v3.26.1
Intangible Assets and License Contract Liability (Tables)
 3 Months Ended
Jun. 30, 2026
Intangible Assets and License Contract Liability [Abstract]  
Schedule of Continuity of Intangible Assets

The continuity of intangible assets for the period ended June 30, 2026 is as follows:

 

Intangible license asset   Amount  
Balance, March 31, 2026   $ 6,144,395  
Amortization expense     (400,721 )
Balance, June 30, 2026   $ 5,743,674  
Schedule of Gross Carrying Amount, Accumulated Amortization and Net Carrying Amount

The Company’s finite-lived intangible assets consist solely of the trademark license. The gross carrying amount, accumulated amortization and net carrying amount of the finite-lived trademark license were as follows:

 

    June 30,
2026		     March 31, 2026  
Gross carrying amount   $ 8,014,429     $ 8,014,429  
Accumulated amortization     (2,270,755 )     (1,870,034 )
Total intangible license asset, net   $ 5,743,674     $ 6,144,395  
Schedule of Estimated Amortization Expense Estimated amortization expense for the remaining contractual term is as follows:

 

Year ending June 30   Estimated
amortization
expense		  
2027   $ 1,202,164  
2028     1,602,886  
2029     1,602,886  
2030     1,335,738  
Total   $ 5,743,674  
Schedule of Continuity of License Contract Liability

The continuity of license contract liability for the period ended June 30, 2026 is as follows:

 

License contract liability   Amount  
Balance, March 31, 2026   $ 6,715,438  
Minimum royalty payments     (600,000 )
Finance expense     282,473  
Balance, June 30, 2026   $ 6,397,911  
         
Less: current portion     (2,400,000 )
Non-current portion   $ 3,997,911  
Schedule of Undiscounted Future Minimum Royalty Payments

At June 30, 2026, the undiscounted future minimum royalty payments and their reconciliation to the carrying amount of the license contract liability were as follows:

 

Minimum payments under the License Agreement   Amount  
Within 1 year   $ 2,400,000  
2 to 3 years     4,800,000  
4 to 5 years     1,400,000  
Total minimum payments     8,600,000  
Less: effect of discounting     (2,202,089 )
Present value of minimum payments   $ 6,397,911