Income tax (Tables)
|
12 Months Ended |
Mar. 31, 2026 |
|---|
| Major components of tax expense (income) [abstract] |
|
| Reconciliation of Income Taxes at Statutory Rates |
A reconciliation of income taxes at statutory rates with the reported taxes is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Year Ended March 31, |
|
|
|
2026 |
|
|
2025 |
|
|
2024 |
|
Loss for the year |
|
$ |
(5,032,184 |
) |
|
$ |
(6,067,232 |
) |
|
$ |
(6,739,120 |
) |
|
|
|
|
|
|
|
|
|
|
Expected income tax (recovery) |
|
|
(1,225,526 |
) |
|
|
(1,014,891 |
) |
|
|
(821,664 |
) |
Change in statutory, foreign tax, foreign exchange rates and other |
|
|
(22,810 |
) |
|
|
65,781 |
|
|
|
9,519 |
|
Permanent Difference |
|
|
9 |
|
|
|
252 |
|
|
|
181,257 |
|
Provision to NOLs |
|
|
(2,027,434 |
) |
|
|
927,476 |
|
|
|
181,755 |
|
Change in unrecognized deductible temporary differences |
|
|
2,375,521 |
|
|
|
(115,279 |
) |
|
|
449,133 |
|
Total income tax expense (recovery) |
|
$ |
(900,240 |
) |
|
$ |
(136,661 |
) |
|
$ |
— |
|
|
| Summary of Net Deferred Tax Asset (Liability) |
|
|
|
|
|
|
|
|
|
|
|
As of March 31, |
|
|
|
2026 |
|
|
2025 |
|
Deferred Tax Assets (liabilities) |
|
|
|
|
|
|
Unrealized gain/loss |
|
$ |
(21 |
) |
|
$ |
17,145 |
|
Foreign currency (OCI) |
|
|
(143,818 |
) |
|
|
10,383 |
|
Intangible assets |
|
|
— |
|
|
|
— |
|
Depreciation |
|
|
(292,198 |
) |
|
|
(296,736 |
) |
Non-capital losses available for future period |
|
|
2,935,021 |
|
|
|
1,597,167 |
|
|
|
|
2,498,984 |
|
|
|
1,327,959 |
|
Unrecognized deferred tax assets |
|
|
(2,498,984 |
) |
|
|
(1,327,959 |
) |
Net deferred tax asset (liability) |
|
$ |
— |
|
|
$ |
— |
|
|
| Summary of Temporary Differences |
The significant components of the Company’s temporary differences, unused tax credits and unused tax losses that have not been included on the consolidated statement of financial position are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31, 2026 |
|
|
Expiry Date Range |
|
March 31, 2025 |
|
|
Expiry Date Range |
Temporary Differences |
|
|
|
|
|
|
|
|
|
|
Non-capital losses available for future period - finite |
|
$ |
109,719 |
|
|
5 years |
|
$ |
704,429 |
|
|
5 years |
Non-capital losses available for future period |
|
$ |
2,032,440 |
|
|
No expiry date |
|
$ |
6,639,511 |
|
|
No expiry date |
|