Note 12 - Income Taxes (Tables)

12 Months Ended

Mar. 31, 2024

Notes To Financial Statements [Abstract]

Schedule of Income tax (recovery) expense

Income tax (benefit) expense:

	Year ended March 31, 2024			Year ended March 31, 2023
	$			$
Current tax (benefit) expense		2			—
Deferred tax (benefit) expense		(1,834	)		(9,542	)
Income tax (benefit) expense		(1,832	)		(9,542	)

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation between tax expense and the product of accounting income multiplied by the basic income tax rate for the years ended March 31, 2024 and 2023 is as follows:

	Year ended March 31, 2024			Year ended March 31, 2023
	$			$
Tax at Canadian Rate		(3,891	)		(13,772	)
Difference in foreign tax rates		(77	)		(1,315	)
Non-deductible stock-based compensation		242			480
Non-deductible change in fair value of warrants		3			(3	)
Non-deductible transaction costs		723			—
Non-deductible goodwill impairment		—			1,453
Other non-deductible items		15			—
Non-refundable federal investment tax credit		—			(642	)
State non income taxes		1			—
Change in tax rates		(486	)		—
Change in valuation allowance		1,635			4,263
Other		3			(6	)
Total tax (benefit) expense		(1,832	)		(9,542	)

Schedule of Deferred Tax Assets and Liabilities

Net deferred income tax assets as of March 31, 2024, and 2023 were comprised of the following:

	March 31, 2024			March 31, 2023
	$			$
Deferred income tax assets
Tax losses carried forward		40,659			38,628
Research and development expenses		8,522			7,672
Property, plant and equipment		523			905
Intangible assets		328			—
Operating lease right of use liability		—			129
Financing expenses		169			267
Net federal investment tax credits		2,882			3,950
Other deductible temporary differences		56			92
Total deferred income tax assets		53,139			51,643
Valuation allowance		(47,284	)		(46,664	)
Deferred income tax liabilities
Intangible assets		(11,369	)		(12,198	)
Operating lease asset		—			(123	)
Other taxable temporary differences		—			(5	)
Deferred tax liabilities		(11,369	)		(12,326	)
Net deferred tax liabilities		(5,514	)		(7,347	)

Summary of Tax Credit Carryforwards

As at March 31, 2024, the amounts and expiry dates of tax attributes and temporary differences, which are available to reduce future

years’ taxable income, were as follows:

					March 31, 2024
	Federal		Provincial		United States
	$		$		$
Tax losses carried forward
2028		571		571
2029		1,302		1,297
2030		1,657		1,651
2031		1,810		1,794
2032		1,484		1,461
2033		2,879		2,879
2034		3,678		3,568
2035		4,397		4,397
2036		6,470		6,371
2037		401		396
2038		14,856		13,821
2039		32,424		32,381
2040		23,576		23,439
2041		13,999		13,999
2042		9,417		9,416
2043		11,568		11,558
2044		7,206		7,206
No expiry						15,443
Total		137,695		136,205		15,443
Research and development expenses, without time limitation		25,708		27,887
Scientific Research & Experimental Development Expenditures investment tax credit carryforwards		3,922		—

Unrecognized Canadian federal investment tax credits may be used to reduce future Canadian federal income tax and expire as follows:

	$
2029	9
2030		23
2031		36
2032		345
2033		353
2034		348
2035		415
2036		229
2037		252
2038		259
2039		355
2040		226
2041		146
2042		312
2043		614
2044		-
		3,922

Schedule of Government Assistance [Table Text Block]

For the years ended March 31, 2024 and 2023, the Company recorded ($55) and $165, respectively, as a reduction of research and development expenses in the Consolidated Statements of Operations and Comprehensive Loss.

	March 31, 2024		March 31, 2023
	$		$
Investment tax credit		356		412