v3.26.1
Investments (Tables)
 3 Months Ended
Jun. 30, 2026
Investments [Abstract]  
Schedule of Investments

 

    As of
June 30,
2026		     As of
March 31, 
2026		  
Equity Securities            
DataCentrex Inc. common shares   $ -     $ 370,296  
21Shares Dogecoin ETF(TDOG) common shares     1,132,997       -  
Stay Inc. common shares     1,200,000       1,200,000  
CleanCore Solutions Inc. Class B common shares     10,659,999       3,204,000  
Equity securities     12,992,996       4,774,296  
Unsecured convertible debt securities:                
McQueen Labs Inc. - Tranche I     1,177,884       1,178,432  
McQueen Labs Inc. - Tranche II     479,059       479,282  
Unsecured convertible debt securities     1,656,943       1,657,714  
McQueen Labs Inc. Series F convertible preferred shares     265,679       235,024  
Preferred stock     265,679       235,024  
Common stock purchase warrants                
CleanCore Solutions Inc. pre-funded warrants     819,916       355,918  
CleanCore Solutions Inc. strategic advisory services warrants     9,078,553       3,567,386  
Common stock purchase warrants     9,898,469       3,923,304  
Equity-method investment:                
LBK Triestina Holdings LLC     -       -  
Total Investments   $ 24,814,087     $ 10,590,338  
                 
Short-term investments     1,656,943       2,028,010  
Long-term investments   $ 23,157,144     $ 8,562,328  
Schedule of Disposition Result

June 2026 disposition

 

Disposition result   Three months
ended
June 30,
2026		  
Net proceeds from sale of 172,231 common shares   $ 366,607  
Carrying amount derecognized     (370,296 )
Loss on disposal   $ (3,689 )
Schedule of Recurring Level 3 Fair Value Measurements

The following table summarizes the Company’s recurring Level 3 fair value measurements at June 30, 2026. The Series F preferred shares are excluded because they are not subsequently measured at recurring fair value:

 

Instrument   Fair value     Valuation technique and significant unobservable inputs
Convertible debenture – Tranche I   $ 1,177,884     Present value model using contractual principal, remaining term and an 18.5% market-participant discount rate.
Convertible debenture – Tranche II     479,059     Present value model using contractual principal, remaining term and an 18.5% market-participant discount rate.
Total recurring Level 3 investments   $ 1,656,943      
Schedule of Warrant Outstanding The warrants were issued in the following two tranches:

 

Instrument   Quantity     Exercise price     Expiration
date		   June 30,
2026
fair value		     March 31,
2026
fair value		  
Strategic advisory warrants - Tranche 1     8,750,021     $ 1.00     05-Sep-30   $ 5,753,134     $ 2,269,267  
Strategic advisory warrants - Tranche 2     5,250,013     $ 1.33     05-Sep-30     3,325,419       1,298,119  
Total warrants outstanding     14,000,034                 $ 9,078,553     $ 3,567,386  
Schedule of Changes in Fair Value Recognized in Earnings

The following table summarizes the changes in fair value recognized in earnings for the three months ended June 30, 2026:

 

Instrument   Three months ended
June 30,
2026		  
DVI common shares   $ 4,176,000  
Pre-funded warrants     463,999  
Strategic advisory services warrants     5,511,166  
Total net fair value gain   $ 10,151,165  
Schedule of Recurring Fair Value Measurement

The following table presents the recurring fair value measurements for the CleanCore instruments as of June 30, 2026:

 

Instrument   Level 1     Level 2     Level 3     Total  
CleanCore common shares   $ 10,659,999     $ -     $        -     $ 10,659,999  
Pre-funded warrants     -       819,916       -       819,916  
Strategic advisory services warrants     -       9,078,553       -       9,078,553  
Total   $ 10,659,999     $ 9,898,469     $ -     $ 20,558,468  
Schedule of Principal Inputs The model is an income-approach valuation technique. The following table summarizes the principal inputs used for the strategic advisory services warrants at June 30, 2026 and March 31, 2026:

 

Valuation input   June 30,
2026		     March 31,
2026		     Application
CleanCore common share price     $0.82 per share       $0.356 per share     Quoted closing market price used as the underlying share price
Risk-free interest rate     4.17 %     3.92 %   U.S. Treasury yield consistent with the remaining contractual term
Expected term     4.19 years       4.44 years     Remaining period to the September 5, 2030 expiration date
Expected volatility     126.49 %     126.64 %   Historical volatility of CleanCore common shares used as a market-participant proxy
Dividend yield     0.00 %     0.00 %   No dividends assumed over the expected term
Exercise prices     $1.00 and $1.33       $1.00 and $1.33     Contractual exercise prices for the strategic advisory warrant tranches
Schedule of Change in Fair Value of Investment in Earnings During the three months ended June 30, 2026, the Company recognized an unrealized loss of $335,808 on the change in fair value of the investment in earnings. No amount was recognized in other comprehensive income.

 

Three months ended June 30, 2026   Amount  
Unrealized loss on change in fair value   $ (335,808 )
Brokerage commissions and handling expense     (14,663 )
Total investment-related loss and transaction expense   $ (350,471 )
Schedule of Fair Value Hierarchy The Company held no TDOG shares at March 31, 2026, and there were no transfers among levels during the three months ended June 30, 2026.

 

Measurement date   Level 1     Level 2     Level 3     Total  
June 30, 2026   $ 1,132,997     $       -     $        -     $ 1,132,997  
March 31, 2026   $ -     $ -     $ -     $ -  
Schedule of Cumulative Investment Cost At June 30, 2026, Dogecoin Ventures held 4,502,585 preferred units, representing a 42.68% direct ownership interest, and its cumulative investment cost was $6,225,191.

 

    June 30,
2026		     March 31,
2026		  
Preferred units held     4,502,585       3,735,267  
Direct ownership interest     42.68 %     40.03 %
Cumulative investment cost   $ 6,225,191     $ 5,196,127