v3.26.1
Lease Obligations
 9 Months Ended 12 Months Ended
Mar. 31, 2026
Jun. 30, 2025
Lease Obligations [Abstract]    
LEASE OBLIGATIONS
8.
LEASE OBLIGATIONS
The Company is committed to minimum lease payments as follows:
 
Maturity Analysis
   
March 31,
2026
  
    
$
  
Year 1
      401,445  
Year 2
      31,323  
Year 3
      —   
Year 4
      —   
Year 5
      —   
More than five years
      —   
  
 
 
  
Total undiscounted lease liabilities
      432,768  
Less: imputed interest
      (12,621 ) 
  
 
 
  
Present value of lease liabilities
      420,147  
Less: Current portion of lease liabilities
      (389,381 ) 
  
 
 
  
Non-current
portion of lease liabilities
      30,766  
  
 
 
  
On July 29, 2024, the Company entered into a lease agreement for office space in Vancouver, British Columbia. This office occupies approximately 2,243 square feet with a monthly basic rental rate and operating charges of an estimated C$12,296 for the
two-year
term of the agreement. The Company used an incremental borrowing rate of 7% and recognized a ROU asset and corresponding operating lease liability of $205,201.
On October 5, 2023, BayMedica amended its lease located in South San Francisco, California, in order to extend its lease to May 14, 2027. The Company is obligated to pay $1,295,759 over the three-year period unless terminated before the end of the period. The Company used an incremental borrowing rate of 6.15% and recognized a ROU asset and corresponding operating lease liability of $953,935. The Company can terminate the lease with three months’ written notice and a payment of $187,938.
 
9.
LEASE OBLIGATIONS
The Company is committed to minimum lease payments as follows:
 
Maturity Analysis
   
June 30,
2025
  
    
$
  
Year 1
      475,087  
Year 2
      313,230  
Year 3
      —   
Year 4
      —   
Year 5
      —   
More than five years
      —   
  
 
 
  
Total undiscounted lease liabilities
      788,317  
Less: imputed interest
      (47,055 ) 
  
 
 
  
Present value of lease liabilities
      741,262  
Less: Current portion of lease liabilities
      (435,507 ) 
  
 
 
  
Non-current
portion of lease liabilities
      305,755  
  
 
 
  
On July 29, 2024, the Company entered into a lease agreement for new office space in Vancouver, British Columbia. This office occupies approximately 2,243 square feet with a monthly basic rental rate and operating charges of an estimated C$12,296 for the
two-year
term of the agreement. The Company used an incremental borrowing rate of 7% and recognized an ROU asset and corresponding operating lease liability of $205,201.
On October 5, 2023, BayMedica amended its lease located in South San Francisco, California, in order to extend its lease to May 14, 2027. The Company is obligated to pay $1,295,759 over the three-year period unless terminated before the end of the period. The Company used an incremental borrowing rate of 6.15% and recognized a ROU asset and corresponding operating lease liability of $953,935. The Company can terminate the lease with three months’ written notice and a payment of $187,938.