accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Carrying value as of the balance sheet date of [accrued] interest payable on all forms of debt, including trade payables, that has been incurred and is unpaid. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Carrying value as of the balance sheet date of portion of long-term loans payable due within one year or the operating cycle if longer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The cash inflow from issuance of rights to purchase common shares at predetermined price (usually issued together with corporate debt). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Cash received from principal payments made on loans related to operating activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The net cash inflow or outflow in aggregate debt due to repayments and proceeds from additional borrowings. No definition available.
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- Definition The cash inflow from a borrowing having initial term of repayment within one year or the normal operating cycle, if longer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The cash outflow for a borrowing having initial term of repayment within one year or the normal operating cycle, if longer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Stated interest rate of the subordinated debt. No definition available.
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- Details
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- Details
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