v3.26.1
Shareholders Equity (Tables)
3 Months Ended
Jun. 30, 2026
Stockholders' Equity Note [Abstract]  
Schedule of Weighted-Average Common Shares Outstanding

Weighted-average Common Shares Outstanding

(in thousands, except per share amounts)

 

Three Months Ended June 30,

 

 

 

2026

 

 

2025

 

Net income (loss)

 

$

(28

)

 

$

1,688

 

Weighted average number of shares:

 

 

 

 

 

 

Issued common shares at beginning of period

 

 

343,034

 

 

 

268,993

 

Effect of common shares issued during period

 

 

18,923

 

 

 

2,062

 

Weighted average number of shares basic

 

 

361,957

 

 

 

271,055

 

Assumed exercise of warrants

 

 

 

 

 

4,406

 

Assumed exercise of stock options

 

 

 

 

 

1,963

 

Weighted average number of shares diluted

 

 

361,957

 

 

 

277,424

 

Weighted average number of shares diluted

 

 

361,957

 

 

 

277,424

 

Net income (loss) per share, basic

 

$

(0.00

)

 

$

0.01

 

Net income (loss) per share, diluted

 

$

(0.00

)

 

$

0.01

 

Schedule of Diluted Net Loss Per Share

Anti-dilutive common share equivalents excluded from the computation of diluted net loss per share for the three months ended June 30, 2026 and 2025 are as follows (in thousands):

 

 

Three Months Ended June 30,

 

 

 

2026

 

 

2025

 

Warrants to purchase common shares

 

 

140,195

 

 

 

 

Options to purchase common shares

 

 

1,300

 

 

 

 

Restricted share units

 

 

16,752

 

 

 

 

 

 

158,247

 

 

 

 

Summary of Stock Options The following table summarizes information regarding the options including the historical CAD$ strike prices during the three months ended June 30, 2026:

 

 

 

 

 

Weighted-

 

 

Weighted-

 

 

 

 

 

 

Average

 

 

Average

 

 

 

Options

 

 

Exercise

 

 

Exercise

 

 

 

Outstanding

 

 

Price

 

 

Life (years)

 

 

 

(thousands)

 

 

(CAD$)

 

 

 

 

Balance as of March 31, 2026

 

 

1,300

 

 

$

0.88

 

 

 

2.77

 

Granted

 

 

 

 

 

 

 

 

 

Expired

 

 

 

 

 

 

 

 

 

Forfeited

 

 

 

 

 

 

 

 

 

Balance as of June 30, 2026

 

 

1,300

 

 

$

0.88

 

 

 

2.52

 

 

Summary of Warrants The following table summarizes information regarding the warrants including the historical CAD$ strike prices during the periods ended June 30, 2026 and 2025:

 

Warrants

 

 

Weighted-
Average
Exercise

 

 

Weighted-
Average
Exercise

 

 

Outstanding

 

 

Price

 

 

Life (years)

 

 

(thousands)

 

 

(CAD$)

 

 

 

 

Balance as of March 31, 2026

 

 

132,306

 

 

$

0.54

 

 

 

2.9

 

Granted

 

 

34,315

 

 

 

0.15

 

 

 

 

Balance as of June 30, 2026

 

 

166,621

 

 

$

0.46

 

 

 

2.9

 

 

 

Warrants Outstanding

 

 

Weighted Average Exercise Price

 

 

Weighted Average Exercise Life (Years)

 

 

(thousands)

 

 

(CAD$)

 

 

 

 

Balance as of March 31, 2025

 

 

69,629

 

 

$

0.82

 

 

 

2.2

 

Granted

 

 

2,346

 

 

 

0.51

 

 

 

 

Balance as of June 30, 2025

 

 

71,975

 

 

$

0.81

 

 

 

2.0

 

Summary of Weighted Average Assumptions of Stock Options The fair value of the options was estimated using the Black-Scholes option pricing model with the following weighted average assumptions:

 

As of June 30,

 

 

2026

 

2025

 

Risk-free interest rate

 

 

2.9

%

 

 

2.7

%

Expected volatility

 

 

127

%

 

 

146

%

Expected life (years)

 

 

2.9

 

 

 

2.0

 

Expected dividend yield

 

 

0.0

%

 

 

0.0

%