The Company has exposure to credit, liquidity and market risks from its use of financial instruments. This note provides information about the Company’s exposure to each of these risk, the Company’s objectives, policies and processes for measuring and managing risk. Further quantitative disclosures are included throughout these consolidated financial statements.

Credit risk is the risk of financial loss to the Company if a counterparty to a financial instrument fails to meet its contractual obligations and arises principally from the Company’s cash held with banks and other financial intermediaries.

The carrying amount of the cash represents the maximum credit exposure which amounted to $6,438,909 and $4,228,944 as at March 31, 2026 and 2025, respectively.

The Company has assessed no significant increase in credit risk from initial recognition based on the availability of funds, the regulatory and economic environment.

Market risk is the risk that changes in market conditions, such as commodity prices, foreign exchange rates, and interest rates, will affect the Company’s net income or the value of financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable limits, while maximizing the Company’s returns.

Foreign currency exchange rate risk is the risk that the fair value of future cash flows will fluctuate as a result of changes in foreign exchange rates. The Company does not currently use foreign exchange contracts to hedge its exposure to currency rate risk as management has determined that this risk is not significant at this point in time. As such, the Company’s financial position and financial results may be adversely affected by the unfavorable fluctuations in currency exchange rates.

As at March 31, 2026 and 2025, the Company had the following monetary assets and liabilities denominated in foreign currencies:


	As of March 31,
	2026			2025
	British Pound			British Pound
Cash		255,400			696,010
AP and Accrued Liabilities		(228,503	)		(235,946	)

	As of March 31,
	2026			2025
	Euro			Euro
Cash		35,689			74,782

The accompanying consolidated financial statements have been prepared on the basis of continuity of operations, realization of assets and the satisfaction of liabilities and commitments in the ordinary course of business.

Liquidity is the ability of a company to fund its current and future operations, satisfy its obligations, and otherwise operate on an ongoing basis. At March 31, 2026, the Company had a cash balance of $6,438,909 and current liabilities of $685,024. For the year ended March 31, 2026, the Company had a net increase in cash of $2,209,965. This increase was primarily from cash received from the PIPE transaction in December 2025. See Note 16.

Until such time that the Company implements its growth strategy, it expects to continue to generate operating losses in the foreseeable future, mostly due to research and development activities, corporate overhead and costs of being a public company.

There was $12,423, $6,331 and $156,419 in revenue for the years ended March 31, 2026, 2025 and 2024, respectively. For the year ended March 31, 2026, no single customer accounted for any material revenue. For the year ended March 31, 2025, three customers accounted for 100% of the Company's revenue. For the year ended March 31, 2024, one customer accounted for 100% of the Company's revenue. There was no accounts receivable from these customers as of March 31, 2026, and 2025, respectively.

The Company aims to manage its capital resources to ensure financial strength and to maximize its financial flexibility by maintaining strong liquidity and by utilizing alternative sources of capital including equity, government grants, debt and bank loans or lines of credit to fund continued growth. The Company sets the amount of capital in proportion to risk and based on the availability of funding sources. The Company manages the capital structure and makes adjustments to it in light of changes in economic conditions and the risk characteristics of the underlying assets. As an early-stage growth company, the sale of ordinary shares has been the primary source of capital to date. Additional debt and/or equity financing may be pursued in future as deemed appropriate to fund the business. To maintain or adjust the capital structure, the Company may issue new shares, take on additional debt or sell assets to reduce debt.