Note 15 - Stock Based Compensation (Tables)

12 Months Ended

Mar. 31, 2022

Notes To Financial Statements [Abstract]

Share-based Payment Arrangement, Option, Activity

The following tables summarize information about activities within the stock option plan:

	Number of options			Weighted average exercise price		Weighted average grant date fair value
				CAD $		CAD $
Outstanding, March 31, 2020		1,241,611			7.97		6.62
Granted		—			—		—
Exercised		(30,220	)		4.93		3.73
Forfeited		(299,520	)		7.16		5.90
Expired		—			—		—
Outstanding, March 31, 2021		911,871			8.33		6.96
Granted		2,115,400			2.04		1.75
Exercised		—			—		—
Forfeited		(37,890	)		4.00		3.06
Expired		—			—		—
Outstanding, March 31, 2022		2,989,381			3.94		3.32
Exercisable at end of year		989,911			7.45		6.19

	March 31, 2022		March 31, 2021
Weighted average fair value of the options granted to employees and directors of the Corporation-		1.75		—

Share-based Payment Arrangement, Expensed and Capitalized, Amount

Compensation expense recognized under the stock option plan is summarized as follows:

	March 31, 2022		March 31, 2021
	$		$
Research and development expenses		447		353
General and administrative expenses		842		828
Sales and marketing expenses		48		(7	)
		1,337		1,174

Schedule of Nonvested Option Activity

A summary of the non-vested stock option activity and related information for the Corporation’s stock options granted is as follows:

	Number of options			Weighted average grant date fair value CAD ($)
Non- vested, March 31, 2021		283,637			5.97
Options granted		2,115,400			1.75
Options vested		(369,672	)		4.15
Options forfeited and cancelled		(29,895	)		1.93
Non- vested, March 31, 2022		1,999,470			1.91

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The fair value of options granted was estimated using the Black-Scholes option pricing model, resulting in the following weighted average assumptions for options granted during the periods ended:

	March 31, 2022
	Weighted average- CAD
Exercise price	$1.75 CAD
Share price	$2.04 CAD
Dividend		—
Risk-free interest		1.48	%
Estimated life (years)		5.77	%
Expected volatility		120.65	%

Share-based Payment Arrangement, Option, Exercise Price Range

The following tables summarize information about activities within the stock option plan:

March 31, 2022
Exercise price CAD					Weighted average remaining contractual life		Number of options outstanding		Number of options exercisable
$	1.64	—	$	1.84		9.88		37,500		—
$	1.85	—	$	3.15		9.62		2,050,399		190,701
$	3.16	—	$	5.20		8.00		298,376		211,095
$	5.21	—	$	8.20		6.26		190,819		190,819
$	8.21	—	$	11.36		7.04		206,445		191,454
$	11.37	—	$	12.84		1.11		65,625		65,625
$	12.85	—	$	13.68		4.90		13,542		13,542
$	13.69	—	$	15.04		5.20		90,313		90,313
$	15.05	—	$	38.40		1.05		36,362		36,362
						8.62		2,989,381		989,911