v3.26.1
Income Taxes (Tables)
 12 Months Ended
May 31, 2026
Income Taxes [Abstract]  
Schedule of Income Tax Expense (Benefit) Reconciliations of incomes taxes computed at the statutory combined Canadian federal and provincial statutory income tax rate of 26.5% to the effective tax rate for the years ended May 31, 2026, and 2025, are as follows:

 

    2026     2025  
Canadian Statutory Tax Rate   $ (5,001 )     15 %   $ 779       15 %
Provincial Income Taxes, Net of Federal Income Tax Effect     (3,834 )     12 %     598       12 %
Nontaxable or Nondeductible Items                                
Stock-based compensation     244       -1 %     216       4 %
Financing fees recorded in equity     (1,504 )     5 %     —       0 %
Change in fair value of contingent liability     —       0 %     (5,475 )     -105 %
Change in fair value of warrants     2,927       -9 %     527       10 %
Other expenses     15       0 %     132       3 %
Change in valuation allowance     7,153       -21 %     3,223       62 %
Effective tax rate   $ —       0 %   $ —       0 %
Schedule of Deferred Tax

The following table summarizes the components of deferred tax:

 

    May 31,
2026		     May 31,
2025		  
Deferred Tax Assets            
Finance Lease Liabilities   $ 19     $ 8  
Operating tax losses carried forward     10,254       4,885  
Property and equipment     310       231  
Financing Fees     1,212       16  
Share-based compensation     594       -  
Other available tax deductions     9       -  
Valuation allowance     (12,285 )     (5,132 )
Total Deferred Tax Assets     113       8  
                 
Deferred Tax Liabilities                
Right of Use assets     (19 )     (8 )
Grant income deferred for tax purposes     (94 )     -  
Total Deferred Tax Liabilities     (113 )     (8 )
Net Deferred Tax Asset   $ -     $ -  
Schedule of Non-Capital Losses

At May 31, 2026, the Company’s Canadian non-capital losses, the benefit of which has not been recognized on the consolidated financial statements, expire as follows:

 

2040   $ 1,408  
2041     97  
2042     615  
2043     2,048  
2044     1,330  
2045     12,535  
2046     20,307  
Total   $ 38,340