Debt (Tables)
|
3 Months Ended |
15 Months Ended |
Dec. 31, 2025 |
Dec. 31, 2025 |
| Short-Term Debt [Line Items] |
|
|
| Schedule of initial carrying amount |
|
The
table below summarizes the components used to determine the initial carrying amount of the Notes as of July 7, 2025 (in thousands):
Schedule
of initial carrying amount
| | |
Amount | |
| Principal
amount | |
$ | 7,650 | |
| Less:
original issue discount | |
| (2,118 | ) |
| Less:
issuance costs | |
| (139 | ) |
| Add:
fair value of derivative liabilities | |
| 298 | |
| Initial
carrying amount of Notes at July 7, 2025 | |
$ | 5,691 | |
|
| Schedule of carrying amount notes |
|
The
carrying amount of the Notes as of September 30, 2025 is summarized below (in thousands):
Schedule
of carrying amount notes
| | |
Amount | |
| Initial
carrying amount | |
$ | 5,691 | |
| Less:
cash payments on convertible debt | |
| (1,526 | ) |
| Add:
amortization of debt discount and issuance costs | |
| 287 | |
| Add: change in fair value of derivative liabilities | |
| — | |
| Carrying
amount of Notes at September 30, 2025 | |
$ | 4,452 | |
|
| Schedule of short-term borrowings |
|
Short-term
borrowings
Schedule of short-term borrowings
| | |
2025 | | |
2024 | |
| | |
As
of September 30, | |
| | |
2025 | | |
2024 | |
| Revolving
line of credit | |
$ | — | | |
$ | 3,555 | |
| Bank
indebtedness | |
| — | | |
| 160 | |
| Total | |
$ | — | | |
$ | 3,715 | |
|
| Schedule of term facilities |
|
Schedule of term facilities
| | |
Amount | | |
Rate | | |
Maturity
date | |
Amount | | |
Rate | | |
Maturity
date |
| | |
September
30, 2025 | |
September
30, 2024 |
| | |
Amount | | |
Rate | | |
Maturity
date | |
Amount | | |
Rate | | |
Maturity
date |
| CWB
Financial Limited | |
$ | — | | |
| — | | |
N/A | |
$ | 28,736 | | |
| 8.78 | % | |
September
2027 |
| CWB
Financial Limited | |
| — | | |
| — | | |
N/A | |
| 1,487 | | |
| 9.21 | % | |
October
2027 |
| CWB
Financial Limited | |
| — | | |
| — | | |
N/A | |
| 380 | | |
| 8.67 | % | |
November
2027 |
| Total | |
$ | — | | |
| | | |
| |
$ | 30,603 | | |
| | | |
|
|
| Schedule of other borrowings |
|
Other
borrowings
Schedule of other borrowings
| | |
Amount | | |
Rate | | |
Maturity
date | |
Amount | | |
Rate | | |
Maturity
date |
| | |
September
30, 2025 | |
September
30, 2024 |
| | |
Amount | | |
Rate | | |
Maturity
date | |
Amount | | |
Rate | | |
Maturity
date |
| CEBA
loans | |
$ | — | | |
| — | | |
N/A | |
$ | 696 | | |
| 15.00 | % | |
December
2026 |
| Macdonald
DND Site Development LP | |
| — | | |
| — | | |
N/A | |
| 719 | | |
| 3.00 | % | |
September
2024 |
| Meridian
OneCap | |
| — | | |
| — | | |
N/A | |
| 31 | | |
| 6.00 | % | |
November
2027 |
| Arbinder
Sohi | |
| — | | |
| — | | |
N/A | |
| 222 | | |
| 12.00 | % | |
On
demand |
| Total
other borrowings | |
$ | — | | |
| | | |
| |
$ | 1,668 | | |
| | | |
|
| Long-term
portion of other borrowings | |
| — | | |
| | | |
| |
| 696 | | |
| | | |
|
|
| Schedule of current and long-term portion of the term facilities |
|
The
following outlines the current and long-term portion of the term facilities during the year:
Schedule of current and long-term portion of the term facilities
| | |
2025 | | |
2024 | |
| | |
As
of September 30, | |
| | |
2025 | | |
2024 | |
| Current
portion of long-term borrowings | |
$ | — | | |
$ | 31,575 | |
| Long-term
portion | |
| — | | |
| 696 | |
| Total | |
$ | — | | |
$ | 32,271 | |
|
| Eloc Commitment Note [Member] |
|
|
| Short-Term Debt [Line Items] |
|
|
| Schedule of initial carrying amount |
The
table below summarizes the components used to determine the initial carrying amount of the ELOC Commitment Note as of October 28, 2025
(in thousands):
Schedule of initial carrying amount
| | |
Amount | |
| Principal
amount | |
$ | 20,000 | |
| Less:
original issue discount | |
| (5,000 | ) |
| Add:
fair value of derivative liabilities | |
| 5,000 | |
| Initial
carrying amount of the ELOC Commitment Note at October 28, 2025 | |
$ | 20,000 | |
|
|
| Schedule of carrying amount notes |
The
carrying amount of the ELOC Commitment Note as of December 31, 2025 is summarized below (in thousands):
Schedule of carrying amount notes
| | |
Amount | |
| Initial
carrying amount | |
$ | 20,000 | |
| Add:
amortization of debt discount | |
| 1,028 | |
| Add: change in fair value of derivative liabilities | |
| — | |
| Carrying amount of the ELOC Commitment Note at December 31, 2025 | |
$ | 21,028 | |
|
|
| July Twenty Twenty Five Convertible Notes [Member] |
|
|
| Short-Term Debt [Line Items] |
|
|
| Schedule of initial carrying amount |
The
table below summarizes the components used to determine the initial carrying amount of the July 2025 Notes as of July 7, 2025 (in thousands):
Schedule of initial carrying amount
| | |
Amount | |
| Principal
amount | |
$ | 7,650 | |
| Less:
original issue discount | |
| (2,118 | ) |
| Less:
issuance costs | |
| (139 | ) |
| Add:
fair value of derivative liabilities | |
| 298 | |
| Initial
carrying amount of the July 2025 Notes at July 7, 2025 | |
$ | 5,691 | |
|
|
| Schedule of carrying amount notes |
The
carrying amount of the July 2025 Notes as of September 30, 2025 is summarized below (in thousands):
Schedule of carrying amount notes
| | |
Amount | |
| Initial
carrying amount | |
$ | 5,691 | |
| Less:
cash payments on convertible debt | |
| (1,526 | ) |
| Add:
amortization of debt discount and issuance costs | |
| 287 | |
| Add:
change in fair value of derivative liabilities | |
| — | |
| Less: settlement of July 2025 Notes | |
| | |
| Carrying
amount of the July 2025 Notes at September 30, 2025 | |
$ | 4,452 | |
The
carrying amount of the July 2025 Notes as of December 31, 2025 is summarized below (in thousands):
| | |
Amount | |
| Initial
carrying amount | |
$ | 4,452 | |
| Less:
settlement of July 2025 Notes | |
| (4,452 | ) |
| Carrying
amount of the July 2025 Notes at December 31, 2025 | |
$ | — | |
|
|